Revenue Performance - Total revenue for the six months ended October 31, 2024, was HKD 46,797,000, a slight increase from HKD 46,474,000 in the same period last year, representing a growth of 0.7%[17] - Revenue from construction and related services was HKD 17,290,000, down 24.0% from HKD 22,918,000 in the previous year[15] - Loan interest income increased to HKD 29,507,000, up 25.3% from HKD 23,556,000 year-on-year[16] - For the six months ended October 31, 2024, the company's revenue was approximately HKD 46,800,000, an increase of about 0.7% compared to HKD 46,500,000 in the same period of 2023[64] - The lending business recorded a revenue increase to approximately HKD 29,500,000, up from HKD 23,600,000 in the same period last year[76] Profit and Loss - The company reported a total comprehensive loss of HKD 12,180,000 for the period, compared to a loss of HKD 11,740,000 in the previous year[3] - The company reported a profit attributable to owners of HKD 30,486,000 for the six months ended October 31, 2024, compared to a loss of HKD (11,740,000) in the same period last year[40] - The net profit attributable to the company's owners for the reporting period was approximately HKD 30,500,000, a turnaround from a net loss of approximately HKD 11,700,000 in the same period of 2023[64] - The company incurred a pre-tax loss of HKD 10,699,000, reflecting the challenges faced in the construction segment[25] Cash Flow and Financial Position - The net cash generated from operating activities was HKD 2,904,000, a significant improvement compared to a net cash outflow of HKD 15,452,000 in the previous year[6] - The company’s cash and cash equivalents decreased to HKD 17,409,000 from HKD 17,175,000 year-on-year[6] - As of October 31, 2024, total equity attributable to owners of the company was HKD 415,443,000, an increase from HKD 383,877,000 at the end of the previous period[3] - The company’s total reserves increased to HKD 271,773,000 from HKD 240,207,000, indicating a growth of 13.9%[1] - The company's total assets as of October 31, 2024, were HKD 416,567,000, an increase from HKD 384,680,000 as of April 30, 2024[137] Expenses - Operating and administrative expenses decreased by approximately 26.6% compared to the same period last year, mainly due to reduced employee costs and tightened cost control[89] - The company’s depreciation expense for property, plant, and equipment was HKD 642,000, slightly up from HKD 640,000 in the previous year[43] - The tax expense for the period was HKD 2,215,000, up from HKD 1,041,000 in the previous year, reflecting a higher profit level[34] Credit Quality and Impairment - The net impairment loss recognized under the expected credit loss model for the period was HKD (11,702,000), a decrease from HKD (25,507,000) in the previous year, indicating improved credit quality[37] - The net impairment loss from expected credit losses on loans and interest receivable was approximately HKD 8,500,000, a significant decrease from HKD 38,000,000 in the same period last year[80] Investment Performance - The company recorded a fair value gain on financial assets of HKD 21,400,000 for the six months ended October 31, 2024, compared to HKD 1,330,000 in the previous year, indicating a significant increase in investment performance[31] - The total value of the investment portfolio as of October 31, 2024, was approximately HKD 63,400,000, up from HKD 48,800,000 as of April 30, 2024[83] - The fair value gain on the investment portfolio for the reporting period was approximately HKD 21,400,000, compared to HKD 1,300,000 in the same period last year[83] Operational Highlights - The company has three operating segments: construction services, lending business, and securities investment, with total external revenue of HKD 46,797,000 for the period[19] - The scaffolding services segment generated revenue of approximately HKD 17,300,000, a decrease of about HKD 5,600,000 compared to the same period in 2023, due to a reduction in new contracts obtained[65] - The group provided scaffolding services for 36 ongoing projects, with 26 completed on schedule and secured 3 new contracts during the reporting period[67] Lending Business - As of October 31, 2024, the lending portfolio consisted of loans ranging from approximately HKD 100,000 to HKD 25,000,000, with annual interest rates between 7.0% and 22%[76] - 74% of the outstanding loans and interest receivables as of October 31, 2024, were unsecured, while the remaining loans were secured by shares of listed companies[76] - The maximum loan and interest receivable from the largest borrower amounted to approximately HKD 28,800,000, representing about 6.1% of the total receivables[76] - The group has implemented stricter lending criteria, requiring borrowers to provide asset and income proof to demonstrate repayment capability[76] Corporate Governance - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing the company's financial reports and internal control procedures[118] - The company has complied with the GEM listing rules regarding the code of conduct for directors' securities transactions during the reporting period[113] - There are no significant contracts in which directors have a material interest as of October 31, 2024[107] Future Outlook - The group plans to continue focusing on high-margin and growth potential business segments, such as lending services, while adapting its strategies to market dynamics[88] - The group aims to explore suitable investment opportunities to diversify its business scope and enhance overall development[88]
汇隆控股(08021) - 2025 - 中期业绩