Financial Performance - Revenue for the three months ended September 30, 2024, was HKD 3,878,000, a decrease of 36.5% compared to HKD 6,066,000 for the same period in 2023[4] - Gross profit for the six months ended September 30, 2024, was HKD 3,103,000, representing an increase of 89.0% from HKD 1,640,000 for the same period in 2023[4] - The company reported a loss before tax of HKD 375,000 for the three months ended September 30, 2024, compared to a loss of HKD 12,024,000 for the same period in 2023[4] - The company reported a net loss of approximately HKD 5,210,000 for the six months ended September 30, 2024, compared to a loss of HKD 10,755,000 for the same period in 2023, indicating an improvement in performance[14] - The company reported a loss before tax of HKD 5,210,000 for the six months ended September 30, 2024, compared to a loss of HKD 10,484,000 for the same period in 2023, showing a reduction in losses[20] - The company reported a basic and diluted loss per share of HKD 0.00114 for the six months ended September 30, 2024, compared to a loss of HKD 0.051 for the same period in 2023, reflecting a significant improvement[27] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 112,044,000, an increase from HKD 107,168,000 as of March 31, 2024[6] - The company's net asset value decreased to HKD 10,390,000 as of September 30, 2024, down from HKD 11,390,000 as of March 31, 2024[7] - The company’s total liabilities increased to HKD 101,654,000 as of September 30, 2024, compared to HKD 95,778,000 as of March 31, 2024[7] - The total equity as of September 30, 2024, was HKD 20,101,000, a decrease from HKD 9,602,000 in the previous year, reflecting ongoing financial challenges[8] - The debt-to-equity ratio increased from approximately 54.3% as of March 31, 2024, to about 55.3% as of September 30, 2024[61] Cash Flow and Financing - The net cash used in operating activities was HKD 25,496,000 for the six months ended September 30, 2024, compared to HKD 12,139,000 for the same period in 2023, indicating increased operational cash outflow[9] - The company raised HKD 9,767,000 through the issuance of new shares during the reporting period, which contributed to financing activities[9] - Cash and cash equivalents increased to HKD 368,000 as of September 30, 2024, from HKD 16,890,000 at the end of the previous period, reflecting a significant decrease in liquidity[9] Operational Performance - The company primarily engages in the design, procurement, and installation services of water circulation systems, including pools and fountains, indicating a focus on infrastructure services[10] - For the six months ended September 30, 2024, the total revenue from construction management services was HKD 7,219,000, a decrease of 1.1% compared to HKD 7,425,000 for the same period in 2023[19] - The segment profit for construction management services was HKD 3,103,000 for the six months ended September 30, 2024, compared to HKD 459,000 for the same period in 2023, indicating a significant improvement[20] Administrative and Operating Expenses - Administrative expenses for the six months ended September 30, 2024, were HKD 8,246,000, a decrease from HKD 13,857,000 for the same period in 2023[4] - Total administrative expenses for the six months ended September 30, 2024, were HKD 8,246,000, a decrease from HKD 13,857,000 for the same period in 2023[20] - Service costs reduced by approximately HKD 7,300,000 or 63.8% to about HKD 4,100,000 for the six months ending September 30, 2024, from HKD 11,400,000 in the previous period[51] Share Capital and Equity - The company issued 22,560,000 new shares on August 19, 2024, and 19,540,000 new shares on August 26, 2024, increasing the total issued shares to 351,610,000 as of September 30, 2024[43][44] - The issued share capital increased to HKD 35,161,000 as of September 30, 2024, from HKD 29,301,000 as of March 31, 2024[62] Governance and Compliance - The company maintains a robust corporate governance framework to enhance accountability and transparency, adhering to the GEM Listing Rules[86] - The audit committee has been established according to GEM Listing Rules and is responsible for reviewing financial statements and monitoring risk management processes[88] - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM Listing Rules[84] Market and Strategic Outlook - The company is facing challenges such as high labor costs and skilled labor shortages while continuing to seek new projects in Hong Kong and China[47] - The board remains confident in the long-term business outlook in Hong Kong, mainland China, and Macau, despite potential financial performance impacts in the next six months due to adverse conditions[47] - The company continues to explore new business opportunities and partnerships through its advisory network, which may lead to future growth[77] Taxation and Legal Matters - The company has not incurred any income tax expenses due to the tax-exempt status of its entities established in the Cayman Islands, Samoa, and the British Virgin Islands[24] - As of September 30, 2024, the company has not been involved in any significant litigation or arbitration[90]
浩柏国际(08431) - 2025 - 中期财报