Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 201,360,000, an increase of 3.9% from HKD 194,597,000 in the same period of 2023[6] - The gross profit for the same period was HKD 34,899,000, representing a gross margin of approximately 17.3% compared to 16.7% in the previous year[6] - The operating profit increased to HKD 18,097,000, up from HKD 16,681,000, reflecting a growth of 8.5% year-on-year[6] - The net profit attributable to equity holders for the period was HKD 6,909,000, a significant recovery from a loss of HKD 12,695,000 in the prior year[6] - The company reported a total comprehensive income of HKD 7,062,000 for the period, compared to a loss of HKD 12,695,000 in the same period last year[8] - Basic earnings per share for the six months ended September 30, 2024, were HKD 6,909,000, compared to a loss of HKD 12,695,000 in 2023, marking a significant turnaround[42] Revenue Sources - For the six months ended September 30, 2024, the total revenue from the group's public minibus and resident bus services was HKD 201,360,000, representing an increase of 3.9% from HKD 194,597,000 in the same period of 2023[27] - The revenue from public minibus services was HKD 198,007,000, up from HKD 191,562,000, indicating a growth of 3.8%[27] - Revenue increased by 3.5% to HKD 201,360,000, driven by a 0.6% rise in passenger volume and fare increases on 56 routes ranging from 4.8% to 14.3%[82] - The total number of passengers for the company's public minibus service increased to approximately 27,684,000, up from 27,528,000 in the previous year[78] Cash Flow and Investments - The net cash inflow from operating activities for the six months ended September 30, 2024, was HKD 53,940,000, slightly down from HKD 54,155,000 in the previous year[16] - The net cash outflow from investing activities was HKD 1,247,000, compared to an inflow of HKD 9,968,000 in the same period last year[16] - The total capital expenditure for the period was HKD (2,128,000), an increase from HKD (1,271,000) in the previous year[16] - The group's total capital expenditure for the period was HKD 2,805,000, an increase from HKD 1,939,000 in the previous year, primarily for the purchase of two new minibuses[105] Assets and Liabilities - As of September 30, 2024, total assets amounted to HKD 209,558,000, a decrease from HKD 248,443,000 as of March 31, 2024[12] - The company's total liabilities were HKD 174,373,000, down from HKD 209,443,000, indicating a reduction in financial obligations[12] - The net asset value decreased to HKD 35,185,000 from HKD 39,000,000, reflecting a decline in equity[12] - As of September 30, 2024, the current liabilities net amount was HKD 40,959,000, with a current ratio of 0.62[96] Dividends and Shareholder Information - The company declared a special dividend of HKD 10,877,000 during the period, impacting the retained earnings[13] - The company declared a special dividend of HKD 4.0 cents per ordinary share for the six months ended September 30, 2024, totaling HKD 10,877,000, compared to no special dividend in the same period of 2023[41] - The major shareholders include HSBC International Trust with 132,527,000 shares (48.73%) and JETSUN with 117,677,000 shares (43.27%) [122] Operational Efficiency and Challenges - The company continues to focus on enhancing operational efficiency and exploring market expansion opportunities in the public transport sector[6] - The group faced challenges from rising operational costs, particularly fuel and labor expenses, which may necessitate future fare adjustments[109] - The company anticipates the arrival of a second batch of imported mainland drivers in the second half of the fiscal year to alleviate labor shortages and enhance operational capacity[108] Employee and Administrative Expenses - Employee benefits expenses, including directors' remuneration, increased to HKD 100,077,000 for the six months ended September 30, 2024, compared to HKD 97,289,000 in 2023, reflecting a rise of about 2.8%[36] - Administrative expenses rose by 2.9% to HKD 20,389,000, reflecting ongoing operational costs[82] - The group employed 1,186 staff as of September 30, 2024, a slight increase from 1,183 on March 31, 2024[105] Governance and Compliance - The audit committee reviewed the unaudited interim financial information and provided recommendations to the board on November 29, 2024 [127] - The company has complied with the corporate governance code throughout the six months ending September 30, 2024 [126] - The company has maintained a strong governance framework, ensuring compliance with relevant regulations [126]
进智公共交通(00077) - 2025 - 中期财报