Financial Performance - For the six months ended September 30, 2021, the company's revenue was HKD 22,726,000, a decrease of 20.5% compared to HKD 28,497,000 for the same period in 2020[2] - Gross profit for the same period was HKD 7,777,000, down 37.5% from HKD 12,368,000 in 2020[2] - The net profit attributable to the owners of the company for the six months was HKD 2,150,000, a decline of 68.9% compared to HKD 6,917,000 in the previous year[2] - Total revenue for the six months ended September 30, 2021, was HKD 22,726,000, a decrease of 20.1% compared to HKD 28,497,000 for the same period in 2020[18] - Revenue from leasing and related services for the six months ended September 30, 2021, was HKD 21,357,000, down 8.0% from HKD 23,201,000 in 2020[18] - Revenue from equipment and parts trading for the six months ended September 30, 2021, was HKD 1,369,000, a decline of 74.0% compared to HKD 5,296,000 in 2020[18] - The group's revenue for the six months ended September 30, 2021, decreased by approximately 20.3% to about HKD 22.7 million, down from approximately HKD 28.5 million for the same period in 2020[38] - Gross profit decreased by approximately 37.1% to about HKD 7.8 million, with a gross margin of approximately 34.2%, compared to 43.4% in the same period last year[40] - The group's total profit and comprehensive income for the six months ended September 30, 2021, decreased by approximately 68.9% to about HKD 2.2 million, primarily due to increased material and subcontracting costs[45] Assets and Liabilities - The company's total assets as of September 30, 2021, were HKD 164,181,000, an increase from HKD 142,655,000 as of March 31, 2021[4] - Current liabilities increased to HKD 21,416,000 from HKD 4,899,000 as of March 31, 2021, indicating a significant rise in short-term obligations[4] - Trade receivables as of September 30, 2021, increased to HKD 19,352,000 from HKD 14,001,000 as of March 31, 2021[29] - Trade payables as of September 30, 2021, were HKD 65,000, a decrease from HKD 333,000 as of March 31, 2021[31] Cash Flow - Cash and cash equivalents decreased to HKD 10,915,000 from HKD 13,796,000 at the end of the previous reporting period[10] - The company reported a net cash outflow from operating activities of HKD 1,480,000 for the six months ended September 30, 2021, compared to a net inflow of HKD 11,629,000 in 2020[10] - The company’s financing activities generated a net cash inflow of HKD 14,323,000 for the six months ended September 30, 2021, compared to a net cash outflow of HKD 3,781,000 in the previous year[10] - The group had cash and cash equivalents of approximately HKD 10.9 million as of September 30, 2021, down from HKD 13.8 million as of March 31, 2021[46] Earnings and Dividends - The company’s basic and diluted earnings per share for the six months were HKD 0.54, down from HKD 1.73 in the same period of 2020[2] - Basic earnings per share for the six months ended September 30, 2021, was HKD 0.54 cents, down from HKD 1.73 cents in 2020[26] - The company did not declare any dividends for the six months ended September 30, 2021, consistent with 2020[25] Tax and Expenses - The company incurred a total tax expense of HKD 344,000 for the six months ended September 30, 2021, compared to HKD 1,126,000 in 2020[22] - The cost of sales and consumables for the six months ended September 30, 2021, was HKD 591,000, down from HKD 2,709,000 in 2020[21] - The company reported a net exchange gain of HKD (5,000) for the six months ended September 30, 2021, compared to a loss of HKD (41,000) in 2020[21] Employment and Shareholding - The group employed 37 full-time employees as of September 30, 2021, with employee costs amounting to approximately HKD 5.1 million, a decrease from HKD 7.0 million in the previous year[57] - The major shareholders include Mr. Tang Hing Keung and Ms. Au Fung Yi, each holding 30% of the company through their controlled entity, Hing Kit[59][64] - Ms. Hu Lan Ying holds a beneficial interest in 93,688,000 shares, representing approximately 23.42% of the total issued shares[62] Business Strategy and Operations - The group aims to enhance its core business revenue performance through flexible strategies in response to market challenges[36] - The group plans to continue adopting a proactive and prudent approach to its business strategy to improve profitability and enhance shareholder value[36] - The company has purchased new motors and other necessary components to replace old temporary cranes, reinforcing its market position in the crane industry[73] - The company has acquired additional tower cranes to capture market demand for tower crane rental services, retaining two general technicians and one sales manager to support operations[73] Compliance and Governance - The audit committee, consisting of four independent non-executive directors, has reviewed the interim financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[77] - The board is not aware of any significant events that require disclosure after September 30, 2021, up to the report date[75] Capital Commitments and Investments - The group has capital commitments of approximately HKD 19.9 million for the procurement of tower cranes and components as of September 30, 2021[50] - There were no significant acquisitions or disposals of subsidiaries or associated companies reported as of September 30, 2021[53] - The group held no significant investments as of September 30, 2021[54] - There were no significant investments or capital asset plans as of September 30, 2021, apart from those disclosed in the prospectus dated February 28, 2017, and the announcement dated August 28, 2020[53] - As of September 30, 2021, the group had no mortgaged assets[55] - The group’s operating income is primarily transacted in Hong Kong dollars, with foreign exchange risk deemed very low[52]
兴铭控股(08425) - 2022 - 中期财报