御佳控股(03789) - 2026 - 中期业绩
ROYAL DELUXEROYAL DELUXE(HK:03789)2025-11-27 12:26

Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 347,344,000, representing a 3.5% increase from HKD 335,631,000 in the same period of 2024[2] - Gross profit for the same period was HKD 19,273,000, slightly down by 0.3% from HKD 19,326,000, resulting in a gross margin of 5.5% compared to 5.8% in 2024[2] - The profit attributable to owners of the company was HKD 3,684,000, a significant recovery from a loss of HKD 2,920,000 in the previous year[3] - The company reported a basic and diluted earnings per share of HKD 0.31, compared to a loss per share of HKD 0.24 in the previous year[3] - The company's pre-tax profit for the six months ended September 30, 2025, was HKD 3,684,000, compared to a loss of HKD 2,920,000 in 2024, indicating a turnaround in performance[23] - The profit attributable to owners of the company increased by approximately HKD 6.6 million or 226.2% from a loss of approximately HKD 2.9 million for the six months ended September 30, 2024, to a profit of approximately HKD 3.7 million for the six months ended September 30, 2025, due to increased revenue from new and existing projects[46] Cash and Liquidity - Cash and cash equivalents increased by 65.8% to HKD 80,622,000 from HKD 48,640,000 as of March 31, 2025[2] - Current ratio improved to 2.8 from 2.6, indicating better short-term financial health[2] - Trade receivables decreased to HKD 71,686,000 as of September 30, 2025, from HKD 113,262,000 as of March 31, 2025, a decline of approximately 36.7%[27] - Trade payables as of September 30, 2025, amounted to HKD 53.4 million, down from HKD 68.6 million as of March 31, 2025[31] - The aging analysis of trade payables showed that amounts due within 30 days increased from HKD 34.6 million to HKD 37.5 million[32] Operational Efficiency - Administrative and other operating expenses decreased to HKD 25,533,000 from HKD 29,308,000, reflecting improved cost management[3] - Employee benefit expenses totaled HKD 63,199,000 for the six months ended September 30, 2025, compared to HKD 43,562,000 in 2024, marking an increase of approximately 45%[18] - Other income and gains increased to HKD 10,551,000 from HKD 8,654,000, contributing positively to overall profitability[3] - Other income for the six months ended September 30, 2025, amounted to HKD 10,551,000, an increase from HKD 8,669,000 in the same period of 2024, representing a growth of approximately 21.6%[14] - The company secured four new contracts with a total value of approximately HKD 46.9 million, all of which commenced within the six months ended September 30, 2025[34] Assets and Liabilities - Total assets less current liabilities stood at HKD 315,399,000, up from HKD 311,777,000[5] - As of September 30, 2025, the total assets were approximately HKD 464.1 million, with total liabilities of approximately HKD 149.9 million and total equity of approximately HKD 314.3 million[49] - The estimated total contract balance as of September 30, 2025, was approximately HKD 779.6 million, a decrease of about HKD 150.5 million or 16.2% from HKD 930.1 million as of March 31, 2025[34] - The provision for expected credit losses on trade and other receivables decreased from approximately HKD 1.7 million for the six months ended September 30, 2024, to approximately HKD 0.9 million for the six months ended September 30, 2025, primarily due to a reduction in high credit risk customer balances of approximately HKD 17.0 million[41] Corporate Governance and Compliance - The company has complied with the corporate governance code principles and provisions during the six-month period ending September 30, 2025[80] - The audit committee, established on January 17, 2017, is responsible for reviewing financial information and overseeing internal controls and risk management systems[81] - The unaudited condensed consolidated interim financial statements for the six months ending September 30, 2025, have been reviewed by the audit committee and comply with applicable accounting standards[83] - The company has established a non-competition agreement to prevent competition with its controlling shareholders, which remains effective until September 30, 2025[73] Future Outlook and Strategy - The group anticipates that the construction industry in Hong Kong will enter an accelerated development phase, with a target of constructing 126,000 private housing units over the next decade[65] - The group plans to enhance project management efficiency and site safety by actively applying its patented formwork system and Building Information Modeling (BIM) technology[65] - The group has observed signs of recovery in the construction market, particularly in the public sector, but anticipates rising cost pressures as project volumes increase[66] - The group will continue to focus on providing high-quality and flexible formwork engineering solutions to drive development through operational efficiency and technological innovation[66] Shareholder Information - The interim report will be published on the Hong Kong Stock Exchange website and the company's website, covering the six months ending September 30, 2025[84] - The interim report will be sent to shareholders, and printed copies can be requested for free if there are difficulties accessing electronic communications[84] - The company aims to attract and retain high-quality talent through the new share option and share award plans, which are critical for long-term development and profitability[76][77] Management Changes - The group has appointed Mr. Wang Yuxuan as the new CEO effective October 23, 2025, following the resignation of Ms. Zhou Liqing[60]

ROYAL DELUXE-御佳控股(03789) - 2026 - 中期业绩 - Reportify