Financial Performance - Revenue for the six months ended September 30, 2019, amounted to approximately HK$113,351,000, an increase from approximately HK$78,929,000 for the same period in 2018[26]. - Loss attributable to equity shareholders for the Reporting Period was approximately HK$18,907,000, compared to a loss of approximately HK$34,321,000 for the same period in 2018[26]. - Basic and diluted loss per share for the Reporting Period was approximately HK cents 1.97, down from approximately HK cents 3.58 for the same period in 2018[26]. - The Group's total revenue for the Reporting Period increased by approximately HK$34,422,000, or approximately 43.6%, from approximately HK$78,929,000 for the six months ended 30 September 2018 to approximately HK$113,351,000 for the Reporting Period[43]. - The loss before taxation for the period was HK$19,174,000, compared to a loss of HK$35,655,000 for the same period in 2018[104]. - The Group recorded a net loss of approximately HK$18,907,000, a decrease from a net loss of approximately HK$34,321,000 in the corresponding period of 2018, attributed to a reduction in overall gross loss margin[66]. Revenue Breakdown - Revenue from foundation construction contributed approximately 80.4% of total revenue during the Reporting Period, up from approximately 78.1% in the same period of 2018[30]. - Revenue from ground investigation services contributed approximately 14.2% of total revenue during the Reporting Period, down from approximately 21.8% in the same period of 2018[31]. - Revenue from foundation construction works increased by approximately 47.9%, from approximately HK$61,635,000 for the six months ended 30 September 2018 to approximately HK$91,142,000 for the Reporting Period[43]. - Revenue from ground investigation services decreased by approximately 6.8%, from approximately HK$17,214,000 for the six months ended 30 September 2018 to approximately HK$16,035,000 for the Reporting Period[45]. - Revenue from financial services amounted to approximately HK$574,000 for the Reporting Period, compared to HK$80,000 for the six months ended 30 September 2018[47]. - Revenue from the trading business amounted to approximately HK$5,600,000 for the Reporting Period, with no revenue reported for the six months ended 30 September 2018[47]. Profitability and Expenses - The Group's gross profit amounted to approximately HK$672,000 for the Reporting Period, compared to a gross loss of approximately HK$14,332,000 for the six months ended 30 September 2018[49]. - Gross profit margin of the ground investigation services segment increased from approximately 24.7% for the six months ended 30 September 2018 to approximately 35.0% for the Reporting Period[50]. - General and administrative expenses for the Reporting Period were approximately HK$23,788,000, representing an increase of approximately 5.5% over the corresponding period in 2018[59]. - Finance costs increased to approximately HK$4,074,000 for the Reporting Period, up from approximately HK$2,889,000 for the six months ended 30 September 2018, primarily due to higher interest rates on borrowings[60]. - Other net income increased by approximately HK$3,492,000, from approximately HK$1,772,000 for the six months ended 30 September 2018 to approximately HK$5,264,000 for the Reporting Period[58]. Assets and Liabilities - As of 30 September 2019, the Group's total interest-bearing borrowings increased to approximately HK$206,358,000 from approximately HK$198,287,000 as of 31 March 2019[77]. - The Group's net current assets amounted to approximately HK$233,488,000 as of 30 September 2019, a decrease of approximately HK$18,500,000 from approximately HK$251,988,000 as of 31 March 2019[77]. - The Group's cash and bank balances were approximately HK$293,874,000 as of 30 September 2019, down from approximately HK$337,512,000 as of 31 March 2019[79]. - Total equity as of September 30, 2019, was HK$249,374, down from HK$268,281 as of March 31, 2019, indicating a decrease of approximately 7.0%[111]. - The amount due to a related company increased to HK$101,850 as of September 30, 2019, from HK$99,600 as of March 31, 2019, representing a rise of approximately 2.5%[108]. Cash Flow - The net cash used in operating activities was approximately HK$37,518,000 during the Reporting Period, primarily for foundation construction and ground investigation services[80]. - The net cash used in operating activities for the six months ended September 30, 2019, was HK$37,518, compared to HK$44,351 for the same period in 2018, showing an improvement of approximately 15.5%[122]. - Cash and cash equivalents at the end of the period on September 30, 2019, were HK$293,874, down from HK$337,512 at the beginning of the period, reflecting a decrease of about 12.9%[122]. - The company reported a net cash (used in)/generated from investing activities of HK$6,517 for the six months ended September 30, 2019, compared to HK$6,723 generated in the same period of 2018[122]. Corporate Structure and Governance - The Group was engaged in foundation construction, ground investigation services, financial services, and trading of beauty and skin care products during the Reporting Period[29]. - The Group's financial services segment was part of its diversified business model, although specific revenue figures were not disclosed[29]. - The Group conditionally agreed to acquire approximately 51.315% of the issued share capital of a target group engaged in e-sports events and online video production, pending approval from the Stock Exchange[93]. - The Group's registered office is located in Grand Cayman, Cayman Islands, and its principal place of business in Hong Kong is in Wanchai[1]. - The Group's shares are listed on the Main Board of the Stock Exchange[1]. Accounting Policies - The Group's financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting"[132]. - The application of new and amendments to HKFRSs in the current period has had no material impact on the Group's financial performance and positions[176]. - HKFRS 16 has replaced HKAS 17, impacting the accounting policies related to leases[178]. - The Group has applied the transition provisions of HKFRS 16 in its accounting policies[180]. - The Group applies the new definition of a lease in HKFRS 16 only to contracts entered into or changed on or after April 1, 2019[185].
宏基集团控股(01718) - 2020 - 中期财报