Financial Performance - The group recorded revenue of approximately HKD 248,366,000 for the six months ended September 30, 2024, a decrease of 12.0% compared to HKD 282,337,000 for the same period in 2023[2] - Gross profit for the six months ended September 30, 2024, was approximately HKD 36,676,000, with a gross margin of 14.8%, compared to HKD 40,799,000 and a gross margin of 14.5% for the same period in 2023[2] - Profit attributable to owners of the company for the six months ended September 30, 2024, was approximately HKD 16,312,000, an increase of 9.3% from HKD 14,919,000 for the same period in 2023[2] - Basic and diluted earnings per share for the six months ended September 30, 2024, were both HKD 2.0, compared to HKD 1.9 for the same period in 2023[4] - The group reported other income and gains of HKD 2,166,000 for the six months ended September 30, 2024, compared to HKD 1,362,000 for the same period in 2023[4] - The group experienced a decrease in financial costs to HKD 551,000 for the six months ended September 30, 2024, down from HKD 1,027,000 for the same period in 2023[4] - The group’s pre-tax profit reached HKD 16,312,000 for the six months ended September 30, 2024, compared to HKD 14,919,000 for the same period in 2023, indicating an increase of 9%[27] Dividends - The board declared an interim dividend of HKD 0.6 per share for the six months ended September 30, 2024, compared to HKD 0.7 per share for the same period in 2023[2] - The interim dividend declared is HKD 0.6 per share, amounting to approximately HKD 4,865,000, down from HKD 5,600,000 in the same period last year[51] Assets and Liabilities - The group's total assets less current liabilities as of September 30, 2024, amounted to HKD 431,487,000, slightly up from HKD 426,945,000 as of March 31, 2024[6] - Current assets increased to HKD 491,500,000 as of September 30, 2024, compared to HKD 427,420,000 as of September 30, 2023[6] - Current liabilities rose to HKD 138,252,000 as of September 30, 2024, compared to HKD 99,229,000 as of September 30, 2023[6] - The group's total assets increased to HKD 98,692,000 as of September 30, 2024, compared to HKD 85,879,000 as of March 31, 2024, indicating a growth of 15%[29] - The asset-liability ratio was approximately 9.1% as of September 30, 2024, compared to about 8.5% on March 31, 2024[70] Employee Costs - The total employee costs, including directors' remuneration, amounted to HKD 45,664,000 for the six months ended September 30, 2024, up from HKD 41,963,000 in the same period of 2023, marking an increase of 9%[24] - Employee costs for the period amounted to approximately HKD 45,664,000, compared to approximately HKD 41,963,000 in the same period last year, reflecting an increase of about 6.5%[83] - The group employed 205 employees as of September 30, 2024, an increase from 188 employees as of September 30, 2023[83] Cash Flow and Financial Management - Cash and cash equivalents increased by approximately HKD 2,666,000 or 2.7% to about HKD 101,599,000 as of September 30, 2024, due to improved cash flow management[65] - The group’s bank loans amounted to HKD 22,354,000 as of September 30, 2024, down from HKD 23,594,000 on March 31, 2024, with interest rates based on the Hong Kong best lending rate minus 2.75%[69] - The company’s bank loan interest expenses decreased to HKD 388,000 for the six months ended September 30, 2024, down from HKD 796,000 in the same period of 2023, representing a reduction of 51%[22] Project and Business Development - The group secured multiple electromechanical projects, maintaining a stable contract amount of approximately HKD 1 billion during the period[41] - The group continues to develop its business and enhance its capability to secure new electromechanical engineering projects in both private and public sectors[41] - The group secured 12 new projects with a total contract value of approximately HKD 342,049,000 during the period[56] - The Hong Kong government plans to provide sufficient land supply for the construction of approximately 80,000 residential units over the next five years, which presents significant opportunities for the group[58] - The group aims to explore new business opportunities in innovative technology, energy-saving, and environmental protection sectors[59] Research and Development - The group is actively participating in research programs and has established a joint laboratory with Hong Kong universities to promote advanced technology applications[39] - The group has donated HKD 4,000,000 to establish a joint laboratory with Hong Kong Polytechnic University to promote technology applications in education[60] - The group completed a commercial building chiller replacement project, utilizing an AI management system, resulting in over a 30% reduction in total energy consumption and a decrease of 370 tons in annual carbon emissions[61] Corporate Governance and Compliance - The board of directors is committed to maintaining high corporate governance standards to enhance operational efficiency and shareholder returns[91] - The mid-term financial statements have been reviewed by Deloitte, ensuring compliance with the Hong Kong Institute of Certified Public Accountants' standards[95] - The mid-term report for 2024 will be distributed to shareholders and available on the company's and the stock exchange's websites[96] - The group has maintained sufficient public float in compliance with the listing rules of the Hong Kong Stock Exchange[90] Other Financial Information - The group had capital commitments of HKD 10,353,000 as of September 30, 2024, which included commitments for property, plant, and equipment[73] - The group had performance guarantees of HKD 91,265,000 as of September 30, 2024, down from HKD 94,428,000 on March 31, 2024[74] - The group did not have any significant investments during the period[78] - The group has not made any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[79] - There are no significant events affecting the group that have occurred after the reporting period[82] - The group has no significant foreign currency risk as its monetary assets, liabilities, and transactions are primarily denominated in Hong Kong dollars[81] - No significant investments or capital asset plans have been disclosed beyond what has been announced[80]
高陞集团控股(01283) - 2025 - 中期业绩