Revenue and Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 138,092,000, a decrease of 2% from HKD 141,308,000 in the same period of 2023[3] - The company's contract revenue for the six months ended September 30, 2024, was approximately HKD 138.1 million, a decrease of about HKD 3.2 million compared to HKD 141.3 million in the same period of 2023[38] - Direct costs decreased to HKD 147,469,000 from HKD 162,797,000, resulting in a gross loss of HKD 9,377,000, improved from a gross loss of HKD 21,489,000 in 2023[3] - The gross loss decreased from approximately HKD 21.5 million in 2023 to about HKD 9.4 million in 2024, with the gross loss margin improving from 15.2% to 6.8%[38] - Operating loss for the period was HKD 17,175,000, significantly reduced from HKD 32,236,000 in the previous year[3] - The total comprehensive loss for the period was HKD 17,248,000, compared to HKD 32,393,000 in the same period last year[3] - Basic and diluted loss per share improved to HKD 2.08 from HKD 3.90 in the previous year[3] - For the six months ended September 30, 2024, the company reported a basic loss per share of HKD 0.021 (17,248,000 HKD loss) compared to a loss of HKD 0.039 (32,393,000 HKD loss) for the same period in 2023[24] Assets and Liabilities - Cash and bank balances decreased to HKD 58,638,000 from HKD 78,565,000 as of March 31, 2024[6] - Total assets decreased to HKD 392,831,000 from HKD 394,990,000[6] - Total equity decreased to HKD 244,332,000 from HKD 261,580,000[9] - The current ratio decreased to 2.6 as of September 30, 2024, from 3.0 as of March 31, 2024[39] - The debt-to-equity ratio increased to 5.3% as of September 30, 2024, from 5.0% as of March 31, 2024, primarily due to a decrease in total equity from losses incurred during the period[39] Operational Highlights - As of September 30, 2024, the company had a total of 10 ongoing projects contributing to revenue, with a total uncompleted contract amount of HKD 523.1 million[35] - The company did not secure any new contracts during the six months ended September 30, 2024[35] - The company’s administrative and other operating expenses decreased by approximately HKD 2.1 million to about HKD 9.2 million compared to HKD 11.3 million in the previous year[38] - As of September 30, 2024, the group had 49 full-time employees, an increase from 48 on March 31, 2024[42] Corporate Governance and Shareholder Matters - The company is committed to high standards of corporate governance and has adhered to the corporate governance code, with the exception of the separation of the roles of Chairman and CEO[50][51] - The board has decided not to declare an interim dividend for the six months ended September 30, 2024, consistent with the previous period[47] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the period[48] - The board expresses gratitude for the efforts of management and all employees, as well as support from shareholders and business associates during the period[56] Future Outlook - The board anticipates a recovery in the construction industry in Hong Kong over the coming years due to government policies aimed at increasing land supply and infrastructure investment[46] Other Financial Information - Other income increased to HKD 1,450,000 from HKD 530,000, driven by bank interest income and sales of scrap materials[18] - The group reported no capital commitments as of September 30, 2024[43] - There were no contingent liabilities other than those disclosed in note 11 as of September 30, 2024[44] - The interim financial report for the six months ended September 30, 2024, was reviewed by KPMG and is included in the report[53]
现恒建筑(01500) - 2025 - 中期业绩