[Caihua News] Century Entertainment International (00959.HK) announced that for the six months ended September 30, 2021, the group's interim income was HK $200000, down 92.62% from the same period last year; the company's owners' share of losses during the period was HK $20.808 million, an increase of 237.35% over the same period last year; basic loss per share was HK16.22 cents; no interim dividend was paid.
In mid-2021, the decrease in Group revenue was mainly due to the spread of the COVID-19 epidemic, the mandatory blockade in Cambodia and the temporary closure of all casinos, affecting the casino business and the ongoing reopening of casinos. The increase in loss was mainly due to (a) the delay in the reopening of new DaraSakor casinos due to the spread of the COVID-19 epidemic in the Cambodian community, resulting in no revenue from the casino business during the reporting period; and (b) a gain of approximately HK $11 million on the fair value of accepted instruments for the six months ended 30 September 2020.
Restrictions on the operation of casinos in the Asia-Pacific region, including Macau, the Philippines, Singapore and Cambodia, have also been relaxed and several casinos have been allowed to reopen at the end of September.
Cisheng Global Limited ("Cisheng"), a wholly-owned subsidiary of the Company, entered into a transfer agreement (the "transfer Agreement") with LionKingEntertainmentCompanyLimited ("LionKing", the assignor of gaming table business rights (the "assignor"), a company wholly owned by Mr. Ng Wenxin, Chairman and Chief Executive Officer of the Company) and four supplementary framework agreements relating to the transfer of business rights of gaming tables in the midcourt of casinos in Cambodia.
Since the beginning of January 2020, the business of Xiaohong Investment Co., Ltd., a wholly-owned subsidiary of the Group, and its subsidiaries has been adversely affected by the COVID-19 epidemic. During the period under review, Xiaohong Group contributed approximately HK $200000 to the Group. By assessing the feasibility of potential projects and closely evaluating its financial performance, the Group remains focused on developing its AR and VR entertainment businesses. Despite the challenges posed by the continuing epidemic, the Group will keep a close eye on the changing market and hope that the resumption of regional tourism in international tourism will open up new business opportunities for its AR and VR entertainment business.
As at 30 September 2021, there were net current liabilities of approximately HK $102 million and net liabilities of approximately HK $43.803 million.