Revenue and Profitability - Revenue for the six months ended September 30, 2025, was HKD 20.7 million, a decrease of 7.9% compared to HKD 22.4 million for the same period in 2024[2] - Gross profit decreased by 23.9% to HKD 9.3 million from HKD 12.3 million year-on-year[2] - Loss attributable to equity shareholders was HKD 12.4 million, a 36.7% improvement from a loss of HKD 19.6 million in the previous year[2] - Basic and diluted loss per share improved to HKD 0.26 from HKD 0.41, reflecting a 36.7% reduction in loss per share[2] - Operating loss for the period was HKD 18.5 million, compared to HKD 22.8 million in the previous year[3] - Total comprehensive loss for the period was HKD 11.5 million, down from HKD 19.7 million in the previous year[4] - The total loss before tax for the six months ended September 30, 2025, was HKD 12,580,000, compared to a loss of HKD 19,679,000 for the same period in 2024[22] - The company reported a net loss of HKD 12,639,000 for the six months ended September 30, 2025, compared to a net loss of HKD 19,679,000 in the previous year[22] Revenue Breakdown by Segment - For the six months ended September 30, 2025, total revenue from customer contracts was HKD 20,660,000, a decrease of 7.8% compared to HKD 22,423,000 for the same period in 2024[15] - The segment revenue for CMDS was HKD 5,869,000, down 28.5% from HKD 8,186,000 in the previous year[19] - The logistics services segment reported revenue of HKD 1,236,000, a decrease of 9.2% from HKD 1,361,000 in the prior year[19] - Revenue from the sale of recycled paper and materials increased to HKD 13,355,000, up 10.7% from HKD 12,065,000 in the previous year[19] - Revenue from the sales of recycled paper increased by HKD 1,313,000 or 11.0% to HKD 13,275,000, driven by a 10.4% increase in sales volume[49] - CMDS service revenue decreased by HKD 2,317,000 or 28.3% to HKD 5,869,000 due to reduced income from non-paper destruction projects[50] Assets and Liabilities - Non-current assets amounted to HKD 222.5 million, slightly down from HKD 224.9 million as of March 31, 2025[5] - Current assets decreased to HKD 44.9 million from HKD 56.6 million, primarily due to a reduction in cash and bank deposits[5] - The net value of trade receivables as of September 30, 2025, was HKD 4,819,000, an increase from HKD 4,219,000 as of March 31, 2025[35] - The company had a total of HKD 5,457,000 in trade receivables as of September 30, 2025, an increase from HKD 4,857,000 as of March 31, 2025[35] - The company recognized a total impairment of HKD 638,000 against trade receivables as of both September 30, 2025, and March 31, 2025[36] - As of September 30, 2025, the company's accounts payable amounted to HKD 1,349,000, with overdue payments exceeding 120 days totaling HKD 503,000[37] - The net debt balance as of September 30, 2025, was HKD 17,900,000, an increase from HKD 7,300,000 as of March 31, 2025, with a debt-to-equity ratio of 8.6%[56] Income and Expenses - Other income increased significantly to HKD 2.675 million from HKD 0.399 million, indicating a strong growth in non-operating revenue[3] - Other income for the six months ended September 30, 2025, was HKD 2,675,000, compared to HKD 399,000 in the same period of 2024[20] - The financing income for the six months ended September 30, 2025, was HKD 328,000, a decrease from HKD 1,721,000 in the previous year[22] - The group recorded a significant decrease in corporate expenses by HKD 7,324,000 or 29.3%, primarily due to reduced depreciation and amortization expenses related to its Tseung Kwan O property[46] - Sales, distribution, administrative, and other operating expenses totaled HKD 30,500,000, a decrease of HKD 4,900,000 or 13.8% due to reduced depreciation and amortization expenses[53] - The group reported an EBITDA loss of HKD 6,800,000, slightly increasing by HKD 100,000 from the previous period's loss of HKD 6,700,000[54] Dividends and Share Options - The company did not recommend any interim dividend for the six months ended September 30, 2025[2] - The company has not declared or paid any dividends for the six months ended September 30, 2025, consistent with the previous period[41] - The company has not granted, exercised, or canceled any share options under its share option scheme since its adoption on August 30, 2023[41] Future Outlook and Strategic Plans - The company expects that the application of new IFRS standards will not have a significant impact on the consolidated financial statements in the foreseeable future[11] - The company is currently evaluating the specific impact of new IFRS standards on future consolidated financial statements[11] - The company plans to return the lease of its Tseung Kwan O headquarters to alleviate long-term financial pressure, with the move expected to enhance operational efficiency[45] - The group anticipates stable revenue sources from its high-quality CMDS services and efficient logistics fleet, with growth opportunities from the expanded regulatory scope for electronic waste recycling in Hong Kong and the mainland China market[62] Corporate Governance - The audit committee consists of three independent non-executive directors and two non-executive directors, overseeing the review of the unaudited interim results for the six months ending September 30, 2025[67] - No purchases, sales, or redemptions of the company's listed securities occurred during the six months ending September 30, 2025[68] - The interim results announcement is available on the company's website and the designated website of the Hong Kong Stock Exchange[69]
综合环保集团(00923) - 2026 - 中期业绩