Sales and Development Projects - The Grand Marine residential development has sold over 94% of its 776 units, totaling approximately 400,000 square feet[15]. - The Grands project has achieved approximately 56% sales of its 76 units, with contracted sales amounting to approximately $210 million[16]. - The Fanling project is planned to be completed by mid-2025, with a total gross floor area of approximately 36,000 square feet[17]. - The North Point project is expected to be completed by 2027, covering a site area of approximately 3,240 square feet with a developable gross floor area of approximately 30,000 square feet[18]. - Cristallo luxury residential project has sold 15 out of 18 units as of September 30, 2023[22]. Financial Performance - The Group's consolidated revenue for FH 2023/24 was $191.7 million, a significant decline of 96.1% from $4,920.1 million in FH 2022/23[29]. - Consolidated gross profit decreased by 95.2% to $97.4 million in FH 2023/24, down from $2,036.7 million in the previous period[29]. - Net profit for FH 2023/24 decreased by 92.1% to $111.1 million, down from $1,410.2 million in FH 2022/23[32]. - Total comprehensive income for the period was HK$116.81 million, a decrease from HK$1,392.66 million in the same period of 2022[43]. - The profit for the period was HK$111.12 million, down from HK$1,410.17 million in the previous year[43]. Revenue and Expenses - Revenue from data centre leasing increased by 17% year-on-year to $133.2 million, driven by higher utilization rates[24]. - Construction revenue from external customers for the six months ended September 30, 2023, was $35.7 million, reflecting a 20.1% increase compared to the same period in 2022[25]. - Operating expenses reduced by 84.0% to $45.2 million in FH 2023/24, compared to $282.6 million in FH 2022/23, primarily due to decreased property sales[29]. - Revenue for the six months ended September 30, 2023, was approximately HK$191.70 million, a significant decrease from HK$4,920.09 million in the same period of 2022[41]. Assets and Liabilities - The Group's outstanding bank borrowings increased to approximately $5,587 million as of September 30, 2023, from approximately $4,630 million on March 31, 2023[33]. - Cash and bank balances as of September 30, 2023, were approximately $573.6 million, a decrease from approximately $611.8 million on March 31, 2023[34]. - Total assets as of September 30, 2023, amounted to HKD 7,342,859,000, an increase from HKD 6,914,563,000 as of March 31, 2023, representing a growth of approximately 6.2%[47]. - The Group's total trade and other payables were $189,442,000 as of September 30, 2023, down from $197,905,000 in March 2023[103]. Shareholder Information - The company declared dividends of HKD 283,908,000 for the current year, compared to HKD 56,782,000 for the previous year, indicating a significant increase in shareholder returns[48]. - Basic earnings per share for the six months ended September 30, 2023, was $0.08, down from $0.99 in the same period of 2022[87]. - The total number of issued and fully paid shares increased to 1,420,222,000, up from 1,419,812,000 as of March 31, 2023, reflecting an increase of 0.03%[111]. - The company declared an interim dividend of 4.0 HK cents per share, payable on December 20, 2023, to shareholders registered on December 1, 2023[123]. Corporate Governance - The Company has complied with all code provisions set out in the Corporate Governance Code throughout the first half of 2023/24[155]. - All Directors confirmed their compliance with the Model Code for Securities Transactions throughout the first half of 2023/24[156]. - The Audit Committee reviewed the Group's unaudited condensed consolidated interim financial statements for the first half of 2023/24 with no disagreements noted[157]. Segment Performance - For the six months ended September 30, 2023, total segment revenue was HK$191.7 million, with construction segment revenue at HK$171.5 million, property leasing at HK$151.6 million, and property development at HK$18.9 million[64]. - The segment results showed a profit before taxation of HK$111.8 million, with construction contributing HK$12.2 million, property leasing HK$92.2 million, and property development reporting a loss of HK$5.0 million[64]. Investment Properties - An unrealized fair value gain on investment properties of $109.8 million was recognized in FH 2023/24, compared to a loss of $4.1 million in the previous period[30]. - The Group recognized a net fair value gain of $109,822,000 on investment properties as of September 30, 2023, compared to a net loss of $4,134,000 in 2022[94].
佳明集团控股(01271) - 2024 - 中期财报