顺兴集团控股(01637) - 2026 - 中期业绩

Financial Performance - Revenue for the six months ended September 30, 2025, was approximately HKD 164.57 million, a decrease of 50% compared to HKD 330.02 million for the same period in 2024[3] - Gross profit for the same period was approximately HKD 2.78 million, compared to a gross loss of HKD 1.22 million in 2024[3] - Loss attributable to owners for the period was approximately HKD 3.91 million, a reduction from a loss of HKD 8.75 million in the previous year[3] - Basic loss per share was HKD 0.01, improved from HKD 0.022 in the previous year[3] - Revenue decreased by approximately HKD 165.4 million or 50.1% to about HKD 164.6 million compared to the previous period of approximately HKD 330 million[24] - Basic loss per share was HKD (3,921) thousand for the six months ended September 30, 2025, compared to HKD (8,747) thousand for the same period in 2024[17] - Other income slightly decreased to approximately HKD 1.5 million from about HKD 1.7 million[33] - The group recorded other gains of approximately HKD 3.2 million, attributed to fair value gains on financial assets[34] - The group reported a pre-tax loss of approximately HKD 5.3 million, with an effective tax rate of about 26.6%[38] Revenue Breakdown - Revenue from the supply, installation, and maintenance of mechanical ventilation and air conditioning systems was HKD 130.46 million, down from HKD 251.08 million in 2024[12] - Revenue from the supply, installation, and maintenance of low-voltage electrical systems was HKD 34.11 million, down from HKD 78.94 million in 2024[12] - Revenue contribution from mechanical ventilation and air conditioning systems was approximately 79.3%, while low-voltage electrical systems contributed about 20.7% during the period[27] - Revenue decreased by approximately HKD 165.4 million or 50.1% to about HKD 164.6 million, with contributions from mechanical ventilation and low-voltage electrical systems at approximately 79.3% and 20.7% respectively[31] Assets and Liabilities - The company reported total assets of HKD 310.95 million as of September 30, 2025, compared to HKD 323.31 million as of March 31, 2025[5] - Current liabilities decreased to HKD 138.40 million from HKD 143.31 million in the previous period[5] - Trade receivables as of September 30, 2025, were HKD 32,556 thousand, down from HKD 86,258 thousand as of March 31, 2025[19] - Contract assets amounted to HKD 130,508 thousand as of September 30, 2025, compared to HKD 140,991 thousand as of March 31, 2025[21] - Trade payables were HKD 26,150 thousand as of September 30, 2025, compared to HKD 30,254 thousand as of March 31, 2025[22] - Cash and cash equivalents increased to HKD 150.73 million from HKD 97.52 million[5] - Cash and cash equivalents amounted to approximately HKD 150.7 million, up from HKD 97.5 million at the end of the previous period[41] - The group maintained a current ratio of approximately 2.2 times, slightly down from 2.3 times[41] - The group has no bank borrowings, resulting in a debt-to-equity ratio of zero[43] Corporate Governance - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules and believes it has complied with all applicable provisions during the period[55] - The board of directors confirmed compliance with the standard code for securities transactions during the period[56] - No purchases, sales, or redemptions of the company's listed securities occurred during the period[57] - The audit committee reviewed the unaudited interim financial statements for the six months ending September 30, 2025, and found them compliant with applicable accounting standards[59] - The interim results have been reviewed by Deloitte, ensuring adherence to the relevant review standards[60] - The board of directors did not declare any interim dividend for the period[61] - No interim dividend was declared for the six months ended September 30, 2025, consistent with the previous year[18] - The interim report for 2025-26 will be published on the company's website and the Hong Kong Stock Exchange website[62] Business Expansion - Major projects awarded during the period included 5 projects with a total contract value of approximately HKD 16 million, compared to 3 projects valued at HKD 109.3 million in the previous year[25] - The group is actively expanding its service scope into fire protection systems and plumbing systems to diversify its project portfolio[29] - The company operates solely in Hong Kong, with all revenue generated from this region[13]