Financial Performance - For the six months ended October 31, 2024, the revenue was approximately HKD 271.5 million, an increase of 19.9% compared to HKD 226.4 million in the same period of 2023[7]. - The profit for the same period was approximately HKD 2.0 million, a decrease of 11.1% from HKD 1.8 million in 2023[7]. - Basic and diluted earnings per share for the six months ended October 31, 2024, were HKD 1.23, down from HKD 1.81 in 2023[7]. - The total comprehensive income for the six months ended October 31, 2024, was HKD 2,130,000, compared to HKD 2,195,000 for the same period in 2023, indicating a slight decrease of 3.0%[12]. - The group reported a net profit of HKD 2,130,000 for the six months ended October 31, 2024, compared to HKD 2,195,000 in 2023, reflecting a slight decrease of 3%[30]. - Profit attributable to the owners of the company decreased from approximately HKD 2.2 million for the six months ended October 31, 2023, to approximately HKD 2.1 million for the same period in 2024[55]. Revenue Breakdown - Revenue for the six months ended October 31, 2024, was HKD 271,478,000, representing a 20% increase from HKD 226,352,000 in 2023[22]. - Revenue from design, supply, and installation services was HKD 268,460,000, up from HKD 219,487,000, indicating a 22% growth[22]. - Revenue from external customers in Hong Kong was HKD 237,828,000, a 24% increase from HKD 192,197,000 in 2023[26]. - Installation services contributed HKD 268.5 million, accounting for 98.8% of total revenue, up from HKD 219.5 million or 96.9% in the previous year, representing a growth of approximately 22.3%[42][43]. - Maintenance services revenue decreased by approximately 55.9% to HKD 3.0 million from HKD 6.8 million in the previous year, primarily due to fewer completed maintenance contracts[44]. Assets and Liabilities - Non-current assets as of October 31, 2024, included property, plant, and equipment valued at HKD 765,000, down from HKD 889,000 as of April 30, 2024[9]. - Current assets included trade receivables of HKD 76.1 million, a decrease from HKD 78.3 million as of April 30, 2024[9]. - Total assets as of October 31, 2024, were HKD 395.7 million, compared to HKD 372.5 million as of April 30, 2024[9]. - Current liabilities included trade payables of HKD 41.2 million, an increase from HKD 36.6 million as of April 30, 2024[10]. - The net asset value as of October 31, 2024, was HKD 294.4 million, up from HKD 273.9 million as of April 30, 2024[10]. - The company reported a total equity of HKD 294.4 million as of October 31, 2024, compared to HKD 273.9 million as of April 30, 2024[10]. Cash Flow and Financing - The net cash used in operating activities for the six months ended October 31, 2024, was HKD (23,808,000), an improvement compared to HKD (135,057,000) for the same period in 2023[14]. - The company raised HKD 19,296,000 from the issuance of shares during the current period, compared to HKD 130,560,000 from rights issue in the previous year[14]. - The net cash generated from financing activities for the six months ended October 31, 2024, was HKD 10,742,000, a decrease from HKD 121,558,000 in the same period of 2023[14]. - The company reported a cash and cash equivalents balance of HKD 3,180,000 as of October 31, 2024, down from HKD 13,968,000 at the end of the previous year[14]. - The company incurred financing costs of HKD (2,023,000) for the six months ended October 31, 2024, compared to HKD (2,011,000) in the same period of 2023[14]. Shareholder Information - The company decided not to declare an interim dividend for the six months ended October 31, 2024, compared to no dividend in 2023[7]. - The group did not declare any interim dividends for the six months ended October 31, 2024, consistent with 2023[31]. - As of October 31, 2024, Mr. Li Junheng holds 14,390,000 shares, representing approximately 8.33% of the company's equity[78]. - The company has issued 172.8 million shares as of October 31, 2024, with a total share capital of HKD 34.56 million[37]. Corporate Governance and Compliance - The company has adhered to the corporate governance code as of October 31, 2024[88]. - The company has established a remuneration committee to review its remuneration policies and the overall compensation structure for directors and senior management, considering business performance and individual contributions[74]. - The company has complied with the standards for securities trading by directors as of October 31, 2024[76]. - The Audit Committee was established on March 27, 2017, consisting of three independent non-executive directors[89]. - The unaudited consolidated results for the six months ending October 31, 2024, have been reviewed by the Audit Committee but not yet audited by the company's auditors[89]. Operational Insights - Selling costs rose by approximately 19.3% to HKD 254.6 million from HKD 213.5 million, mainly due to increased subcontracting costs associated with installation contracts[47]. - Administrative expenses decreased by approximately 0.9% to HKD 11.6 million from HKD 11.7 million, mainly due to reduced legal and professional fees[50]. - The company aims to explore suitable business opportunities to expand service capabilities and is committed to undertaking new installation and maintenance projects[39]. - The company continues to provide training for new and existing employees to enhance their technical knowledge, which is believed to improve productivity and efficiency[74]. Future Outlook - The company continues to apply the new Hong Kong Financial Reporting Standards effective from May 1, 2024, which may impact future financial reporting[20]. - The intended use of the net proceeds includes HKD 3.0 million (16%) for repaying shareholder loans, HKD 11.0 million (59%) for business expansion, and HKD 4.5 million (25%) for general working capital[64].
鸿盛昌资源(01850) - 2025 - 中期财报