Financial Performance - The company reported a net loss of HKD 218,450,000 for the six months ended March 31, 2024, compared to a profit of HKD 16,819,000 for the same period in 2023[114]. - The unaudited consolidated net loss after tax and non-controlling interests for the six months ended March 31, 2024, is approximately HKD 218.4 million, compared to a net profit of HKD 17.3 million for the same period in 2023[32]. - The company reported a decrease in total business and other receivables to HKD 10,150,000 from HKD 13,369,000[165]. - The company reported a pre-tax profit of HKD 7,415,000 from the impairment provision for receivables from joint ventures, slightly up from HKD 7,384,000 in the previous year[146]. - The company reported a net cash outflow from financing activities of HKD 37,153,000 for the six months ended March 31, 2024, contrasting with a net inflow of HKD 2,074,000 in the same period of the previous year[101]. Revenue and Income - For the six months ended March 31, 2024, the company's revenue was HKD 83,355,000, an increase of 6.5% compared to HKD 78,071,000 for the same period in 2023[114]. - Total revenue for the six months ended March 31, 2024, was HKD 83,355,000, an increase from HKD 78,071,000 in the same period last year, representing a growth of approximately 3.7%[143]. - The income from sales of goods increased to HKD 20,278,000 from HKD 15,124,000, marking a growth of approximately 34.3%[143]. - The rental income from residential properties increased by 2.3%, driven by demand from expatriates due to government talent programs[15]. - Rental income remained stable at HKD 53,698,000 compared to HKD 53,782,000 in the previous year, showing a slight decrease of 0.2%[143]. Investment and Assets - The company invested USD 7.5 million in the Adams Street Private Income Fund LP, with a valuation of USD 6.2 million as of March 31, 2024[18]. - The company has committed to invest USD 2 million in the Hundreds Fund, with an investment valuation of USD 600,000 as of March 31, 2024[40]. - The company has invested HKD 34.9 million in the TKO Fund, with an investment valuation of HKD 41.1 million as of March 31, 2024[37]. - The fair value of non-listed equity investments classified as financial assets at fair value through profit or loss is HKD 94,937,000 as of March 31, 2024[175]. - The group’s investment properties had a total book value of approximately HKD 4,769,500,000 as of March 31, 2024, compared to HKD 4,972,600,000 as of September 30, 2023[190]. Dividends and Shareholder Equity - The interim dividend declared is HKD 0.04 per share, consistent with the previous year[7]. - The final dividend for the fiscal year 2023 is HKD 0.34 per share, totaling HKD 37,461,000, unchanged from the previous year[150]. - As of March 31, 2024, shareholders' equity stood at HKD 4.995 billion, down from HKD 5.125 billion on September 30, 2023[25]. - As of March 31, 2024, the company's total equity attributable to owners decreased to HKD 4,995,355,000 from HKD 5,250,254,000 as of September 30, 2023, representing a decline of approximately 4.85%[96]. - The retained earnings as of March 31, 2024, stand at HKD 4,846,221,000, showing a decrease from the previous period[119]. Debt and Liabilities - As of March 31, 2024, the total debt of the group is HKD 396.3 million, an increase from HKD 384.4 million as of September 30, 2023[48][49]. - The debt-to-equity ratio as of March 31, 2024, was 7.9%, an increase from 7.3% as of September 30, 2023, based on total liabilities of HKD 396.3 million and equity attributable to shareholders of approximately HKD 4.995 billion[75]. - The company has bank borrowings and overdrafts totaling HKD 396,290,000 as of March 31, 2024, which are subject to repayment terms[116]. - The group’s total liabilities increased to HKD 4,224,500,000 as of March 31, 2024, compared to HKD 3,318,600,000 as of September 30, 2023[188]. - The group has a bank overdraft of HKD 9.5 million and bank term loans of HKD 194.3 million classified as current liabilities[73]. Market Outlook and Strategy - The company anticipates significant investment opportunities in disruptive digital technologies, particularly in AI and cloud sectors, in 2024[20]. - The group aims to maintain high occupancy rates through flexible leasing pricing, upgrade rental properties, and seek higher market returns to offset rising interest costs[45]. - The group maintains a cautious optimism regarding its mid to short-term outlook, anticipating growth in the residential leasing market due to increased demand from newcomers[45]. - The company is closely monitoring public markets for strategic exits to optimize investment returns from the TPP II fund[20]. Corporate Governance - The board of directors consists of a majority of independent non-executive directors, ensuring effective oversight of management[58]. - The group has complied with the relevant provisions under the Listing Rules regarding connected transactions during the reporting period[57]. - The independent non-executive directors do not have specific terms of appointment but are subject to re-election at the annual general meeting[59]. - The company has adopted the standard code for securities trading by directors, confirming compliance throughout the reporting period[60]. - The company has maintained compliance with all corporate governance codes, with the exception of certain provisions as noted in the interim report[81].
博富临置业(00225) - 2024 - 中期财报