Financial Performance - The consolidated revenue for the six months ended September 30, 2023, was HKD 5 million, down from HKD 83 million for the same period in 2022[15]. - The company recorded a gross loss of HKD 13 million for the period, compared to a gross profit of HKD 13 million in the previous year[15]. - The net loss for the six months ended September 30, 2023, was HKD 60 million, compared to a net loss of HKD 55 million for the same period in 2022[15]. - Basic and diluted loss per share for the period was HKD 0.156, an increase from HKD 0.135 in the previous year[15]. - The group reported a loss of HKD 59.98 million for the six months ended September 30, 2023, compared to a loss of HKD 55.47 million for the same period in 2022[40]. - Total comprehensive loss for the period was HKD 63.25 million, compared to HKD 67.87 million in the previous year[42]. - The company reported a loss of HKD 58,610,000 for the six-month period ending September 30, 2023[48]. - The total comprehensive income for the period was HKD (61,352,000), including other comprehensive losses of HKD 2,742,000[48]. - The group incurred a pre-tax loss of HKD 59,981,000, reflecting ongoing financial challenges[75]. Assets and Liabilities - The total assets of Rykadan Capital Limited as of September 30, 2023, amounted to HKD 13.13 billion, a decrease from HKD 13.58 billion as of March 31, 2023[13]. - The company's cash and bank deposits as of September 30, 2023, were HKD 128 million, representing 9.7% of total assets, down from 12.3% as of March 31, 2023[18]. - As of September 30, 2023, the total debt of the group was HKD 329 million, an increase from HKD 313 million as of March 31, 2023[31]. - The group's debt-to-asset ratio increased to 25.0% from 23.0% as of March 31, 2023[30]. - Current assets decreased to HKD 672 million from HKD 698 million, while current liabilities increased to HKD 262 million from HKD 232 million, resulting in a current ratio decline to 2.57 from 3.01[31]. - The total liabilities of the group increased to HKD 346,629,000 as of September 30, 2023, compared to HKD 328,199,000 as of March 31, 2023[80]. - The total amount of bank loans due within one year increased to HKD 94,118,000 as of September 30, 2023, compared to HKD 60,108,000 as of March 31, 2023, marking an increase of about 56.4%[95]. - The total bank loans outstanding as of September 30, 2023, amounted to HKD 328,843,000, up from HKD 312,799,000 as of March 31, 2023, representing an increase of approximately 5.1%[99]. Investment and Projects - Rykadan Capital Limited has maintained a cautious approach in seeking and evaluating real estate investment opportunities amid rising interest rates and a slowing property market[12]. - The company has commenced the delivery of pre-sold units in its projects in Hong Kong, including the Wong Chuk Hang and Shek Pai Tau projects[12]. - The Anoakia project is expected to be completed by January 2024, with a total area of 11,335 square feet[23]. - The Graphite project in the UK is currently under construction and is expected to be completed by December 2024, with a 21.25% equity stake held by the company[24]. - The company plans to seek acquisition opportunities for value-added assets and property projects amid ongoing market uncertainties and property price adjustments[28]. - The company is exploring potential affordable housing elements in the high-density redevelopment projects in the Monterey Park Towne Centre project, with revised plans expected to be approved by early 2024[23]. - The company has completed the construction of the Shek Pai Tau and Wong Chuk Hang projects, with ongoing sales efforts for remaining units in the upcoming quarters[23]. Cash Flow and Financing - Operating cash flow showed a net outflow of HKD 37,527,000 compared to an inflow of HKD 36,322,000 in the previous year[53]. - New bank loans raised amounted to HKD 71,884,000, while repayments totaled HKD 55,679,000[53]. - Cash and cash equivalents decreased by HKD 37,857,000, with a closing balance of HKD 127,919,000[56]. - The foreign exchange impact on cash and cash equivalents was a decrease of HKD 1,709,000[56]. Corporate Governance and Shareholder Information - The board does not recommend the payment of an interim dividend for the six months ended September 30, 2023[16]. - The board confirmed that all directors and relevant employees adhered to the securities trading code during the interim reporting period[134]. - The company appointed a new independent non-executive director on August 15, 2023, and saw the resignation of another director on the same date[131]. - The company has complied with the corporate governance code as outlined in the listing rules, with some deviations noted regarding the roles of the chairman and CEO[132]. - Tiger Crown Limited holds 97,104,000 shares, representing 25.86% of the company, while Rykadan Holdings Limited holds a total of 148,957,211 shares, accounting for 39.67%[123][125]. Market Outlook - The company maintains a cautious outlook on the property market due to macroeconomic challenges and geopolitical tensions, focusing on completing existing project deliveries[28]. - The company is optimistic about the long-term investment prospects in the hotel industry due to the gradual recovery of the tourism sector[28]. - The company continues to develop competitively priced new products to address market challenges in the construction and interior decoration materials sector[26].
宏基资本(02288) - 2024 - 中期财报