Financial Performance - For the six months ended October 31, 2024, the Group reported a loss attributable to owners of the Company of HK$1,487,000 compared to a loss of HK$46,000 for the same period in 2023[10]. - Revenue for the six months ended 31 October 2024 amounted to approximately HK$161.44 million, representing an increase of approximately 18.31% compared to HK$136.46 million for the same period in 2023[32]. - Loss attributable to owners of the Company for the Reporting Period was approximately HK$0.046 million, a significant decrease from HK$1.49 million in 2023[32]. - Basic loss per share for the Reporting Period was approximately HK0.003 cents, down from HK0.09 cents in 2023[32]. - The Group experienced an increase in gross profit margin despite a decrease in net loss for the six months ended 31 October 2024 compared to the same period in 2023[34]. - The Group's gross profit increased by approximately HK$1.09 million from approximately HK$2.42 million for the six months ended 31 October 2023 to approximately HK$3.51 million for the six months ended 31 October 2024[60]. - The Group's gross profit margin increased from approximately 1.8% for the six months ended 31 October 2023 to approximately 2.2% for the six months ended 31 October 2024[60]. - Total comprehensive expense for the period was a loss of HK$46,000, significantly reduced from HK$1,487,000 in the previous year[100]. - Profit before taxation was HK$353,000, a turnaround from a loss of HK$1,487,000 in the previous year[100]. Revenue and Costs - Direct costs increased by approximately HK$23.9 million or approximately 17.83%, from approximately HK$134.03 million in 2023 to approximately HK$157.93 million in 2024, mainly due to an increase in the number of slope works projects[38]. - The increase in revenue was primarily attributable to the increase in the number of slope works projects[60]. - Revenue from slope works increased from approximately HK$136.46 million for the six months ended 31 October 2023 to approximately HK$161.15 million for the six months ended 31 October 2024, representing an increase of approximately 18.09%[60]. - Revenue from foundation works was HK$291,000 for the six months ended 31 October 2024, with no revenue reported for the same period in 2023[114]. - Subcontracting charges increased to HK$157,927,000 from HK$134,031,000, an increase of 17.8%[168]. Borrowings and Financial Position - The Group borrowed a principal amount of approximately HK$12,918,000 under a loan facility with a maximum limit of HK$36,000,000, with an annual interest rate of 12%[13]. - The total borrowings as of 31 October 2024 were HK$13,693,000, up from HK$12,568,000 as of 30 April 2024, reflecting an increase of 9%[78]. - The borrowings bear an interest rate of 12% per annum and are repayable on 31 October 2025[80]. - The Group's cash at banks and in hand was approximately HK$37.64 million as of 31 October 2024, representing an increase of approximately HK$3.81 million from HK$33.83 million as of 30 April 2024[81]. - The gearing ratio of the Group was approximately negative 231.32% as of 31 October 2024, compared to negative approximately 220.67% as of 30 April 2024[81]. - The Group had net current liabilities of approximately HK$23,156,000 and net liabilities of approximately HK$22,689,000 as of 31 October 2024[111]. Administrative and Other Expenses - The Group's administrative expenses decreased by approximately HK$0.59 million or approximately 14.82% from approximately HK$3.98 million for the six months ended 31 October 2023 to approximately HK$3.39 million for the six months ended 31 October 2024[60]. - Finance costs increased from HK$0.49 million in 2023 to approximately HK$0.78 million in 2024 due to a loan provided by a financial institution[60]. - Total staff costs for the Group during the Period was HK$1.88 million, determined based on market terms and individual performance[83]. - Other income rose to HK$1,001,000, compared to HK$558,000 in the prior period, indicating enhanced revenue streams[100]. Share Capital and Dividends - The number of ordinary shares remained constant at 1,577,200, with a carrying amount of HK$15,772,000 as of October 31, 2024[15]. - The total authorized ordinary shares remained at 2,000,000, with a carrying amount of HK$20,000[15]. - The Board does not recommend the payment of an interim dividend for the Reporting Period[32]. - The Board did not recommend any payment of dividends for the six months ended 31 October 2024, consistent with the previous year where no dividends were paid[96]. Market Outlook and Industry Conditions - The competitive environment in the Hong Kong construction market remains tough, with rising subcontracting costs and intense competition expected to pressure profit margins[35]. - The Hong Kong Government's ongoing increase in major construction and infrastructure projects is anticipated to boost demand for slope works related to public safety[34]. - The Directors remain cautiously optimistic about the slope works industry in Hong Kong, despite the challenging operating environment[33]. - Future outlook remains positive with ongoing efforts in product development and market expansion strategies[108]. Compliance and Governance - The Group's financial statements are unaudited for the period ending October 31, 2024[10]. - The Audit Committee reviewed the unaudited condensed consolidated results and confirmed compliance with applicable accounting standards and GEM Listing Rules[97]. - The Group has adopted a code of conduct regarding securities transactions by Directors, ensuring compliance with GEM Listing Rules[96]. - The Group has complied with the Corporate Governance Code provisions, with a noted deviation regarding the appointment of a chairman[93].
浙江联合投资(08366) - 2025 - 中期业绩