Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 130,674,000, representing a 21.14% increase from HKD 107,796,000 in the same period of 2023[1] - Gross profit for the same period was HKD 13,376,000, up from HKD 12,148,000, indicating an increase of 10.11%[1] - Profit before tax rose to HKD 2,254,000, compared to HKD 1,353,000, reflecting a growth of 66.54%[1] - Net profit for the period was HKD 2,019,000, an increase of 77.43% from HKD 1,139,000 in the previous year[1] - Basic earnings per share increased to HKD 0.10, up from HKD 0.06, marking a 66.67% rise[1] - Other income and gains for the period were HKD 1,614,000, compared to HKD 790,000, showing a significant increase of 104.56%[3] - Total revenue for the six months ended September 30, 2024, was approximately HKD 130.7 million, an increase of about HKD 22.9 million or 21.2% compared to HKD 107.8 million for the same period in 2023[78] - The gross profit for the six months ended September 30, 2024, was approximately HKD 13.4 million, up from HKD 12.1 million for the same period in 2023, while the gross profit margin decreased from 11.3% to 10.2%[81] - Net profit for the six months ended September 30, 2024, rose to approximately HKD 2.0 million from HKD 0.9 million for the same period in 2023[85] Assets and Liabilities - The total assets less current liabilities amounted to HKD 128,866,000, slightly up from HKD 127,744,000[9] - The net asset value as of September 30, 2024, was HKD 127,800,000, compared to HKD 125,781,000, indicating a growth of 1.61%[11] - Trade receivables as of September 30, 2024, amounted to HKD 19,677,000, a decrease from HKD 34,525,000 as of March 31, 2024, reflecting a reduction of approximately 43.1%[36] - The current portion of trade and other receivables was HKD 25,094,000 as of September 30, 2024, down from HKD 41,220,000 as of March 31, 2024, representing a decline of approximately 39.0%[36] - Total contract liabilities decreased from HKD (19,319,000) as of March 31, 2024, to HKD (11,302,000) as of September 30, 2024, a reduction of approximately 41.5%[43] - The group's current assets net value as of September 30, 2024, was approximately HKD 120.1 million, with a current ratio of about 3.9 times[86] - The group reported a total of HKD 4,779,000 in bank borrowings as of September 30, 2024, which was not present as of March 31, 2024[62] - The effective interest rate for floating bank loans ranged from 6.4% to 7.2% as of September 30, 2024, compared to 6.0% to 7.8% as of March 31, 2024[61] Operational Highlights - The company continues to focus on providing design, supply, and installation services for exterior wall engineering and building metal finishing projects[15] - The group’s operations are concentrated in providing design, supply, and installation services for external wall projects and building metal facade projects, with all revenue derived from customers in Hong Kong[24] - The group has 17 ongoing projects with a total contract value of approximately HKD 920.1 million and project backlog of about HKD 413.1 million[74] - The group secured 5 new projects with a total contract value of approximately HKD 208.5 million during the six months ended September 30, 2024[74] Employee and Management - Total employee costs for the six months ended September 30, 2024, amounted to HKD 18,223 thousand, compared to HKD 17,590 thousand in the same period of 2023, reflecting an increase of 3.6%[30] - Short-term employee benefits for key management personnel were HKD 4,463,000 for the six months ended September 30, 2024, compared to HKD 4,295,000 for the same period in 2023, reflecting an increase of approximately 3.9%[72] - As of September 30, 2024, the group has 59 full-time employees, an increase from 58 as of March 31, 2024[99] Financial Management and Risks - The group maintains a cautious approach to financial resource management, ensuring sufficient cash and cash equivalents to manage operational needs and cash flow volatility[88] - The group does not foresee any significant foreign exchange risks during the reporting period, as it primarily operates in Hong Kong[92] - The group has available bank financing of approximately HKD 76.5 million, with HKD 25.5 million utilized for bank loans and performance guarantees[88] - The group's debt-to-equity ratio as of September 30, 2024, is approximately 3.7%, calculated based on total bank loans divided by total equity[88] Dividends and Share Options - The company did not declare any interim dividend for the six months ended September 30, 2024[1] - The board of directors decided not to declare any interim dividend for the six months ending September 30, 2024, consistent with the previous year[106] - The total number of share options available for issuance under the share option plan is 200,000,000, representing 10% of the company's total issued share capital[104] - The group has adopted a share option scheme to incentivize employees and attract talent, with no options granted, cancelled, exercised, or lapsed since its adoption[103] Compliance and Governance - The audit committee has reviewed and approved the unaudited condensed consolidated financial statements for the six months ending September 30, 2024, ensuring compliance with applicable accounting standards and listing rules[115]
智中国际(06063) - 2025 - 中期业绩