LAI SUN DEVELOPMENT COMPANY LIMITED Corporate Information
PLACE OF INCORPORATION
Hong Kong
BOARD OF DIRECTORS
Executive Directors
Lam Kin Ngok, Peter, GBS (Chairman) Chew Fook Aun (Deputy Chairman)
Lau Shu Yan, Julius (Chief Executive Officer) Lam Hau Yin, Lester
(also alternate director to U Po Chu) Lee Tze Yan, Ernest
(appointed on 25 January 2022) Tham Seng Yum, Ronald
(resigned on 27 January 2022)
Non-executive Director
U Po Chu
Independent Non-executive Directors Ip Shu Kwan, Stephen, GBS, JP
Lam Bing Kwan
Leung Shu Yin, William
Leung Wang Ching, Clarence, JP
AUDIT COMMITTEE
Leung Shu Yin, William (Chairman) Lam Bing Kwan
Leung Wang Ching, Clarence, JP
NOMINATION COMMITTEE
Lam Kin Ngok, Peter, GBS (Chairman)
Chew Fook Aun (alternate to Lam Kin Ngok, Peter) Leung Shu Yin, William
Leung Wang Ching, Clarence, JP
REMUNERATION COMMITTEE
Leung Shu Yin, William (Chairman)
Chew Fook Aun
Lam Bing Kwan
COMPANY SECRETARY
Chow Kwok Wor
REGISTERED OFFICE /PRINCIPAL OFFICE
11th Floor
Lai Sun Commercial Centre 680 Cheung Sha Wan Road Kowloon, Hong Kong
Tel: Fax:
(852) 2741 0391 (852) 2785 2775
AUTHORISED REPRESENTATIVES
Chew Fook Aun
Chow Kwok Wor
SHARE REGISTRAR AND TRANSFER OFFICE
Tricor Tengis Limited
Level 54, Hopewell Centre 183 Queen's Road East Hong Kong
INDEPENDENT AUDITOR
Ernst & Young
Certified Public Accountants Registered Public Interest Entity Auditor
PRINCIPAL BANKERS
Agricultural Bank of China Limited Bank of China (Hong Kong) Limited
Bank of Communications Co., Ltd. Hong Kong Branch The Bank of East Asia, Limited
China Construction Bank (Asia) Corporation Limited Chong Hing Bank Limited
DBS Bank Ltd.
Hang Seng Bank Limited
The Hongkong and Shanghai Banking
Corporation Limited
Industrial and Commercial Bank of China (Asia) Limited Shanghai Pudong Development Bank Co., Ltd. Standard Chartered Bank (Hong Kong) Limited United Overseas Bank Limited
SHARES INFORMATION
Place of Listing
The Main Board of The Stock Exchange of Hong Kong Limited
Stock Code/Board Lot 488/300 Shares
American Depositary Receipt
CUSIP Number: | 50731V102 |
Trading Symbol: | LSNVY |
ADR to Ordinary Share Ratio: | 1:8 |
Depositary Bank: | The Bank of |
New York Mellon | |
WEBSITE | |
www.laisun.com |
INVESTOR RELATIONS
Tel: Fax: E-mail:
(852) 2853 6116 (852) 2853 6651 ir@laisun.comThe board of directors (the "Board") of Lai Sun Development Company Limited (the "Company") presents the unaudited consolidated results of the Company and its subsidiaries (the "Group") for the six months ended 31 January 2022 together with the comparative figures of the last corresponding period as follows:
Condensed Consolidated Income Statement
For the six months ended 31 January 2022
Six months ended
31 January 2022
2021
(Unaudited) | (Unaudited) | ||
Notes | HK$'000 | HK$'000 | |
TURNOVER | 4 | 2,719,500 | 2,745,371 |
Cost of sales | (1,752,441) | (2,127,231) | |
Gross profit | 967,059 | 618,140 | |
Other revenue and gains | 152,239 | 429,936 | |
Selling and marketing expenses | (139,849) | (93,380) | |
Administrative expenses | (438,255) | (466,644) | |
Other operating expenses | (743,029) | (753,191) | |
Fair value gains/(losses) on investment properties, net | 82,843 | (363,382) | |
LOSS FROM OPERATING ACTIVITIES | 5 | (118,992) | (628,521) |
Finance costs | 6 | (482,392) | (369,546) |
Share of profits and losses of associates | (277) | (9,750) | |
Share of profits and losses of joint ventures | 87,283 | (328,933) | |
LOSS BEFORE TAX | (514,378) | (1,336,750) | |
Tax | 7 | (128,983) | (195,618) |
LOSS FOR THE PERIOD | (643,361) | (1,532,368) | |
Attributable to: | |||
Owners of the Company | (479,936) | (1,227,421) | |
Non-controlling interests | (163,425) | (304,947) | |
(643,361) | (1,532,368) | ||
LOSS PER SHARE ATTRIBUTABLE TO | |||
OWNERS OF THE COMPANY | 8 | ||
(Adjusted) | |||
Basic and diluted | (HK$0.548) | (HK$1.784) | |
LAI SUN DEVELOPMENT COMPANY LIMITED • Interim Report 2021-2022 |
Condensed Consolidated Statement of Comprehensive Income
For the six months ended 31 January 2022
Six months ended
31 January 2022
2021
(Unaudited) | (Unaudited) | |
HK$'000 | HK$'000 | |
LOSS FOR THE PERIOD | (643,361) | (1,532,368) |
OTHER COMPREHENSIVE INCOME/(EXPENSE) | ||
Other comprehensive income/(expense) that may be | ||
reclassified to profit or loss in subsequent periods: | ||
Exchange realignments | 287,764 | 2,003,098 |
Share of other comprehensive (expense)/income of associates | (805) | 3,295 |
Share of other comprehensive expense of joint ventures | (2,613) | (2,582) |
Release of exchange reserve upon dissolution and deregistration of | ||
subsidiaries | (176) | 974 |
Reclassification of reserve upon return of capital from a subsidiary | 29,965 | - |
314,135 | 2,004,785 | |
Other comprehensive expense that will not be reclassified | ||
to profit or loss in subsequent periods: | ||
Changes in fair values of financial assets at fair value through | ||
other comprehensive income | (17,373) | (16,379) |
OTHER COMPREHENSIVE INCOME FOR THE PERIOD | 296,762 | 1,988,406 |
TOTAL COMPREHENSIVE (EXPENSE)/INCOME FOR THE PERIOD | (346,599) | 456,038 |
Attributable to: | ||
Owners of the Company | (370,602) | (63,093) |
Non-controlling interests | 24,003 | 519,131 |
(346,599) | 456,038 |
Condensed Consolidated Statement of Financial Position
As at 31 January 2022
31 January | 31 July | ||
2022 | 2021 | ||
(Unaudited) | (Audited) | ||
Notes | HK$'000 | HK$'000 | |
NON-CURRENT ASSETS | |||
Property, plant and equipment | 7,395,371 | 7,464,101 | |
Right-of-use assets | 5,162,247 | 5,306,475 | |
Investment properties | 37,859,672 | 37,035,152 | |
Film rights | 11,675 | 15,109 | |
Film and TV program products | 56,914 | 54,838 | |
Music catalogs | 974 | 3,124 | |
Goodwill | 260,849 | 274,423 | |
Other intangible assets | 142,827 | 150,853 | |
Investments in associates | 218,030 | 217,163 | |
Investments in joint ventures | 7,047,743 | 7,124,459 | |
Financial assets at fair value through other comprehensive income | 1,672,576 | 1,689,200 | |
Financial assets at fair value through profit or loss | 895,360 | 1,041,480 | |
Derivative financial instruments | - | 191 | |
Debtors | 9 | 541,606 | 526,687 |
Deposits, prepayments, other receivables and other assets | 308,796 | 275,008 | |
Deferred tax assets | 2,188 | 2,147 | |
Pledged and restricted bank balances and time deposits | 56,034 | 55,105 | |
Total non-current assets | 61,632,862 | 61,235,515 | |
CURRENT ASSETS | |||
Properties under development | 3,873,291 | 2,075,324 | |
Completed properties for sale | 6,818,041 | 7,351,128 | |
Films and TV programs under production and film investments | 337,442 | 235,844 | |
Inventories | 54,328 | 48,851 | |
Financial assets at fair value through profit or loss | 256,046 | 183,290 | |
Derivative financial instruments | 3,529 | - | |
Debtors | 9 | 307,990 | 340,954 |
Deposits, prepayments, other receivables and other assets | 1,837,870 | 953,539 | |
Prepaid tax | 36,784 | 53,100 | |
Pledged and restricted bank balances and time deposits | 2,553,041 | 2,270,483 | |
Cash and cash equivalents | 6,178,117 | 8,284,797 | |
22,256,479 | 21,797,310 | ||
Assets classified as held for sale | 1,938 | 5,273 | |
Total current assets | 22,258,417 | 21,802,583 | |
LAI SUN DEVELOPMENT COMPANY LIMITED • Interim Report 2021-2022 |
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Lai Sun Development Company Limited published this content on 20 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2022 10:14:22 UTC.
