Financial Performance - The group’s total comprehensive income for the period ending April 1, 2024, was HKD 88,085 thousand, reflecting a decrease from the previous period[12]. - The company recorded a net profit of approximately HKD 94,000 for the six months ended September 30, 2024, a decrease of about HKD 613,000 compared to the same period in 2023[129]. - The group recorded a profit attributable to equity holders of approximately HKD 94,000 for the period, a decrease from approximately HKD 707,000 for the six months ended September 30, 2023[155]. - Total revenue for the six months ended September 30, 2024, was HKD 125,442,000, a decrease from HKD 128,904,000 in the same period of 2023, representing a decline of approximately 1.9%[193]. - The total revenue for the six months ended September 30, 2024, was HKD 5,381,000, down from HKD 6,534,000 in 2023, reflecting a decrease of approximately 17.6%[99]. - Revenue from foundation engineering for the period was approximately HKD 125.4 million, a decrease of about HKD 3.5 million or 2.7% compared to HKD 128.9 million for the six months ended September 30, 2023[148]. - Other income for the period was approximately HKD 5.4 million, a decrease of about HKD 1.1 million or 17.6% compared to HKD 6.5 million for the six months ended September 30, 2023[151]. - Administrative expenses for the period were approximately HKD 8.0 million, a decrease of about HKD 2.1 million or 21.6% compared to HKD 10.1 million for the six months ended September 30, 2023[152]. - The group’s gross profit for the period was approximately HKD 3.8 million, an increase of about HKD 0.6 million or 17.2% compared to HKD 3.2 million for the six months ended September 30, 2023[149]. - Basic earnings per share for the period was HKD 0.01, a decrease from HKD 0.06 in the same period of 2023[193]. Cash Flow and Liquidity - The group’s cash flow management remains conservative, ensuring sufficient liquidity to meet business development needs[3]. - Operating cash flow for the six months ended September 30, 2024, was HKD 13,491 thousand, a significant improvement from a cash outflow of HKD 7,416 thousand in the same period of 2023[196]. - Cash used in investing activities decreased to HKD 787 thousand from HKD 2,639 thousand year-over-year, indicating improved capital management[196]. - Cash used in financing activities increased to HKD 8,529 thousand compared to HKD 2,041 thousand in the previous year, primarily due to a reduction in amounts payable to a director[196]. - The net increase in cash and cash equivalents was HKD 4,175 thousand, contrasting with a decrease of HKD 12,096 thousand in the same period last year[196]. - The ending cash and cash equivalents balance as of September 30, 2024, was HKD 8,044 thousand, up from HKD 5,125 thousand in 2023[196]. - The company’s cash and cash equivalents increased to approximately HKD 8.0 million as of September 30, 2024, up from HKD 3.9 million as of March 31, 2024[186]. Assets and Liabilities - The asset-liability ratio improved to approximately 42.4% as of September 30, 2024, down from 50.3% as of March 31, 2024, due to a reduction in total liabilities and an increase in equity[187]. - Total non-current assets decreased to HKD 26,362,000 as of September 30, 2024, from HKD 29,567,000 as of March 31, 2024[168]. - Trade and other receivables decreased to HKD 92,454,000 from HKD 104,098,000, reflecting a decline of approximately 11.2%[183]. - Contract assets increased significantly to HKD 110,531,000 from HKD 86,549,000, representing an increase of about 27.7%[183]. - The total amount of trade and other payables as of September 30, 2024, was HKD 52,858,000, compared to HKD 34,563,000 as of March 31, 2024, reflecting an increase in liabilities[60]. - The group’s expected credit loss provision for trade and other receivables was HKD 1,042 thousand as of September 30, 2024[30]. - The expected credit loss provision at the end of the period was HKD 1,042,000, compared to HKD 2,184,000 at the end of March 31, 2024[103]. Employee and Administrative Costs - Employee costs, including director remuneration, amounted to HKD 34,926 thousand for the six months ended September 30, 2024, compared to HKD 37,238 thousand in the previous year[20]. - The total employee cost for the period was approximately HKD 35.7 million, compared to HKD 38.0 million for the six months ended September 30, 2023[164]. - Salary, bonuses, and allowances for the six months ended September 30, 2024, totaled HKD 1,912,000, compared to HKD 1,882,000 for the same period in 2023, marking an increase of about 1.6%[65]. - As of September 30, 2024, the group employed a total of 111 employees, down from 113 employees as of March 31, 2024[164]. Investments and Future Plans - The group invested approximately HKD 0.9 million in the acquisition of properties, plants, and equipment during the period[4]. - The group plans to participate in more private sector projects, diversifying beyond reliance on public sector projects[1]. - The company plans to continue acquiring suitable machinery to meet market demand and maintain its market share[135]. - The company is aware of the increasing demand for residential and commercial buildings, which is expected to support the construction industry's growth[135]. Legal and Compliance - A service provider has initiated a lawsuit against the group for outstanding payments of approximately HKD 31.4 million related to several construction projects[79]. - The company has confirmed compliance with the corporate governance code, with no deviations reported except for the dual role of the chairman and CEO[90]. - The board will continue to review the separation of the roles of chairman and CEO in due course, considering the overall situation of the group[90]. - The company has not made any provisions for potential claims and lawsuits related to work injuries and violations, as the board believes these will not have a significant impact on the financial statements[68]. Shareholder Information - Major shareholder Oriental Castle holds 75% of the shares, with 900,000,000 shares owned[72]. - The company has adopted a share option scheme since May 14, 2018, but no options have been granted, exercised, canceled, or lapsed as of September 30, 2024[75].
俊裕地基(01757) - 2025 - 中期财报