Revenue and Profitability - Revenue increased by approximately HK$25.7 million, or 8.4%, from approximately HK$307.5 million in the last period to approximately HK$333.2 million in the current period[10] - Revenue for the six months ended September 30, 2020, increased to HK$333,205,000, up 8.3% from HK$307,523,000 in the same period of 2019[112] - Profit before taxation rose to HK$21,120,000, representing an increase of 7.7% from HK$19,615,000 in the previous year[112] - Net profit for the period was HK$18,358,000, up 12.6% from HK$16,298,000 in the same period of 2019[112] - Profit attributable to owners of the Company increased by approximately HK$2.1 million, or 12.9%, to approximately HK$18.4 million[36] - Basic earnings per share increased to 4.6 HK cents, compared to 4.1 HK cents in the previous year, reflecting a growth of 12.2%[112] Project Awards and Revenue Sources - The company was awarded 7 projects with an aggregate contract sum of approximately HK$555.1 million during the current period[11] - Revenue from MVAC system projects accounted for approximately 74.0% and low voltage electrical system projects accounted for approximately 26.0% of total revenue in the current period[18] - The largest project awarded was for MVAC system installation at a commercial development at Chek Lap Kok, with a contract sum of HK$275.0 million[14] - A residential project for MVAC system installation at Cheung Sha Wan had a contract sum of HK$152.7 million[14] - The electrical system installation project at Cheung Sha Wan had a contract sum of HK$88.8 million[14] - Revenue from the supply, installation, and maintenance of low voltage electrical systems increased by 43.3% to HK$86,556,000 compared to HK$60,356,000 in 2019[145] Financial Position and Assets - Total assets as of September 30, 2020, were HK$397,036,000, an increase from HK$340,541,000 as of March 31, 2020[114] - The Group had net current assets of approximately HK$228.8 million as of 30 September 2020, an increase from HK$217.9 million as of 31 March 2020[55][61] - The Group's trade receivables as of 30 September 2020 were HK$55,737,000, a decrease from HK$60,379,000 as of 31 March 2020, reflecting a reduction of 7.1%[179] - The Group's property and equipment and right-of-use assets amounted to HK$26,278,000 as of 30 September 2020, down from HK$28,002,000 as of 31 March 2020[148] - The Group's cash and cash equivalents were approximately HK$168 million as of 30 September 2020, an increase from HK$139.4 million as of 31 March 2020[49] Expenses and Liabilities - Gross profit decreased by approximately HK$2.0 million, or 6.5%, from approximately HK$30.8 million to approximately HK$28.8 million, with a gross profit margin decline of approximately 1.4 percentage points to approximately 8.6%[24] - Administrative expenses increased by approximately HK$1.6 million, or 14.8%, to approximately HK$12.4 million due to higher staff costs[33] - The increase in trade payables was HK$29,551,000, slightly up from HK$29,403,000 in the previous year, indicating stable supplier relationships[121] - Trade payables totaled HK$61,695,000 as of September 30, 2020, significantly higher than HK$32,144,000 as of March 31, 2020, indicating an increase of 92.0%[187] Compliance and Governance - The company maintained compliance with all relevant provisions of the Corporate Governance Code during the current period[82] - Directors confirmed compliance with the Model Code for Securities Transactions during the current period[83] - The Audit Committee consists of three independent non-executive Directors and has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2020[99] Shareholder Information - As of September 30, 2020, Yu Cheung Choy held a long position of 246 million shares, representing approximately 61.50% of the issued share capital[89] - Lau Man Ching held a long position of 54 million shares, representing approximately 13.50% of the issued share capital[89] - The Company and its subsidiaries did not purchase, sell, or redeem any of the Company's listed securities during the current period[97] Cash Flow and Investments - For the six months ended September 30, 2020, net cash from operating activities was HK$40,795,000, a decrease of 20.3% compared to HK$51,246,000 in the same period of 2019[121] - Net cash used in investing activities was HK$3,554,000, a significant decrease from HK$22,739,000 in the prior period, reflecting reduced investment outflows[121] - The company holds investments in listed bonds totaling HK$5,909,000 as of September 30, 2020, compared to HK$4,106,000 as of March 31, 2020, indicating an increase of approximately 43.9%[199]
顺兴集团控股(01637) - 2021 - 中期财报