Financial Performance - Total revenue for the six months ended September 30, 2024, was HK$80,713,000, an increase of 2.3% compared to HK$78,859,000 for the same period in 2023[27]. - Gross profit for the period was HK$23,700,000, up from HK$21,019,000, reflecting a gross profit margin improvement[27]. - Profit for the period reached HK$4,644,000, with earnings per share at HK$0.54[27]. - The company reported a gross profit increase of approximately 12.8% year-over-year[27]. - The Group recorded a profit attributable to owners of approximately HK$4.6 million for 1H2025, representing a profit margin of approximately 5.8%, an increase from approximately 5.2% in 1H2024[69]. - Total comprehensive income for 1H2025 was approximately HK$4.9 million, compared to approximately HK$3.2 million in 1H2024, reflecting a significant increase[69]. - Gross profit increased by approximately 12.8% from approximately HK$21.0 million in 1H2024 to approximately HK$23.7 million in 1H2025, with a gross profit margin of approximately 29.4%[78]. - The Group's total revenue for the six months ended September 30, 2023, was HK$78,859,000, with segment results of HK$15,485,000 from leasing and HK$2,038,000 from trading[130]. - Total external revenue for the six months ended September 30, 2024, was HK$80,713,000, an increase of 2.2% from HK$78,859,000 in the same period of 2023[141]. Assets and Liabilities - Non-current liabilities decreased slightly to HK$21,991,000 as of September 30, 2024, compared to HK$22,112,000 as of March 31, 2024[5]. - Net assets stood at HK$228,069,000 as of September 30, 2024, a slight decrease from HK$228,306,000 as of March 31, 2024[5]. - As of September 30, 2024, total assets amounted to HK$250,060,000, slightly down from HK$250,418,000 as of March 31, 2024[31]. - Current assets totaled HK$167,219,000, an increase from HK$165,299,000 in the previous period[31]. - Total liabilities were HK$94,695,000, compared to HK$89,008,000 previously[31]. - The Group's cash balances and cash equivalents as of 30 September 2024 were approximately HK$91.1 million, down from approximately HK$93.7 million as of 31 March 2024[91]. - As of 30 September 2024, the Group had borrowings and lease liabilities of approximately HK$51.2 million, an increase from approximately HK$42.7 million as of 31 March 2024[91]. - The Group's banking facilities as of 30 September 2024 were approximately HK$80.4 million, with approximately HK$69.9 million drawn down[92]. Income and Expenses - Administrative expenses for the period were HK$20,231,000, compared to HK$19,911,000 in the previous year[27]. - Capital expenditures in 1H2025 totaled approximately HK$27.6 million, primarily for leasing machinery, vehicles, and office equipment, with 91.1% allocated to expanding the rental fleet[70]. - Finance costs rose to approximately HK$0.9 million in 1H2025, compared to approximately HK$0.8 million in 1H2024, due to increased borrowings[68]. - The Group's expected credit loss provision increased to approximately HK$0.9 million in 1H2025, compared to a reversal of approximately HK$2.0 million in 1H2024[63]. - The Group shared a loss of approximately HK$14.0 thousand from the joint venture WAJV in 1H2025, a decrease from approximately HK$0.8 million in 1H2024[67]. - The Group's total profit for the period was achieved after charging directors' emoluments of HK$4,676,000, up from HK$3,940,000 in the previous year, an increase of 18.7%[169]. - The company reported a decrease in auditor's remuneration to HK$881,000 for the first half of 2024, down from HK$986,000 in 2023, a decline of 10.7%[169]. Revenue Breakdown - The geographical revenue breakdown shows Hong Kong generated HK$67,912,000, while Macau contributed HK$45,000, and Singapore accounted for HK$13,000[111]. - Revenue from Hong Kong decreased to HK$71,479,000, down 1.2% from HK$72,381,000 in 2023[141]. - Revenue from Singapore increased significantly to HK$6,579,000, up 52.5% from HK$4,318,000 in 2023[141]. - The Group's leasing segment reported a profit of HK$20,809,000, while the trading segment incurred a loss of HK$598,000, resulting in a total segment profit of HK$20,211,000[124]. - The Group's leasing income from equipment for the six months ended September 30, 2024, was HK$77,087,000, compared to HK$67,781,000 for the same period in 2023, reflecting a growth of approximately 13.5%[124][130]. Shareholder Information - Major shareholders include New Club House 1 with 42.08% and Great Club House with 32.92% of shares[39]. - The company declared an interim dividend of HK$0.16 per share for the reporting period, totaling HK$1,382,400, compared to no interim dividend in the first half of 2024[172]. - The weighted average number of ordinary shares remained constant at 864,000,000 for both periods, indicating stable share structure[169]. Governance and Risk Management - The company aims to enhance corporate governance and risk management practices, with a new appointment to the risk management committee on October 19, 2024[50][52]. Credit and Receivables - The average credit period for leasing and trading customers is between 0 to 90 days, with credit limits reviewed annually[188]. - As of September 30, 2024, the total lease and trade receivables, net of credit loss allowance, amounted to HK$39,504,000, an increase from HK$38,386,000 as of March 31, 2024[190]. - Lease receivables from outsiders increased to HK$53,193,000 as of 30 September 2024, up from HK$50,891,000 as of 31 March 2024, marking a rise of 4.3%[184]. - The allowance for expected credit losses on lease receivables increased to HK$15,889,000 as of 30 September 2024, compared to HK$15,036,000 as of 31 March 2024, indicating a rise of 5.7%[184]. Cash Flow - Net cash from operating activities for the six months ended September 30, 2024, was HK$19,484,000, a decrease of 16.4% from HK$23,278,000 in the same period of 2023[98]. - Net cash used in investing activities amounted to HK$23,424,000, compared to HK$9,154,000 in the previous year, indicating a significant increase in investment outflows[98]. - The net increase in cash and cash equivalents was HK$1,545,000, compared to a net increase of HK$4,759,000 in the prior year[98]. - Interest received increased to HK$1,748,000 from HK$1,106,000, reflecting a growth of 58%[98]. - New borrowings raised during the period totaled HK$17,798,000, while repayments of borrowings were HK$7,849,000[98]. - The effect of foreign exchange rate changes resulted in a positive impact of HK$93,661,000 on cash and cash equivalents[98].
亚积邦租赁(01496) - 2025 - 中期财报