Hopefluent : Interim Report 2022 (Eng)

The board of directors (the "Directors") of Hopefluent Group Holdings Limited (the "Company") is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (collectively referred to as the "Group") for the six months ended 30 June 2022, together with comparative figures for the corresponding period in 2021 as follows:

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 June 2022

		Six months ended 30 June
		2022	2021
		HK$'000	HK$'000
	Notes	(unaudited)	(unaudited)
			(restated)
Revenue	4	2,973,645	3,931,313
Other income		13,826	23,481
Selling expenses		(3,049,435)	(3,413,986)
Administrative expenses		(328,760)	(455,102)
Loss allowance on financial assets		(19,918)	(2,671)
Share of results of associates and a joint venture		2,155	3,966
Impairment of goodwill	11	(206,040)	-
Finance costs	5	(27,123)	(29,890)
(Loss)/profit before tax		(641,650)	57,111
Income tax expense	6	(22,225)	(15,173)
(Loss)/profit for the period	7	(663,875)	41,938

Other comprehensive (expense)/income

	for the period
Items that may be reclassified to profit or loss:
Exchange differences arising on translation to
	presentation currency	(150,215)	21,665
Total comprehensive (expense)/income
	for the period	(814,090)	63,603

Hopefluent Group Holdings Limited

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CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (Cont'd)

For the six months ended 30 June 2022

		Six months ended 30 June
		2022	2021
		HK$'000	HK$'000
	Notes	(unaudited)	(unaudited)
(Loss)/profit for the period attributable to:
- Owners of the Company		(487,174)	32,799
- Non-controlling interests		(176,701)	9,139
		(663,875)	41,938
Total comprehensive (expense)/income for
the period attributable to:
- Owners of the Company		(598,751)	45,690
- Non-controlling interests		(215,339)	17,913
		(814,090)	63,603
Dividends	8	-	3,371
(Loss)/earnings per share	9
- Basic and diluted		HK(72.26) cents	HK4.87 cents

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CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 30 June 2022

		30 June	31 December
		2022		2021
		HK$'000	HK$'000
	Notes	(unaudited)	(audited)
NON-CURRENT ASSETS		115,925
Investment properties		138,836
Property, plant, equipment	10	252,216	324,976
Right-of-use assets	10	128,338	270,524
Goodwill	11	12,564	218,604
Interests in associates and a joint venture		4,053	40,882
Loan receivables		159,546	84,916
Other receivables and deposits		7,141	18,157
Deferred tax assets		114,536	155,704
		794,319	1,252,599
CURRENT ASSETS		782,417
Accounts receivable	12	1,204,202
Loan receivables		495,647	560,408
Security deposits		39,311	1,424,063
Other receivables, deposits and prepayments		683,775	787,010
Amount due from a joint venture		16,285	23,499
Financial assets at fair value through		8,760
profit or loss ("FVTPL")	13	10,425
Pledged bank deposits		10,526	10,976
Bank balances and cash		486,403	1,720,919
		2,523,124	5,741,502
A disposal group classified as held for sale	16	2,784,011		-
		5,307,135	5,741,502
CURRENT LIABILITIES		289,538
Payables and accruals	14	1,123,693
Contract liabilities		26,199	837,505
Lease liabilities		23,822	91,243
Tax liabilities		96,423	87,994
Amount due to an associate		4,678		4,900
Bank and other borrowings		179,146	326,747
		619,806	2,472,082
Liabilities associated with a disposal group		1,834,244
classified as held for sale	16		-
		2,454,050	2,472,082
NET CURRENT ASSETS		2,853,085	3,269,420
TOTAL ASSETS LESS CURRENT LIABILITIES		3,647,404	4,522,019
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	Hopefluent Group Holdings Limited

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Cont'd)

At 30 June 2022

		30 June	31 December
		2022	2021
		HK$'000	HK$'000
	Notes	(unaudited)	(audited)
NON-CURRENT LIABILITIES
Lease liabilities		84,928	158,015
Deferred tax liabilities		61,750	62,206
Bank and other borrowings		202,339	189,321
		349,017	409,542
CAPITAL AND RESERVES
Share capital	15	6,741	6,741
Share premium and reserves		2,341,181	2,939,932
Equity attributable to owners of the Company		2,347,922	2,946,673
Non-controlling interests		950,465	1,165,804
TOTAL EQUITY		3,298,387	4,112,477
		3,647,404	4,522,019

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