Financial Performance - The company reported an unaudited consolidated loss after tax of HKD 34,919,000 for the six months ended December 31, 2024, compared to a profit of HKD 312,900,000 for the same period in 2023[3]. - The total revenue for the six months ended December 31, 2024, was HKD 77,685,000, a decrease from HKD 78,471,000 in the previous year[24]. - The group reported a profit before tax of HKD 39,832,000, compared to HKD 18,009,000 in the same period last year, indicating a significant increase of 121%[43]. - The loss attributable to equity holders was HKD 49,518,000 in 2024, compared to a profit of HKD 312,911,000 in 2023[96]. - Basic and diluted loss per share for the six months ended December 31, 2024, was HKD (0.076) compared to earnings of HKD 0.479 per share in 2023[59]. Revenue Breakdown - Revenue from property sales was HKD 61,798,000, an increase of 1.5% compared to HKD 60,902,000 in the previous year[47]. - Revenue from property leasing decreased to HKD 15,887,000, down 6.5% from HKD 16,993,000 in the prior year[47]. - Total other income for the six months ended December 31, 2024, was HKD 14,839,000, up from HKD 10,654,000 in 2023, marking an increase of around 39%[51]. Dividends - The board declared an interim dividend of HKD 0.0225 per share, unchanged from the interim dividend in 2023[4]. - The company declared a final dividend of HKD 26,107,000 for the year, compared to HKD 19,580,000 in the previous year, representing an increase of approximately 33.0%[31]. - The company declared a final dividend of HKD 0.04 per share for the six months ended December 31, 2024, compared to HKD 0.03 per share in 2023, representing an increase of 33.3%[58]. Assets and Liabilities - Total assets less current liabilities increased to HKD 8,249,853,000 as of December 31, 2024, compared to HKD 7,598,268,000 in June 2024, reflecting a growth of approximately 8.6%[28]. - The company reported a total equity of HKD 6,838,932,000 as of December 31, 2024, down from HKD 6,892,596,000 in June 2024, indicating a decrease of about 0.8%[28]. - The company’s total liabilities increased to HKD 1,410,921,000 as of December 31, 2024, from HKD 1,963,422,000 in June 2024, reflecting a decrease of approximately 28.1%[28]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended December 31, 2024, was a negative HKD 27,467,000, a significant decline from HKD 338,354,000 in the same period of 2023[30]. - The company incurred a financing cash outflow of HKD 218,356,000 for the six months ended December 31, 2024, compared to an inflow of HKD 10,196,000 in the same period of 2023[30]. - The group’s net debt to equity ratio was reported at 7.7% as of December 31, 2024, compared to 6.9% as of June 30, 2024[103]. Market and Occupancy - The rental rate for Zhao Garden Phase 2 in Pok Fu Lam is maintained at 60%, while Zhao Garden Phase 3 has an occupancy rate of 75%, contributing positively to rental income[7][9]. - The occupancy rate for the first phase of Parkview in Kuala Lumpur has increased to 80%, with ongoing renovations to further enhance occupancy[16]. - The service apartment occupancy rate for the Parkview project in Malaysia increased to 80%, with ongoing renovations planned to further enhance occupancy[127]. Investments - The investment in bonds has a market value of HKD 51,211,000, while the market value of equity investments is HKD 60,798,000 as of December 31, 2024[18]. - The fair value loss recognized for investment properties was HKD 22,242,000, an improvement from a loss of HKD 41,366,000 in the previous year[62]. - The company confirmed cumulative impairment losses of HKD 37,564,000 as of December 31, 2024, due to a bond issuer defaulting on interest payments[65]. Financial Costs - The company reported a significant increase in financial costs, amounting to HKD 30,317,000, compared to HKD 12,351,000 in the previous year[24]. - Interest expenses for the 2024 period were HKD 30,317,000, a significant increase of 145.5% compared to HKD 12,351,000 in 2023, primarily due to rising bank loan interest rates[105]. Other Information - The group has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on the financial performance for the current period[38]. - The group continues to evaluate the impact of new accounting standards that have been issued but are not yet effective[39]. - The company has adopted a standard code for securities trading by directors and related employees, complying with the standards set out in the listing rules[136].
卓能(集团)(00131) - 2025 - 中期财报