Interim Report 2021

Hop Fung Group Holdings Limited Interim Report 2021 36 MANAGEMENT DISCUSSION AND ANALYSIS (continued) FINANCIAL REVIEW (continued) Operating results (continued) Other expenses increased from HK$8.3 million to HK$10.8 million. It was mainly due to an increase in China duties and charges in the first half of 2021. The rise in finance costs from HK$3.7 million to HK$4.4 million, was owing to higher bank borrowings in PRC with higher interest rate in the first half of 2021. EBITDA (earnings before interest, tax, depreciation and amortization) increased HK$33.3 million, from HK$21.7 million to HK$55.0 million. Profit for the period of HK$1.1 million was recorded in the first half of 2021 while loss for the period of HK$27.9 million was recorded in the first half of 2020. Liquidity, financial and capital resources At 30th June, 2021, the Group’s total cash and cash equivalents were HK$179.7 million (31st December, 2020: HK$291.6 million) which was mostly denominated in Renminbi. Net current assets and current ratio of the Group as at 30th June, 2021 were HK$280.2 million (31st December, 2020: HK$265.8 million) and 1.8 (31st December, 2020: 1.7) respectively. 管理層討論及分析 （續） 財務回顧 （續） 經營業績 （續） 其 他 開 支 由 8,300,000 港 元 增 加 至 10,800,000 港元，主要由於二零二一年 上半年之中國稅費增加。 財 務 成 本 由 3,700,000 港 元 增 加 至 4,400,000 港元，乃由於二零二一年上 半年利率較高的中國銀行借貸增加所 致。 息稅折舊攤銷前盈利（未計利息、稅 項、折舊及攤銷前盈利）由 21,700,000 港元增加 33,300,000 港元至 55,000,000 港元。二零二一年上半年錄得期間利潤 1,100,000 港元，而二零二零年上半年 錄得期間虧損 27,900,000 港元。 流動資金、財務及資本資源 於二零二一年六月三十日，本集團之 現金及現金等值總額為 179,700,000 港元（二零二零年十二月三十一日： 291,600,000 港元），大部分以人民幣列 值。 本集團於二零二一年六月三十日之 流動資產淨值及流動比率分別為 280,200,000 港元（二零二零年十二月 三十一日： 265,800,000 港元）及 1.8 （二 零二零年十二月三十一日： 1.7 ）。