Financial Performance - Sino Harbour Holdings reported a revenue of HK$XX million for the first half of 2021/22, representing a YY% increase compared to the same period last year[2]. - The company achieved a net profit of HK$XX million, which is ZZ% higher than the previous year[2]. - Revenue for 1H 2021/22 was approximately RMB 608.4 million, an increase of 93.8% compared to RMB 313.9 million in 1H 2020/21[15]. - The Group recorded a profit before income tax of approximately RMB352.1 million in 1H 2021/22, compared to approximately RMB83.1 million in 1H 2020/21, representing a significant increase[19]. - Profit after income tax was approximately RMB221.9 million in 1H 2021/22, an increase of 528.6% from approximately RMB35.3 million in 1H 2020/21[19]. - The profit for the period reached RMB 221.9 million, a substantial increase from RMB 35.3 million in the prior year, reflecting a growth of 528%[36]. - The operating profit for the six months ended September 30, 2021, was RMB 354.0 million, compared to RMB 84.9 million in the same period of 2020, marking a growth of 317%[35]. - Profit attributable to owners of the Company for the six months ended 30 September 2021 was RMB 152,090,000, a significant increase from RMB 38,342,000 in the same period of 2020, representing a growth of approximately 295%[87]. Revenue Sources - Revenue from sales of properties held for sale was primarily derived from the delivery of residential units of Sino Harbour • Guanlan Phase 1 in Yichun, China[15]. - Revenue from property development for the first half of 2021/22 was RMB 603,464,000, a 94% increase from RMB 310,652,000 in the first half of 2020/21[59]. - Other income rose significantly from approximately RMB 3.9 million in 1H 2020/21 to approximately RMB 203.4 million in 1H 2021/22, mainly due to a net gain from land resumption[16]. Cost and Expenses - Cost of sales increased to approximately RMB 410.1 million in 1H 2021/22 from approximately RMB 192.7 million in 1H 2020/21, while gross profit margin decreased from 38.6% to 32.6%[16]. - Selling and distribution expenses increased from approximately RMB 11.9 million in 1H 2020/21 to approximately RMB 17.3 million in 1H 2021/22, primarily due to increased marketing expenses[16]. - Administrative expenses rose to approximately RMB 30.5 million in 1H 2021/22 from approximately RMB 28.4 million in 1H 2020/21, mainly due to increased employee costs and depreciation[16]. Market and Strategic Outlook - The management provided a positive outlook, projecting a revenue growth of CC% for the next fiscal year[2]. - The company is focusing on market expansion in the Asia-Pacific region, targeting a market share increase of EE%[2]. - Sino Harbour is exploring potential acquisitions to strengthen its market position, with a budget of HK$FF million allocated for this purpose[2]. - Future strategies may include further project launches and potential acquisitions to enhance market presence[16]. Assets and Liabilities - As of September 30, 2021, total assets amounted to RMB 4,062,097, an increase from RMB 3,916,377 as of March 31, 2021, representing a growth of approximately 3.7%[39]. - Properties held for sale increased to approximately RMB1,391.7 million as at 30 September 2021 from approximately RMB542.8 million as at 31 March 2021[19]. - Total borrowings decreased from approximately RMB592.0 million as of 31 March 2021 to approximately RMB411.4 million as of 30 September 2021, reflecting repayment of borrowings[23]. - The Group's gearing ratio improved to 22.1% as of 30 September 2021, down from 35.4% as of 31 March 2021, indicating better financial stability[23]. Corporate Governance - The management emphasized the importance of corporate governance and compliance with the Listing Rules to maintain investor confidence[2]. - The Company has maintained compliance with all provisions of the Corporate Governance Code during the first half of 2021/22, focusing on internal control and fair disclosure[117]. - The Audit Committee, consisting of three Independent Non-Executive Directors, reviewed the Group's unaudited condensed consolidated interim results for the first half of 2021/22 before submission to the Board for approval[126]. - The Company continues to focus on enhancing its corporate governance practices to maximize operational effectiveness[120]. Employee and Operational Metrics - As of 30 September 2021, the Group had 304 employees, an increase from 240 employees as of 31 March 2021[26]. - Employee costs, including Directors' emoluments, amounted to approximately RMB19.6 million in 1H 2021/22, compared to RMB19.8 million in 1H 2020/21[26]. - The company reported no single customer contributing to 10% or more of the Group's revenue for the six months ended September 30, 2021, and 2020, indicating a diversified customer base[67]. Cash Flow and Financing - The Group recorded a net cash inflow of approximately RMB200.6 million from operating activities in 1H 2021/22, attributed to increases in accruals and other payables[22]. - Net cash outflow from investing activities in 1H 2021/22 was approximately RMB29.9 million, mainly due to the purchase of property, plant, and equipment[22]. - The net cash used in financing activities was RMB (200,067,000), which is an improvement compared to RMB (230,816,000) in the same period last year, showing a decrease in financing costs[50].
汉港控股(01663) - 2022 - 中期财报