Revenue and Profitability - Revenue for the six months ended June 30, 2024, was HKD 195,984, a decrease of 20% compared to HKD 244,882 for the same period in 2023[1] - Gross profit increased to HKD 50,377, up 7% from HKD 46,842 year-on-year[1] - Profit before tax rose to HKD 36,652, representing a 29% increase from HKD 28,341 in the previous year[2] - Net profit for the period was HKD 30,593, an increase of 30% compared to HKD 23,587 in the same period last year[2] - Basic and diluted earnings per share were both HKD 3.1, up from HKD 2.4 in the prior year[2] - The company reported a profit attributable to owners of HKD 30,593,000 for the six months ended June 30, 2024, compared to HKD 23,587,000 in 2023, reflecting a 30% increase[20] - Basic earnings per share increased to HKD 30.59 from HKD 23.59, a growth of 30%[20] Dividends - The board recommended an interim dividend of HKD 2.0 and a special dividend of HKD 4.0 per share[1] - The interim dividend proposed is HKD 2.0 per share, totaling HKD 20,020,000, and a special dividend of HKD 4.0 per share, totaling HKD 40,040,000[19] - The board proposed an interim dividend of HKD 0.02 per share and a special dividend of HKD 0.04 per share, totaling HKD 20.02 million and HKD 40.04 million respectively, with a dividend payout ratio of approximately 196%[42] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 449,948, slightly up from HKD 446,003 as of December 31, 2023[3] - Current liabilities decreased to HKD 161,750 from HKD 168,598 at the end of the previous year[3] - The company's net asset value increased to HKD 324,291 from HKD 313,567 year-on-year[4] - Trade receivables decreased to HKD 51.986 million from HKD 99.508 million, reflecting a significant reduction in outstanding amounts[23] - The aging analysis of trade receivables shows that amounts overdue by more than one year decreased to HKD 2.726 million from HKD 5.298 million[23] - As of June 30, 2024, the group had no bank borrowings, resulting in a debt-to-equity ratio of zero[35] Cash and Investments - Cash and cash equivalents amounted to approximately HKD 66.9 million, an increase of about HKD 11.0 million from approximately HKD 55.9 million as of December 31, 2023[35] - The group has fixed deposits exceeding three months totaling HKD 241.1 million, up from HKD 193.0 million as of December 31, 2023, with interest rates ranging from 3.5% to 4.59%[35] Operational Performance - Major customer I contributed HKD 127,433,000 to revenue, up from HKD 72,141,000 in the previous year, representing a 77% increase[11] - Major customer II's revenue decreased significantly to HKD 32,438,000 from HKD 165,383,000, a decline of 80%[11] - Bank interest income increased to HKD 5,425,000 from HKD 2,010,000, marking a 170% rise[13] - The company incurred a depreciation expense of HKD 722,000 for property, plant, and equipment, slightly down from HKD 727,000 in the previous year[14] - Total employee benefits expenses, including directors' remuneration, amounted to HKD 36,102,000, an increase from HKD 34,887,000[15] - The company recognized share-based payment expenses of HKD 104,000 for the six months ended June 30, 2024, compared to zero in the same period last year[18] - Employee benefits expenses totaled approximately HKD 36.1 million, compared to HKD 34.9 million in the previous period, indicating relative stability[36] Future Outlook - The company continues to focus on providing comprehensive design and construction solutions for facade and curtain wall engineering in Hong Kong[5] - The company is currently bidding for two large-scale facade projects with an estimated total contract value of HKD 65.7 million[31] - The company holds key projects with an estimated contract balance of HKD 369.3 million as of June 30, 2024[30] - The accounts receivable turnover days increased to approximately 70.3 days from about 52.8 days at the end of 2023[34] - The company plans to enhance project quality, safety, and cost control while maintaining operational efficiency in a challenging market environment[29]
信越控股(06038) - 2024 - 中期业绩