Financial Performance - The company reported a revenue of HKD 120,962,000 for the six months ended September 30, 2023, a decrease of 11.3% compared to HKD 136,054,000 in the same period last year[8]. - The company incurred a loss before tax of HKD 26,658,000, compared to a loss of HKD 24,790,000 in the previous year, reflecting a year-over-year increase in losses of 7.5%[8]. - Basic and diluted loss per share was HKD 0.038, compared to HKD 0.035 in the previous year, indicating an 8.6% increase in loss per share[8]. - The company reported a total comprehensive loss of HKD (26,658,000) for the six months ended September 30, 2023, compared to a loss of HKD (24,790,000) for the same period in 2022[14]. - The loss attributable to the company's owners was approximately HKD 26,658,000, compared to a loss of HKD 24,790,000 in the same period last year, indicating an increase in losses[61]. Assets and Liabilities - Total assets decreased to HKD 731,197,000 as of September 30, 2023, down from HKD 790,015,000 as of March 31, 2023, representing a decline of 7.4%[10]. - Current liabilities decreased to HKD 291,339,000 from HKD 346,520,000, a reduction of 15.9%[12]. - The company’s net assets decreased to HKD 384,474,000 from HKD 411,132,000, reflecting a decline of 6.5%[12]. - The total cash and cash equivalents decreased to HKD 27,164,000 as of September 30, 2023, down from HKD 62,568,000 at the beginning of the period, representing a decline of approximately 56.6%[16]. - The group’s net asset value was approximately HKD 384,474,000 as of September 30, 2023, down from HKD 411,132,000 as of March 31, 2023[81]. Cash Flow - The net cash used in operating activities for the six months ended September 30, 2023, was HKD (34,711,000), compared to HKD (2,345,000) for the same period in 2022, indicating a significant increase in cash outflow[16]. - The net cash generated from investing activities was HKD 28,541,000 for the six months ended September 30, 2023, a recovery from a cash outflow of HKD (13,131,000) in the previous year[16]. - The company experienced a net cash outflow from financing activities of HKD (29,234,000) for the six months ended September 30, 2023, compared to HKD (32,273,000) in the previous year, indicating a slight improvement[16]. Revenue Breakdown - Brokerage income decreased to HKD 1,913,000 from HKD 2,384,000, representing a decline of 19.7% year-over-year[25]. - Interest income from mortgage financing was HKD 6,664,000, slightly down from HKD 6,950,000, a decrease of 4.1%[25]. - The total income from external customers across all segments was HKD 11,337,000, down from HKD 12,409,000, reflecting a decline of 8.6%[27]. - The financial services segment reported a loss of HKD 7,994,000, while the mortgage financing segment generated a profit of HKD 4,581,000[27]. Credit and Risk Management - The company recorded a provision for expected credit losses of HKD 12,400,000 for financing business receivables, a decrease from HKD 14,801,000 in the previous period, indicating improved credit quality[38]. - The group closely monitors credit risk associated with receivables, taking legal action if clients fail to respond to repayment plans[88]. - The group faces price risk from equity investments classified at fair value through profit or loss, which will be monitored for potential hedging[97]. Corporate Governance - The company has confirmed compliance with the corporate governance code during the review period, with no significant deviations reported[108]. - The company is committed to maintaining high standards of corporate governance as a key element of its successful development[108]. - The company’s audit committee reviewed the unaudited interim financial statements for the period, ensuring compliance with financial reporting standards[129]. Shareholder Information - As of September 30, 2023, Mr. Zhang Haohong holds a total of 467,759,471 shares, representing 65.95% of the company's issued shares[102]. - The company has a share option plan that allows for the issuance of up to 639,480,610 shares, which is 10% of the issued share capital as of the adoption date[111]. - The maximum number of shares that can be issued to eligible participants under the plan within any twelve-month period is capped at 1% of the issued shares[112].
STYLAND HOLD(00211) - 2024 - 中期财报