Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 358,951,000, representing a 27.7% increase from HKD 281,123,000 in the same period of 2020[3] - Gross profit for the same period was HKD 77,181,000, up 66.0% from HKD 46,470,000 year-on-year[3] - Net profit for the period was HKD 16,240,000, an increase of 15.5% compared to HKD 14,065,000 in the previous year[5] - Basic earnings per share for the period was HKD 1.4, down from HKD 1.8 in the same period last year[3] - Total comprehensive income for the period ended September 30, 2021, was HKD 14,318,000, compared to HKD 22,273,000 for the same period in 2020, reflecting a decrease of approximately 35.6%[15] - The company reported a decrease in other comprehensive income, totaling HKD (1,922,000) compared to HKD 8,208,000 in the previous year[5] - The company generated HKD 993,000 in other income for the six months ended September 30, 2021, down from HKD 5,526,000 in the same period of 2020[55] - The company reported a pre-tax profit of HKD 5,857,000 for the six months ended September 30, 2021, compared to HKD 4,102,000 for the same period in 2020, representing a growth of 42.7%[63] Assets and Liabilities - Total assets less current liabilities as of September 30, 2021, amounted to HKD 582,773,000, compared to HKD 530,001,000 as of March 31, 2021[10] - The company's net assets increased to HKD 558,671,000 from HKD 505,165,000 in the previous period[10] - Trade and other receivables increased to HKD 194,713,000 from HKD 150,895,000, reflecting a 29.0% rise[8] - The fair value of other financial assets as of September 30, 2021, was HKD 6,480,000, down from HKD 7,700,000 as of March 31, 2021, reflecting a decrease of 15.6%[36][37] - Trade receivables as of September 30, 2021, amounted to HKD 168,834,000, an increase from HKD 131,046,000 as of March 31, 2021, reflecting a growth of approximately 28.8%[82] - Trade payables as of September 30, 2021, amounted to HKD 78,308,000, a decrease of 6.6% from HKD 83,411,000 as of March 31, 2021[86] - Accrued expenses and other payables were HKD 10,073,000, down 46.3% from HKD 18,708,000 as of March 31, 2021[86] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2021, was HKD 27,551,000, compared to a net cash inflow of HKD 26,070,000 in 2020[17] - The company’s cash and cash equivalents increased to HKD 114,531,000 from HKD 106,810,000[8] - The company’s investment activities resulted in a net cash outflow of HKD 15,000 for the period, compared to a net cash inflow of HKD 1,199,000 in 2020[17] Share Capital and Dividends - The company issued new shares during the period, raising HKD 31,083,000 from share placements and HKD 9,706,000 from the exercise of share options[19] - The company declared an interim dividend of HKD 5,587,000 to non-controlling shareholders during the period[19] - The total number of shares issued and fully paid as of September 30, 2021, was 877,590,312, reflecting an increase from previous periods[92] - The company did not recommend any dividend for the six months ended September 30, 2021, consistent with no dividend declared for the same period in 2020[68] Segment Performance - Revenue from IT application and solution development services was HKD 76,434,000, up 112.5% from HKD 36,124,000 year-on-year[41] - Revenue from IT infrastructure solution services reached HKD 185,677,000, an increase of 13.5% compared to HKD 163,026,000 in the previous year[41] - Revenue from IT maintenance and support services generated revenue of HKD 85,915,000, an increase of 23.7% from HKD 69,512,000 in the previous year[41] - Revenue from IT secondment services decreased by approximately 12.3% to HKD 10.9 million, accounting for about 3.1% of total revenue, primarily due to reduced demand from major clients in the banking and financial sectors[116] Employee and Administrative Expenses - The company’s administrative expenses rose to HKD 46,247,000 from HKD 31,599,000, indicating a 46.3% increase[3] - Employee costs, including directors' remuneration, increased to HKD 67,227,000 for the six months ended September 30, 2021, compared to HKD 53,367,000 for the same period in 2020, marking a rise of 25.9%[59] - The company’s general and administrative expenses increased by approximately HKD 14.6 million, primarily due to an increase in employee costs of about HKD 13.7 million[113] Governance and Compliance - The company appointed a new auditor, Crowe (HK) CPA Limited, after the resignation of its previous auditor, which had served for eight years[193] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021, and found them compliant with applicable accounting standards[195] - The company has established an audit committee consisting of one non-executive director and two independent non-executive directors[195] - The company’s governance practices include the establishment of an audit committee to enhance independence and oversight[195] Future Outlook and Strategy - The company anticipates gradual recovery of the global economy due to the supply of COVID-19 vaccines and fiscal stimulus policies from major economies, maintaining a cautiously optimistic outlook for business growth[121] - The company aims to expand its customer base and improve cost control in response to the challenges posed by the COVID-19 pandemic and competitive pressures in the IT industry[121] - The company plans to utilize approximately HKD 30.5 million from the 2021 placement proceeds for the development of an algorithmic trading solution platform, with no funds utilized as of September 30, 2021[134]
扬科集团(01460) - 2022 - 中期财报