Financial Performance - For the six months ended September 30, 2020, the Group's unaudited consolidated revenue was approximately HK$414.5 million, an increase of 35.6% from HK$305.7 million in the corresponding period of 2019[12] - The Group's gross profit for the same period was approximately HK$35.0 million, with a gross profit margin of approximately 8.4%, down from 10.5% in 2019[12] - Profit for the period increased to approximately HK$21.1 million, representing a 61.1% increase compared to approximately HK$13.1 million in the corresponding period of 2019[13] - Adjusted profit for the six months ended September 30, 2020, was approximately HK$24.2 million, compared to HK$23.1 million in the same period of 2019[15] - Revenue for the six months ended September 30, 2020, was HK$414,549,000, an increase of 35.6% compared to HK$305,698,000 for the same period in 2019[64] - Gross profit for the same period was HK$34,969,000, up 8.7% from HK$32,129,000 in 2019[64] - Operating profit increased to HK$25,839,000, representing a 47.0% rise from HK$17,597,000 in the previous year[64] - Profit for the period was HK$21,069,000, a significant increase of 61.5% compared to HK$13,070,000 in 2019[64] - Basic and diluted earnings per share rose to 2.58 HK cents, up from 1.84 HK cents in the prior year[64] Contracts and Revenue Recognition - As of September 30, 2020, the Group had 33 contracts on hand, up from 26 contracts as of March 31, 2020[9] - The outstanding revenue to be recognized as of September 30, 2020, amounted to approximately HK$1,323.0 million, compared to HK$1,064.9 million as of March 31, 2020[9] - Contract revenue for the six months ended September 30, 2020, was HK$414,549,000, a significant increase of 35.6% compared to HK$305,698,000 in the same period of 2019[94] - Formwork services contributed HK$384,957,000 to contract revenue, up from HK$303,065,000, reflecting a growth of 27.0% year-over-year[94] - Other construction services revenue surged to HK$29,592,000 from HK$2,633,000, marking an increase of 1,025.5%[94] Expenses and Liabilities - General and administrative expenses for the period increased to approximately HK$15.1 million, compared to approximately HK$14.5 million in the corresponding period of the previous year[13] - Current liabilities rose to HK$73,186,000 as of September 30, 2020, compared to HK$58,778,000 as of March 31, 2020, indicating an increase of about 24.5%[68] - Total liabilities as of September 30, 2020, amounted to HK$73,669,000, an increase from HK$59,670,000 as of March 31, 2020, marking a rise of about 23.5%[68] - Lease liabilities decreased from HK$675,000 as of March 31, 2020, to HK$483,000 as of September 30, 2020, showing a reduction of approximately 28.4%[68] Cash and Financial Position - Cash and bank balances as of September 30, 2020, were approximately HK$184.6 million, significantly up from HK$33.3 million as of March 31, 2020[24] - The current ratio improved to 5.5 times as of September 30, 2020, compared to 4.3 times as of March 31, 2020[27] - Cash and cash equivalents increased significantly to HK$184,638,000 from HK$33,310,000, reflecting a growth of 453.0%[66] - Total assets as of September 30, 2020, amounted to HK$406,827,000, compared to HK$252,338,000 as of March 31, 2020, indicating a growth of 60.9%[66] - The Group's equity was approximately HK$333.2 million, with debts (lease liabilities) of approximately HK$1.0 million as of September 30, 2020[29] Corporate Governance and Management - The company has complied with all applicable provisions of the Corporate Governance Code except for the separation of roles between chairman and chief executive[49] - The company recognizes the importance of maintaining high standards of corporate governance to protect shareholder interests[49] - The company will continue to review its management structure as business grows to assess the need for a chief executive officer[49] - The Group's chief operating decision-maker assesses performance based on profit after income tax, integrating all businesses into a single operating segment[91] Share Capital and Ownership - Mr. Lo holds a total interest of 558,750,000 shares, representing approximately 55.9% of the issued share capital of Magnificent Faith Limited[39] - Mrs. Lo, as the spouse of Mr. Lo, is deemed to be interested in all shares held by Mr. Lo, totaling 558,750,000 shares, which is about 55.9%[39] - CT Vision Investment Limited holds 191,250,000 shares, accounting for approximately 19.1% of the company's ordinary shares[43] - The company issued 250,000,000 ordinary shares at HK$0.52 per share, raising total gross proceeds of HK$130,000,000, which increased the total number of issued shares to 1,000,000,000[136] Impact of COVID-19 - The COVID-19 outbreak has not significantly impacted the Group's financial performance for the six months ended September 30, 2020, but potential long-term effects remain uncertain[14] Other Information - The Group had no significant investments, material acquisitions, or disposals of subsidiaries during the six months ended September 30, 2020[32] - The Group had no capital commitments as of September 30, 2020[32] - The Group had no significant exposure to foreign currency risk, as most transactions were denominated in Hong Kong dollars and Renminbi[30] - The Group's banking facilities amounted to HK$60.0 million, with HK$60 million remaining unused as of September 30, 2020[29]
智勤控股(09913) - 2021 - 中期财报