2021 Interim Report 1
INTERIM FINANCIAL STATEMENTS
The board of directors of China Ecotourism Group Limited (the "Company") (the "Board" or "Directors") hereby presents the unaudited condensed consolidated financial statements of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2021, together with the comparative unaudited figures for the corresponding periods in 2020, as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
Unaudited | |||||
Six months ended 30 June | |||||
2021 | 2020 | ||||
Notes | HK$'000 | HK$'000 | |||
Revenue | 2 | 40,818 | 45,078 | ||
Costs of sales and services | 3 | (20,938) | (32,396) | ||
Gross profit | 19,880 | 12,682 | |||
Other income | 4 | 17,369 | 1,761 | ||
Other (losses)/gains - net | 5 | (4,060) | 2,953 | ||
General and administrative expenses | (89,571) | (68,033) | |||
Operating loss | 6 | (56,382) | (50,637) | ||
Finance costs | 7 | (25,265) | (25,482) | ||
Share of loss of a joint venture | - | (263) | |||
Loss before income tax | (81,647) | (76,382) | |||
Income tax credit | 8 | 2,704 | 1,186 | ||
Loss for the period | (78,943) | (75,196) | |||
Loss attributable to: | |||||
(68,538) | |||||
Owners of the Company | (70,442) | ||||
Non-controlling interests | (10,405) | (4,754) | |||
(78,943) | (75,196) | ||||
Loss per share attributable to owners | |||||
of the Company for the period | 9 | (5.40) HK Cent | |||
- basic | (6.84) HK Cent | ||||
- diluted | 9 | (5.40) HK Cent | (6.84) HK Cent | ||
2 China Ecotourism Group Limited
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Unaudited | |||||
Six months ended 30 June | |||||
2021 | 2020 | ||||
HK$'000 | HK$'000 | ||||
Loss for the period | (78,943) | (75,196) | |||
Other comprehensive expense for the period: | |||||
Items that may be reclassified to profit or loss | (293) | ||||
Currency translation differences | 1,432 | ||||
Total comprehensive expense for the period | (79,236) | (73,764) | |||
Attributable to: | |||||
(68,538) | |||||
Owners of the Company | (70,442) | ||||
Non-controlling interests | (10,698) | (3,322) | |||
Total comprehensive expense | |||||
for the period | (79,236) | (73,764) | |||
2021 Interim Report 3
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unaudited | Audited | |||||
As at | As at | |||||
30 June | 31 December | |||||
2021 | 2020 | |||||
Notes | HK$'000 | HK$'000 | ||||
Non-current assets | 43,224 | |||||
Property, plant and equipment | 50,138 | |||||
Right-of-use assets | 325,518 | 342,130 | ||||
Intangible assets | 60,211 | 63,292 | ||||
Interests in associates | 189 | 189 | ||||
Financial assets at fair value through | 4,900 | |||||
profit or loss | 6,769 | |||||
434,042 | 462,518 | |||||
Current assets | ||||||
39,106 | ||||||
Inventories | 9,694 | |||||
Accounts receivable | 10 | 10,393 | 70,705 | |||
Prepayments, deposits and | 170,345 | |||||
other receivables | 128,123 | |||||
Cash and bank balances | 129,431 | 76,430 | ||||
349,275 | 284,952 | |||||
Total assets | 783,317 | 747,470 | ||||
Current liabilities | ||||||
11 | 26,379 | |||||
Accounts payable | 4,399 | |||||
Accruals and other payables | 35,488 | 38,872 | ||||
Contract liabilities | 31,285 | 31,285 | ||||
Amount due to a joint venture | 6,754 | 6,766 | ||||
Amount due to a shareholder | - | 56,880 | ||||
Amounts due to directors | 18,512 | 19,703 | ||||
Tax payable | 4,155 | 8,100 | ||||
Bank borrowings | 169,000 | 212,793 | ||||
Lease liabilities | 4,131 | 10,920 | ||||
Convertible bonds | 12 | 152,586 | 137,205 | |||
448,290 | 526,923 | |||||
Net current liabilities | (99,015) | (241,971) | ||||
Total assets less current liabilities | 335,027 | 220,547 | ||||
4 China Ecotourism Group Limited
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(CONT'D)
Unaudited | Audited | |||||
As at | As at | |||||
30 June | 31 December | |||||
2021 | 2020 | |||||
Notes | HK$'000 | HK$'000 | ||||
Non-current liabilities | 39,831 | |||||
Deferred income tax liabilities | 39,993 | |||||
Lease liabilities | 1,286 | 12,256 | ||||
41,117 | 52,249 | |||||
Net assets | 293,910 | 168,298 | ||||
Equity attributable to owners | ||||||
of the Company | 13 | 77,211 | ||||
Share capital | 25,737 | |||||
Reserves | 14 | 1,772,406 | 1,622,090 | |||
Accumulated losses | (1,804,365) | (1,738,885) | ||||
45,252 | (91,058) | |||||
Non-controlling interests | 248,658 | 259,356 | ||||
Total equity | 293,910 | 168,298 | ||||
This is an excerpt of the original content. To continue reading it, access the original document here.