Financial Performance - Revenue for the six months ended September 30, 2024, was RMB 104,254,000, representing an increase of 2% from RMB 102,224,000 in the same period of 2023[8]. - Gross profit for the same period was RMB 63,641,000, down 9% from RMB 69,678,000 year-on-year[8]. - Operating profit decreased to RMB 41,147,000, a decline of 17% compared to RMB 49,502,000 in the previous year[8]. - Profit for the period was RMB 20,575,000, down 9% from RMB 22,604,000 in the prior year[12]. - Basic and diluted earnings per share were 4.1 RMB cents, compared to 4.5 RMB cents in the previous year[8]. - Total comprehensive income for the period was RMB 20,642,000, down from RMB 25,431,000 in the same period of 2023[12]. - Other net gains increased to RMB 2,084,000 from RMB 1,140,000 year-on-year[8]. - Selling and administrative expenses rose to RMB 24,578,000, up from RMB 21,316,000 in the previous year[8]. - Finance income increased to RMB 1,560,000, compared to RMB 1,329,000 in the same period of 2023[8]. - The company reported an income tax charge of RMB 22,131,000 for the period, compared to RMB 28,159,000 in the previous year[8]. - Total comprehensive income for the six months ended September 30, 2024, was RMB 20,642, compared to RMB 25,431 for the same period in 2023, reflecting a decline of 18.7%[22]. Cash Flow and Assets - Cash generated from operations was RMB 12,578 for the six months ended September 30, 2024, a significant improvement from a cash outflow of RMB 4,992 in the same period last year[26]. - Cash and cash equivalents at the end of the period were RMB 155,491, down from RMB 204,047 at the end of September 30, 2023, marking a decrease of 23.8%[26]. - The company paid dividends of RMB 9,359 during the period, compared to RMB 18,892 in the same period last year, a reduction of 50.5%[26]. - As of September 30, 2024, total net assets increased to RMB 860,506, up from RMB 849,223 as of March 31, 2024, representing a growth of 1.5%[14]. - Current liabilities decreased to RMB 481,024 as of September 30, 2024, from RMB 518,508 as of March 31, 2024, a decrease of 7.2%[14]. - Non-current liabilities increased slightly to RMB 880,548 from RMB 869,274, reflecting a rise of 1.6%[14]. - Cash and bank deposits totaled RMB 155,491,000 as of September 30, 2024, down from RMB 175,162,000, representing a decrease of approximately 11.2%[82]. Property and Development - The Group operates primarily in the Chinese Mainland, focusing on property sales and development in Dongguan, Huizhou, and Foshan[46]. - For the six months ended September 30, 2024, the revenue from property sales was RMB 104,254,000, compared to RMB 102,224,000 for the same period in 2023, reflecting a growth of approximately 2%[41]. - As of September 30, 2024, properties under development for sale amounted to RMB 186,359,000, an increase from RMB 174,698,000 as of March 31, 2024, reflecting a growth of approximately 10.0%[80]. - Completed properties held for sale decreased to RMB 742,208,000 from RMB 790,038,000, indicating a decline of about 6.1%[80]. - The Group's customer base was diversified, with no single customer accounting for more than 10% of the total revenue during the reporting period[43]. Taxation and Liabilities - The total income tax charge for the six months ended September 30, 2024, was RMB 22,131,000, compared to RMB 28,159,000 in 2023, reflecting a reduction of approximately 21.5%[57]. - The provision for Enterprise Income Tax (EIT) was RMB 5,654,000 for the period, down from RMB 14,463,000 in 2023, representing a decrease of approximately 60.9%[57]. - The Group's outstanding guarantees to banks for mortgage arrangements decreased to RMB 275,591,000 from RMB 347,753,000, a reduction of about 20.7%[92]. Corporate Governance and Compliance - The interim financial report has been prepared in accordance with the same accounting policies as the annual financial statements for the year ended March 31, 2024[30]. - The Group has not applied any new standards or interpretations that are not yet effective for the current accounting period, ensuring consistency in financial reporting[37]. - The audit committee reviewed the unaudited interim results and had no disagreements with the accounting treatment and policies adopted[198]. - The company complied with the Corporate Governance Code during the period and will continue to review its practices[199]. Shareholder Information - Mr. Ho Cheuk Fai held a total of 366,667,500 shares, representing 72.56% of the Company[159]. - Honford Investments holds 82,500,000 shares, representing 16.33% of the total shares[178]. - TMF holds 204,402,000 shares, which accounts for 40.45% of the total shares[178]. - The share option scheme adopted on August 26, 2022, was terminated on August 30, 2023, with no outstanding options remaining at the termination date[165]. - A new share option scheme was approved and adopted on August 30, 2023, which is valid for 10 years, leaving approximately 9 years remaining[168]. Future Outlook - The Group is optimistic about the long-term development of the real estate market, anticipating a gradual recovery in housing demand and sales performance in the second half of the year[120][123]. - The Group plans to diversify its business expansion strategy by integrating cultural, tourism, commercial, and residential elements to enhance operational efficiency[122][124]. - Current real estate regulatory policies include easing measures and economic incentives aimed at stabilizing the market, which may improve market sentiment[9].
嘉创地产(02421) - 2025 - 中期财报