Financial Performance - For the six months ended April 30, 2024, the company reported revenue of HKD 51,389,000, an increase of approximately 14% compared to HKD 45,143,000 for the same period in 2023[7] - The company's gross profit for the same period was HKD 19,007,000, up from HKD 16,686,000 in the previous year[7] - The net profit attributable to the owners of the company for the six months ended April 30, 2024, was HKD 2,010,000, which is comparable to HKD 2,004,000 for the same period in 2023[7] - Basic earnings per share for the current period remained stable at approximately HKD 0.31, consistent with the previous year's figure[7] - The company reported a comprehensive income of HKD 3,990,000 for the six months ended April 30, 2024, compared to HKD 13,363,000 for the same period in 2023, indicating a decrease of approximately 70%[16] - The cash flow from operating activities for the six months ended April 30, 2024, was HKD 41,064,000, compared to HKD 36,476,000 for the same period in 2023, showing an increase of about 12.5%[14] Expenses and Costs - The company incurred selling expenses of HKD 1,483,000, slightly higher than HKD 1,460,000 in the prior year[7] - Administrative expenses increased to HKD 13,132,000 from HKD 12,837,000 year-over-year[7] - Other operating expenses primarily included employee costs, director remuneration, and short-term lease expenses[26] - Employee costs for the six months ended April 30, 2024, amounted to HKD 2,696,000, compared to HKD 2,537,000 for the same period last year[51] - The total employee cost for the six months ending April 30, 2024, is approximately HKD 8,900,000, compared to HKD 8,300,000 for the same period in 2023[69] Assets and Liabilities - Non-current assets decreased from HKD 66,634 thousand in 2023 to HKD 65,184 thousand in 2024, a decline of approximately 2.2%[11] - Current assets increased from HKD 93,543 thousand in 2023 to HKD 95,923 thousand in 2024, an increase of about 2.5%[11] - Total assets decreased from HKD 120,837 thousand in 2023 to HKD 123,876 thousand in 2024, reflecting a decrease of approximately 2.5%[11] - Current liabilities decreased from HKD 49,702 thousand in 2023 to HKD 46,381 thousand in 2024, a reduction of about 6.5%[11] - Total liabilities decreased from HKD 49,702 thousand in 2023 to HKD 46,381 thousand in 2024, indicating a decrease of approximately 6.5%[11] - Net current assets increased from HKD 43,841 thousand in 2023 to HKD 49,542 thousand in 2024, an increase of about 12.9%[11] - The company reported a cash and cash equivalents balance of HKD 41,485 thousand in 2023, which decreased to HKD 36,476 thousand in 2024, a decline of approximately 12.0%[11] - The company's total equity increased from HKD 43,841 thousand in 2023 to HKD 49,542 thousand in 2024, reflecting an increase of about 12.9%[11] - The company reported a net asset value of HKD 111,551,000 as of April 30, 2024, compared to HKD 107,561,000 as of April 30, 2023, reflecting an increase of approximately 3.7%[12] Segment Performance - The sales of environmental products generated a profit of HKD 6,719,000 for the six months ended April 30, 2024, compared to HKD 10,805,000 for the same period in 2023, indicating a decrease of about 37.5%[24] - The water supply segment reported revenue of HKD 21,869,000 for the six months ended April 30, 2024, up from HKD 20,002,000 in the previous year, reflecting an increase of approximately 9.3%[23] - Environmental products business accounted for 57% of total revenue, while water supply business accounted for 43% as of April 30, 2024[54] - Revenue from environmental products increased by 17% to HKD 29,520,000, while water supply revenue rose by 9% to HKD 21,869,000[54] Corporate Governance and Compliance - The company has adhered to the GEM Listing Rules regarding corporate governance, with one exception related to the attendance of independent non-executive directors at the annual general meeting[77] - The company has established a Remuneration Committee to review and recommend the remuneration policies for directors and senior management[79] - The Audit Committee has reviewed the unaudited financial results for the six months ending April 30, 2024, and believes they comply with applicable accounting standards and regulations[85] - The company has established an Environment, Social, and Governance Committee to provide advice on managing related matters[82] - The company has a Nomination Committee responsible for formulating nomination policies and making recommendations regarding the appointment of directors[81] Future Outlook and Strategy - The company continues to focus on market expansion and product development strategies to drive future growth[7] - The company plans to continue focusing on operational efficiency and cost management strategies to enhance profitability in the upcoming quarters[27] - The group is cautiously optimistic about the potential development of energy-saving hydraulic technology in the Chinese industrial market[55] - The Tianjin water plant is equipped with advanced facilities to ensure water quality and is expected to benefit from the completion of new rail connections[58] Risk Management - The company has adopted a conservative financial policy, continuously assessing customer creditworthiness to mitigate credit risk[66] - The company monitors foreign exchange risks related to purchases in JPY, GBP, EUR, and USD, while sales are primarily in RMB and HKD[67] - The company has maintained a close watch on its liquidity position to ensure it can meet financial obligations[66] Shareholder Information - Major shareholders hold 53.06% of the company's ordinary shares as of April 30, 2024[74] - The company has not repurchased or sold any of its listed securities as of April 30, 2024[75] - Jiang Lili indirectly holds 344,621,200 shares through the Jiang Lili Family Trust, which is considered to have an interest in these shares[75]
环康集团(08169) - 2024 - 中期业绩