Financial Performance - The company reported revenue of approximately HKD 791.9 million for the six months ended September 30, 2025, representing an increase of about 38.2% or HKD 218.7 million compared to the same period in 2024[3]. - The net profit for the same period was approximately HKD 2.9 million, a decrease of about HKD 0.9 million or 23.3% from HKD 3.8 million in 2024[3]. - Basic and diluted earnings per share were approximately HKD 0.29, down from HKD 0.37 in the previous year[3]. - Total revenue increased by approximately HKD 218.7 million or 38.2% to about HKD 791.9 million for the six months ended September 30, 2025, compared to approximately HKD 573.2 million for the same period in 2024[25]. - Gross profit decreased by approximately HKD 3.6 million or 9.2% to about HKD 35.8 million for the six months ending September 30, 2025, with a gross margin of approximately 4.5% compared to 6.9% for the previous period[29]. - Net profit attributable to owners decreased by approximately HKD 0.9 million or 23.3% to about HKD 2.9 million, primarily due to increased subcontracting costs and additional costs related to engineering defects[34]. Dividend and Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[3]. - The company did not recommend an interim dividend for the six months ended September 30, 2025[18]. - As of September 30, 2025, the total issued shares of the company are 1,013,000,000[52]. - Mr. Wu holds 645,000,000 shares, representing 63.67% of the total shares[51]. - No share options were exercised or forfeited during the six months ending September 30, 2025[60]. - The company has a stock option plan that allows for a maximum of 10% of the total issued shares to be granted as options, equating to 100,000,000 shares[63]. - The exercise price for the granted stock options is set at HKD 0.40 per share[60]. - The company has granted stock options totaling 10,000,000 shares to Wu Caihua, representing approximately 0.99% of the issued shares as of September 30, 2025[70]. - Lin Jiahui has been granted stock options totaling 3,000,000 shares, which is about 0.30% of the issued shares[70]. - The company has issued stock options totaling 5,000,000 shares to other senior management and employees, accounting for approximately 0.49% of the issued shares[70]. Cash Flow and Assets - Operating cash flow generated was HKD 15.0 million, a significant improvement from a cash outflow of HKD 20.2 million in the same period last year[8]. - Total assets less current liabilities amounted to HKD 141.4 million, an increase from HKD 138.2 million as of March 31, 2025[5]. - The company’s cash and cash equivalents increased to HKD 65.0 million from HKD 50.1 million at the beginning of the period[8]. - Trade and other receivables rose to HKD 173.9 million from HKD 121.1 million, indicating improved collection or increased sales[5]. - The company’s total equity increased to HKD 139.6 million from HKD 136.7 million as of March 31, 2025[6]. - Total assets as of September 30, 2025, were approximately HKD 641.3 million, with total liabilities and equity of approximately HKD 501.7 million and HKD 139.6 million, respectively[35]. Expenses and Costs - Administrative and other operating expenses rose by approximately HKD 0.8 million or 2.6% to about HKD 30.2 million, mainly due to an increase in salary costs[31]. - Financing costs decreased to HKD 3.7 million from HKD 6.2 million, reflecting better management of debt[4]. - Financing costs decreased by approximately HKD 2.4 million or 39.5% to about HKD 3.7 million, attributed to lower interest rates and a reduction in bank borrowings from approximately HKD 186.4 million to HKD 137.4 million[32]. - Other income, including bank interest income, decreased to HKD 1.6 million for the six months ended September 30, 2025, from HKD 1.2 million for the same period in 2024[4]. - Other income increased by approximately HKD 0.4 million or 33.5% to about HKD 1.6 million, primarily due to increased funding from industry associations[30]. Business Strategy and Market Outlook - The company expects continued growth in the real estate market supported by a recovery in the leasing and property sales market, along with a declining interest rate environment[26]. - The company aims to diversify its business portfolio and strengthen its industry position while seeking opportunities in both private and public sectors[27]. - The company will continue to focus on its core business areas, including substructure and superstructure construction services, RMAA services, and leasing services[24]. - The company has no known business or interests that compete with its operations as of September 30, 2025[54]. Governance and Audit - The audit committee consists of three independent non-executive directors, with Zhou Jinrong serving as the chairman, possessing appropriate accounting and financial management expertise[71]. - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed internal control procedures and financial reporting matters[71]. - The unaudited interim financial statements for the six months ended September 30, 2025, have been reviewed by the audit committee along with management[71]. - The executive directors as of November 24, 2025, include Wu Caihua, Lin Jiahui, and Wu Huaying[73]. - The non-executive director is Tang Xiansen, while the independent non-executive directors are Wei Yongkang, Zhou Jinrong, and Wei Yanhua[73].
正利控股(03728) - 2026 - 中期业绩