Financial Performance - The company recorded revenue of approximately HKD 480.0 million for the six months ended September 30, 2024, representing an increase of about 60.4% compared to HKD 299.2 million for the same period in 2023[5]. - Net profit increased from approximately HKD 3.0 million for the six months ended September 30, 2023, to about HKD 12.2 million for the current period, primarily due to increased revenue from construction projects related to the Three Runway System[5]. - Revenue for the six months ended September 30, 2024, reached HKD 479,970,000, a 60.5% increase from HKD 299,220,000 in the same period of 2023[58]. - The group reported a total segment profit of HKD 22,039,000 for the six months, compared to HKD 12,653,000 in the same period last year, reflecting a 74.5% increase[63]. - The group’s pre-tax profit for the six months was HKD 15,072,000, compared to HKD 3,052,000 in the previous year[63]. Revenue Breakdown - Revenue from construction engineering was approximately HKD 330.7 million, accounting for about 68.9% of total revenue, a significant increase from 52.5% in the previous period[11]. - Revenue from construction machinery leasing was approximately HKD 149.3 million, accounting for about 31.1% of total revenue, an increase from 47.5% in the previous period[15]. - Construction engineering revenue was HKD 330,662,000, up 110.5% from HKD 157,192,000 year-over-year[58]. - Construction machinery leasing revenue increased to HKD 149,308,000, a rise of 5.4% compared to HKD 142,028,000 in the previous year[58]. Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 613,285,000, compared to HKD 597,266,000 as of March 31, 2024[70]. - Total liabilities increased slightly to HKD 344,491,000 from HKD 340,654,000 as of March 31, 2024[70]. - The company's non-current assets decreased to HKD 209,185,000 as of September 30, 2024, from HKD 235,260,000 as of March 31, 2024, a decline of 11.1%[40]. - Current liabilities totaled HKD 298,981,000 as of September 30, 2024, compared to HKD 278,283,000 as of March 31, 2024, representing an increase of 7.4%[40]. Profitability and Costs - The group's gross profit increased from approximately HKD 19.5 million to about HKD 34.1 million, with a gross margin rising from 6.5% to 7.1%[16][17]. - Other income rose from approximately HKD 2.0 million to about HKD 3.9 million, primarily due to an increase in non-operating income such as maintenance and other service revenues[18]. - The total employee cost for the period was approximately HKD 123.9 million, up from HKD 101.8 million in the previous period[31]. - The group's financing costs decreased by approximately 13.6%, from about HKD 7.2 million to HKD 6.2 million, due to a reduction in interest-bearing debt[20]. Shareholder Returns and Dividends - The company does not plan to declare any interim dividends for the period[24]. - The company did not declare or recommend any dividends for the six months ended September 30, 2024, consistent with the previous year[82]. Market Outlook - The Hong Kong government projects a peak in basic engineering expenditure over the next three years, averaging about HKD 90 billion annually, which is a 17% increase compared to the previous five-year average[6]. - The construction market in Hong Kong is expected to face short-term declines due to major infrastructure projects, but the government views the construction industry as a key economic driver[25][27]. Corporate Governance - The company maintains a strong commitment to corporate governance, ensuring transparency and accountability in its operations[126]. - The company has adopted the corporate governance code as per the listing rules and has complied with its provisions during the reporting period, except for a specific deviation regarding the separation of roles between the chairman and CEO[127]. - The company is focused on enhancing its corporate governance practices to align with its business operations and development[127]. Management and Personnel - The total compensation for key management personnel during the reporting period was HKD 3,525,000, a slight increase from HKD 3,510,000 in the previous year, representing a 0.43% increase[122]. - Independent non-executive director Mr. Li Wentai has resigned from the board of directors of Runhong Silicon Group Holdings Limited, effective November 18, 2024[143]. - The audit committee, consisting of three independent non-executive directors, has reviewed the group's unaudited condensed interim financial information for the period[144].
进升集团控股(01581) - 2025 - 中期财报