Financial Performance - For the six months ended February 28, 2021, ECI Technology Holdings Limited reported revenue of approximately HKD 70,532,000, an increase of 16.5% compared to HKD 60,612,000 for the same period in 2020[11]. - The gross profit for the same period was approximately HKD 13,825,000, a decrease of 14.4% from HKD 16,175,000 in 2020[11]. - The net profit after tax for the period was approximately HKD 6,447,000, significantly up from HKD 2,128,000 in 2020, primarily due to government subsidies received under the "Employment Support Scheme"[11]. - Operating profit for the six months ended February 28, 2021, was HKD 6,656,000, significantly up from HKD 2,881,000 in the same period of 2020, marking an increase of 131.5%[18]. - The company reported a net profit attributable to owners of HKD 6,447,000 for the six months ended February 28, 2021, compared to HKD 2,128,000 in the same period of 2020, reflecting a 203.5% increase[18]. - The group reported a profit before tax of HKD 6,521,000 for the six months ended February 28, 2021, compared to HKD 2,760,000 for the same period in 2020, representing a significant increase[39]. - The company reported a profit of 935,000 HKD for the three months ended February 28, 2021, compared to 1,861,000 HKD for the same period in 2020, representing a decrease of approximately 50.2%[52]. Revenue Breakdown - Maintenance service revenue for the six months ended February 28, 2021, was HKD 37,131,000, up 39.9% from HKD 26,545,000 in the previous year[35]. - Installation service revenue decreased to HKD 31,055,000 for the six months ended February 28, 2021, from HKD 31,169,000 in the same period of 2020, reflecting a slight decline of 0.4%[35]. - Security guard service revenue for the six months ended February 28, 2021, was HKD 2,346,000, down 19% from HKD 2,898,000 in the previous year[35]. - Total external sales for the installation and maintenance services segment reached HKD 68,186,000 for the six months ended February 28, 2021, compared to HKD 57,714,000 in the same period of 2020, marking a growth of 18.5%[41]. Assets and Liabilities - Trade receivables increased to HKD 31,934,000 as of February 28, 2021, up from HKD 22,872,000 in the previous year, indicating a 39.7% growth[19]. - Total assets as of February 28, 2021, were HKD 70,676,000, compared to HKD 62,538,000 in the previous year, representing a 13.5% increase[19]. - The total equity attributable to owners increased to HKD 62,228,000 as of February 28, 2021, up from HKD 55,781,000 in the previous year, reflecting a 11.5% increase[22]. - The company reported a total lease liability of 4,476,000 HKD as of February 28, 2021, compared to 3,408,000 HKD as of August 31, 2020, marking an increase of approximately 31.3%[60]. - The total trade payables as of February 28, 2021, were HKD 4,880,000, an increase of 42.5% from HKD 3,431,000 as of August 31, 2020[80]. - The company's bank borrowings as of February 28, 2021, were HKD 3,506,000, down from HKD 5,375,000 as of August 31, 2020, reflecting a decrease of 34.7%[82]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 3,221,000 for the six months ended February 28, 2021, compared to a cash outflow of HKD 2,673,000 in the same period of 2020[24]. - Cash and cash equivalents at the end of the period were HKD 23,018,000, slightly down from HKD 23,502,000 at the end of the previous period[24]. - The cash outflow for lease payments during the six months ended February 28, 2021, was approximately HKD 2,088,000, compared to HKD 1,371,000 for the same period in 2020, representing a 52.2% increase[64]. Dividends and Shareholder Information - The board of directors does not recommend the payment of an interim dividend for the period[12]. - The company did not declare or recommend any dividends for the six months ended February 28, 2021, and there have been no dividends proposed since the reporting date[54]. - The total number of issued shares as of February 28, 2021, is 1,600,000,000[129]. - Dr. Wu Tai-wing and Ms. Wang Zhiwen each hold 880,000,000 shares, representing approximately 55% of the total issued shares[123]. - ECI Asia Investment Limited, a related corporation, holds 880,000,000 shares, also representing approximately 55% of the total issued shares[127]. - Mr. Yang Shuo holds 320,000,000 shares, representing approximately 20% of the total issued shares[127]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, with the exception of deviation from rule A.2.1 regarding the separation of roles of Chairman and CEO[135]. - The Audit Committee, established on February 10, 2017, consists of four independent non-executive directors and is responsible for reviewing financial statements and overseeing internal controls[140]. - The company has confirmed compliance with the required trading standards for directors as per GEM Listing Rules from the period ending February 28, 2021, to the report date[138]. Future Plans and Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[25]. - The company aims to enhance its market share and reputation by expanding its maintenance service division in response to the stagnation in demand for installation and replacement of security systems[96]. - The company plans to invest continuously in developing its internal capabilities and collaborating with business partners to provide integrated one-stop solutions and security services[99].
ECI TECH(08013) - 2021 - 中期财报