金禧国际控股中期报告2023

C O N T E N T S Corporate Information2Management Discussion and Analysis4Condensed Consolidated Statement ofProfit or Loss15Condensed Consolidated Statement ofProfit or Loss and Other Comprehensive Income16Condensed Consolidated Statement ofFinancial Position17Condensed Consolidated Statement ofChanges in Equity19Condensed Consolidated Statement ofCash Flows21Notes to the Condensed ConsolidatedFinancial Statements23 CORPORATE INFORMATION DIRECTORS Executive DirectorsMr. Wong Man KeungMs. Lee Nga Ching 1 Independent Non-Executive DirectorsMr. Chan Kwan Hung1Mr. Lai Kin KeungMr. Siu Kin WaiMr. Wong Man Hung Patrick AUTHORISED REPRESENTATIVES Mr. Wong Man KeungMs. Lin Yih Yee Jessica COMPANY SECRETARYMs. Lin Yih Yee Jessica AUDIT COMMITTEEMr. Siu Kin Wai(Chairman)Mr. Lai Kin KeungMr. Wong Man Hung Patrick NOMINATION COMMITTEE Mr. Lai Kin Keung(Chairman)Mr. Siu Kin WaiMr. Wong Man Hung Patrick REMUNERATION COMMITTEE Mr. Wong Man Hung Patrick(Chairman)Mr. Lai Kin KeungMr. Siu Kin Wai PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedDBS Bank (Hong Kong) LimitedThe Bank of East Asia, LimitedChong Hing Bank Limited LEGAL ADVISERSCedric & Co.Beijing Dentons (Shenzhen) Law Office, LLP AUDITOR 181151501–8 | GOLDEN CENTURY INTERNATIONAL HOLDINGS GROUP LIMITEDConfucius International CPA LimitedCertified Public AccountantsRooms 1501–8, 15th FloorTai Yau Building181 Johnston RoadWanchai, Hong Kong 1 1Appointed as an independent non-executive director with effect from 7 July 2023 andresigned with effect from 11 August 2023. REGISTERED OFFICE 535Tower 5351212005 Room 12005, 12/FTower 535535 Jaffe RoadCauseway BayHong Kong 1617 SHARE REGISTRARTricor Standard Limited17th Floor, Far East Finance Centre16 Harcourt RoadHong Kong 91 STOCK CODE91 10,000 BOARD LOT10,000 COMPANY WEBSITEwww.gci.com.hk www.gci.com.hk MANAGEMENT DISCUSSION AND ANALYSIS The board of directors (the “Board” or “Director(s)”) of Golden CenturyInternational Holdings Group Limited (the “Company” or “Golden Century”)hereby presents the unaudited condensed consolidated interim results of theCompany and its subsidiaries (collectively, the “Group”) for the six monthsended 30 June 2023 (the “Period”). FINANCIAL REVIEW Revenue 78,450,0007,883,000895.18% The Group’s overall revenue for the Period was approximatelyHK$78,450,000 (2022 (restated): approximately HK$7,883,000), representingan increase by about 895.18% when compared with the corresponding periodlast year. The increase of revenue was mainly contributed by the generaltrading of plastic components. Gross Profit 351,0001,388,000 The Group recorded a gross profit of approximately HK$351,000 forthe Period, indicating a decrease when compared with approximatelyHK$1,388,000 (restated) in the corresponding period last year. The decreasewas due to the change in business segment combination during the Period. Other Income The decrease of other income was due to the lack of rental income fromsubletting business premises and subsidies from “Employment SupportScheme” of the Government of the Hong Kong Special Administrative Regionduring the Period. Other Gains and Losses 11,590,0007,137,0002,704,0007,503,000 There was a decrease in the other gains and losses as compared to that of thecorresponding period last year (restated). It decreased from approximatelyHK$11,590,000 to HK$7,137,000 during the Period. There was a loss ondisposal of property, plant and equipment of approximately HK$2,704,000during the Period, which was subsequently offset by the decrease in the netforeign exchange loss of approximately HK$7,503,000. Administrative Expenses 24,438,00032,437,00024.66% The administrative expenses amounted to approximately HK$24,438,000(2022 (restated): approximately HK$32,437,000), representing a decrease byabout 24.66% when compared with the corresponding period last year. Thedaily administrative and operational expenses could be reduced due to theadoption of effective control measures by the Group. Finance Costs There was a decrease in finance costs which was mainly due to the lack ofimputed interest on bonds and the reduction of imputed interest on leaseliabilities during the Period. Loss for the Period from Continuing OperationsThe loss amounting to approximately HK$32,476,000 (2022 (restated): lossof approximately HK$43,660,000) was recorded for the Period, representinga decrease by about 25.62% when compared with that of the correspondingperiod last year. The decrease was mainly attributable to the decrease in theadministrative expenses, and the other gains and losses. 32,476,00043,660,00025.62% LIQUIDITY AND FINANCIAL RESOURCES 16,335,00034,632,000203,228,000186,618,000107,460,000107,460,00063,138,00066,080,000 As at 30 June 2023, the Group’s cash and bank balances amounted toapproximately HK$16,335,000 (as at 31 December 2022: approximatelyHK$34,632,000), which were mainly denominated in Hong Kongdollars and Renminbi. The net current liabilities of the