Revenue and Profitability - 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[9]. - 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%[18]. - Revenue from foundation works increased from approximately HK$0.0 million for the six months ended 31 October 2023 to approximately HK$0.29 million for the six months ended 31 October 2024[19]. - The Group's overall revenue increase of approximately HK$24.98 million was primarily due to the rise in slope works projects[17]. - Total revenue for the six months ended October 31, 2024, was HK$161,439,000, up from HK$136,455,000 in 2023, marking an increase of approximately 18%[124]. - Gross profit increased by approximately HK$1.09 million from approximately HK$2.42 million to approximately HK$3.51 million, with gross profit margin rising from approximately 1.8% to approximately 2.2%[23]. - Gross profit for the same period was HK$3,512,000, up 44.9% from HK$2,424,000 in 2023[90]. - The total comprehensive loss for the period was HK$46,000, compared to a loss of HK$1,487,000 in the same period last year[90]. - The loss attributable to owners of the Company for the Reporting Period was approximately HK$0.046 million, a significant improvement from a loss of HK$1.49 million in 2023[9]. - For the six months ended 31 October 2024, the company reported a loss attributable to owners of HK$46,000, compared to a loss of HK$1,487,000 for the same period in 2023[146]. Costs and Expenses - Direct costs increased by approximately HK$23.9 million or approximately 17.83% from approximately HK$134.03 million to approximately HK$157.93 million, mainly due to the increase in the number of slope works projects[25]. - Administrative expenses decreased by approximately HK$0.59 million or approximately 14.82% from approximately HK$3.98 million to approximately HK$3.39 million[27]. - Total employee costs for the period amounted to HKD 1.88 million, determined based on market levels and individual performance[56]. - Total staff costs decreased to HK$1,881,000 from HK$2,068,000, a reduction of approximately 9%[138]. - Finance costs increased to HK$775,000 in 2024 from HK$492,000 in 2023, indicating a rise of approximately 57%[135]. - Subcontracting charges included in direct costs rose to HK$157,927,000 from HK$134,031,000, an increase of approximately 18%[138]. Cash Flow and Financial Position - As of 31 October 2024, the Group's cash at banks and in hand amounted to approximately HK$37.64 million, an increase of approximately HK$3.81 million compared to HK$33.83 million as of 30 April 2024[36]. - Cash and cash equivalents increased to HK$37,637,000 as of 31 October 2024, up from HK$33,834,000 as of 30 April 2024[93]. - Net cash generated from operating activities was HK$1,278,000, a decrease from HK$1,467,000 in the same period of 2023[116]. - The Group had net current liabilities of approximately HK$23,156,000 and net liabilities of approximately HK$22,689,000 as at 31 October 2024[116]. - Cash and cash equivalents at the end of the reporting period increased to HK$37,637,000 from HK$31,270,000[116]. - The Group implemented measures to improve working capital, liquidity, and cash flow position[116]. - The Group's cash and cash equivalents at the beginning of the reporting period were HK$33,834,000[116]. - New borrowings raised amounted to HK$1,125,000, down from HK$2,857,000 in the previous year[116]. - The company’s borrowings are classified as current liabilities, with all borrowings repayable within one year or on demand[161]. Market Outlook and Industry Conditions - The Group anticipates that the Hong Kong construction market will remain challenging due to rising subcontracting costs and intense competition, which may pressure profit margins[16]. - The Directors remain cautiously optimistic about the slope works industry in Hong Kong, driven by the government's ongoing infrastructure projects[13]. - The operating environment remains challenging due to increasing operational costs, particularly higher subcontracting rates[12]. Corporate Governance and Compliance - The company complied with the Corporate Governance Code, except for the absence of a chairman to hold meetings with independent non-executive directors[72]. - All directors confirmed compliance with the required standards of conduct regarding securities transactions during the period[78]. - The Audit Committee reviewed the unaudited financial results and confirmed compliance with applicable accounting standards and GEM Listing Rules[86]. - The company did not purchase, sell, or redeem any of its listed securities during the period[70]. - The company did not recommend any payment of dividends for the six months ended October 31, 2024, consistent with the previous year[79]. Shareholder Information - As of October 31, 2024, Emperor Securities Limited held 792 million shares, representing approximately 50.21% of the company's shareholding[66]. - The issued and fully paid ordinary shares remained unchanged at 1,577,200, with a carrying amount of HK$15,772,000 as of both October 31, 2024, and April 30, 2024[166]. - The company has not reported any significant events occurring after the reporting period, indicating stability in operations[173].
浙江联合投资(08366) - 2025 - 中期财报