Financial Performance - For the six months ended September 30, 2022, the Group's total revenue decreased by 9.6% to approximately HK$131,550,000 from approximately HK$145,531,000 in the corresponding period last year [12]. - The Group's gross profit increased by approximately 42.3% to approximately HK$44,990,000, with a gross profit margin increase of approximately 12.5 percentage points to 34.2% [14]. - The Group's profit attributable to owners increased by approximately 38.8%, from approximately HK$13,033,000 for the corresponding period last year to approximately HK$18,084,000 for the Period [24]. - Basic earnings per share attributable to owners increased from approximately HK1.30 cents for the corresponding period last year to approximately HK1.81 cents for the Period [24]. - Total comprehensive income for the period was HK$20,998,000, an increase of 28.5% from HK$16,405,000 in the same period last year [96]. - Profit before taxation for the period was HK$24,851,000, up 33.4% from HK$18,618,000 in the prior year [96]. - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the latest quarter [39]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12% [39]. Revenue Sources - For the six months ended September 30, 2022, total revenue was HK$131,550,000, with vessel chartering and related services contributing HK$118,600,000 and ship management services contributing HK$12,950,000 [130]. - Revenue from vessel chartering and related services for the six months ended 30 September 2022 was HK$118,600,000, a decrease of 9.5% from HK$132,598,000 in 2021 [141]. - Revenue from ship management services for the same period was HK$12,950,000, slightly increased from HK$12,933,000 in 2021 [141]. Expenses and Costs - The Group's cost of revenue decreased by approximately 24.0% to approximately HK$86,560,000 from approximately HK$113,924,000 in the previous year, mainly due to reduced vessel chartering expenses [13]. - Administrative expenses increased by approximately 22.8% to approximately HK$21,180,000, primarily due to higher staff costs and business development expenses [20]. - Finance costs increased from approximately HK$35,000 to approximately HK$50,000, attributed to the recognition of lease liability interest [20]. - The company aims to reduce operational costs by 15% through improved logistics and supply chain management [39]. Assets and Liabilities - The Group's trade and other receivables decreased from approximately HK$133,861,000 as at 31 March 2022 to approximately HK$52,519,000 as at 30 September 2022 [26]. - The Group's trade receivables turnover days increased from approximately 103.2 days for the year ended 31 March 2022 to approximately 129.6 days for the Period [26]. - As at 30 September 2022, the Group had net current assets of approximately HK$144,113,000, with a current ratio increase from approximately 3.66 to approximately 3.81 [26]. - The Group's gearing ratio was nil as at 30 September 2022, indicating no non-trade debts [26]. - Current assets decreased to HK$195,421,000 from HK$215,437,000, a decline of 9.3% [98]. - Total equity attributable to owners of the Company was HK$233,461,000, slightly down from HK$235,377,000, a decrease of 0.8% [101]. Shareholder Information - As of September 30, 2022, Mr. Wen Tsz Kit Bondy and Ms. Chan Sau Ling Amy each hold a 55.89% shareholding interest in the Company through Kitling (BVI), which owns 558,858,750 shares [53][56][59]. - The entire issued share capital of Kitling (BVI) is owned 70% by Mr. Wen and 30% by Ms. Chan, making them both deemed interested in the shares held by Kitling (BVI) [56][59]. - The Company has adopted a Share Option Scheme to motivate and retain eligible participants, which includes employees, directors, and other contributors to the Group [63][64]. Corporate Governance - The Company is committed to high corporate governance standards and has complied with the Corporate Governance Code during the six months ended September 30, 2022, except for the separation of roles of chairman and CEO [84]. - The Board currently consists of two executive Directors and three independent non-executive Directors, ensuring a strong element of independence [84]. Future Outlook and Investments - The Group expects steady demand for vessel chartering services due to ongoing marine infrastructure projects in Hong Kong, which are anticipated to contribute to future revenue [9]. - The Group plans to continue investing in its vessel fleet to capture business opportunities arising from these projects [9]. - The planned use of the remaining net proceeds includes setting up a shipyard in Hong Kong, with an expected expenditure of HK$22 million in 2023 [78]. Dividends - The Board does not recommend the payment of interim dividend for the Period [26]. - Dividends paid during the period amounted to HK$20,000,000, up from HK$13,000,000 in the same period last year, marking a 54% increase [112]. - The final dividend declared and paid during the interim period amounted to HK$20,000,000, compared to HK$13,000,000 in the previous year, reflecting a 53.8% increase [154].
润利海事(02682) - 2023 - 中期财报