Business Operations - The Group specializes in passive fire protection works, with over 20 years of experience in the industry, focusing on the design, selection, procurement, and installation of fire protection materials [16]. - There has been no significant change in the business operations of the Group during the reporting period [17]. - The Group operates through its principal subsidiaries, Easy Smart Engineering Limited and Easy Smart Maintenance Engineering Limited, to deliver its services [16]. - The Group's operations are primarily based in Hong Kong, catering to the local market's passive fire protection needs [16]. - The Group's principal activities include the provision of passive fire protection works and information services, with all revenue generated in Hong Kong [90][99]. Financial Performance - The Group's revenue increased from approximately HK$176.9 million to approximately HK$183.2 million, representing an increase of approximately 3.6% [24]. - The increase in revenue was primarily driven by sizeable public sector projects, including a passenger terminal at an airport and a sports park at Kai Tak [25]. - The Group's costs of services rose from approximately HK$138.2 million to approximately HK$169.1 million, an increase of approximately 18.3% [29]. - Gross profit decreased from approximately HK$38.7 million to approximately HK$14.1 million, representing a decrease of approximately 174.5% [30]. - Profit before taxation decreased by approximately 92.0% from approximately HK$30.0 million to approximately HK$2.4 million [38]. - Total comprehensive income decreased from approximately HK$24.7 million to approximately HK$2.2 million, a decrease of approximately HK$22.5 million [40]. - The company reported a profit of HK$2,235,000 for the six months ended December 31, 2024, down from HK$24,675,000 for the same period in 2023, indicating a decline of approximately 91% [72]. - The Group's income tax expenses for the six months ended December 31, 2024 were HK$173,000, a significant decrease from HK$5,287,000 in the same period of 2023 [105]. Cash Flow and Assets - As of December 31, 2024, the Group had total bank balances and cash of approximately HK$22.5 million, down from approximately HK$158.0 million [46]. - Net cash used in operating activities was HK$65,842,000 for the six months ended December 31, 2024, compared to HK$13,845,000 for the same period in 2023, indicating a significant increase in cash outflow [74]. - Total assets less current liabilities decreased to HK$225,460,000 from HK$294,107,000 as of June 30, 2024, representing a decline of approximately 23.3% [69]. - Net current assets decreased to HK$216,976,000 from HK$284,818,000, a reduction of about 23.8% [69]. - Cash and cash equivalents at the end of the period were HK$22,523,000, down from HK$158,011,000 at the beginning of the period, reflecting a decrease of about 85.8% [76]. Shareholder Information - As of December 31, 2024, Mr. Ng Wing Woon Dave holds 306,000,000 shares, representing a 75% interest in the company through Lofty Profit Investments Limited [140]. - Ms. Wong Kwai Ying, as the spouse of Mr. Ng, is also deemed to have an interest in the same 306,000,000 shares, equating to a 75% shareholding [146]. - Lofty Profit Investments Limited is the beneficial owner of 306,000,000 shares, which constitutes 75% of the company's total shareholding [146]. - The company is not aware of any substantial shareholders with interests of 5% or more in the nominal value of any class of share capital as of the reporting date [144]. Corporate Governance - The Company has complied with the Corporate Governance Code and maintains a high standard of corporate governance to safeguard shareholder interests and enhance corporate value [166][167]. - The roles of Chairman and Chief Executive Officer are held by Mr. Ng Wing Woon Dave, which the Board believes provides strong leadership despite not separating these roles as per CG Code C.2.1 [168]. - The Company has adopted the Model Code for Directors' securities transactions, with all Directors confirming compliance during the Period [170]. - The Company established an Audit Committee on April 12, 2023, consisting of three independent non-executive Directors, with Mr. Lo Chi Wang as the chairperson [179]. Employee Information - The total staff cost incurred by the company for the period was approximately HK$10.9 million, an increase of 19.8% from HK$9.1 million for the corresponding period [62]. - As of December 31, 2024, the company employed a total of 66 full-time employees, up from 62 employees as of December 31, 2023 [62][65]. - Short-term employee benefits for the six months ended December 31, 2024, increased to HK$1,577,000 from HK$1,490,000 for the same period in 2023, representing a growth of approximately 5.8% [132]. Dividends and Share Options - A final dividend of HK$0.172 per ordinary share was declared, amounting to a total of HK$70,176,000, compared to no dividends declared in 2023 [110]. - The Company adopted a Share Option Scheme on April 12, 2023, to motivate employees and attract talent, allowing for options not exceeding 10% of issued shares without shareholder approval [159]. - No share options have been granted, exercised, canceled, or lapsed since the adoption of the Share Option Scheme, with a total of 40,800,000 shares available for issue, representing 10% of the entire issued share capital [163].

Financial Performance - The Group's revenue increased by approximately HK$16.4 million or approximately 4.9%, from approximately HK$337 million for the year ended June 30, 2023, to approximately HK$353 million for the year ended June 30, 2024[5]. - The net profit for the year amounted to approximately HK$35.8 million, representing a decrease of approximately 18.3% compared to the net profit of approximately HK$43.8 million for the previous year[5]. - The increase in net profit was primarily attributed to rising costs of sales and administrative expenses[5]. - The gross profit decreased by approximately 20.0% to HK$63.6 million for the year, down from HK$79.5 million in the previous year, primarily due to increased costs of services[26]. - The gross profit margin fell from approximately 23.6% in the previous year to approximately 18.0% for the year, attributed to higher sub-contractor fees and construction material costs[26]. - Profit before taxation decreased approximately 21.2% to HK$43.0 million for the year, down from HK$54.6 million in the previous year[27]. - Total comprehensive income for the year decreased by approximately 18.3% to HK$35.8 million, down from HK$43.8 million in the previous year[29]. - Other income increased by approximately 50.0% to HK$2.4 million, primarily due to higher interest income[26]. Operational Challenges - The Group is facing increasing operational costs, particularly in direct labor and subcontracting charges, alongside intensified price competition[6]. - The economic outlook for the Hong Kong construction industry has become uncertain, with fewer projects being launched and increased price sensitivity among customers[20]. - The Group's financial performance may be adversely impacted by the inability to secure new contracts or a significant decrease in available tender invitations[125]. - The actual time and costs incurred during project implementation may exceed initial estimates, particularly due to customer-requested variations and unforeseen site conditions[128]. Dividend and Shareholder Returns - The Board of Directors has recommended a final cash dividend of HK$0.172 per ordinary share for the year, compared to nil for the previous year[12]. - The final dividend is subject to approval at the Annual General Meeting scheduled for November 11, 2024, and is expected to be paid on or before December 5, 2024[12]. - The Company has adopted a dividend policy aimed at achieving a balance between dividend amounts, profits, and retained capital for business purposes[123]. Financial Position - The Group has no outstanding debt as of June 30, 2024, indicating a steady financial position[7]. - The current ratio improved to 12.5 times as of June 30, 2024, compared to 10.7 times as of June 30, 2023[30]. - Total bank balances and cash as at 30 June 2024 were approximately HK$158.0 million, up from approximately HK$128.5 million as at 30 June 2023[36]. - The Group's reserves available for distribution amounted to approximately HK$288.6 million, an increase from approximately HK$252.8 million in 2023[132]. Management and Governance - The Board consists of five directors, including two executive directors and three independent non-executive directors, ensuring a balanced skill set suitable for the company's business needs[56]. - The Board has established three committees: Audit Committee, Nomination Committee, and Remuneration Committee, to oversee specific aspects of the company's affairs[62]. - The Company has adopted a Board Diversity Policy on April 12, 2023, to enhance the effectiveness of the Board through diversity considerations[68]. - The Nomination Committee will review the Board Diversity Policy annually to ensure its continued effectiveness[69]. Risk Management and Compliance - The Board is responsible for maintaining effective risk management and internal control systems to safeguard the Group's assets and investments[92]. - The Group has engaged BT Corporate Governance Limited as an independent consultant to review the effectiveness of its risk management and internal control system until June 30, 2024[94]. - The Group's connected transactions comply with the Listing Rules under Chapter 14A[173]. Employee and Management Changes - The company has seen significant management changes, with key promotions indicating a focus on strengthening financial and project management capabilities[117][118]. - The management team collectively brings a wealth of experience from various reputable firms, enhancing the company's strategic direction[118][119]. - The Group recognizes employees as valuable assets and provides a comprehensive remuneration package, including salary and discretionary bonuses, to attract and retain talent[156]. Market and Customer Relations - Revenue from public sector projects increased significantly due to sizeable projects, including a passenger terminal at an airport and a sports park at Kai Tak[22]. - Revenue from private sector projects dropped from approximately HK$193.7 million to approximately HK$54.5 million, representing a decrease of 71.9%[22]. - The Group aims to reduce reliance on major customers by undertaking more sizable projects for other customers, maintaining a sustainable business model despite customer concentration risks[157]. Future Outlook - The Group maintains a cautiously optimistic outlook for its business in the medium to long term, focusing on specialized passive fire protection services and exploring prefabrication opportunities[6]. - The Group's extensive experience and strong relationships with suppliers and customers position it well for future opportunities[20].

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 何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 Easy Smart Group Holdings Limited 怡俊集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2442） 截至二零二四年六月三十日止年度 全年業績公告 | --- | --- | |-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The unaudited condensed consolidated financial results for the six months ended December 31, 2023, were presented, showing a comparison with the corresponding period in 2022[11] - The Group's revenue increased from approximately HK$172.8 million for the six months ended December 31, 2022, to approximately HK$176.9 million for the six months ended December 31, 2023, representing an increase of approximately 2.4%[17] - The profit and total comprehensive income increased from approximately HK$24.0 million for the six months ended 31 December 2022 to approximately HK$24.7 million for the six months ended 31 December 2023, representing an increase of approximately 2.9%[22] - Profit before taxation decreased by approximately 1.0% from approximately HK$30.3 million for the six months ended 31 December 2022 to approximately HK$30.0 million for the six months ended 31 December 2023[22] - The Group's gross profit decreased from approximately HK$41.9 million for the six months ended 31 December 2022 to approximately HK$38.7 million for the six months ended 31 December 2023, representing a decrease of approximately 7.6%[20] - The gross profit margin decreased from approximately 24.2% for the six months ended 31 December 2022 to approximately 21.9% for the six months ended 31 December 2023[20] Revenue Sources - The revenue growth was primarily driven by sizeable public sector projects, including a public infrastructure project involving a passenger terminal at an airport in Hong Kong and a sports park at Kai Tak[17] - The Group's revenue from passive fire protection works for the six months ended December 31, 2023, was HK$176,812,000, representing an increase from HK$172,674,000 for the same period in 2022, reflecting a growth of approximately 2.6%[77] - Revenue from passive fire protection information services for the six months ended December 31, 2023, was HK$105,000, compared to HK$170,000 for the same period in 2022, indicating a significant decline[77] - The Group's total revenue for the six months ended December 31, 2023, was HK$176,917,000, compared to HK$172,844,000 for the same period in 2022, showing an overall increase of approximately 2.4%[77] Market Outlook - The passive fire protection works industry in Hong Kong is expected to reach a market size of approximately HK$1,247.4 million by 2026, with a compound annual growth rate of approximately 6.1% from 2022 to 2026[16] - The total number of construction and development projects in the passive fire protection works market in Hong Kong is expected to increase, supported by a stable pipeline of projects in residential, commercial, and industrial sectors[16] - The company aims to expand its market presence in the passive fire protection sector[11] Operational Highlights - The company focuses on passive fire protection works, which include design, supply, installation, maintenance, alteration, and addition of fire protection materials[11] - Major objectives of passive fire protection include fireproofing, compartmentation, and firestopping, aimed at preventing fire development and spread[11] - The company emphasizes the use of chemical materials for fireproofing, such as intumescent paint, to enhance fire resistance[11] - Compartmentation strategies involve the strategic placement of fire-rated doors and barriers to inhibit the passage of flame and smoke[11] - Firestopping practices include filling cavities between building partitions and structures to prevent fire spread[11] Financial Position - As of 31 December 2023, the Group had total bank balances and cash of approximately HK$113.4 million[25] - As of December 31, 2023, total assets amounted to HK$294,087,000, an increase of 6.3% from HK$277,292,000 as of June 30, 2023[44] - Total equity increased to HK$281,558,000, up 9.6% from HK$256,883,000 as of June 30, 2023[46] - The company reported a net cash used in operating activities of HK$13,845,000 for the six months ended December 31, 2023, compared to a net cash generated of HK$8,951,000 for the same period in 2022[54] Shareholder Information - The Group's shares were listed on the Main Board of the Stock Exchange on May 9, 2023, with 102,000,000 new shares issued at an offer price of HK$1.28 per share[14] - The net proceeds from the listing amount to approximately HK$89.1 million as of December 31, 2023[35] - As of 31 December 2023, Mr. Ng Wing Woon Dave holds 306,000,000 shares, representing a 75% shareholding in the Company through Lofty Profit Investments Limited[122] Corporate Governance - The Company has complied with the Corporate Governance Code for the six months ended December 31, 2023[135] - The roles of Chairman and Chief Executive Officer are held by Mr. Ng Wing Woon Dave, which the Board believes is beneficial for business operations[135] - The Company has three independent non-executive Directors, ensuring a balance of power and authority on the Board[135] Employee Information - The company employed a total of 62 full-time employees as of December 31, 2023, compared to 50 employees a year earlier, marking a 24% increase[40] - The total staff cost incurred for the six months ended December 31, 2023, was approximately HK$9.1 million, an increase from HK$7.6 million in the corresponding period of 2022, reflecting a rise of 19.7%[40] Related Party Transactions - Related party transactions included purchases of direct materials totaling HK$450,000 from Warwick Building Material Limited and HK$136,000 from Goldin Innovation Development Company Limited during the six months ended December 31, 2023[116]

Financial Performance - The group's revenue for the six months ended December 31, 2023, was approximately HKD 176.9 million, compared to HKD 172.8 million for the same period in 2022, representing a growth of 1.3%[3] - The gross profit margin for the six months ended December 31, 2023, was approximately 21.9%, down from 24.2% in 2022[3] - The group's profit before tax for the six months ended December 31, 2023, was approximately HKD 30.0 million, slightly decreasing from HKD 30.3 million in 2022[3] - The net profit for the six months ended December 31, 2023, was approximately HKD 24.7 million, compared to HKD 24.0 million in 2022, indicating an increase of 2.9%[3] - Basic earnings per share for the six months ended December 31, 2023, were approximately HKD 0.0605, down from HKD 0.0783 in 2022, reflecting a decrease of 22.5%[3] - Total revenue for the group for the six months ended December 31, 2023, was HKD 176,917,000, compared to HKD 172,844,000 for the same period in 2022, reflecting a slight increase of 2.0%[18] - Profit before tax for the six months ended December 31, 2023, was HKD 24,675,000, up from HKD 23,956,000 in the same period of 2022[24] - Total comprehensive income increased from approximately HKD 24.0 million to approximately HKD 24.7 million, representing a growth of about 2.9%[47] Dividends and Shareholder Returns - The board of directors did not recommend the payment of an interim dividend for the six months ended December 31, 2023, consistent with the previous year[3] - The company does not plan to pay an interim dividend for the six months ended December 31, 2023, compared to zero in 2022[60] - The group did not declare or pay any dividends during the reporting periods[25] Assets and Liabilities - Total assets less current liabilities as of December 31, 2023, amounted to HKD 281.7 million, an increase from HKD 256.9 million as of June 30, 2023[7] - The group's total equity as of December 31, 2023, was approximately HKD 281.6 million, up from HKD 256.9 million as of June 30, 2023[8] - The group's cash and cash equivalents as of December 31, 2023, were approximately HKD 113.4 million, down from HKD 128.5 million as of June 30, 2023[7] - Trade payables decreased to HKD 5,338,000 as of December 31, 2023, from HKD 8,366,000 as of June 30, 2023[30] Revenue Breakdown - Revenue from passive fire engineering for the six months ended December 31, 2023, was HKD 176,812,000, a 2.6% increase from HKD 172,674,000 in the same period of 2022[18] - Revenue from passive fire information services decreased to HKD 105,000 from HKD 170,000 year-on-year[18] Costs and Expenses - Service costs rose from approximately HKD 131.0 million to approximately HKD 138.2 million, an increase of about 5.5%, attributed to rising raw material costs and subcontracting fees[40] - Gross profit decreased from approximately HKD 41.9 million to approximately HKD 38.7 million, a decline of about 7.6%, primarily due to increased service costs[41] - Administrative expenses rose from approximately HKD 5.7 million to approximately HKD 9.1 million, an increase of about 59.6%, due to higher employee and professional costs[44] - Income tax expense decreased from approximately HKD 6.4 million to approximately HKD 5.3 million, due to the absence of non-deductible listing expenses in the latter period[46] Employee and Operational Metrics - The total employee costs incurred by the group for the six months ended December 31, 2023, were approximately HKD 9.1 million, an increase from approximately HKD 7.6 million for the corresponding period in 2022[59] - The company employed 62 full-time employees as of December 31, 2023, up from 50 full-time employees as of December 31, 2022[59] Corporate Governance and Compliance - The audit committee, established on April 12, 2023, consists of three independent non-executive directors and has reviewed the interim financial results for the six months ending December 31, 2023[78] - The interim financial results for the six months ending December 31, 2023, have been approved by the audit committee and are in compliance with applicable accounting standards and regulations[78] - The company has complied with the corporate governance code as per the listing rules during the reporting period[68] Future Outlook and Plans - The passive fire protection engineering market in Hong Kong is expected to reach approximately HKD 1,247.4 million by 2026, with a compound annual growth rate of about 6.1% from 2022 to 2026[36] - The company plans to upgrade its IT systems, with expected delays in completion and delivery of hardware components[58] Miscellaneous - The company has no major capital commitments or contingent liabilities as of December 31, 2023[51] - There were no significant investments, acquisitions, or disposals of subsidiaries and associates during the six months ended December 31, 2023[52] - The company has not entered into any derivative contracts to hedge foreign exchange risks, as all revenues and transactions are settled in HKD[50] - The company has maintained the minimum public float required by the listing rules as of the announcement date[77] - There were no purchases, sales, or redemptions of the company's listed securities during the six months ending December 31, 2023[76] - The company expresses gratitude to the management team, employees, shareholders, investors, and business partners for their support and contributions[81] - The interim report for the six months ending December 31, 2023, will be sent to shareholders and made available on the company's and the stock exchange's websites[80]

Revenue and Financial Performance - The Group's total revenue for the year ended June 30, 2023, was approximately HK$336.5 million, representing an increase of approximately 39.9% compared to HK$240.5 million for the year ended June 30, 2022[30]. - Total revenue for the year ended June 30, 2023, was approximately HK$336.2 million, representing an increase from HK$240.1 million for the year ended June 30, 2022, which is a growth of approximately 40.0%[34]. - Profit attributable to owners of the Company before listing expenses was approximately HK$55.6 million, while after accounting for these expenses, the profit was approximately HK$43.8 million[24]. - The profit and total comprehensive income increased from approximately HK$28.8 million in 2022 to approximately HK$43.8 million in 2023, representing an increase of approximately 52.0%[43]. - Profit before taxation rose approximately 46.5% from HK$37.3 million in 2022 to HK$54.6 million in 2023[41]. - Gross profit increased from approximately HK$61.9 million in 2022 to approximately HK$79.5 million in 2023, reflecting an increase of approximately 28.4%[37]. - Other income surged from approximately HK$0.5 million in 2022 to approximately HK$1.59 million in 2023, marking an increase of approximately 210.8%[37]. - The Group's net profit margin increased from approximately 12.0% for the year ended June 30, 2022, to approximately 13.0% for the year ended June 30, 2023[101]. Customer Concentration and Risks - The Group's revenue for the year ended 30 June 2023 was significantly concentrated, with the largest customer accounting for approximately 32.9% of total revenue, while the five largest customers collectively accounted for about 82.1%[2]. - The Group identified key risks, including customer concentration, which poses a risk to its revenue stability[2]. - The Group's financial condition and operational results may be adversely affected if it fails to secure new contracts or if there is a significant decrease in available projects for bidding in the future[3]. Corporate Governance and Board Structure - The Board consists of five directors, including two executive directors and three independent non-executive directors, ensuring a balance of skills and experience[116]. - The independent non-executive directors represent more than half of the board, exceeding the requirement of at least one-third as per the Listing Rules[118]. - The company has adopted a Board Diversity Policy and will set measurable objectives to implement it[125]. - The Nomination Committee will regularly review the structure, size, and composition of the Board to ensure a balance of expertise and diversity[133]. - The company has a Nomination Policy that aims to ensure a balance of skills, experience, and diversity of perspectives on the Board[157]. - The presence of three independent non-executive directors ensures a balance of power and authority within the Board[153]. Dividend Policy - The Board did not recommend the payment of a final dividend for the year ended 30 June 2023, consistent with the previous year where no dividend was paid[2]. - The Company established a Dividend Policy on April 12, 2023, to balance sufficient capital for business development and rewarding shareholders[164]. - The Board will consider factors such as operating results, profitability, and working capital requirements when proposing dividends[164]. - The Group's liquidity position and future expansion plans will be considered in dividend decisions[164]. Operational Highlights and Future Outlook - The Group's business is primarily derived from recurrent projects, which may lead to variability in revenue and difficulty in forecasting future business volumes[3]. - The company is optimistic about securing new opportunities in the passive fire protection industry due to its long experience and strong relationships with suppliers and customers[18]. - The passive fire protection works industry in Hong Kong is expected to grow at a compound annual growth rate of approximately 6.1%, reaching a market size of approximately HK$1,247.4 million by 2026[18]. - The demand for installation and renovation of passive fire protection systems is driven by sustainable development in the construction industry and strict fire safety requirements[58]. - The Group's experience in the industry and familiarity with various passive fire protection materials position it favorably for future opportunities[58]. Financial Position and Cash Flow - As of June 30, 2023, the company's distributable reserves available for distribution to shareholders are approximately HK$83.4 million, compared to nil in 2022[6]. - The current ratio improved from 4.6 times in 2022 to 10.7 times in 2023[40]. - The Group's bank balances and cash amounted to approximately HK$128.5 million and approximately HK$1.03 million as of June 30, 2023, compared to approximately HK$35.1 million and zero as of June 30, 2022[78]. - The net proceeds from the Listing amounted to approximately HK$89.1 million, which will be applied in accordance with the disclosure in the Prospectus[80]. Challenges and Market Conditions - The Group faces challenges such as labor shortages and rising operational costs in Hong Kong, impacting future project acquisition and tender success rates[24]. - The group had 61 contracts on hand as of June 30, 2023, with a total original contract value of approximately HK$375.2 million, down from HK$411.8 million in 2022[17]. - The number of construction and development projects available for bidding in the Hong Kong passive fire protection market is expected to increase[58]. Management and Workforce - The Group's management team has shown dedication and commitment to achieving growth in a demanding year[13]. - The total staff cost incurred by the Group for the year ended June 30, 2023, was approximately HK$20.1 million, compared to approximately HK$17.3 million for the year ended June 30, 2022[85]. - As of June 30, 2023, 16.7% of the Directors and approximately 31.1% of the total workforce were females, reflecting the company's commitment to gender diversity[126].

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 何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 Easy Smart Group Holdings Limited 怡俊集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2442） 截至二零二三年六月三十日止年度 全年業績公告 財務摘要 • 本集團於截至二零二三年六月三十日止年度的收益約為336.5百萬港元（二 零二二年：約240.5百萬港元）。 • 本集團於截至二零二三年六月三十日止年度的毛利率約為23.6%（二零二二 年：約25.7%）。 • 本集團於截至二零二三年六月三十日止年度的除稅前溢利約為54.6百萬港 元（二零二二年：約37.3百萬港元）。 • 本集團於截至二零二三年六月三十日止年度的溢利約為43.8百萬港元（二 零二二年：約28.8百萬港元）。 • 每股基本盈利約為13.67港仙（二零二二年：約9.40港仙）。 ...