Financial Performance - Total revenue increased by approximately HKD 83.3 million or 40.5% to approximately HKD 289.2 million for the six months ended September 30, 2021, compared to approximately HKD 205.9 million for the same period in 2020[5] - Loss attributable to owners of the company decreased by approximately HKD 1.3 million or 17.0% to approximately HKD 6.2 million for the six months ended September 30, 2021, from approximately HKD 7.5 million for the same period in 2020[20] - Revenue from private sector projects was approximately HKD 274.8 million, accounting for about 95.0% of total revenue, compared to 83.3% in the same period of 2020[5] - Revenue from public sector projects was approximately HKD 14.4 million, accounting for about 5.0% of total revenue, down from approximately 16.7% in the same period of 2020[5] - Gross profit increased by approximately HKD 0.6 million or 42.5% to approximately HKD 2.0 million, maintaining a gross margin of about 0.7% for both periods[15] - The company reported revenue of HKD 289,221,000 for the six months ended September 30, 2021, an increase of 40.3% compared to HKD 205,861,000 in the same period of 2020[52] - Gross profit for the same period was HKD 2,039,000, up 42.5% from HKD 1,431,000 year-on-year[52] - The company incurred a loss before tax of HKD 6,216,000, an improvement from a loss of HKD 8,731,000 in the previous year, representing a reduction of 28.9%[52] - For the six months ended September 30, 2021, the company reported a total loss of HKD 6,216,000, compared to a loss of HKD 7,485,000 for the same period in 2020, representing a 17% improvement in loss[59] - The company reported a total comprehensive loss of HKD 6,216,000 for the six months ended September 30, 2021, with a pre-tax loss of HKD 6,216,000[71] Expenses and Costs - Administrative expenses decreased by approximately HKD 1.8 million or 17.6% to approximately HKD 8.6 million for the six months ended September 30, 2021, from approximately HKD 10.4 million for the same period in 2020[18] - The total salary cost recognized in the profit and loss for the six months ended September 30, 2021, was approximately HKD 145.2 million, compared to HKD 130.2 million for the same period in 2020, representing an increase of about 11.5%[32] - Employee costs, including directors' remuneration, rose to HKD 145,228,000 for the six months ended September 30, 2021, compared to HKD 130,195,000 in 2020, marking an increase of 11.5%[83] - Financing costs for the six months ended September 30, 2021, totaled HKD 1,408,000, slightly down from HKD 1,430,000 in 2020, a decrease of 1.5%[81] - Depreciation of property, plant, and equipment increased to HKD 8,131,000 in 2021 from HKD 4,553,000 in 2020, a significant increase of 78.5%[83] Cash and Liquidity - As of September 30, 2021, the group had cash and cash equivalents of approximately HKD 165.2 million, a decrease of about 11.5% from HKD 186.6 million as of March 31, 2021[23] - The company’s cash and cash equivalents decreased from HKD 186,621,000 at the beginning of the period to HKD 165,217,000 at the end of the period, a reduction of 11%[62] - The company maintained a prudent funding and treasury policy, closely monitoring its liquidity position to meet funding needs[24] - The net cash used in operating activities for the six months ended September 30, 2021, was HKD 15,898,000, an increase of 61% compared to HKD 9,873,000 in the prior year[62] Assets and Liabilities - Total assets decreased to HKD 355,942,000 as of September 30, 2021, down from HKD 391,130,000 as of March 31, 2021[54] - The company’s total liabilities decreased from HKD 224,409,000 as of March 31, 2021, to HKD 195,437,000 as of September 30, 2021, a reduction of approximately 13%[77] - Current liabilities decreased to HKD 191,435,000 from HKD 223,943,000, indicating improved liquidity management[54] - Trade receivables as of September 30, 2021, were HKD 50,932,000, down 36.2% from HKD 79,737,000 as of March 31, 2021[86] - Contract assets as of September 30, 2021, amounted to HKD 98,740,000, an increase of 21.8% from HKD 81,059,000 as of March 31, 2021[88] Shareholder and Capital Structure - The company did not declare any interim dividend for the six months ended September 30, 2021[7] - Major shareholders collectively hold 75% of the issued share capital, indicating a concentrated ownership structure[44] - The total issued and paid-up share capital remained unchanged at HKD 15,000,000 as of September 30, 2021, with 1,500,000 shares issued[94] Contracts and Projects - The company secured a new contract with a total contract value of approximately HKD 17.5 million during the review period[6] - The company will continue to focus on cost control measures and project management efficiency to maintain competitiveness in the market[10] Market Outlook - The outlook for the private property market in Hong Kong remains uncertain, potentially leading to conservative development plans and pricing strategies by developers[8] Other Information - There were no significant acquisitions or disposals of subsidiaries or associates during the reporting period[29] - The company has not conducted any significant subsequent events after September 30, 2021, until the report date[49] - The company has not purchased, sold, or redeemed any of its securities during the six months ended September 30, 2021[47] - The company has a share option scheme in place since May 23, 2017, but no options have been granted, exercised, or lapsed as of September 30, 2021[48] - The company has pledged 1,125,000,000 shares as collateral for a loan of HKD 500,000,000 from a third party[45] - The company did not declare or propose any dividends during the interim period[84] - Related party transactions included purchases from Jingfu Plastic Co., amounting to HKD 4,050,000, up from HKD 2,823,000 in the previous year, reflecting a growth of about 43.5%[94]
建成控股(01630) - 2022 - 中期财报