Financial Performance - The group's revenue increased from approximately HKD 230,283,000 for the six months ended June 30, 2023, to approximately HKD 492,499,000 for the six months ended June 30, 2024, representing an increase of approximately HKD 262,216,000 or 113.9%[4] - Gross profit for the six months ended June 30, 2024, was approximately HKD 98,076,000, with a gross margin of 19.9%, compared to a gross profit of approximately HKD 18,269,000 and a gross margin of 7.9% for the same period in 2023[4] - The net profit attributable to owners of the company for the six months ended June 30, 2024, was approximately HKD 55,789,000, a significant increase of approximately HKD 51,613,000 compared to HKD 4,176,000 for the same period in 2023[5] - The company reported a profit before tax of approximately HKD 67,318,000 for the six months ended June 30, 2024, compared to HKD 3,727,000 for the same period in 2023[5] - Basic and diluted earnings per share for the six months ended June 30, 2024, were 11.44 HK cents, compared to 0.86 HK cents for the same period in 2023[5] Revenue Drivers - The increase in revenue was primarily driven by the growth in public sector projects, particularly tunnel construction services[4] - Revenue from public sector projects in tunnel construction rose from approximately HKD 74,547,000 to approximately HKD 367,626,000, an increase of approximately HKD 293,079,000 or 393.1%[47] Expenses and Costs - Administrative expenses increased to approximately HKD 18,218,000 for the six months ended June 30, 2024, from HKD 12,993,000 in the same period in 2023[5] - The total cost of subcontracting and construction materials was 59,941 thousand HKD for the current period, compared to 132,464 thousand HKD in the previous year[18] - Service costs increased from approximately HKD 212,014,000 to approximately HKD 394,423,000, an increase of approximately HKD 182,409,000 or 86.0%[48] Cash Flow and Assets - The company's net cash from operating activities for the six months ended June 30, 2024, was HKD 74,300,000, a significant improvement compared to a cash outflow of HKD 22,446,000 in the same period of 2023[10] - As of June 30, 2024, total assets amounted to HKD 166,879,000, an increase from HKD 135,357,000 as of December 31, 2023, representing a growth of approximately 23.2%[7] - Cash and cash equivalents at the end of the period rose to HKD 14,437,000 from HKD 9,169,000 at the end of 2023, marking an increase of approximately 57.5%[11] Shareholder Information - The board has declared an interim dividend of HKD 0.04 per share for the year ending December 31, 2024, compared to no interim dividend for the year ending December 31, 2023[20] - The total number of shares held by the major shareholders and other individuals is disclosed in accordance with the Securities and Futures Ordinance[69] Corporate Governance - The audit committee, composed of three independent non-executive directors, reviewed the interim report for the six months ending June 30, 2024, confirming compliance with applicable accounting standards[76] - The company maintains high standards of corporate governance in accordance with the GEM Listing Rules, ensuring proper regulation of business activities and decision-making processes[75] Future Outlook - The outlook for the Hong Kong tunnel and underground construction services is positive due to ongoing infrastructure projects, including the Northern Metropolis development and several new MTR station projects[45] - The group is focusing on developing its tunnel construction services, which are expected to be a major growth driver and sustainable revenue source[46]
骏杰集团控股(08188) - 2024 - 中期财报