Financial Performance - For the six months ended September 30, 2024, the Group reported revenue of HK$242,449,000, an increase of 3.7% compared to HK$233,710,000 for the same period in 2023[23]. - The gross profit for the period was HK$23,409,000, a decrease of 41.0% from HK$39,786,000 in the prior year[23]. - The Group incurred a loss before income tax of HK$7,440,000, compared to a profit of HK$15,646,000 in the same period last year[23]. - The loss attributable to owners of the Company for the period was HK$7,622,000, contrasting with a profit of HK$12,830,000 in the previous year[23]. - Basic loss per share was HK(1.27) cents, compared to earnings of HK2.14 cents per share in the prior year[23]. - The company reported a net loss for the period of HK$4,362,000, compared to a profit of HK$12,830,000 in the previous period[33]. - The Group reported a loss for the Period of approximately HK$7.6 million, compared to a profit of approximately HK$12.8 million for the previous period[135]. Revenue and Income - Revenue from environmental hygiene and related services was HK$238,835,000, while revenue from airline catering support services was HK$3,614,000 for the six months ended September 30, 2024[53]. - Total income from sales of scrap materials decreased to HK$214,000, down 22.49% from HK$276,000 in the previous year[66]. - Other income, including sundry income, fell to HK$617,000, a decline of 51.06% from HK$1,262,000 in the prior period[66]. - Other income decreased by 46.0% to approximately HK$0.8 million, primarily due to lower bank deposit interest rates[127]. Expenses and Costs - General operating expenses increased to HK$31,636,000 from HK$25,642,000, reflecting a rise of 23.3%[23]. - The cost of inventories recognized as expenses increased to HK$8,719,000, up 46.06% from HK$5,958,000 in the previous year[72]. - Employee costs rose to HK$164,683,000, an increase of 18.66% from HK$138,810,000 in the same period last year[72]. - The Group's unallocated corporate expenses for the period were HK$2,359,000, contributing to the overall loss[53]. Assets and Liabilities - As of September 30, 2024, total assets amounted to HK$212,935,000, a decrease from HK$222,450,000 as of March 31, 2024, reflecting a decline of approximately 4.6%[26]. - Current assets decreased to HK$156,872,000 from HK$167,564,000, representing a decline of about 6.3%[26]. - Total liabilities as of September 30, 2024, were HK$71,307,000, compared to HK$70,728,000 as of March 31, 2024[61]. - Total equity decreased to HK$199,316,000 as of September 30, 2024, down from HK$211,300,000 as of March 31, 2024, indicating a decline of approximately 5.7%[28]. Cash Flow - Cash and cash equivalents increased to HK$117,806,000 from HK$93,559,000, marking a significant increase of approximately 25.9%[35]. - Net cash generated from operating activities for the six months ended September 30, 2024, was HK$30,622,000, compared to a net cash used of HK$2,378,000 in the same period of 2023[35]. - The Group's cash and cash equivalents amounted to approximately HK$117.8 million as of September 30, 2024, an increase from approximately HK$93.6 million as of March 31, 2024[146]. Strategic Outlook - Future strategies may include market expansion and potential new product developments to enhance revenue streams[19]. - The Group's financial position will be closely monitored as it navigates through the current economic challenges and aims for recovery in future periods[19]. - The Group faced intense competition in its environmental hygiene services segment, leading to a cautious approach to pricing and contract bidding[113]. Shareholding and Corporate Governance - As of September 30, 2024, Sze's Holdings Limited holds 432,000,000 shares, representing 72% of the company's equity[194]. - Rich Cheer Development Limited, as the trustee of the Sze Family Trust, also holds 432,000,000 shares, equating to 72% ownership[195]. - Madam Ng Sing Mui is the settlor of the Sze Family Trust and is deemed to have an interest in all 432,000,000 shares held by Sze's Holdings Limited[182]. - The total number of shares held by substantial shareholders is 432,000,000, which constitutes 72% of the company's total equity[196]. Acquisitions and Investments - The Group completed the acquisition of 37.5% equity interests in Lask JV Facility Management Services Limited on 14 November 2024[109]. - The Group entered into an agreement to acquire a 37.5% interest in a property management services group, with completion expected in November 2024[119]. - The acquisition of Lask JV Facility Management Services Limited was completed on November 14, 2024[164].
永顺控股香港(06812) - 2025 - 中期业绩