Financial Performance - For the six months ended September 30, 2021, the group's revenue decreased by approximately HKD 38.6 million or 26.7% to about HKD 105.7 million, compared to HKD 144.3 million for the same period in 2020[15] - The group achieved a gross profit of approximately HKD 4.9 million, a significant improvement of 120.3% from a gross loss of HKD 24.1 million in the same period last year[16] - The gross profit margin for the six months ended September 30, 2021, was approximately 4.6%, compared to a gross loss margin of 16.7% for the same period in 2020[16] - Revenue for the six months ended September 30, 2021, was HKD 105,714,000, a decrease of 26.9% compared to HKD 144,341,000 for the same period in 2020[40] - Loss attributable to equity holders for the period was HKD 1,296,000, significantly improved from a loss of HKD 26,552,000 in the same period last year[40] - Basic and diluted loss per share was HKD 0.27, compared to HKD 5.53 for the same period in 2020[40] - The net loss for the six months ended September 30, 2021, was approximately HKD 1.3 million, a significant decrease of 95.1% from approximately HKD 26.6 million in the same period of 2020[21] Revenue and Market Conditions - The decrease in revenue was primarily attributed to a reduction in the number of large projects in the market during the reporting period[15] - The overall business atmosphere has shifted significantly due to the pandemic, affecting operational dynamics in the renovation market[13] - There is an expectation of a future increase in the number of pending renovation and refurbishment projects, which may lead to improved business opportunities[13] Operating Expenses and Costs - Administrative and other operating expenses for the six months ended September 30, 2021, were approximately HKD 5.4 million, a decrease of 21.7% from approximately HKD 6.9 million in the same period of 2020[18] - Financial costs decreased by approximately HKD 0.2 million or 22.2% to about HKD 0.7 million for the six months ended September 30, 2021, compared to approximately HKD 0.9 million for the same period in 2020[19] - Total employee costs for the six months ended September 30, 2021, were approximately HKD 9.2 million, a decrease from approximately HKD 14.9 million for the same period in 2020[31] - Employee costs for the six months ended September 30, 2021, were HKD 8,800,000, a decrease of 38.5% from HKD 14,263,000 in 2020[68] Cash Flow and Financial Position - As of September 30, 2021, the total cash and cash equivalents amounted to approximately HKD 17.2 million, down from approximately HKD 26.6 million as of March 31, 2021, due to a net cash outflow of approximately HKD 9.4 million from operating and financing activities[22] - The company reported a net cash outflow from operating activities of HKD 9,770,000 for the six months ended September 30, 2021, compared to a cash inflow of HKD 4,580,000 in the previous year[50] - Cash and bank balances decreased to HKD 14,109,000 from HKD 23,548,000 at the end of March 2021[42] - The cash and bank balances decreased to HKD 14,109,000 as of September 30, 2021, down from HKD 23,548,000 as of March 31, 2021, representing a decline of 40.3%[94] Assets and Liabilities - Total assets less current liabilities amounted to HKD 134,958,000, a slight decrease from HKD 136,707,000 as of March 31, 2021[42] - The total liabilities for trade and other payables were HKD 17,219,000 as of September 30, 2021, compared to HKD 26,191,000 as of March 31, 2021, reflecting a decrease of 34.2%[97] - The debt-to-equity ratio increased from approximately 35.3% as of March 31, 2021, to approximately 36.5% as of September 30, 2021, primarily due to an increase in bank borrowings[22] Corporate Governance and Shareholder Information - The board resolved not to declare any interim dividend for the six months ended September 30, 2021, consistent with the same period in 2020[32] - Kairong Holdings Limited holds 75% of the issued share capital of the company, with ownership distributed among its directors: Mr. Wen Haiyuan (50%), Ms. Wu Yanzhen (30%), and Mr. He Zhikang (20%)[125] - The company has maintained sufficient public float as required by the listing rules as of September 30, 2021[131] - The company has complied with all provisions of the corporate governance code during the reporting period[133] Audit and Management - The audit committee, consisting of independent non-executive directors, reviewed and approved the unaudited interim financial statements for the six months ending September 30, 2021[136] - The board expressed gratitude to the management team, employees, shareholders, investors, and business partners for their support and contributions[137]
耀高控股(01796) - 2022 - 中期财报