Financial Performance - For the six months ended June 30, 2023, the company recorded a loss of approximately HKD 16.5 million, compared to a loss of approximately HKD 4.5 million for the same period in 2022[9]. - The company's revenue for the six months ended June 30, 2023, was HKD 17,574 million, down from HKD 19,203 million in 2022, representing a decrease of approximately 8.5%[74]. - The gross profit for the same period in 2023 was HKD 14,979 million, compared to HKD 16,355 million in 2022, indicating a decline of about 8.4%[74]. - The company recorded other income of HKD 321 million for the six months ended June 30, 2023, down from HKD 499 million in 2022, representing a decrease of approximately 35.7%[74]. - The company incurred a total comprehensive loss of HKD 16,491,000 for the six months ended June 30, 2023, compared to a loss of HKD 4,503,000 for the same period in 2022[80]. - The company reported a net loss of HKD 16,491,000 for the period, reflecting ongoing challenges in the market[142]. - For the six months ended June 30, 2023, the company recorded a loss attributable to owners of approximately HKD 16,491,000, compared to a loss of HKD 4,503,000 for the same period in 2022[175]. Operating Loss and Expenses - The company's operating loss for the six months ended June 30, 2023, was HKD 15,037 million, significantly higher than the operating loss of HKD 2,823 million in 2022[74]. - The total segment loss for the first half of 2023 was HKD 15,827,000, compared to a loss of HKD 15,037,000 in the previous year[142]. - Employee benefits expenses, including director remuneration, were HKD 4,206,000, down from HKD 4,412,000 in the previous year[149]. - Unallocated company income and expenses netted to HKD 790,000, contributing to the overall loss[142]. Revenue Breakdown - Total revenue for the first half of 2023 was HKD 17,574,000, a decrease of 8.5% from HKD 19,203,000 in the same period of 2022[137]. - Office property rental income decreased to HKD 8,925,000, down 16.5% from HKD 10,687,000 year-on-year[137]. - Retail property rental income increased slightly to HKD 6,573,000, up 2.4% from HKD 6,422,000 in the previous year[137]. - Property management fee income was HKD 6,182,000, a decrease of 4.5% from HKD 6,474,000 in 2022[137]. - Rental income for the six months ended June 30, 2023, was approximately HKD 15.5 million, down from HKD 17.1 million in 2022, with office property rental contributing about HKD 6.6 million or 42.4%[200]. - Property management fee income for the same period was approximately HKD 2.1 million, consistent with 2022, representing about 11.8% of total revenue[200]. - The company’s property management fee income accounted for 10.9% of total revenue in 2022, slightly increasing to 11.8% in 2023[200]. Assets and Liabilities - Total liabilities as of June 30, 2023, were HKD 9,854 million, a decrease from HKD 10,913 million as of December 31, 2022[6]. - As of June 30, 2023, total assets amounted to HKD 1,293,260,000, a slight decrease from HKD 1,309,860,000 as of December 31, 2022, representing a decline of approximately 1.2%[76]. - The company reported a total equity attributable to owners of HKD 1,274,579,000 as of June 30, 2023, down from HKD 1,291,070,000, representing a decline of about 1.3%[76]. - The total liabilities decreased slightly to HKD 18,681,000 from HKD 18,790,000, reflecting a reduction of about 0.6%[78]. - The company’s deferred tax liabilities increased to HKD 7,788,000 from HKD 7,301,000, reflecting an increase of approximately 6.7%[78]. - The company’s retained earnings as of June 30, 2023, were HKD 902,971,000, down from HKD 919,462,000, indicating a decrease of about 1.8%[80]. - The cash and bank balances increased to HKD 26,067,000 from HKD 17,409,000, marking a significant increase of approximately 49.5%[76]. - The cash and cash equivalents decreased by HKD 1,152,000 during the period, compared to a decrease of HKD 70,289,000 in the previous year[82]. - The company’s current assets net amount was HKD 16,769,000, a significant increase from HKD 7,740,000 in the previous period[78]. - As of June 30, 2023, accounts receivable amounted to HKD 388,000, a significant increase from HKD 72,000 as of December 31, 2022[183]. Investment Properties - The fair value loss on investment properties for the six months ended June 30, 2023, was approximately HKD 24.9 million, compared to HKD 14.3 million in 2022, reflecting an increase in losses[9]. - The fair value of investment properties decreased to HKD 1,254,860,000 from HKD 1,279,793,000 at the beginning of the year[152]. - The group has not made any significant acquisitions of non-current assets during the six months ended June 30, 2023[121]. Financial Management and Strategy - The company emphasized the importance of prudent financial management, which has been a key factor in its success[21]. - The company plans to focus on a resilient investment portfolio to generate stable recurring income and create value for shareholders[21]. - The group expects that the adoption of new accounting standards will not have a significant impact on its financial position and performance[113]. - The group has not recognized any overseas profits tax provisions for the six months ended June 30, 2023[128]. - The weighted average number of ordinary shares issued remained constant at 720,000 shares for both periods[175]. - The company did not declare or pay any dividends for the six months ended June 30, 2023[174]. - The company received government subsidies of HKD 288,000 under the Employment Support Scheme aimed at maintaining employment during the COVID-19 pandemic[170]. - The company reported no impairment provisions for accounts receivable as of June 30, 2023[185]. - Financing expenses from related companies amounted to HKD 37,000 in 2022, with no such expenses reported for 2023[192].
晋安实业(02292) - 2023 - 中期财报