Financial Performance - Total revenue increased by approximately HKD 128.2 million or 28.8% to HKD 573.2 million for the six months ended September 30, 2024, compared to HKD 445.0 million for the same period in 2023[10]. - Net profit for the six months ended September 30, 2024, was approximately HKD 3.8 million, an increase of about HKD 0.4 million or 10.0% from HKD 3.4 million in the same period of 2023[18]. - Basic and diluted earnings per share for the six months ended September 30, 2024, were HKD 0.37, compared to HKD 0.34 for the same period in 2023[18]. - The group recorded a gross profit of HKD 39.4 million for the six months ended September 30, 2024, compared to HKD 35.0 million in the same period of 2023[21]. - Gross profit rose by approximately HKD 4.4 million or 12.6% to about HKD 394 million for the six months ended September 30, 2024, compared to HKD 35 million for the same period in 2023[67]. Revenue and Growth Drivers - The increase in revenue was mainly driven by a significant rise in superstructure construction services, offset by a decrease in RMAA services and substructure construction services[66]. - The total revenue for the six months ended September 30, 2024, was HKD 573,152,000, compared to HKD 444,981,000 for the same period in 2023, reflecting a growth of approximately 28.8%[44]. Cash Flow and Financial Position - The net cash used in operating activities for the six months ended September 30, 2024, was HKD (20,248,000), an improvement from HKD (32,537,000) in the same period of 2023[33]. - The company reported a net cash increase of HKD 20,901,000 for the six months ended September 30, 2024, compared to a decrease of HKD (19,328,000) in the same period of 2023[33]. - The financing activities generated a net cash inflow of HKD 15,916,000 for the six months ended September 30, 2024, compared to HKD 13,265,000 in the same period of 2023, showing an increase of approximately 19.9%[33]. - The company’s cash and cash equivalents increased to HKD 63,907,000 as of September 30, 2024, from HKD 37,672,000 in the same period of 2023, reflecting a growth of approximately 69.5%[33]. Assets and Liabilities - Current assets totaled HKD 559.2 million as of September 30, 2024, compared to HKD 508.7 million as of March 31, 2024[24]. - As of September 30, 2024, the total assets of the group were approximately HKD 630.3 million, with total liabilities and shareholders' equity amounting to HKD 499.5 million and HKD 130.8 million, respectively[74]. - The company’s total non-current liabilities decreased to HKD 1,020,000 as of September 30, 2024, from HKD 1,448,000 as of March 31, 2024, a reduction of approximately 29.6%[27]. - The capital-to-debt ratio as of September 30, 2024, was approximately 143.9%, an increase from 130.8% as of March 31, 2024, based on total interest-bearing debt of approximately HKD 188.2 million[75]. Dividends and Share Capital - The group does not recommend the payment of an interim dividend for the six months ended September 30, 2024[18]. - The company did not declare an interim dividend for the six months ended September 30, 2024, consistent with the same period in 2023[51]. - The issued share capital of the company was HKD 10,130,000, with a total of 1,013,000,000 shares issued as of September 30, 2024[81]. Operational Focus and Strategy - The group will continue to focus on its core business, including substructure and superstructure construction services, as well as repair, maintenance, alteration, and addition (RMAA) services[11]. - The group aims to enhance its influence in the industry and seek favorable returns for shareholders[11]. - The company will continue to focus on its core business areas, including substructure construction, superstructure construction, and RMAA services, while exploring opportunities from public sector projects[63]. Employee and Governance - The group employed a total of 186 employees as of September 30, 2024, with employee costs amounting to approximately HKD 51.7 million for the six months ended September 30, 2024, compared to HKD 44.5 million for the same period in 2023[88]. - The company has complied with the principles and provisions of the corporate governance code during the reporting period[114]. - The audit committee currently consists of three independent non-executive directors, including Dr. Wai Wing Hong, Mr. Tong Hin Sum, and Mr. Chow Kam Wing, with Mr. Chow serving as the chairman[137]. Risk and Commitments - The group had no significant capital commitments or major investments planned[83]. - The group had no significant acquisitions or disposals of subsidiaries or associates during the six months ended September 30, 2024[84]. - There were no significant contingent liabilities as of September 30, 2024[85]. - The group had no foreign exchange risk as of September 30, 2024[80].
正利控股(03728) - 2025 - 中期财报