Revenue Performance - Total revenue for construction and engineering services reached approximately HKD 183.5 million, an increase of about 17.6% compared to HKD 156 million for the same period last year[11]. - The total revenue of the group increased by approximately HKD 27.4 million or 17.2% to approximately HKD 186.6 million for the six months ended June 30, 2021, compared to approximately HKD 159.2 million for the same period in 2020[22]. - Revenue from construction and engineering services rose by approximately HKD 27.5 million or about 17.6% to approximately HKD 183.5 million for the six months ended June 30, 2021, primarily due to significant contributions from major slope engineering contracts[23]. - Revenue for the six months ended June 30, 2021, was HKD 186,588 thousand, an increase from HKD 159,169 thousand in the same period of 2020, representing a growth of approximately 17.3%[60]. - Revenue from construction and engineering services was HKD 183,522,000, up from HKD 155,989,000, reflecting a growth of 17.6% year-on-year[92]. Profitability and Loss - The gross profit for the group decreased significantly by approximately 84.2% to about HKD 0.9 million for the six months ended June 30, 2021, compared to approximately HKD 5.7 million for the same period in 2020, resulting in a gross profit margin of approximately 0.5%[26]. - The gross profit from construction and engineering services dropped by approximately 95.1% to about HKD 0.2 million, with a gross profit margin of approximately 0.1% for the six months ended June 30, 2021[27]. - The net loss for the six months ended June 30, 2021, was approximately HKD 10.6 million, an increase from a net loss of approximately HKD 6.0 million for the same period in 2020, resulting in a net loss margin of approximately 5.7%[35]. - The company reported a loss attributable to equity holders of HKD 10,620,000 for the six months ended June 30, 2021, compared to a loss of HKD 6,023,000 in the same period of 2020, representing an increase in loss of 76.5%[118]. - The basic and diluted loss per share for the period was HKD (0.63), compared to HKD (0.36) in the previous year, indicating a worsening of approximately 75%[60]. Expenses and Costs - The administrative expenses decreased by 6.8% to approximately HKD 13.6 million for the six months ended June 30, 2021, compared to approximately HKD 14.6 million for the same period in 2020[32]. - The financial costs related to lease liabilities decreased by approximately 63.5% to about HKD 31,000 for the six months ended June 30, 2021, compared to approximately HKD 85,000 for the same period in 2020[33]. - The total employee cost for the six months ended June 30, 2021, was approximately HKD 16.6 million, compared to HKD 14.9 million for the same period in 2020[47]. Cash Flow and Financial Position - As of June 30, 2021, the total cash and bank balance of the group was approximately HKD 178 million, an increase from HKD 156.3 million as of December 31, 2020[38]. - The company reported a net cash flow from operating activities of HKD 29,139,000, compared to HKD 12,182,000 for the same period in 2020, representing an increase of 139%[75]. - Cash and bank balances as of June 30, 2021, were HKD 178,019 thousand, an increase from HKD 156,335 thousand as of December 31, 2020, representing a growth of approximately 13.8%[62]. - The total assets decreased to HKD 275,621 thousand from HKD 295,153 thousand, reflecting a decline of approximately 6.6%[62]. - The group's capital debt ratio as of June 30, 2021, was approximately 0.5%, down from 1.2% as of December 31, 2020, due to repayment of lease liabilities[40]. Contracts and Future Plans - The group currently holds 59 construction contracts with an uncompleted contract value of approximately HKD 273 million, expected to be completed within 2023[15]. - The group plans to closely monitor the market and respond to changes, focusing on private sector projects and subcontracting for new slope engineering projects[22]. - The board is considering expanding into other businesses beyond the Hong Kong market to enhance future development and revenue base[18]. - The group aims to explore diversification and other investment opportunities in light of the ongoing pandemic challenges[22]. Legal and Regulatory Matters - The company is currently involved in ongoing legal proceedings related to employee compensation and personal injury claims, but the board believes these will not have a significant adverse impact on operations or financial condition[169]. - The company has accepted regulatory actions that include a six-month suspension from the construction industry and voluntary avoidance of bidding on certain public works contracts for eight months[178]. Corporate Governance - The company has adopted and complied with the corporate governance code as per the listing rules during the six months ending June 30, 2021[192]. - The audit committee, established on September 21, 2017, consists of three members and is responsible for reviewing financial information and overseeing the financial reporting system[199]. - The interim results for the six months ending June 30, 2021, were reviewed and approved by the audit committee, ensuring compliance with applicable accounting standards[200].
致浩达控股(01707) - 2021 - 中期财报