Financial Performance - For the six months ended June 30, 2022, FDB Holdings Limited reported revenue of approximately HKD 102.9 million, a decrease of about HKD 12.1 million or 10.5% compared to the same period in 2021[28]. - The profit attributable to the owners of the company from continuing operations was approximately HKD 9.2 million, a significant recovery from a loss of HKD 29.6 million in the same period of 2021[28]. - The profit from discontinued operations was approximately HKD 0.6 million, a decrease of about HKD 105.7 million or 99.5% compared to the prior year[28]. - Basic and diluted earnings per share from continuing operations were 0.7 HK cents, compared to a loss of 2.2 HK cents in the same period last year[35]. - Total comprehensive income for the period was HKD 9.9 million, compared to HKD 57.6 million in the previous year[35]. - The company experienced a gross profit of HKD 1.6 million from continuing operations, compared to a gross loss of HKD 14.0 million in the same period of 2021[28]. - The company reported a pre-tax profit of HKD 9.2 million, recovering from a pre-tax loss of HKD 29.6 million in the same period last year[32]. - The company reported a profit of HKD 9,245 for the six months ended June 30, 2022, compared to a loss of HKD 29,558 for the same period in 2021[149]. - Total comprehensive income attributable to the company's owners for the period was approximately HKD 9.3 million, compared to a loss of HKD 46.0 million in the previous year[193]. Revenue and Income - The company's revenue for the reporting period decreased by approximately HKD 12.1 million or 10.5% to about HKD 102.9 million, compared to HKD 115.0 million in the previous year[182]. - The revenue from continuing operations for the contracting services was HKD 102,892,000 for the six months ended June 30, 2022, a decrease of 10.3% compared to HKD 114,989,000 for the same period in 2021[75]. - Other income for the six months ended June 30, 2022, totaled HKD 4,284,000, significantly up from HKD 250,000 in the same period of 2021[77]. - Other income from ongoing operations was approximately HKD 4.3 million, a significant increase of about 1,333% from HKD 0.3 million in the previous year, mainly due to the termination of certain contract liabilities and government subsidies related to COVID-19[185]. Expenses and Costs - Administrative expenses for the period were HKD 3.3 million, a decrease from HKD 10.8 million in the previous year[32]. - Total employee costs amounted to HKD 24,398,000 for the six months ended June 30, 2022, down from HKD 26,646,000 in the same period of 2021, reflecting a decrease of 4.7%[85]. - The finance costs for the six months ended June 30, 2022, were HKD 67,000, a decrease from HKD 146,000 in the same period of 2021[82]. - Administrative expenses decreased by approximately HKD 5.4 million or 33.3% to about HKD 10.8 million during the period[188]. - Financing costs decreased by approximately HKD 0.1 million or 50.0% to about HKD 0.1 million due to reduced interest payments on bank loans and lease liabilities[189]. Assets and Liabilities - As of June 30, 2022, total non-current assets amounted to HKD 2,404 million, a decrease from HKD 3,346 million as of December 31, 2021, representing a decline of approximately 28.2%[36]. - The company's cash and cash equivalents increased to HKD 15,120 million from HKD 9,551 million, marking a growth of 58.5% year-over-year[60]. - The net asset value rose to HKD 59,665 million, up from HKD 49,905 million, indicating an increase of 19.5% compared to the previous year[39]. - Total liabilities decreased to HKD 126,672 million from HKD 190,290 million, reflecting a reduction of approximately 33.5%[36]. - The company’s trade receivables and other receivables decreased to HKD 94,921 million from HKD 123,967 million, a decline of 23.5%[36]. - The company’s contract assets decreased to HKD 53,222 million from HKD 87,918 million, representing a decrease of 39.5%[36]. - Trade payables decreased to HKD 37,683,000 as of June 30, 2022, from HKD 66,299,000 as of December 31, 2021[159]. - The company reported a total of HKD 112,895,000 in trade payables and other payables as of June 30, 2022, down from HKD 165,836,000 as of December 31, 2021[159]. Cash Flow - The operating cash flow before changes in working capital was reported at HKD (3,666) million, a significant improvement from HKD (29,523) million in the previous year[60]. - The company’s financing activities generated a net cash inflow of HKD 10,000 million, compared to a net outflow of HKD (5,479) million in the previous year[62]. - Cash flow from operating activities for the terminated consulting services division was HKD 450,000 during the same period[91]. - The net cash flow generated from the sale of the consulting services division was HKD 6,027,000 after accounting for cash balances sold[113]. Dividends and Share Capital - The company did not recommend any interim dividend for the relevant period[28]. - The company did not declare any dividends for the six months ended June 30, 2022, and 2021[148]. - The issued share capital as of June 30, 2022, was HKD 13,320,000, with 1,332,000,000 ordinary shares issued[199]. Business Operations and Changes - The group has ceased operations in the financial information and technology services sector as of December 31, 2021, impacting the segment performance reporting[65]. - The company changed its functional currency from RMB to HKD effective January 1, 2022, due to changes in the economic environment[66]. - The company sold its consulting services division for a cash consideration of HKD 8,500,000 on February 10, 2021, marking the termination of this business segment[87]. - The financial information and technology services division was also sold, with the sale of subsidiaries generating a profit of HKD 583,000 in the first quarter of 2022[117]. - The company completed the sale of Shanghai Feitang and its subsidiaries for approximately RMB 1 on March 30, 2021, resulting in the exclusion of its performance, cash flow, assets, and liabilities from the consolidated financial statements thereafter[130]. - The company also sold Tianjin Turing and its subsidiaries for approximately RMB 1 on May 28, 2021, leading to the same exclusion from the consolidated financial statements[136]. - The company committed to sell Shengyi Group on December 14, 2021, with the sale completed on March 24, 2022, resulting in the exclusion of its performance and financials from the consolidated statements[145]. Financial Ratios - The current ratio as of June 30, 2022, was 1.45, up from 1.25 as of December 31, 2021[198]. - The debt-to-equity ratio decreased to approximately 20.1% as of June 30, 2022, from about 28.4% as of December 31, 2021[198]. Miscellaneous - The group recognized government subsidies of HKD 848,000 related to COVID-19 support measures during the six months ended June 30, 2022[77]. - The company expects to continue seeking various opportunities to maximize shareholder value despite uncertainties related to COVID-19[181]. - The company maintains a prudent funding and treasury policy to minimize financial risks[199].
丰展控股(01826) - 2022 - 中期财报