Financial Performance - The group's revenue for the six months ended September 30, 2021, was approximately HKD 90.3 million, a decrease of 14.7% compared to HKD 105.9 million for the same period in 2020[1]. - The loss attributable to the company's owners for the period was approximately HKD 9 million, compared to a profit of approximately HKD 9 million in the prior period[1]. - The basic loss per share for the period was approximately HKD 1.12, compared to earnings of approximately HKD 1.13 per share in the previous period[1]. - The group's gross profit for the six months was HKD 11.6 million, an increase of 22.3% from HKD 9.5 million in the prior period[3]. - Revenue for the six months ended September 30, 2021, was HKD 90,288,000, a decrease of 14.8% compared to HKD 105,920,000 for the same period in 2020[25]. - The company reported a loss attributable to owners of the company of HKD 8,978,000 for the six months ended September 30, 2021, compared to a profit of HKD 9,044,000 in the same period of 2020[35]. - The company recorded a net loss of approximately HKD 9 million, compared to a profit of about HKD 9 million in the previous period, mainly due to reduced other income and increased administrative expenses[75]. Revenue Segmentation - The construction segment generated HKD 35,882,000 in revenue, up from HKD 13,080,000 in the previous year, indicating a significant increase[25]. - The maintenance, repair, alteration, and addition (RMAA) segment saw a decline in revenue to HKD 42,028,000 from HKD 73,337,000, a decrease of 42.7%[25]. - Revenue from building construction services significantly increased from about HKD 13.1 million to about HKD 35.9 million, attributed to the commencement of several new projects[66]. Expenses and Liabilities - The group's administrative expenses increased to HKD 19.4 million, up 42.3% from HKD 13.6 million in the previous period[3]. - Total employee costs increased to HKD 8,486,000 from HKD 6,398,000, reflecting a rise of 32.4%[28]. - Accrued expenses as of September 30, 2021, reached HKD 37,275,000, significantly up from HKD 10,928,000 as of March 31, 2021, indicating a growth of 241.5%[46]. - The total liabilities of Great Glory Developments Limited included current liabilities of HKD 67,657,000 as of September 30, 2021, compared to HKD 65,333,000 as of March 31, 2021[59]. Cash Flow and Financial Position - The net cash used in operating activities was HKD 20.9 million, compared to a net cash inflow of HKD 33.3 million in the same period last year[11]. - The group's cash and cash equivalents at the end of the period were HKD 59.3 million, down from HKD 91.3 million at the beginning of the period[11]. - As of September 30, 2021, the company's cash and cash equivalents were approximately HKD 60.3 million, down from about HKD 92.3 million as of March 31, 2021[77]. - The debt-to-equity ratio improved to approximately 17.4% from 22.1% as of March 31, 2021, indicating a stronger capital structure[78]. Joint Ventures and Investments - The group agreed to provide a total capital injection of HKD 188,650,000 to a joint venture, with approximately HKD 80,045,000 already injected by September 30, 2021[83]. - The group's equity in joint ventures showed a cost of HKD 80,050,000 as of September 30, 2021, compared to HKD 74,699,000 as of March 31, 2021, reflecting an increase of 7.5%[54]. - The group’s share of losses from joint ventures for the six months ended September 30, 2021, was HKD 1,523,000, indicating ongoing challenges in joint venture performance[61]. Corporate Governance - The board did not recommend the payment of an interim dividend for the period[1]. - The company did not declare an interim dividend for the six months ended September 30, 2021, consistent with the previous year[34]. - The group has complied with all provisions of the corporate governance code during the reporting period, except for the aforementioned deviation[93]. - An audit committee was established on September 22, 2015, to review the company's financial information and monitor internal control procedures[110]. Research and Development - The company continues to invest in R&D for innovative assembly construction designs and has adopted new construction technologies to enhance productivity[64]. - Administrative expenses increased by approximately 42.3% to about HKD 19.4 million, primarily due to rising employee costs and R&D expenses related to innovative assembly construction[72]. Employee and Shareholder Information - As of September 30, 2021, the group had 62 employees, down from 79 employees as of March 31, 2021[85]. - As of September 30, 2021, the group’s major shareholder, Cheers Mate, holds 580,000,000 shares, representing 72.5% of the issued share capital[100].
德莱建业(01546) - 2022 - 中期财报