Revenue Performance - Total revenue for the six months ended June 30, 2023, was HKD 79,500,000, a decrease of 78.8% compared to HKD 374,700,000 for the same period in 2022[17]. - Supply chain business generated revenue of HKD 16,800,000, a significant drop from HKD 342,500,000 in the same period last year[9][17]. - Hotel management and catering services reported revenue growth from HKD 28,400,000 to HKD 61,400,000, marking a substantial increase[10][17]. - Revenue for the six months ended June 30, 2023, was HKD 79,501 thousand, a decrease of 78.8% compared to HKD 374,684 thousand for the same period in 2022[66]. - Revenue from supply chain business was HKD 14,937,000, while hotel management and catering services generated HKD 53,424,000 for the first half of 2023[96]. Financial Losses - The company recorded a net loss of approximately HKD 74,200,000 for the six months ended June 30, 2023, compared to a net profit of HKD 31,300,000 for the same period in 2022[20]. - The company reported a loss of HKD 74,171 thousand for the six months ended June 30, 2023, compared to a profit of HKD 31,266 thousand in the previous year[66]. - The company reported a net loss attributable to equity shareholders of HKD 74,104,000 for the six months ended June 30, 2023, compared to a profit of HKD 31,266,000 in the same period of 2022[106]. - Total comprehensive loss for the period amounted to HKD 92,336,000, significantly higher than the comprehensive loss of HKD 10,639,000 in the previous year[150]. Cost Management - Direct costs and operating expenses decreased from HKD 327,600,000 to HKD 67,500,000, while administrative expenses fell from HKD 36,700,000 to HKD 20,700,000[18]. - Financial costs decreased from HKD 17,200,000 to HKD 12,500,000 due to loan repayments[18]. - The group recognized impairment losses of HKD 49,360,000 for trade receivables and other receivables during the six months ended June 30, 2023, compared to an impairment reversal of HKD 1,834,000 in the previous year[122]. Assets and Liabilities - Total assets as of June 30, 2023, were HKD 1,083,452 thousand, down from HKD 1,327,807 thousand as of December 31, 2022[71]. - Current liabilities decreased to HKD 519,177 thousand from HKD 668,904 thousand at the end of 2022, reflecting a reduction of 22.4%[71]. - The total liabilities as of June 30, 2023, were HKD 603,305,000, compared to HKD 758,884,000 in the previous year[99]. - Trade receivables (net of expected credit loss provisions) decreased to HKD 452,708,000 as of June 30, 2023, from HKD 634,037,000 as of December 31, 2022, representing a decline of approximately 28.6%[113]. Operational Adjustments - As of June 30, 2023, the group employed approximately 310 staff, down from about 400 staff a year earlier, reflecting adjustments in operational needs[36]. - The management is actively addressing challenges in the supply chain business and aims to improve overall performance despite current adversities[37]. - The company is focusing on operational efficiency and customer satisfaction to drive growth in the competitive hotel management and catering services sector[13]. Corporate Governance - The company has complied with the corporate governance code principles as per the listing rules, with minor deviations noted[53]. - The board will continue to review the effectiveness of the corporate governance structure and make changes as necessary[54]. - All directors confirmed compliance with the standard code during the six-month period ending June 30, 2023[55]. Shareholder Information - As of June 30, 2023, the total number of shares outstanding is 3,900,000,000[43]. - Teng Le Holdings owns 980,000,000 shares, representing 25.13% of the total shares[45]. - Yong Heng Holdings holds 720,000,000 shares, accounting for 18.46% of the total shares[45]. - Chang Feng Limited possesses 596,253,000 shares, which is 15.29% of the total shares[45]. - Bao Xin Financial Group has a stake of 571,079,950 shares, equivalent to 14.64% of the total shares[45]. Cash Flow and Investments - Cash generated from operating activities was HKD 26,795,000, a recovery from a cash outflow of HKD 89,311,000 in the prior year[152]. - The company recorded a net cash inflow from investing activities of HKD 38,812,000, compared to HKD 164,292,000 in the same period last year[152]. - The cash and cash equivalents at the end of the period were HKD 38,945,000, down from HKD 61,962,000 at the end of the previous year[152]. Future Outlook - The company plans to continue focusing on hotel management and catering services, aiming to enhance operational efficiency and market presence[35]. - The company has established a strategic partnership to form a new supply chain company aimed at expanding its customer base[12]. - The company plans to continue its strategy of leveraging its investment properties for rental income and capital appreciation[109].
百德国际(02668) - 2023 - 中期财报