Financial Performance - Total revenue for the six months ended June 30, 2022, was approximately HKD 274.9 million, a decrease of about 45.2% compared to HKD 501.8 million in the same period of 2021[4] - The pre-tax loss for the period was approximately HKD 38.1 million, an increase of about 40.1% from a pre-tax loss of HKD 27.2 million in the same period of 2021[4] - Loss attributable to equity holders of the company was approximately HKD 39.0 million, up about 36.4% from HKD 28.6 million in the same period of 2021[4] - Basic and diluted loss per share for the period was approximately HKD 3.03, compared to HKD 2.22 in the same period of 2021[5] - Total comprehensive loss for the period amounted to approximately HKD 38.7 million, compared to HKD 22.4 million in the same period of 2021[11] - The company reported a total comprehensive loss of HKD 38,220,000 for the six months ended June 30, 2022, compared to a loss of HKD 27,226,000 in the previous period[18] - The company recorded a loss of approximately HKD 38.2 million for the period, compared to a loss of HKD 27.2 million in the same period last year, with a loss attributable to equity holders of HKD 39 million[96] Revenue Breakdown - Revenue from the trading business was HKD 269,571,000, while revenue from the petrochemical storage business was HKD 5,289,000, totaling HKD 274,860,000[33] - Trade business revenue was HKD 269,571,000 for the six months ended June 30, 2022, compared to HKD 486,943,000 in the same period of 2021, reflecting a decline[46] - The petrochemical storage business reported a revenue decline of about 64.4% to approximately HKD 5.3 million, down from HKD 14.9 million in the previous year, with liquid bulk throughput decreasing by approximately 55.8%[90] - Revenue from external customers in Hong Kong for the six months ended June 30, 2022, was HKD 63,753,000, down from HKD 353,030,000 in the same period of 2021[43] - Revenue from external customers in China for the six months ended June 30, 2022, increased to HKD 173,355,000 from HKD 139,920,000 in the same period of 2021[43] Assets and Liabilities - Non-current assets as of June 30, 2022, were approximately HKD 160.5 million, down from HKD 179.3 million as of December 31, 2021[13] - Current assets increased to approximately HKD 247.4 million as of June 30, 2022, compared to HKD 245.9 million as of December 31, 2021[13] - Current liabilities were approximately HKD 277.2 million as of June 30, 2022, compared to HKD 402.4 million as of December 31, 2021[17] - The company reported a net current liability of approximately HKD 29.8 million as of June 30, 2022, improving from HKD 156.5 million as of December 31, 2021[17] - Total assets as of June 30, 2022, amounted to HKD 407,857,000, a decrease from HKD 425,214,000 as of December 31, 2021[41] - Total liabilities as of June 30, 2022, were HKD 886,903,000, compared to HKD 865,561,000 as of December 31, 2021[41] - The company's total equity attributable to equity holders was approximately HKD (505.4) million as of June 30, 2022, compared to HKD (466.9) million as of December 31, 2021[17] Cash Flow and Financing - The net cash generated from operating activities was HKD 17,597,000, a significant improvement from a net cash outflow of HKD 190,705,000 in the previous year[20] - The company had cash and cash equivalents of HKD 44,426,000 at the end of the reporting period, up from HKD 31,051,000 a year earlier[20] - The company's total bank and other borrowings amounted to HKD 500.9 million as of June 30, 2022, compared to HKD 447.6 million at the end of 2021[76] - The company's financing costs were approximately HKD 10.8 million, down from HKD 12.5 million in the previous year, mainly due to the repayment of a USD 50 million bond and the issuance of a USD 55 million bond at a lower interest rate[95] Shareholder Information - Major shareholder Jiangsu Dafeng holds 740,040,000 shares, representing approximately 57.46% of the company's issued share capital[125] - Mr. Jiang Wen directly beneficially owns 75,470,000 shares, accounting for 5.86% of the company's issued share capital[125] - The company has issued 1,288,000,000 shares with a par value of HKD 0.01 per share, unchanged from the previous year[78] Corporate Governance - The company is committed to maintaining high standards of corporate governance and has complied with all relevant codes[139] - The audit committee, consisting of independent non-executive directors, reviewed the interim financial statements, which comply with applicable accounting standards and regulations[145] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM listing rules[138] Management and Future Outlook - The group anticipates global economic recovery in the second half of 2022 as more countries lift pandemic restrictions, aiming to seize opportunities arising from this recovery[110] - The company acknowledges the contributions of management and staff, as well as the support from business partners and shareholders[146] - Mr. Zhao Liang has been appointed as the chairman and executive director following the resignation of Mr. Yuan Qingfeng[140] - The board of directors consists of executive, non-executive, and independent non-executive members, including Chairman Zhao Liang[148] - The company is focused on technological advancements and market expansion strategies[149]
盐城港(08310) - 2022 - 中期财报