Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 144,004,000, a slight increase from HKD 143,854,000 in the same period of 2023[15]. - The gross profit for the period was HKD 150,000, compared to HKD 3,950,000 in the previous year, indicating a significant decline[15]. - The total comprehensive expenses for the period amounted to HKD 19,239,000, up from HKD 11,576,000 in the same period last year, representing a 66.5% increase[14]. - The net loss for the period was HKD 20,047,000, compared to a loss of HKD 7,097,000 in the prior year, reflecting a 182.5% increase in losses[15]. - Basic loss per share for the period was HKD (1.32), compared to HKD (0.48) in the same period of 2023[17]. - The group incurred a pre-tax loss of HKD 19,291,000 for the six months ended September 30, 2024, compared to a loss of HKD 15,077,000 in the previous year[44]. - The total loss attributable to the company's owners for the six months ended September 30, 2024, was approximately HKD 20.0 million, compared to HKD 7.1 million for the same period in 2023[85]. - Revenue decreased from approximately HKD 304.6 million for the six months ended September 30, 2023, to approximately HKD 144.0 million for the same period in 2024, representing a decline of about HKD 160.6 million or 52.7%[76]. Assets and Liabilities - Non-current assets increased to HKD 240,843,000 as of September 30, 2024, from HKD 145,973,000 as of March 31, 2024, showing a growth of 64.8%[19]. - Current liabilities rose to HKD 164,153,000 from HKD 124,278,000, marking a 32.1% increase[20]. - The company's total equity decreased to HKD 135,151,000 from HKD 154,390,000, a decline of 12.4%[20]. - The group’s total assets as of September 30, 2024, amounted to HKD 376,397,000, with liabilities totaling HKD 231,029,000[47]. - The group’s debt-to-asset ratio increased to approximately 118.8% as of September 30, 2024, from 48.8% as of March 31, 2024, mainly due to increased bank borrowings[88]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 16,039,000 for the six months ended September 30, 2024, compared to a net outflow of HKD 83,246,000 for the same period in 2023[25]. - The net cash outflow from investing activities was HKD 86,814,000, significantly higher than HKD 12,911,000 in the previous year[25]. - The net cash inflow from financing activities increased to HKD 73,013,000 from HKD 7,241,000 year-on-year[25]. - The cash and cash equivalents at the end of the period were HKD 26,981,000, down from HKD 59,949,000 at the end of the previous year[25]. - The group maintained a cash balance of approximately HKD 27.0 million as of September 30, 2024, compared to HKD 23.9 million as of March 31, 2024[86]. Revenue Breakdown - The total revenue from customer contracts for the six months ended September 30, 2024, was HKD 141,027,000, a decrease of 53.2% from HKD 301,735,000 in the same period of 2023[40]. - Revenue from construction and engineering-related services was HKD 58,554,000, down 47% from HKD 110,542,000 in the previous year[36]. - Agricultural business revenue increased to HKD 45,291,000 from HKD 4,567,000 year-on-year, indicating a significant growth in this segment[40]. - The group reported segment revenue of HKD 144,004,000 for the six months ended September 30, 2024, compared to HKD 111,722,000 in construction and engineering, HKD 185,446,000 in oil, and HKD 7,438,000 in agriculture for the same period in 2023[44]. - The group’s revenue from oil trading was HKD 185,446,000, contributing significantly to the overall segment revenue[46]. Operational Expenses - The group’s total employee benefit expenses, including directors' remuneration, amounted to HKD 10,918,000 for the six months ended September 30, 2024, compared to HKD 9,256,000 in the prior year[53]. - Sales expenses increased from approximately HKD 0.9 million for the six months ended September 30, 2023, to approximately HKD 1.7 million for the same period in 2024, driven by higher costs in the bioenergy business[81]. - Administrative and other operating expenses rose by approximately 15.0% from about HKD 10.7 million for the six months ended September 30, 2023, to about HKD 12.3 million for the same period in 2024, mainly due to increased expenses in the bioenergy sector[82]. - Financing costs increased from approximately HKD 0.4 million for the six months ended September 30, 2023, to about HKD 1.9 million for the same period in 2024, primarily due to an increase in bank borrowings[84]. Strategic Initiatives - The company plans to implement cost-saving measures and review existing investments to improve cash flow and financial stability[31]. - The company is considering new business developments and financial instruments to support ongoing operations and liquidity[31]. - The company is actively exploring technologies and market development related to agricultural biomass to capitalize on opportunities arising from rural revitalization initiatives[75]. - The company anticipates that its biomass energy project, which is a key project in Shandong Province, will generate revenue and profit in the second half of the fiscal year[75]. - The company plans to allocate more resources to biomass clean energy projects to create long-term stable returns for shareholders[75]. Employee and Governance - The total employee count increased to 92 as of September 30, 2024, compared to 54 employees for the same period in 2023, with employee costs amounting to approximately HKD 10.9 million, up from HKD 9.3 million[104]. - The group provides competitive compensation and benefits to attract and retain high-quality employees, including performance-based bonuses and stock options[106]. - The audit committee consists of independent non-executive directors, ensuring compliance with listing rules regarding membership and qualifications[139]. - The audit committee has reviewed the group's financial statements for the six months ending September 30, 2024, and believes that the performance complies with applicable accounting standards and listing rules[141]. Shareholder Information - The board did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous period[107]. - As of September 30, 2024, Mr. Liu Zhan Cheng holds 74.86% of the issued share capital through Fujincheng Investment Holdings Co., Ltd.[116]. - As of September 30, 2024, there were no major shareholders or other individuals holding interests in the company's shares that required disclosure under the Securities and Futures Ordinance[121].
标准发展集团(01867) - 2025 - 中期财报