Financial Performance - For the six months ended September 30, 2024, the group's revenue was approximately HKD 5,995,000, a decrease of about 7% compared to HKD 6,448,000 for the same period in 2023[3] - The profit attributable to the owners of the company for the same period was approximately HKD 631,000, down from HKD 660,000 in 2023[3] - Total revenue for the six months ended September 30, 2024, was HKD 5,995,000, a decrease of 7% compared to HKD 6,448,000 for the same period in 2023[23] - Gross profit for the period was HKD 3,897,000, down from HKD 4,063,000, reflecting a gross margin of approximately 65%[23] - The company reported a profit attributable to owners of the company of HKD 631,000, compared to HKD 660,000 in the previous year, indicating a decrease of about 4%[23] - For the six months ended September 30, 2024, the group reported a pre-tax profit of approximately HKD 631,000, down from HKD 660,000 for the same period in 2023, reflecting a decrease of about 4.4%[36] Revenue Breakdown - Revenue from the sale of smart card systems and RFID systems decreased by 14% to approximately HKD 1,553,000, compared to HKD 1,802,000 in the same period last year[10] - Maintenance revenue also decreased by 4% to approximately HKD 4,442,000, down from HKD 4,646,000 in the previous year[10] Expenses and Costs - Administrative expenses slightly increased by 1% to approximately HKD 3,937,000, primarily due to rising employee costs[10] - Employee costs, including directors' remuneration, amounted to approximately HKD 4,300,000, an increase of 16.2% from HKD 3,700,000 for the same period in 2023[17] - Employee costs increased to HKD 4,311,000 in 2024 from HKD 3,722,000 in 2023, representing a rise of approximately 15.8%[33] Cash Flow and Financial Ratios - Operating cash flow for the six months was HKD 922,000, a significant improvement from a cash outflow of HKD 479,000 in the same period last year[27] - The group maintained a current ratio and current cash ratio of 5.23 as of September 30, 2024, compared to 5.83 on March 31, 2024[11] - The debt-to-equity ratio of the group was zero as of September 30, 2024, indicating no outstanding loans[13] Assets and Liabilities - The total assets as of September 30, 2024, were HKD 21,757,000, a slight decrease from HKD 22,258,000 as of March 31, 2024[24] - Current liabilities increased to HKD 3,286,000 from HKD 2,563,000, indicating a rise of approximately 28%[24] - Trade receivables rose to HKD 1,087,000 as of September 30, 2024, compared to HKD 640,000 as of March 31, 2024, marking an increase of about 69.8%[37] - Trade payables decreased to HKD 33,000 as of September 30, 2024, from HKD 96,000 as of March 31, 2024, indicating a decline of approximately 65.6%[40] - Contract liabilities increased significantly to HKD 1,544,000 as of September 30, 2024, from HKD 858,000 as of March 31, 2024, representing an increase of about 80.0%[40] Corporate Governance and Compliance - The audit committee reviewed the interim results for the six months ending September 30, 2024, and confirmed compliance with applicable accounting standards and GEM listing rules[50] - The company has maintained compliance with all provisions of the GEM Corporate Governance Code during the period ending September 30, 2024[51] Shareholder Actions - The group did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[35] - The company did not repurchase any shares during the period ending September 30, 2024, with zero shares bought back as authorized by shareholders[48] Management and Structure - The group operates a single business segment focused on smart card systems, RFID, and IT services, indicating a streamlined operational structure[32] - There were changes in the board of directors, with Ms. Wu Wan Ying appointed as an executive director effective October 1, 2024, and Mr. Cheng Guo Xiong ceasing to be an authorized representative on the same date[54] - The company maintained a stable exchange rate environment with no hedging measures in place due to perceived costs outweighing benefits[20] - The number of full-time employees decreased to 21 as of September 30, 2024, down from 24 a year earlier[17] Investments - The group did not engage in any significant investments during the period[15] - The company had no significant investment or acquisition plans as of September 30, 2024[19] - There were no acquisitions or disposals of subsidiaries or associated companies during the period[16]
ITE HOLDINGS(08092) - 2025 - 中期业绩