Financial Performance - The company reported a profit attributable to owners of approximately HKD 4.7 million for the six months ended September 30, 2024, compared to HKD 4.3 million for the same period in 2023, representing an increase of about 9.3%[4]. - Total revenue for the group was approximately HKD 118.0 million, reflecting an increase of approximately 0.9% compared to HKD 117.0 million in the same period last year[10]. - Basic earnings per share were approximately HKD 5.85, up from HKD 5.34 in the previous year, indicating a growth of about 9.5%[11]. - The operating profit for the period was HKD 6.5 million, an increase from HKD 5.6 million in the previous year, representing a growth of approximately 15.4%[12]. - The company achieved a pre-tax profit of HKD 4,683,000 for the six months ended September 30, 2024, compared to HKD 4,275,000 in the same period of 2023, indicating a growth of about 9.5%[44]. - The net profit attributable to the owners of the company increased from approximately HKD 4.3 million to about HKD 4.7 million, primarily due to an increase in gross profit[62]. Revenue Breakdown - Revenue from renovation projects decreased to HKD 29,514,000 in 2024 from HKD 49,339,000 in 2023, a decline of about 40.2%[25]. - Revenue from decoration projects increased significantly to HKD 88,528,000 in 2024, up from HKD 67,690,000 in 2023, marking an increase of approximately 30.7%[25]. - The total segment profit for decoration projects was HKD 18,587,000, while for renovation projects it was HKD 859,000, leading to a total segment profit of HKD 19,446,000[31]. - The company's gross profit increased from approximately HKD 18.2 million to about HKD 19.4 million, representing an increase of approximately 6.6%[66]. - The company's overall revenue increased from approximately HKD 117.0 million to about HKD 118.0 million, representing a growth of approximately 0.9%[59]. Cash and Assets - The net cash and cash equivalents at the end of the period were HKD 9.3 million, a decrease from HKD 9.8 million at the end of the previous year[20]. - The total assets less current liabilities amounted to HKD 50.6 million, compared to HKD 46.4 million as of March 31, 2024, indicating an increase of approximately 8.0%[14]. - Non-current assets, including property, plant, and equipment, increased to HKD 2.2 million from HKD 1.7 million, reflecting a growth of about 29.4%[14]. - The company has cash and bank balances of approximately HKD 9.3 million as of September 30, 2024, down from approximately HKD 14.7 million as of March 31, 2024[71]. Expenses and Costs - The company's administrative expenses increased by approximately 8.9%, from about HKD 12.3 million to approximately HKD 13.4 million, mainly due to increased employee costs[67]. - Financing costs increased to HKD 1,790,000 in 2024 from HKD 1,332,000 in 2023, representing a rise of about 34.4%[42]. Dividends and Tax - The company did not recommend any dividend payment for the period[5]. - The company did not declare any dividends for the period, consistent with the previous year[47]. - The company has sufficient tax losses to offset taxable profits, resulting in no provision for Hong Kong profits tax for both periods[46]. Contracts and Commitments - The company has unrecognized contract revenue of approximately HKD 287.2 million as of September 30, 2024, mainly from major listed property developers in Hong Kong and large developers from China[63]. - The company submitted tenders amounting to approximately HKD 824.8 million during the period, compared to HKD 925.3 million in the same period last year[57]. - As of September 30, 2024, the group has no significant capital commitments[75]. - The group has no major investments as of September 30, 2024[77]. Corporate Governance - The company has established a remuneration committee to review the compensation policies for directors and senior management[83]. - The audit and risk management committee is responsible for ensuring the accuracy and fairness of the company's financial statements and has been provided with sufficient resources to fulfill its duties[114]. - The company has complied with the corporate governance code, except for the deviation regarding the roles of the chairman and CEO being held by the same individual[130]. - No significant changes in director information have been reported during the period[89]. Stock Options - A total of 8,000,000 share options are available for issuance, representing 10% of the issued shares as of the report date[102]. - The stock option plan will remain effective for a period of 10 years from the adoption date, which is September 30, 2019, until September 29, 2029[106]. - A total of 8,000,000 stock options were granted on August 15, 2022, with an exercise price of HKD 0.447 per share, and the closing price on the grant date was HKD 0.41[122]. - The fair value of the stock options granted to executive directors on August 15, 2022, was HKD 191,789 each, while the total fair value for other employees was HKD 975,382[122]. - As of April 1, 2024, there are 8,000,000 stock options that remain unexercised from the total granted[124]. - There are no specified minimum holding periods for stock options before they can be exercised, unless otherwise determined by the board[107]. Employment and Risks - The group employed 41 employees as of September 30, 2024, with a compensation policy based on experience and qualifications[80]. - There are no significant foreign exchange risks as of September 30, 2024, with transactions primarily in HKD and USD[79]. - The group has not acquired or sold any subsidiaries during the reporting period[78]. - No significant events have occurred after the reporting period that would impact the company's operations[128]. - The company has not purchased, sold, or redeemed any of its listed securities during the period[112].
艾硕控股(08341) - 2025 - 中期财报