Financial Performance - The total revenue for the six months ended June 30, 2023, was approximately HKD 419,600,000, an increase of about 52.64% compared to HKD 274,900,000 for the same period in 2022[18]. - The loss per share for the period was approximately HKD 0.0266, compared to HKD 0.0303 for the same period in 2022[19]. - The gross profit for the six months ended June 30, 2023, was HKD 363,000, compared to HKD 1,369,000 for the same period in 2022[20]. - The total comprehensive loss for the period was HKD 32,618,000, compared to HKD 38,699,000 for the same period in 2022[20]. - The company reported a net loss of HKD 33,973,000 for the six months ended June 30, 2023, compared to a loss of HKD 34,226,000 in the previous period[39]. - For the six months ended June 30, 2023, the company reported a loss attributable to equity holders of HKD 34,226,000, compared to a loss of HKD 38,992,000 for the same period in 2022, representing a 19.5% improvement[75]. - The basic loss per share for the six months ended June 30, 2023, was HKD 2.66, compared to HKD 3.03 for the same period in 2022, indicating a decrease of 12.2%[75]. - The group recorded a loss of approximately HKD 34 million for the period, compared to a loss of HKD 38.2 million in the same period last year[146]. Revenue Breakdown - Total revenue for the six months was HKD 419,628,000, with trade business contributing HKD 411,972,000 and petrochemical storage business contributing HKD 7,656,000[50]. - The company's revenue from trade business increased by 53% compared to the same period last year, rising from HKD 269,571,000 to HKD 411,972,000[54]. - The petrochemical storage business generated revenue of approximately HKD 7.6 million, representing a 43.4% increase from HKD 5.3 million year-on-year[129]. - The group's trading business recorded revenue of approximately HKD 412 million, a 52.64% increase compared to HKD 270 million in the same period last year[128]. - The group's total revenue increased by approximately 52.64% to about HKD 419.6 million, compared to HKD 274.9 million in the same period last year[132]. Expenses and Costs - The administrative expenses for the six months were HKD 20,482,000, a decrease from HKD 23,308,000 in the same period of 2022[20]. - The financing costs for the six months were HKD 13,652,000, compared to HKD 10,785,000 for the same period in 2022[20]. - The cost of revenue increased by approximately 53.31% to about HKD 419.3 million, compared to HKD 273.5 million in the previous year[132]. - The gross profit margin decreased to approximately 0.09%, down from about 0.5% in the same period last year, with gross profit decreasing by approximately 73.72% to about HKD 360,000[132]. - The group’s interest expenses paid to related parties increased significantly to HKD 7,290,000 from HKD 1,394,000[118]. Cash Flow and Liquidity - The operating cash flow for the period was a net outflow of HKD 11,639,000, a significant decrease from the inflow of HKD 17,597,000 in the same period last year[40]. - The company’s cash and cash equivalents at the end of the period stood at HKD 28,567,000, down from HKD 44,426,000 at the end of the previous year[40]. - The company’s financing activities generated a net cash inflow of HKD 29,257,000, primarily from new loans from a related company[40]. - As of June 30, 2023, the group's net current liabilities were approximately HKD 439.8 million, compared to HKD 34.6 million at the end of the previous year[140]. Assets and Liabilities - The total assets of the company as of June 30, 2023, were HKD 513,268,000, with total liabilities amounting to HKD 1,048,801,000[52]. - The company's total assets as of June 30, 2023, were HKD 362,168,000, down from HKD 592,425,000 as of December 31, 2022, a decline of 38.8%[83]. - Trade payables decreased to HKD 262,213,000 as of June 30, 2023, from HKD 415,047,000 as of December 31, 2022, reflecting a reduction of 36.8%[79]. - Trade receivables from third parties decreased to HKD 285,855,000 from HKD 419,580,000, a decline of approximately 31.9%[97]. - The group reported a total trade and other receivables of HKD 327,059,000, down from HKD 573,585,000, representing a decrease of approximately 43%[97]. Corporate Governance and Management - The company has maintained high standards of corporate governance and has complied with all provisions of the corporate governance code during the reporting period[186]. - The audit committee, established on August 3, 2013, consists of independent non-executive directors and is responsible for reviewing financial statements and overseeing internal control procedures[191]. - The company expressed gratitude to management, employees, business partners, customers, and shareholders for their ongoing support[192]. - Changes in the board include the resignation of Mr. Miao Zhibin as a non-executive director and the appointment of Mr. Zhang Shukai as a non-executive director[187]. - Major shareholders include Da Feng Port Overseas with a 57.46% stake, and Jiang Wen with a 5.86% stake as of June 30, 2023[175]. Future Outlook and Strategy - The company has not indicated any new product launches or technological developments during this reporting period[20]. - The group has no major investment or capital asset plans for the future as of June 30, 2023, and will continue to monitor the industry closely[157]. - The group continues to monitor global economic conditions closely to mitigate potential impacts on its operations[126]. - The company has not engaged in any buybacks or sales of its listed securities during the reporting period[180]. - The board believes that the business of Da Feng Port Development Group does not pose a significant competitive threat to the company[181].
盐城港(08310) - 2023 - 中期财报