Revenue and Profitability - Revenue for the six months ended 30 September 2022 was approximately HK$166.1 million, a decrease of approximately HK$185.0 million compared to HK$351.1 million in the corresponding period in 2021[14] - The Group recorded a gross loss of approximately HK$1.2 million, down from a gross profit of approximately HK$103.4 million in the same period last year, resulting in a gross loss margin of -0.7% compared to a gross profit margin of 29.5% in 2021[15] - The loss for the period was HK$13.5 million, compared to a profit of HK$78.6 million in the corresponding period of the previous year[16] - Revenue for the six months ended September 30, 2022, was approximately HK$166.1 million, a decrease from HK$351.1 million in the same period of 2021[17] - The group recorded a gross loss of approximately HK$1.2 million, down from a gross profit of HK$103.4 million in the previous year, resulting in a gross margin decline from 29.5% to a gross loss margin of 0.7%[17] - The group incurred a loss of HK$13.5 million for the period, compared to a profit of HK$78.6 million in the same period last year[19] - Total comprehensive loss for the period was HK$13,453,000, compared to a total comprehensive income of HK$78,589,000 in the same period of 2021[63] - Basic and diluted loss per share was HK$1.62, down from earnings of HK$9.47 per share in the previous year[63] Project and Contract Status - The top five projects contributed approximately HK$157.2 million in revenue, with the leading project accounting for 43.3% of total revenue[14] - As of 30 September 2022, six projects with an outstanding contract sum of HK$407.4 million were either in progress or had not yet commenced, with one project completed during the period[12] - The decrease in contract revenue was attributed to provisions for liquidated damages on certain foundation projects due to unexpected delays[15] - No new projects were awarded to the Group during the six months ended 30 September 2022[12] Financial Position and Ratios - The current ratio decreased to 3.4 as of September 30, 2022, from 4.3 as of March 31, 2022[21] - The gearing ratio improved to 6.9% as of September 30, 2022, down from 7.4% as of March 31, 2022, primarily due to the repayment of HK$2.5 million in lease liabilities[21] - Cash and bank balances were approximately HK$126.8 million as of September 30, 2022, compared to HK$147.8 million as of March 31, 2022[21] - Current assets decreased to HK$423,850,000 from HK$410,445,000 as of March 31, 2022[65] - Net current assets decreased to HK$300,765,000 from HK$314,172,000 as of March 31, 2022[65] - Total equity as of September 30, 2022, was HK$301,211,000, down from HK$314,664,000 as of March 31, 2022[67] Cash Flow and Financing - For the six months ended September 30, 2022, the net cash used in operating activities was HK$21,264,000, compared to HK$86,185,000 generated in the same period of 2021[22] - The net cash generated from investing activities was HK$5,239,000, a significant improvement from the net cash used of HK$1,295,000 in the prior year[22] - The net cash used in financing activities was HK$2,683,000, slightly lower than the HK$2,690,000 used in the same period of 2021[22] - Cash and cash equivalents at the end of the period were HK$81,250,000, down from HK$96,355,000 at the end of the same period in 2021[22] - The company reported a decrease in cash and cash equivalents of HK$18,708,000 for the six months ended September 30, 2022, compared to an increase of HK$82,200,000 in the prior year[22] Shareholding and Corporate Governance - As of September 30, 2022, Mr. Lau Pak Man holds a total of 337,520,000 shares, representing approximately 40.67% of the issued share capital of the Company[35] - Mr. Cheng Wing Cheong holds a total of 275,900,000 shares, representing approximately 33.24% of the issued share capital of the Company[35] - Ms. Kwan Kit Sum Kit holds a total of 337,520,000 shares, representing approximately 40.67% of the issued share capital of the Company[35] - The roles of chairman and chief executive officer are held by the same individual, Mr. Lau Pak Man, which deviates from the Corporate Governance Code[50] - The company has committed to maintaining an aggregate beneficial shareholding of not less than 50% by its controlling shareholders as part of its loan agreements[57] Operational Challenges and Future Outlook - The Group expects a rebound in the foundation industry in the coming years due to the Hong Kong government's commitment to increasing land supply and infrastructure investments[30] - The progress of some construction projects has been slowed down due to staff being quarantined during the COVID-19 pandemic, leading to temporary manpower shortages[30] - The Group will continue to assess the impact of the COVID-19 pandemic on its operational and financial aspects[30] - The Group aims to provide qualitative and flexible solutions to its customers to maintain its competitive edge[30] Compliance and Audit - The interim financial report for the six months ended September 30, 2022, has been reviewed by KPMG, ensuring compliance with relevant standards[54] - The interim financial report as of September 30, 2022, is prepared in accordance with Hong Kong Accounting Standard 34, with no material discrepancies noted[130] - KPMG conducted the review and found no issues that would affect the integrity of the financial report[132] Dividends and Shareholder Returns - The company has not declared any interim dividend for the six months ended September 30, 2022, compared to HK$0.03 for the same period in 2021[47] - The company did not declare any interim dividend for the six months ended September 30, 2022, compared to a dividend of 3 cents for the same period in 2021[113]

Contracts and Projects - The Group was awarded 5 new contracts with an aggregate contract sum of HK$411.6 million, compared to 4 new contracts with a total of HK$468.2 million in the previous financial year[19] - The ongoing projects faced delays due to COVID-19, resulting in manpower shortages and slow progress, particularly during the 4th and 5th waves of the pandemic[17] - The management is hopeful for time extensions on project completions due to unforeseen delays caused by the pandemic[18] - The Group continues to provide quality and flexible solutions to the construction industry, leveraging technical know-how and stringent quality control[16] - The Group undertook 16 projects contributing to revenue and gross profit, compared to 19 projects in the previous year[39] - As of March 31, 2022, seven projects with an outstanding contract sum of HK$569.2 million were either in progress or not yet commenced[35] - The increase in revenue and gross profit was attributed to projects undertaken during the year and recovery of certified variation orders for completed projects[39] - The Group's business relies on successful tenders for foundation works, with contract awards varying from year to year due to their non-recurring nature[42] - The Group faces risks related to construction progress, including potential damage to adjacent buildings, which could lead to additional costs and project delays[40] Financial Performance - For the financial year 2021/22, the group reported revenue of approximately HK$462.2 million, an increase of HK$83.4 million from the previous year[39] - Gross profit for the same period was approximately HK$91.7 million, up by HK$35.1 million compared to the previous year[39] - The gross profit margin improved to 19.8% in 2021/22 from 14.9% in 2020/21[29] - Profit before taxation increased by HK$40.6 million or 120.5% to HK$74.3 million for the financial year 2021/22[39] - Administrative and other operating expenses decreased by approximately HK$8.9 million to HK$18.8 million[39] - The top five projects contributed revenue of HK$423.6 million, with the largest project accounting for 54.3% of total revenue[39] - The Group's financial performance may be adversely affected if it fails to secure new tenders or contract awards after completing current contracts[43] - The Group's future growth and profitability are closely tied to the health of the property market and the construction industry in Hong Kong[44] Market Outlook - The Group aims to focus on "design and build" projects to maintain profit margins and safeguard shareholder interests as the economy is expected to recover[24] - The economic outlook for Hong Kong is optimistic with upcoming government projects expected to stimulate growth[24] - The Group expects a rebound in the foundation industry in the long run due to the Hong Kong government's commitment to increasing land supply and infrastructure investments[68] - The group anticipates a long-term recovery in the construction industry due to the Hong Kong government's increased land supply policy and commitment to infrastructure investment[70] - Despite intense competition in the Hong Kong construction sector, the board remains confident in the group's future net profit and operational scale growth, supported by its strong reputation and financial stability[70] Management and Governance - The management team has successfully built credibility and trust with existing and new customers despite the challenges posed by the pandemic[16] - The Group maintains a low staff turnover rate of 5% in the project management team for 2022, down from 9% in 2021, indicating a stable workforce[50] - The Group has established long-term relationships with customers and partners, with some relationships exceeding 10 years, which is crucial for its business model[49] - The Company is committed to achieving high standards of corporate governance and transparency[161] - The roles of chairman and chief executive officer are held by the same individual, which the board believes ensures consistent strategic planning[163] - The Board oversees major matters including policy formulation, overall strategies, and risk management systems, ensuring objective decision-making in the Company's interests[167] Shareholder Information - The Board proposes a final dividend of HK$0.03 per ordinary share for the year ended March 31, 2022, compared to HK$0 for the previous year[95] - As of March 31, 2022, the Company's reserves available for distribution to equity shareholders amounted to approximately HKD 1.5 billion[102] - The Company has not entered into any management contracts concerning the management and administration of its business during the financial year 2021/22[102] - The Company has taken out insurance against liabilities and costs associated with defending any proceedings against its Directors[116] - The Company has maintained compliance with the Listing Rules, ensuring at least three independent non-executive Directors, with one possessing appropriate professional qualifications[165] Risk Factors - The Group experienced difficulties with raw material shortages from Mainland China due to transportation issues during the pandemic[17] - The construction industry in Hong Kong is influenced by external factors such as government policies and economic conditions, which may impact future project availability[44] - The Group's ability to maintain its registrations is critical, as any failure could materially affect its business operations[40] - The ongoing COVID-19 pandemic has impacted construction projects, leading to manpower shortages and slower progress, but the Group has managed to redeploy staff to maintain project timelines[69] - The Group is committed to evaluating the ongoing impact of COVID-19 on its operations and finances, implementing preventive measures to mitigate its effects[70]

o n (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) (Stock code 股份代號 : 1500) Interim Report 202 中 期 報 告 IN CONSTRUCTION HOLDINGS LIMITED 現 恆 建 築 控 股 有 限 公 司 現恆建築控股有限公司 • 二零二一年中期報告 1 | --- | --- | --- | |--------------------------------------------------------------------------|--------------------------|-----------------| | | | Contents \n目錄 | | | | Page/ 頁次 | | Corporate Information | 公司資料 2 | | | Highlights | 摘要 4 | | | Management Discussion and Analysis | 管理層討論與分析 | 5 | | Dis ...

IN CONSTRUCTION HOLDINGS LIMITED 現 恆 建 築 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) (Stock code 股份代號 : 1500) Annual Report 年報 現恆建築控股有限公司 2021 年報 1 Page╱頁次 Management Discussion and Analysis 7 管理層討論及分析 Biographies of Directors and Senior Management 18 董事及高級管理人員履歷 Directors' Report 22 董事會報告 Corporate Governance Report 33 企業管治報告 Independent Auditor's Report 49 獨立核數師報告 Consolidated Statement of Profit or Loss and Other Comprehensive Income 57 綜合損益及其他全面收益表 Consolidat ...

n IN CONSTRUCTION HOLDINGS LIMITED 現 恆 建 築 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) (Stock code 股份代號 : 1500) Interim Report 中 期 報 告 2020 現恆建築控股有限公司 • 二零二零年中期報告 1 | --- | --- | --- | |--------------------------------------------------------------------------|--------------------------|------------| | | | Contents | | | | 目錄 | | | | Page/ 頁次 | | Corporate Information | 公司資料 2 | | | Highlights | 摘要 4 | | | Management Discussion and Analysis | 管理層討論與分析 | 5 | | Dis ...

IN CONSTRUCTION HOLDINGS LIMITED 現 恆 建 築 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) (Stock code 股份代號 : 1500) Annual Report 2020 現恆建築控股有限公司 2020 年報 1 Page╱頁次 Corporate Information 2 公司資料 Chairman's Statement 4 主席報告 Highlights 6 摘要 Management Discussion and Analysis 7 管理層討論及分析 Biographies of Directors and Senior Management 17 董事及高級管理人員履歷 Directors' Report 21 董事會報告 Corporate Governance Report 31 企業管治報告 Environmental, Social and Governance Report 46 環境、社會及管治報告 Indep ...

Interim Report 2019 IN CONSTRUCTION HOLDINGS LIMITED 現 恆 建 築 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) (Stock code 股份代號 : 1500) n 現恆建築控股有限公司 • 二零一九年中期報告 1 | --- | --- | --- | |--------------------------------------------------------------------------|--------------------------|-----------------| | | | Contents \n目錄 | | | | Page/ 頁次 | | Corporate Information | 公司資料 2 | | | Highlights | 摘要 4 | | | Management Discussion and Analysis | 管理層討論與分析 | 5 | | Disclosure o ...

IN CONSTRUCTION HOLDINGS LIMITED 現 恆 建 築 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) (Stock code 股份代號 : 1500) ANNUAL REPORT 年報 2019 | --- | --- | --- | |--------------------------------------------------------------|-------------|-------| | 1 | | | | Contents | | | | 目錄 | | | | | Page ╱ 頁次 | | | Corporate Information | 2 | | | 公司資料 | | | | Chairman's Statement | 4 | | | 主席報告 | | | | Highlights 摘要 | 6 | | | | | | | | | | | Management Discussion and Analysis 管理層討論及 ...