Financial Performance - The total revenue for the period was approximately HKD 113,019,000, a decrease of about HKD 12,477,000 or 9.9% compared to HKD 125,466,000 for the same period last year[18]. - The gross profit for the period was approximately HKD 15,987,000, with a gross profit margin of approximately 14.1%, compared to a gross loss of HKD 7,847,000 and a gross loss margin of 6.3% for the same period last year[20]. - The net profit for the period was approximately HKD 5,390,000, a significant improvement from a net loss of approximately HKD 15,484,000 for the same period last year[24]. - Revenue for the six months ended September 30, 2021, was HKD 113,019,000, a decrease of 9.8% compared to HKD 125,466,000 for the same period in 2020[57]. - Gross profit for the same period was HKD 15,987,000, compared to a gross loss of HKD 7,847,000 in the previous year, indicating a significant recovery[57]. - Operating profit for the six months was HKD 6,338,000, a turnaround from an operating loss of HKD 15,172,000 in the prior year[57]. - The company reported a net profit of HKD 5,390,000 for the period, compared to a net loss of HKD 15,484,000 in the previous year[57]. - The operating profit for the six months ended September 30, 2021, was HKD 10,108,000, compared to HKD 7,061,000 for the same period in 2020, representing an increase of approximately 43%[79]. - The group reported other income of HKD 2,170,000 for the six months ended September 30, 2021, down from HKD 5,090,000 in the same period of 2020, reflecting a decrease of approximately 57%[77]. Expenses and Cost Management - Administrative expenses for the period were approximately HKD 12,131,000, a decrease of about HKD 216,000 or 1.7% compared to HKD 12,347,000 for the same period last year, due to effective cost control[22]. - Employee expenses for the six months ended September 30, 2021, were HKD 21,183,000, a decrease of approximately 43% from HKD 37,249,000 in the same period of 2020[79]. - Depreciation expenses for property, plant, and equipment increased to HKD 7,550,000 for the six months ended September 30, 2021, compared to HKD 6,405,000 in the same period of 2020, reflecting an increase of approximately 18%[79]. - The group incurred finance costs of HKD 948,000 for the six months ended September 30, 2021, compared to HKD 312,000 in the same period of 2020, representing an increase of approximately 203%[80]. Assets and Liabilities - The group had a total of nine projects on hand with a total contract value of approximately HKD 472,800,000, four of which are expected to be completed in the next fiscal year[17]. - Total assets as of September 30, 2021, were HKD 187,867,000, a decrease from HKD 201,841,000 as of March 31, 2021[58]. - The company's cash and cash equivalents decreased to HKD 14,485,000 from HKD 21,780,000 at the beginning of the period[64]. - The company's equity as of September 30, 2021, was HKD 160,460,000, up from HKD 155,070,000 as of March 31, 2021[60]. - The total bank loans as of September 30, 2021, amounted to approximately HKD 23,364,000, an increase from HKD 19,459,000 as of March 31, 2021, representing a growth of 20%[101]. - Trade payables as of September 30, 2021, were HKD 48,102,000, up from HKD 46,672,000 as of March 31, 2021, indicating an increase of 3%[106]. - The group’s total liabilities included trade payables and other payables amounting to HKD 76,193,000 as of September 30, 2021, down from HKD 87,995,000 as of March 31, 2021, reflecting a decrease of 13%[106]. Shareholder Information - The major shareholder, Creative Elite Global Limited, holds 495,000,000 shares, representing 72.29% of the company's equity[34]. - The company’s major shareholders include individuals with significant stakes in Creative Elite Global Limited, with percentages of 45%, 28%, and 18% held by different directors[37]. - The company has not reported any changes in the ownership structure of its shares as of September 30, 2021[38]. - The weighted average number of ordinary shares used for calculating basic earnings per share remained constant at 684,750,000 shares for both periods[86]. - The group’s issued and fully paid ordinary shares as of September 30, 2021, were 684,750,000 shares, with a total value of HKD 6,848,000[108]. Corporate Governance and Future Outlook - The company maintains a high level of corporate governance and has complied with all applicable codes during the reporting period[47]. - The company’s board believes that enhancing public accountability and corporate governance will benefit the company's performance and shareholder interests[47]. - The management remains optimistic about future business prospects, citing government focus on increasing land supply for private residential and commercial buildings in Hong Kong[17]. - The company plans to continue focusing on operational efficiency and cost management to enhance profitability in the future[53]. - The group continues to focus on foundation engineering services in Hong Kong and Macau, with no independent operating segment financial information presented due to the unified resource allocation[73]. Cash Flow and Financing - Net cash generated from operating activities was HKD 3,203,000, compared to a net cash used of HKD 2,813,000 in the same period last year[64]. - The company has no current tax liabilities due to accumulated tax losses offsetting taxable profits for the period[83]. - The company has pledged its short-term deposits as collateral for bank financing[100]. - The actual interest rate for bank loans ranged from 2.75% to 5.00% as of September 30, 2021, compared to a fixed rate of 5.00% as of March 31, 2021[105]. Other Information - The company has not made any significant investments or acquisitions during the period[28][29]. - The company has not declared an interim dividend for the six months ending September 30, 2021[46]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2021, consistent with the previous year[85]. - The group has not reported any significant events or transactions that would materially affect the financial position and performance since the publication of the consolidated financial statements for the year ended March 31, 2021[68]. - The group has three labor claims arising from normal business operations, with no specific claim amounts determined at the time of reporting[112].
上谕集团(01633) - 2022 - 中期财报