Financial Performance - The group's revenue increased by approximately 118.3% to about HKD 479.1 million for the six months ended September 30, 2021, compared to approximately HKD 219.5 million for the same period in 2020[10]. - Gross profit rose by approximately 115.7% to about HKD 48.1 million, with a slight decrease in gross margin from 10.2% to 10.0%[11]. - The total comprehensive income for the period was approximately HKD 28.6 million, representing an increase of about 44.4% from approximately HKD 19.8 million in the previous year[16]. - The net profit for the period was HKD 28,613,000, up from HKD 19,772,000 in the previous year, reflecting an increase of approximately 45%[102]. - Basic and diluted earnings per share increased to HKD 1.79 from HKD 1.65, marking a growth of about 8.5%[102]. - For the six months ended September 30, 2021, the company reported contract revenue from construction services of HKD 479,108,000, a significant increase of 118% compared to HKD 219,494,000 in the same period of 2020[137]. Assets and Liabilities - Total assets as of September 30, 2021, amounted to HKD 444,877,000, compared to HKD 370,939,000 as of March 31, 2021, representing an increase of approximately 20%[104]. - The company’s total liabilities increased to HKD 186,511,000 from HKD 138,465,000, which is an increase of approximately 35%[104]. - The company’s total liabilities decreased to HKD 140,535,000 as of September 30, 2021, from HKD 251,261,000 as of the previous year[120]. - The company’s issued share capital increased to HKD 100,000,000 as of September 30, 2021, from HKD 99,620,000 as of March 31, 2021, reflecting a growth of 0.4%[179]. Cash Flow - The net cash used in operating activities for the six months ended September 30, 2021, was HKD (15,048,000), compared to a net cash inflow of HKD 16,266,000 in the same period of 2020[124]. - The company experienced a net cash outflow from investing activities of HKD (12,441,000) for the six months ended September 30, 2021, compared to HKD (2,956,000) in the same period of 2020[124]. - The company reported a net cash inflow from financing activities of HKD 4,236,000 for the six months ended September 30, 2021, compared to a net cash outflow of HKD (32,132,000) in the same period of 2020[124]. Expenses and Costs - Administrative and other operating expenses increased to approximately HKD 13.9 million from HKD 12.2 million in the previous year, mainly due to higher employee costs post-listing[14]. - The total employee cost for the six months ended September 30, 2021, was approximately HKD 82.4 million, an increase from HKD 52.3 million for the same period in 2020, with the number of employees rising to 362 from 304[35]. - Interest expenses related to bank overdrafts decreased from HKD 187,000 in 2020 to HKD 172,000 in 2021, while bank loans dropped significantly from HKD 183,000 to HKD 15,000[141]. Investments and Capital Expenditures - The group has not made any significant investments or acquisitions in subsidiaries, associates, or joint ventures during the six months ended September 30, 2021[22]. - The group’s capital commitments for property, plant, and equipment as of September 30, 2021, amounted to approximately HKD 2.8 million, down from HKD 4.6 million as of March 31, 2021[24]. - The group acquired property, plant, and equipment for approximately HKD 6,941,000 during the six months ended September 30, 2021, an increase from HKD 4,790,000 in 2020[155]. Shareholder Information - The group declared an interim dividend of HKD 18 million on May 31, 2020, but does not recommend any interim dividend for the six months ended September 30, 2021[34]. - The controlling shareholder, Mr. Xu Jiguang, holds 75% of the company's issued share capital through New Brilliance as of September 30, 2021[93]. - The company has adopted a share incentive plan on November 22, 2021, aimed at retaining and attracting suitable personnel for further development[30]. Compliance and Governance - The company has maintained compliance with the corporate governance code as of September 30, 2021[96]. - The audit committee has reviewed the financial statements for the six months ended September 30, 2021, ensuring adherence to applicable accounting standards[99]. - The company is focused on enhancing transparency and accountability to maintain stakeholder trust and long-term value[96]. Operational Measures - The company has implemented measures to ensure business operations remain unaffected by the ongoing COVID-19 pandemic, maintaining communication with suppliers and clients[8]. - The group has no significant foreign exchange risk as most monetary assets and liabilities are denominated in HKD, and currently has no foreign exchange hedging policy[26]. Other Financial Metrics - The company did not receive any government subsidies during the six months ended September 30, 2021, compared to HKD 10,244,000 in the same period of 2020[140]. - The income tax expense for the six months ended September 30, 2021, was HKD 6,250,000, a substantial increase from HKD 1,764,000 in the same period of 2020[144]. - The profit before tax for the six months ended September 30, 2021, included depreciation of property, plant, and equipment amounting to HKD 5,192,000, compared to HKD 2,763,000 in 2020[146].
誉燊丰控股(02132) - 2022 - 中期财报