Financial Performance - Revenue for the year ended July 31, 2024, was HKD 279,335,000, representing a 2.7% increase from HKD 271,997,000 in the previous year[1] - Gross profit increased by 7.9% to HKD 57,317,000 compared to HKD 53,102,000 in the prior year[1] - Shareholders' profit attributable to the company was HKD 7,086,000, a slight increase of 0.1% from HKD 7,077,000[2] - Basic and diluted earnings per share remained stable at HKD 0.71[2] - Operating profit rose to HKD 12,458,000, up from HKD 9,600,000, indicating a strong operational performance[2] - The company's total equity increased to HKD 443,727,000 from HKD 441,641,000, indicating a stable financial position[3] - The annual profit attributable to the company's owners was HKD 7,086,000 in 2024, slightly up from HKD 7,077,000 in 2023[27] - The group's total profit and comprehensive income for the year ending July 31, 2024, remained at approximately HKD 7.1 million, with a net profit margin decreasing from about 2.6% to 2.5%[47] Revenue Breakdown - Customer contract revenue for the year was HKD 195,055,000, compared to HKD 185,282,000 in the previous year, indicating an increase of about 5.2%[11] - Heavy equipment and parts sales generated revenue of HKD 158,430,000 for the year ended July 31, 2024, up from HKD 142,298,000 in the previous year, reflecting a growth of approximately 11.4%[11] - Rental services for heavy equipment contributed HKD 105,279,000 in revenue, a decrease from HKD 116,842,000 in the previous year, showing a decline of about 9.3%[15] - Maintenance, logistics, and other ancillary services generated revenue of HKD 15,626,000, compared to HKD 12,857,000 in the previous year, marking an increase of approximately 21.5%[11] - Revenue from the sale of heavy equipment and parts increased from approximately HKD 142.3 million to approximately HKD 158.4 million, representing a rise of about HKD 16.1 million or 11.3%[37] - Revenue from heavy equipment leasing and related services decreased from approximately HKD 116.8 million to approximately HKD 105.3 million, a decline of about HKD 11.5 million or 9.8%[38] - Revenue from maintenance, logistics, and other ancillary services increased from approximately HKD 12.9 million to approximately HKD 15.6 million, an increase of about HKD 2.7 million or 20.9%[39] Dividends - The final dividend per share increased significantly by 200.0% to HKD 1.5 from HKD 0.5 in the previous year[1] - The proposed final dividend for 2024 is HKD 15,000,000, up from HKD 5,000,000 in 2023, reflecting a 200% increase[26] - The board proposed a final cash dividend of HKD 0.015 per ordinary share, subject to shareholder approval[48] Assets and Liabilities - Total assets decreased slightly to HKD 306,560,000 from HKD 308,946,000 year-over-year[3] - Net current assets increased to HKD 282,299,000 from HKD 276,171,000, reflecting improved liquidity[3] - Trade and lease receivables decreased to HKD 81,631,000 in 2024 from HKD 103,085,000 in 2023, a decline of 20.8%[28] - The provision for trade and lease receivables increased to HKD 6,648,000 in 2024 from HKD 3,499,000 in 2023, a rise of 90.1%[28] - The company's contract liabilities rose significantly to HKD 8,729,000 in 2024 from HKD 1,707,000 in 2023, marking a 411.5% increase[29] Costs and Expenses - The cost of revenue for the fiscal year ending July 31, 2024, was approximately HKD 222.0 million, an increase of about HKD 3.1 million or 1.4% compared to approximately HKD 218.9 million for the previous year[40] - Total employee costs, including directors' remuneration, decreased to HKD 54,995,000 in 2024 from HKD 66,010,000 in 2023, a reduction of 16.8%[23] - The company's financing costs increased to HKD 1,082,000 in 2024 from HKD 863,000 in 2023, representing a 25.4% rise[20] - Administrative and other operating expenses decreased by approximately HKD 0.2 million or 0.5% to about HKD 42.1 million[44] - Financing costs increased by approximately HKD 0.2 million or 22.2% to about HKD 1.1 million, primarily due to increased interest expenses from new lease liabilities[45] - Income tax expenses increased by approximately HKD 2.6 million or 158.4% due to the reversal of previously recognized tax losses[46] Employee Information - As of July 31, 2024, the group employed 107 full-time employees, a decrease from 133 employees as of July 31, 2023[59] - Total employee costs for the year ended July 31, 2024, were approximately HKD 56.0 million, down from approximately HKD 66.0 million in the previous year, reflecting a reduction of about 15.15%[59] - The company has adopted a share option scheme since June 30, 2017, to incentivize employees and directors for their contributions[59] Corporate Governance and Compliance - The board has adhered to the good corporate governance principles as per the Stock Exchange Listing Rules, with a noted deviation regarding the roles of the Chairman and CEO[60] - The independent auditor confirmed that the financial statements for the year ended July 31, 2024, are consistent with the audited consolidated financial statements[64] - The company did not purchase, sell, or redeem any of its listed securities during the year ended July 31, 2024[62] - The annual report for the year ended July 31, 2024, will be published in accordance with the Listing Rules and made available to shareholders[68] Future Outlook - The company anticipates continued strong demand for heavy equipment in the coming years, driven by government infrastructure projects with an expected annual investment of over HKD 90 billion[35] - The company plans to diversify its supplier base and procure various technological safety systems and smart products to enhance sustainability and competitiveness[35] Events and Changes - The company is currently evaluating the impact of new accounting standards on its financial reporting[7] - The company has not early adopted any new or revised Hong Kong Financial Reporting Standards that are effective after January 1, 2024[8] - There have been no significant events affecting the company since the reporting period[33] - The company has no significant financial impact from the recent amendments to the Employment Ordinance regarding long service payments as of July 31, 2024[32] Meeting and Registration - The company will hold its 2024 Annual General Meeting on November 26, 2024[65] - The share transfer registration will be suspended from November 21, 2024, to November 26, 2024, for the upcoming Annual General Meeting[66] - The company will also suspend share transfer registration from December 3, 2024, to December 5, 2024, for the proposed final dividend[67]

（於開曼群島註冊成立的有限公司） 股份代號 : 2102 中 期 業 績 報 告 2023-2024 截至2024年1月31日止六個月業績 01 德利機械控股有限公司 2023-2024 中期業績報告 目錄 | 公司資料 | 2 | | --- | --- | | 財務摘要 | 3 | | 中期簡明綜合損益及其他全面收益表 | 4 | | 中期簡明綜合財務狀況表 | 5 | | 中期簡明綜合權益變動表 | 6 | | 中期簡明綜合現金流量表 | 7 | | 中期簡明綜合財務報表附註 | 8 | | 管理層討論及分析 | 18 | | 企業管治及其他資料 | 23 | 德利機械控股有限公司 02 2023-2024 中期業績報告 公司資料 董事會 執行董事 周聯發先生 （主席兼行政總裁） 廖淑儀女士 吳慧瑩女士 非執行董事 鄭如雯女士 獨立非執行董事 郭兆文黎剎騎士勳賢 羅子璘先生 黃文顯博士 公司秘書 吳慧瑩女士 授權代表 周聯發先生 吳慧瑩女士 董事委員會 審核委員會 羅子璘先生 （主席） 郭兆文黎剎騎士勳賢 黃文顯博士 薪酬委員會 黃文顯博士 （主席） 郭兆文黎剎騎士勳賢 羅子璘先生 提名委員會 郭兆文黎 ...

Financial Performance - The group recorded revenue of approximately HKD 132.6 million for the six months ended January 31, 2024, an increase of about 0.8% compared to approximately HKD 131.6 million for the same period in 2023[3] - The total profit and comprehensive income increased by approximately 57.4% to about HKD 8.5 million for the six months ended January 31, 2024, compared to approximately HKD 5.4 million for the same period in 2023[3] - Earnings per share for the six months ended January 31, 2024, was approximately HKD 0.85, up from HKD 0.54 for the same period in 2023[3] - The group reported a profit of HKD 10,142,000 for the six months ended January 31, 2024, compared to HKD 6,580,000 for the same period in 2023, marking a 54% increase[20] - Profit and total comprehensive income for the period increased by approximately 57.4% from about HKD 5.4 million to approximately HKD 8.5 million, with a net profit margin rising from about 4.1% to approximately 6.4%[54] Revenue Breakdown - Heavy equipment sales and parts generated revenue of HKD 73,675,000, up 17.5% from HKD 62,686,000 in the previous year[17] - The rental of heavy equipment saw a decline in revenue to HKD 38,057,000, down 18% from HKD 46,453,000 year-on-year[17] - Maintenance and ancillary services revenue increased significantly to HKD 9,483,000, up 60% from HKD 5,917,000 in the prior year[17] - Revenue for the current period increased by approximately 0.8% from about HKD 131.6 million to about HKD 132.6 million, driven by an increase in heavy equipment and parts sales by approximately HKD 11.0 million[45] Cost and Expenses - Gross profit for the six months ended January 31, 2024, was approximately HKD 32.4 million, compared to HKD 29.8 million for the same period in 2023, reflecting an increase in gross margin[5] - The group reported a decrease in the cost of revenue to HKD 100.2 million for the six months ended January 31, 2024, from HKD 101.8 million for the same period in 2023[5] - Administrative and other operating expenses decreased by approximately HKD 1.0 million or about 4.5% to approximately HKD 22.2 million, mainly due to reduced depreciation and marketing expenses[51] - Financing costs decreased by approximately HKD 0.1 million or about 16.7% to approximately HKD 0.5 million, attributed to a reduction in average bank borrowings compared to the same period last year[52] Assets and Liabilities - The group’s total assets increased to HKD 340.6 million as of January 31, 2024, compared to HKD 308.9 million as of July 31, 2023[7] - Current liabilities increased to HKD 41.8 million as of January 31, 2024, from HKD 32.8 million as of July 31, 2023[7] - The net asset value of the group was HKD 445.2 million as of January 31, 2024, compared to HKD 441.6 million as of July 31, 2023[7] - Trade and lease receivables decreased from HKD 106.6 million as of July 31, 2023, to HKD 100.6 million as of January 31, 2024, after accounting for impairment losses[32] - The group’s trade payables as of January 31, 2024, amounted to approximately HKD 8.8 million, down from HKD 10.5 million as of July 31, 2023[36] Dividends and Shareholder Returns - The group declared a dividend of HKD 5 million during the period, compared to HKD 10 million in the previous period[8] - The company has decided not to declare any interim dividend for the six months ended January 31, 2024, consistent with the previous year[27] - The board decided not to declare any interim dividend for the six months ended January 31, 2024, consistent with the previous period[63] Accounting and Compliance - The group plans to adopt new accounting guidelines by July 31, 2024, which may impact future financial statements, although the full effect is not yet estimable[15] - The group has begun implementing changes to its accounting policies to align with new guidelines from the Hong Kong Institute of Certified Public Accountants[15] - The interim results for the period have not been reviewed by external auditors but have been reviewed by the audit committee, which consists of three independent non-executive directors[71] - The board is not aware of any significant events affecting the group that occurred after the end of the period and up to the date of this announcement[70] Future Outlook and Strategy - The group expects an average annual investment of over HKD 90 billion in public works projects over the next few years, driven by government infrastructure initiatives[43] - The group plans to diversify its supplier base and procure various technological safety systems and smart products to enhance sustainability and competitiveness[43] Employment and Workforce - The group employed 107 full-time employees as of January 31, 2024, down from 133 on July 31, 2023, with total employee costs of approximately HKD 28.6 million[62] Other Income - The group’s total other income and gains amounted to HKD 866,000 for the six months ended January 31, 2024, compared to HKD 692,000 in the previous year, indicating a 25.1% increase[17] - Other income and net gains rose from approximately HKD 0.7 million to about HKD 0.9 million, an increase of approximately 28.6%, primarily due to increased net gains from the sale of properties, plants, and equipment[49]

Financial Performance - The company reported a significant decrease in net profit attributable to shareholders, down 84.3% to approximately HKD 7.1 million for the year ended July 31, 2023, compared to HKD 45.1 million for the previous year[23]. - Earnings per share for the year were HKD 0.71, a decline from HKD 4.51 in the previous year[23]. - Total revenue for the year ended July 31, 2023, was approximately HKD 272.0 million, a decrease of about HKD 123.2 million or 31.2% from approximately HKD 395.2 million for the year ended July 31, 2022[34]. - Revenue from the sale of heavy equipment and parts decreased by approximately HKD 45.2 million or 24.1%, from approximately HKD 187.5 million to approximately HKD 142.3 million[35]. - Revenue from heavy equipment leasing and related services decreased by approximately HKD 80.2 million or 40.7%, from approximately HKD 197.0 million to approximately HKD 116.8 million[36]. - Revenue from maintenance and auxiliary services increased by approximately HKD 2.2 million or 20.6%, from approximately HKD 10.7 million to approximately HKD 12.9 million[38]. - Cost of revenue for the year ended July 31, 2023, was approximately HKD 218.9 million, a decrease of about HKD 89.3 million or 29.0% from approximately HKD 308.2 million for the previous year[39]. - Gross profit decreased from approximately HKD 87.0 million to approximately HKD 53.1 million, a decline of about 39.0%[40]. - The gross profit margin for the year ended July 31, 2023, was approximately 19.5%, down from approximately 22.0% for the previous year[40]. - Other income and net gains decreased from approximately HKD 7.2 million for the year ended July 31, 2022, to approximately HKD 1.9 million for the year ended July 31, 2023, a decline of about 73.6%[41]. - Income tax expenses decreased by approximately HKD 6.6 million or about 79.5% for the year ended July 31, 2023, in line with the decrease in profit[46]. Dividends and Shareholder Information - The board proposed a final dividend of HKD 0.5 per share, subject to approval at the upcoming annual general meeting[23]. - The proposed final cash dividend is HKD 0.005 per ordinary share, subject to approval at the upcoming annual general meeting[48]. - The company had approximately HKD 94.9 million available for distribution to shareholders as of July 31, 2023, compared to HKD 95.7 million as of July 31, 2022[109]. - The annual general meeting is scheduled for November 28, 2023, with a suspension of share transfer registration from November 23 to November 28, 2023[81]. - Shareholders holding at least 10% of voting rights can request a special general meeting to address specified matters[195]. - The company secretary must verify the identity and shareholding of the requesting shareholders[196]. - If the board fails to convene the meeting within 21 days of the request, the requesting shareholders may call the meeting themselves[196]. - The company is obligated to reimburse reasonable expenses incurred by the requesting shareholders if the board fails to hold the meeting[196]. Management and Governance - The company reported a significant increase in overall management and strategic planning under the leadership of the CEO, Mr. Zhou, who has over 25 years of experience in the heavy equipment industry[60]. - The company has expanded its board with independent directors who bring over 30 years of experience in accounting and finance, enhancing governance and oversight[68][69]. - The company is committed to maintaining high standards of corporate governance through the expertise of its independent directors[68][69]. - The management team is well-equipped to navigate market challenges and capitalize on growth opportunities in the heavy equipment industry[60][62]. - The board consists of seven members, with more than 50% being non-executive directors, including independent non-executive directors, and three out of seven directors are female, reflecting gender diversity[141]. - The independent auditor, RSM Hong Kong, is proposed for reappointment at the upcoming annual general meeting[132]. - The company has maintained good corporate governance practices in accordance with the applicable codes, with a noted deviation from code provision C.2.1[131]. - The board has established mechanisms to ensure independent opinions are provided, promoting a culture of open discussion among directors[145]. - The company emphasizes the importance of integrity and ethical conduct in its operations, supported by a code of conduct and anti-fraud policies[137]. - The board has established mechanisms to provide independent views and opinions to enhance governance practices[177]. - The company aims to continuously improve its corporate governance standards in response to changing environments and demands[177]. Operational Strategies and Innovations - The company continues to provide "one-stop service" for earthmoving equipment users and has adopted flexible fleet management strategies for its leasing business[24]. - Advanced technology solutions have been implemented, including the ConSite® system for Hitachi excavators and the Fleetm@tic® satellite-based fleet management system for Bell brand articulated dump trucks[24]. - The company has introduced several hybrid hydraulic and electric excavators in Hong Kong to meet customer demand while showcasing energy-saving performance[25]. - A series of solutions have been pre-approved for the Construction Industry Innovation and Technology Fund, including smart safety systems and AI-equipped Mobile360 systems[24]. - The company remains cautiously optimistic about the future demand for heavy equipment, anticipating an average annual investment of over HKD 100 billion in public works projects in the coming years[31]. - The company aims to leverage its extensive experience in the heavy equipment sector to explore new market opportunities and product innovations[60][61]. Employee and Workforce Information - As of July 31, 2023, the company has 133 full-time employees, a decrease from 180 employees as of July 31, 2022[124]. - The total employee cost for the fiscal year ending July 31, 2023, was approximately HKD 66.0 million, down from HKD 100.0 million in the previous year[124]. - The employee team consists of over 75% technical and operational staff, with a higher proportion of male employees compared to female employees[192]. - The board does not see the necessity to establish measurable goals for gender diversity in the workforce due to the nature of the business and labor supply conditions[192]. Risk Management and Compliance - The company emphasizes the importance of risk management to mitigate financial and operational risks[85]. - The group has complied with relevant laws and regulations that significantly impact its business and operations during the year[87]. - The audit committee is responsible for reviewing financial reports and internal control systems to ensure accurate financial assessments[165]. - An external consultant was hired to assist in identifying and assessing the group's risks and to review the effectiveness of the risk management and internal control systems[186]. - The board has authorized the audit committee to oversee the risk management and internal control systems, ensuring they are adequate and effective[185]. Charitable Contributions and Community Engagement - The group made charitable donations totaling HKD 78,000 during the year ended July 31, 2023[80].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Tak Lee Machinery Holdings Limited 德 利 機 械 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2102） 截至二零二三年七月三十一日止年度 全年業績公告 財務摘要 • 於截至二零二三年七月三十一日止年度，本集團收入約達272.0百萬港元， 較截至二零二二年七月三十一日止年度的約395.2百萬港元減少約31.2%。 • 本集團溢利及全面收益總額由截至二零二二年七月三十一日止年度的約 45.1百萬港元減少至截至二零二三年七月三十一日止年度的約7.1百萬港元， 減幅約達84.3%。 • 截至二零二三年七月三十一日止年度的本公司擁有人應佔每股盈利約為0.71 港仙（二零二二年：約4.51港仙）。 • 董事會建議就截至二零二三年七月三十一日止年度派付現金末期股息每股 普通股0.5港仙，惟須待股東於二零二三年股東週年大會上批准。 ...

Financial Performance - The company reported revenue of approximately HKD 131.6 million for the six months ended January 31, 2023, a decrease of about 27.5% compared to HKD 181.5 million for the same period in 2022[6]. - The total profit and comprehensive income decreased by approximately 68.4% to HKD 5.4 million, down from HKD 17.1 million in the previous year[6]. - Earnings per share for the period were approximately HKD 0.54, compared to HKD 1.71 for the same period last year[6]. - The group reported a segment profit of HKD 6.580 million for the six months ended January 31, 2023, compared to HKD 20.328 million in the previous year, representing a decline of 67.6%[18]. - Total profit and comprehensive income for the period decreased by approximately 68.4% from about HKD 17.1 million to approximately HKD 5.4 million, with a net profit margin dropping from about 9.4% to approximately 4.1%[52]. Revenue Breakdown - Total revenue for the six months ended January 31, 2023, was HKD 131.606 million, a decrease of 27.5% from HKD 181.486 million in the same period last year[16]. - Revenue from heavy equipment and parts sales was HKD 62.686 million, down 13.4% from HKD 72.387 million year-on-year[16]. - Rental-related operating services revenue decreased by 54.3% to HKD 16.550 million from HKD 36.140 million[16]. - Maintenance and ancillary services revenue increased by 25.4% to HKD 5.917 million from HKD 4.718 million[16]. - Revenue decreased by approximately 27.5% from about HKD 181.5 million to approximately HKD 131.6 million, primarily due to a reduction in heavy equipment and parts sales by about HKD 9.7 million and a decrease in rental income by about HKD 41.4 million[43]. Expenses and Costs - The cost of goods sold for the period was HKD 47.038 million, down from HKD 61.177 million, reflecting a decrease of 23.1%[23]. - Employee costs, including directors' remuneration, decreased by 34.2% to HKD 35.218 million from HKD 53.543 million[23]. - Administrative and other operating expenses rose by approximately 16.0% from about HKD 20.0 million to approximately HKD 23.2 million, attributed to overall increases in operating costs[48]. - Financing costs increased by approximately 20.0% from about HKD 0.5 million to approximately HKD 0.6 million, primarily due to an increase in average bank borrowings[49]. Cash Flow and Assets - Operating cash flow for the six months ended January 31, 2023, was a net outflow of HKD 10.2 million, compared to a net inflow of HKD 49.7 million in the previous year[12]. - The company's cash and cash equivalents decreased to HKD 46.5 million at the end of the period from HKD 87.2 million at the beginning of the period[12]. - Total assets less current liabilities amounted to HKD 462.5 million as of January 31, 2023, compared to HKD 469.8 million as of July 31, 2022[9]. - Non-current assets decreased to HKD 172.9 million as of January 31, 2023, from HKD 190.0 million as of July 31, 2022[9]. - Trade and lease receivables decreased from HKD 97.2 million as of July 31, 2022, to HKD 85.0 million as of January 31, 2023[29]. Dividends and Shareholder Information - The company decided not to declare any interim dividend for the six months ended January 31, 2023, compared to a dividend of HKD 0.01 per share for the same period in 2022[6]. - The company did not declare any interim dividend for the six months ended January 31, 2023, compared to an interim dividend of HKD 0.01 per share for the same period in 2022[25]. - As of January 31, 2023, Generous Way Limited held 750 million shares, representing 75% of the company's issued shares[65]. Market and Operational Insights - The company continues to provide various heavy equipment for projects related to the expansion of Hong Kong's Terminal 2 and the three-runway system despite a decline in demand for heavy vehicles due to the COVID-19 pandemic[40]. - The company maintains a cautious optimism regarding the future demand for heavy equipment due to anticipated government infrastructure investments exceeding HKD 100 billion annually[41]. - The group did not report any significant new product developments or market expansions during this period[19]. - All revenue was generated in Hong Kong, with no identifiable assets or liabilities located outside of Hong Kong[19]. Governance and Compliance - The company has adhered to the corporate governance principles and complied with applicable code provisions, except for the separation of the roles of Chairman and CEO[60]. - The company has not granted or agreed to grant any share options under its share option scheme since its adoption on June 30, 2017, with a maximum of 100 million shares available for grant[66]. - The group has no significant contingent liabilities as of January 31, 2023, consistent with the previous year[57]. - The company has not identified any conflicts of interest related to its business operations during the period[67]. Audit and Reporting - The interim results for the period have not been audited but were reviewed by the audit committee consisting of three independent non-executive directors[74]. - No significant events affecting the group have occurred after the end of the reporting period up to the date of this report[73].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Tak Lee Machinery Holdings Limited 德 利 機 械 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2102） 截至二零二三年一月三十一日止六個月 中期業績公告 財務摘要 • 本集團於截至二零二三年一月三十一日止六個月錄得收入約131.6百萬港元， 較截至二零二二年一月三十一日止六個月的約181.5百萬港元減少約27.5%。 • 本集團的溢利及全面收益總額由截至二零二二年一月三十一日止六個月的 約17.1百萬港元減少約68.4%至截至二零二三年一月三十一日止六個月的約 5.4百萬港元。 • 截至二零二三年一月三十一日止六個月的每股盈利約為0.54港仙（截至二 零二二年一月三十一日止六個月：約1.71港仙）。 • 董事會議決不向其股東宣派截至二零二三年一月三十一日止六個月的任何 中期股息（截至二零二二年一月三十一日止六個月： 1.0港仙）。 ...

Financial Performance - The company reported a 14.3% decrease in net profit attributable to shareholders, amounting to approximately HKD 45.1 million for the year ended July 31, 2022, compared to HKD 52.6 million for the previous year[26]. - Earnings per share for the year ended July 31, 2022, were HKD 5.26, reflecting a 14.3% decline from HKD 5.26 in the prior year[26]. - The company reported a profit attributable to shareholders of approximately HKD 45.1 million for the year ended July 31, 2022, a decrease of about 14.3% from HKD 52.6 million for the previous year[35]. - Total revenue for the year ended July 31, 2022, was approximately HKD 395.2 million, a decrease of about HKD 90.6 million or 18.7% compared to HKD 485.8 million for the previous year[41]. - Revenue from the sale of heavy equipment and parts decreased from approximately HKD 257.2 million to about HKD 187.5 million, a decline of approximately HKD 69.7 million or 27.1%[42]. - Revenue from heavy equipment leasing decreased from approximately HKD 217.1 million to about HKD 197.0 million, a decline of approximately HKD 20.1 million or 9.3%[46]. - Revenue from maintenance and support services decreased from approximately HKD 11.5 million for the year ended July 31, 2021, to approximately HKD 10.7 million for the year ended July 31, 2022, a decline of about HKD 0.8 million or 7.0% due to a slowdown in repair services during the year[47]. - Gross profit decreased from approximately HKD 90.6 million for the year ended July 31, 2021, to approximately HKD 87.0 million for the year ended July 31, 2022, a decline of about 4.0%, while the gross profit margin increased to approximately 22.0% from 18.6%[49]. - Other income and net gains decreased from approximately HKD 9.3 million for the year ended July 31, 2021, to approximately HKD 7.2 million for the year ended July 31, 2022, a decline of about 22.6% mainly due to a reduction in government subsidies[54]. - Financing costs decreased by approximately 52.6% from about HKD 1.9 million for the year ended July 31, 2021, to approximately HKD 0.9 million for the year ended July 31, 2022, consistent with a reduction in average bank borrowings[57]. - The total employee cost for the year ended July 31, 2022, was approximately HKD 100.0 million, down from HKD 116.5 million in the previous year[160]. - The group employed 180 full-time employees as of July 31, 2022, a decrease from 215 employees a year earlier[160]. Dividends - The board proposed a final dividend of HKD 0.01 per share, bringing the total cash dividend for the year to HKD 0.02 per share, down from HKD 0.035 per share in the previous year[26]. - The proposed final dividend is HKD 0.01 per ordinary share, with a total cash dividend of HKD 0.02 per ordinary share for the year ended July 31, 2022, compared to HKD 0.035 for the previous year[62]. - The company reported a total cash dividend of HKD 2.0 per share for the year ended July 31, 2022, down from HKD 3.5 per share in the previous year[106]. Business Operations and Strategy - The company continues to provide "one-stop service" for earthmoving equipment users and employs flexible fleet management strategies for its leasing business[26]. - Advanced technologies are being utilized in the company's earthmoving equipment to enhance safety, productivity, and asset management[26]. - The company has become the exclusive distributor for Xwatch brand safety and control systems and an authorized distributor for the Mobile360 system, enhancing its product offerings[30]. - The company remains cautiously optimistic about the heavy equipment sales and leasing market, anticipating strong demand due to government infrastructure investments exceeding HKD 100 billion annually in the coming years[36]. - The company plans to continue expanding its supplier base and product offerings to enhance sustainability, productivity, and competitiveness[31]. - The company is committed to exploring new business opportunities and maintaining growth despite ongoing challenges[31]. Acquisitions - The company acquired 100% equity of Orange Fortune Limited for a cash consideration of HKD 22,000,000 during the fiscal year ending July 31, 2022[72]. - The acquisition of Orange Fortune Limited was recorded as an asset purchase rather than a business acquisition, thus no goodwill or bargain purchase gain was recognized[75]. - The acquisition aims to expand the company's operations by utilizing more space for fleet parking, maintenance, and increasing inventory of equipment and spare parts[164]. - The target company's properties are located near the company's main operational sites, facilitating management and reducing employee commuting time[164]. - The acquisition was approved at a special general meeting on February 8, 2022, and completed on February 28, 2022[166]. Financial Position - As of July 31, 2022, the current ratio was approximately 5.6 times, down from 6.1 times a year earlier, with total bank and cash balances of approximately HKD 87.2 million[63]. - The debt-to-equity ratio as of July 31, 2022, was approximately 7.4%, down from 8.9% a year earlier, indicating a stable financial condition[63]. - The company had no significant contingent liabilities or asset pledges as of July 31, 2022, maintaining a clean balance sheet[68][69]. - As of July 31, 2022, the company's issued share capital was HKD 10,000,000, with a total of 1,000,000,000 ordinary shares issued at a par value of HKD 0.01 each[70]. - As of July 31, 2022, the company has distributable reserves of approximately HKD 95.7 million, compared to HKD 99.3 million as of July 31, 2021[140]. Corporate Governance - The board presented its report and audited consolidated financial statements for the year ended July 31, 2022[103]. - The board consists of a chairman and CEO, three executive directors, and three independent non-executive directors[141]. - Independent non-executive directors have confirmed their independence according to the listing rules[146]. - The board has established a nomination policy to ensure a structured process for selecting and re-electing directors[195]. - The company emphasizes the importance of board diversity, implementing measurable goals to enhance board effectiveness[196]. - Each director has undergone formal training to ensure they are well-informed about the company's operations and regulatory responsibilities[187]. - The company has adopted a standard code of conduct for securities trading, which all directors have confirmed to comply with[185]. - The board's composition and skills are regularly reviewed to ensure alignment with the company's business needs and shareholder structure[195]. - The company encourages ongoing professional development for all directors to enhance their knowledge and skills[187]. - The board held five meetings during the fiscal year ending July 31, 2022, with all directors attending all meetings[199]. - The roles of Chairman and CEO are not separated, with Mr. Zhou serving in both capacities since the company's establishment in 2001, which is believed to benefit the group's operations and management[200]. Market Conditions - The impact of the COVID-19 pandemic on the local economy remains uncertain, but the company is monitoring the situation closely[36]. - The company has experienced over 7 years of sales and service support management experience in the heavy equipment industry[100]. - The company has a strong focus on after-sales service and parts sales, with Li Shun-An overseeing these operations since 2014[101]. Compliance and Regulations - The company maintained compliance with relevant laws and regulations during the year ended July 31, 2022[114]. - The company has established safety, quality, and environmental management systems to meet customer requirements[113]. - The company has maintained compliance with listing rules, ensuring at least three independent non-executive directors, constituting at least one-third of the board[183]. - The board believes that the company has complied with the disclosure requirements under the Listing Rules[166]. - The company has not changed its independent auditor in the past three years[174]. - No significant events affecting the group have occurred after the fiscal year ending July 31, 2022, up to the report date[175].

Financial Performance - The group recorded revenue of approximately HKD 181.5 million for the six months ended January 31, 2022, a decrease of about 30.8% compared to approximately HKD 262.2 million for the same period in 2021[6]. - The total profit and comprehensive income decreased by approximately 44.8% to about HKD 17.1 million for the six months ended January 31, 2022, down from approximately HKD 31.0 million for the same period in 2021[6]. - Earnings per share for the six months ended January 31, 2022, was approximately HKD 1.71, compared to HKD 3.10 for the same period in 2021[6]. - Gross profit for the six months ended January 31, 2022, was HKD 40.1 million, down from HKD 48.8 million in the same period in 2021[8]. - Operating profit for the six months ended January 31, 2022, was HKD 20.8 million, compared to HKD 37.0 million for the same period in 2021[8]. - The company reported a total comprehensive income of HKD 17,103,000 for the period, compared to HKD 30,957,000 in the previous year, reflecting a decline of 44.7%[11]. - The company's profit attributable to owners for the six months ended January 31, 2022, was HKD 17,103,000, a decrease of 44.1% compared to HKD 30,957,000 for the same period in 2021[31]. - Total profit and comprehensive income for the period decreased by approximately 44.8% to approximately HKD 17.1 million, with a net profit margin dropping from approximately 11.8% to about 9.4%[60]. Revenue Breakdown - Revenue from the sale of heavy equipment and parts was HKD 72,387,000, down 51.0% from HKD 147,597,000 in the previous year[20]. - Rental income from heavy equipment was HKD 104,381,000, slightly down by 4.8% from HKD 109,041,000 in the previous year[20]. - Revenue decreased by approximately 30.8% to about HKD 181.5 million from approximately HKD 262.2 million for the six months ended January 31, 2021, primarily due to a reduction in heavy equipment and parts sales[51]. Cash Flow and Assets - For the six months ended January 31, 2022, the company reported a net cash inflow from operating activities of HKD 49,654,000, a significant increase from HKD 19,486,000 in the same period last year, representing a growth of 154.5%[12]. - The group’s cash and cash equivalents as of January 31, 2022, were HKD 108.2 million, compared to HKD 109.2 million as of July 31, 2021[9]. - The company’s total equity as of January 31, 2022, was HKD 426,605,000, a slight decrease from HKD 429,502,000 as of August 1, 2021[11]. - Total assets less current liabilities as of January 31, 2022, amounted to HKD 449.5 million, a slight decrease from HKD 455.5 million as of July 31, 2021[9]. Dividends - The board declared an interim dividend of HKD 0.01 per ordinary share, expected to be paid in cash on or around May 3, 2022[6]. - The company paid dividends of HKD 20,000,000 during the period, compared to HKD 10,000,000 in the previous year, indicating a 100% increase in dividends paid[11]. - The company declared an interim dividend of HKD 10,000,000 for the six months ended January 31, 2022, compared to HKD 15,000,000 for the same period in 2021[41]. Costs and Expenses - The cost of goods sold for the period was HKD 61,177,000, down 51.6% from HKD 126,359,000 in the previous year[29]. - The cost of revenue for the period was approximately HKD 141.4 million, a decrease of about 33.7% from approximately HKD 213.4 million for the same period last year[52]. - Employee costs for the period were approximately HKD 53.5 million, down from approximately HKD 60.6 million for the same period last year[67]. - Administrative and other operating expenses increased by approximately HKD 0.6 million or about 3.1% to approximately HKD 20.0 million for the period[57]. - Financing costs decreased by approximately HKD 0.8 million or about 61.5% to approximately HKD 0.5 million for the period, attributed to a reduction in average bank borrowings[58]. - Income tax expenses decreased by approximately HKD 1.5 million or about 32.0% due to a reduction in taxable profits for the period[59]. Market and Business Outlook - The company remains cautiously optimistic about the outlook for heavy equipment sales and rentals, anticipating strong demand due to government infrastructure investment plans exceeding HKD 100 billion annually[49]. - The company has not reported any significant new product developments or market expansions during this period[20]. - The company continues to focus on its core business of selling and renting heavy equipment and providing maintenance services in Hong Kong[20]. Corporate Governance - The board believes that Mr. Zhou serving as both Chairman and CEO aligns with the company's operational interests and provides strong leadership[76]. - There are no known conflicts of interest or competitive business interests held by directors or major shareholders during the period[78]. - The company has complied with all applicable corporate governance code provisions during the reporting period, except for the separation of the roles of Chairman and CEO[76]. Other Information - The company has not granted or agreed to grant any share options under the share option scheme since its adoption on June 30, 2017, and there are no unexercised options as of January 31, 2022[77]. - The company has not purchased, sold, or redeemed any of its listed securities during the period[79]. - The interim results and report for the period are unaudited but have been reviewed by the audit committee[85]. - No significant events occurred after the reporting period, aside from those disclosed in the financial statements[84].

Financial Performance - The company recorded a net profit attributable to shareholders of approximately HKD 52.6 million for the year ended July 31, 2021, representing an increase of about 2.5% compared to HKD 51.3 million for the previous year[22]. - Earnings per share for the year ended July 31, 2021, increased by 2.5% to HKD 0.0526, up from HKD 0.0513 in the previous year[22]. - Total revenue for the year ended July 31, 2021, was approximately HKD 485.8 million, a decrease of about HKD 143.0 million or 22.7% from approximately HKD 628.8 million for the previous year[34]. - Revenue from heavy equipment and parts sales decreased by approximately HKD 195.2 million or 43.1%, from approximately HKD 452.4 million to approximately HKD 257.2 million[35]. - Heavy equipment rental income increased by approximately HKD 46.7 million or 27.4%, from approximately HKD 170.4 million to approximately HKD 217.1 million[36]. - Revenue from maintenance and support services rose by approximately HKD 5.5 million or 91.7%, from approximately HKD 6.0 million to approximately HKD 11.5 million[37]. - The company's profit attributable to owners increased by approximately HKD 1.3 million or 2.5% to approximately HKD 52.6 million, with a net profit margin rising to 10.8% from 8.2%[49]. - Gross profit decreased from approximately HKD 107.1 million for the year ended July 31, 2020, to approximately HKD 90.6 million for the year ended July 31, 2021, a decline of about 15.4%[41]. - Other income and net gains increased from approximately HKD 3.1 million to approximately HKD 9.3 million, representing a growth of about 200.0%, mainly due to a subsidy of approximately HKD 7.1 million from the Hong Kong government's "Employment Support Scheme"[42]. Dividends - The board proposed a final dividend of HKD 0.02 per share, with a total cash dividend of HKD 0.035 per share for the year, compared to HKD 0.025 per share in the previous year[22]. - The proposed final dividend is HKD 0.02 per share, with a total cash dividend of HKD 0.035 per share for the year ended July 31, 2021, compared to HKD 0.025 per share for the previous year[52]. Market Outlook - The company remains optimistic about the heavy equipment sales and rental market in Hong Kong, driven by ongoing large-scale infrastructure projects[26]. - The government is expected to invest over HKD 100 billion annually in public works projects, which is anticipated to drive demand for heavy equipment in the coming years[31]. - The company has outlined a positive outlook for the upcoming fiscal year, projecting a revenue growth of 10% to 12% based on current market trends and customer demand[89]. Operational Strategies - The company continues to provide "one-stop service" for earthmoving equipment users and has adopted flexible fleet management strategies for its rental business[23]. - The company is adopting digitalization and automation technologies, including the ConSite® system for real-time location detection and overheating alerts for Hitachi excavators[24]. - The company has introduced hybrid hydraulic excavators and has rented out its first electric excavator in Hong Kong, showcasing its commitment to energy efficiency[26]. - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in costs through process optimization[89]. Supplier and Customer Relationships - The company has established strong relationships with suppliers such as Hitachi Construction Machinery, Bell Equipment Company, and Ammann BauAusrüstung, which will continue to provide competitive advantages in the Hong Kong market[23]. - The top five customers accounted for 44.4% of total revenue for the year ended July 31, 2021, an increase from 43.7% in the previous year, with the largest customer contributing 15.7%[104]. - The top five suppliers represented 73.4% of total procurement for the year ended July 31, 2021, up from 71.6% in the previous year, with the largest supplier accounting for 54.9%[104]. Financial Position - Revenue cost for the year ended July 31, 2021, was approximately HKD 395.2 million, a decrease of about HKD 126.5 million or 24.2% compared to HKD 521.7 million for the year ended July 31, 2020[40]. - The current ratio improved to approximately 6.1 times as of July 31, 2021, compared to 3.3 times as of July 31, 2020, primarily due to a reduction in bank borrowings by approximately HKD 42.4 million[53]. - The debt-to-equity ratio was approximately 8.9% as of July 31, 2021, down from 19.1% as of July 31, 2020[53]. Corporate Governance - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors, responsible for managing and operating the group's business[66]. - The board is committed to implementing good corporate governance to enhance shareholder value[156]. - The company has established a nomination policy to determine the skills and experience required for new directors[168]. - The board's governance functions include the development and review of corporate governance policies and practices[196]. Employee and Management - The total employee cost for the year ended July 31, 2021, was approximately HKD 116.5 million, an increase from HKD 92.6 million in the previous year[141]. - The group employed 215 full-time employees as of July 31, 2021, compared to 211 employees a year earlier[141]. - The company emphasizes the importance of training for directors, providing formal and targeted onboarding as well as ongoing training to enhance their knowledge and skills[172]. Risk Management - The company is closely monitoring the impact of the COVID-19 pandemic on its industry while implementing strategies to achieve growth[31]. - The group is exposed to foreign currency risks due to transactions, assets, and liabilities primarily denominated in HKD, JPY, EUR, and USD, with no current foreign currency hedging policy in place[62]. - The board is responsible for reviewing and monitoring compliance with legal and regulatory requirements, as well as corporate governance policies[196].