Revenue Performance - For the six months ended September 30, 2025, the group's revenue increased by approximately HKD 25.8 million or 12.6% to approximately HKD 230.6 million from approximately HKD 204.8 million for the same period in 2024[11]. - The revenue from the security services segment rose by approximately HKD 13.0 million or 6.8% to approximately HKD 205.5 million, driven by increases in general security services, event and crisis security services, and manpower support services[12]. - Facility management services revenue increased by approximately HKD 0.7 million or 5.9% to approximately HKD 13.0 million, primarily due to overall price increases in contract renewals[13]. - Revenue for the six months ended September 30, 2025, was HKD 230,609,000, representing a 12.6% increase from HKD 204,819,000 in the same period of 2024[76]. - The group’s external revenue from security services was HKD 205,530,000, while facility management services generated HKD 13,045,000, and security system services contributed HKD 12,034,000[88]. Profitability and Expenses - The total profit and comprehensive income for the period decreased by approximately HKD 2.4 million or 46.3% to approximately HKD 2.8 million, with the net profit margin dropping from approximately 2.6% to approximately 1.2%[23]. - Employee benefits expenses rose by approximately HKD 18.4 million or 9.9% to approximately HKD 204.5 million, mainly due to a 5.25% increase in the statutory minimum wage and an increase in total employees from new service contracts[16]. - Other operating expenses increased by approximately HKD 2.7 million or 34.6% to approximately HKD 10.7 million, attributed to higher legal and professional fees for security services and IT expenses[21]. - The income tax expense increased by approximately HKD 0.2 million or 12.4% to approximately HKD 1.7 million, mainly due to an increase in taxable profits[22]. - Sales and marketing expenses decreased by approximately HKD 0.2 million or 21.5% to approximately HKD 0.8 million, primarily due to a reduction in security personnel dispatched to the private sector[18]. - Subcontracting costs increased by approximately HKD 2.0 million or 67.6% to approximately HKD 5.0 million, mainly due to an increase in subcontracted services for security systems[19]. Financial Position - As of September 30, 2025, the group's bank balance and cash amounted to approximately HKD 46.0 million, a decrease of about HKD 8.7 million or 15.8% from HKD 54.7 million on March 31, 2025[24]. - The current ratio as of September 30, 2025, was approximately 3.8 times, down from 4.5 times on March 31, 2025[24]. - Trade receivables and unverified income as of September 30, 2025, were approximately HKD 156.0 million, an increase from HKD 146.2 million on March 31, 2025[29]. - As of September 30, 2025, the group had a total borrowing of approximately HKD 2.7 million, with a debt-to-equity ratio of 1.3%[24]. - Total assets as of September 30, 2025, were HKD 252,049,000, an increase from HKD 237,965,000 as of March 31, 2025[77]. - Current liabilities rose to HKD 66,786,000 from HKD 52,776,000, indicating a 26.6% increase[77]. - Cash and cash equivalents at the end of the period were HKD 46,029,000, down from HKD 54,696,000, a decrease of 16.4%[80]. - The company’s total equity increased to HKD 202,973,000 from HKD 202,820,000, reflecting a slight growth[77]. Shareholder Information - International Yongsheng BVI holds 70.0% of the company's shares, with 560,000,000 shares outstanding as of September 30, 2025[51]. - The company is owned 33.33% by Senye, which is fully owned by Mr. Ma Qiaosheng, indicating a significant ownership structure[55]. - The major shareholders include International Yongsheng BVI, Senye, Wenhua, and Jianqiao, each holding 560,000,000 shares, representing 70.0% of the issued share capital[51]. - The spouses of the major shareholders are also considered to have interests in the shares held by their respective partners[55]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as the basis for its corporate governance practices[61]. - The company maintained the required public float as per the listing rules as of September 30, 2025[66]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2025[69]. Dividends and Proceeds - The company did not declare an interim dividend for the six months ending September 30, 2025[59]. - The company declared dividends amounting to HKD 2,700,000 during the period[79]. - The total net proceeds from the GEM listing amounted to approximately HKD 32.0 million, with HKD 27.3 million already utilized[58]. - The company plans to delay the use of unutilized proceeds of HKD 4.1 million for purchasing machinery and equipment, and HKD 3 million for IT infrastructure upgrades by 12 months, now expected to be fully utilized by March 31, 2026[58]. Cash Flow and Investments - Operating cash flow before changes in working capital was HKD 6,288,000, compared to HKD 8,249,000 in the previous year[80]. - The company reported a net cash outflow from operating activities of HKD 5,276,000, a significant improvement from HKD 53,735,000 in the prior year[80]. - The company invested HKD 1,062,000 in property, plant, and equipment, and HKD 2,035,000 in right-of-use assets during the period, compared to HKD 109,000 and zero respectively in the previous year[95]. Trade Receivables and Payables - Trade receivables from third parties increased to HKD 109,815,000 as of September 30, 2025, compared to HKD 94,094,000 as of March 31, 2025, reflecting a growth of approximately 16.7%[96]. - Total trade and other receivables and deposits amounted to HKD 202,405,000 as of September 30, 2025, up from HKD 180,196,000 as of March 31, 2025, indicating an increase of about 12.3%[96]. - The aging analysis of trade receivables shows that amounts overdue by more than 120 days rose to HKD 49,262,000 as of September 30, 2025, compared to HKD 24,420,000 as of March 31, 2025, representing a significant increase of 101.5%[98]. - Trade payables increased significantly to HKD 16,441,000 as of September 30, 2025, from HKD 2,756,000 as of March 31, 2025, reflecting a growth of approximately 493.5%[99].
国际永胜集团(06663) - 2026 - 中期财报