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中国金融投资管理(00605) - 2022 - 中期财报
C FIN SERVICESC FIN SERVICES(HK:00605)2023-01-19 10:40

Financial Performance - Interest and service income for the six months ended June 30, 2021, was approximately HKD 158,976,000, a decrease of 59.8% compared to HKD 395,657,000 for the same period in 2020[5] - The loss attributable to equity shareholders for the period was approximately HKD 100,636,000, a reduction of 57.4% from HKD 236,362,000 in the previous year[14] - Basic loss per share improved to HKD (0.50) from HKD (1.14), reflecting a decrease of 56.1%[5] - For the six months ended June 30, 2021, the company reported a net loss of HKD 98,890,000, a significant improvement from a net loss of HKD 380,968,000 in the same period of 2020, representing a reduction of approximately 74%[25] - The total comprehensive income for the six months ended June 30, 2021, was a loss of HKD 88,097,000, compared to a loss of HKD 281,218,000 for the same period in 2020, indicating an improvement of 68.7%[30] - The company reported a total comprehensive loss of HKD 5,626 thousand for the six months ended June 30, 2021, compared to a total comprehensive income of HKD 33,643 thousand in 2020[49] Asset and Liability Management - The company's total assets decreased to HKD 2,769,172,000 as of June 30, 2021, compared to HKD 2,925,184,000 at the end of 2020, a decline of about 5.3%[27] - The company's total equity decreased to HKD 1,140,635,000 from HKD 1,229,192,000, a decline of about 7.2%[28] - The total amount of loans payable as of June 30, 2021, was HKD 1,690,981,000, a decrease of 7.4% from HKD 1,825,951,000 as of December 31, 2020[70] - The total amount of unsecured bonds as of June 30, 2021, was HKD 266,357,000, a decrease of 11% from HKD 299,221,000 as of December 31, 2020[75] - The total receivables as of June 30, 2021, amounted to HKD 3,711,998,000, a decrease from HKD 4,019,345,000 at the end of 2020, with a provision for impairment of HKD 1,482,430,000[63] Operational Efficiency - The group tightened risk management and adopted a conservative approach to new loan approvals due to uncertainties in the real estate market[11] - The group is focusing on enhancing net credit risk management and conducting stress tests on repayment capacity and loan-to-value ratios to improve resilience against risks[9] - The group has launched a 100% online loan application platform, Oyster Pie, in Hong Kong to enhance user experience and significantly improve efficiency and productivity[8] Cash Flow and Financing Activities - The company reported a net cash generated from operating activities of HKD 387,740,000 for the six months ended June 30, 2021, a decrease of 41.3% compared to HKD 661,549,000 in the same period of 2020[32] - The company reported a net cash used in financing activities of HKD 271,184,000 for the six months ended June 30, 2021, a decrease of 52.4% from HKD 569,034,000 in the same period of 2020[32] - The company’s operating cash flow after tax payments was HKD 354,370,000 for the six months ended June 30, 2021, compared to HKD 594,941,000 in the same period of 2020, reflecting a decline of 40.5%[32] Employee and Management Information - The group employed approximately 167 staff in China and Hong Kong, with total employee costs around HKD 40,361,000 during the reporting period[18] - Total remuneration for key management personnel for the six months ended June 30, 2021, was 3,701 thousand HKD, a decrease of 7.2% from 3,986 thousand HKD in the previous year[82] Governance and Compliance - The company has complied with the corporate governance code, except for specific provisions regarding the division of responsibilities between the chairman and the CEO[107] - The audit committee consists of one non-executive director and four independent non-executive directors, overseeing the internal control system and reporting significant issues to the board[113] - The committee reviewed the financial statements and reports before submission to the board, considering any significant or unusual items raised by the financial director or external auditors[113] Shareholder Information - The company did not recommend any interim dividend for the reporting period, consistent with 2020[57] - As of June 30, 2021, Zhang Xiaolin holds 115,664,312 shares, representing 55.27% of the issued share capital[94] - Lu Yun, as the spouse of Zhang Xiaolin, is deemed to hold 86,002,212 shares, also representing 55.27% of the issued share capital[98]