Revenue Performance - Revenue for the six months ended 31 October 2021 amounted to approximately HK$46.3 million, representing an increase of approximately 30.8% compared to HK$35.4 million for the same period in 2020[11]. - The Group's total revenue increased by approximately HK$10.9 million or approximately 30.8% from approximately HK$35.4 million for the six months ended 31 October 2020 to approximately HK$46.3 million for the six months ended 31 October 2021[23]. - Revenue from slope works increased from approximately HK$35.1 million for the six months ended 31 October 2020 to approximately HK$46.1 million for the six months ended 31 October 2021, representing an increase of approximately 31.3%[19]. - For the three months ended 31 October 2021, the revenue was HK$21,182,000, representing an increase from HK$14,792,000 in the same period of 2020, which is a growth of approximately 43.5%[96]. - For the six months ended 31 October 2021, the revenue was HK$46,258,000, up from HK$35,439,000 in the same period of 2020, indicating a growth of about 30.5%[96]. Loss and Profitability - Loss attributable to owners of the Company for the six months ended 31 October 2021 was approximately HK$4.2 million, a significant reduction from a loss of approximately HK$71.9 million in 2020[11]. - Basic loss per share for the six months ended 31 October 2021 was approximately HK0.27 cents, compared to approximately HK4.56 cents for the same period in 2020[11]. - The loss for the period attributable to owners of the Company for the three months ended 31 October 2021 was HK$1,638,000, an improvement from a loss of HK$2,785,000 in the same period of 2020[98]. - The loss for the six months ended 31 October 2021 was HK$4,206,000, significantly reduced from HK$71,888,000 in the same period of 2020, reflecting a decrease of approximately 94.2%[98]. - The total comprehensive expenses for the six months ended 31 October 2021 were HK$4,206,000, down from HK$67,715,000 in the same period of 2020, indicating a reduction of about 93.8%[98]. Costs and Expenses - The Group's gross profit decreased by approximately HK$0.9 million from approximately HK$1.4 million to approximately HK$0.5 million, with the gross profit margin declining from approximately 4.0% to approximately 1.2%[24]. - Direct costs increased by approximately HK$11.7 million or approximately 34.4% from approximately HK$34.0 million to approximately HK$45.7 million, primarily due to the increase in slope works projects[26]. - Administrative expenses decreased by approximately HK$1.2 million or approximately 18.5% from approximately HK$6.5 million to approximately HK$5.3 million, mainly due to reduced staff costs and rental expenses[28]. - Total staff costs for the six months ended 31 October 2021 amounted to HK$3,027,000, a decrease from HK$3,425,000 in the same period of 2020, representing a reduction of approximately 11.6%[156]. Market Outlook - The Group anticipates that the Hong Kong construction market will remain challenging due to rising subcontracting costs and intense competition, which may pressure profit margins[17]. - The Hong Kong Government's ongoing major construction and infrastructure projects are expected to increase demand for slope works related to public safety[14]. - The Directors remain cautiously optimistic about the slope works industry in Hong Kong despite the challenging operating environment[16]. Financial Position - As of 31 October 2021, the Group's cash at banks and in hand amounted to approximately HK$31.1 million, an increase of approximately HK$5.9 million compared to HK$25.2 million as of 30 April 2021[39]. - The Group's gearing ratio was negative approximately 302.4% as of 31 October 2021, compared to negative approximately 286.5% as of 30 April 2021, indicating a deficit in equity[41]. - The Group had net current liabilities of approximately HK$16,550,000 and net liabilities of approximately HK$16,060,000 as of 31 October 2021[118]. - The company's current liabilities increased to HK$73,597,000 from HK$62,026,000, resulting in net current liabilities of HK$16,550,000, compared to HK$12,610,000 previously[101]. - The cash and bank balances increased to HK$31,104,000 from HK$25,183,000, reflecting improved liquidity[101]. Shareholder Information - As of October 31, 2021, United Financial Holdings Group Limited held 792,000,000 shares, representing approximately 50.21% of the company's shareholding[71]. - Mr. Zhang Yan was a beneficial owner of 158,000,000 shares, accounting for approximately 10.02% of the company's shareholding[71]. - The number of ordinary shares issued and fully paid remained at 1,577,200, with a carrying amount of HK$15,772,000 as of both 31 October 2021 and 30 April 2021[187]. Governance and Compliance - The Company complied with the applicable code provisions of the Corporate Governance Code, with a noted deviation regarding the separation of the roles of chairman and CEO[76]. - The Audit Committee reviewed the unaudited condensed consolidated results and confirmed compliance with applicable accounting standards and GEM Listing Rules[92]. - There were no significant contracts involving directors with material interests during the reporting period[64]. Other Information - The Group did not incur any cash outflow from investing activities during the reporting period[18]. - The company and its subsidiaries did not purchase, sell, or redeem any of the company's securities during the reporting period[74]. - There were no significant events that occurred after the reporting period[192].
浙江联合投资(08366) - 2022 - 中期财报