Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 504,064,000, a decrease of 3% compared to HKD 517,490,000 in the same period of 2023[4] - Gross profit increased by 10% to HKD 104,582,000 from HKD 94,661,000 year-on-year[4] - Net profit for the period rose by 38% to HKD 27,991,000, compared to HKD 20,340,000 in the previous year[4] - Basic earnings per share increased by 56% to HKD 2.5 from HKD 1.6 year-on-year[4] - Total comprehensive income for the period was HKD 50,127,000, significantly up from HKD 9,051,000 in the same period last year[9] - The group reported total revenue of HKD 504,064 thousand for the six months ended September 30, 2024, compared to HKD 517,490 thousand for the same period in 2023, representing a decrease of approximately 2.6%[27] - The gross profit for the reportable segments totaled HKD 104,582,000 for the six months ended September 30, 2024, compared to HKD 94,661,000 for the same period in 2023, indicating an increase of approximately 10.4%[37] - The group’s net profit for mid-2024 was approximately HKD 28.0 million, an increase of about HKD 7.7 million or 38% compared to mid-2023 (approximately HKD 20.3 million)[87] Revenue Breakdown - Revenue from Information Technology Application and Solution Development Services was HKD 31,280 thousand, down 32.7% from HKD 46,441 thousand in the previous year[29] - Revenue from Information Technology Infrastructure Solution Services was HKD 373,405 thousand, a decrease of 4.7% compared to HKD 391,980 thousand in the same period last year[29] - Revenue from Information Technology Borrowing Services increased to HKD 15,974 thousand, up 36.5% from HKD 11,725 thousand in the previous year[29] - Revenue from Information Technology Maintenance and Support Services rose to HKD 83,344 thousand, an increase of 23.8% from HKD 67,344 thousand in the same period last year[29] - Revenue from external customers for the reportable segments was HKD 517,490,000 for the six months ended September 30, 2023, while it was HKD 504,064,000 for the same period in 2024, showing a decline of about 2.6%[37] Assets and Liabilities - The company's non-current assets, including investment properties, amounted to HKD 200,488,000, an increase from HKD 174,958,000 as of March 31, 2024[11] - Current assets decreased to HKD 663,699,000 from HKD 679,718,000 as of March 31, 2024[11] - Total assets less current liabilities increased to HKD 621,383,000 from HKD 588,326,000[11] - The company’s total liabilities for the six months ended September 30, 2024, included interest expenses of HKD 1,020,000, compared to HKD 922,000 for the same period in 2023, indicating an increase of approximately 10.7%[42] - The group’s equity total is approximately HKD 598.8 million as of September 30, 2024, an increase from HKD 565.2 million as of March 31, 2024[100] Dividends - The company does not recommend the payment of any interim dividend for the six months ended September 30, 2024[4] - The company proposed a final dividend of HKD 0.01 per share for the year ending March 31, 2024, totaling HKD 8,776,000, compared to no dividend in 2023[48] Employee Costs - The company reported a significant increase in employee costs, totaling HKD 99,310,000 for the six months ended September 30, 2024, compared to HKD 85,235,000 for the same period in 2023, reflecting a rise of approximately 16.5%[41] - Employee costs for the first half of 2024 amounted to approximately HKD 99.3 million, compared to HKD 85.2 million in the first half of 2023, reflecting a year-on-year increase of about 16.1%[122] Foreign Exchange and Other Income - The company reported a foreign exchange gain of HKD 22,136,000 from the translation of financial statements of foreign subsidiaries[9] - The company reported a net gain from foreign exchange of HKD 131,000 for the six months ended September 30, 2024, compared to a loss of HKD 1,154,000 in 2023, indicating a significant turnaround[42] - Other income and net other gains for mid-2024 were approximately HKD 6.0 million, an increase of about HKD 4.1 million or 216% compared to mid-2023 (approximately HKD 1.9 million)[81] Corporate Governance - The board of directors has confirmed compliance with the standards for securities trading as of September 30, 2024[128] - The company is considering appointing a suitable candidate for the CEO position to comply with corporate governance guidelines[125] - The board will continue to review corporate governance practices to enhance governance standards and meet stakeholder expectations[126] - The Audit Committee has been established and consists of one non-executive director and two independent non-executive directors[136] Risks and Future Outlook - The company faces various risks and uncertainties that may adversely affect its business, performance, and financial condition, which are detailed in the board report for the fiscal year ending March 31, 2024[74] - The group is facing challenges such as high inflation rates and labor costs, but management remains optimistic about future prospects[75] - The group plans to focus on operational efficiency by adopting a light asset model to improve operational flexibility and reduce adverse impacts on the business[75] - The company is actively seeking suitable investment targets that have profitability and growth potential to enhance future earnings[116]
扬科集团(01460) - 2025 - 中期业绩