Financial Performance - The company's profit before tax for the six months ended September 30, 2023, was HKD 34,758,000, a decrease of 66.3% compared to HKD 103,059,000 in the same period of 2022[1]. - The group reported a net profit attributable to shareholders of approximately HKD 30,744,000, down 63.7% from HKD 84,690,000 in the previous year[34]. - The basic earnings per share for the period were approximately HKD 0.0128, compared to HKD 0.0354 for the same period last year, reflecting a decrease of 63.8%[34]. - Net profit for the period was HKD 31,789, down 62.9% from HKD 85,549 in the same period of 2022[48]. - Total comprehensive income for the period was HKD 14,680, a decrease of 53% compared to HKD 31,232 in the previous year[48]. - The decline in profit was primarily due to the cessation of government support subsidies, which amounted to approximately HKD 15,116,000 in the previous year, and a net loss of approximately HKD 19,595,000 from the sale of Australian properties and a settlement with an Australian hotel operator[105]. Revenue and Sales - Revenue from external customers in Hong Kong for the six months ended September 30, 2023, was HKD 306,748,000, a decrease of 8.7% from HKD 335,948,000 in the same period of 2022[12]. - The group's total revenue for the six months ended September 30, 2023, was approximately HKD 312,085,000, a decrease of 9.4% compared to HKD 344,429,000 for the same period in 2022[30]. - Revenue from newspaper publishing and advertising was HKD 233,675,000, down 8.1% from HKD 254,165,000 in the previous year[26]. - Internet subscription and advertising revenue decreased to HKD 50,082,000 from HKD 60,442,000, representing a decline of 17.8%[26]. - The overall revenue of Oriental Daily decreased by approximately HKD 20,490,000, a decline of about 8% compared to the same period last year[115]. - Digital media business revenue fell by approximately HKD 10,360,000, down about 17% year-on-year[115]. Cash Flow and Assets - Operating cash flow before changes in working capital was HKD 50,775,000, down 47.4% from HKD 96,568,000 year-on-year[1]. - The net cash from operating activities for the period was HKD 65,945,000, compared to HKD 70,987,000 in the previous year, reflecting a decline of 7.9%[1]. - The group recorded a decrease in cash and cash equivalents to HKD 253,229,000 as of September 30, 2023, down from HKD 665,196,000 as of March 31, 2023[41]. - The net cash and cash equivalents decreased to HKD 531,673,000 as of September 30, 2023, down from HKD 665,196,000 as of March 31, 2023, indicating a decline of approximately 20.1%[65]. - Current assets increased to HKD 1,204,685,000 as of September 30, 2023, compared to HKD 1,119,815,000 as of March 31, 2023, representing an increase of about 7.6%[62]. - The total assets of the company as of September 30, 2023, were HKD 1,948,405,000, an increase from HKD 1,892,177,000 as of March 31, 2023[10]. Dividends and Shareholder Returns - The company did not declare an interim dividend for the reporting period, compared to an interim dividend of HKD 0.03 per share in the previous year[15]. - The group has not declared a final dividend for the year ended March 31, 2023, compared to a total dividend of approximately HKD 143,876,000 for the previous period[33]. Liabilities and Equity - The total liabilities increased to HKD 128,388,000 as of September 30, 2023, compared to HKD 86,163,000 as of March 31, 2023, which is an increase of about 48.9%[62]. - The company’s equity attributable to owners as of September 30, 2023, was HKD 1,732,062,000, an increase from HKD 1,717,885,000 as of March 31, 2023, reflecting a growth of approximately 0.8%[63]. - The net asset value as of September 30, 2023, was HKD 1,744,535,000, up from HKD 1,729,855,000 as of March 31, 2023, showing a slight increase of approximately 0.8%[63]. Impairments and Fair Value - The company reported a loss of HKD 6,553,000 in fair value of investment properties for the period, with no comparable figure in the previous year[1]. - The fair value loss on investment properties for the reporting period was approximately HKD 6,553,000, compared to no loss for the same period in 2022[70]. - The group confirmed a property impairment of approximately HKD 5,224,000 as of September 30, 2023, compared to no impairment in the previous year[35]. - The valuation of the group's investment properties decreased by approximately HKD 16,500,000, or about 13%, compared to March 31, 2023[135]. Employment and Operations - As of September 30, 2023, the group employed 872 staff, a decrease from 908 staff as of March 31, 2023[123]. - The group plans to continue implementing cost-saving measures to manage production costs, which are expected to remain under pressure[119]. Corporate Governance - The board of directors confirmed compliance with the standard code for securities trading throughout the reporting period[126]. - The group has adopted most of the best practices outlined in the corporate governance code during the reporting period[125]. Shareholding Structure - The total issued shares of the company as of September 30, 2023, were 2,397,917,898 shares[154]. - As of September 30, 2023, Conyers Trustee Services (BVI) Limited holds 1,547,851,284 shares, representing 64.55% of the company's total issued shares[156]. - The ownership structure indicates significant control by a few entities, with the top three shareholders holding over 64% of the shares[156].
东方企控集团(00018) - 2024 - 中期财报