Financial Performance - For the six months ended September 30, 2021, the company reported total revenue of HKD 36,502 thousand, a slight decrease of 0.4% compared to HKD 36,652 thousand for the same period in 2020[8]. - The gross profit for the same period was HKD 11,043 thousand, down 23.1% from HKD 14,396 thousand in the previous year[8]. - The company incurred a loss before tax of HKD 597 thousand, compared to a profit before tax of HKD 6,102 thousand for the same period in 2020[8]. - The net loss attributable to the company for the period was HKD 953 thousand, compared to a profit of HKD 4,994 thousand in the previous year[8]. - Basic and diluted loss per share for the period was HKD (0.09), compared to earnings per share of HKD 0.52 for the same period in 2020[8]. - The company experienced a significant increase in service costs, which rose to HKD 25,459 thousand, up 14.9% from HKD 22,256 thousand in the previous year[8]. - Other income decreased to HKD 698 thousand from HKD 3,162 thousand in the previous year, reflecting a decline of 78.0%[8]. - The company reported a net other losses of HKD 3,112 thousand, compared to HKD 1,416 thousand in the previous year, indicating a worsening of 120.0%[8]. - Administrative expenses were HKD 9,021 thousand, down 9.8% from HKD 9,995 thousand in the previous year[8]. - The company reported a total comprehensive income of HKD 4,900,000 for the period, compared to HKD 4,994,000 in the previous year, showing a slight decline of about 1.9%[12]. Revenue Breakdown - Revenue from new property construction was HKD 22,911,000 for the six months ended September 30, 2021, compared to HKD 22,748,000 in the same period of 2020, showing an increase of 0.7%[21]. - Revenue from renovation and maintenance of existing properties increased to HKD 6,680,000 for the six months ended September 30, 2021, from HKD 6,412,000 in the same period of 2020, reflecting a growth of 4.2%[21]. - For the six months ended September 30, 2021, the group's revenue slightly decreased by approximately 0.4% to about HKD 36.5 million from approximately HKD 36.7 million in the previous period[57]. Assets and Liabilities - As of September 30, 2021, total assets amounted to HKD 90,870,000, an increase from HKD 81,327,000 as of March 31, 2021, representing a growth of approximately 11.4%[10]. - The company's cash and cash equivalents increased to HKD 43,694,000 from HKD 39,784,000, reflecting a rise of about 12.5%[14]. - Current liabilities increased to HKD 25,168,000 from HKD 15,636,000, reflecting a rise of approximately 61.0%[10]. - The company's equity attributable to owners increased to HKD 93,692,000 from HKD 70,096,000, marking a significant increase of about 33.7%[12]. Employee and Operational Costs - The total employee costs for the six months ended September 30, 2021, amounted to HKD 26,063,000, up from HKD 24,750,000 in the same period of 2020, indicating an increase of 5.3%[27]. - The company employed a total of 135 employees as of September 30, 2021, down from 144 employees a year earlier, with total employee costs amounting to approximately HKD 26.1 million[83]. - The company hired 15 new engineering personnel and incurred employee costs of approximately HKD 7.2 million as of September 30, 2021[85]. - The company also hired 13 new engineering personnel for civil engineering projects, resulting in employee costs of approximately HKD 3.7 million as of September 30, 2021[87]. Share Capital and Dividends - The group issued 192,000,000 new ordinary shares on July 22, 2021, to acquire a 23.4% equity interest in an associate company[51]. - The group’s share capital as of September 30, 2021, was HKD 11,520 thousand, reflecting the issuance of new shares[51]. - The company did not recommend any interim dividend for the six months ended September 30, 2021, consistent with the previous year[40]. - No dividends were recommended by the board for the six months ended September 30, 2021[122]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[119]. - The Audit Committee was established on August 27, 2018, and consists of three independent non-executive directors[125]. - The Audit Committee is responsible for recommending the appointment, reappointment, and removal of external auditors to the Board[125]. - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021[125]. Strategic Focus and Future Plans - The company is committed to improving its financial performance and exploring new strategies for market expansion and product development[8]. - The group aims to expand its market share by seeking more engineering consultancy service contracts despite a challenging business environment[58]. - The company has not invested in any construction and property development companies as of September 30, 2021, but is actively seeking suitable investment opportunities[87]. - The company plans to fully utilize the remaining unutilized proceeds of HKD 13.3 million by March 31, 2022[95].
WAC HOLDINGS(08619) - 2022 - 中期财报