Financial Performance - For the six months ended September 30, 2023, the company reported a loss attributable to shareholders of approximately HKD 51,740,000, a decrease of about 61.6% compared to a loss of HKD 134,744,000 in the same period of 2022[2]. - Total revenue increased by approximately 30.2% to HKD 88,864,000 from HKD 68,243,000 in the previous year[2]. - The company's loss per share decreased from HKD 0.33 to HKD 0.13[2]. - The company recorded a fair value loss on investment properties of HKD 90,700,000, compared to a loss of HKD 119,140,000 in the same period of 2022[11]. - Basic profit, excluding the fair value loss on investment properties, turned from a loss of HKD 15,604,000 in the previous year to a profit of HKD 38,960,000[20]. - Total comprehensive income for the period was HKD 71,815,000, contrasting with a total comprehensive loss of HKD 134,744,000 in the same period last year[62]. - The company reported a loss before tax of HKD 44,397,000 for the six months ended September 30, 2023, compared to a loss of HKD 128,340,000 for the same period in 2022[89]. - Basic loss per share for the period was HKD 0.128, an improvement from a loss of HKD 0.333 per share in the previous year[93]. Revenue Breakdown - Rental income for the period rose to HKD 55,976,000, an increase of 14.2% from HKD 49,010,000 in the same period last year[5]. - The logistics division's revenue fell by approximately 12.6% to HKD 9,000,000 compared to HKD 10,290,000 in the previous year[22]. - Revenue for the six months ended September 30, 2023, was HKD 88,864,000, representing a 30.3% increase from HKD 68,243,000 in the same period of 2022[62]. - Property investment income increased to HKD 55,976,000, up 14.5% from HKD 49,012,000 year-on-year[62]. - Interest income surged to HKD 21,194,000, a significant increase from HKD 5,512,000 in the previous year[62]. - Revenue from warehouse operations for the six months ended September 30, 2023, was HKD 9,000,000, down from HKD 10,293,000 in the previous year, representing a decline of approximately 12.6%[70]. Cash Flow and Assets - As of September 30, 2023, the company's cash and bank balances were HKD 20,236,000, down from HKD 99,306,000 as of March 31, 2023[13]. - The net cash generated from operating activities was HKD 63,368,000, compared to HKD 167,402,000 in the previous year, indicating a decrease of about 62.2%[65]. - The company experienced a net cash outflow from investing activities of HKD 130,378,000, an improvement from HKD 266,092,000 in the prior year, reflecting a reduction of approximately 51%[65]. - Cash and cash equivalents at the end of the period stood at HKD 20,236,000, up from HKD 16,324,000 year-over-year, marking an increase of about 24.5%[65]. - Current assets rose to HKD 3,104,507,000, compared to HKD 3,075,939,000 at the end of the previous reporting period[63]. - Total assets as of September 30, 2023, amounted to HKD 4,125,932,000, an increase from HKD 4,056,534,000 at the end of March 2023[88]. Shareholder Returns and Dividends - The company declared an interim dividend of HKD 0.025 per share, up from HKD 0.02 per share in the previous year[21]. - The company paid dividends amounting to HKD 12,060,000, down from HKD 24,153,000, indicating a decrease of approximately 50%[65]. - Major shareholder Kenan Financial Limited holds approximately 36.45% of the issued shares, totaling 147,610,335 shares[34]. Corporate Governance and Future Outlook - The group has complied with all corporate governance codes except for specific provisions regarding the separation of roles between the chairman and CEO[39]. - The company anticipates that improvements in local consumption and the completion of ongoing renovations will enhance competitiveness and rental rates in the future[23]. - The group aims to provide higher returns to shareholders in the next economic upcycle as the Hong Kong economy is expected to recover[25]. Investments and Financial Position - The group is exploring several investment opportunities and has engaged professional consultants for development research[25]. - The group's net asset value increased by approximately 1.5% to HKD 3,960,738,000, with net asset value per share rising to HKD 9.78 from HKD 9.63[30]. - The fair value of investment properties at the end of the period was HKD 2,916,700,000, up from HKD 2,854,500,000 at the beginning of the period[94]. - The group has committed to acquiring properties, machinery, and equipment, as well as renovating investment properties, amounting to HKD 22,357,000 as of September 30, 2023, up from HKD 8,274,000 as of March 31, 2023[121]. Employee Costs and Management - Employee costs increased by approximately 22.0% to HKD 10,923,000 compared to HKD 8,950,000 for the six months ended September 30, 2022[26]. - The group has maintained a stable employee count of 39 as of September 30, 2023, consistent with the previous period[31]. - The group reported a total of HKD 667,000 in compensation for directors and key management personnel during the period, a decrease from HKD 778,000 for the six months ended September 30, 2022[122]. Financial Assets and Liabilities - The group’s financial assets measured at fair value through profit or loss include listed equity investments valued at HKD 64,903,000 as of September 30, 2023, down from HKD 71,095,000 as of March 31, 2023[129]. - The group’s non-listed equity investments are valued at HKD 15,313,000 as of September 30, 2023, a slight decrease from HKD 15,366,000 as of March 31, 2023[129]. - The group’s net gain from non-listed investments during the period was HKD 532,000, compared to a loss of HKD 1,245,000 for the six months ended September 30, 2022[131]. - The group’s total receivables over 90 days as of September 30, 2023, amounted to HKD 972,000, compared to HKD 170,000 as of March 31, 2023[127]. - The company believes that the carrying value of other financial assets and liabilities measured at amortized cost is similar to their fair value[132]. - The fair value of these financial assets and liabilities is measured using widely accepted valuation models based on discounted cash flow analysis[132].
安全货仓(00237) - 2024 - 中期财报