Financial Performance - Revenue for the six months ended 30 September 2024 decreased to HK$49,448,000, down 26.8% from HK$67,520,000 in 2023[3] - Profit for the period was HK$27,985,000, a decline of 47.4% compared to HK$53,165,000 in the previous year[3] - Basic earnings per share dropped to HK1.04 cents, down from HK1.98 cents in 2023, reflecting a 47.5% decrease[3] - Total comprehensive income for the period was HK$28,691,000, down 42.0% from HK$49,380,000 in 2023[11] - The profit before taxation for the six months ended September 30, 2024, was HK$30,534,000, down from HK$57,987,000 in 2023, a decrease of 47.4%[52] - For the six months ended September 30, 2024, the Group recorded revenue of approximately HK$49 million, a decrease of approximately 26.7% compared to the previous financial period[124] - The profit for the same period was approximately HK$28 million, representing a decrease of 47.3% compared to the prior period[124] Revenue Breakdown - For the six months ended 30 September 2024, total revenue from contracts with customers was HK$4,197,000, an increase from HK$3,727,000 in the same period of 2023, representing a growth of approximately 12.6%[41] - Commission and brokerage income from securities broking increased to HK$2,674,000 from HK$2,005,000, reflecting a growth of approximately 33.4%[42] - Management and handling fees rose to HK$612,000 from HK$525,000, marking an increase of about 16.6%[42] - Investment management fees in asset management increased to HK$774,000 from HK$668,000, which is an increase of approximately 15.9%[42] - Revenue from broking increased to HK$3,409,000 in 2024 from HK$2,979,000 in 2023, representing a growth of 14.4%[52] - Financing segment revenue decreased significantly to HK$26,070,000 in 2024 from HK$45,390,000 in 2023, a decline of 42.5%[52] - Properties investment revenue rose to HK$19,181,000 in 2024, compared to HK$18,403,000 in 2023, marking an increase of 4.2%[52] - Revenue from precious metal trading services decreased to HK$14,000 from HK$80,000, indicating a decline of approximately 82.5%[43] Expenses and Costs - Administrative and other operating expenses increased to HK$14,653,000 from HK$13,080,000, reflecting a rise of 12.0%[6] - Finance costs increased to HK$3,380,000 from HK$2,543,000, marking a 33.0% increase[6] - Staff costs for the six months ended September 30, 2024, were HK$6,197,000, down from HK$7,017,000 in 2023, a reduction of 11.7%[60] - Administrative and operating expenses amounted to approximately HK$14.7 million, accounting for approximately 29.6% of the Group's revenue, up from 19.4% as of 30 September 2023[145] Assets and Liabilities - As of 30 September 2024, net assets were HK$2,765,498,000, a decrease from HK$2,790,284,000 as of 31 March 2024[15] - Cash and cash equivalents increased to HK$398,210,000 from HK$307,555,000, representing a growth of 29.5%[15] - Non-current assets as of September 30, 2024, totaled HK$1,980,623,000, an increase from HK$1,970,470,000 as of March 31, 2024[57] - The Group's total trade receivables, net of allowance for credit loss, increased to HK$54,973,000 as of 30 September 2024, compared to HK$42,995,000 as of 31 March 2024[78] - Margin client receivables after expected credit loss are approximately HK$23,745,000 as of 30 September 2024, down from HK$28,214,000 as of 31 March 2024[80] - The Group's interest-bearing loan receivables, net of allowance for credit loss, decreased to HK$534,319,000 as of 30 September 2024, down from HK$603,097,000 as of 31 March 2024[78] - The Group's total deposits as of 30 September 2024 are HK$953,000, compared to HK$946,000 as of 31 March 2024[78] Dividends - The company did not declare any interim dividend for the period, consistent with the previous year[6] - The total amount of interim dividend declared and paid was approximately HK$53,646,000, consistent with the previous year[118] - The Board resolved not to propose any interim dividend for the six months ended September 30, 2024[119] Governance and Compliance - The company has established both a remuneration committee and a nomination committee to oversee its governance practices[188][189] - The company has complied with the corporate governance code as per the Listing Rules, with the exception of the absence of formal appointment letters for directors[197] - All directors have confirmed compliance with the Model Code for Securities Transactions throughout the reporting period[199] - The audit committee reviewed the Group's unaudited condensed consolidated financial statements for the six months ended September 30, 2024, and found compliance with applicable accounting standards[182] Economic Outlook - The geopolitical situation and economic adjustments in Hong Kong are expected to create both opportunities and challenges for the Group moving forward[132] - The economy is expected to steadily improve in the second half of 2024, with anticipated benefits from pro-growth measures by the government[146] - The signing of the Regional Comprehensive Economic Partnership Agreement is expected to enhance regional economic integration, benefiting Hong Kong's economy[153]
美建集团(00335) - 2025 - 中期业绩