Financial Performance - Revenue for the six months ended September 30, 2021, was HK$2,001,876,000, representing an increase of 41.6% compared to HK$1,411,491,000 in the same period of 2020[9] - Gross profit for the period was HK$67,654,000, compared to HK$18,687,000 in the previous year, indicating a significant improvement[9] - Profit before tax was HK$22,354,000, up from HK$2,501,000 in the prior year, reflecting a substantial increase in profitability[9] - Total comprehensive income for the period was HK$13,528,000, compared to HK$1,396,000 in the same period last year, showing strong growth[9] - Earnings per share attributable to ordinary equity holders of the parent was HK$0.68, a significant increase from HK$0.07 in the previous year[9] - The Group recorded a consolidated turnover of HK$2,001,876,000 for the six months ended 30 September 2021, representing a 42% increase from HK$1,411,491,000 in the previous corresponding period[91] - Gross profit for the same period was HK$67,654,000, reflecting a 262% increase from HK$18,687,000 for the six months ended 30 September 2020[91] - Profit attributable to owners of the parent amounted to HK$13,528,000, compared to HK$1,396,000 in the previous period, indicating significant growth in net profit[91] Assets and Liabilities - Total non-current assets increased to HK$1,345,256,000 as of September 30, 2021, up from HK$1,278,964,000 as of March 31, 2021, representing a growth of 5.2%[11] - Current assets decreased to HK$1,540,763,000 as of September 30, 2021, down from HK$1,785,361,000 as of March 31, 2021, a decline of 13.7%[11] - Net current assets were HK$468,590,000 as of September 30, 2021, compared to HK$556,650,000 as of March 31, 2021, indicating a decrease of 15.8%[11] - Total liabilities decreased to HK$1,572,948,000 as of September 30, 2021, down from HK$1,728,982,000 as of March 31, 2021, a reduction of 9.0%[12] - Total equity attributable to owners of the parent decreased to HK$1,313,071,000 as of September 30, 2021, down from HK$1,349,543,000 as of March 31, 2021, a decrease of 2.7%[12] Cash Flow and Financing - The company reported a net cash flow used in operating activities of HK$88,476,000 for the six months ended September 30, 2021, compared to HK$26,859,000 for the same period in 2020[16] - Cash and cash equivalents at the end of the period were HK$395,458,000, a decrease from HK$904,933,000 at the beginning of the period, reflecting a decline of 56.4%[16] - Interest-bearing bank loans remained stable at HK$482,000,000 as of September 30, 2021, unchanged from March 31, 2021[12] - The Group's cash and cash equivalents decreased by 56% from HK$904,933,000 as of March 31, 2021, to HK$395,458,000 as of September 30, 2021, primarily due to net repayment of bank loans and cash outflows from operations[125] Operational Highlights - The company engaged in building construction and repair, maintenance, alteration, and addition (RMAA) works in Hong Kong during the reporting period, with no significant changes in its principal activities[19] - The Group has only one reportable operating segment, which is the contract works segment, focusing on building construction and RMAA works[36] - The Group's effective tax rate remains at 16.5% for the period, consistent with the previous year[45] - The Group's non-current assets are entirely located in Hong Kong, and all revenue is derived from operations in Hong Kong[39] Shareholder Information - The company declared and paid a final dividend of HK$0.025 per share for the year ended 31 March 2021, totaling HK$50,000,000[8] - The company has 2,000,000,000 ordinary shares issued and fully paid, with no movement in share capital during the six months ended 30 September 2021[60] - Mr. Ngai Chun Hung holds a significant interest in the company with 1,500,000,000 shares, representing 75% of the issued share capital[154] - Substantial shareholders include Golded Lux and Golden More, each holding 1,500,000,000 shares, representing 75.00% of the issued share capital of the Company[171] Governance and Compliance - The interim financial information has been reviewed by the Audit Committee, ensuring a level of oversight and accuracy in reporting[8] - The Company confirmed compliance with the Corporate Governance Code throughout the six months ended September 30, 2021[187] - The audit committee consists of five independent non-executive directors, ensuring compliance with listing rules and reporting to the board[195] - The audit committee reviewed the accounting principles and practices adopted by the group, discussing internal controls, risk management, and financial reporting matters[195] Future Outlook - The company has not provided specific guidance for future performance but has indicated a focus on market expansion and new product development[7] - The medium to long-term outlook for the construction industry in Hong Kong is promising due to high demand for housing and healthcare services[144] - The group anticipates significant capital expenditures in the next six months due to new major projects and redevelopment activities[125]
安保工程控股(01627) - 2022 - 中期财报