Financial Performance - Revenue for the six months ended October 31, 2024, was approximately HKD 16.3 million, a decrease of about 36.6% compared to HKD 25.7 million in the same period of 2023[12]. - Loss attributable to equity holders for the six months ended October 31, 2024, was approximately HKD 2.0 million, compared to a loss of HKD 4.3 million in the same period of 2023[13]. - Basic and diluted loss per share for the six months ended October 31, 2024, was approximately HKD 0.81 cents, compared to earnings of HKD 1.75 cents per share in the same period of 2023[13]. - The company's revenue for the six months ending October 31, 2024, decreased by approximately HKD 9.4 million or 36.6% to about HKD 16.3 million, primarily due to a reduction in site preparation and renovation works in Hong Kong[18]. - Gross profit for the same period decreased by approximately HKD 0.1 million or 20.0% to about HKD 0.4 million, while the gross profit margin increased from approximately 2.1% to 2.3% due to higher contribution from more profitable contracts[19]. - The group reported a loss attributable to equity holders of HKD (1,997,000) for the six months ended October 31, 2024, compared to a loss of HKD (4,321,000) in the same period of 2023[104]. - The company recorded a loss before tax of HKD 1,997,000, an improvement from a loss of HKD 4,321,000 in the previous year, reflecting a reduction in losses by approximately 53.8%[66]. Dividends and Share Options - The board of directors does not recommend the payment of an interim dividend for the six months ended October 31, 2024, consistent with the previous year[14]. - The group did not recommend an interim dividend for the six months ended October 31, 2024, consistent with the previous year[101]. - As of October 31, 2024, the company had a total of 45,440,000 unexercised share options remaining[60]. - The total number of share options granted to directors as of May 1, 2024, was 3,200,000, with an exercise price of HKD 0.12[56]. - The company aims to attract and retain employees through its share option plan, which has been reviewed and approved by the remuneration committee[63]. Operational Highlights - The company is actively expanding its business into other markets in the Asia-Pacific region, including Japan, Thailand, and Singapore[17]. - The company faces increasing operational costs and intense market competition but aims to enhance shareholder returns through business expansion[17]. - The company will continue to focus on site formation and renovation works in Hong Kong while strengthening its competitive advantages in the construction industry[17]. Cash Flow and Assets - As of October 31, 2024, the company's cash and bank balance was approximately HKD 6.9 million, a decrease of about HKD 3.6 million from HKD 10.5 million as of April 30, 2024[24]. - The company's cash and bank balances decreased to HKD 6,949,000 from HKD 10,487,000, indicating a cash outflow during the period[70]. - The net cash used in operating activities was HKD (6,849,000), compared to HKD (1,230,000) in the previous year, indicating increased cash outflow from operations[76]. - As of October 31, 2024, the total assets amounted to HKD 79,050,000, slightly down from HKD 80,071,000 as of April 30, 2024[70]. - The fair value of listed securities held for trading is HKD 23,977,000 as of October 31, 2024, compared to HKD 19,608,000 as of April 30, 2024[115]. Expenses and Liabilities - Administrative expenses increased by approximately HKD 3.8 million or 253.3% to about HKD 5.3 million, mainly due to higher professional fees and marketing expenses[20]. - Employee costs, including directors' remuneration, totaled HKD 1,171,000, slightly down from HKD 1,197,000 in the previous year[93]. - The group’s financing costs for the period were nil, indicating no interest expenses on other borrowings[99]. - There were no significant contingent liabilities or capital commitments as of October 31, 2024[32][31]. - The group did not adopt any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance or position[86]. Governance and Compliance - The company confirmed compliance with the corporate governance code as per GEM Listing Rules, with some deviations noted[49]. - The company’s board consists of four members, including two executive directors and two independent non-executive directors, following the resignation of Mr. Liu Hongli[50]. - The company has made efforts to fill the vacancy left by Mr. Liu's resignation within the stipulated timeframe as per GEM Listing Rules[50]. - The company’s directors and their close associates confirmed no interests in any competing businesses[47]. - No major shareholders have reported interests in the company's shares or related securities as of October 31, 2024[44]. Other Information - Other income and losses recorded a gain of approximately HKD 3.0 million, compared to a loss of about HKD 3.4 million in the previous period, attributed to fair value changes in financial assets[22]. - No significant post-reporting date events have been disclosed by the company[54]. - The group did not engage in any acquisitions or disposals of subsidiaries or associated companies during the reporting period[38]. - The average credit period granted to customers is between 21 to 60 days[108]. - The trade receivables from customer contracts amounted to HKD 40,784,000, with a credit loss provision of HKD (28,143,000), resulting in a net receivable of HKD 12,641,000[105].
泰锦控股(08321) - 2025 - 中期业绩