Financial Performance - Revenue for the six months ended September 30, 2024, was HK$49,448,000, a decrease of 26.8% compared to HK$67,520,000 for the same period in 2023[5] - Profit for the period was HK$27,985,000, down 47.4% from HK$53,165,000 in the previous year[5] - Total comprehensive income for the period was HK$28,691, down from HK$49,380 in the previous year, reflecting a decrease of 42.0%[37] - Basic earnings per share decreased to 1.04 HK cents from 1.98 HK cents year-on-year[5] - The Group's profit before taxation for the six months ended September 30, 2023, was HK$57,987,000, compared to HK$30,534,000 for the same period in 2024[160] Revenue Breakdown - The Group's total revenue for the six months ended September 30, 2024 was HK$4,197,000, an increase of 12.6% compared to HK$3,727,000 for the same period in 2023[112] - Revenue from broking increased to HK$3,409,000, up 14.4% from HK$2,979,000 in the previous year[131] - Revenue from assets management rose to HK$774,000, reflecting an increase of 15.9% from HK$668,000 in 2023[131] - Revenue from precious metal trading significantly decreased to HK$14,000, down 82.5% from HK$80,000 in the prior year[131] - Financing revenue, including margin clients and money lending, totaled HK$26,070,000, a decline of 42.6% from HK$45,390,000 in the previous year[131] Expenses and Financial Position - Administrative and other operating expenses increased to HK$14,653,000 from HK$13,080,000, reflecting a rise of 12%[5] - Cash and cash equivalents increased to HK$398,210,000 from HK$307,555,000, representing a growth of 29.5%[15] - Net current assets as of 30 September 2024 were HK$606,998, a decrease from HK$759,112 as of 31 March 2024, indicating a decline of 20.0%[40] - Total equity as of 30 September 2024 was HK$2,765,498, down from HK$2,790,284 as of 31 March 2024, representing a decrease of 0.9%[40] - The company reported a net cash used in financing activities of HK$27,371 for the six months ended 30 September 2024, compared to HK$118,633 in the previous year, indicating a significant reduction in financing outflows[43] Assets and Investments - Investment properties valued at HK$1,939,787,000 as of September 30, 2024, compared to HK$1,929,400,000 as of March 31, 2024[15] - The total non-current assets amounted to HK$2,158,710,000 as of September 30, 2024, compared to HK$2,031,382,000 as of March 31, 2024[15] - The Group's total loan receivables, net of allowance for credit loss, decreased to HK$534,319,000 from HK$603,097,000, reflecting a decline of approximately 11.4%[200] - The allowance for credit loss for trade receivables is HK$135,847,000, compared to HK$123,869,000, indicating an increase in provisions for potential credit losses[200] - The Group's investment properties' fair value at the end of the period is HK$1,939,787,000, up from HK$1,929,400,000, showing a net increase in fair value recognized in the consolidated income statement[199] Governance and Compliance - The Company has complied with the applicable code provisions set out in the Code on Corporate Governance Practices, except for the absence of formal letters of appointment for all directors[70] - The Company has adopted the Model Code for Securities Transactions by Directors and all directors have confirmed compliance with the required standards[75] - The audit committee reviewed the Group's unaudited condensed consolidated financial statements for the six months ended 30 September 2024, ensuring compliance with applicable accounting standards and adequate disclosures[80] - The Board of Directors consists of a mix of executive and independent non-executive directors, ensuring diverse oversight and governance[96] - The Company is principally engaged in investment holding and its subsidiaries provide a wide range of financial services including securities broking and corporate finance advisory[45] Market and Operational Insights - The Group's operations are primarily located in Hong Kong, Macau, and the People's Republic of China, with administrative functions conducted in Hong Kong[143] - The Group reported a significant decrease in revenue from Hong Kong, which was HK$31,771,000 compared to HK$48,895,000 in the previous year, representing a decline of 35%[144] - Macau revenue was HK$17,677,000, slightly down from HK$18,625,000, indicating a decrease of 5.1%[144] - The Group has no assessable profits arising in Macau for the periods ended September 30, 2024, and September 30, 2023[153] - The Group's reportable segments include broking, asset management, and real estate investment, among others, indicating a diversified business model[123]
美建集团(00335) - 2025 - 中期财报