时代环球集团二零二三年中期报告

Corporate Information BOARD OF DIRECTORSExecutive directors Mr. Choi Yun Chor(Chairman)Mr. Chen JianMr. Tai Kwok Keung KennyMs. Hung Wang Kai Grace Independent non-executive directors Ms. Lai Cheuk Yu CherrieMr. Huang Xiang YangMr. Ngok Ho Wai AUDIT COMMITTEE Mr. Ngok Ho WaiMr. Huang Xiang YangMs. Lai Cheuk Yu Cherrie REMUNERATION COMMITTEE Mr. Huang Xiang YangMs. Lai Cheuk Yu CherrieMr. Ngok Ho Wai NOMINATION COMMITTEE Ms. Lai Cheuk Yu CherrieMr. Huang Xiang YangMr. Ngok Ho Wai COMPANY SECRETARY Mr. Wong Chi Kong Corporate Information AUTHORISED REPRESENTATIVES Mr. Choi Yun ChorMr. Wong Chi Kong REGISTERED OFFICE AND PRINCIPALPLACE OF BUSINESS 78303002 Unit 3002, 30/F,Workington Tower,78 Bonham Strand East,Sheung Wan, Hong Kong AUDITORS 88 Asian Alliance (HK) CPA LimitedCertified Public AccountantsRegistered Public Interest Entity Auditors8/F., Catic Plaza8 Causeway RoadCauseway BayHong Kong SHARE REGISTRAR AND TRANSFEROFFICE 1617 Tricor Standard Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong STOCK CODE 2310 The Stock Exchange of Hong Kong Limited: 2310 COMPANY WEBSITEwww.timesuniversal.com www.timesuniversal.com Financial Highlights Six months ended 30 June Financial Highlights Six months ended 30 June Management Discussion and Analysis FINANCIAL REVIEW 45,100,000900,0002.0%46,000,0002,100,000 The revenue of the Group represents the revenue fromoperation of a resort in Canada (the “Hotel Operation”),properties management in the PRC (the “PropertiesManagement”) and the management of kitchen for, andmanagement of delivering quality ingredients to, PRCcustomers (the “Catering Management”). Revenueincreased by approximately HK$0.9 million or 2.0% fromapproximately HK$45.1 million for the six months ended 30June 2022 (“1H2022”) to approximately HK$46.0 millionfor the six months ended 30 June 2023 (“1H2023”). Suchincrease was mainly due to the revenue from the newsegment, the Catering Management, of approximatelyHK$2.1 million, and partly offset by the slight decrease inrevenue from both Hotel Operation and PropertiesManagement due to the depreciation of Canadian dollarand Chinese Yuan against Hong Kong dollars. 10,000,000900,0009.0%10,900,000 The gross profit of the Group increased by approximatelyHK$0.9 million or 9.0% from approximately HK$10.0million for 1H2022 to approximately HK$10.9 million for1H2023. Such increase was mainly due to the increase ingross profit from the Hotel Operation as a result of bettercontrol on direct costs, and partly offset by the decrease ingross profit from the Properties Management as a result ofthe increasing cost of supply and direct labour costs. 1 4 , 7 0 0 , 0 0 01,200,0008.2%15,900,000 The administrative expenses of the Group increased byapproximately HK$1.2 million or 8.2% from approximatelyHK$14.7 million for 1H2022 to approximately HK$15.9million for 1H2023. 8,500,0003,700,000 As a result, the loss for the period of the Group fromcontinuing operations decreased from approximatelyHK$8.5 million for 1H2022 to approximately HK$3.7million for 1H2023. Management Discussion and Analysis Liquidity and Financial Resources 103,200,0002,800,000106,000,0000.220.14 As at 30 June 2023, the net current liabilities of the Groupincreased by approximately HK$2.8 million fromapproximately HK$103.2 million as at 31 December 2022to approximately HK$106.0 million as at 30 June 2023.T h e c u r r e n t r a t i o o f t h e G r o u p d e c r e a s e d f r o mapproximately 0.22 times as at 31 December 2022 toapproximately 0.14 times as at 30 June 2023. 8,600,00019,700,000 As at 30 June 2023, the bank balances and cashamounted to approximately HK$8.6 million (31 December2022: approximately HK$19.7 million). Trade receivables 1,500,0004,500,0002,800,000 The net trade receivables of the Group amounted toapproximately HK$1.5 million as at 30 June 2023, ascompared to approximately HK$4.5 million as at 31December 2021. As at 31 August 2023, being the latestpracticable date for ascertaining subsequent settlement oftrade receivables of the Group as at 30 June 2022,approximately HK$2.8 million was settled. As at 30 June 2023, the Group’s trade receivablesamounted to approximately HK$20.5 million and theallowance for credit losses amounted to approximatelyHK$19.0 million, representing approximately 92.7% of thetrade receivables. The Group considered that the lossallowance was adequate due to (i) the credit loss allowancewas made based on the experiences of the management ofthe Group and past default rate of customers; (ii) for tradereceivables which is overdue for more than 365 days, theGroup has adopted expected loss rate of approximately96.76%. 20,500,00019,000,00092.7%(i)(ii)36596.76% Management Discussion and Analysis (i)(ii) For all the outstanding trade receivables, including thosefully written off and fully impaired, the Group hasperformed the following procedures, including but notlimited to, (i) visiting the customers physi