Project Awards and Ongoing Projects - For the six months ended September 30, 2021, the Group was awarded 4 new projects with a total contract value of approximately HK$327.4 million[20] - As of September 30, 2021, there were 28 ongoing projects with an outstanding contract sum of approximately HK$1,176.9 million[20] - Four projects were completed during the reporting period[20] E-Commerce Business - The Group has engaged in E-Commerce business since March 2021 through CK Baiyin, in which it holds a 51% equity interest[21] - The E-Commerce business offers over 500 types of products, including selenium-rich agricultural products, nutritional supplements, daily necessities, and cosmetic products[22] - The Group has cooperated with over 40 suppliers and brand merchants to provide high-quality and diversified products[22] - The Group is strategically positioned as a brand retailer in private E-Commerce platforms, cooperating with three such platforms[21] - The Group's E-Commerce income is generated from retailing on private platforms[21] - The Group's E-Commerce business generated approximately HK$223.3 million in revenue during the Period[24] - The Group plans to further expand technical platforms and increase product types in the E-Commerce sector to enhance market share in the PRC[26] Financial Performance - The Group's unaudited consolidated revenue for the Period was approximately HK$755.4 million, a 82.2% increase from approximately HK$414.5 million in the corresponding period of 2020[24] - Gross profit for the Period amounted to approximately HK$73.2 million, with a gross profit margin of approximately 9.7%, compared to 8.4% in 2020[24] - Profit attributable to the owners of the Company increased to approximately HK$31.4 million, representing a 48.8% increase from approximately HK$21.1 million in the corresponding period of last year[24] - The Group's adjusted profit for the six months ended 30 September 2021 was approximately HK$31.4 million, compared to approximately HK$24.2 million in the corresponding period of 2020[24] - Revenue for the six months ended 30 September 2021 was HK$755,449,000, an increase of 82.2% compared to HK$414,549,000 for the same period in 2020[71] - Gross profit for the same period was HK$73,214,000, representing a gross margin of 9.7%[72] - Operating profit increased to HK$59,117,000, up 128.5% from HK$25,839,000 in the previous year[72] - Profit for the period was HK$45,356,000, compared to HK$21,069,000 for the same period in 2020, marking a 115.5% increase[72] - Basic and diluted earnings per share attributable to owners of the Company for the period was HK$3.14, up from HK$2.58[72] - Total comprehensive income for the period was HK$46,177,000, significantly higher than HK$21,069,000 in the prior year[74] Financial Position and Ratios - As of 30 September 2021, the Group had 1,197 employees, offering competitive remuneration packages based on market rates and employee performance[31] - The Group's current ratio decreased to 4.0 times from 4.2 times as of 31 March 2021 due to an increase in trade payables[34] - The gearing ratio slightly decreased from 3.0% as of 31 March 2021 to 2.9% as of 30 September 2021, indicating stable financial leverage during the period[34] - The Group had cash and cash equivalents of approximately HK$181.2 million as of 30 September 2021, down from approximately HK$196.8 million as of 31 March 2021[35] - The capital structure consisted of equity of approximately HK$405.2 million and debts of approximately HK$11.9 million as of 30 September 2021[36] - Total assets increased to HK$539,658,000 as of September 30, 2021, compared to HK$471,239,000 as of March 31, 2021, representing a growth of 14.5%[76] - Total liabilities amounted to HK$134,471,000, an increase of 19.8% from HK$112,229,000 as of March 31, 2021[78] Cash Flow and Investments - For the six months ended September 30, 2021, the net cash used in operating activities was HK$13,594,000, compared to a net cash generated of HK$30,723,000 in the same period of 2020[83] - The net cash used in investing activities was HK$2,078,000, while in the previous year, it generated HK$2,000[83] - The net cash used in financing activities amounted to HK$822,000, a significant decrease from HK$120,603,000 generated in the same period last year[83] - Cash and cash equivalents at the end of the period were HK$181,196,000, a decrease from HK$184,638,000 at the end of the previous period[83] Corporate Governance and Compliance - The company complied with all applicable provisions of the Corporate Governance Code up to September 30, 2021, except for one stated deviation[58] - The Company has adopted the Model Code for Securities Transactions by Directors and confirmed compliance by all Directors during the reporting period[62] - The company’s financial report for the six months ended September 30, 2021, was reviewed by the Audit Committee with no disagreements noted[178] Share Capital and Management - Mr. Lo holds 558,750,000 shares, representing 55.9% of the total issued share capital of Magnificent Faith[50] - Mrs. Lo is deemed to be interested in all shares held by Mr. Lo, also amounting to 558,750,000 shares or 55.9%[54] - CT Vision Strategic Company Limited holds 158,310,000 shares, accounting for 15.8% of the company's total shares[54] - The total number of issued shares increased to 1,000,000,000 upon completion of a share offer on August 14, 2020, raising gross proceeds of HK$130,000,000[171] - Key management compensation for the six months ended September 30, 2021, amounted to HK$1,967,000, an increase from HK$1,344,000 in the same period of 2020[177] Taxation and Liabilities - Current income tax expense for the six months ended September 30, 2021, was HK$14,373,000, significantly higher than HK$4,765,000 in the same period of 2020[132] - The provision for Corporate Income Tax in the PRC is calculated at 25%, with no overseas profits tax calculated for entities incorporated in the British Virgin Islands or the Cayman Islands due to tax exemptions[133] - The company reported no significant contingent liabilities as of September 30, 2021, and believes ongoing litigations will not materially affect the consolidated financial statements[173]
智勤控股(09913) - 2022 - 中期财报