Financial Performance - The total revenue for the six months ended September 30, 2020, was approximately HKD 515.9 million, an increase of about HKD 96.5 million or 23.0% compared to HKD 419.4 million for the same period in 2019[13]. - The profit and total comprehensive income for the six months ended September 30, 2020, was approximately HKD 13.6 million, an increase of about HKD 2.2 million or 19.3% compared to HKD 11.4 million for the same period in 2019[19]. - Basic and diluted earnings per share for the six months ended September 30, 2020, were 1.34 HKD cents, compared to 1.13 HKD cents for the same period in 2019[20]. - The group recorded a gross profit of approximately HKD 37.3 million for the six months ended September 30, 2020, compared to HKD 46.6 million for the same period in 2019[25]. - The company reported a net profit of HKD 13,622,000 for the six months ended September 30, 2020, compared to HKD 11,407,000 for the same period in 2019, reflecting a year-on-year increase of 19.4%[34]. - Gross profit decreased by approximately HKD 9.3 million or 20.0% to about HKD 37.3 million for the six months ended September 30, 2020, with a gross margin of 7.2%, down from 11.1% in the previous year[70]. Dividends - The board declared an interim dividend of 0.35 HKD cents per share for the six months ended September 30, 2020, compared to 0.3 HKD cents per share for the same period in 2019[21]. - The company declared an interim dividend of HKD 0.35 per share for the six months ended September 30, 2020, compared to HKD 0.30 per share for the same period in 2019[53]. - The interim dividend checks will be sent to shareholders around December 21, 2020[145]. - The company will suspend the registration of share transfers from December 10 to December 11, 2020, to qualify for the interim dividend[144]. Assets and Liabilities - Trade and other receivables increased to HKD 111.3 million as of September 30, 2020, from HKD 93.2 million as of March 31, 2020[28]. - The group's non-current assets totaled HKD 62.3 million as of September 30, 2020, compared to HKD 61.7 million as of March 31, 2020[28]. - The total assets less current liabilities amounted to HKD 134,922,000 as of September 30, 2020, up from HKD 124,702,000 as of March 31, 2020[30]. - Cash and cash equivalents increased to HKD 88,115,000 as of September 30, 2020, compared to HKD 63,337,000 at the end of the same period in 2019[37]. - The company’s liabilities decreased slightly, with total current liabilities at HKD 386,510,000 as of September 30, 2020, down from HKD 396,680,000 as of March 31, 2020[30]. - As of September 30, 2020, the group's total assets were approximately HKD 521.5 million, with total liabilities and equity of approximately HKD 389.9 million and HKD 131.6 million, respectively, maintaining a current ratio of about 1.2[78]. - The capital debt ratio as of September 30, 2020, was approximately 122.4%, down from about 130.8% as of March 31, 2020, based on total interest-bearing debt of approximately HKD 161.1 million and total equity of approximately HKD 131.6 million[79]. Operational Challenges - The group experienced challenges due to the COVID-19 pandemic and geopolitical tensions, impacting project execution and material supply[14]. - The management is confident in overcoming challenges posed by COVID-19 and is taking appropriate measures to review project execution[66]. Business Strategy - The group will continue to focus on its core business as a general contractor in Hong Kong, providing various construction services while exploring new business opportunities and potential acquisitions[14]. - The group plans to maintain a cautious approach while exploring opportunities related to property development projects[14]. - The company plans to continue focusing on its core business as a general contractor in Hong Kong while exploring new opportunities and potential acquisitions[66]. Employee and Management Information - Employee costs for the six months ended September 30, 2020, were approximately HKD 30.3 million, a decrease from HKD 39.2 million for the same period in 2019, with a total of 132 employees as of September 30, 2020[91]. - The company has maintained a prudent financial management policy, ensuring a stable liquidity position throughout the six months[81]. - The company has not faced any foreign exchange risks as of September 30, 2020[83]. Share Capital and Governance - As of September 30, 2020, the total issued share capital of the company was 1,013,000,000 shares[107]. - Mr. Wu holds 694,940,000 ordinary shares and 10,000,000 share options, representing 69.59% of the company's equity[104]. - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended September 30, 2020[118]. - The company has a share option plan that allows for the issuance of up to 10% of the total issued shares, which amounts to 100,000,000 shares[126]. - The company has complied with the corporate governance code principles and provisions during the reporting period[119]. - The company’s audit committee consists of three independent non-executive directors, ensuring appropriate accounting and financial management expertise[143]. Stock Options - The company granted a total of 32,500,000 share options under the share option plan, with an exercise price of HK$0.40 per share[123]. - No stock options were exercised or forfeited during the six months ending September 30, 2020[139]. - The stock options are exercisable within a period from November 21, 2018, to November 20, 2027[139]. - The maximum number of stock options granted to any participant cannot exceed 1% of the issued shares[127].
正利控股(03728) - 2021 - 中期财报