Financial Performance - The company recorded revenue of approximately HKD 151.5 million for the six months ended January 31, 2025, representing an increase of about 14.3% compared to HKD 132.6 million for the same period in 2024[7] - The total profit and comprehensive income increased by approximately 64.7% to HKD 14.0 million for the six months ended January 31, 2025, up from HKD 8.5 million for the same period in 2024[7] - Earnings per share for the six months ended January 31, 2025, were approximately HKD 1.40, compared to HKD 0.85 for the same period in 2024[7] - The company's gross profit for the six months ended January 31, 2025, was HKD 37.5 million, compared to HKD 32.4 million for the same period in 2024[9] - Operating profit for the six months ended January 31, 2025, was HKD 16.96 million, an increase from HKD 10.63 million for the same period in 2024[9] - The group's profit for the six months ended January 31, 2025, was HKD 14,001,000, compared to HKD 8,510,000 for the same period in 2024, representing a year-on-year increase of 64.8%[32] - The company's profit attributable to owners increased by approximately 64.7% from about HKD 8.5 million for the six months ended January 31, 2024, to about HKD 14.0 million for the current period[45] - Earnings per share for the current period was approximately HKD 1.40, up about 64.7% from approximately HKD 0.85 for the same period last year[46] - Revenue increased by approximately 14.3% from about HKD 132.6 million to about HKD 151.5 million, driven by increased sales of heavy equipment and parts, as well as rental income[48] - Gross profit rose by approximately 15.7% from about HKD 32.4 million to about HKD 37.5 million, with a gross margin of approximately 24.8% compared to 24.4% in the previous year[50] Dividends - The board declared an interim dividend of HKD 0.015 per share, expected to be paid on April 24, 2025[7] - The company declared a final dividend of HKD 1.5 cents per share for the year ended 2024, totaling HKD 15,000,000, compared to HKD 5,000,000 for the previous year[31] - The board declared an interim dividend of HKD 0.015 per ordinary share, payable on April 24, 2025, to shareholders listed on the register as of April 10, 2025[64] Cash Flow and Liquidity - The company reported a net cash inflow from operating activities of HKD 50,135,000 for the six months ended January 31, 2025, compared to a cash outflow of HKD 6,079,000 in the same period last year, marking a significant improvement[13] - The company’s cash and cash equivalents at the end of the period rose to HKD 105,863,000, up from HKD 45,278,000 at the end of the previous period, reflecting a net increase of HKD 32,098,000[13] - The company’s financing activities resulted in a net cash outflow of HKD 17,350,000, compared to an inflow of HKD 6,940,000 in the previous year, primarily due to increased dividend payments[13] - The company's liquidity ratio as of January 31, 2025, was approximately 11.4 times, with cash and bank balances of about HKD 105.9 million[57] - The company has no bank borrowings as of January 31, 2025, and maintains a low debt-to-equity ratio of approximately 0.8%[57] Assets and Liabilities - The company's cash and bank balances increased to HKD 105.86 million as of January 31, 2025, compared to HKD 73.77 million as of July 31, 2024[10] - Total assets less current liabilities amounted to HKD 464.94 million as of January 31, 2025, slightly down from HKD 467.44 million as of July 31, 2024[10] - The company's net asset value as of January 31, 2025, was HKD 442.73 million, compared to HKD 443.73 million as of July 31, 2024[10] - The company reported a decrease in trade and lease receivables to HKD 62.97 million as of January 31, 2025, from HKD 81.63 million as of July 31, 2024[10] - Trade and lease receivables as of January 31, 2025, amounted to HKD 68,173,000, down from HKD 88,279,000 as of July 31, 2024, a decline of 22.7%[35] - The expected credit loss provision for trade and lease receivables was HKD 5,208,000 as of January 31, 2025, compared to HKD 6,648,000 as of July 31, 2024, showing a reduction of 21.6%[35] Expenses - The cost of sold inventory for the six months ended January 31, 2025, was HKD 69,575,000, up from HKD 55,904,000 in 2024, indicating a rise of 24.5%[28] - The cost of revenue for the current period was approximately HKD 114.0 million, an increase of about 13.8% from approximately HKD 100.2 million, primarily due to a corresponding increase in sales of machinery and equipment[49] - Administrative and other operating expenses increased by approximately 3.2% to about HKD 22.4 million, mainly due to higher overall operating costs and marketing expenses[53] Government Support and Grants - The company received government grants totaling HKD 310,000 during the reporting period, compared to HKD 19,000 in the previous year, indicating increased support from government initiatives[23] Employment - The group employed 118 full-time employees as of January 31, 2025, an increase from 107 employees as of July 31, 2024[62] - Total employee costs, including director remuneration, were approximately HKD 27.9 million for the period, compared to HKD 28.6 million for the six months ending January 31, 2024[62] Corporate Governance - The group’s interim results for the period were not reviewed by external auditors but were reviewed by the audit committee, which consists of three independent non-executive directors[78] - The chairman and CEO of the company is Zhou Lianfa, who made the announcement on March 21, 2025[79] - The board confirmed compliance with the standard code for securities transactions throughout the period[74] Shareholder Information - Generous Way Limited holds 750 million shares, representing 75% of the company's issued shares, with both the chairman and a non-executive director having equal beneficial ownership[67] - The company has not granted or agreed to grant any share options under the share option scheme since its adoption, with a maximum of 100 million shares available for grant[72] - The company did not purchase, sell, or redeem any of its listed securities during the period[73] - There were no significant events affecting the group reported after the end of the period up to the report date[76]
德利机械(02102) - 2025 - 中期财报