Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 867,001 thousand, representing a 15.7% increase from HKD 749,157 thousand in 2023[2] - Gross profit for the same period was HKD 190,709 thousand, up 45% from HKD 131,458 thousand year-on-year[2] - Profit attributable to owners of the company decreased to HKD 17,538 thousand, down 15.4% from HKD 20,811 thousand in the previous year[2] - Basic earnings per share for the period was HKD 1.75, compared to HKD 2.08 in 2023, reflecting a decline of 15.8%[2] - Operating profit for the six months was HKD 39,764 thousand, an increase from HKD 35,191 thousand in the same period last year[4] - Total comprehensive income for the period was HKD 29,057 thousand, compared to HKD 24,152 thousand in 2023, marking a 20.1% increase[10] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 639,357 thousand, up from HKD 622,241 thousand as of March 31, 2024[13] - Current assets increased to HKD 635,451 thousand from HKD 617,413 thousand, indicating a growth in liquidity[13] - The company’s total equity attributable to owners increased to HKD 492,349 thousand from HKD 470,294 thousand, showing a growth of 4.7%[15] - Total liabilities decreased to HKD 136,128 thousand as of September 30, 2024, from HKD 142,737 thousand as of March 31, 2024, showing a reduction of 4.6%[40] Cash Flow - For the six months ended September 30, 2024, the company reported a net cash outflow from operating activities of HKD (29,530) thousand, compared to HKD (91,899) thousand for the same period in 2023, representing a significant improvement[21] - The total cash and cash equivalents at the end of the period were HKD 168,298 thousand, down from HKD 230,524 thousand at the end of the same period last year, indicating a decrease of 27%[21] - The company incurred financing cash outflows of HKD (32,434) thousand, a stark contrast to a cash inflow of HKD 1,153 thousand in the prior year, highlighting a shift in financing strategy[21] - Operating cash used in operations was HKD (31,985) thousand, a reduction of 66% compared to HKD (93,377) thousand in the same period last year, reflecting improved operational efficiency[21] Revenue Segmentation - Revenue from construction business, including formwork services, was HKD 589,531 thousand, slightly up from HKD 583,265 thousand in the previous year, while e-commerce business revenue increased to HKD 277,470 thousand from HKD 165,892 thousand[36] - The construction business segment generated contract revenue of HKD 567,879 thousand from formwork services, an increase of 13% from HKD 500,795 thousand in the previous year[36] - Reported segment revenue for the construction business was HKD 583,265 thousand, while e-commerce business revenue was HKD 277,470 thousand, totaling HKD 867,001 thousand for the six months ended September 30, 2024, representing a 15.7% increase from HKD 749,157 thousand in the same period of 2023[41] Expenses - Selling and administrative expenses increased to approximately HKD 151,100,000 from HKD 96,700,000 in the previous year, mainly due to increased sales commission expenses related to e-commerce[86] - Employee costs, including director remuneration, rose to HKD 130,777 thousand for the six months ended September 30, 2024, compared to HKD 120,665 thousand in the previous year, an increase of 8.8%[47] - The company reported a total income tax expense of HKD 10,788 thousand for the six months ended September 30, 2024, compared to HKD 7,927 thousand in the same period of 2023, reflecting an increase of 36.5%[49] Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions until September 30, 2024, except for the separation of the roles of Chairman and CEO, which are currently performed collectively by the executive directors[106] - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing and supervising the financial reporting process and risk management[114] - The interim results announcement has not been audited by external auditors but has been reviewed by the audit committee[115] Future Outlook - The board remains confident in the future development of the group's operational scale despite challenges in the construction business in Hong Kong[89] - The company is focused on expanding its e-commerce operations in China, which has shown significant growth potential in recent periods[36]
智勤控股(09913) - 2025 - 中期业绩