Financial Performance - Revenue for the period was HKD 181,969,000, a decrease of 11.8% compared to HKD 206,385,000 for the same period last year[4] - Profit for the period was HKD 51,331,000, compared to a loss of HKD 12,074,000 for the same period last year[4] - Profit attributable to owners of the company was HKD 50,825,000, compared to a loss of HKD 12,195,000 for the same period last year[4] - The total comprehensive income for the period was HKD 53,728,000, compared to a loss of HKD 15,315,000 for the same period last year[6] - The group reported a profit of HKD 51,331,000 for the period, compared to a loss of HKD 12,047,000 in 2024, mainly due to non-recurring income from the exercise of rights[49] Revenue Breakdown - For the six months ended June 30, 2025, the total revenue from client contracts was HKD 181,969,000, a decrease of 11.8% compared to HKD 206,385,000 for the same period in 2024[17] - Revenue from architectural design services was HKD 163,295,000, down 10.3% from HKD 182,162,000 in the previous year[17] - Revenue from landscape design, urban planning, interior design, and heritage conservation services decreased to HKD 18,674,000 from HKD 24,223,000, representing a decline of 22.9%[17] - External customer revenue from Mainland China was HKD 58,633,000, down 28% from HKD 81,271,000 in 2024[19] - Revenue from Hong Kong increased to HKD 83,208,000, up 8.6% from HKD 76,556,000 in the previous year[19] Contractual Obligations - The total amount of new contracts signed and supplementary contracts during the period was HKD 232,804,000, an increase of HKD 46,292,000 or 24.8% compared to HKD 186,512,000 for the same period last year[4] - The total backlog of contracts was HKD 1,083,381,000, a decrease of HKD 178,379,000 or 14.1% from HKD 1,261,760,000 as of June 30, 2024[4] - As of June 30, 2025, the remaining contract amount for the company was approximately HKD 1,083,381,000, a decrease of 14.1% from HKD 1,261,760,000 in the same period of 2024[43] Assets and Liabilities - Non-current assets totaled HKD 216,794,000 as of June 30, 2025, compared to HKD 151,450,000 as of December 31, 2024[7] - Current assets amounted to HKD 486,989,000, an increase from HKD 468,435,000 as of December 31, 2024[7] - Total equity was HKD 467,224,000, compared to HKD 399,063,000 as of December 31, 2024[7] - The company’s total liabilities decreased, reflecting a reduction in bank borrowings by HKD 45,000,000 during the period[10] Cash Flow and Liquidity - For the six months ended June 30, 2025, the company reported a net cash inflow from operating activities of HKD 17,973,000, compared to HKD 6,188,000 for the same period in 2024, representing a significant increase of 189%[10] - The company reported a significant increase in cash and cash equivalents, reaching HKD 89,782,000 at the end of the period, up from HKD 77,933,000 at the end of June 2024[10] - The company’s restricted cash decreased by HKD 4,492,000 during the period, indicating improved liquidity management[10] Share Capital and Dividends - The company issued new shares resulting in net proceeds of HKD 13,776,000 during the period[10] - The company did not recommend any interim dividend for the six months ended June 30, 2025, nor confirmed any dividend distribution[30] - The company’s issued share capital increased to 432,391,170 shares as of June 30, 2025, following a rights issue that raised approximately HKD 14,413,000[37] Employee and Operational Changes - As of June 30, 2025, the group employed approximately 550 full-time employees, a decrease of about 21% from approximately 650 employees as of June 30, 2024[58] - Employee costs reduced to approximately HKD 118,566,000, down from HKD 149,659,000 as of June 30, 2024, primarily due to optimization of employee compensation plans and reduction in workforce[58] Strategic Focus and Market Expansion - The group is strategically focusing on green and smart building developments to strengthen its market position in key areas[50] - The group is actively expanding in the Middle East and North Africa, capitalizing on Saudi Arabia's Vision 2030 and the demand for integrated development projects[50] Corporate Governance - The board consists of six executive directors and three non-executive directors, including independent members[79] - The audit committee, consisting of one non-executive director and two independent non-executive directors, reviewed the unaudited consolidated results for the six months ended June 30, 2025[77] - The company has adopted a code of conduct for directors' securities trading, confirming compliance with the standards set by the listing rules[73]
思城控股(01486) - 2025 - 中期业绩