Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 91,406,000, a decrease of 24.2% compared to HKD 120,588,000 for the same period in 2024[4] - Gross profit for the same period was HKD 9,393,000, down 38.5% from HKD 15,247,000 in 2024[4] - The company reported a profit before tax of HKD 311,000, a significant decline of 80.0% from HKD 1,546,000 in the previous year[5] - Basic and diluted earnings per share were HKD 0.04, compared to HKD 0.19 for the same period in 2024, reflecting a decrease of 78.9%[5] - The group recorded a net profit of approximately HKD 0.3 million for the six months ended September 30, 2025, down from approximately HKD 1.5 million in the same period of 2024, attributed to a decrease in revenue[37][44] - Revenue decreased by approximately 24.2% from about HKD 120.6 million for the six months ended September 30, 2024, to about HKD 91.4 million for the same period in 2025, primarily due to the ongoing economic downturn in the construction industry[39] - Direct costs for the six months ended September 30, 2025, were approximately HKD 82.0 million, a decrease of about 22.1% from approximately HKD 105.3 million for the same period in 2024, consistent with the revenue decline[40] - Gross profit for the six months ended September 30, 2025, was approximately HKD 9.4 million, with a gross margin of about 10.3%, down from a gross profit of approximately HKD 15.2 million and a margin of about 12.6% in the same period of 2024[41] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 106,660,000, down from HKD 131,919,000 as of March 31, 2025[6] - Current liabilities decreased to HKD 43,359,000 from HKD 72,235,000, indicating improved liquidity management[6] - The net asset value increased slightly to HKD 57,210,000 from HKD 56,899,000, showing stability in equity[7] - Trade receivables increased to HKD 23,130,000 from HKD 21,360,000, indicating a potential growth in sales or credit terms[6] - As of September 30, 2025, the group had bank borrowings of approximately HKD 15.1 million, down from about HKD 25.0 million as of March 31, 2025[47] - The capital debt ratio as of September 30, 2025, was approximately 86.4%, a decrease from about 131.8% as of March 31, 2025[47] - The group had cash reserves of approximately HKD 1.6 million as of September 30, 2025, down from about HKD 14.7 million as of March 31, 2025[46] Income and Expenses - Other income for the six months ended September 30, 2025, totaled HKD 3,615,000, a significant increase from HKD 426,000 in the same period of 2024, representing an increase of approximately 748.6%[19] - Financing costs decreased to HKD 650,000 for the six months ended September 30, 2025, down from HKD 813,000 in the same period of 2024, indicating a reduction of about 20.0%[20] - The total employee costs for the six months ended September 30, 2025, were HKD 17,588,000, a decrease of approximately 5.3% compared to HKD 18,564,000 for the same period in 2024[21] - Administrative expenses decreased by approximately 4.6% to about HKD 13.3 million for the six months ended September 30, 2025, compared to approximately HKD 13.9 million in the same period of 2024, primarily due to a reduction in employee costs[43] Business Operations - The company continues to focus on foundation engineering services in Hong Kong, with no new product launches or significant market expansions reported[10] - The group generated revenue solely from foundation engineering services in Hong Kong, with total revenue for the six months ended September 30, 2025, amounting to HKD 311,000, compared to HKD 1,536,000 for the same period in 2024, reflecting a decrease of approximately 80.7%[18][27] - Major clients contributing over 10% of total revenue included Client B with HKD 50,574,000 and Client A with HKD 30,238,000 for the six months ended September 30, 2025[18] Corporate Governance - The company is committed to maintaining high standards of corporate governance, regularly reviewing its practices to align with the Corporate Governance Code[70] - The audit committee, established on December 4, 2017, has reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2025, ensuring compliance with applicable accounting standards and adequate disclosures[71] - The board of directors includes executive directors Ling Zhihui and Liang Zhuohao, and independent non-executive directors including Ling Yutang, Zhuang Jinfeng, He Zhenchong, Shi Weilian, and Qiu Shuwen[74] Shareholder Information - Major shareholders include Reach Goal with 331,220,000 shares (41.40%) and Simple Joy Investments Limited with 202,910,000 shares (25.36%) as of September 30, 2025[58] - The group did not declare an interim dividend for the six months ended September 30, 2025, consistent with the previous year[24] - The board does not recommend the distribution of an interim dividend for the six months ended September 30, 2025[56] Stock Option Plan - The stock option plan was conditionally adopted on December 4, 2017, aimed at attracting and retaining top talent, providing additional incentives to employees, directors, and other stakeholders[63] - The total number of shares that may be issued upon the exercise of stock options granted under the plan shall not exceed 10% of the total issued shares as of the approval date[65] - The maximum number of shares that may be issued under the stock option plan for any twelve-month period shall not exceed 1% of the company's issued share capital[66] - The stock options granted must be accepted within seven days from the offer date, with a nominal acceptance fee of HKD 1[67] - The stock option plan will remain effective for ten years from December 4, 2017, with a total of 80,000,000 options available for grant as of September 30, 2025, representing approximately 10.0% of the issued shares[68] - No stock options were granted, exercised, expired, or lapsed under the stock option plan during the six months ending September 30, 2025[69]
凌锐控股(00784) - 2026 - 中期业绩