Financial Performance - Macau Legend Development Limited reported a significant increase in revenue, reaching HKD 1.2 billion, representing a 25% year-over-year growth[19]. - For the six months ended June 30, 2022, the Group reported total revenue of approximately HK$543.8 million, an increase of approximately HK$16.4 million or 3.1% compared to HK$527.4 million in the same period last year[28][31]. - Revenue for the six months ended June 30, 2022, was HK$543,751,000, an increase of 3% compared to HK$527,439,000 in the same period of 2021[152]. - The Group's gaming revenue increased by approximately 6.7% to approximately HK$449.3 million for the six months ended 30 June 2022 compared to the same period last year[47]. - The Group's total reported revenue for gaming services was HK$449.3 million, with mass market tables contributing HK$374.3 million[42]. - The reported revenue from the Legend Palace Casino was HK$235.4 million, a 14.6% increase from HK$205.4 million in the previous year[38]. - The Group's revenue from the Babylon Casino showed a net win of HK$67.8 million, a 12.5% increase from HK$60.3 million year-on-year[38]. Visitor Engagement - The company experienced a 30% increase in user visits to its gaming facilities, totaling 1.5 million visitors in the first half of 2022[19]. - The total gaming turnover for mass market tables was HK$1,824.4 million, representing a 22.3% increase from HK$1,491.5 million in the previous year[38]. - The average number of gaming tables in operation increased to 75 from 69, representing an 8.7% increase[38]. Operational Efficiency - Macau Legend's EBITDA margin improved to 35%, up from 30% in the previous year, reflecting better cost management and operational efficiencies[19]. - The company has set a target to reduce operational costs by 10% over the next year through efficiency improvements and technology integration[19]. - The Group incurred a net cash outflow from investing activities of HK$39,576,000 for the six months ended June 30, 2022, compared to HK$38,218,000 in the same period of 2021[168]. Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new marketing strategies and enhanced customer engagement[19]. - Macau Legend plans to expand its market presence by opening two new gaming venues in the next 12 months, aiming to increase its market share by 10%[19]. - The Group expects the economy to remain low for a certain period due to the impact of COVID-19 and the new gaming law[66]. Financial Challenges - The Group recorded a loss of approximately HK$485.5 million during the six months ended June 30, 2022[73]. - The Group's financial situation raises significant doubt about its ability to continue operations without successful implementation of its financial strategies[145]. - The Group breached certain loan covenant clauses, which may lead to immediate repayment demands from creditor banks for outstanding borrowings totaling HK$2,136 million[144]. - The Group's liquidity needs primarily comprise working capital, capital expenditure, and servicing borrowings, funded from internal resources, debt, and/or equity financing[72]. COVID-19 Impact - The Group's operations were significantly affected by COVID-19 related social distancing measures and travel restrictions, leading to a decline in visitor arrivals to Macau and Lao PDR compared to 2019[63]. - The Group has implemented various measures to mitigate the impact of COVID-19, including active cost control strategies[63]. Shareholder Information - The interests of substantial shareholders as of June 30, 2022, include Mr. Chan Weng Lin with 2,058,146,252 shares, representing approximately 33.19% of total issued shares[94]. - Mr. David Chow holds 613,471,468 shares, accounting for approximately 9.89% of total issued shares[94]. - The total number of shares held by substantial shareholders as of June 30, 2022, is 1,121,926,179, representing 18.09% of total issued shares[121]. Corporate Governance - The company has complied with the Corporate Governance Code throughout the six months ended June 30, 2022, except for code provision C.2.1[126]. - The company has established written guidelines for employees regarding securities trading, ensuring compliance with the standard code[129]. Asset Management - The Group's total comprehensive loss reflects ongoing challenges in the gaming and hospitality sectors, influenced by regulatory changes and market conditions[172]. - The Group's consolidated net assets attributable to owners of the Company amounted to approximately HK$3,827.1 million, a decrease of approximately HK$487.8 million from HK$4,314.9 million as of December 31, 2021[73]. - The Group's total non-current assets as of June 30, 2022, were HK$7,307,590,000, down from HK$7,546,383,000 at the end of 2021[157].
澳门励骏(01680) - 2022 - 中期财报