Financial Performance - Revenue for the six months ended June 30, 2021, increased by approximately 11.9% to about HKD 97.7 million, compared to HKD 87.3 million for the same period in 2020[7]. - Gross profit for the same period rose by approximately 8.0% to about HKD 17.3 million, with a gross margin of approximately 17.7%, down from 18.4% in the previous year[17]. - Profit attributable to equity holders for the six months ended June 30, 2021, was approximately HKD 10.6 million, compared to HKD 9.4 million for the same period in 2020[7]. - Profit and total comprehensive income increased by approximately 12.9% from HKD 9.4 million for the six months ended June 30, 2020, to approximately HKD 10.6 million for the same period in 2021[27]. - The company reported a total comprehensive income of HKD 9,370,000 for the period, compared to HKD 25,748,000 for the same period in 2020, reflecting a decrease in profitability[101]. - The company's basic and diluted earnings per share for the period were HKD 1.21, slightly down from HKD 1.25 in the previous year[91]. - The company reported a pre-tax profit before income tax of HKD 97,694,000 for the six months ended June 30, 2021, compared to HKD 87,308,000 in the same period of 2020[139]. Dividends - The company declared an interim dividend of HKD 28.8 million, amounting to HKD 0.288 per share, for the period[7]. - The company declared an interim dividend of HKD 28.8 million for the period from January 1, 2021, to March 29, 2021, compared to HKD 15.0 million for the same period in 2020[53]. - No additional interim dividends were declared for the six months ending June 30, 2021, beyond the aforementioned amount[53]. Assets and Liabilities - Current assets net value as of June 30, 2021, was approximately HKD 144.6 million, up from HKD 56.2 million as of December 31, 2020[28]. - As of June 30, 2021, total assets amounted to HKD 232,251,000, a decrease from HKD 239,461,000 as of December 31, 2020[95]. - The company's total liabilities decreased significantly from HKD 183,254,000 at the end of 2020 to HKD 87,686,000 as of June 30, 2021, indicating a reduction of approximately 52.1%[95]. - The equity attributable to the company's equity holders increased to HKD 147,001,000 as of June 30, 2021, compared to HKD 54,115,000 at the end of 2020, representing a growth of approximately 171.5%[97]. - Trade receivables as of June 30, 2021, amounted to HKD 112,734,000, a decrease from HKD 152,073,000 as of December 31, 2020[152]. - Trade payables decreased from HKD 108,859,000 as of December 31, 2020, to HKD 55,215,000 as of June 30, 2021, representing a reduction of approximately 49.3%[20]. Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2021, was HKD (38,570,000), a decrease from HKD 12,616,000 in the previous year[107]. - The company raised HKD 140,000,000 from the issuance of new shares during the financing activities, significantly contributing to a net cash inflow of HKD 99,480,000 from financing activities[107]. - The cash and cash equivalents at the end of the period were HKD 25,590,000, up from HKD 5,015,000 at the end of the same period in 2020, indicating a substantial increase in liquidity[107]. - The company's operating cash flow remains negative, indicating challenges in generating cash from core operations[107]. Business Operations - The company’s main business involves investment holding and providing repair, maintenance, alteration, and addition (RMAA) services in Hong Kong[111]. - The company aims to strengthen its market position and increase market share in the RMAA sector, driven by mandatory inspection regulations and the revitalization of old buildings[15]. - The company plans to continue expanding its market presence and exploring new business opportunities in the RMAA sector[111]. - The group anticipates that the impact of the COVID-19 pandemic on ongoing project progress will not be severe, based on discussions with major clients[15]. - The company is engaged in long-term contracts for RMAA engineering services, with all contracts being fixed-price agreements[130]. Expenses and Costs - Administrative expenses increased from approximately HKD 3.4 million for the six months ended June 30, 2020, to approximately HKD 4.1 million for the same period in 2021, representing a 20.3% increase[23]. - Financing costs rose to approximately HKD 0.2 million for the six months ended June 30, 2021, compared to HKD 47,000 for the same period in 2020, an increase of HKD 145,000[24]. - Employee benefits expenses rose to HKD 4,060,000, up 24.4% from HKD 3,263,000, reflecting increased salaries and benefits[139]. Shareholder Information - The major shareholder, 富泽企业, holds a 75% stake in the company, with the beneficial owner being Mr. 杨, who also holds a 75% interest[72]. - The company has adhered to the corporate governance code as per the listing rules since its listing date on March 31, 2021[57]. - The company has not entered into any related party transactions that require disclosure under the Listing Rules during the reporting period[80]. Future Plans and Investments - The planned use of net proceeds includes upgrading construction equipment and enhancing safety measures, with an allocation of HKD 57.5 million, expected to be utilized by December 2022[50]. - The company aims to further strengthen its workforce with an allocation of HKD 7.5 million, of which HKD 0.2 million has been utilized[50]. - The group plans to focus on promoting the use of metal scaffolding systems to enhance safety and productivity in construction[15].
盈汇企业控股(02195) - 2021 - 中期财报