Financial Performance - For the six months ended September 30, 2024, Hanison Construction Holdings Limited reported unaudited consolidated revenue of HKD 984,300,000, an increase of 49.2% compared to HKD 659,800,000 in the same period last year, primarily driven by the construction segment[1] - The group recorded an unaudited consolidated loss of HKD 193,100,000 for the six months ended September 30, 2024, compared to a net loss of HKD 108,100,000 in the same period last year, mainly due to high interest rates and a downturn in the property market[2] - The operating performance (excluding revaluation losses and interest expenses) for the six months ended September 30, 2024, was a profit of HKD 23,000,000, compared to HKD 12,300,000 in the previous year[2] - Basic and diluted loss per share for the six months ended September 30, 2024, was HKD 0.18, compared to HKD 0.099 in the same period last year[3] - The company reported a total loss of HKD 193,082,000 for the six months ended September 30, 2024, compared to a loss of HKD 108,083,000 in the same period of 2023[13] Revenue Breakdown - Revenue for the six months ended September 30, 2024, reached HKD 984,330,000, a 49% increase from HKD 659,779,000 in the same period of 2023[10] - Construction contract revenue amounted to HKD 735,651,000, up 65% from HKD 445,397,000 year-on-year[12] - The revenue from decoration and maintenance contracts increased to HKD 125,971,000, representing an 8% rise from HKD 116,065,000[12] - Health product sales grew to HKD 6,109,000, a 18% increase compared to HKD 5,169,000 in the previous year[12] - The decoration and maintenance department recorded revenue of HKD 129.4 million, a decrease of 8.5% from HKD 141.4 million for the same period in 2023[35] - The building materials department achieved revenue of HKD 80.3 million, an increase of 39% from HKD 57.8 million in the previous year[36] - The property investment department recorded revenue of HKD 35,600,000 for the six months ending September 30, 2024, a decrease of 4.3% from HKD 37,200,000 for the same period in 2023[39] - The property agency and management department's revenue increased significantly to HKD 7,400,000, up 138.7% from HKD 3,100,000 in the previous year[40] - The health products department reported revenue of HKD 6,100,000, down 19.7% from HKD 7,600,000 for the same period in 2023[41] Assets and Liabilities - As of September 30, 2024, the group's non-current assets totaled HKD 3,589,603,000, down from HKD 4,178,381,000 as of March 31, 2024[5] - Current assets as of September 30, 2024, amounted to HKD 2,485,455,000, compared to HKD 2,047,739,000 as of March 31, 2024[5] - The group's net current asset value improved to HKD 839,499,000 as of September 30, 2024, from a net current liability of HKD 365,632,000 as of March 31, 2024[5] - Total assets less current liabilities as of September 30, 2024, were HKD 4,429,102,000, compared to HKD 3,812,749,000 as of March 31, 2024[5] - Total assets as of September 30, 2024, were HKD 6,075,058,000, down from HKD 6,226,120,000 as of March 31, 2024[15] - Total liabilities increased to HKD 2,499,569,000 from HKD 2,459,594,000 in the previous period[15] Dividends and Share Repurchases - The board of directors has resolved not to declare an interim dividend for the six months ended September 30, 2024, compared to an interim dividend of HKD 0.01 per share for the same period last year[2] - The total cost for share repurchases during the year was approximately HKD 19.999 million, with 17,964,000 shares repurchased and subsequently cancelled[14] - The company did not declare any dividends for the interim period[20] Impairment and Credit Losses - The impairment loss for the six months ended September 30, 2024, was HKD 103,264,000, significantly higher than HKD 17,063,000 in the previous year[16] - The expected credit loss for joint venture loans increased to HKD 238,013,000 as of September 30, 2024, compared to HKD 135,029,000 as of April 1, 2024, reflecting a significant rise in impairment losses[28] - The expected credit loss on joint venture loans resulted in a net impairment loss of HKD 103,000,000 for the period ending September 30, 2024[51] Financial Position and Ratios - The group maintained a healthy financial position with total bank balances and cash amounting to HKD 351,300,000 as of September 30, 2024, down from HKD 441,500,000 on March 31, 2024[46] - The current ratio improved from 0.85 times on March 31, 2024, to 1.51 times at the end of the reporting period[46] - The debt-to-equity ratio increased to 44.2% as of September 30, 2024, compared to 38.1% on March 31, 2024[48] - The group's total loans secured by properties were HKD 1,431,000,000 as of September 30, 2024, with a collateral value of approximately HKD 2,434,300,000[53] Business Operations and Outlook - The construction department's backlog of contracts was valued at HKD 4.652 billion as of September 30, 2024[34] - The group is currently involved in multiple construction projects, including residential developments in Tuen Mun and Kowloon Tong, with ongoing site works expected to complete next year[38] - The group has received planning approval for redevelopment projects in Chai Wan and Kwai Chung, with demolition work already commenced[38] - The construction materials department anticipates growth in demand due to government housing projects and the recovery of the private residential market[44] - The outlook for the construction industry remains optimistic, with the government planning to provide approximately 410,000 public housing units over the next decade[43] - The group is focusing on generating positive cash flow and maintaining a low debt-to-asset ratio to enhance sustainability amid market challenges[45] - The group is expanding its business network in the Greater Bay Area, leveraging the growth of e-commerce platforms in mainland China[45] Governance and Compliance - The group maintained compliance with all applicable corporate governance codes during the reporting period[57] - The company has engaged Deloitte to assist in the review of the interim financial statements for the six months ending September 30, 2024[59] - The unaudited consolidated financial statements have been reviewed by the audit committee[59] - The board of directors includes a mix of executive and non-executive members, ensuring diverse oversight[60]
兴胜创建(00896) - 2025 - 中期业绩