Financial Performance - The total revenue for the period was approximately HKD 129,414,000, a decrease of about HKD 4,780,000 or 3.6% compared to HKD 134,194,000 for the same period last year[11]. - Gross profit for the period was approximately HKD 9,393,000, with a gross margin of about 7.3%, down from HKD 11,379,000 and 8.5% respectively for the previous period[12]. - Other income decreased by approximately 68.1% to about HKD 869,000, compared to HKD 2,728,000 for the same period last year, primarily due to reduced rental income[14]. - The net profit for the period was approximately HKD 173,000, down from HKD 346,000 for the same period last year[18]. - Revenue for the six months ended September 30, 2025, was HKD 129,414,000, a decrease of 3.8% compared to HKD 134,194,000 for the same period in 2024[46]. - Gross profit for the same period was HKD 9,393,000, down 17.4% from HKD 11,379,000 in 2024[46]. - Operating profit decreased to HKD 1,835,000 from HKD 3,866,000, representing a decline of 52.6%[46]. - The company reported a profit attributable to shareholders of HKD 173,000, down 50% from HKD 346,000 in the previous year[46]. - The company reported a total comprehensive income of HKD 346,000 for the six months ended September 30, 2025, compared to HKD 0 for the same period in 2024[49]. Expenses and Costs - Administrative expenses were approximately HKD 8,350,000, a reduction of about HKD 3,115,000 or 27.2% compared to HKD 11,465,000 for the previous period[16]. - The total employee compensation cost for the period was approximately HKD 11,196,000, compared to HKD 24,480,000 for the six months ended September 30, 2024[25]. - Employee expenses, including directors' remuneration, decreased to HKD 11,196,000 from HKD 24,480,000, reflecting a reduction of 54.4%[65]. - The financing costs for the six months ended September 30, 2025, totaled HKD 1,662,000, down 52.8% from HKD 3,520,000 in the same period of 2024[67]. - The remuneration for directors and key management personnel for the six months ended September 30, 2025, was approximately HKD 3,096,000, a decrease from HKD 3,439,000 for the same period last year[92]. Projects and Opportunities - The group had five ongoing projects with a total contract value of approximately HKD 227,126,000, and was awarded a new project worth about HKD 360,203,000 after the period ended[9]. - The company anticipates that government-led infrastructure projects will drive demand for construction and foundation engineering in the coming years[10]. - The board believes the company is well-positioned to seize new project opportunities in a favorable policy environment despite current challenges[10]. - The company will continue to monitor market developments and assess potential business opportunities with a prudent approach[10]. - The group faced challenges due to geopolitical tensions, trade disruptions, and inflationary pressures affecting economic growth[10]. Financial Position - As of September 30, 2025, the group's bank balance was approximately HKD 13,128,000, showing a slight increase from HKD 13,108,000 as of March 31, 2025[19]. - The group's interest-bearing debt decreased to approximately HKD 65,705,000 from HKD 69,485,000 as of March 31, 2025, resulting in a reduction of the debt-to-equity ratio to about 38.2% from 40.5%[19]. - The company’s total assets less current liabilities amounted to HKD 172,835,000 as of September 30, 2025[48]. - The net asset value of the company was HKD 171,905,000, slightly up from HKD 171,732,000 as of March 31, 2025[48]. - The total amount of trade receivables aged over 90 days was HKD 8,583,000 as of September 30, 2025, compared to HKD 15,896,000 as of March 31, 2025, indicating a significant reduction[81]. - The company’s total financial liabilities amounted to HKD 99,297,000 as of September 30, 2025, slightly down from HKD 99,647,000 as of March 31, 2025[90]. Cash Flow and Liquidity - For the six months ended September 30, 2025, the net cash generated from operating activities was HKD 5,444,000, a significant decrease of 87.1% compared to HKD 42,381,000 for the same period in 2024[51]. - The total cash and cash equivalents at the end of the period increased slightly to HKD 13,128,000 from HKD 13,108,000 at the beginning of the period, indicating a minimal growth of 0.15%[51]. - The company has not recognized any impairment losses on contract assets for the six months ended September 30, 2025, with a provision of HKD 1,332,000 for the period[76]. - The expected recoverable amount of contract assets exceeding one year is approximately HKD 32,373,000 as of September 30, 2025[78]. Shareholder Information - The major shareholder, Mr. Chen Liwei, holds 495,000,000 shares, representing 72.29% of the company's equity[28]. - The total number of share options available for grant under the share option scheme is capped at 10% of the total issued shares at the time of listing[36]. - The company has not granted, exercised, cancelled, or lapsed any share options since the adoption of the share option scheme[36]. - The company did not incur any capital expenditure on property, plant, and equipment for the six months ended September 30, 2025, while it recorded approximately HKD 930,000 in capital expenditure for the same period in 2024[73]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[71]. Market and Economic Conditions - The group did not enter into any derivative contracts to hedge foreign exchange risks, as the majority of transactions are conducted in HKD, minimizing exposure[21]. - There were no major investments or acquisitions during the period, and no future plans for significant investments or capital assets were disclosed[22][23][24]. - The company has not reported any significant new product developments or market expansions during this period[52]. - There were no acquisitions or mergers reported in the financial statements for the six months ended September 30, 2025[52].
上谕集团(01633) - 2026 - 中期业绩