Financial Performance - The company reported revenue of HKD 199,374,000 for the six months ended September 30, 2019, representing a 40% increase compared to HKD 142,682,000 for the same period in 2018[6]. - Gross profit for the six months was HKD 21,353,000, up 36% from HKD 15,716,000 in the previous year[6]. - The net profit for the period was HKD 9,218,000, which is a 31% increase from HKD 7,028,000 in the same period last year[6]. - Basic earnings per share increased to HKD 1.15, compared to HKD 0.88 for the same period in 2018, reflecting a 30% growth[6]. - Revenue increased from approximately HKD 142.7 million for the six months ended September 30, 2018, to approximately HKD 199.4 million for the six months ended September 30, 2019, representing a growth of about 39.7%[55]. - Profit attributable to owners increased by approximately HKD 2.2 million or 31.4% to about HKD 9.2 million[64]. Assets and Liabilities - Total assets as of September 30, 2019, were HKD 286,864,000, up from HKD 191,515,000 as of March 31, 2019[8]. - Trade and other receivables rose significantly to HKD 102,563,000 from HKD 40,757,000, indicating improved collection efficiency[8]. - Trade receivables increased to HKD 64,204,000 as of September 30, 2019, from HKD 17,494,000 as of March 31, 2019, representing a growth of 267%[30]. - Total trade and other receivables reached HKD 102,563,000 as of September 30, 2019, compared to HKD 40,757,000 as of March 31, 2019, indicating a 152% increase[30]. - Contract assets amounted to HKD 132,751,000 as of September 30, 2019, up from HKD 107,416,000 as of March 31, 2019, reflecting a growth of 23%[34]. - Trade payables rose to HKD 38,050,000 as of September 30, 2019, from HKD 12,841,000 as of March 31, 2019, marking an increase of 196%[37]. - Total bank borrowings increased to HKD 66,638,000 as of September 30, 2019, compared to HKD 44,600,000 as of March 31, 2019, representing a growth of 49%[40]. Cash Flow and Financing - The company's cash and cash equivalents increased to HKD 41,550,000 from HKD 29,411,000 at the beginning of the period[12]. - The company reported a net cash inflow from financing activities of HKD 20,756,000, compared to an outflow of HKD 5,663,000 in the previous year[12]. - The company incurred a tax expense of HKD 1,889,000 for the six months ended September 30, 2019, compared to HKD 1,249,000 in the same period of 2018, indicating a significant increase of approximately 51.3%[25]. - The actual interest rate for bank borrowings ranged from 2.0% to 5.6% as of September 30, 2019[42]. Dividends and Share Capital - The company declared an interim dividend of HKD 0.005 per share, totaling HKD 4,000,000, compared to no dividend in the same period last year[27]. - The company’s issued share capital was HKD 8,000,000 with 800,000,000 shares outstanding as of September 30, 2019[69]. - The average number of ordinary shares for calculating basic earnings per share remained constant at 800,000 for both periods under review[28]. Employee and Operational Costs - The total employee costs for the six months ended September 30, 2019, amounted to HKD 10,923,000, an increase from HKD 10,468,000 in the previous year, reflecting a rise of about 4.3%[24]. - Administrative expenses increased by approximately HKD 1.1 million or 16.7% to about HKD 7.7 million due to business expansion and increased employee costs[60]. - The employee cost for the six months ended September 30, 2019, was approximately HKD 10.9 million, compared to HKD 10.5 million for the same period in 2018, reflecting a year-on-year increase of about 3.8%[79]. Corporate Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2019[104]. - The company has complied with the corporate governance code as of September 30, 2019, with no known conflicts of interest among directors[97]. - There were no known interests or short positions in the company's shares or related securities, aside from those disclosed[93]. Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[6]. - The group has not made any significant acquisitions or disposals of subsidiaries or associates during the six months ended September 30, 2019[74]. - The group believes that foreign exchange risk is very low as its revenue-generating operations are primarily conducted in Hong Kong dollars[77].
CHI HO DEV(08423) - 2020 - 中期财报