Financial Performance - For the six months ended September 30, 2022, the group's consolidated revenue was HKD 83 million, an increase from HKD 74 million for the same period in 2021[11] - The group recorded a loss of HKD 55 million for the period, compared to a profit of HKD 3 million in the same period last year, primarily due to losses from joint ventures and fair value losses on investment properties[11] - The group's gross profit was HKD 13 million with a gross margin of 15.8%, compared to a gross margin of 17.7% in the previous year[11] - The group's total revenue for the six months ended September 30, 2022, was HKD 82.786 million, an increase from HKD 73.833 million in the same period last year, representing a growth of approximately 12.5%[42] - The total comprehensive loss for the six months ended September 30, 2022, was HKD 67.869 million, compared to a total comprehensive income of HKD 4.618 million in the same period last year[44] - The company reported a pre-tax loss of HKD 55,187,000 for the six months ended September 30, 2022, compared to a pre-tax profit of HKD 3,722,000 for the same period in 2021[84] - The company reported a total comprehensive loss of HKD 61,408,000 for the six months ended September 30, 2022[53] Assets and Liabilities - As of September 30, 2022, the total assets of the group were HKD 1.49 billion, down from HKD 1.59 billion as of March 31, 2022, with current assets amounting to HKD 745 million[9] - The group's total bank borrowings as of September 30, 2022, amounted to HKD 307 million, down from HKD 332 million as of March 31, 2022, indicating a reduction of about 7.5%[34] - The net asset liability ratio as of September 30, 2022, was 16.1%, a decrease from 17.9% as of March 31, 2022, reflecting a more conservative financial position[32] - The total assets of the group decreased from HKD 1,591,071,000 as of March 31, 2022, to HKD 1,489,529,000 as of September 30, 2022, reflecting a decline of approximately 6.4%[80] - The total liabilities of the group also decreased from HKD 359,284,000 to HKD 325,611,000, a reduction of about 9.3%[82] - The company’s equity attributable to ordinary shareholders decreased to HKD 1,172,513,000 from HKD 1,233,921,000, a decline of about 4.9%[48] Cash Flow and Financing - The company reported a net cash inflow from operating activities of HKD 36,322,000 for the six months ended September 30, 2022, compared to a net outflow of HKD 33,388,000 in the same period last year[56] - Cash and cash equivalents at the end of the period were HKD 117,302,000, up from HKD 168,975,000, showing a decrease of approximately 30.4%[58] - The company’s cash and cash equivalents included HKD 1,920,000 classified as held for sale as of September 30, 2022[99] - The company has utilized HKD 124,891,000 of its bank financing as of September 30, 2022, compared to HKD 211,592,000 on March 31, 2022, reflecting a 41% decrease[106] - The company’s total bank loans include secured loans of HKD 124,891,000 and unsecured loans of HKD 120,000,000 as of September 30, 2022[103] Project Development - The group has two ongoing redevelopment projects in Hong Kong, with the Shek Pai Tau project achieving approximately 60% of its total saleable area sold[8] - The Anoakia project is expected to be completed by June 2023, covering an area of 11,335 square feet[21] - The Monterey Park Towne Centre project is currently in the planning stage, with a total area of 237,644 square feet[21] - The Graphite project in the UK is under construction and is anticipated to be completed by the end of Q1 2025, with a total area of 27,523 square meters[23] - The Xie Fei Dao project in Hong Kong was completed in summer 2022, with approximately 60% of the total area pre-sold[24] - The Huang Zhu Keng project is expected to be completed in Q4 2022, with a total area of 107,208 square feet[24] Revenue Sources - For the six months ended September 30, 2022, the revenue from completed property sales was HKD 74,000,000, an increase from HKD 63,614,000 in the same period of 2021, representing a growth of approximately 16.5%[68] - The revenue from asset, investment, and fund management for the six months ended September 30, 2022, was HKD 7,683,000, slightly up from HKD 7,507,000 in the same period of 2021, marking an increase of approximately 2.3%[68] - The group’s rental income for the six months ended September 30, 2022, was HKD 1,040,000, a decrease from HKD 2,443,000 in the same period of 2021, representing a decline of about 57.5%[68] - The group reported no revenue from the distribution of construction and interior decoration materials for the six months ended September 30, 2022, consistent with the previous year[68] Shareholder Information - The major shareholder Rykadan Holdings Limited holds 39.67% of the issued share capital, with Tiger Crown Limited owning 25.86%[131] - The total number of shares held by key management personnel includes 97,104,000 shares by Chen Wei Lun, representing 25.86% of the issued share capital[127] Corporate Governance - The company adhered to the corporate governance code principles and applicable provisions, with a noted deviation regarding the roles of the Chairman and CEO being held by the same individual[136] - The audit committee, composed of three independent non-executive directors, reviewed the unaudited consolidated interim results during the reporting period[144] - The company has adopted a securities trading code for directors and relevant employees, ensuring compliance during the interim reporting period[138]
宏基资本(02288) - 2023 - 中期财报