Financial Performance - The group's revenue for the six months ended June 30, 2022, was approximately HKD 95,864,000, a decrease of 6.04% compared to HKD 102,031,000 in the previous year[9]. - EBITDA for the same period was HKD 41,239,000, reflecting a decline of 13.10% from HKD 47,453,000 in the prior year[9]. - Net profit for the period decreased by 22.81% to approximately HKD 19,090,000, down from HKD 24,730,000 in the previous year[9]. - Revenue from elderly care services dropped from approximately HKD 76,507,000 to about HKD 72,381,000, a decrease of approximately 5.39%[21]. - Revenue from personal client rentals decreased from approximately HKD 54,275,000 to about HKD 50,171,000, a decline of approximately 7.56%[23]. - Profit before tax decreased to HKD 23,102,000, down 22.5% from HKD 29,830,000 in the same period last year[91]. - Net profit for the period was HKD 19,090,000, a decline of 22.9% compared to HKD 24,730,000 in 2021[91]. - Basic and diluted earnings per share were HKD 4.36, down from HKD 5.53 in the previous year[91]. Cash and Assets - Cash and bank balances increased by 20.78% to HKD 80,109,000, compared to HKD 66,329,000 as of December 31, 2021[9]. - Current assets as of June 30, 2022, were approximately HKD 101,863,000, compared to HKD 85,093,000 as of December 31, 2021[32]. - Total cash and bank balances were approximately HKD 80,109,000 as of June 30, 2022, up from HKD 66,329,000 as of December 31, 2021[33]. - The total equity of the group was approximately HKD 193,632,000 as of June 30, 2022, compared to HKD 179,141,000 as of December 31, 2021[37]. - Total non-current assets decreased to HKD 179,395,000 from HKD 193,667,000 at the end of the previous year[93]. - Trade receivables surged by 208.48% to HKD 509,000 from HKD 165,000 in the previous year[9]. Operational Insights - The company operates seven elderly care homes in Hong Kong, including four "Shui On" homes and one "Guardian Home"[12]. - The average occupancy rate for improved placement plan elderly homes was 85.05%, down from 94.56% in the previous year[27]. - Employee costs increased from approximately HKD 40,785,000 to about HKD 47,064,000, an increase of approximately 15.40%[29]. - The group recorded a profit of approximately HKD 19,090,000, down from about HKD 24,730,000 in the previous year[31]. - The company plans to enhance staff training and expand its network of elderly care homes strategically located in Hong Kong[14]. Governance and Compliance - The company has complied with the GEM Listing Rules and corporate governance codes during the reporting period[55]. - The company has not engaged in any competitive business activities that could conflict with its operations during the reporting period[57]. - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[84]. - The company is subject to a concert party agreement, which allows 易先生 and associated parties to collectively control approximately 64.75% of the issued share capital[78]. Shareholder Information - As of June 30, 2022, Mr. Yi holds 258,996,000 shares, accounting for approximately 64.75% of the total shares outstanding, which is based on 400,000,000 shares[63]. - Mr. Lei holds 36,032,000 shares, representing approximately 9.01% of the total shares outstanding as of June 30, 2022[67]. - The company is approximately 62.18% owned by Ruihua Limited, which is 100% owned by Ruizhuan Limited, and Ruizhuan is 59.88% owned by Hengzhi Development[71]. - The report indicates that there are no other interests or short positions held by directors or key executives in the company or its associated corporations as of June 30, 2022[72]. Future Outlook - The demand for elderly care services is expected to continue rising due to Hong Kong's aging population, with projections indicating a near doubling of the elderly population by 2040[14]. - The management team is focused on optimizing resources and implementing cost control measures to mitigate the impact of increased operational costs due to the COVID-19 pandemic[13].
恒智控股(08405) - 2022 - 中期财报