Financial Performance - For the six months ended June 30, 2022, the company reported a revenue of HKD 25,037,000, a decrease of 31.5% compared to HKD 36,506,000 for the same period in 2021[8] - The gross profit for the same period was HKD 12,235,000, down 38.3% from HKD 19,822,000 year-on-year[8] - The net loss for the period was HKD 11,977,000, slightly improved from a loss of HKD 12,376,000 in the previous year, representing a 3.2% reduction in losses[11] - The basic and diluted loss per share for the period was HKD 1.49, compared to HKD 1.61 in the same period last year, showing an improvement of 7.4%[8] - The total comprehensive income for the six months ended June 30, 2022, was a loss of 10,292 thousand HKD, compared to a loss of 12,079 thousand HKD for the same period in 2021, indicating a reduction of about 14.8%[20] - The group reported a net loss before tax of HKD 12,046,000 for the six months ended June 30, 2022, compared to a net loss of HKD 11,047,000 for the same period in 2021[51] Assets and Liabilities - The company’s total assets decreased to HKD 192,529,000 as of June 30, 2022, down from HKD 214,813,000 at the end of 2021, reflecting a decline of 10.4%[14] - Total liabilities were reported at HKD 135,566,000, a decrease of 6.8% from HKD 145,498,000 at the end of 2021[17] - The company’s cash and cash equivalents stood at HKD 104,096,000, down from HKD 110,743,000, indicating a decrease of 6.0%[14] - As of June 30, 2022, the total equity of the company was 129,216 thousand HKD, a decrease from 141,295 thousand HKD as of January 1, 2021, reflecting a decline of approximately 8.5%[20] - The group’s debt as of June 30, 2022, was approximately HKD 76,813,000, compared to HKD 83,107,000 as of December 31, 2021, resulting in a leverage ratio of about 39.90%[135] Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2022, was 1,180 thousand HKD, compared to a net cash used of 4,534 thousand HKD for the same period in 2021, showing a significant improvement[24] - The company reported a net financing cost of HKD 1,548,000, which is an improvement from HKD 2,352,000 in the previous year, indicating a reduction of 34.2%[8] - The group received government subsidies amounting to HKD 1,097,000 for the six months ended June 30, 2022, compared to HKD 197,000 in the same period of 2021[62] - The group incurred financing costs of HKD 1,548,000 for the six months ended June 30, 2022, down from HKD 2,352,000 in the same period of 2021[62] Business Operations - The company has not disclosed any new product launches or technological advancements during this reporting period[9] - There are no updates on market expansion or mergers and acquisitions mentioned in the report[9] - The beauty and fitness business performance remained weak due to changes in consumer behavior during the pandemic, leading to a significant decline in the service industry[115] - The group did not conduct any capital raising activities during the period, and funds from previous capital raising remain unutilized due to ongoing uncertainties in the economic and business environment[132] - The group plans to open, relocate, and/or renovate its operational centers in China in the second half of 2022 to prepare for future business development as COVID-19 concerns ease[118] Employee and Shareholder Information - As of June 30, 2022, the company employed 182 staff members in Hong Kong and China[154] - Major shareholder Zhou Cuiqiong holds 370,071,730 shares, representing approximately 56.08% of the total issued shares[164] - The average number of issued ordinary shares for the calculation of basic and diluted loss per share was 659,895,000, resulting in a loss per share of HKD 1.49 for the six months ended June 30, 2022[72] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the period[178] - The company confirmed compliance with the Corporate Governance Code, except for the lack of an internal audit function[173] - The audit committee believes that the financial statements comply with applicable accounting standards and listing rules, ensuring adequate disclosure[178] Risk Factors - The company continues to face various financial risks, including foreign exchange risk, credit risk, liquidity risk, and cash flow and fair value interest rate risk[36] - The company has a policy in place to minimize credit risk by selling products or services to customers with good credit records[78]
格林国际控股(02700) - 2022 - 中期财报