Financial Performance - For the six months ended September 30, 2020, the company reported a revenue of HKD 17,994,000, compared to HKD 14,824,000 for the same period in 2019, representing a year-over-year increase of 21.6%[4] - The gross profit for the period was HKD 196,000, a significant decrease from HKD 3,686,000 in the previous year, indicating a decline of 94.7%[4] - The company incurred a loss before tax of HKD 3,956,000, compared to a loss of HKD 1,733,000 in the same period last year, reflecting an increase in losses of 128.5%[4] - Total comprehensive loss attributable to owners of the company for the period was HKD 3,956,000, compared to HKD 1,839,000 in the previous year, marking an increase of 115.5%[4] - The company reported a loss attributable to owners of the company of HKD 5,714,000 for the six months ended September 30, 2020, compared to a loss of HKD 1,839,000 for the same period in 2019[24] - The group recorded a net loss attributable to the owners of approximately HKD 5.7 million for the period, compared to a loss of HKD 1.8 million for the same period in 2019[48] Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD 4,794,000, an improvement from HKD 9,000,000 in the prior year[13] - As of September 30, 2020, the company's total assets amounted to HKD 14,770,000, down from HKD 23,082,000 as of March 31, 2020, indicating a decrease of 36.2%[6] - The company's cash and cash equivalents decreased to HKD 1,717,000 from HKD 11,149,000, representing a decline of 84.6%[13] - The total equity attributable to owners of the company was HKD 5,264,000, down from HKD 10,978,000 as of March 31, 2020, reflecting a decrease of 52.0%[6] - As of September 30, 2020, the group's net current assets were approximately HKD 2.9 million, with cash and bank balances of about HKD 1.7 million[49] Operational Highlights - The company has not reported any new product launches or technological advancements during this period[4] - There are no indications of market expansion or mergers and acquisitions in the current report[4] - The company has not declared any interim dividend for the period ended June 30, 2020, consistent with the previous year[22] - The company has no new lease agreements signed during the reporting period, and no acquisitions or disposals of property, plant, and equipment were made[25] - The company has a single operating segment, with all operations conducted in Hong Kong, and all revenue generated from this region[20] Receivables and Payables - Total trade receivables as of September 30, 2020, amounted to HKD 3,832,000, a decrease from HKD 4,650,000 as of March 31, 2020[29] - The company did not provide any credit terms to its customers, with trade receivables aging analysis showing HKD 1,367,000 within 30 days[31] - The company’s total other receivables increased to HKD 7,218,000 as of September 30, 2020, from HKD 3,292,000 in the previous period[27] - The company reported trade payables of HKD 950,000 as of September 30, 2020, with contract liabilities increasing to HKD 3,563,000 from HKD 430,000 as of March 31, 2020[34] Employee and Governance - The group has 28 employees as of September 30, 2020, down from 32 in 2019, with total employee and director remuneration for the period amounting to approximately HKD 9.0 million[51] - The group complied with all corporate governance code provisions during the reporting period, except for the separation of the roles of Chairman and CEO[67] - The group’s independent non-executive directors actively contributed to the board's affairs and promoted a culture of open communication[67] - The company has adopted a standard code of conduct for securities trading, confirming compliance by all directors during the reporting period[75] Legal and Financial Agreements - The company has issued a legal notice to former directors regarding alleged debts totaling HKD 5.8 million, with potential legal actions pending[37] - The company has entered into an unsecured loan agreement with a limit of HKD 10.0 million at an annual interest rate of 12%[37] - As of September 30, 2020, the group had no mortgages arranged with any Hong Kong financial institutions, consistent with the previous year[52] - The group faced minimal foreign exchange risk as its revenue and business costs were primarily denominated in Hong Kong dollars, and no financial instruments were used for hedging[52] Future Outlook and Strategy - The company plans to expand its range of construction-related services to capture new market opportunities and ensure long-term development[42] - The group aims to minimize risk exposure by negotiating with subcontractors, reducing expenses, and closely monitoring receivables due to the uncertain impact of COVID-19[43] Board and Shareholder Information - As of September 30, 2020, Mr. Pan held 194,800,000 shares, representing 46.60% of the voting rights in the company[57] - The group’s major shareholders included Energetic Way Limited, which held 194,800,000 shares, also representing 46.60% of the voting rights[60] - Changes in the board of directors include the appointment of Ms. Chan Yuk-Chan to the remuneration committee on November 2, 2020[76] - The executive directors as of the report date include Mr. Pan Kai-Jie and Ms. Sin Pui-Ying, along with independent non-executive directors[78] Audit and Review - The financial data for the group during this period has not been reviewed or audited by the company's auditor[78] - No major events affecting the group's business or financial performance were reported after the period ending September 30, 2020[54] - The company has not granted any share options since the adoption of the share option scheme on December 12, 2016[63] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the reporting period[75]
中国来骑哦(08039) - 2021 - 中期财报