Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 163,698,000, representing a 49.7% increase from HKD 109,306,000 in the same period of 2020[11] - Gross profit for the same period was HKD 12,619,000, up from HKD 5,924,000, indicating a significant improvement in profitability[11] - The company reported a profit before tax of HKD 2,037,000, compared to HKD 344,000 in the previous year, reflecting a substantial increase[11] - Net profit attributable to owners for the period was HKD 1,497,000, compared to HKD 340,000 in the prior year, marking a notable growth[11] - Basic and diluted earnings per share increased to HKD 0.19 from HKD 0.04, showcasing improved earnings performance[11] - Other income for the six months ended September 30, 2021, was HKD 2,537,000, a decrease from HKD 7,211,000 in 2020, representing a decline of approximately 64.8%[31] - Revenue from major customers contributing over 10% of total revenue was HKD 1 from Customer A in 2021, down from HKD 35,710,000 in 2020, indicating a significant loss of business from this customer[30] - Total employee costs for the six months ended September 30, 2021, amounted to HKD 30,448,000, up from HKD 28,648,000 in the previous year, indicating a year-over-year increase of approximately 6.3%[38] - The company reported a total tax expense of HKD 540,000 for the six months ended September 30, 2021, significantly higher than HKD 4,000 in the same period of 2020[40] Assets and Liabilities - Total assets as of September 30, 2021, were HKD 170,015,000, up from HKD 149,483,000 as of March 31, 2021[13] - The company's net asset value increased to HKD 106,089,000 from HKD 104,592,000, indicating a positive trend in equity[13] - Trade receivables and contract assets increased to HKD 35,721,000, reflecting growth in operational activities[13] - As of September 30, 2021, the company had bank borrowings of HKD 29,583,000, a decrease from HKD 40,400,000 as of March 31, 2021, indicating a reduction of approximately 26.8%[56] - The total amount of other payables and accrued expenses as of September 30, 2021, was HKD 23,807,000, compared to HKD 19,887,000 as of March 31, 2021, reflecting an increase of about 19.4%[56] - Total debt increased to approximately HKD 121.9 million as of September 30, 2021, from HKD 103.2 million as of March 31, 2021[76] Cash Flow - Net cash generated from operating activities for the six months ended September 30, 2021, was HKD 13,260,000, a significant increase from HKD 5,881,000 in 2020, representing a growth of approximately 125.4%[18] - The net cash used in investing activities was HKD 6,221,000 for the six months ended September 30, 2021, compared to HKD 6,100,000 in 2020, indicating a slight increase of 2%[18] - The net cash used in financing activities was HKD 12,518,000 for the six months ended September 30, 2021, compared to HKD 1,268,000 in 2020, reflecting a substantial increase of approximately 887%[18] - The total cash and cash equivalents decreased by HKD 5,479,000 for the six months ended September 30, 2021, compared to a decrease of HKD 1,487,000 in 2020, indicating a worsening liquidity position[18] - The cash and cash equivalents at the end of the period were HKD 5,179,000, up from HKD 3,750,000 in 2020, showing an increase of approximately 38.1%[18] Operational Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[11] - The company plans to maintain prudent financial management in project selection and cost control amid ongoing challenges in the industry due to COVID-19[67] - The company aims to enhance its financial resources and continue bidding for suitable projects in the private sector[67] - The group continues to manage its cash reserves prudently to ensure the ability to capitalize on future growth opportunities[83] Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance shareholder value and protect stakeholder interests[111] - The company has adopted a standard code of conduct for directors' securities transactions, which all directors complied with during the reporting period[106] - The company has established a non-competition agreement with its controlling shareholders to prevent any potential competition[103] - The company has not engaged in any competitive business activities that may conflict with its existing operations during the reporting period[102] Employment and Human Resources - The group employed 154 full-time employees in Hong Kong as of September 30, 2021, an increase from 119 employees as of March 31, 2021[88] - The company adopted a share option scheme to provide additional incentives to employees, directors, and other stakeholders, which will remain effective for 10 years[107] - No share options were granted, exercised, expired, or lapsed during the six months ending September 30, 2021, and there are no unexercised options under the scheme[110] Events and Announcements - Independent non-executive director Mr. Zhuang resigned from the board of Base Jinbiao Group Holdings Limited effective August 31, 2021[115] - The interim results announcement and interim report will be published on the Hong Kong Stock Exchange website and the company's website[118] - The interim report for the six months ending September 30, 2021, will be sent to shareholders[118] - No significant events affecting the group have occurred since September 30, 2021, up to the date of this report[114]
凌锐控股(00784) - 2022 - 中期财报