Revenue Performance - Revenue for the six months ended September 30, 2020, was HK$500.73 million, an increase of 21% from HK$413.85 million in the same period of 2019[7]. - The Group's total revenue for the six months ended September 30, 2020, was HK$500.7 million, representing an increase of 20.97% compared to HK$413.8 million for the same period in 2019[39]. - Revenue from foundation and other civil works amounted to HK$368.4 million, up from HK$312.1 million in the previous year, reflecting a growth of 18.06%[39]. - Revenue from tunneling works was HK$62.2 million, compared to HK$44.0 million in the prior year, indicating a significant increase of 41.14%[39]. - The sales of aquatic products, including fish, crabs, and shrimps, generated revenue of HK$70.0 million, which is an increase from HK$25.6 million in the previous year[39]. - Revenue from external customers in Hong Kong was HK$421,870,000, while the PRC contributed HK$70,139,000, and the Philippines added HK$8,720,000, showing a diversified revenue stream[63]. Profitability - Gross profit decreased to HK$51.53 million, down 24% from HK$67.98 million year-on-year[7]. - Profit for the period was HK$9.42 million, a significant decline of 68% compared to HK$29.55 million in the previous year[7]. - Total comprehensive income for the period was HK$11.04 million, down from HK$20.27 million in the same period last year[9]. - Basic and diluted earnings per share were HK$0.04, compared to HK$0.06 in the previous year[9]. - Segment profit for the foundation and civil works was HK$35,323,000, while tunneling works generated a profit of HK$10,849,000, and aquatic products contributed HK$8,011,000, totaling HK$54,183,000 in segment profit[51]. - Profit before taxation for the six months ended September 30, 2020, was HK$13,378,000, compared to HK$35,427,000 for the same period in 2019, indicating a decrease of approximately 62.3%[52][63]. Expenses - Administrative and other expenses increased to HK$51.72 million, up from HK$48.27 million in the previous year[7]. - Selling and distribution expenses rose to HK$15.31 million, compared to HK$9.86 million in the same period of 2019[7]. - Research and development expenses increased significantly to HK$7,052,000 from HK$1,074,000, marking a rise of approximately 553.5%[71]. - Employee benefits expenses rose to HK$105,529,000 from HK$82,103,000, reflecting an increase of approximately 28.5%[71]. - Interest expenses on borrowings increased to HK$4,655,000 from HK$2,022,000, which is an increase of about 130.5%[69]. Assets and Liabilities - As of September 30, 2020, total assets amounted to HK$522,361,000, an increase of 5.5% from HK$495,096,000 as of March 31, 2020[11]. - Current assets increased significantly to HK$141,721,000, up 15.4% from HK$122,785,000 as of March 31, 2020[11]. - Non-current assets rose to HK$317,100,000, reflecting a growth of 5.8% compared to HK$299,638,000 as of March 31, 2020[11]. - Total liabilities as of September 30, 2020, were HK$443,370,000, an increase from HK$409,684,000 as of March 31, 2020[58]. - Current liabilities increased to HK$380,640,000, compared to HK$372,311,000 as of March 31, 2020[11]. Cash Flow - Net cash from operating activities for the six months ended 30 September 2020 was HK$35,445,000, compared to a net cash used of HK$29,575,000 in the same period of 2019[28]. - Net cash used in investing activities amounted to HK$39,220,000, an increase from HK$33,889,000 in the prior year[28]. - Financing activities generated net cash of HK$13,539,000, a decrease from HK$71,853,000 in the previous year[28]. - The total cash and cash equivalents at the end of the reporting period were HK$41,502,000, down from HK$78,698,000 at the end of the previous period[28]. Strategic Focus - The company plans to focus on market expansion and new product development to drive future growth[7]. - The Group intends to use genetic modification for biosynthetic exploration to provide new solutions for drug source bottlenecks and to invest in the research and development of marine functional products and innovative drugs[158]. - The Group is actively expanding its aquatic products business by entering into letters of intent for strategic cooperation with parties possessing extensive resources in various coastal provinces in the PRC[161]. Market and Operational Insights - The Group operates in three geographical locations: Hong Kong, the PRC, and the Philippines, indicating a broad operational footprint[61]. - The Group's biological assets included 31,965 kg of live fishes, down 51.9% from 66,420 kg as of 31 March 2020[99]. - The Group's breeding stock of live crabs increased significantly to 45,606 kg as of 30 September 2020, compared to 5,476 kg as of 31 March 2020[99]. - The Group faced risks from environmental changes and commodity prices, prompting diversification of farm locations to mitigate adverse climatic conditions[100]. Financial Position - The Group's current ratio as of 30 September 2020 was approximately 1.4 times, compared to 1.3 times as of 31 March 2020[186]. - The gearing ratio as of 30 September 2020 was approximately 52.2%, down from 53.1% as of 31 March 2020[186]. - The Group has pledged assets totaling approximately HK$28.1 million to secure banking facilities, an increase from HK$26.9 million as of March 31, 2020[191].
义合控股(01662) - 2021 - 中期财报