Financial Performance - The company reported a total profit attributable to owners of HKD 9,453,000 for the six months ended September 30, 2024, compared to a loss of HKD 6,552,000 in the same period last year[3]. - Basic and diluted earnings per share were HKD 0.63, a significant improvement from a loss of HKD 0.44 per share in the previous year[3]. - The company reported a net profit attributable to shareholders of HKD 9,453 thousand for the six months ended September 30, 2024, compared to a loss of HKD 6,552 thousand in the same period of 2023[29]. - The profit attributable to the company's owners for the six months ended September 30, 2024, was approximately HKD 9.5 million, a significant increase of about 243.9% compared to a loss of about HKD 6.6 million for the same period in 2023[44]. - Other income increased from a loss of about HKD 4.4 million to approximately HKD 19.8 million, primarily due to a fair value change in financial assets amounting to about HKD 24.6 million[40]. Revenue and Projects - Total revenue for the six months was HKD 432,088,000, down 20.6% from HKD 543,918,000 in the same period last year[3][12]. - For the six months ended September 30, 2024, revenue was approximately HKD 432.1 million, a decrease from HKD 543.9 million for the same period in 2023, attributed to a decline in the number of projects in the template market due to a challenging economic environment[37]. - Total revenue decreased by approximately HKD 111.8 million or 20.6% to about HKD 432.1 million for the six months ended September 30, 2024, compared to HKD 543.9 million for the same period in 2023[61]. - Private sector project revenue was approximately HKD 324.7 million, accounting for about 75.1% of total revenue, while public sector project revenue was approximately HKD 107.4 million, accounting for about 24.9% of total revenue[61]. - The total number of new contracts awarded during the review period was 10, with a total contract value of approximately HKD 332.0 million[63]. Assets and Liabilities - Total assets as of September 30, 2024, were HKD 381,037,000, down from HKD 483,879,000 as of March 31, 2024[5]. - The total liabilities as of September 30, 2024, were HKD 249,283 thousand, a decrease from HKD 361,578 thousand as of March 31, 2024, indicating a reduction of approximately 30.9%[1]. - Current liabilities decreased to HKD 248,181,000 from HKD 360,228,000 as of March 31, 2024[5]. - The net asset value increased to HKD 131,754,000 from HKD 122,301,000 as of March 31, 2024[5]. - Trade receivables as of September 30, 2024, amounted to HKD 59,827 thousand, with an allowance for credit losses of HKD 10,334 thousand, resulting in a net trade receivable of HKD 49,493 thousand[31]. Costs and Expenses - Gross profit decreased to HKD 1,496,000, a decline of 85.1% compared to HKD 10,023,000 in the previous year[3]. - The group's gross profit decreased by approximately 85% from about HKD 10.0 million to about HKD 1.5 million, with a gross margin decline from approximately 1.8% to 0.3% due to project delays and additional costs[39]. - The total compensation cost recognized in the income statement for the six months ended September 30, 2024, was approximately HKD 263.3 million, compared to approximately HKD 294.7 million for the same period in 2023[60]. - Administrative expenses decreased by approximately 2.3% from about HKD 9.5 million to about HKD 9.3 million, mainly due to reduced headquarters operating costs[42]. - The financing costs for the six months ended September 30, 2024, were HKD 1,424 thousand, slightly down from HKD 1,482 thousand in the same period of 2023[26]. Strategic Focus and Market Conditions - The company continues to focus on template engineering services, which accounted for the entirety of its revenue in the current period[12]. - The company plans to adopt a more competitive pricing strategy to increase market share in the infrastructure formwork market due to a decrease in project numbers[64]. - The company aims to continue expanding its client base and implementing strict cost control measures on existing projects to enhance project management efficiency[64]. - The company focused primarily on the Hong Kong market during the reporting period, with 31 projects contributing to revenue[38]. Dividends and Acquisitions - The company did not declare any dividends for the interim period, consistent with the previous year[28]. - The board did not recommend any interim dividend for the six months ended September 30, 2024, consistent with the previous year[45]. - The group did not engage in any significant acquisitions or disposals of subsidiaries or associates during the reporting period[57]. Financial Position and Risk Management - The group maintained a prudent funding and treasury policy, closely monitoring its liquidity position to meet funding needs[47]. - There were no significant contingent liabilities or major capital commitments as of September 30, 2024[51][50]. - No significant impact on financial performance was noted from the adoption of new accounting standards during the reporting period[10].
建成控股(01630) - 2025 - 中期业绩