Financial Performance - For the six months ended June 30, 2022, the group recorded unaudited revenue of approximately HKD 6.1 million, an increase of about HKD 1.0 million or 19.6% compared to HKD 5.1 million for the same period in 2021[5] - The group reported an unaudited loss attributable to owners of the company of approximately HKD 6.4 million for the six months ended June 30, 2022, an improvement from a loss of HKD 8.8 million for the same period in 2021[5] - Basic and diluted loss per share for the six months ended June 30, 2022, was HKD 0.53, compared to HKD 0.74 for the same period in 2021[5] - The group reported a total loss before tax of HKD 6,327,000 for the six months ended June 30, 2022, compared to a loss of HKD 8,849,000 for the same period in 2021, representing a reduction in loss of 28.5%[36] - The company reported a net loss of HKD 8,849,000 for the six months ended June 30, 2022, compared to a loss of HKD 26,068,000 for the same period in 2021[19] - Total comprehensive loss for the period was HKD 8,792,000, reflecting a significant decrease from the previous year's loss[19] - For the six months ended June 30, 2022, the loss attributable to shareholders was HKD 6,327,000, a 29% decrease from HKD 8,849,000 in the same period of 2021[46] Revenue Breakdown - Revenue for the travel business for the six months ended June 30, 2022, was HKD 4,354,000, an increase of 13.9% compared to HKD 3,821,000 for the same period in 2021[31] - Revenue for the car rental service for the six months ended June 30, 2022, was HKD 1,769,000, an increase of 38.1% compared to HKD 1,282,000 for the same period in 2021[31] - Total revenue for the group for the six months ended June 30, 2022, was HKD 6,123,000, an increase of 19.8% compared to HKD 5,103,000 for the same period in 2021[31] Assets and Liabilities - Total assets less current liabilities as of June 30, 2022, amounted to HKD 46.5 million, a decrease from HKD 54.9 million as of December 31, 2021[10] - The group's non-current assets decreased to HKD 11.7 million as of June 30, 2022, from HKD 14.7 million as of December 31, 2021[10] - Current liabilities increased to HKD 10.5 million as of June 30, 2022, from HKD 9.4 million as of December 31, 2021[10] - The group's cash and cash equivalents decreased to HKD 4.4 million as of June 30, 2022, from HKD 8.9 million as of December 31, 2021[10] - The total equity attributable to owners of the company decreased to HKD 41.9 million as of June 30, 2022, from HKD 48.3 million as of December 31, 2021[10] - The company’s total equity as of June 30, 2022, was HKD 41,901,000, a decrease from HKD 64,114,000 as of June 30, 2021[19] Cash Flow and Financing - Cash and cash equivalents decreased by HKD 4,446,000, ending the period at HKD 4,361,000, compared to HKD 15,622,000 at the end of the same period last year[19] - The net cash used in operating activities was HKD 4,529,000, an improvement from HKD 26,068,000 in the prior year[19] - The company recorded cash inflows from investing activities of HKD 2,101,000, down from HKD 19,983,000 in the previous year[19] - The company’s financing activities resulted in a net cash outflow of HKD 2,018,000, compared to HKD 2,511,000 in the previous year[19] - The total borrowings and lease liabilities as of June 30, 2022, were approximately HKD 8.4 million, down from HKD 10.3 million as of December 31, 2021[100] Operational Highlights - The company plans to strategically seek partnerships with more hotel operators and travel agencies in Macau to expand its market share and enhance revenue from hotel room sales and car rental services[70] - The company aims to expand its tourism business into China and explore other opportunities to diversify its revenue sources beyond hotel room sales and vehicle rentals[70] - The company has entered into a cooperation agreement with a concert promoter to organize and sponsor eight concerts in China, which have been delayed to the second half of 2022 due to strict pandemic measures[72] - The company continues to monitor the risks associated with travel restrictions and the impact of COVID-19 on its business operations[69] - The company purchased 12 new vehicles to provide point-to-point cross-border transport services in Macau, adjusting the fleet expansion plan based on market demand[86] Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring transparency and accountability to protect shareholders' interests[112] - Following Mr. Cai's resignation on August 3, 2022, Ms. Zou Shu Er was appointed as both the Chairperson and CEO, continuing the deviation from the corporate governance code[115] - The audit committee was established in accordance with GEM Listing Rule 5.28, consisting of three independent non-executive directors[127] - All directors confirmed compliance with the trading standards as per GEM Listing Rules during the six months ending June 30, 2022[125] - The company maintains a strong leadership structure with independent non-executive directors to ensure a balance of power and authority[115] Other Financial Information - The company recorded a gross loss of approximately HKD 0.3 million for the six months ended June 30, 2022, compared to a gross profit of approximately HKD 1.5 million for the same period in 2021[75] - Administrative expenses decreased by approximately 36.9%, from about HKD 11.1 million for the six months ended June 30, 2021, to approximately HKD 7.0 million for the six months ended June 30, 2022, due to reductions in advertising, depreciation, and related expenses[78] - The income tax expense for the six months ended June 30, 2022, was approximately HKD 2,000, compared to no income tax expense for the same period in 2021[79] - The company has not disclosed any new product or technology developments, market expansions, or acquisitions during the reporting period[124]
瀛海集团(08668) - 2022 - 中期财报