仁德资源(新)(08125) - 2025 - 中期财报

Revenue and Profitability - Revenue for the six months ended September 30, 2024, was HK$30,084,000, representing an increase of 2.6$29,321,000 for the same period in 2023[4]. - The gross profit for the six months ended September 30, 2024, decreased by approximately HK$2.5 million compared to the last corresponding period, primarily due to decreased gross profit from leasing of construction equipment and rising labor costs[112]. - For the six months ended 30 September 2024, the Group recorded a gross profit of approximately HK$3.2 million, a decrease of approximately HK$2.5 million compared to HK$5.7 million for the same period in 2023[131]. - Revenue from design, fitting out, and engineering services increased by approximately HK$3.9 million, while leasing of construction equipment revenue decreased by approximately HK$1.6 million, and wine merchandising revenue decreased by approximately HK$1.5 million[107]. Expenses and Costs - Gross profit decreased to HK$3,162,000, down 44.1% from HK$5,748,000 in the previous year[4]. - Administrative expenses were reduced to HK$4,878,000, a decrease of 60.7% from HK$12,390,000 in the prior period[4]. - The Group recorded a loss for the period of approximately HK$5.5 million, compared to a loss of HK$6.2 million for the same period in 2023, indicating a decrease in loss[139]. - Total remuneration for the six months ended September 30, 2024, was approximately HK$2.1 million, a decrease from HK$4.9 million for the same period in 2023[197]. Financial Position - Total equity as of September 30, 2024, was HK$75,376,000, up from HK$73,501,000 in 2023, reflecting a growth of 2.5$90,712,000[45]. - The current ratio as of September 30, 2024, was approximately 3.5 times, compared to 4.7 times as of March 31, 2024[171]. - The total equity attributable to owners of the Company was approximately HK$75,400,000 as of September 30, 2024, up from HK$73,500,000 as of March 31, 2024[172]. Receivables and Credit Risk - Trade receivables from third parties totaled HK$22,974,000, with a loss allowance of HK$1,105,000, leading to net trade receivables of HK$21,869,000[66]. - The loss allowance for trade receivables at the end of the period was HK$1,105,000, down from HK$6,643,000 at the beginning of the period, reflecting a reduction in expected credit losses[83]. - An additional expected credit loss of HK$3.3 million was recognized on long-aged trade receivables due to liquidity issues and payment delays in the construction industry[113]. - The Group's allowance for expected credit losses remained unchanged at HK$1,168,000 as of September 30, 2024[63]. Cash Flow and Liquidity - The company had cash and bank balances of HK$45,690,000 as of September 30, 2024[21]. - The Group's cash and bank balances were approximately HKD 24,100,000 as of September 30, 2024, down from HKD 45,700,000 as of March 31, 2024[171]. - As of September 30, 2024, total trade and other payables amounted to HK$24.2 million, compared to HK$13.8 million as of March 31, 2024[95]. Business Strategy and Operations - The Group is focusing on maintaining business relationships with existing customers to secure recurring orders and is coordinating with them to introduce new customers[116]. - The Group plans to reduce the scale of public housing maintenance and renovation projects and is reallocating resources to seek other projects to sustain its design, fitting out, and engineering services business[117]. - The Group is reformulating the mix of its design, fitting out, and engineering services business to sustain operations amid reduced public housing maintenance and improvement works[154]. - The Group continues to adopt a prudent management approach in its securities business due to economic uncertainties and local stock market volatility[143]. Share Capital and Financing - The Group issued 37,627,200 ordinary shares at a subscription price of HK$0.201 in April 2024, increasing the issued share capital to HK$225,763,000 as of September 30, 2024[75]. - The Group's borrowings comprised lease liabilities of approximately HK$1.0 million as of September 30, 2024, down from HK$1.9 million as of March 31, 2024[195]. - The gearing ratio was approximately 1.3% as of September 30, 2024, compared to 2.6% as of March 31, 2024[195]. Employee and Training - The Group employed 15 employees as of September 30, 2024, a decrease from 25 employees as of September 30, 2023[173]. - The Group continues to provide adequate and regular training to enhance workforce capabilities[173].