Financial Performance - The group recorded revenue of approximately HKD 100.9 million for the six months ended September 30, 2019, a decrease of approximately HKD 158.9 million or 61.2% compared to HKD 259.8 million for the same period in 2018[11]. - Gross profit for the same period was approximately HKD 8.7 million, down by approximately HKD 19.5 million or 69.3% from HKD 28.2 million in 2018, with a gross margin of about 8.6% compared to 10.9% in the previous year[13]. - The group reported a loss attributable to equity holders of approximately HKD 10.1 million, a decrease of approximately HKD 17.6 million from a profit of HKD 7.5 million in the same period of 2018[17]. - Revenue for the six months ended September 30, 2019, was HKD 100,880 thousand, a decrease of 61.2% compared to HKD 259,775 thousand for the same period in 2018[51]. - Gross profit for the same period was HKD 8,651 thousand, down from HKD 28,206 thousand, reflecting a significant decline in profitability[51]. - The net loss attributable to equity holders for the period was HKD 10,064 thousand, compared to a profit of HKD 7,457 thousand in the previous year[51]. - The company reported a basic and diluted loss per share of HKD 0.84, compared to earnings per share of HKD 0.68 in the prior year[51]. Contracts and Projects - The group secured 7 new contracts with a total original contract value of approximately HKD 334.6 million during the six months ended September 30, 2019[10]. - As of September 30, 2019, the group had 34 projects on hand, with a total original contract value of approximately HKD 1,358.8 million[10]. - The group has entered into a contract with a main contractor for a project valued at approximately HKD 220.8 million, which is expected to stabilize business and revenue[9]. - The group's contract revenue for the six months ended September 30, 2019, was HKD 100,880,000, a decrease of 61.2% compared to HKD 259,775,000 for the same period in 2018[97]. Financial Position - As of September 30, 2019, the group had cash and cash equivalents totaling approximately HKD 32.5 million, an increase from HKD 23.8 million as of March 31, 2019[24]. - Total borrowings as of September 30, 2019, amounted to approximately HKD 51.0 million, up from HKD 33.6 million as of March 31, 2019[24]. - The group's debt-to-equity ratio was approximately 54.9% as of September 30, 2019, compared to 32.7% as of March 31, 2019[24]. - Total assets as of September 30, 2019, amounted to HKD 185,567 thousand, an increase from HKD 172,106 thousand as of March 31, 2019[53]. - Current liabilities increased to HKD 115,285 thousand from HKD 86,513 thousand, indicating a rise in short-term financial obligations[53]. - The company’s equity attributable to equity holders decreased to HKD 92,862 thousand from HKD 102,926 thousand, reflecting the impact of the loss for the period[53]. Expenses and Costs - Administrative expenses increased to approximately HKD 19.8 million, up by approximately HKD 1.0 million or 5.6% from HKD 18.8 million in the previous year[15]. - Financing costs rose to approximately HKD 0.9 million, an increase of approximately HKD 0.3 million or 41.2% compared to HKD 0.6 million in 2018[16]. - The total employee cost for the six months ended September 30, 2019, was approximately HKD 30.4 million, down from HKD 50.2 million for the same period in 2018[39]. - Employee costs, including directors' remuneration, amounted to HKD 30,447,000 for the six months ended September 30, 2019, down from HKD 50,215,000 in 2018[104]. Cash Flow - Operating cash flow for the six months ended September 30, 2019, was HKD 264,000, compared to a cash outflow of HKD 46,044,000 in the same period of 2018[58]. - Net cash used in operating activities was HKD (292,000) for the six months ended September 30, 2019, compared to HKD (46,044,000) in 2018[58]. - Net cash used in investing activities was HKD (4,418,000) for the six months ended September 30, 2019, compared to HKD (1,643,000) in 2018[58]. - Net cash from financing activities was HKD 13,467,000 for the six months ended September 30, 2019, compared to HKD 82,041,000 in 2018[58]. - Cash and cash equivalents at the end of the period were HKD 32,546,000, down from HKD 45,349,000 at the end of the same period in 2018[58]. Assets and Liabilities - The present value of lease liabilities was HKD 7,723,000 as of September 30, 2019, compared to HKD 7,144,000 on March 31, 2019, showing an increase of about 8%[140]. - The total trade and other payables reached HKD 64,930,000 as of September 30, 2019, compared to HKD 52,497,000 on March 31, 2019, representing an increase of approximately 24%[133]. - Trade payables rose to HKD 23,455,000 as of September 30, 2019, up from HKD 20,545,000 on March 31, 2019, representing an increase of approximately 9%[133]. - The total contract liabilities increased from HKD 3,865,000 on March 31, 2019, to HKD 4,292,000 as of September 30, 2019, reflecting a growth of approximately 11%[128]. Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with it, except for the separation of the roles of Chairman and CEO, which are held by the same person[160]. - The audit committee has been established in accordance with the listing rules and corporate governance code, consisting of three independent non-executive directors[171]. - The interim financial results for the six months ended September 30, 2019, have been reviewed and approved by the audit committee, ensuring compliance with applicable accounting standards[172]. - The company confirms that it has maintained sufficient public float as required by the listing rules as of September 30, 2019[168]. Shareholding and Related Party Transactions - As of September 30, 2019, Mr. Chan held 900 million shares, representing 75% of the company's equity[156]. - Oriental Castle Group Limited, the direct shareholder of the company, is beneficially owned by Mr. Chan and Ms. Chu, holding 90% and 10% respectively[159]. - Significant related party transactions included transportation expenses for construction waste disposal amounting to HKD 1,935 thousand, a decrease of 85% from HKD 13,366 thousand in the previous year[149].
俊裕地基(01757) - 2020 - 中期财报