Revenue Performance - Revenue for the six months ended September 30, 2024, was HKD 89,731,000, representing a 33.5% increase from HKD 67,191,000 in the same period last year[2] - The group's revenue from civil engineering and related management services for the six months ended September 30, 2024, was HKD 89,731,000, an increase of 33.6% compared to HKD 67,191,000 for the same period in 2023[21] - For the six months ended September 30, 2024, the company's revenue was approximately HKD 89,700,000, an increase of 33.5% compared to HKD 67,200,000 for the same period in 2023, primarily due to increased revenue from project W61[44] Profit and Loss - The operating loss for the period was HKD (7,805,000), an improvement of 11.4% compared to HKD (8,813,000) in the previous year[4] - The loss attributable to owners of the company for the period was HKD (8,903,000), which is a 28.7% increase from HKD (6,918,000) in the prior year[4] - Basic and diluted loss per share was HKD (0.89), up 29.0% from HKD (0.69) in the previous year[4] - The group incurred a pre-tax loss of HKD 8,502,000 for the six months ended September 30, 2024, compared to a loss of HKD 4,539,000 for the same period in 2023[28] Gross Profit and Margins - The company reported a gross profit of HKD 2,628,000, compared to HKD 1,350,000 in the previous year, indicating a significant improvement[4] - The gross profit margin for the six months ended September 30, 2024, was 2.9%, compared to 2.0% in 2023, indicating a slight improvement but still at a low level[48] Assets and Liabilities - Non-current assets increased to HKD 14,436,000 from HKD 11,122,000, reflecting a growth of 29.0%[6] - Current assets decreased slightly to HKD 302,779,000 from HKD 305,718,000, a decline of 1.0%[6] - Total assets less current liabilities stood at HKD 296,071,000, down from HKD 304,063,000, a decrease of 2.6%[8] - The net asset value attributable to owners of the company was HKD 294,125,000, down from HKD 303,028,000, a decline of 2.9%[8] - As of September 30, 2024, trade payables were HKD 9,388,000, a slight decrease from HKD 9,566,000 as of March 31, 2024[42] - As of September 30, 2024, the group's undrawn bank financing amounts to approximately HKD 75,000,000, unchanged from March 31, 2024[56] - The capital debt ratio as of September 30, 2024, is approximately 0.3%, down from 0.4% as of March 31, 2024[57] Income and Other Gains - The group reported other income of HKD 894,000 for the six months ended September 30, 2024, compared to HKD 102,000 in the same period of 2023, indicating a significant increase[26] - Other income and net other gains or losses for the six months ended September 30, 2024, amounted to approximately HKD 900,000, a significant increase of 776.5% from HKD 100,000 in 2023, attributed to increased insurance claims[48] Financing and Costs - The company’s financing costs increased to HKD (168,000) from HKD (72,000), reflecting a rise of 133.3%[4] - Employee costs for the six months ended September 30, 2024, are approximately HKD 21,400,000, compared to HKD 23,100,000 for the same period in 2023[67] Future Outlook and Strategy - The company won a civil engineering project (Project W61) in May 2024, with a contract value of approximately HKD 560,000,000, scheduled to run from June 2024 to December 2028[44] - The company plans to actively participate in government tender projects, particularly in civil engineering, to secure more project revenue amid expected economic downturns in Hong Kong and mainland China[53] - The company anticipates continued high operating costs and price increases due to geopolitical uncertainties and supply chain disruptions, despite its business being less affected than other industries[53] - The company aims to enhance its bidding capabilities to secure more successful tenders and explore various business opportunities within the construction industry to create greater shareholder value[53] Cash and Cash Equivalents - As of September 30, 2024, the company had cash and cash equivalents of approximately HKD 24,900,000, a decrease of about HKD 17,400,000 from HKD 42,300,000 as of March 31, 2024, primarily due to losses incurred and purchases of property, machinery, and equipment[54] Dividends - The group did not declare any interim dividends for the six months ended September 30, 2024, consistent with the previous year[34] - The board has not declared an interim dividend for the six months ended September 30, 2024[77] Other Information - The group has no major investments or future plans for significant capital assets as of September 30, 2024[60] - There are no significant contingent liabilities as of September 30, 2024[64] - The actual application of the net proceeds has been slower than expected due to delays caused by the COVID-19 pandemic and adverse weather conditions[70] - The net proceeds from the public offering in March 2020, after deducting listing expenses of approximately HKD 45,200,000, amount to approximately HKD 79,800,000, which has been fully utilized[69] - As of September 30, 2024, the group has pledged bank deposits of approximately HKD 4,400,000 as collateral for bank financing[63]
生兴控股(01472) - 2025 - 中期业绩