Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 78,794 thousand, compared to HKD 85,041 thousand for the same period in 2023, representing a decrease of approximately 7.4%[4] - Gross profit for the period was HKD 418 thousand, significantly lower than HKD 11,804 thousand in the previous year, indicating a decline of approximately 96.5%[4] - The company reported a loss attributable to owners of the company of HKD 10,661 thousand for the current period, compared to a profit of HKD 6,626 thousand in the prior period, reflecting a negative swing of approximately 261.0%[4] - Other income and gains decreased to HKD 55 thousand from HKD 6,360 thousand, a decline of approximately 99.1%[4] - For the six months ended September 30, 2024, the company reported a pre-tax loss of HKD 1,915,000, compared to a profit of HKD 42,000 for the same period in 2023[38] - The cost of goods sold recognized as expenses was HKD 49,559,000 for the six months ended September 30, 2024, compared to HKD 17,618,000 for the same period in 2023[38] - Basic and diluted earnings per share were based on a loss attributable to shareholders of HKD 10,661,000 for the period ended September 30, 2024, compared to a profit of HKD 6,626,000 for the same period in 2023[43] - The group reported a loss of approximately HKD 10.6 million for the reporting period, compared to a profit of approximately HKD 6.6 million in the same period last year[60] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 152,279 thousand, down from HKD 159,668 thousand as of March 31, 2024, a decrease of approximately 4.7%[6] - Cash and cash equivalents decreased to HKD 43,482 thousand from HKD 63,556 thousand, representing a decline of approximately 31.6%[6] - The company's total liabilities decreased to HKD 23,138 thousand from HKD 27,903 thousand, a reduction of approximately 17.3%[6] - As of September 30, 2024, the group's equity was approximately HKD 159.4 million, with no bank borrowings reported[61] - The asset-to-equity ratio was approximately 0.15% as of September 30, 2024, compared to 0.25% as of March 31, 2024[61] Revenue Breakdown - Revenue from steel and metal engineering services for the six months ended September 30, 2024, was HKD 74,016,000, an increase from HKD 64,046,000 in the same period of 2023, representing a growth of approximately 14.4%[17] - Revenue from the sale of steel and metal products for the six months ended September 30, 2024, was HKD 4,778,000, a decrease from HKD 20,995,000 in the same period of 2023, representing a decline of approximately 77.2%[17] - The group's revenue for the reporting period was approximately HKD 78.8 million, a decrease of about 7.3% from HKD 85.0 million in the same period last year[54] - Revenue from steel and metal engineering services increased by approximately HKD 10.0 million or 15.6% to about HKD 74.0 million, while revenue from steel and metal product sales decreased by approximately HKD 16.2 million or 77.1% to about HKD 4.8 million[55] Cash Flow and Investments - The group invested approximately HKD 3.5 million in capital expenditures for properties, plants, and equipment during the reporting period[65] - The company has earmarked HKD 12.5 million for general working capital purposes, with an estimated remaining balance of HKD 15.2 million[74] - The net proceeds from the placement of shares, amounting to approximately HKD 7.8 million, have been fully utilized as of September 30, 2024[78] Corporate Governance and Compliance - The company has adhered to all applicable corporate governance rules during the reporting period, except for certain deviations noted[81] - The audit committee, composed entirely of independent non-executive directors, has reviewed and approved the unaudited condensed consolidated financial statements for the reporting period[102] - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the reporting period, ensuring consistency in financial reporting[15] Employee and Operational Information - As of September 30, 2024, the group employed a total of 335 full-time employees, with 180 located in Hong Kong and the remainder in China[71] - The group’s main customers are construction companies, contractors, and engineering firms in Hong Kong, with contracts primarily being fixed-price contracts[17] Future Plans and Outlook - The company plans to allocate approximately HKD 51.2 million for machinery replacement and capacity enhancement, with an estimated completion by March 31, 2025[74] - The revised allocation for expanding the workforce in Hong Kong and China is set at HKD 33.7 million, with no changes to the previous allocation[74] - There were no significant future investment or capital asset plans disclosed by the group[64] Dividends and Shareholder Information - No interim dividend was declared for the six months ended September 30, 2024, consistent with the previous period[44] - The board does not recommend declaring an interim dividend for the reporting period[70]
恒益控股(01894) - 2025 - 中期业绩