Financial Performance - The group reported a net loss of approximately HKD 218.4 million for the six months ended March 31, 2024, compared to a net profit of HKD 17.3 million in the same period last year[8]. - The company reported a basic loss attributable to owners of approximately HKD 218,444,000 for the six months ended March 31, 2024, compared to a profit of HKD 17,296,000 for the same period in 2023[80]. - Total comprehensive loss for the period was HKD 217,444,000, compared to a profit of HKD 22,505,000 in the previous year[98]. - The group incurred a loss before tax of HKD 214,127,000 for the six months ended March 31, 2024, compared to a loss of HKD 193,316,000 for the same period in 2023[149]. - The company reported a basic loss per share of HKD (1.98), compared to earnings of HKD 0.16 per share in the same period last year[98]. Revenue and Income - Revenue for the six months ended March 31, 2024, was HKD 83,355,000, an increase of 6.5% compared to HKD 78,071,000 for the same period in 2023[97]. - The sales revenue of the subsidiary, Elephant Holdings, increased significantly by 34% year-on-year, attributed to the recovery of economic activities post-COVID-19[22]. - The total income from rental was HKD 53,698,000, slightly down from HKD 53,782,000 in the previous year[126]. - Other income and gains decreased to HKD 10,440,000, down 13.0% from HKD 11,997,000 year-on-year[97]. - The company’s other income included HKD 4,202,000 in dividend income, an increase from HKD 3,468,000 in the previous year[126]. Investment Activities - The group has invested HKD 34.9 million in the TKO Fund, with an investment valuation of HKD 41.1 million as of March 31, 2024[3]. - The group has also invested USD 7.5 million in the Adams Street Private Income Fund LP, with an investment valuation of USD 6.2 million as of March 31, 2024[4]. - The group has committed USD 2 million to the Hundreds SH Fund LP, with an investment valuation of USD 600,000 as of March 31, 2024[27]. - The company invested approximately HKD 3,046,000 in investment properties and HKD 1,562,000 in property, plant, and equipment during the period[159]. Property and Rental Performance - Rental income from residential properties increased by 2.3% year-on-year, while overall rental income from investment properties in Hong Kong decreased by 4.2%[2][21]. - The overall rental income for Hong Kong office properties decreased by 7.5% in 2023 due to weak demand and oversupply[33]. - Rental income from residential units in Beijing's Chaoyang District decreased by 5.2% compared to the same period last year[29]. - The residential leasing market in Hong Kong is gradually recovering, with increased inquiry numbers and occupancy rates[49]. - The group maintains a high occupancy rate of over 90% for its office buildings despite slight revenue declines[33]. Financial Position and Debt - The total debt of the group was HKD 396.3 million as of March 31, 2024, compared to HKD 384.4 million on September 30, 2023[37]. - The group's shareholders' equity was HKD 4.995 billion as of March 31, 2024, down from HKD 5.125 billion on September 30, 2023[36]. - The debt-to-equity ratio as of March 31, 2024, is 7.9%, up from 7.3% on September 30, 2023[55]. - The group has unutilized bank credit facilities of approximately HKD 1.286 billion as of March 31, 2024, sufficient to support operational and capital expenditure needs[54]. - The net current liabilities of the group were approximately HKD 282,600,000 as of March 31, 2024, with bank borrowings and overdrafts amounting to HKD 396,290,000[146]. Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended March 31, 2024, was HKD 36,798,000, a decrease of 18.5% compared to HKD 45,253,000 for the same period in 2023[75]. - Cash and cash equivalents decreased by HKD 16,522,000, ending at HKD 44,653,000 compared to HKD 38,538,000 in the previous year[75]. - The company’s cash flow from financing activities generated a net cash outflow of HKD 37,153,000, contrasting with a net inflow of HKD 2,074,000 in the previous year[75]. - The company’s cash balance at the beginning of the period was HKD 61,110,000, significantly higher than HKD 28,008,000 at the same time last year[75]. Dividends - The group announced an interim dividend of HKD 0.04 per share for the first six months of the fiscal year 2024, consistent with the previous year[11]. - The company paid dividends totaling HKD 37,461,000, consistent with the previous year's payment[83]. - The company declared a final dividend of HKD 0.34 per share, totaling HKD 37,461,000, consistent with the previous year’s dividend[180]. Employee and Operational Metrics - Employee compensation for the period amounted to approximately HKD 16.4 million, slightly down from HKD 16.7 million in the previous year[58]. - The group has a total of 119 employees as of March 31, 2024, an increase from 113 employees as of September 30, 2023[58]. - The group has engaged in a related transaction involving a construction contract worth HKD 4.688 million for renovation works on an industrial building[59].
博富临置业(00225) - 2024 - 中期业绩