Financial Performance - For the six months ended September 30, 2024, the company reported total revenue of HKD 251,421,000, a decrease of 6.7% compared to HKD 269,381,000 for the same period in 2023[2] - Gross profit for the same period was HKD 58,241,000, slightly up from HKD 57,416,000, indicating a gross margin improvement[2] - The net profit for the period was HKD 21,335,000, representing an increase of 5.2% from HKD 20,275,000 in the previous year[3] - Basic and diluted earnings per share increased to HKD 2.33 from HKD 2.20, reflecting a growth of 5.9%[3] - Total comprehensive income for the period was HKD 24,303,000, significantly higher than HKD 6,773,000 in the same period last year[9] - Revenue from watch manufacturing and trading for the six months ended September 30, 2024, was HKD 197,100, a decrease of 5.4% from HKD 209,565 in the same period of 2023[19][21] - The segment profit for property development and investment increased to HKD 95,747 for the six months ended September 30, 2024, compared to HKD 105,717 in the same period of 2023, reflecting a decrease of 9.5%[19][21] - Bank interest income decreased to HKD 8,541 for the six months ended September 30, 2024, from HKD 9,128 in the previous year, a decline of 6.4%[25][21] - The group reported a net profit of HKD 21,335 for the six months ended September 30, 2024, compared to HKD 20,275 for the same period in 2023, representing an increase of 5.2%[19][21] Assets and Liabilities - Non-current assets increased to HKD 5,910,458,000 from HKD 5,700,183,000, showing a growth of 3.7%[12] - Current assets rose to HKD 3,213,743,000, up from HKD 2,880,414,000, marking an increase of 11.6%[12] - The company's total liabilities increased to HKD 4,194,612,000 from HKD 3,489,037,000, reflecting a rise of 20.2%[14] - The group reported accounts receivable of approximately HKD 876,000,000 as of September 30, 2024, down from HKD 1,054,000,000 as of March 31, 2024[40] - The group’s accounts payable and notes payable totaled approximately HKD 57,564,000 as of September 30, 2024, compared to HKD 28,293,000 as of March 31, 2024, indicating a significant increase[44] - As of September 30, 2024, the total borrowings of the group amounted to approximately HKD 5,358,000,000, with a repayment term of 20 years[53] - The group's capital debt ratio as of September 30, 2024, was 1.60, up from 1.34 as of March 31, 2024[53] Investment Properties - The company continues to focus on enhancing its investment properties, which increased in value to HKD 5,262,763,000 from HKD 5,059,548,000[12] - The group’s total investment properties increased to HKD 5,262,763 as of September 30, 2024, up from HKD 4,890,225 as of April 1, 2023, reflecting a growth of 7.6%[36] Dividends and Shareholder Returns - The group declared a final dividend of HKD 0.012 per share for the year ended September 30, 2024, down from HKD 0.018 per share in 2023, a decrease of 33.3%[35] - The group does not recommend any interim dividend for the six months ended September 30, 2024, consistent with the previous year[48] - The profit attributable to shareholders for the same period was approximately HKD 21,335,000, an increase from HKD 20,242,000 in the previous year, reflecting a growth of about 5.4%[49] Corporate Governance - The company has adhered to the corporate governance code, with independent non-executive directors reviewing accounting principles and risk management practices[64] - The company has established an audit and risk management committee to oversee financial reporting and internal controls[64] - The company has confirmed compliance with the securities trading code for directors during the review period[65] - The company believes that the exemption of the chairman and managing director from rotation at the annual general meeting aligns with the group's best interests[63] - The company has not specified terms for the appointment of non-executive directors, but they must retire and seek re-election at the annual general meeting[61] Ongoing Projects - The company has ongoing construction of a mixed-use building at 88 Queen Street East, Toronto, with a total area of 50,000 square meters, expected to be completed in 2025[71] - The group is nearing completion of the interior decoration and renovation works for its luxury residential project located at 1 South Bay Road, Hong Kong[50] Share Repurchase - The company repurchased a total of 120,000 shares at an average price of HKD 0.537, with a total expenditure of HKD 64,573[60] Other Financial Highlights - The group recognized a net gain of HKD 28,640 from fair value changes of financial assets for the six months ended September 30, 2024, compared to HKD 1,980 in the same period of 2023[25]
NATIONAL ELEC H(00213) - 2025 - 中期业绩