Financial Performance - For the six months ended January 31, 2024, the company reported a revenue of HKD 493,358,000, a decrease of 3.5% compared to HKD 513,260,000 for the same period in 2023[4] - The gross profit for the same period was HKD 198,874,000, down 18.1% from HKD 242,799,000 year-on-year[4] - The operating loss increased to HKD 73,049,000, compared to a loss of HKD 63,811,000 in the previous year, reflecting a deterioration of 14.5%[4] - The net loss attributable to shareholders was HKD 105,775,000, compared to HKD 82,431,000 in the prior year, representing a 28.4% increase in losses[4] - The company reported a total comprehensive loss of HKD 107,986,000 for the period, compared to HKD 90,907,000 in the previous year, marking an increase of 18.8%[5] - Total revenue for the six months ended January 31, 2024, was HKD 510,350,000, a decrease of 3.4% from HKD 528,201,000 in the same period of 2023[13] - The operating loss for the six months ended January 31, 2024, was HKD 73,049,000, compared to a loss of HKD 63,811,000 in the prior year, indicating a worsening of 14.4%[19] - The company recorded a revenue of HKD 493.4 million for the six months ended January 31, 2024, a decrease of 3.9% compared to HKD 513.3 million in the same period last year[40] - Revenue from cinema operations fell by 28.2% year-on-year, primarily due to challenges such as overseas travel, poor economic conditions, and a shift in consumer behavior towards streaming platforms[40] - Revenue from film and television programs increased significantly by 71.6%, driven by higher income from television program licensing fees and sales commissions[41] - The company reported a net loss attributable to shareholders of HKD 105.8 million for the six months ended January 31, 2024, compared to a net loss of HKD 82.4 million in the previous year[41] Assets and Liabilities - The company's total assets decreased to HKD 2,668,094,000 from HKD 2,510,989,000, indicating a decline of 5.9%[7] - Current liabilities increased to HKD 924,097,000 from HKD 880,332,000, reflecting a rise of 5.0%[8] - The company's cash and cash equivalents decreased significantly to HKD 441,125,000 from HKD 651,012,000, a decline of 32.2%[7] - The company’s non-current assets decreased to HKD 1,063,019,000 from HKD 1,131,595,000, a reduction of 6.0%[7] - The company’s equity attributable to owners decreased to HKD 529,509,000 from HKD 635,112,000, a decline of 16.6%[8] - The total assets as of January 31, 2024, amounted to HKD 2,328,094,000, down from HKD 2,510,989,000 as of July 31, 2023[14] - The total liabilities as of January 31, 2024, were HKD 1,858,113,000, a decrease from HKD 1,933,022,000 in the previous period[14] - As of January 31, 2024, the company's cash and bank deposits amounted to HKD 442.7 million, down from HKD 660.3 million as of July 31, 2023[51] - The company's debt ratio increased to approximately 44.6% as of January 31, 2024, compared to 36.7% as of July 31, 2023[51] - The group recorded accrued interest of HKD 123,400,000 on unsecured loans as of January 31, 2024[52] - The group's debt-to-equity ratio was approximately 44.6% as of January 31, 2024, with net assets attributable to owners amounting to HKD 529,500,000[53] Operational Highlights - The company opened two new cinemas in Tsim Sha Tsui and Kai Tak, which began operations in September 2023, enhancing its cinema network[35] - The company is investing in original quality film production focused on Chinese themes, with projects currently in production including "Kowloon Walled City: Siege" directed by Derek Yee[35] - A strategic alliance was formed with Alibaba's Youku and Alibaba Pictures Group for joint production and investment in films and TV series, expanding the company's production capabilities[37] - Recent concerts, including "Leon Lai Concert 2023" and "Chan Kin On Live after Life 2024," received positive feedback, indicating strong audience engagement[37] - The company aims to leverage its comprehensive media platform across film, TV, music, artist management, and live performances to capture entertainment market opportunities and maximize shareholder value[37] - The media and entertainment segment recorded a revenue of HKD 179.3 million, a slight increase from HKD 176 million in the previous year, with segment profit rising from HKD 17.9 million to HKD 25.5 million[46] - The company produced and released a total of 26 films during the review period, compared to 17 films in the previous year[50] - The company plans to continue expanding its artist management team to support the growing television and film production business, currently managing 22 artists[49] - The group employed approximately 510 staff as of January 31, 2024, a decrease from 530 staff in the previous year[57] Governance and Compliance - The group has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange during the reporting period[56] - Management actively engages with investors to provide updates on operations, financial performance, and outlook[58] - The audit committee reviewed the unaudited interim results for the six months ended January 31, 2024[59] Other Financial Information - The financing costs for the six months ended January 31, 2024, were HKD 22,846,000, down from HKD 25,629,000 in the same period of 2023, reflecting a reduction of 10.9%[25] - The company recognized a government grant of HKD 2,677,000, down from HKD 4,472,000 in the previous year, indicating a reduction of 40.2%[23] - Total expenses for the six months ended January 31, 2024, were HKD 794,000, compared to HKD 924,000 for the same period in 2023, representing a decrease of approximately 14.1%[27] - The basic loss per share for the six months ended January 31, 2024, was calculated based on a weighted average of 1,755,876,866 shares, compared to 1,491,854,598 shares for the same period in 2023[28] - No interim dividend was recommended for the six months ended January 31, 2024, consistent with the previous period[29] - Trade receivables as of January 31, 2024, totaled HKD 98,666,000, down from HKD 135,706,000 as of July 31, 2023, indicating a decrease of approximately 27.3%[30] - Trade payables as of January 31, 2024, amounted to HKD 516,403,000, a slight decrease from HKD 529,100,000 as of July 31, 2023[32] - There were no significant changes in contingent liabilities since July 31, 2023[54] - The group did not purchase, sell, or redeem any listed securities during the six months ended January 31, 2024[55] - The group believes it has sufficient liquidity to meet current business needs and ongoing projects[53]
丰德丽控股(00571) - 2024 - 中期业绩