Revenue and Profitability - For the six months ended September 30, 2020, the company's revenue was approximately HKD 208.9 million, a decrease of about HKD 182.3 million or 46.6% compared to HKD 391.2 million for the same period in 2019[8]. - Revenue for the six months ended September 30, 2020, was HKD 208,898,000, a decrease of 46.5% compared to HKD 391,215,000 for the same period in 2019[48]. - Gross profit for the same period was HKD 43,725,000, down 6.0% from HKD 46,539,000 in 2019[48]. - Profit before tax was HKD 27,485,000, a decrease of 9.5% from HKD 30,402,000 in the previous year[48]. - Net profit for the period was HKD 23,198,000, down 11.0% from HKD 26,095,000 in 2019[48]. - Basic and diluted earnings per share were HKD 3.87, compared to HKD 4.35 in the same period last year, reflecting a decline of 11.0%[48]. - The total comprehensive income for the period was HKD 23,861,000, down from HKD 26,003,000 in the previous year, indicating a decline of about 8.2%[57]. Assets and Liabilities - Current assets as of September 30, 2020, were approximately HKD 397.978 million, compared to HKD 382.155 million as of March 31, 2020[16]. - Total assets as of September 30, 2020, were HKD 397,978,000, an increase from HKD 382,155,000 as of March 31, 2020[50]. - Current assets increased to HKD 200,106,000 from HKD 191,591,000, indicating a growth of 4.0%[50]. - Non-current assets decreased to HKD 49,759,000 from HKD 51,783,000, a decline of 3.9%[50]. - The total value of uncompleted contracts was approximately HKD 1,029 million, indicating ongoing project opportunities[6]. - The company's debt-to-equity ratio was 6.9%, down from 7.7% on March 31, 2020, due to lease liabilities arising from the adoption of HKFRS 16[20]. - The company had no bank borrowings as of September 30, 2020, and maintained an unencumbered bank financing status[23]. - The total trade and other payables amounted to HKD 82,797,000 as of September 30, 2020, down from HKD 99,145,000 as of March 31, 2020, a reduction of 16.5%[106]. Expenses and Costs - The company's administrative and other operating expenses decreased by approximately 6.0% to about HKD 18.9 million from HKD 20.1 million in the previous period[11]. - Financial costs for the period were approximately HKD 0.6 million, a reduction of about 25% from HKD 0.8 million in the previous period[12]. - Total employee benefit expenses for the six months ended September 30, 2020, amounted to approximately HKD 20.3 million, with 186 employees as of the same date[29]. - Employee benefits expenses, including directors' remuneration, increased to HKD 20,263,000 from HKD 18,702,000 in the prior year, marking an increase of approximately 8.3%[83]. - The company incurred depreciation expenses of HKD 3,785,000 for the six months ended September 30, 2020, compared to HKD 3,496,000 in the same period of 2019, representing an increase of about 8.3%[83]. Taxation - The effective tax rate for the period was 15.6%, higher than the previous period's rate of 14.2%[13]. - The total tax expense for the six months ended September 30, 2020, was HKD 4,287,000, slightly down from HKD 4,307,000 in the previous year[85]. Cash Flow and Dividends - Cash generated from operating activities was HKD 41,216,000, a significant improvement from a cash outflow of HKD 648,000 in the prior year[60]. - The company reported a cash and cash equivalents balance of HKD 148,586,000 at the end of the period, up from HKD 47,516,000 at the same time last year, reflecting an increase of approximately 212.5%[60]. - The company paid dividends of HKD 15,000,000 during the period, compared to HKD 9,600,000 in the previous year, marking an increase of 56.3%[60]. - The board did not recommend any interim dividend for the six months ended September 30, 2020, consistent with the previous year[28]. Investments and Acquisitions - The company had no significant investments or acquisitions during the reporting period[25][26]. - There were no purchases, sales, or redemptions of the company's listed shares during the reporting period[37]. Shareholder and Corporate Governance - The company will continue to explore new opportunities beneficial to the group and its shareholders[7]. - The company did not declare any interim dividend for the six months ended September 30, 2020, consistent with the previous year[87]. - The issued and fully paid ordinary shares remained at 600,000,000 as of both September 30, 2020, and March 31, 2020[108]. Risk Management - The company maintained a prudent treasury policy to manage foreign currency risks, with no hedging activities undertaken during the period[21]. - The group has sufficient insurance coverage for potential losses from ongoing litigation, which is not expected to have a significant adverse impact on the financial position[110]. Related Party Transactions - Related party transactions with Biao Yu Technology (Shenzhen) Co., Ltd. amounted to zero for the six months ended September 30, 2020, compared to HKD 1,050 million for the same period in 2019[113].
应力控股(02663) - 2021 - 中期财报