Financial Performance - Revenue for the six months ended September 30, 2024, was HK$179,187,000, an increase from HK$156,658,000 in the same period of 2023, representing a growth of approximately 14.4%[17] - Gross profit for the period was HK$48,564,000, compared to HK$46,665,000 in the previous year, indicating a year-on-year increase of about 4.1%[17] - Profit for the period attributable to owners of the Company was HK$10,531,000, down from HK$22,163,000 in the prior year, reflecting a decrease of approximately 52.5%[17] - Basic earnings per share decreased to 1.05 HK cents from 2.22 HK cents, a decline of about 52.8% year-on-year[17] - Total comprehensive income for the period was HK$16,993,000, down from HK$25,618,000 in the same period last year, a decrease of approximately 33.9%[17] Expenses and Costs - Administrative expenses for the period were HK$30,322,000, slightly up from HK$31,504,000 in the previous year, showing a decrease of about 3.8%[17] - The cost of revenue rose by approximately 18.8%, from HK$109,993,000 for the corresponding period last year to HK$130,623,000 for the Period[139] - Finance costs decreased from HK$481,000 to HK$422,000, attributed to gradual repayments of bank borrowings[154] Taxation - For the six months ended 30 September 2024, the Group reported a current period Hong Kong profits tax of HK$1,802,000, a decrease of 5.2% from HK$1,900,000 in the same period of 2023[39] - The total tax expense for the six months ended September 30, 2024 was HK$2,388,000, a slight decrease of 1.4% compared to HK$2,421,000 in 2023[39] - Income tax expenses for the period were HK$2,388,000, with an effective tax rate of approximately 12.3%[185] Investments and Acquisitions - The Group acquired property, plant, and equipment amounting to HK$3,110,000, a significant increase from HK$1,472,000 in the previous six months, aimed at expanding vessel capacity for chartering services[43] - A total consideration of HK$23,800,000 was paid to acquire an additional 34% equity interest in YLTK, with HK$11,900,000 paid in cash and the remaining balance settled by a promissory note[43] - The vendors of YLTK guaranteed that the audited net profits attributable to the owners for the financial years ending March 31, 2024, 2025, and 2026 will not be less than HK$70,000,000[43] Financial Position - The Group's bank and other borrowings and lease liabilities were HK$4,342,000 as of September 30, 2024, secured by equipment with a carrying value of HK$4,363,000[53] - The Group reported net current assets of HK$136,739,000 as of September 30, 2024, an increase from HK$128,305,000 as of March 31, 2024[121] - The current ratio improved from approximately 2.0 as of March 31, 2024, to approximately 2.3 as of September 30, 2024[121] - The gearing ratio decreased to 2.7% as of September 30, 2024, down from 7.3% as of March 31, 2024, primarily due to the repayment of a promissory note[121] Revenue Sources - Revenue for the six months ended September 30, 2024, primarily from vessel chartering and related services, ship management, and marine construction services[192] - The Group's revenue from related party transactions includes vessel chartering and related services, contributing to overall financial performance[114] - The Group's operating segments include (i) vessel chartering and related services, (ii) ship management services, and (iii) marine construction services[192] Operational Strategy - The Company continues to explore opportunities for market expansion and new strategies to enhance operational efficiency[11] - The Group expects a gradual decrease in demand for vessel chartering services due to the completion of several major long-term contracts[148] - The Group will continue to invest in its vessel fleet and seek other opportunities to capture business growth[149] - The Group has secured subcontract marine construction agreements with a total contract sum of approximately HK$540 million, providing stable revenue until March 2027[151] Shareholder Information - The Company’s directors, Wen Tsz Kit Bondy and Chan Sau Ling Amy, each hold a 55.94% shareholding interest in the company through a controlled corporation[88] - As of September 30, 2024, there were no other interests or short positions disclosed by directors or chief executives in the company’s shares or debentures[93] Other Financial Metrics - The average trade receivables turnover days slightly decreased from approximately 67.9 days to 67.7 days[120] - The Group's trade and other receivables increased from HK$71,380,000 as of 31 March 2024 to HK$82,373,000 as of 30 September 2024[186] - The company reported a total of 28,783,000 HKD in trade payables as of September 30, 2024, down from 35,882,000 HKD as of March 31, 2024, indicating a decrease of approximately 19.7%[99]
润利海事(02682) - 2025 - 中期财报