Financial Performance - For the six months ended February 28, 2025, ECI Technology Holdings Limited reported revenue of approximately HKD 99,441,000, a decrease of 6.0% from HKD 105,913,000 in the same period of 2024[10]. - The gross profit for the same period was approximately HKD 28,268,000, representing an increase of 3.0% compared to HKD 27,434,000 in 2024[10]. - The net profit for the period was approximately HKD 4,542,000, down 33.0% from HKD 6,788,000 in the previous year[11]. - Total comprehensive income attributable to the company's owners for the period was HKD 5,145,000, a decrease of 28.5% from HKD 7,203,000 in the previous year[21]. - Basic earnings per share decreased to HKD 0.284 from HKD 0.424, reflecting a decline of 32.9%[21]. Expenses and Costs - Administrative expenses increased to HKD 24,142,000 from HKD 20,780,000, reflecting a rise of 16.5%[18]. - The total employee costs increased to HKD 58,001,000 for the six months ended February 28, 2025, compared to HKD 51,545,000 in the previous year, reflecting a rise of 12.5%[58]. - The total cost of acquiring property, plant, and equipment was approximately HKD 85,000 for the six months ended February 28, 2025, significantly lower than HKD 2,439,000 for the same period in 2024[64]. Revenue Breakdown - Installation services generated revenue of HKD 40,466,000, down 21.3% from HKD 51,379,000 in the previous year[35]. - Maintenance services revenue increased by 12.9% to HKD 45,339,000 from HKD 40,274,000[35]. - Security services revenue decreased slightly to HKD 13,452,000 from HKD 14,163,000, a decline of 5.0%[35]. - Electric vehicle charging revenue rose to HKD 184,000, up 89.7% from HKD 97,000[35]. Profitability and Segment Performance - The total segment profit for the installation and maintenance services was HKD 6,270,000, down from HKD 8,586,000, reflecting a decrease of 26.5%[40][42]. - The total segment profit for security services was HKD 633,000, compared to HKD 843,000, a decrease of 25.0%[40][42]. - The electric vehicle charging business reported a segment loss of HKD 77,000, compared to a loss of HKD 71,000 in the previous year[40][42]. Cash Flow and Assets - Cash and cash equivalents decreased to HKD 20,246,000 from HKD 31,932,000, a decline of 36.5%[25]. - Net cash used in operating activities was HKD (10,205,000), compared to HKD 13,235,000 generated in the previous year[25]. - Total assets less current liabilities rose to HKD 93,161,000, an increase of 5.8% compared to HKD 88,626,000[23]. - Trade receivables increased significantly to HKD 42,253,000, up 43.3% from HKD 29,462,000[22]. Liabilities and Equity - The company's total equity increased to HKD 89,839,000 from HKD 84,694,000, reflecting a growth of 6.4%[23]. - The group’s trade payables decreased to HKD 4,112,000 as of February 28, 2025, down from HKD 4,892,000 as of August 31, 2024, indicating a reduction of 15.9%[81]. - The group’s contract liabilities increased to HKD 1,643,000 as of February 28, 2025, from HKD 1,535,000 as of August 31, 2024, representing a rise of 7.1%[73]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules, with a deviation regarding the separation of the roles of Chairman and CEO[128]. - The audit committee, consisting of four independent non-executive directors, has reviewed the unaudited consolidated financial statements for the six months ended February 28, 2025[131]. - The company confirmed compliance with the non-competition agreement by its controlling shareholders as of February 28, 2025, and the report date[126]. Future Outlook and Strategy - The company is focused on maintaining financial stability amid market fluctuations and is exploring new strategies for growth[10]. - The group plans to focus on bidding for ELV maintenance service contracts to strengthen customer relationships and increase market share[99]. - The security guard business is recovering, with ongoing projects in the area, and the company aims to participate in more security projects in the coming year[99]. - The company has secured a new significant contract from the government for maintenance and improvement of security systems at multiple locations for the Hong Kong Police Force, starting in March 2025[97].
ECI TECH(08013) - 2025 - 中期业绩