Financial Performance - Revenue for the six months ended December 31, 2023, was HKD 18,558,000, an increase of 6.86% compared to HKD 17,368,000 for the same period in 2022[4] - Gross profit for the same period was HKD 13,758,000, up 35.56% from HKD 10,160,000 year-on-year[4] - The company reported a loss before tax of HKD 116,515,000, significantly higher than the loss of HKD 20,459,000 in the previous year, representing a 470.73% increase in losses[4] - Total comprehensive loss for the period was HKD 119,903,000, compared to a loss of HKD 22,681,000 in the same period last year, indicating a 429.36% increase in total losses[6] - The company reported a loss of HKD 116,463,000 for the period, compared to a loss of HKD 20,639,000 in the previous period, indicating a significant increase in losses[13] - Total comprehensive income for the period amounted to a loss of HKD 119,851,000, compared to a loss of HKD 22,669,000 in the prior period, representing an increase in comprehensive losses by approximately 429%[13] Cash Flow and Assets - Cash and cash equivalents at the end of the period were HKD 30,996,000, down from HKD 93,098,000 at the end of the previous year, reflecting a decrease of 66.73%[9] - Non-current assets decreased to HKD 1,360,040,000 from HKD 1,473,126,000, a decline of 7.66%[8] - The company’s net asset value decreased to HKD 1,497,119,000 from HKD 1,616,943,000, representing a decline of 7.39%[8] - The company reported a net cash outflow from financing activities of HKD 36,203,000, compared to an outflow of HKD 3,149,000 in the previous year[9] - The total reportable segment assets as of December 31, 2023, were HKD 1,321,529,000, a decrease from HKD 1,524,779,000 as of December 31, 2022[27] Shareholder Information - The basic and diluted loss per share for the period was HKD 20.54 cents, compared to HKD 3.64 cents in the previous year, indicating a significant increase in loss per share[4] - As of December 31, 2023, the total equity attributable to the company's owners decreased to HKD 1,497,597,000 from HKD 1,617,369,000 as of July 1, 2023, reflecting a decline of approximately 7.4%[13] - The group did not recommend an interim dividend for the six months ended December 31, 2023, consistent with the previous year[38] Segment Performance - The reported segment revenue for the six months ended December 31, 2023, was HKD 18,558,000, an increase from HKD 17,368,000 in the same period of 2022, representing a growth of approximately 6.9%[29] - The reported segment loss for the six months ended December 31, 2023, was HKD (108,821,000), compared to a loss of HKD (12,977,000) in the same period of 2022, indicating a significant increase in losses[29] - The investment property rental income for the six months ended December 31, 2023, was HKD 10,672,000, slightly down from HKD 10,796,000 in the same period of 2022[33] Financial Liabilities and Costs - The company incurred financing costs of HKD 4,268,000, which is an increase of 49.38% from HKD 2,858,000 in the previous year[4] - The group had secured bank borrowings of approximately HKD 172,593,000 as of December 31, 2023, down from HKD 184,250,000 as of June 30, 2023[68] - The group recorded a net foreign exchange loss of HKD 562,000 for the six months ended December 31, 2023, compared to a gain of HKD 270,000 in the same period of 2022[35] Investment Activities - The company is involved in property investment and development projects in the UK, as well as holding ten commercial and residential properties in Hong Kong, the UK, and Japan[64] - The company acquired two serviced apartments in Hokkaido, Japan, benefiting from long-term growth in inbound tourism[103] - The company has arranged foreign exchange bank financing in GBP, EUR, JPY, and AUD to hedge against foreign exchange risks related to property acquisitions[84] Market Conditions - The overall unit rental prices increased during the period, despite a decline in transaction volumes and unit sale prices in the residential property market[64] - The non-residential property market remained quiet, with only slight changes in overall rental prices and a significant decrease in transaction activities[65] - The retail sector remains weak, with a confirmed impairment loss of approximately HKD 21,743,000 due to declining prices and rents[101] Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[17] - The audit committee has reviewed the unaudited consolidated results for the period and confirmed compliance with applicable accounting standards and regulations[120]
宏辉集团(00183) - 2024 - 中期业绩