Project Management - The company managed 52 active projects during the six months ended June 30, 2025, down from 69 projects in the previous period[12] - The company secured 30 new projects with a total contract value of approximately HKD 39.1 million during the relevant period[12] - Demand for RMAA and new construction services remains strong, driven by favorable market conditions[12] Financial Performance - Revenue decreased from approximately HKD 86.1 million for the six months ended June 30, 2024, to approximately HKD 71.5 million for the six months ended June 30, 2025, a decline of about 16.9%[15] - Gross profit fell from approximately HKD 11 million to approximately HKD 6.5 million, with the overall gross margin decreasing from about 12.8% to 9.1%[17] - Net profit for the six months ended June 30, 2025, was approximately HKD 0.2 million, down from approximately HKD 1.0 million for the same period in 2024[22] - The profit before tax for the period was HKD 245,000, a decline of 75.2% compared to HKD 990,000 in the prior year[53] - The total comprehensive income for the period was HKD 189,000, down from HKD 990,000 in the same period last year[53] - Basic and diluted earnings per share for the six months ended June 30, 2025, were HKD 0.01, compared to HKD 0.09 in 2024[53] Cost Management - Direct costs reduced from approximately HKD 75.1 million to approximately HKD 65.0 million, a decrease of about 13.4%, attributed to lower subcontracting and material costs[16] - Administrative expenses decreased by approximately HKD 3.7 million or 37.4%, from approximately HKD 9.9 million to approximately HKD 6.2 million, due to cost control measures[19] - Financing costs dropped by approximately 75.6% from about HKD 0.1 million to approximately HKD 28,000, as bank borrowings were reduced[20] - Employee costs, including directors' remuneration, totaled HKD 12,098,000 for the six months ended June 30, 2025, down from HKD 17,800,000 in the previous year[87] Assets and Liabilities - Total assets decreased to HKD 122,762,000 from HKD 130,239,000 as of December 31, 2024, representing a decline of approximately 5.7%[54] - Current liabilities decreased to HKD 79,697,000 from HKD 87,589,000, a reduction of about 9.0%[54] - Total liabilities decreased to HKD 73,172,000 from HKD 81,841,000, a reduction of approximately 10.6%[57] - The company’s bank borrowings decreased to HKD 4,142,000 from HKD 4,922,000, a decline of about 15.8%[54] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2025, was HKD (18,712,000), compared to HKD 2,034,000 for the same period in 2024, indicating a significant decline in cash flow[61] - Cash and cash equivalents at the end of the period were HKD 2,813,000, down from HKD 6,042,000, marking a decrease of about 53.5%[61] Market Expansion - The company has entered the Chinese dairy product distribution market, aiming to capitalize on the growing demand for quality dairy products in China[14] - Revenue from the distribution of dairy products was HKD 5,631,000, with no revenue reported in the same period last year[73] Shareholder Information - The company did not recommend an interim dividend for the six months ended June 30, 2025[47] - The total number of issued and fully paid shares increased to 1,260,000,000 as of June 30, 2025, from 1,050,000,000 as of January 1, 2024[117] Segment Performance - The company operates two reportable segments: construction services and dairy product distribution, with a focus on resource allocation and performance evaluation[76] - The total segment profit for the six months ended June 30, 2025, was HKD 1,524,000, compared to HKD 2,018,000 for the same period in 2024, reflecting a decrease of 24.5%[78] Trade Receivables and Payables - Trade receivables decreased from HKD 17,068,000 as of December 31, 2024, to HKD 14,106,000 as of June 30, 2025, a decline of about 17%[101] - Trade payables decreased significantly to HKD 21,783,000 as of June 30, 2025, from HKD 47,321,000 as of December 31, 2024, representing a decline of approximately 54%[109] Taxation - Income tax expense for the six months ended June 30, 2025, was approximately HKD 56,000, compared to zero in the previous period, primarily due to new business segment contributions[21] - The company’s tax expense for the period included HKD 56,000 for corporate income tax in China[90]
圣唐控股(08305) - 2025 - 中期业绩