Financial Performance - For the six months ended September 30, 2020, the group recorded revenue of approximately HKD 84.6 million, a decrease of approximately HKD 50.6 million or 37.4% compared to HKD 135.2 million for the same period in 2019[10]. - Gross profit for the same period was approximately HKD 1.6 million, down approximately 76.5% from HKD 6.8 million in the prior year, resulting in a gross margin of approximately 1.9%[10]. - The loss attributable to owners of the company was approximately HKD 6.0 million, compared to a loss of approximately HKD 2.3 million for the same period in 2019[10]. - Basic and diluted loss per share for the period was approximately HKD 0.75, compared to HKD 0.28 for the same period in 2019[10]. - The decline in revenue was primarily due to decreases in both superstructure construction and renovation, maintenance, alteration, and addition works, which fell by approximately HKD 32.3 million and HKD 18.3 million, respectively[13]. - The company reported a loss before tax of approximately HKD 6,015,000 for the six months ended September 30, 2020, compared to a loss of HKD 2,276,000 for the same period in 2019, indicating an increase in loss of 164%[53][55]. Cash Flow and Assets - Cash and cash equivalents increased to HKD 121,995,000 as of September 30, 2020, from HKD 108,991,000 at the end of March 2020, reflecting a growth of 11.8%[33]. - The company reported a net cash inflow from operating activities of HKD 21,069,000, down 47.3% from HKD 39,751,000 in the previous year[33]. - Total assets less current liabilities decreased to HKD 174,256,000 from HKD 188,792,000, a decline of 7.7%[28]. - The company’s total equity as of September 30, 2020, was HKD 174,256,000, down from HKD 188,271,000 as of March 31, 2020, a decrease of 7.4%[28]. - Trade receivables as of September 30, 2020, were HKD 23,742 thousand, down 46.8% from HKD 44,584 thousand as of March 31, 2020[45]. - The company’s non-current assets decreased to HKD 2,526,000 from HKD 12,606,000, a significant reduction of 80%[25]. Dividends and Shareholder Information - The board has resolved not to declare any interim dividend for the six months ended September 30, 2020[10]. - The company did not declare any dividends during the period, compared to HKD 8,000,000 paid in the previous year[29]. - The major shareholders, Mr. Chan Kam Tong and Mr. Chan Kam Ming, each hold 67.5% of the company's shares through Shiny Golden Limited[98]. - Shiny Golden holds 67.5% of the company's equity, with 540,000,000 shares[102]. - UG China Venture II Limited and UG Capital Limited each hold 5% of the company's equity, with 40,000,000 shares[102]. Government Support and COVID-19 Impact - The COVID-19 pandemic has severely impacted the business and investment environment in Hong Kong, leading to reduced investment in the construction industry[14]. - The group recognized government subsidies of HKD 2,123 thousand during the reporting period, aimed at supporting employee wages[47]. - Other income for the six months ended September 30, 2020, was HKD 2,230 thousand, compared to HKD 657 thousand for the same period in 2019, representing a significant increase[47]. Corporate Governance - The audit committee was established on July 25, 2018, to oversee external auditor appointments and financial reporting[109]. - The interim financial statements for the six months ended September 30, 2020, were reviewed and approved by the audit committee[110]. - The company has adopted and complied with the corporate governance code as of September 30, 2020[106]. - All directors complied with the standard code of conduct regarding securities trading during the six months ended September 30, 2020[107]. - The board of directors includes both executive and independent non-executive members, ensuring governance oversight[111].
晋景新能(01783) - 2021 - 中期财报