Financial Performance - The company recorded a net profit of approximately HKD 2.1 million for the six months ended September 30, 2021, compared to a net loss of approximately HKD 6.7 million for the same period in 2020, marking a significant turnaround [7]. - Revenue from foundation engineering reached approximately HKD 266.4 million, an increase of approximately HKD 153.0 million or 134.9% compared to approximately HKD 113.4 million for the six months ended September 30, 2020 [10]. - Gross profit for the period was approximately HKD 11.3 million, an increase of approximately HKD 8.6 million or 318.5% from approximately HKD 2.7 million for the same period in 2020 [12]. - The company reported revenue of HKD 266,442 thousand for the six months ended September 30, 2021, compared to HKD 113,424 thousand for the same period in 2020, representing an increase of 134.0% [57]. - Gross profit for the period was HKD 11,345 thousand, a significant increase from HKD 2,691 thousand in the previous year [57]. - The net profit attributable to equity holders for the period was HKD 2,144 thousand, recovering from a loss of HKD 6,703 thousand in the same period last year [57]. Contracts and Projects - The company secured three new contracts with a total original contract value of approximately HKD 48.8 million during the period [9]. - The company has a total of 19 projects on hand, with an original contract value of approximately HKD 1.3 billion as of September 30, 2021 [9]. - The company reported contract revenue of HKD 266,442 thousand for the six months ended September 30, 2021, compared to HKD 113,424 thousand for the same period in 2020, representing an increase of 134% [86]. - Revenue from private projects amounted to HKD 109,791 thousand, while public projects generated HKD 156,651 thousand, indicating a significant shift towards public sector contracts [92]. Financial Position - As of September 30, 2021, the group's cash and cash equivalents totaled approximately HKD 9.4 million, up from HKD 6.0 million as of March 31, 2021 [22]. - The group's debt-to-equity ratio increased to approximately 55.6% as of September 30, 2021, compared to 46.1% as of March 31, 2021, primarily due to an increase in payables to a director [24]. - Current assets increased to HKD 191,804 thousand as of September 30, 2021, compared to HKD 166,853 thousand as of March 31, 2021 [61]. - The group’s total assets less current liabilities amounted to HKD 85,212 thousand as of September 30, 2021, compared to HKD 82,564 thousand as of March 31, 2021 [61]. - The group’s equity attributable to equity holders increased to HKD 79,976 thousand from HKD 77,832 thousand during the same period [61]. Expenses and Costs - Administrative expenses decreased to approximately HKD 9.0 million, a reduction of approximately HKD 0.3 million or 3.2% from approximately HKD 9.3 million for the same period in 2020 [14]. - Financing costs decreased to approximately HKD 0.6 million, a reduction of approximately HKD 0.3 million or 33.3% compared to approximately HKD 0.9 million for the same period in 2020 [15]. - Employee costs, including directors' remuneration, rose to HKD 45,701,000 for the six months ended September 30, 2021, compared to HKD 32,707,000 in the same period of 2020, representing a 39.7% increase [96]. - The total compensation for directors and senior management for the six months ended September 30, 2021, was HKD 2,216,000, a decrease of 17.9% from HKD 2,701,000 in the same period of 2020 [159]. Cash Flow and Investments - The net cash generated from operating activities was HKD 1,175 thousand, a decrease from HKD 18,030 thousand in the previous year [68]. - The group invested approximately HKD 3.8 million in the purchase of properties, plants, and equipment during the period [29]. - The group plans to allocate approximately HKD 10.0 million of the unutilized net proceeds for obtaining more contracts intended for bidding by March 31, 2022 [43]. Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with a noted deviation regarding the roles of Chairman and CEO being held by the same individual, Mr. Chen [183]. - The audit committee, established on May 14, 2018, is responsible for reviewing financial statements and ensuring compliance with applicable accounting standards and regulations [192]. - The unaudited condensed consolidated financial statements for the relevant period have been reviewed by the audit committee, which confirmed compliance with applicable accounting standards and proper disclosures [193]. Other Financial Metrics - The basic earnings per share for the six months ended September 30, 2021, was HKD 0.18, compared to a loss per share of HKD 0.56 in the same period of 2020 [103]. - Trade receivables increased to HKD 41,845,000 as of September 30, 2021, compared to HKD 24,140,000 as of March 31, 2021, indicating growth in sales and credit management [111]. - The expected credit loss provision for trade receivables remained unchanged at HKD 787,000 as of September 30, 2021, compared to HKD 771,000 in the previous year [116].
俊裕地基(01757) - 2022 - 中期财报