Financial Performance - For the six months ended September 30, 2021, the group's revenue was approximately HKD 90.2 million, an increase of about 32.6% compared to HKD 68.0 million for the same period in 2020[9]. - Gross profit for the same period was approximately HKD 30.0 million, up about 11.9% from HKD 26.8 million in the previous year[9]. - Net profit increased from approximately HKD 3.8 million for the six months ended September 30, 2020, to approximately HKD 7.6 million for the same period in 2021[9]. - Basic and diluted earnings per share for the six months ended September 30, 2021, were HKD 0.76, compared to HKD 0.39 for the same period in 2020[9]. - The group reported a pre-tax profit of approximately HKD 9.4 million for the six months ended September 30, 2021, compared to HKD 5.8 million for the same period in 2020[10]. - Total comprehensive income for the period was approximately HKD 7.6 million, compared to HKD 3.8 million in the previous year[10]. - The company recorded a total comprehensive income of HKD 7,604,000 for the six months ended September 30, 2021, compared to HKD 3,758,000 for the same period in 2020, marking an increase of 102.3%[14]. - For the six months ended September 30, 2021, the company reported a profit attributable to owners of HKD 7,604,000, compared to HKD 3,758,000 for the same period in 2020, representing a 102.4% increase[41]. Revenue Breakdown - Total revenue for the six months ended September 30, 2021, was HKD 90,168,000, representing a 32.5% increase from HKD 67,962,000 in the same period of 2020[27]. - Revenue from construction protection engineering for the six months ended September 30, 2021, was HKD 54,330,000, up 30.7% from HKD 41,545,000 in the prior year[27]. - Revenue from the supply of construction protection products for the six months ended September 30, 2021, was HKD 35,838,000, an increase of 35.8% compared to HKD 26,417,000 in the same period of 2020[27]. - Revenue from Hong Kong for the six months ended September 30, 2021, was HKD 80,853,000, a 30.4% increase from HKD 61,994,000 in the same period of 2020[34]. - Revenue from Macau for the six months ended September 30, 2021, was HKD 9,315,000, up 55.5% from HKD 5,968,000 in the same period of 2020[34]. Expenses and Costs - The group’s administrative expenses decreased from HKD 18.3 million in the previous year to HKD 16.1 million for the current period[10]. - The total employee costs for the six months ended September 30, 2021, were HKD 18,498,000, up from HKD 16,079,000 in 2020, reflecting a 15.0% increase[38]. - The depreciation of property and equipment for the six months ended September 30, 2021, was HKD 1,106,000, compared to HKD 738,000 in 2020, marking a 49.9% increase[38]. - The income tax expense for the six months ended September 30, 2021, was HKD 1,802,000, down from HKD 2,026,000 in 2020, reflecting an 11.1% decrease[39]. Assets and Liabilities - As of September 30, 2021, the total assets amounted to HKD 193,040,000, a decrease from HKD 212,362,000 as of March 31, 2021, representing a decline of approximately 9.1%[12]. - The net current assets were reported at HKD 128,811,000, down from HKD 165,237,000, indicating a decrease of about 22.0%[12]. - The company reported a total equity of HKD 178,802,000 as of September 30, 2021, up from HKD 171,198,000, reflecting an increase of approximately 4.4%[12]. - The company’s bank borrowings increased to HKD 21,269,000 as of September 30, 2021, compared to zero as of March 31, 2021[12]. - Trade receivables decreased to HKD 15,461,000 as of September 30, 2021, from HKD 25,466,000 as of March 31, 2021, indicating a 39.3% decline[46]. - Trade payables decreased to HKD 11,007,000 as of September 30, 2021, from HKD 19,479,000 as of March 31, 2021, representing a 43% decline[53]. Dividends and Share Capital - The board of directors did not recommend any dividend payment for the six months ended September 30, 2021, consistent with the previous year[9]. - The company did not declare any dividends for the six months ended September 30, 2021, consistent with the previous year[43]. - The company’s issued share capital remained at 1,560,000,000 shares as of September 30, 2021, unchanged from March 31, 2021[57]. Operational Insights - The company plans to continue expanding its market presence and investing in new technologies to enhance its service offerings[20]. - The company recognized rental income of HKD 300,000 for the six months ended September 30, 2021, compared to no rental income in the same period of 2020[35]. - The company’s construction protection projects typically take between one to four years to complete, indicating a long-term revenue generation model[28]. - The impact of the COVID-19 pandemic has caused delays in construction projects, which may continue until the situation is controlled, affecting the group's operational and financial performance[100]. - The group is closely monitoring the financial impact of the COVID-19 pandemic, with ongoing construction protection projects progressing steadily[101]. Risk Management and Compliance - The group faces risks including reliance on non-recurring revenue sources and potential underestimation of project costs, which could adversely affect financial performance[104]. - The group has not faced any prosecutions, fines, or penalties for environmental law violations as of the report date[103]. - The group relies on subcontractors and independent third-party suppliers for its construction protection projects, which poses risks if costs increase or quality standards are not met[108]. - The group is committed to enhancing environmental protection and minimizing waste and emissions in its operations[102]. - The group has sufficient environmental protection measures in place to comply with all applicable laws and regulations in Hong Kong[102]. Corporate Governance - The company has complied with the corporate governance code, except for the deviation from rule A.2.1 regarding the roles of the chairman and CEO[120]. - The audit committee was established on March 18, 2020, and has reviewed the financial reporting process and internal controls for the six months ending September 30, 2021[124].
新威工程集团(08616) - 2022 - 中期财报