Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 335.631 million, a decrease of 7.0% compared to HKD 361.001 million in the same period of 2023[11]. - Gross profit for the same period was HKD 19.326 million, down 43.6% from HKD 34.249 million year-on-year[24]. - The company reported a loss attributable to owners of HKD 2.920 million, a significant decline of 138.6% compared to a profit of HKD 7.563 million in the previous year[24]. - Total revenue for the six months ended September 30, 2024, was HKD 335,631,000, a decrease of 7.0% from HKD 361,001,000 in the same period of 2023[48]. - Gross profit for the same period was HKD 19,326,000, down 43.5% from HKD 34,249,000 year-on-year[48]. - The company reported a net loss of HKD 2,920,000 for the period, compared to a profit of HKD 7,563,000 in the same period last year[48]. - Basic and diluted loss per share was HKD (0.24), compared to earnings of HKD 0.63 per share in the previous year[48]. - The company reported a loss attributable to shareholders of approximately 2,920,000 HKD for the six months ended September 30, 2024, compared to a profit of 7,563,000 HKD for the same period in 2023[88]. Cash and Liquidity - Cash and cash equivalents decreased by 30.1% to HKD 61.684 million from HKD 88.217 million as of March 31, 2024[12]. - The net cash used in operating activities was HKD 15,758,000, compared to HKD 6,786,000 in the previous year, indicating a significant increase in cash outflow[30]. - Cash and cash equivalents decreased to HKD 61,684,000 from HKD 58,740,000 year-on-year, reflecting a net decrease of HKD 16,503,000[30]. - As of September 30, 2024, the group's bank balance and cash total approximately HKD 61.7 million, down from HKD 88.2 million as of March 31, 2024[137]. - The group continues to manage cash reserves prudently and maintain a strong liquidity position[139]. Assets and Liabilities - Total assets decreased slightly to HKD 314.330 million from HKD 317.745 million[27]. - The company's total assets as of September 30, 2024, were approximately HKD 458.2 million, down from about HKD 480.0 million as of March 31, 2024[115]. - The company's total liabilities decreased to approximately HKD 144.5 million as of September 30, 2024, from about HKD 163.4 million as of March 31, 2024[115]. - The company had a total equity of HKD 314,420,000 as of September 30, 2024, compared to HKD 316,627,000 at the end of the previous fiscal year[51]. Operational Costs - The company plans to focus on cost reduction strategies in response to the declining gross profit margin, which fell to 5.8% from 9.5% year-on-year[11]. - Administrative and other operating expenses increased to HKD 29,308,000 from HKD 28,339,000, indicating a rise in operational costs[48]. - Total employee benefits expenses increased to HKD 43,562,000 from HKD 38,710,000, representing a rise of 12.0%[62]. - The total employee cost for the six months ended September 30, 2024, is approximately HKD 19.7 million, an increase from HKD 18.8 million for the same period in 2023[147]. Contracts and Revenue Sources - Major customers contributed the following revenues: Customer A: HKD 89,048,000, Customer B: HKD 80,992,000, Customer C: HKD 67,629,000, Customer D: HKD 41,012,000[60]. - The total contract backlog value as of September 30, 2024, was approximately HKD 763.3 million, a decrease of about HKD 250.8 million or 24.7% from approximately HKD 1,014.1 million as of March 31, 2024[125]. - The company secured two new contracts with a total contract value of approximately 70.5 million HKD, all of which commenced within the six months ended September 30, 2024[105]. Corporate Governance - The company has established an audit committee, chaired by an independent non-executive director, ensuring compliance with corporate governance codes[190]. - The company has adhered to the corporate governance code provisions during the six-month period ending September 30, 2024[188]. - The audit committee consists of at least three members, including an independent non-executive director with appropriate professional qualifications or accounting-related financial management expertise[191]. Market Conditions and Strategic Focus - The global market remains uncertain due to high interest rates and anticipated economic growth slowdown[174]. - The construction industry continues to face challenges such as labor shortages, soaring inflation, and interest costs, despite the gradual recovery of the economic environment in China and Hong Kong[194]. - The company has maintained a strategy to optimize its asset-liability levels and keep financial costs at a minimum while providing high-quality and flexible template solutions[195]. - The company focuses on expanding its template design and construction capabilities to create more business and new market opportunities in the long term[195].
御佳控股(03789) - 2025 - 中期财报