Financial Performance - For the six months ended October 31, 2024, the company's revenue was approximately HKD 271.5 million, an increase of 19.9% compared to HKD 226.4 million in the same period of 2023[16]. - The profit for the same period was approximately HKD 2.0 million, a decrease of 11.1% from HKD 1.8 million in 2023[16]. - Basic and diluted earnings per share for the six months ended October 31, 2024, were HKD 1.23, compared to HKD 1.81 in 2023[16]. - The company reported a gross profit of HKD 16.9 million for the six months ended October 31, 2024, up from HKD 12.9 million in the previous year[2]. - Total comprehensive income for the period was HKD 2,018,000, compared to HKD 1,786,000 in the previous year, marking a growth of approximately 13%[25]. - The company reported a profit of HKD 2,130 thousand for the six months ended October 31, 2024, slightly down from HKD 2,195 thousand in the same period of 2023[46]. Revenue Breakdown - Revenue for the six months ended October 31, 2024, reached HKD 271,478,000, a 20% increase from HKD 226,352,000 for the same period in 2023[36]. - Revenue from design, supply, and installation services amounted to HKD 268,460,000, up from HKD 219,487,000, reflecting a significant growth of approximately 22%[36]. - Revenue from maintenance and repair services decreased to HKD 2,999,000 from HKD 6,758,000, indicating a decline of about 56%[36]. - Revenue from external customers in Hong Kong was HKD 237,828,000, an increase of 24% compared to HKD 192,197,000 in the previous year[40]. - Installation services contributed approximately HKD 268.5 million, accounting for 98.8% of total revenue, which is an increase of about 22.3% from HKD 219.5 million in the previous year[72]. - Maintenance services revenue decreased by approximately 55.9% to HKD 3.0 million from HKD 6.8 million in the previous year[71]. Cash Flow and Assets - The net cash used in operating activities was HKD (23.8) million, compared to HKD (135.1) million in the same period of 2023[11]. - The total assets less current liabilities amounted to HKD 294.9 million as of October 31, 2024, compared to HKD 274.4 million as of April 30, 2024[22]. - The company’s cash and cash equivalents decreased to HKD 3.2 million from HKD 16.3 million at the beginning of the period[11]. - The company reported a total of HKD 76,096 thousand in trade receivables (net of impairment) as of October 31, 2024, compared to HKD 78,299 thousand as of April 30, 2024[53]. Equity and Share Capital - The company issued new shares resulting in an increase in share capital from HKD 28,800,000 to HKD 34,560,000[25]. - The total equity as of October 31, 2024, was HKD 294,435,000, up from HKD 273,478,000 as of October 31, 2023, representing an increase of about 8%[25]. - The weighted average number of ordinary shares used for calculating basic earnings per share increased to 172,800 thousand in 2024 from 121,358 thousand in 2023[46]. Expenses and Liabilities - The company’s administrative expenses were HKD (11.6) million, slightly down from HKD (11.7) million in the previous year[2]. - The company incurred interest expenses on lease liabilities of HKD 19 thousand for the six months ended October 31, 2024, down from HKD 37 thousand in the same period of 2023[45]. - The total depreciation of property, plant, and equipment decreased to HKD 204 thousand in 2024 from HKD 465 thousand in 2023[45]. - The current liabilities for trade payables increased to HKD 19,874 thousand as of October 31, 2024, compared to HKD 18,685 thousand as of April 30, 2024[56]. Strategic Plans and Market Presence - The company plans to continue expanding its market presence in Hong Kong and Macau, focusing on fire safety systems and related engineering services[40]. - The company aims to explore suitable business opportunities to expand service capabilities and is committed to undertaking new installation and maintenance projects[61]. - The company will continue to seek strategic and financial partners to further expand and develop its business into other overseas markets[61]. Corporate Governance and Compliance - The company has established a remuneration committee to review its remuneration policies, considering business performance and market practices[103]. - The audit committee, formed on March 27, 2017, is responsible for overseeing the financial reporting process and internal controls[114]. - The company has complied with the corporate governance code as of October 31, 2024[112]. - The interim report will be published on the company's and the stock exchange's websites, containing all information required by the listing rules[115]. Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended October 31, 2024, consistent with the previous year[16]. - The group has not declared any dividends for the six-month period ending October 31, 2024[100]. - As of October 31, 2024, Mr. Li Junheng holds 14,390,000 shares, representing approximately 8.33% of the company's equity[105]. Other Financial Information - The company has adopted new accounting standards effective from May 1, 2024, which may impact future financial reporting[34]. - The group has no significant investments as of October 31, 2024[93]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six-month period ending October 31, 2024[92].
鸿盛昌资源(01850) - 2025 - 中期业绩