Financial Performance - For the six months ended September 30, 2025, Hanison Construction Holdings Limited reported an unaudited consolidated revenue of HKD 770.8 million, a decrease of 21.7% compared to HKD 984.3 million in the same period last year[3]. - The group recorded an unaudited consolidated loss of HKD 274.6 million for the six months ended September 30, 2025, compared to a net loss of HKD 193.1 million in the same period last year[4]. - The total comprehensive loss for the six months ended September 30, 2025, was HKD 266.7 million, compared to HKD 191.0 million in the previous year[7]. - Basic loss per share for the six months ended September 30, 2025, was HKD 25.6 cents, compared to HKD 18.0 cents in the same period last year[4]. - The operating performance for the six months, excluding the aforementioned losses, was a profit of HKD 15.9 million, down from HKD 23 million in the previous year[4]. Revenue Breakdown - Construction contract revenue was HKD 623,495,000, down 15.2% from HKD 735,651,000 year-over-year[13]. - Property management service revenue was HKD 6,266,000, a slight decrease from HKD 6,851,000 in the previous year[13]. - The company’s total revenue from property investment was HKD 24,038,000, down from HKD 31,147,000 year-over-year[13]. - The Property Investment Division recorded revenue of HKD 27,300,000 for the six months ended September 30, 2025, a decrease of 23.4% compared to HKD 35,600,000 for the same period in 2024[55]. - The Property Agency and Management Division's revenue increased significantly to HKD 22,200,000, up 200% from HKD 7,400,000 in the previous year[56]. Asset and Liability Management - As of September 30, 2025, total non-current assets amounted to HKD 3,513.1 million, a decrease from HKD 3,667.4 million as of March 31, 2025[8]. - Current liabilities exceeded current assets by HKD 79.9 million as of September 30, 2025[10]. - The total assets as of September 30, 2025, amounted to HKD 5,647,705,000, down from HKD 5,965,105,000 as of March 31, 2025[18]. - Total liabilities as of September 30, 2025, were HKD 2,452,749,000, a decrease from HKD 2,503,472,000 as of March 31, 2025[18]. - As of September 30, 2025, the total cash and bank balance was HKD 327,500,000, down from HKD 477,700,000 on March 31, 2025, with a current ratio decreasing from 1.39 to 0.96[63]. Joint Ventures and Impairment - The impairment loss on joint venture loans was HKD 217,600,000 for the six months ended September 30, 2025, compared to HKD 102,984,000 in the previous year[19]. - The total amount of loans to joint ventures as of September 30, 2025, was HKD 950,430,000, down from HKD 1,085,366,000 as of March 31, 2025[34]. - The company’s total expected credit loss for joint venture loans was HKD 449,666,000 as of September 30, 2025[36]. - A total impairment loss of HKD 217,600,000 was recognized for joint venture loans under the expected credit loss model as of September 30, 2025[69]. - The company continues to monitor the financial status of joint ventures to effectively manage credit risk associated with loans provided[67]. Strategic Initiatives and Market Conditions - The company is exploring design modifications for a proposed residential development project in Tuen Mun in response to market changes, with construction ongoing[52]. - The company has submitted a planning application to convert the Johnson Place project into a hotel use, with demolition work to commence upon obtaining approvals[54]. - The Chinese economy showed a moderate growth of 4.8% year-on-year in the first three quarters of 2025, slightly below the government's target of 5%[58]. - Hong Kong's economy is gradually recovering, supported by lower borrowing costs following interest rate cuts since 2024, enhancing household and business financial conditions[59]. - The construction materials sector is benefiting from the recovery in both public and private housing markets, driven by infrastructure projects like the Tuen Mun Bypass[60]. Employee and Governance - Employee costs for the six months ended September 30, 2025, were HKD 99,100,000, an increase from HKD 91,200,000 for the same period in 2024[73]. - The company maintains a competitive compensation package for employees, including discretionary bonuses and stock option plans[73]. - The company has complied with all applicable provisions of the Corporate Governance Code as of September 30, 2025, except for the attendance of the chairman at the annual general meeting[74]. - The company has engaged Deloitte to assist in the review of the interim financial statements for the six months ending September 30, 2025[77].
兴胜创建(00896) - 2026 - 中期业绩