Financial Performance - The company recorded a net profit of approximately HKD 19.8 million for the six months ended September 30, 2020, down from HKD 21.7 million in the same period of 2019, representing a decrease of about 8.8%[18]. - Revenue decreased by approximately HKD 104.9 million or 32.3%, from approximately HKD 324.4 million for the six months ended September 30, 2019, to approximately HKD 219.5 million for the same period in 2020[12]. - Gross profit fell by approximately HKD 15.4 million or 40.8%, from approximately HKD 37.7 million to approximately HKD 22.3 million, with the gross profit margin declining from 11.6% to 10.2%[13]. - Profit before tax for the six months ended September 30, 2020, was HKD 21,536,000, a decrease of 15.5% compared to HKD 25,507,000 in 2019[72]. - Total comprehensive income attributable to owners of the company for the period was HKD 19,772,000, down 9.0% from HKD 21,715,000 in 2019[72]. - Profit attributable to owners of the company for the six months ended September 30, 2020, was HKD 19,772,000, a decrease of 8.8% from HKD 21,715,000 in the same period of 2019[110]. Income and Expenses - Other income increased from approximately HKD 0.5 million to approximately HKD 11.8 million, primarily due to wage subsidies from the Hong Kong government's employment support scheme[14]. - Administrative and other operating expenses decreased slightly from approximately HKD 12.3 million to approximately HKD 12.2 million, with adjusted expenses dropping from approximately HKD 10.6 million to approximately HKD 10.2 million[16]. - Income tax expenses decreased by approximately HKD 2.0 million or 52.6%, from approximately HKD 3.8 million to approximately HKD 1.8 million[17]. - The total employee costs for the six months ended September 30, 2020, were approximately HKD 52.3 million, down from HKD 63.1 million for the same period in 2019[34]. - Total financing costs for the six months ended September 30, 2020, were HKD 385,000, an increase of 9.7% compared to HKD 351,000 for the same period in 2019[105]. Assets and Liabilities - As of September 30, 2020, the company had net current assets of approximately HKD 97.1 million and cash and bank balances of approximately HKD 41.0 million[20]. - The total debt of the group, including interest-bearing bank borrowings and bank overdrafts, was approximately HKD 11.2 million, down from HKD 23.0 million as of March 31, 2020[22]. - The group's debt-to-equity ratio as of September 30, 2020, was approximately 9.9%, a decrease from 20.6% as of March 31, 2020[29]. - As of September 30, 2020, total assets amounted to HKD 238,553,000, a decrease from HKD 247,638,000 as of March 31, 2020, representing a decline of approximately 3.5%[75]. - The company’s total liabilities decreased to HKD 74,223,000 as of September 30, 2020, from HKD 84,490,000 as of March 31, 2020, indicating a reduction of about 12.1%[132]. Shareholder Information - The company was successfully listed on the Main Board of the Hong Kong Stock Exchange on October 20, 2020[19]. - As of September 30, 2020, New Brilliance holds 1,200,000,000 shares, representing a 75% equity stake in the company[45]. - Huang Zhuomei, as the spouse of Xu Jiguang, also holds 1,200,000,000 shares, equating to a 75% equity stake[45]. - No major shareholders or significant stakeholders have disclosed any interests or short positions in the company's shares as of the mid-term report date[47]. Operational Highlights - The impact of the COVID-19 pandemic on the company's operations was relatively minor, with no significant difficulties or delays reported in project completions[10]. - The company is focused on expanding its construction engineering services, with ongoing restructuring efforts to enhance operational efficiency[94]. - The company confirmed that all government subsidies received will be used for employee salaries during the subsidy period[104]. - The company has engaged in strategic marketing and expansion through joint ventures in the construction sector, which is considered crucial for business development[153]. Corporate Governance - The company has complied with the corporate governance code since its listing date[64]. - All directors have fully complied with the standards set forth in the code of conduct for securities trading since the company's listing[53]. - The audit committee was established on September 21, 2020, to oversee financial reporting and internal controls[66]. Future Outlook - The company plans to continue monitoring the COVID-19 situation and actively respond to its impact on financial performance and operational results[159]. - The impact of the COVID-19 pandemic on the group's financial performance has been relatively minor as of the mid-report date, although future developments may affect financial results[159].
誉燊丰控股(02132) - 2021 - 中期财报