Revenue and Profitability - Revenue for the six months ended December 31, 2020, was approximately HKD 174.6 million, a decrease of about HKD 27.6 million or 13.6% compared to HKD 202.2 million in the same period last year[5]. - Gross profit for the period was approximately HKD 11.0 million, slightly up from HKD 10.6 million in the previous year, with a gross profit margin of approximately 6.3% compared to 5.2% in the previous year[13]. - The group recorded a profit of approximately HKD 1.3 million for the period, compared to a loss of HKD 2.2 million in 2019, primarily due to subsidies received from the "Employment Support Scheme" and the reversal of impairment on trade and other receivables[17]. - The company achieved a profit before tax of HKD 1,100,000, a significant improvement from a loss of HKD 2,190,000 in the previous year[46]. - The net profit for the period was HKD 1,258,000, compared to a loss of HKD 2,190,000 in the same period of 2019, marking a turnaround[46]. - Total comprehensive income for the period was HKD 1,258,000, up from HKD 351,000 in the previous year, reflecting a substantial increase[46]. - Basic and diluted earnings per share for the period were HKD 0.022, compared to HKD 0.004 in the same period of 2019, showing a significant improvement[46]. - The company reported a profit of HKD 1,232,000 for the six months ended December 31, 2020, compared to a profit of HKD 244,000 for the same period in 2019, reflecting a significant increase of 404.9%[62]. - Basic earnings per share for the six months ended December 31, 2020, were HKD 0.022, compared to HKD 0.004 for the same period in 2019, marking a rise of 450%[68]. Contracts and Business Operations - The estimated contract value of maintenance contracts as of December 31, 2020, was approximately HKD 552.4 million, down from HKD 553.3 million as of June 30, 2020[6]. - The company successfully secured one maintenance contract during the period with an estimated contract value of approximately HKD 302.2 million[8]. - There were no new renovation service contracts awarded during the period[9]. - The estimated contract value of renovation contracts as of December 31, 2020, remained unchanged at approximately HKD 125.1 million[7]. - The company aims to focus on opportunities in its core business of building maintenance, particularly in the public sector[10]. Financial Position and Cash Flow - As of December 31, 2020, the group's total cash and bank balances amounted to approximately HKD 30.4 million, down from HKD 37.1 million as of June 30, 2020[18]. - The group's debt-to-equity ratio increased to approximately 1.5% as of December 31, 2020, compared to 0.2% as of June 30, 2020, due to an increase in lease liabilities[20]. - The net cash flow from operating activities for the six months ended December 31, 2020, was a negative HKD 3,057 million, compared to a positive HKD 263 million in the same period of 2019[50]. - Cash and cash equivalents decreased to HKD 30,423 million from HKD 37,076 million, a decline of approximately 17.8%[50]. - The company's total equity increased to HKD 151,682 million from HKD 150,424 million, reflecting a growth of about 0.8%[48]. - Total liabilities increased to HKD 111,509 million from HKD 100,831 million, marking an increase of approximately 10.7%[48]. - Total liabilities as of December 31, 2020, were HKD 112,989,000, up from HKD 101,752,000 as of June 30, 2020, indicating an increase of about 11.9%[58]. Administrative and Other Expenses - Administrative expenses decreased by approximately HKD 0.31 million or 2.2% to approximately HKD 13.9 million compared to HKD 14.2 million in the previous year[15]. - Financing costs decreased by approximately HKD 29,000 or 45.3% to approximately HKD 35,000 due to reduced bank borrowings[16]. - Other income included a subsidy of approximately HKD 3.21 million from the Hong Kong government's "Employment Support Scheme" during the period[14]. - The total short-term benefits and retirement benefits for key management personnel for the six months ended December 31, 2020, amounted to HKD 2,797,000, a decrease from HKD 4,970,000 for the same period in 2019[82]. Corporate Governance and Compliance - The board of directors was restructured, and compliance with listing rules was restored following the appointment of new independent non-executive directors[41]. - The company has adopted and complied with all corporate governance code provisions during the period[42]. - The company did not recommend the payment of an interim dividend for the six months ended December 31, 2020, consistent with the previous year[28]. Assets and Liabilities - Non-current assets as of December 31, 2020, totaled HKD 3,287 million, a decrease from HKD 3,845 million as of June 30, 2020, representing a decline of approximately 14.5%[47]. - Current assets increased to HKD 258,710 million from HKD 247,891 million, reflecting an increase of about 4.9%[47]. - The group had no significant contingent liabilities as of December 31, 2020, and no major events affecting the group occurred after the reporting period[27][25]. - The group’s lease liabilities amounted to approximately HKD 617,000 as of December 31, 2020, compared to none as of June 30, 2020[18]. - The company acquired property, plant, and equipment worth approximately HKD 219,000 during the six months ended December 31, 2020[69]. - As of December 31, 2020, the performance guarantee deposit was HKD 1,250,000, unchanged from June 30, 2020[79]. - As of December 31, 2020, the group has pledged bank deposits of approximately HKD 1,261,000, a decrease from HKD 1,435,000 as of June 30, 2020[80]. - The group has financing lease obligations secured by the ownership of rental vehicles valued at approximately HKD 917,000 as of December 31, 2020, compared to zero as of June 30, 2020[80].
中国供应链产业(03708) - 2021 - 中期财报