Financial Performance - Revenue for the six months ended June 30, 2021, was MOP 559,770,000, a significant increase of 137.5% compared to MOP 235,453,000 in the same period of 2020[9] - Gross profit for the same period was MOP 24,705,000, representing a gross margin of approximately 4.4%[9] - Profit before tax increased to MOP 9,356,000, up 105.5% from MOP 4,569,000 in the prior year[9] - Profit attributable to owners of the Company for the period was MOP 7,240,000, compared to MOP 3,226,000 in 2020, marking a year-over-year increase of 124.4%[9] - Basic earnings per share for the period was 0.72 MOP cents, up from 0.32 MOP cents in the previous year[9] - The Group's profit and total comprehensive income attributable to owners of the Company increased by approximately MOP4.0 million or 125.0% from approximately MOP3.2 million for the six months ended 30 June 2020 to approximately MOP7.2 million for the six months ended 30 June 2021[152] Assets and Liabilities - Total assets as of June 30, 2021, were MOP 509,149,000, an increase from MOP 423,021,000 at the end of 2020[11] - Current liabilities increased to MOP 300,435,000 from MOP 218,294,000 at the end of 2020[11] - The net current assets stood at MOP 208,714,000, slightly up from MOP 204,727,000 in the previous period[11] - The company reported an increase in contract assets to MOP 276,123,000, compared to MOP 190,692,000 at the end of 2020[11] - The net assets of the company rose to MOP 242,144,000, up from MOP 234,904,000, indicating a 3.3% increase[6] - The total equity at June 30, 2021, was MOP 242,144,000, compared to MOP 234,904,000 at the end of 2020, reflecting a growth of 3.3%[6] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2021, was MOP (25,134,000), a decline from MOP 15,745,000 in the same period of 2020[20] - The net cash used in investing activities was MOP (13,425,000), compared to MOP (27,262,000) in the prior year, showing a reduction of 50.8%[20] - The net cash from financing activities significantly increased to MOP 71,024,000, compared to MOP (10,883,000) in the previous year[20] - The cash and cash equivalents at the end of the period were MOP 62,572,000, up from MOP 29,433,000, marking a substantial increase of 112.2%[20] Revenue Breakdown - Revenue from building and ancillary services was MOP 554,942,000, compared to MOP 229,609,000 in 2020, indicating an increase of about 141.5%[26] - The geographical breakdown shows that revenue from Macau was MOP 538,202,000, while revenue from Hong Kong was MOP 21,568,000, with the latter being a new revenue stream[26] - Segment revenue from Building and ancillary services was MOP 554,942,000, while Emergency repair services contributed MOP 4,828,000[39] Expenses - Administrative expenses rose to MOP 12,804,000 from MOP 10,157,000 in the previous year, reflecting increased operational costs[9] - Employee benefits expenses rose to MOP 50,482,000 in 2021 from MOP 40,074,000 in 2020, reflecting an increase of 25.5%[66] - Finance costs increased by approximately MOP171,000 or 31.0% from approximately MOP551,000 for the six months ended June 30, 2020 to approximately MOP722,000 for the six months ended June 30, 2021, mainly due to increased interest expenses of bank borrowings[149] Shareholder Information - As of June 30, 2021, Mr. Kong Kin I holds a beneficial interest in 684,950,000 shares, representing 68.50% of the total shares[176] - Ms. Choi Fong Lan, as the spouse of Mr. Kong Kin I, is deemed to have an interest in the same number of shares, 684,950,000, equating to 68.50%[176] - Fortunate Year Investments Limited, controlled by Mr. Kong Kin I (60%) and Ms. Choi Fong Lan (40%), holds 670,000,000 shares, which is 67.00% of the company[187] Corporate Governance - The Board did not recommend the payment of any interim dividend for the six months ended 30 June 2021[192] - The Company has complied with all applicable code provisions set out in the Corporate Governance Code except for code provision A.2.1[195] - The audit committee, consisting of three independent non-executive Directors, reviewed the unaudited condensed consolidated financial statements for the six months ended 30 June 2021[195] Market Outlook - The Group maintains a conservative outlook on its business and financial performance due to increased competition in Macau's construction market[169] - The Group plans to strengthen its position as an integrated construction contractor in Macau and expand its business in Hong Kong[171] - The Group is seeking additional business opportunities related to construction, including property development in the Greater Bay Area and Asia-Pacific Region[171]
建鹏控股(01722) - 2021 - 中期财报