Financial Performance - The group's revenue for the six months ended December 31, 2024, was HKD 21,222,000, representing a 111% increase compared to HKD 10,046,000 in the same period of 2023[3] - Gross profit for the same period was HKD 6,231,000, up 91% from HKD 3,257,000 year-on-year[3] - The group reported a profit attributable to owners of the company of HKD 228,000, a decrease of 89% from HKD 2,054,000 in the previous year[3] - The basic and diluted earnings per share decreased to HKD 0.19 from HKD 1.71, reflecting a significant decline[3] - The profit before tax for the six months ended December 31, 2024, was HKD 228,000, a decrease of approximately 88.9% from HKD 2,054,000 in the same period of 2023[29] - Basic earnings per share for the six months ended December 31, 2024, were HKD 0.19, down from HKD 1.71 in 2023, indicating a decline of approximately 88.9%[29] - For the six months ended December 31, 2024, the company recorded a net profit of approximately HKD 0.2 million, a significant decrease from HKD 2.1 million in the same period of 2023[43] Revenue and Income - The group's contract revenue for the six months ended December 31, 2024, was HKD 21,222,000, a significant increase from HKD 10,046,000 in the same period of 2023, representing a growth of approximately 111.6%[17] - Other income for the six months ended December 31, 2024, was HKD 176,000, compared to HKD 148,000 in 2023, reflecting a growth of about 18.9%[20] Assets and Liabilities - Trade receivables and retention money for contract projects increased to HKD 12,182,000 from HKD 7,000,000, indicating a growth of 74%[4] - Total assets less current liabilities amounted to HKD 40,520,000, slightly up from HKD 40,292,000 as of June 30, 2024[5] - Cash and cash equivalents at the end of the period were HKD 29,929,000, compared to HKD 28,276,000 at the beginning of the period, showing an increase of 5.8%[7] - The accounts receivable and retention money for construction projects as of December 31, 2024, totaled HKD 15,989,000, an increase from HKD 13,052,000 as of June 30, 2024[31] - The expected credit loss provision decreased from HKD 6,052,000 as of June 30, 2024, to HKD 3,807,000 as of December 31, 2024, indicating improved credit quality[31] Expenses - Administrative expenses rose to approximately HKD 6.2 million from HKD 5.2 million, primarily due to an increase in other professional fees by about HKD 1.0 million[46] - Employee benefit expenses for the six months ended December 31, 2024, were approximately HKD 3.4 million, down from HKD 5.1 million for the same period in 2023[60] Dividends and Tax - The group did not recommend any dividend for the six months ended December 31, 2024, consistent with the previous year[26] - The group has not recognized any Hong Kong profits tax for the six months ended December 31, 2024, due to sufficient tax losses carried forward from previous periods[23] Business Environment and Strategy - The company anticipates a challenging business environment with increased operational risks due to the recent downturn in the Hong Kong property market[48] - The board remains optimistic about long-term opportunities in the construction and renovation market, focusing on expanding market share and pursuing prudent financial principles[49] Capital Structure and Financial Position - The group’s total equity increased to HKD 40,520,000 from HKD 40,292,000, reflecting a positive change in financial position[5] - The debt-to-equity ratio was approximately 0% as of December 31, 2024, compared to 0.3% as of June 30, 2024[51] - The capital structure of the group has not undergone significant changes since June 30, 2024[55] Employment and Operations - The group employed a total of 26 employees as of December 31, 2024, unchanged from June 30, 2024[60] - The group operates solely in Hong Kong, with all assets and liabilities located there, resulting in no geographical segment reporting[19] Audit and Compliance - The audit committee consists of three independent non-executive directors, ensuring compliance with GEM listing rules, and is responsible for reviewing financial information and internal control procedures[72] - The unaudited condensed consolidated interim financial statements for the six months ended December 31, 2024, have been reviewed by the audit committee and are prepared in accordance with applicable accounting standards and GEM listing rules[73]
WT集团(08422) - 2025 - 中期财报