Financial Performance - The Group's revenue for the six months ended September 30, 2021, was approximately HK$95.2 million, a decrease of approximately HK$25.4 million or 21.1% compared to HK$120.6 million for the same period in 2020[18]. - The gross profit for the same period was approximately HK$29.0 million, down from approximately HK$31.2 million in 2020[18]. - The net profit for the six months ended September 30, 2021, was approximately HK$7.5 million, compared to a net profit of approximately HK$15.7 million in 2020[19]. - Profit before tax decreased to HK$8,962,000, representing a decline of 48.5% compared to HK$17,403,000 in the previous year[23]. - Profit attributable to owners of the Company was HK$7,516,000, down 52.3% from HK$15,748,000 in the prior period[23]. - The total comprehensive income for the period was HK$7,516,000, compared to HK$15,748,000 for the same period in 2020, reflecting a decline of 52.3%[34]. - Basic and diluted earnings per share were both HK1.89 cents, a decrease from HK3.98 cents in the same period last year[23]. Dividend and Shareholder Information - The Board does not recommend an interim dividend for the six months ended September 30, 2021, consistent with the previous year[19]. - The final dividend declared for the year ended 31 March 2021 was HK2.73 cents per share, an increase from HK2.0 cents in 2020, with a total distribution of HK$10,988,000[68]. - As of September 30, 2021, Mr. Luk Kam Ming held 157 million shares, representing approximately 39.01% of the company's shareholding[198]. - Mr. Luk Kwai Lung and Mr. Luk Yin Cheung held 138 million shares (34.29%) and 138.6 million shares (34.43%) respectively, both in controlled corporations[198]. Assets and Liabilities - Total non-current assets increased to HK$21,988,000 as of September 30, 2021, compared to HK$16,312,000 as of March 31, 2021[25]. - Total current assets decreased to HK$226,745,000 from HK$237,111,000 as of March 31, 2021[25]. - Total current liabilities decreased to HK$53,458,000 from HK$61,109,000 as of March 31, 2021[28]. - Net assets as of September 30, 2021, were HK$188,712,000, a slight decrease from HK$191,811,000 as of March 31, 2021[28]. - The company's equity attributable to owners decreased to HK$188,712,000 as of September 30, 2021, from HK$191,811,000 at the end of March 2021, a decline of 1.6%[34]. - Total liabilities increased to HK$16,005,000 as of 30 September 2021, up from HK$12,699,000 as of 31 March 2021[86]. Cash Flow and Investments - For the six months ended September 30, 2021, the net cash from operating activities was HK$4,356,000, a decrease of 79.3% compared to HK$21,101,000 for the same period in 2020[34]. - The net cash flows used in investing activities amounted to HK$8,710,000, compared to HK$11,748,000 in the previous year, indicating a decrease of 26.0%[34]. - The net cash flows used in financing activities were HK$13,890,000, an increase of 27.1% from HK$10,911,000 in the prior year[34]. - As of September 30, 2021, cash and cash equivalents were HK$90,557,000, down from HK$108,801,000 at the beginning of the period, representing a decrease of 16.7%[34]. - The Group has pledged approximately HK$13.8 million in bank deposits and HK$5.5 million in life insurance investments to secure general banking facilities[173]. Operational Highlights - The Group's principal activity remains investment holding, with subsidiaries engaged in mechanical and electrical engineering solutions and services[36]. - The Group submitted 214 tenders and quotations during the six months ended 30 September 2021, an increase from 168 in the same period in 2020, with 55 contracts awarded[120]. - The Group is expecting to secure more contracts related to the Automatic Fare Collection system in the coming months[105]. - Major projects in progress included the installation of lane equipment for the ePayment system for the Cross Harbour Tunnel and the replacement of automatic fare collection gates for various railway lines[106]. Compliance and Governance - The financial report is prepared in compliance with the GEM Listing Rules, ensuring accuracy and completeness of the information provided[4]. - The Group has maintained compliance with all applicable provisions of the Corporate Governance Code during the six months ended September 30, 2021[185]. - The audit committee reviewed the unaudited condensed consolidated results for the six months ended September 30, 2021, and confirmed compliance with applicable accounting standards[187]. Market Position and Risks - The Company is positioned in the GEM market, which is designed for small and mid-sized companies, indicating a higher investment risk[1]. - The securities traded on GEM may experience higher market volatility compared to those on the Main Board[2]. - The financial highlights indicate a challenging market environment impacting revenue and profit margins[18].
高萌科技(08065) - 2022 - 中期财报