Financial Performance - The total revenue for the period was approximately HKD 134,194,000, a decrease of about HKD 48,436,000 or 26.5% compared to HKD 182,630,000 for the same period last year[12]. - Gross profit for the period was approximately HKD 11,379,000, with a gross margin of about 8.5%, down from 9.3% in the previous period[12][13]. - The net profit for the period was approximately HKD 346,000, a significant decrease from HKD 5,189,000 in the previous period[18]. - The company reported revenue of HKD 134,194,000 for the six months ended September 30, 2024, a decrease of 26.5% compared to HKD 182,630,000 for the same period in 2023[53]. - Gross profit for the period was HKD 11,379,000, down 33.4% from HKD 17,011,000 in the previous year[53]. - Operating profit decreased to HKD 3,866,000, representing a decline of 51.1% from HKD 7,904,000 in the prior period[53]. - The company recorded a profit attributable to owners of HKD 346,000, a significant drop of 93.3% compared to HKD 5,189,000 in the same period last year[53]. - Basic and diluted earnings per share were HKD 0.05, down from HKD 0.76 in the previous year[53]. Cash Flow and Financial Position - As of September 30, 2024, the bank balance was approximately HKD 25,973,000, up from HKD 17,307,000 as of March 31, 2024[19]. - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 42,381,000, compared to HKD 19,207,000 for the same period in 2023, representing a significant increase[61]. - The net cash used in investing activities was HKD 1,311,000 for 2024, a recovery from a net cash outflow of HKD 11,575,000 in 2023[61]. - The net cash used in financing activities increased to HKD 35,026,000 in 2024 from HKD 16,806,000 in 2023[61]. - Cash and cash equivalents amounted to HKD 25,973,000 as of September 30, 2024, an increase of 50.3% from HKD 17,307,000 as of March 31, 2024[98]. - Total liabilities decreased to HKD 226,601,000 from HKD 255,602,000 as of March 31, 2024[54]. - The company's net asset value increased slightly to HKD 181,730,000 from HKD 181,384,000 as of March 31, 2024[56]. Expenses and Costs - Administrative expenses increased by approximately HKD 691,000 or 6.4% to HKD 11,465,000 due to higher short-term lease costs and depreciation of right-of-use assets[16]. - The operating profit for the six months ended September 30, 2024, was impacted by employee expenses totaling HKD 24,480,000, down from HKD 33,410,000 in 2023, reflecting a decrease of 27%[76]. - Financing costs for the six months ended September 30, 2024, totaled HKD 3,520,000, an increase from HKD 2,715,000 in 2023, representing a rise of 30%[77]. - The depreciation expense for property, plant, and equipment was HKD 10,417,000 in 2024, compared to HKD 11,242,000 in 2023, showing a decrease of 7%[76]. Shareholder Information - The major shareholder, Creative Elite Global Limited, holds 495,000,000 shares, representing 72.29% of the total shares[33]. - The board has decided not to declare an interim dividend for the six months ending September 30, 2024[41]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2024, consistent with the previous year[82]. Projects and Future Outlook - The group had ten projects on hand with a total contract value of approximately HKD 351,896,000, with nine expected to be completed in the next fiscal year[8]. - The group anticipates that government-led infrastructure projects will drive demand for construction and foundation engineering services, supporting future business growth[9]. Assets and Liabilities - Non-current assets decreased to HKD 88,404,000 from HKD 100,715,000 as of March 31, 2024[54]. - Current assets decreased to HKD 95,688,000 from HKD 118,825,000 as of March 31, 2024[54]. - Trade receivables increased to HKD 48,406,000 as of September 30, 2024, compared to HKD 16,734,000 as of March 31, 2024[93]. - The total bank loans and other loans amounted to HKD 76,679,000 as of September 30, 2024, down from HKD 105,938,000 as of March 31, 2024, representing a decrease of 27.5%[102]. - Trade payables decreased to HKD 29,483,000 as of September 30, 2024, from HKD 41,560,000 as of March 31, 2024, a reduction of 29.0%[101]. Employment and Compensation - As of September 30, 2024, the total employee count is 92, with total salary costs approximately HKD 24,480,000, compared to HKD 33,410,000 for the six months ending September 30, 2023[26]. - The compensation for directors and key management personnel for the six months ended September 30, 2024, was approximately HKD 3,439,000, compared to HKD 3,602,000 for the same period in 2023[114]. - The company has maintained competitive salary and benefits levels for its employees, with no significant labor disputes reported during the period[26]. Investments and Capital Expenditures - There were no significant investments or acquisitions during the period[23][24]. - The capital commitments for the purchase of properties, plants, and equipment amount to approximately HKD 4,828,000 as of September 30, 2024, with no commitments reported as of March 31, 2024[27]. - Capital expenditures for property, plant, and equipment amounted to approximately HKD 930,000, a significant decrease from HKD 11,890,000 in the previous year[85]. Miscellaneous - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[36]. - The stock option plan adopted on October 24, 2016, remains valid for ten years, allowing the company to grant options to directors, employees, and consultants[38]. - As of September 30, 2024, the total number of stock options available for grant under the plan is 68,475,000, unchanged since April 1, 2024[40]. - No stock options have been granted, exercised, canceled, or lapsed under any of the company's plans during the six months ending September 30, 2024[40]. - The group is currently facing two labor claims arising from normal business operations, with no specific claim amounts determined yet[116]. - The direct or ultimate controlling party of the group is Creative Elite Global Limited, registered in the British Virgin Islands[117]. - The unaudited condensed consolidated interim financial statements for the six months ended September 30, 2024, were approved and authorized for issuance by the board on November 29, 2024[118].
上谕集团(01633) - 2025 - 中期财报