Revenue and Profit - Revenue for the six months ended June 30, 2022, was HKD 72,053,000, a decrease of 6.9% compared to HKD 77,190,000 in the same period of 2021[4] - Gross profit for the same period was HKD 36,404,000, down 14.1% from HKD 42,378,000 in 2021[4] - Profit attributable to owners of the company for the six months was HKD 9,801,000, an increase of 26.1% compared to HKD 7,772,000 in the prior year[4] - The company reported a pre-tax profit of HKD 11,421,000, which is a 15.5% increase from HKD 9,891,000 in the previous year[4] - For the six months ended June 30, 2022, the company reported a profit attributable to shareholders of HKD 9,801,000, an increase of 26.1% compared to HKD 7,772,000 for the same period in 2021[82] - Basic earnings per share for the six months ended June 30, 2022, was HKD 3.83, up from HKD 3.04 in the same period of 2021, representing a growth of 25.9%[86] - Net profit for the period was approximately 9.8 million HKD, an increase of about 2.0 million HKD or 25.6% from 7.8 million HKD in the previous period[173] Revenue Breakdown - The revenue from printing services was HKD 45,719,000, down from HKD 51,719,000, reflecting a decline of 11.5%[51] - Printing service revenue was approximately 45.7 million HKD, a decrease of about 11.6% from 51.7 million HKD in the previous period, accounting for approximately 63.5% of total revenue[151] - Translation service revenue was approximately 20.2 million HKD, a slight decrease of about 1.0% from 20.4 million HKD in the previous period, representing about 28.0% of total revenue[152] - Media release service revenue increased by approximately 19.6% to about 6.1 million HKD, compared to 5.1 million HKD in the previous period, accounting for approximately 8.5% of total revenue[161] Assets and Liabilities - Total current assets decreased to HKD 113,934,000 from HKD 149,764,000, reflecting a decline of 24%[8] - Total liabilities increased to HKD 51,458,000 from HKD 45,880,000, representing an increase of 12.9%[12] - The net asset value of the company decreased to HKD 98,062,000 from HKD 139,461,000, a decline of 29.6%[19] - Cash and cash equivalents decreased significantly to HKD 47,951,000 from HKD 127,565,000, a drop of 62.4%[8] - Trade receivables, net of expected credit loss provisions, stood at HKD 46,347,000 as of June 30, 2022, compared to HKD 14,440,000 as of December 31, 2021, indicating a significant increase[90] - Trade payables increased to HKD 4,985,000 as of June 30, 2022, compared to HKD 2,602,000 as of December 31, 2021, reflecting a growth of approximately 91%[110] - Total current liabilities decreased from HKD 10,202,000 as of December 31, 2021, to HKD 12,420,000 as of June 30, 2022[113] Cash Flow and Expenditures - Operating cash flow for the period was negative at HKD (3,689,000), compared to positive cash flow in the previous year[29] - The company incurred capital expenditures of HKD (794,000) for the purchase of machinery and equipment, down from HKD (13,401,000) in the prior year[31] - The company’s cash flow from financing activities was HKD (61,521,000), a decrease from HKD (86,670,000) in the prior period[doc id='37'] - The total liabilities increased, with cash used in investing activities reported at HKD (14,404,000) compared to HKD (982,000) previously[doc id='37'] - Capital expenditure for the period was approximately 800,000 HKD, significantly lower than 13.4 million HKD in the previous period, primarily for operational needs[177] Employee and Administrative Expenses - Total employee benefits expenses for the six months ended June 30, 2022, amounted to HKD 27,801,000, an increase of 6.8% from HKD 26,035,000 in the previous year[78] - Total employee costs for the period were approximately HKD 29,200,000, an increase from approximately HKD 27,200,000 in the prior period[182] - Administrative expenses decreased by approximately 2.6 million HKD or 11.5% to about 20.0 million HKD, mainly due to the absence of one-time office relocation expenses[168] Government Subsidies and Tax - The company recognized government subsidies amounting to HKD 1,600,000 related to the COVID-19 employment support scheme, compared to zero in the previous year[65] - The company recognized a total tax expense of HKD 1,620,000 for the six months ended June 30, 2022, a decrease of 23.6% from HKD 2,119,000 in the same period of 2021[69] - The company received government subsidies related to the employment support scheme amounting to HKD 788,000 as of June 30, 2022, compared to zero as of December 31, 2021[101] Share Capital and Dividends - The company did not declare any interim dividend for the six months ended June 30, 2022, while a final dividend of HKD 0.20 per share was declared for the previous year, totaling HKD 51,200,000[81] - The company's issued share capital as of June 30, 2022, was HKD 2,560,000, comprising 256,000,000 shares, with no changes during the period[181] - The company’s total issued and paid-up share capital remained at HKD 100,000,000 as of June 30, 2022, consistent with December 31, 2021[114] Financial Position and Investments - The company continues to adopt a prudent approach to equity investments amid market volatility[193] - The group held a total equity investment portfolio valued at approximately HKD 1,000,000 as of June 30, 2022, down from HKD 1,400,000 as of December 31, 2021[189] - The fair value of financial assets measured at fair value through profit or loss was HKD 10,557,000, representing 0.6% of the total asset value[190] - The group had no significant capital commitments as of June 30, 2022, compared to HKD 391,000 as of December 31, 2021[187] - There were no major investments or capital asset plans as of June 30, 2022[196] - The group did not engage in any acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[197] - The group had no significant contingent liabilities or guarantees as of June 30, 2022[195]
REF HOLDINGS(01631) - 2022 - 中期财报