Financial Performance - Total revenue for the six months ended June 30, 2025, increased to approximately HKD 3,570.9 million, compared to HKD 2,773.2 million for the same period in 2024, representing a growth of 28.7%[2] - Gross profit for the six months ended June 30, 2025, rose to approximately HKD 295.4 million, up from HKD 188.1 million in 2024, reflecting an increase of 57.1%[2] - Profit attributable to owners of the company for the six months ended June 30, 2025, was approximately HKD 24.3 million, down from HKD 35.8 million in 2024, indicating a decrease of 32.1%[2] - Total comprehensive income for the six months ended June 30, 2025, amounted to HKD 54.1 million, compared to HKD 25.8 million in 2024, showing an increase of 109.5%[5] - The company’s basic and diluted earnings per share for the six months ended June 30, 2025, were HKD 0.0486, compared to HKD 0.0717 in 2024, reflecting a decrease of 32.4%[4] - The group’s profit for the period was HKD 25,937,000, down from HKD 36,220,000 in the previous year, representing a decrease of about 28.4%[15] - The group's net profit decreased by approximately HKD 10.3 million or about 28.4% to approximately HKD 25.9 million for the six months ending June 30, 2025, compared to approximately HKD 36.2 million for the same period in 2024[53] Dividends - The company has resolved not to declare an interim dividend for the six months ended June 30, 2025[3] - The company did not declare any interim dividend for the six months ended June 30, 2025, compared to an interim dividend of HKD 7,500,000 for the same period in 2024[26] - The board resolved not to declare any interim dividend for the reporting period, compared to a dividend of HKD 0.015 per share for the six months ending June 30, 2024[66] Assets and Liabilities - Non-current assets as of June 30, 2025, totaled approximately HKD 453.9 million, compared to HKD 366.4 million as of December 31, 2024, representing an increase of 23.9%[6] - Current assets as of June 30, 2025, were approximately HKD 4,684.6 million, compared to HKD 4,489.8 million as of December 31, 2024, reflecting an increase of 4.4%[6] - Total liabilities as of June 30, 2025, were approximately HKD 4,412.6 million, compared to HKD 4,179.3 million as of December 31, 2024, indicating an increase of 5.6%[6] - Net assets as of June 30, 2025, amounted to approximately HKD 725.9 million, up from HKD 675.9 million as of December 31, 2024, showing an increase of 7.4%[7] - Total assets as of June 30, 2025, amounted to HKD 5,138,491,000, an increase from HKD 4,856,182,000 as of December 31, 2024[16] - Total liabilities decreased to HKD 4,412,631,000 from HKD 4,180,289,000, reflecting a reduction of approximately 5.5%[16] - The group's debt-to-equity ratio was approximately 49.7% as of June 30, 2025, compared to approximately 30.2% as of December 31, 2024[60] Revenue Segments - The construction segment generated external sales of HKD 3,496,608,000, up from HKD 2,704,868,000 in the previous year, reflecting a growth of about 29.3%[15] - The environmental segment reported external sales of HKD 74,260,000, compared to HKD 68,320,000 in the prior year, marking an increase of approximately 8.5%[15] - Revenue from building construction projects rose by approximately HKD 727.5 million or 30.1% to about HKD 3,141.8 million for the six months ending June 30, 2025[39] - Revenue from RMAA projects increased by approximately HKD 64.2 million or 22.1% to about HKD 354.8 million for the six months ending June 30, 2025[40] - The environmental business segment's revenue from sewage and reclaimed water treatment services increased to HKD 55,174,000, a rise of 28.5% from HKD 42,802,000[17] Costs and Expenses - Adjusted profit before tax for the group was HKD 38,918,000, down from HKD 49,869,000 in the previous year, indicating a decline of about 22.0%[15] - Financing costs totaled HKD 31,417,000, an increase of 5.9% compared to HKD 29,677,000 in the previous year[23] - The company reported a total contract cost of HKD 3,275,451,000, which increased from HKD 2,585,126,000 in the prior year[19] - Research and development expenses amounted to HKD 9,977,000, a decrease of 14.4% from HKD 11,644,000 in the previous year[20] - Administrative expenses decreased from approximately HKD 98.6 million to about HKD 90.6 million, primarily due to reduced employee costs and R&D expenses[48] - Financial asset impairment increased significantly from approximately HKD 17.7 million to about HKD 133.8 million due to expected credit loss provisions[50] Projects and Operations - The company has 57 ongoing projects with a total original contract value of approximately HKD 35.1 billion as of June 30, 2025[33] - During the reporting period, the company secured 9 new projects with an original contract value of about HKD 5.3 billion and completed 4 projects valued at approximately HKD 3.3 billion[33] - Zhejiang Construction Environmental Protection Co., Ltd. has 2 projects with an original contract value of approximately HKD 5.5 million as of June 30, 2025[34] - The company has expanded its environmental services by obtaining operational contracts for industrial wastewater treatment, enhancing its service scope in watershed management[35] Market Outlook - The company expects steady economic growth in Hong Kong and anticipates new project opportunities from increased government infrastructure spending[37] Corporate Governance - The announcement is made by the Chairman of the company, Zhang Guan Hua[72] - As of the announcement date, the company has four executive directors and one non-executive director, along with four independent non-executive directors[73]
华营建筑(01582) - 2025 - 中期业绩