Financial Performance - For the six months ended September 30, 2023, the group's investment property valuation profit amounted to HKD 386,100,000, compared to a valuation loss of HKD 1,195,100,000 in the same period last year [16]. - The group reported a profit attributable to equity shareholders of HKD 233,400,000 for the six months ended September 30, 2023, compared to a loss of HKD 556,900,000 in the same period last year [31]. - The group’s operating profit before changes in investment property valuation for the six months ended September 30, 2023, was HKD 94,500,000, a slight increase of about 0.8% year-on-year [31]. - Revenue for the six months ended September 30, 2023, was HKD 153,448,000, a decrease of 3.2% from HKD 158,273,000 in the same period of 2022 [87]. - Gross profit for the same period was HKD 104,677,000, down from HKD 113,885,000, reflecting a decline of 8.1% [87]. - The net profit attributable to equity shareholders for the period was HKD 233,360,000, compared to a loss of HKD 556,874,000 in the previous year [87]. - Basic earnings per share for the period was HKD 0.49, a significant improvement from a loss of HKD 1.17 per share in the prior year [87]. - Other income increased to HKD 11,637,000 from HKD 3,466,000, marking a growth of 235.5% [87]. Assets and Liabilities - The group’s equity attributable to shareholders as of September 30, 2023, was HKD 8,410,200,000, up from HKD 8,032,400,000 as of March 31, 2023 [16]. - As of September 30, 2023, total non-current assets amounted to HKD 8,155,629, an increase from HKD 7,771,462 as of March 31, 2023, reflecting a growth of approximately 4.9% [67]. - The total assets less current liabilities stood at HKD 8,730,236, up from HKD 8,348,399 as of March 31, 2023, indicating a growth of approximately 4.6% [67]. - The total liabilities as of September 30, 2023, were HKD 320,072, slightly up from HKD 315,982 as of March 31, 2023, showing a marginal increase of about 0.3% [67]. - The total accounts receivable as of September 30, 2023, was HKD 121,541,000, down from HKD 136,566,000 as of March 31, 2023, indicating a decrease of 11.0% [105]. Cash Flow - As of September 30, 2023, the group had bank deposits and cash totaling HKD 621,631,000, compared to HKD 511,641,000 as of March 31, 2023 [29]. - The net cash generated from operating activities for the six months ended September 30, 2023, was HKD 108,367, compared to HKD 79,922 for the same period in 2022, representing an increase of about 35.6% [70]. - The cash and cash equivalents as of September 30, 2023, were HKD 621,631, an increase from HKD 569,132 in the previous year, marking a rise of about 9.2% [70]. - The company reported a net increase in cash and cash equivalents of HKD 110,105 for the six months ended September 30, 2023, compared to HKD 76,370 in the previous year, indicating a growth of about 44.2% [70]. - The net cash inflow from investing activities for the six months ended September 30, 2023, was HKD 7,291, a recovery from a cash outflow of HKD 1,757 in the same period last year [70]. Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.06 per share for the six months ended September 30, 2023, compared to HKD 0.04 per share in the previous year [31]. - The total equity attributable to equity shareholders as of September 30, 2023, was HKD 4,413,728,000, compared to HKD 4,059,668,000 at the same date in 2022, representing an increase of 8.7% [89]. - The company has a significant shareholder, Tiande Limited, holding 50.001% of the voting shares [38]. Governance and Management - The company’s chairman and CEO roles are held by the same individual, with daily management shared among executive directors [43]. - The company has not established an internal audit function, believing existing risk management and internal controls are sufficient [44]. - The company’s board includes three independent non-executive directors to ensure a balance of power [43]. - The board confirmed compliance with the Corporate Governance Code, except for the separation of the roles of Chairman and CEO, and the establishment of an internal audit function [55]. - The company maintained its policy on director remuneration, with no changes in the total amount paid compared to the same period last year [53]. - The company has adopted the standard code for securities transactions by directors and confirmed compliance by all directors for the six months ended September 30, 2023 [58]. Other Financial Metrics - The group’s interest income for the six months ended September 30, 2023, was HKD 11,475,000, significantly up from HKD 3,240,000 in the same period last year [8]. - The company reported a net foreign exchange loss of HKD 2,091,000, an improvement from a loss of HKD 3,960,000 in the previous year [99]. - The company has a diversified customer base, with one customer accounting for over 10% of revenue, generating approximately HKD 19,416,000 during the period [96]. - The company’s financial report was prepared in accordance with the Hong Kong Listing Rules and relevant accounting standards [60]. - The company’s board of directors has reviewed the interim financial results and found no significant issues that would affect the financial statements [49].
天德地产(00266) - 2024 - 中期财报