Financial Performance - The company's revenue for the six months ended December 31, 2024, was HKD 21,222,000, representing a 111.6% increase compared to HKD 10,046,000 for the same period in 2023[5] - Gross profit for the same period was HKD 6,231,000, up from HKD 3,257,000, indicating a gross margin improvement[5] - The company'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%[19] - Other income for the six months ended December 31, 2024, was HKD 176,000, compared to HKD 148,000 in 2023, reflecting an increase of about 18.9%[22] - The company's pre-tax profit for the six months ended December 31, 2024, was impacted by construction costs of HKD 1,741,000, down from HKD 6,789,000 in 2023, indicating a reduction of approximately 74.3%[23] - For the six months ended December 31, 2024, the company reported a net profit of approximately HKD 0.2 million, a decrease from HKD 2.1 million in the same period of 2023[45] - Total revenue for the six months ended December 31, 2024, was approximately HKD 21.2 million, compared to HKD 10.0 million for the same period in 2023, indicating a significant increase[46] - Gross profit for the same period increased to approximately HKD 6.2 million from HKD 3.3 million, reflecting an increase of about HKD 2.9 million[47] Earnings and Dividends - The company's basic and diluted earnings per share for the period were HKD 0.19, down from HKD 1.71 in the previous year[5] - The company did not recommend any dividend payment for the six months ended December 31, 2024, consistent with the previous year[28] - Basic earnings per share for the six months ended December 31, 2024, were HKD 0.19, a decrease from HKD 1.71 in the same period of 2023[31] - The profit attributable to owners for the six months ending December 31, 2024, is approximately HKD 2.1 million, compared to HKD 0.2 million for the same period in 2023[49] Cash Flow and Assets - The net cash generated from operating activities was HKD 1,742,000, a decrease from HKD 2,212,000 in the previous year[9] - The cash and cash equivalents at the end of the period increased to HKD 29,929,000 from HKD 28,276,000 at the beginning of the period[9] - The company had cash and cash equivalents of HKD 29.929 million as of December 31, 2024, compared to HKD 28.276 million as of June 30, 2024[38] - The total assets less current liabilities as of December 31, 2024, were HKD 40,520,000, compared to HKD 40,292,000 as of June 30, 2024[7] - The company's total equity as of December 31, 2024, was HKD 40,520,000, up from HKD 40,292,000 as of June 30, 2024[7] - The group maintains a strong financial position with cash and bank balances of approximately HKD 29.9 million as of December 31, 2024, up from HKD 28.3 million as of June 30, 2024[52] Liabilities and Financial Ratios - The current ratio as of December 31, 2024, is approximately 8.6 times, an increase from 7.8 times as of June 30, 2024[52] - The debt-to-equity ratio is approximately zero as of December 31, 2024, down from 0.3% as of June 30, 2024[53] - Trade receivables and retention money for construction projects increased to HKD 12,182,000 from HKD 7,000,000[6] - Trade receivables as of December 31, 2024, were HKD 2.982 million, down from HKD 13.052 million as of June 30, 2024[33] - The average credit period for trade payables is generally 30 days, with trade payables amounting to HKD 496,000 as of December 31, 2024[39] Expenses - Employee benefit expenses for the six months ended December 31, 2024, totaled HKD 3,420,000, a decrease from HKD 5,074,000 in 2023, representing a decline of about 32.6%[24] - Administrative expenses rose to approximately HKD 6.2 million for the six months ended December 31, 2024, up from HKD 5.2 million in the prior year, primarily due to an increase in other professional fees[48] - Employee benefit expenses for the six months ending December 31, 2024, are approximately HKD 3.4 million, compared to HKD 5.1 million for the same period in 2023[62] Taxation - The company did not incur any income tax expense for the current period, compared to an expense of HKD 51,000 in the previous year[5] - The company did not recognize any Hong Kong profits tax for the six months ended December 31, 2024, due to sufficient tax losses carried forward from previous periods[25] Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated interim financial statements for the six months ended December 31, 2024, ensuring compliance with applicable accounting standards and GEM listing rules[75] - The company has complied with the GEM listing rules regarding the audit committee's composition, including at least one member with appropriate professional qualifications or accounting expertise[75] - The board believes that the current structure, with experienced individuals including three independent non-executive directors, ensures a balance of power and authority[68] Market Strategy and Operations - The group plans to expand its market share and focus on foundation and site preparation projects, superstructure construction projects, and renovation projects[51] - The group will continue to monitor the Hong Kong property market and adjust strategies as necessary[51] - The company operates primarily in Hong Kong, with all assets and liabilities located in the same region, indicating no geographical segment reporting[21] - The company has not reported any independent operating segment financial information as all business activities are integrated[20] Accounting Standards - The company has adopted new accounting standards effective from July 1, 2024, but these changes did not have a significant impact on the financial position and performance[14] - The company has assessed the impact of new accounting standards that have been issued but not yet effective, and is currently evaluating their potential effects on performance and financial position[14] Other Information - The group has no capital commitments as of December 31, 2024[59] - The group has no significant investments, acquisitions, or disposals of subsidiaries or associates during the reporting period[60] - The group has no significant foreign exchange risk as most transactions are conducted in HKD[56] - The company has adopted a share option scheme effective from December 1, 2017, which is valid for 10 years, with no options granted, exercised, cancelled, or lapsed as of December 31, 2024[73]
WT集团(08422) - 2025 - 中期业绩