Revenue Performance - Revenue from the construction business decreased by 43.4% or $233.7 million, from approximately $538.0 million in FH 2020/21 to approximately $304.3 million in FH 2021/22[7] - Revenue from the data centre leasing segment increased by 17.6% or $13.8 million, from approximately $78.1 million in FH 2020/21 to approximately $91.9 million in FH 2021/22[8] - The Group's consolidated revenue decreased by approximately $200.0 million or 25.4%, from approximately $786.1 million in FH 2020/21 to approximately $586.1 million in FH 2021/22[24] - Revenue from external customers reached HK$586.127 million, with contributions from construction, property leasing, and property development segments of HK$304.291 million, HK$92.929 million, and HK$188.907 million respectively[64] - Revenue from building construction decreased to HK$304,291,000 in 2021 from HK$538,001,000 in 2020, reflecting a decline of approximately 43.5%[69] - Revenue from other sources, including bank interest income and dividend income, amounted to HK$14,463,000 in 2021, up from HK$11,081,000 in 2020[71] Profitability - Consolidated gross profit fell by $88.9 million or 46.6%, from approximately $190.6 million in FH 2020/21 to approximately $101.7 million in FH 2021/22[25] - Net profit for FH 2021/22 slightly dropped by 1.4% to approximately $69.2 million, compared to $70.2 million in FH 2020/21[26] - Profit before taxation for the period was $74.1 million, with a profit for the period of $69.2 million, compared to $89.5 million and $70.2 million respectively in the previous year[45] - Profit before taxation for the six months ended September 30, 2021, was HK$89,511,000, compared to HK$132,710,000 in the same period of 2020[65] - Underlying profit attributable to equity shareholders fell to $29,209,000 from $83,384,000, a decrease of about 65.0%[84] Expenses and Costs - Operating expenses decreased by 36.1% to approximately $46.6 million in FH 2021/22, down from $72.9 million in FH 2020/21[25] - Finance costs decreased to $57,497,000 from $85,103,000, a reduction of approximately 32.5%[73] - Staff costs increased slightly to $67,154,000 from $66,421,000, reflecting a marginal rise of 1.1%[73] - Current tax provision for Hong Kong profits tax decreased significantly to $6,257,000 from $23,118,000, a decline of about 73.0%[75] Assets and Liabilities - The Group's total cash balances were approximately $583.4 million, a decrease from approximately $1,122.0 million as of March 31, 2021[30] - As of September 30, 2021, the Group's total assets pledged against bank loans were valued at $5,560,785,000[103] - Current liabilities increased to $4,982,739,000 as of September 30, 2021, from $5,801,709,000 as of March 31, 2021, showing a decrease of approximately 14.1%[50] - Net current liabilities improved to $(388,767,000) as of September 30, 2021, compared to $(948,248,000) as of March 31, 2021, indicating a positive change[50] - Total equity decreased to $2,218,162,000 as of September 30, 2021, from $2,477,538,000 as of March 31, 2021, representing a decline of about 10.5%[50] Investments and Acquisitions - The Group completed the acquisition of Dream Palace Holdings Limited for a cash consideration of $320 million, with a deposit of $32 million paid as of September 30, 2021[38] - The remaining consideration of approximately $286,297,000 for the acquisition was settled on October 5, 2021[120] - The Group acquired a land parcel in Wuming District, Nanning City, with a site area of approximately 53,334 square metres for residential and commercial development[20] Strategic Developments - The Group intends to develop a residential-cum-retail complex on the land acquired at No. 1 Luen Fat Street, with a total gross floor area of approximately 36,000 square feet[15] - The Group plans to develop luxury residences for the elderly in Nanning, targeting the growing demand due to an aging population[23] - The two new high-tier data centres are targeted to be delivered in mid-2025 and mid-2026[8] - The Group is in the process of applying for a change of land use for the two newly acquired land parcels for data centre development[8] Shareholder Information - As of September 30, 2021, Mr. Chan Hung Ming holds 956,642,940 shares, representing approximately 67.39% of the Company's total shareholding[130] - Mr. Lau Chi Wah holds 106,293,660 shares, accounting for about 7.49% of the Company's total shareholding[130] - The weighted average number of shares in issue remained unchanged at 1,419,542,346 shares[83] Compliance and Governance - The Company has complied with all code provisions set out in the Corporate Governance Code throughout the six months ended September 30, 2021[137] - The audit committee has reviewed the Group's unaudited condensed consolidated financial statements for the first half of 2021/22[138] - All directors confirmed compliance with the standards set out in the Listing Rules regarding securities trading for the six months ending September 30, 2021[140]
佳明集团控股(01271) - 2022 - 中期财报