Financial Performance - For the six months ended June 30, 2022, the group recorded unaudited revenue of approximately HKD 82.2 million, a decrease of about HKD 14.3 million or 14.8% compared to HKD 96.5 million for the same period in 2021[5] - The unaudited loss (after tax) for the six months ended June 30, 2022, was approximately HKD 13.4 million, compared to a loss of HKD 22.7 million for the same period in 2021[5] - Basic and diluted loss per share for the six months ended June 30, 2022, was HKD 1.01, compared to HKD 1.95 for the same period in 2021[5] - The group reported a gross profit of HKD 48.3 million for the six months ended June 30, 2022, down from HKD 53.7 million in the same period of 2021, reflecting a gross margin decrease[7] - The company reported a total comprehensive loss of HKD (12,439) thousand for the six months ended June 30, 2022, compared to a loss of HKD (22,502) thousand for the same period in 2021[10] - The loss attributable to equity shareholders for the first half of 2022 was approximately HKD 13.4 million, down from a loss of approximately HKD 22.7 million in the same period of 2021[70] Revenue Breakdown - Total revenue for the three months ended June 30, 2022, was HKD 43,626 thousand, with furniture and home accessories sales contributing HKD 35,855 thousand[21] - Revenue from furniture and home decor sales was HKD 65,595,000 for the six months ended June 30, 2022, compared to HKD 77,558,000 for the same period in 2021, reflecting a decrease of about 15.4%[27] - Revenue from hotel services for the six months ended June 30, 2022, was HKD 7,301,000, down from HKD 11,424,000 in the same period of 2021, a decrease of approximately 36.5%[27] - Revenue from external customers in Hong Kong for the six months ended June 30, 2022, was HKD 52,546,000, down from HKD 60,834,000 in 2021, a decrease of approximately 13.5%[29] - Revenue from the United Arab Emirates for the six months ended June 30, 2022, was HKD 24,754,000, an increase from HKD 22,221,000 in 2021, reflecting a growth of approximately 11.4%[29] Assets and Liabilities - Total assets as of June 30, 2022, were HKD 121.5 million, a decrease from HKD 133.3 million as of December 31, 2021[8] - The net asset value of the group as of June 30, 2022, was HKD 76.3 million, down from HKD 88.7 million as of December 31, 2021[8] - The company’s total liabilities as of June 30, 2022, were HKD 19,898,000, slightly up from HKD 19,811,000 as of December 31, 2021[46] - The total bank borrowings as of June 30, 2022, were approximately HKD 6.4 million, an increase from HKD 0.9 million as of December 31, 2021[79] - The debt-to-equity ratio as of June 30, 2022, was 8.4%, up from 1.0% as of December 31, 2021, reflecting the increase in bank borrowings[81] Cash Flow and Investments - The group’s cash and cash equivalents decreased to HKD 14.7 million as of June 30, 2022, from HKD 33.4 million as of December 31, 2021[8] - The net cash used in investing activities for the six months ended June 30, 2022, was HKD (4,886) thousand, compared to HKD (452) thousand in the same period of 2021[11] - The company has invested HKD 6 million in non-listed funds and HKD 4 million in a non-refundable deposit for a proposed joint venture as of June 30, 2022[85] Operational Efficiency - The group’s operating loss for the six months ended June 30, 2022, was HKD 13.0 million, an improvement from HKD 22.2 million in the same period of 2021[7] - Management and other operating expenses significantly decreased from approximately HKD 57.2 million in the first half of 2021 to approximately HKD 42.9 million in the first half of 2022, a reduction of about 25.0%[68] - Sales and distribution costs decreased from approximately HKD 22.8 million in the first half of 2021 to approximately HKD 22.2 million in the first half of 2022, a reduction of about 2.7%[67] Shareholder Information - John Warren MCLENNAN and Jennifer Carver each hold 414,500,000 shares, representing 31.40% of the company[90] - Major shareholders include Double Lions Limited, which holds 31.40% of the issued ordinary shares[97] - The total number of issued shares as of June 30, 2022, was 1,320,000,000[91] Employee and Management - The total number of employees was 150, down from 168 as of December 31, 2021[88] - Total employee costs for the first half of 2022 were approximately HKD 32.1 million, compared to HKD 39.3 million in the same period of 2021, representing a decrease of about 18.3%[88] - The total compensation for key management personnel for the six months ended June 30, 2022, was HKD 3,198,000, down from HKD 8,828,000 in the same period of 2021[53] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial information in this report[113] - The company has adopted a code of conduct for directors regarding securities trading, which complies with GEM listing rules[111] - The board currently consists of four executive directors, one non-executive director, and five independent non-executive directors, ensuring an appropriate balance of power and oversight[115]
PACIFIC LEGEND(08547) - 2022 - 中期财报