Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 504,064,000, a decrease of 2.8% compared to HKD 517,490,000 in the same period of 2023[5]. - Gross profit increased to HKD 104,582,000, representing a 10.4% increase from HKD 94,661,000 year-on-year[5]. - Profit for the period rose to HKD 27,991,000, up 37.8% from HKD 20,340,000 in the previous year[5]. - Basic earnings per share improved to HKD 2.5, compared to HKD 1.6 for the same period last year[5]. - Total comprehensive income for the period was HKD 50,127,000, significantly higher than HKD 9,051,000 in the prior year[12]. - The company reported a profit of HKD 14,256,000 for the period, a decrease from HKD 20,340,000 in the previous period[23]. - The net profit for the first half of 2024 was approximately HKD 28.0 million, an increase of about HKD 7.7 million or 38% compared to the first half of 2023[132]. Revenue Breakdown - Revenue from IT application and solution development services decreased to HKD 31,280,000, a decline of 32.6% from HKD 46,441,000 in 2023[36]. - Revenue from IT infrastructure solution services was HKD 373,405,000, down 4.7% from HKD 391,980,000 in 2023[36]. - Revenue from the IT application and solution development segment was approximately HKD 31.3 million, a decrease of about 33% from HKD 46.5 million in the 2023 interim period[111]. - Revenue from the IT infrastructure solution segment was approximately HKD 373.4 million, down about 5% from HKD 392.0 million in the 2023 interim period, primarily due to decreased demand from banking and financial clients[112]. - The IT secondment services segment generated revenue of approximately HKD 16.0 million, an increase of about 37% from HKD 11.7 million in the 2023 interim period[113]. - The IT maintenance and support services segment reported revenue of approximately HKD 83.3 million, an increase of about 24% from HKD 67.3 million in the 2023 interim period[116]. Assets and Liabilities - Non-current assets increased to HKD 296,848,000 from HKD 274,788,000 as of March 31, 2024[15]. - Current assets decreased slightly to HKD 663,699,000 from HKD 679,718,000[15]. - Total liabilities decreased to HKD 339,164,000 from HKD 366,180,000, indicating improved financial stability[15]. - The company's equity attributable to shareholders rose to HKD 573,079,000 from HKD 537,704,000[17]. - Trade receivables as of September 30, 2024, amounted to HKD 295,035,000, down from HKD 354,798,000 as of March 31, 2024, indicating a decrease of 16.7%[81]. - The company's total current assets as of September 30, 2024, were HKD 311,498,000, down from HKD 363,306,000 as of March 31, 2024, representing a decrease of 14.2%[81]. - Trade payables decreased to HKD 172,828,000 from HKD 186,574,000, representing a reduction of approximately 7.3%[87]. Cash Flow and Investments - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 3,636,000, a decrease of 88.4% compared to HKD 31,162,000 in 2023[26]. - The net cash used in investing activities was HKD 28,521,000, compared to a net cash used of HKD 1,002,000 in 2023[26]. - The company paid dividends of HKD 8,777,000 to equity shareholders during the period, with an additional HKD 5,939,000 paid to non-controlling interests[26]. - The company has issued a new promissory note amounting to HKD 36,888,000, which is set to mature in 36 months at an interest rate of 2%[103]. - The company has a performance guarantee issued by banks amounting to HKD 11,526,000 as of September 30, 2024, down from HKD 12,220,000[91]. Operational Insights - The company anticipates ongoing challenges due to high labor costs and a shortage of experienced staff, while striving to secure new IT projects[118]. - Management remains optimistic about the company's prospects despite uncertainties in the global business environment, focusing on operational efficiency and financial stability[119]. - The company plans to continue monitoring risks and uncertainties closely, adjusting operational strategies as necessary to prepare for potential market fluctuations[119]. - The company is actively seeking investment opportunities that are beneficial to shareholders, although no specific plans have been announced[147]. - The company continues to explore suitable investment targets that have profitability and growth potential, as well as opportunities for mutually beneficial cooperation[155]. Corporate Governance - The company has complied with the corporate governance code as per the listing rules, with no significant changes in director information since the last annual report[172]. - The company has not identified any business or interest conflicts involving its directors or major shareholders during the reporting periods[178]. - The company has adopted the standard code for securities trading by directors, confirming compliance by all directors as of September 30, 2024[172]. - The company continues to review its corporate governance practices to enhance compliance and meet stakeholder expectations[171].
扬科集团(01460) - 2025 - 中期财报