Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 178,166,000, a decrease of 24.4% compared to HKD 235,785,000 for the same period in 2024[6] - Gross profit for the same period was HKD 7,353,000, down 69.4% from HKD 23,998,000 year-on-year[6] - The company reported a loss before tax of HKD 20,102,000, compared to a profit of HKD 10,385,000 in the previous year[6] - Total comprehensive loss for the period was HKD 20,139,000, contrasting with a total comprehensive income of HKD 9,010,000 in the prior year[6] - Basic loss per share was HKD 2.52, compared to earnings of HKD 1.13 per share in the same period last year[6] - The group recorded a loss attributable to owners of approximately HKD 20.1 million for the period, compared to a profit of approximately HKD 9.0 million in the previous six months, primarily due to decreased total revenue and gross profit[63] Assets and Liabilities - Non-current assets decreased to HKD 54,856,000 from HKD 65,686,000 as of March 31, 2025[7] - Current assets increased to HKD 334,945,000 from HKD 313,660,000 as of March 31, 2025[7] - Current liabilities rose to HKD 264,418,000 from HKD 233,621,000 as of March 31, 2025[7] - Total equity decreased to HKD 124,789,000 from HKD 144,928,000 as of March 31, 2025[7] - The company’s cash and cash equivalents dropped significantly to HKD 5,374,000 from HKD 25,655,000 as of March 31, 2025[7] - The total amount of trade and other payables reached HKD 156.4 million as of September 30, 2025, compared to HKD 128.0 million as of March 31, 2025[40] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2025, was HKD (16,666) thousand, compared to HKD 13,855 thousand for the same period in 2024[10] - The net cash used in investing activities for the six months ended September 30, 2025, was HKD (3,275) thousand, a significant improvement from HKD (28,031) thousand in 2024[10] - The net cash used in financing activities for the six months ended September 30, 2025, was HKD (340) thousand, compared to HKD 5,348 thousand in 2024, indicating a reduction in cash outflow[10] - The company’s cash and cash equivalents decreased to HKD 5,374 thousand at the end of September 2025, down from HKD 13,707 thousand at the end of September 2024[10] Revenue Sources - The revenue from renovation and maintenance works was HKD 121,990 thousand for the six months ended September 30, 2025, compared to HKD 78,222 thousand in 2024, indicating an increase of approximately 56%[19][20] - The group has secured 30 projects generating revenue during the reporting period, compared to 34 projects in the previous period[52] - The group obtained 8 new projects with a total original contract value of approximately HKD 127.3 million, up from 5 projects valued at HKD 56.4 million in the previous period[52] - The group's revenue decreased from approximately HKD 235.8 million to about HKD 178.2 million, a reduction of approximately HKD 57.6 million or 24.4% due to declines in mixed projects, renovation, and construction works[54] Employee Costs - The company reported a total employee cost of HKD 15,741 thousand for the six months ended September 30, 2025, down from HKD 16,186 thousand in 2024, reflecting a decrease of about 2.7%[22] - Employee costs for the group were approximately HKD 15.7 million, with a slight decrease from HKD 16.2 million for the six months ending September 30, 2024[84] Investments and Acquisitions - The group completed the acquisition of 50% of Acasa Property Limited, which owns land for redevelopment, enhancing its capacity for larger construction projects[53] - The group acquired an additional 25% equity in Acasa on January 19, 2023, bringing its total ownership to 50%[74] - The investment cost in Acasa is recorded at HKD 35,342,000, representing 9.3% of the group's total assets as of March 31, 2025[76] - The group plans to invest in the reconstruction of the Acasa property and build a new building to expand its customer base[77] Governance and Compliance - The company has established an audit committee to oversee the appointment and performance of external auditors, ensuring compliance with governance standards[98] - The company has adhered to the corporate governance code, with the roles of chairman and CEO currently held by the same individual, which the board deems appropriate for effective management[97] - No conflicts of interest were reported among directors or major shareholders during the relevant period[95] - The company has confirmed that no violations of securities trading rules occurred during the relevant period[92] Market Conditions and Future Outlook - The group anticipates continued opportunities and challenges influenced by the pace of recovery in Hong Kong, impacting the construction industry and costs[53] - The group is exploring business and investment opportunities to strengthen its revenue sources, including potential acquisitions and diversification[53]
CHI HO DEV(08423) - 2026 - 中期财报