Financial Performance - Revenue for the six months ended 30 September 2021 was HK$32,644,000, an increase of 8.9% compared to HK$29,939,000 for the same period in 2020[8]. - Gross profit for the six months ended 30 September 2021 was HK$5,924,000, a decrease of 8.8% from HK$6,494,000 in the previous year[8]. - Loss before tax for the six months was HK$6,839,000, compared to a loss of HK$3,960,000 for the same period in 2020, representing a 72.5% increase in loss[10]. - Loss attributable to owners of the Company for the period was HK$6,839,000, up from HK$3,960,000 in the prior year, indicating a significant increase in losses[10]. - Basic and diluted loss per share for the six months was HK$0.04, compared to HK$0.06 for the same period in 2020[10]. - The total comprehensive loss for the period attributable to owners of the Company was HK$6,840,000, compared to HK$3,978,000 in the prior year, reflecting a 72.5% increase[10]. - The company reported a loss for the period of HK$6,839,000 for the six months ended September 30, 2021, compared to a loss of HK$3,960,000 for the same period in 2020, reflecting an increase in losses of approximately 72.5%[18]. - The Group recorded a loss for the period of approximately HK$6.8 million, an increase of approximately HK$2.8 million compared to a loss of HK$4.0 million in the same period last year[153]. Revenue Breakdown - Revenue from design, fitting out, and engineering services for the six months ended 30 September 2021 was HK$17,534,000, a decrease of 5.8% from HK$18,622,000 in 2020[46]. - Revenue from leasing of construction equipment increased significantly to HK$6,852,000 for the six months ended 30 September 2021, up 98.5% from HK$3,452,000 in 2020[46]. - Sale of fine and rare wines generated revenue of HK$7,979,000 for the six months ended 30 September 2021, an increase of 6.8% compared to HK$7,473,000 in 2020[46]. - Revenue from public housing maintenance and refurbishment works amounted to approximately HK$9.2 million, representing about 52.6% of the segment revenue for the current period, with a growth of approximately 37.3%[155]. Expenses and Costs - Administrative expenses increased to HK$12,562,000 for the six months ended 30 September 2021, up from HK$10,679,000 in the previous year, reflecting a rise of 17.6%[8]. - Interest income from money lending decreased to HK$272,000 for the six months ended 30 September 2021, down 28.2% from HK$379,000 in 2020[42]. - The company reported unallocated central administrative costs of HK$4,887,000 for the six months ended 30 September 2021[46]. - Salaries and wages included in cost of sales for the six months ended 30 September 2021 amounted to HK$5,805,000, an increase of 5.7% from HK$5,493,000 in the same period of 2020[64]. - Depreciation of property, plant, and equipment for the six months ended 30 September 2021 was approximately HK$4,081,000, up from HK$2,900,000 in the same period of 2020, representing a 40.4% increase[64][65]. Assets and Liabilities - As of September 30, 2021, total assets less current liabilities amounted to HK$93,699,000, a decrease from HK$102,240,000 as of March 31, 2021, representing a decline of approximately 8.5%[13]. - The total equity as of September 30, 2021, was HK$86,644,000, down from HK$93,484,000 as of March 31, 2021, representing a decline of approximately 7.3%[15]. - The company experienced a net cash outflow from operating activities of HK$3,228,000 for the six months ended September 30, 2021, compared to a net inflow of HK$1,396,000 for the same period in 2020[20]. - Cash and cash equivalents at the end of the period were HK$9,013,000, down from HK$16,728,000 at the beginning of the period, marking a decrease of about 46.0%[20]. - The Group's total equity attributable to owners amounted to approximately HK$86.6 million as of 30 September 2021, down from HK$93.5 million as of 31 March 2021[174]. Segment Information - For the three months ended 30 September 2021, total segment revenue was HK$16,439,000, an increase of 16.9% compared to HK$14,014,000 in the same period of 2020[42]. - The segment loss for leasing of construction equipment was HK$1,616,000 for the six months ended 30 September 2021, compared to a loss of HK$2,166,000 in the same period of 2020[46]. - The Group is engaged in multiple segments including design, fitting out and engineering services, leasing of construction equipment, sourcing and merchandising of fine wines, and provision of financial services[132]. Financial Management and Strategy - The Group has acknowledged the potential risks associated with investing in small and mid-sized companies listed on GEM, emphasizing the importance of careful consideration by prospective investors[2]. - The Group continues to adopt a prudent management approach in its financial services business to minimize credit risk exposure[167]. - The Group is optimistic about securing further public housing estates works and services through active negotiations with contractors for new term contracts[155]. - The Group expects significant growth potential in rental income from the leasing of construction equipment due to an increase in customers and projects[165]. Shareholder Information - The Group did not recommend the payment of an interim dividend for the six months ended September 30, 2021, consistent with the previous year[79]. - The Company completed a share consolidation on 18 November 2020, reducing the issued shares by 470,340,000[114]. - The Company raised approximately HK$31.4 million before expenses through a rights issue of 104,520,000 rights shares at a subscription price of HK$0.30 per share[114]. - The weighted average number of ordinary shares for the purpose of basic and diluted loss per share for the three months ended 30 September 2021 was 156,780,000, compared to 67,548,000 for the same period in 2020, reflecting a significant increase in shares[75]. Compliance and Reporting - The financial statements for the year ended 31 March 2021 have been delivered to the Registrar of Companies as required by the Companies Ordinance[27]. - The Group has adopted new standards and interpretations effective from 1 April 2021, including amendments to HKAS 39 and HKFRSs 4, 7, 9, and 16, related to Interest Rate Benchmark Reform – Phase 2[31]. - The Group's auditor reported on the consolidated financial statements for the year ended 31 March 2021, with an unqualified report[28]. - The significant accounting policies used in the preparation of the Group's condensed consolidated financial statements for the six months ended 30 September 2021 are consistent with those adopted in the previous year[30].
中新控股(08125) - 2022 - 中期财报