Financial Performance - For the six months ended September 30, 2021, the Group recorded unaudited consolidated revenue of HK$703.5 million, an increase of 7.6% from HK$653.9 million for the corresponding period last year[10]. - The unaudited consolidated profit attributable to owners of the Company for the same period was HK$93.4 million, representing a decrease of 8.8% compared to HK$102.5 million in 2020[10]. - Basic earnings per share and diluted earnings per share for the six months ended September 30, 2021, were HK8.5 cents and HK8.4 cents, respectively, reflecting decreases of 9.6% and 10.6% from HK9.4 cents for the same period last year[10]. - Gross profit for the period was HK$72,664,000, up from HK$68,771,000 in the previous year, reflecting a gross profit margin improvement[182]. - Profit for the period was HK$93,418,000, compared to HK$102,471,000 for the same period in 2020, indicating a decrease of 8.8%[182]. - Total comprehensive income for the period was HK$95,004,000, down from HK$106,258,000, reflecting a decrease of about 10.6% compared to the previous year[184]. Revenue Breakdown - The revenue of the Construction Division for the same period was HK$620.1 million, up 37.0% from HK$452.4 million in the previous year[13]. - The revenue of the Interior and Renovation Division decreased to HK$56.1 million, down 63.5% from HK$153.9 million in the prior year[18]. - The Building Materials Division recorded revenue of HK$32.3 million, an increase of 36.0% from HK$23.7 million in the same period last year[21]. - The Property Investment Division recorded a revenue of HK$34.1 million for the six months ended September 30, 2021, representing an increase of 32.5% compared to HK$25.7 million for the same period in 2020[42]. - The Property Agency and Management Division recorded revenue of HK$4.1 million for the six months ended September 30, 2021, down from HK$5.6 million in the same period of 2020, representing a decrease of approximately 26.8%[52][54]. - The Health Products Division generated revenue of HK$14.1 million for the six months ended September 30, 2021, compared to HK$15.7 million for the same period in 2020, indicating a decline of about 10.2%[59][62]. Dividends and Shareholder Returns - The Board has resolved to pay a first interim dividend of HK2.5 cents per share for the six months ended September 30, 2021, consistent with the previous year's dividend[10]. - Dividends paid amounted to HK$55,275,000, slightly increasing from HK$54,546,000 in the previous year[194]. Contracts and Projects - Contracts on hand for the Construction Division as of 30 September 2021 amounted to HK$2,017.6 million[13]. - Contracts on hand for the Interior and Renovation Division as of 30 September 2021 totaled HK$631.7 million[18]. - Contracts on hand for the Building Materials Division as of 30 September 2021 were HK$325.8 million[21]. - Major completed projects included the construction of The Hong Kong Palace Museum and the sports centre in Tai Po, showcasing the company's ongoing market expansion efforts[22]. - The company is actively pursuing new contracts and projects, including a 3-year general building maintenance term contract for the City University of Hong Kong[18]. Financial Position and Cash Flow - The total bank balances and cash decreased from HK$706.4 million as of March 31, 2021, to HK$438.4 million as of September 30, 2021[83]. - The current ratio increased from 0.54 times as of March 31, 2021, to 1.21 times as of September 30, 2021[83]. - The Group has access to financing facilities totaling HK$4,226.7 million, with HK$2,935.4 million in bank loans drawn down as of September 30, 2021[84]. - The gearing ratio as of September 30, 2021, was 59.7%, slightly down from 59.9% as of March 31, 2021[92]. - Operating cash flows before movements in working capital showed a net cash used in operating activities of HK$44,185 for the six months ended September 30, 2021, compared to HK$25,128 in the previous year, representing an increase in cash outflow of approximately 75.93%[192]. - Net cash used in investing activities was HK$26,016 for the six months ended September 30, 2021, compared to a net inflow of HK$266,853 in the previous year, indicating a significant shift in cash flow dynamics[192]. Market Conditions and Outlook - The Hong Kong Government announced that annual capital works expenditure will exceed HK$100 billion in the coming years, supporting the local construction industry and creating over 300,000 employment opportunities[65][67]. - The property market in Hong Kong has rebounded strongly since the first quarter of 2021, driven by strong demand for residential properties and a low interest-rate environment[72]. - The tight property policies imposed by the Chinese Government create uncertainty for economic recovery, impacting the overall market outlook[64][66]. Share Capital and Ownership - The total number of issued shares of the company as of September 30, 2021, was 1,105,585,676 shares[117]. - CCM Trust holds approximately 44.11% of the issued share capital with 487,702,041 ordinary shares[133]. - Mingly Corporation owns 9.42% of the issued share capital with 104,243,301 ordinary shares[133]. - The company’s directors held a total of 548,464,461 ordinary shares, representing approximately 49.60% of the issued share capital as of September 30, 2021[114]. Corporate Governance - The director's fee for non-executive director Dr. Lam Chat Yu is adjusted to HK$150,000 per annum effective from November 16, 2021[148]. - The director's fee for independent non-executive directors is adjusted to HK$350,000 per annum effective from November 16, 2021[149]. - The company engaged Deloitte Touche Tohmatsu to assist in reviewing the unaudited condensed consolidated financial statements for the period[180].
兴胜创建(00896) - 2022 - 中期财报