Financial Performance - For the six months ended September 30, 2021, the Group recorded unaudited consolidated revenue of HK$380.5 million, representing a growth of 60.4% from HK$237.2 million for the same period in 2020[15]. - The unaudited consolidated profit attributable to owners of the Company for the same period was HK$21.8 million, an increase of 8.7% compared to HK$20.1 million in the prior period[16]. - Basic earnings per share for the six months ended September 30, 2021, remained at HK$0.05, unchanged from the same period in 2020[17]. - The diluted earnings per share for the current period were HK$0.05, while no diluted earnings per share were presented for the corresponding period last year[17]. - The gross profit margin decreased from 15.5% in the prior period to 10.9% in the current period due to lower margin projects and increased material costs[16]. - The total comprehensive income for the period was HK$22,665,000, slightly down from HK$23,321,000 in the same period last year[140]. - Profit for the period was HK$21,800,000, up from HK$20,050,000 in the prior year, reflecting an increase of approximately 8.7%[140]. - Revenue for the six months ended 30 September 2021 was HK$380,544,000, an increase from HK$237,220,000 in the same period of 2020, representing a growth of approximately 60.4%[140]. Revenue Sources - Revenue growth was primarily driven by various residential development projects, including those at Kai Tak and Wong Chuk Hang Station[15]. - Revenue from the design, supply, and installation of curtain walls and aluminium windows for new buildings was HK$320,841,000, up 43.5% from HK$223,603,000 in the previous year[170]. - Revenue from renovation works for existing buildings was HK$55,980,000, significantly increasing from HK$10,044,000 in the prior period[170]. - Revenue from Hong Kong was HK$377,723,000, representing a 60.9% increase from HK$234,731,000 in the previous year[176]. - Revenue from Mainland China was HK$2,821,000, a slight increase from HK$2,489,000 in the same period last year[176]. Market Conditions and Strategies - The Group's performance reflects intense competition in the market, impacting profit margins[16]. - Future strategies may focus on enhancing project profitability and exploring new development opportunities to mitigate margin pressures[16]. - The Company continues to monitor market conditions and adjust its strategies accordingly to sustain growth[16]. - The Group's business development is expected to remain stable due to ongoing housing development and infrastructure investments by the government[30]. Cash and Financial Position - The Group maintains a net cash position and expects stable revenue from outstanding contracts over the next 2 to 3 years[32]. - As of September 30, 2021, the Group's total cash and bank balances were HK$164.6 million, accounting for 30.0% of current assets, down from 46.6% as of March 31, 2021[37][42]. - The Group maintained a net cash position with no bank loans outstanding as of September 30, 2021, and net current assets increased to HK$443.1 million[39][47]. - The current ratio as of September 30, 2021, was 5.17 times, compared to 7.22 times as of March 31, 2021[39][42]. - The Group has access to bank facilities totaling HK$360 million, with HK$125.5 million utilized for performance bonds as of September 30, 2021[38][42]. Shareholder Information - The company has a total of 421,461,630 ordinary shares issued as of September 30, 2021[70]. - Wong Sue Toa, Stewart holds 16,313,054 shares, representing approximately 5.53% of the issued share capital[64]. - Cha Mou Daid, Johnson holds 219,409,017 shares, which is about 52.05% of the issued share capital[64]. - Tai Sai Ho holds 8,590,288 shares, accounting for 2.03% of the issued share capital[64]. - The share option scheme was adopted on August 25, 2020, and is valid for ten years until August 24, 2030[74]. - The purpose of the share option scheme is to reward participants and encourage contributions to enhance the company's value[82]. Corporate Governance - The company has complied with all Code Provisions of the Corporate Governance Code, except for one deviation regarding attendance at the annual general meeting[120]. - The company has adopted the Model Code for securities transactions by directors, with all directors confirming compliance during the reporting period[121]. - The company emphasizes transparency and accountability to all shareholders as part of its corporate governance principles[120]. Dividends and Share Repurchases - The Group declared a first interim dividend of HK1.6 cents per share for the six months ended September 30, 2021, consistent with the previous year[22]. - The second interim dividend declared was HK$2.6 cents per share, totaling HK$11,030,000, compared to HK$8,727,000 for the final dividend of HK$2.0 cents per share in the previous year[187]. - The company repurchased a total of 18,046,000 shares during the six months ended 30 September 2021, with an aggregate consideration of approximately HK$15,235,000[127]. - 17,880,000 of the repurchased shares were cancelled during the period, and the remaining 166,000 shares were cancelled in October 2021[127].
美亨实业(01897) - 2022 - 中期财报