Contracts and Projects - The Group secured nine new contracts with a total original contract value of approximately HK$526.3 million, representing an increase of approximately 110.5% compared to HK$250.0 million in the same period last year[22]. - As of 30 September 2020, the Group has a total of 19 projects on hand with an estimated total outstanding contract value of approximately HK$687.8 million, an increase of approximately 81.8% from HK$378.4 million as of 31 March 2020[22]. Financial Performance - For the six months ended 30 September 2020, the Group recorded revenue of approximately HK$229.4 million, representing an increase of 98.4% compared to approximately HK$115.6 million for the same period in 2019[27]. - The increase in revenue was mainly due to projects TMB-70, TMB-75, TMB-87, TMB-90, and TMB-100, contributing approximately HK$115.8 million[28]. - Gross profit increased by approximately HK$20.2 million or 125.6%, from approximately HK$16.0 million for the six months ended 30 September 2019 to approximately HK$36.2 million for the same period in 2020[30]. - The Group's gross profit margin slightly increased from approximately 13.9% to approximately 15.8%[31]. - Profit attributable to owners of the Company increased by approximately HK$18.0 million or nine times, from approximately HK$2.0 million to approximately HK$20.0 million[44]. - The profit for the period was HK$19,974,000, compared to HK$2,026,000 for the same period last year, showing a substantial growth of 884.5%[124]. Assets and Liabilities - As at 30 September 2020, the Group had net current assets of approximately HK$285.5 million, up from HK$157.3 million as of 31 March 2020[46]. - Total equity attributable to owners of the Company amounted to approximately HK$290.8 million, an increase from HK$163.7 million as of 31 March 2020[47]. - The Group's total interest-bearing borrowings and lease liabilities amounted to approximately HK$11.7 million, down from HK$16.7 million as of 31 March 2020[47]. - The gearing ratio as of 30 September 2020 was approximately 3.3%, a decrease from 9.3% as of 31 March 2020[56]. - Trade receivables of construction works amounted to HK$134.17 million as of September 30, 2020, down from HK$143.99 million as of March 31, 2020, reflecting a decrease of approximately 6.0%[181]. Operational Developments - The Group aims to diversify and broaden its revenue sources by exploring new business opportunities and maximizing profits for shareholders[23]. - The Group plans to enhance its financial position to secure additional large-scale formwork projects and expand its capability in system formwork works services[23]. - The Group intends to increase its stock of metal scaffold equipment and related parts to support business development[23]. - The Group operates primarily in one business segment, providing formwork works services in Hong Kong[62]. Employee and Administrative Costs - The total staff cost for the six months ended 30 September 2020 amounted to approximately HK$144.7 million, compared to HK$84.6 million for the same period in 2019[73]. - Administrative and other operating expenses increased from approximately HK$3.6 million to approximately HK$6.1 million, representing an increase of approximately 67.3%[36]. Cash Flow and Financing - For the six months ended September 30, 2020, cash generated from operations was HK$20,466,000, a significant increase from HK$944,000 in the same period of 2019[127]. - The company reported a net cash inflow from financing activities of HK$20,887,000, up from HK$861,000 in the prior year[127]. - The company raised gross proceeds of HK$140,000,000 from the issuance of 400,000,000 new ordinary shares at HK$0.35 each on September 29, 2020[127]. Shareholder Information - As of September 30, 2020, Mr. Leung Yam Cheung holds 1,200,000,000 shares, representing approximately 75% of the issued share capital[104]. - The weighted average number of ordinary shares in issue for the six months ended September 30, 2020, was 1,202,186,000, slightly up from 1,200,000,000 in 2019[174]. Compliance and Governance - The company has complied with the Corporate Governance Code since its listing[89]. - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the period[98]. Taxation and Expenses - The Group recognized a total income tax expense of HK$5,069,000 for the six months ended September 30, 2020, up from HK$2,077,000 in 2019, reflecting an increase of approximately 144%[167]. - The company incurred listing expenses of HK$5,679,000 during the reporting period, down from HK$8,495,000 in the previous year[116]. Future Outlook - The Group is confident that its business will continue to operate in a stable manner moving forward[23]. - The expected timeline for utilizing the unutilized proceeds includes HK$49.3 million for enhancing financial position by March 31, 2022, and HK$17.5 million for increasing metal scaffold equipment stock by March 31, 2021[82].
天任集团(01429) - 2021 - 中期财报