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银涛控股(01943) - 2022 - 中期财报
SILVER TIDESILVER TIDE(HK:01943)2021-12-17 09:45

Financial Performance - Revenue decreased from approximately HKD 211.6 million for the six months ended September 30, 2020, to approximately HKD 191.3 million for the six months ended September 30, 2021, representing a decline of about 10%[9] - Gross loss for the six months ended September 30, 2021, was approximately HKD 17.2 million, compared to a gross profit of approximately HKD 16.5 million for the same period in 2020, a decrease of about 204%[10] - Other income and gains decreased from approximately HKD 6.6 million to approximately HKD 1.4 million, a decline of about 78%[11] - Loss attributable to owners of the parent for the six months ended September 30, 2021, was approximately HKD 23.6 million, compared to a profit of approximately HKD 12.9 million for the same period in 2020[16] - For the six months ended September 30, 2021, the company's revenue was approximately HKD 191.3 million, a decrease from HKD 211.6 million for the same period in 2020, indicating a stable performance despite the decline[27] - The company reported a pre-tax loss of HKD 23,594 for the six months ended September 30, 2021, compared to a profit of HKD 15,442 for the same period in 2020[92] - The company reported a net cash outflow from operating activities of HKD 3,023,000, compared to a net cash inflow of HKD 11,414,000 in the previous year[73] - The company recorded a loss before tax of HKD 23,616,000, a decline from a profit of HKD 15,442,000 in the prior year, reflecting a negative change of 253.5%[64] - Total comprehensive loss for the period was HKD 23,594,000, compared to a total comprehensive income of HKD 12,896,000 in the same period last year[64] Expenses and Costs - Administrative expenses remained relatively stable at approximately HKD 7.7 million for the six months ended September 30, 2021, compared to approximately HKD 7.5 million for the same period in 2020[12] - Financing costs decreased from approximately HKD 145,000 to approximately HKD 64,000, a reduction of about 56%[14] - Income tax credit for the reporting period was approximately HKD 22,000, compared to an income tax expense of approximately HKD 2.5 million for the same period in 2020, a decrease of about 101%[15] - The financing costs for the six months ended September 30, 2021, totaled HKD 64,000, down from HKD 145,000 in the same period of 2020, indicating a reduction of approximately 55.2%[113] Assets and Liabilities - Cash and cash equivalents as of September 30, 2021, were approximately HKD 151.0 million, up from HKD 77.3 million as of March 31, 2021[19] - Total assets minus current liabilities as of September 30, 2021, were approximately HKD 226.1 million, down from HKD 247.6 million as of March 31, 2021[19] - Total assets as of September 30, 2021, amounted to HKD 328,087,000, an increase from HKD 296,919,000 as of March 31, 2021, representing an increase of approximately 10.5%[97] - Total liabilities as of September 30, 2021, were HKD 106,695,000, compared to HKD 51,933,000 as of March 31, 2021, indicating a significant increase of approximately 105.5%[97] - Non-current assets decreased to HKD 25,122,000 from HKD 30,960,000, a reduction of approximately 18.8%[66] - Current assets increased to HKD 302,965,000 from HKD 265,959,000, representing an increase of about 13.9%[66] Company Operations and Strategy - The company is facing challenges in the upcoming year due to increased competition, a shortage of skilled labor, and rising labor costs, as the Hong Kong economy continues to recover from the COVID-19 pandemic[28] - The company plans to continue providing high-quality engineering services to enhance its competitiveness in the construction market[30] - The company has diversified its operations to include trading and brokerage services, identifying two reportable segments: construction services and trading and brokerage[91] - Revenue from construction services in the private sector for the six months ended September 30, 2021, was HKD 179,729,000, up from HKD 158,676,000 in the same period of 2020, reflecting an increase of about 13.3%[110] Shareholder Information - The company proposed not to declare any interim dividend for the six months ended September 30, 2021[17] - Mr. Ye Zhi Ming holds 750,000,000 shares, representing 75.0% of the company's equity, through Silver Wave Enterprises Limited[50] - Ms. Wang Fang Cai, spouse of Mr. Ye Zhi Ming, also holds 750,000,000 shares, representing 75.0% of the company's equity[53] - The company's issued share capital remained at 1,000,000,000 shares as of September 30, 2021, with a total value of HKD 10,000[150] Management and Governance - Mr. Chan Hau Tak resigned as an independent non-executive director and member of the audit committee effective April 30, 2021[45] - Mr. Tang Chi Hong was appointed as an independent non-executive director and member of the audit committee effective April 30, 2021[45] - The audit committee consists of three members: Mr. Bao Zhi Hai, Mr. Tang Chi Hong, and Mr. Luo Zhi Hong, with Mr. Luo serving as the chairman[46] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021, and confirmed compliance with applicable accounting standards and listing rules[49] Acquisitions and Investments - The company completed an acquisition of a subsidiary, resulting in a cash inflow of HKD 2,690,000 during the investment activities[73] - The company acquired 100% equity of Huanghe Securities Limited during the reporting period[79] - The acquisition of Huanghe Securities was completed for a cash consideration of approximately HKD 7,357,000[145] - As of the acquisition date, the identifiable assets and liabilities of Huanghe had a fair value of HKD 78,715,000 in cash and cash equivalents, and total liabilities of HKD 78,444,000[146] - Huanghe contributed approximately HKD 56,000 in revenue and incurred a loss of about HKD 456,000 for the six months ending September 30, 2021[147] Financial Reporting and Compliance - The company continues to apply the same accounting policies as in the previous annual financial statements, with no significant impact from new accounting standards adopted[81] - The financial statements are prepared in accordance with Hong Kong Accounting Standards and have been reviewed by the audit committee[84] - The company has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[89] - The group confirmed no adjustments to basic earnings per share due to the absence of potentially dilutive ordinary shares during the reporting periods[123] Other Information - There were no significant acquisitions or disposals of subsidiaries or associates during the reporting period[31] - The company has not held any significant investments during the reporting period[32] - The company has not disclosed any new product developments or market expansions in the current report[173] - There are no updates on mergers or acquisitions in the recent reporting period[173] - The report does not provide any future guidance or performance outlook[173] - No significant events occurred after the reporting period[173] - The report indicates that there are no significant changes in the financial position of the company after the reporting period[173] - The company continues to maintain a stable financial position with no major liabilities reported[173] - The financial instruments listed are primarily operational and do not reflect long-term investments[172]