Financial Performance - Revenue for the six months ended October 31, 2020, was approximately HKD 57.8 million, a decrease of about 53.7% compared to HKD 124.9 million for the same period in 2019[8]. - Loss attributable to equity holders for the six months ended October 31, 2020, was approximately HKD 4.2 million, compared to a profit of HKD 0.1 million for the same period in 2019[8]. - Basic and diluted loss per share for the six months ended October 31, 2020, was approximately HKD 2.52 cents, compared to earnings of HKD 0.07 cents per share for the same period in 2019[8]. - Gross profit for the six months ended October 31, 2020, was approximately HKD 0.9 million, a decrease of about 87.1% from HKD 7.0 million for the same period in 2019[17]. - Gross profit margin decreased from approximately 5.6% for the six months ended October 31, 2019, to about 1.5% for the same period in 2020[17]. - The company recorded a net loss of approximately HKD 4.2 million for the six months ended October 31, 2020, compared to a net profit of HKD 0.1 million for the same period in 2019[21]. - For the six months ended October 31, 2020, the company reported a revenue of HKD 80,081,000, a decrease of 6.4% compared to HKD 124,932,000 for the same period in 2019[53]. - The gross profit for the six months ended October 31, 2020, was HKD 7,026,000, representing a decline of 87.5% from HKD 56,937,000 in the previous year[53]. - The company reported a total comprehensive income of HKD 107,000 for the six months ended October 31, 2019, but incurred a loss of HKD (4,177,000) for the same period in 2020[59]. Costs and Expenses - Direct costs for the six months ended October 31, 2020, were approximately HKD 56.9 million, a decrease of about 51.7% from HKD 117.9 million for the same period in 2019[17]. - Administrative expenses decreased by approximately HKD 0.2 million or about 3.0% to HKD 6.5 million for the six months ended October 31, 2020, compared to HKD 6.7 million for the same period in 2019[18]. - Total employee costs for the six months ended October 31, 2020, were HKD 6,575,000, a decrease from HKD 11,024,000 in 2019[5]. - Depreciation expenses for the six months ended October 31, 2020, were HKD 665,000, down from HKD 838,000 in 2019[5]. - Financing costs for the six months ended October 31, 2020, were approximately HKD 146,000, an increase from HKD 131,000 for the same period in 2019[20]. Cash Flow and Liquidity - Cash and bank balances decreased by approximately HKD 14.8 million to HKD 14.1 million as of October 31, 2020, from HKD 28.9 million as of April 30, 2020[22]. - The company's cash and bank balances decreased to HKD 14,136,000 from HKD 28,858,000 as of April 30, 2020[57]. - Net cash used in operating activities for the six months ended October 31, 2020, was HKD (18,401,000), an improvement from HKD (23,665,000) in the previous year[62]. - Cash and cash equivalents decreased to HKD 14,136,000 at the end of October 31, 2020, down from HKD 28,858,000 at the beginning of the period[62]. Market and Business Strategy - The company plans to expand its business into other markets in the Asia-Pacific region, including Japan, Thailand, and Singapore[12]. - The company will continue to focus on site formation and renovation works in Hong Kong while enhancing its competitive advantages[13]. - The company continues to operate primarily in the construction sector in Hong Kong, focusing on site preparation and renovation projects[70]. Shareholder and Corporate Governance - The board does not recommend the payment of an interim dividend for the six months ended October 31, 2020[9]. - The company did not recommend the payment of an interim dividend for the six months ended October 31, 2020, consistent with the previous year[44]. - The board believes that the dual role of the chairperson and CEO held by Ms. Xu Zihua provides strong and consistent leadership for the group[41]. - The company completed a share consolidation on July 15, 2020, merging every five shares into one[83]. - The issued share capital as of October 31, 2020, was HKD 9.6 million, with 192 million ordinary shares in issue[30]. Employee and Management - The company had 40 employees as of October 31, 2020, down from 42 employees as of April 30, 2020[31]. - The total remuneration for key management personnel was HKD 310,000 for the six months ended October 31, 2020, down from HKD 423,000 for the same period in 2019, reflecting a decrease of approximately 26.7%[102]. Assets and Liabilities - As of October 31, 2020, total assets amounted to HKD 151,088,000, a decrease from HKD 166,569,000 as of April 30, 2020[57]. - Trade receivables as of October 31, 2020, amounted to HKD 65,073,000, down from HKD 73,223,000 as of April 30, 2020[87]. - The company's guaranteed receivables increased significantly to HKD 22,500,000 as of October 31, 2020, from HKD 4,500,000 as of April 30, 2020[90]. - Contract assets related to construction contracts were HKD 16,387,000 as of October 31, 2020, down from HKD 23,942,000 as of April 30, 2020[93]. - Total liabilities, including trade and other payables, amounted to HKD 41,993,000 as of October 31, 2020, down from HKD 56,534,000 as of April 30, 2020[97]. - The company reported a decrease in total equity from HKD 20,000,000 as of April 30, 2020, to HKD 9,600,000 as of October 31, 2020, following a share consolidation[101]. Other Information - The company had no capital commitments as of October 31, 2020[28]. - There were no significant contingent liabilities as of October 31, 2020[29]. - There were no significant post-reporting date events disclosed as of the report date[45]. - The company has not reported any significant new product developments or market expansions during the reporting period[64]. - The company adopted a simplified approach for expected credit loss provisioning under HKFRS 9, with the board considering the provision as not significant as of October 31, 2020[94].
泰锦控股(08321) - 2021 - 中期财报