Revenue Performance - For the six months ended June 30, 2023, total revenue decreased to HKD 79,501 thousand, down 78.8% from HKD 374,684 thousand in the same period of 2022[10] - Revenue from sales of supply chain products was HKD 14,937 thousand, a significant drop of 95.6% compared to HKD 338,876 thousand in the previous year[6] - Revenue from hotel management and catering services increased to HKD 53,424 thousand, up 121.9% from HKD 24,165 thousand in the prior year[6] - The group's total revenue for the six months ended June 30, 2023, was HKD 79,500,000, a decrease of 78.8% compared to HKD 374,700,000 for the same period in 2022[138] - The supply chain business generated revenue of HKD 16,800,000 for the six months ended June 30, 2023, down from HKD 342,500,000 in the previous year[138] - The hotel management and catering services segment reported revenue growth from HKD 28,400,000 to HKD 61,400,000 during the same period[139] Financial Losses - The company reported a loss before tax of HKD 72,026 thousand, compared to a profit of HKD 33,762 thousand in the same period last year[10] - The net loss attributable to equity shareholders for the period was HKD 74,104 thousand, compared to a profit of HKD 31,266 thousand in the previous year[10] - Total comprehensive loss for the period amounted to HKD 92,336 thousand, compared to a total comprehensive income of HKD 10,639 thousand in the same period of 2022[12] - The group reported a loss before tax of HKD 72,026,000 for the six months ended June 30, 2023, compared to a profit before tax of HKD 33,762,000 for the same period in 2022[23][24] - The group’s total comprehensive income for the six months ended June 30, 2023, was a loss of HKD 74,171,000, compared to a profit of HKD 31,266,000 for the same period in 2022[23][24] - The net loss for the six months ended June 30, 2023, was approximately HKD 74,200,000, compared to a net profit of HKD 31,300,000 for the same period in 2022[113] Asset and Liability Changes - Non-current assets decreased to HKD 432,914 thousand as of June 30, 2023, down from HKD 462,121 thousand at the end of 2022[13] - Current assets decreased to HKD 650,538 thousand, compared to HKD 865,686 thousand at the end of the previous year[13] - Total liabilities decreased to HKD 519,177 thousand from HKD 668,904 thousand at the end of 2022[14] - The company's equity attributable to equity shareholders decreased to HKD 476,651 thousand from HKD 568,923 thousand at the end of 2022[14] - As of June 30, 2023, total assets amounted to HKD 1,083,452,000, a decrease from HKD 1,327,807,000 as of December 31, 2022[50] - Total liabilities as of June 30, 2023, were HKD 603,305,000, down from HKD 758,884,000 as of December 31, 2022[50] - The company’s trade receivables at the end of the reporting period were HKD 452,708,000, a decrease from HKD 634,037,000 as of December 31, 2022[65] - The company had bank loans secured amounting to HKD 362,426,000 as of June 30, 2023, compared to HKD 435,996,000 as of December 31, 2022[70] - The company’s trade payables were HKD 76,117,000 as of June 30, 2023, compared to HKD 152,386,000 as of December 31, 2022[68] - The company’s supply chain business reported segment assets of HKD 533,520,000 as of June 30, 2023, down from HKD 746,028,000 as of December 31, 2022[50] - The company’s deferred tax assets and liabilities were HKD 4,782,000 and HKD 36,298,000 respectively as of June 30, 2023[50] Operational Efficiency and Cost Management - The company focused on enhancing procurement cost control and optimizing operational efficiency in its hotel management and catering services segment[108] - The group continues to focus on operational efficiency and customer experience to drive growth in the competitive hotel management and catering services industry[136] - The company implemented stricter credit risk control measures, leading to a reduction in sales orders and delayed payments from several customers[78] - Direct costs and operating expenses decreased significantly from HKD 327,600,000 to HKD 67,500,000 for the six months ended June 30, 2023[112] - Financial costs reduced from HKD 17,200,000 to HKD 12,500,000 due to loan repayments during the same period[113] Employee and Corporate Structure - As of June 30, 2023, the group had approximately 310 employees, a decrease from about 400 employees as of June 30, 2022[155] - The group has provided corporate guarantees for financing to several subsidiaries, with a guarantee amount of HKD 300,900,000 as of June 30, 2023, down from HKD 314,700,000 as of December 31, 2022[165] Dividends and Shareholder Returns - The group did not declare any interim dividend for the six months ended June 30, 2023, consistent with the previous year[31] - The board does not recommend any interim dividend for the six months ended June 30, 2023, consistent with zero dividend for the same period in 2022[169] Credit Loss Provisions - The group recorded an increase in expected credit loss provisions from HKD 1,800,000 to HKD 49,400,000 due to delayed payments from certain customers in the supply chain business[141] - The group's trade receivables (net of expected credit loss provisions) were HKD 442,100,000 as of June 30, 2023, down from HKD 624,200,000 as of December 31, 2022[144] - The company recorded an impairment loss of HKD 49,360,000 for trade receivables and other receivables during the six months ended June 30, 2023[93]
百德国际(02668) - 2023 - 中期业绩