Revenue and Profitability - Revenue increased by approximately HK$36.8 million, or 11.0%, from approximately HK$333.2 million in the last period to approximately HK$370.0 million in the current period[11] - Revenue from MVAC system projects accounted for approximately 83.2% of total revenue, while low voltage electrical system projects contributed 16.8% in the current period[19] - Gross profit increased by approximately HK$4.1 million, or 14.2%, from approximately HK$28.8 million for the Last Period to approximately HK$32.9 million for the Current Period[32] - Gross profit margin slightly increased by approximately 0.3 percentage points, from approximately 8.6% for the Last Period to approximately 8.9% for the Current Period[32] - Profit attributable to owners of the Company decreased by approximately HK$4.9 million or approximately 26.6%, from approximately HK$18.4 million for the Last Period to approximately HK$13.5 million for the Current Period[44] - Net profit for the period was HK$13,538,000, a decline of 26.1% from HK$18,358,000 in the prior year[120] - Basic earnings per share decreased to 3.4 HK cents, down from 4.6 HK cents in the same period of 2020[120] Project Awards and Operations - The Group was awarded 6 projects with an aggregate contract sum of approximately HK$190.7 million, primarily related to MVAC system installation[12] - The five largest projects awarded in the current period include a contract sum of HK$74.0 million for a non-residential development at Sai Wan Ho, and HK$56.4 million for a residential development at Kai Tak[15] - Major projects undertaken in the current period continued to focus on MVAC system and low voltage electrical system, reflecting a shift from 74.0% and 26.0% in the previous year[19] - The Group's revenue for the current period reflects a strong demand for E&M engineering services in both private and public sectors[10] - Future outlook indicates continued growth in revenue driven by new project awards and ongoing maintenance contracts[10] Financial Position and Liquidity - The current ratio of the Group was approximately 2.1 times as of 30 September 2021[47] - Cash and cash equivalents held by the Group were approximately HK$198.7 million as of 30 September 2021[46] - As of 30 September 2021, the Group's net current assets were approximately HK$221.9 million, a decrease from HK$232.2 million as of 31 March 2021, primarily due to the purchase of financial assets and the payment of dividends[58] - The Group maintained a strong liquidity position with cash and cash equivalents of approximately HK$198.7 million as of 30 September 2021, down from HK$236.0 million as of 31 March 2021[51] - The Group's gearing ratio was nil as of 30 September 2021, indicating no bank borrowings[57] Corporate Governance and Shareholding - The Company is committed to maintaining good corporate governance standards to enhance shareholder value[85] - The Company complied with all relevant code provisions set out in the Corporate Governance Code during the current period[86] - As of September 30, 2021, Yu Cheung Choy held a long position of 246,000,000 shares, representing approximately 61.50% of the issued share capital[93] - Lau Man Ching held a long position of 54,000,000 shares, representing approximately 13.50% of the issued share capital[93] - Other than the interests of the Directors and chief executives, no substantial shareholders had notified the Company of relevant interests or short positions in shares as of September 30, 2021[95] Cash Flow and Investments - For the six months ended September 30, 2021, the net cash used in operating activities was HK$10,483,000, a significant decrease compared to HK$40,795,000 in the same period of 2020[129] - The cash and cash equivalents at the end of the period were HK$198,671,000, compared to HK$167,975,000 at the end of the same period in 2020, indicating an increase[129] - The net cash used in investing activities was HK$10,354,000, which increased from HK$3,554,000 in the previous year[129] - The cash used in financing activities was HK$16,532,000, compared to HK$8,619,000 in the same period of 2020, indicating a higher cash outflow[129] Employee and Operational Metrics - As of September 30, 2021, the Group had a total of 187 employees, a decrease from 191 employees as of March 31, 2021[76] - Total staff costs rose to HK$45,898,000, an increase of 13.0% from HK$40,610,000 in the same period of 2020[160] Impairments and Losses - The company recognized a net impairment loss of HK$118,000 under the expected credit loss model, compared to HK$40,000 in the previous year[120] - Fair value loss on financial assets was HK$4,945,000, compared to a loss of HK$1,375,000 in the previous year, indicating a significant increase in losses[156] Dividends - A final dividend of HK$3.9 cents per ordinary share was declared and paid, totaling HK$15.6 million, compared to HK$1.7 cents per share totaling HK$6.8 million in the previous year[170][171] - The Group did not declare any interim dividend for the six months ended 30 September 2021, compared to no interim dividend declared in 2020[172]
顺兴集团控股(01637) - 2022 - 中期财报