Financial Performance - For the six months ended September 30, 2025, the company reported total revenue of HKD 203,573,000, a significant increase from HKD 93,150,000 in the same period of 2024, representing a growth of approximately 118%[4] - The gross profit for the same period was HKD 860,000, compared to HKD 1,140,000 in 2024, indicating a decrease of about 24.6%[4] - The company incurred a loss before tax of HKD 3,533,000 for the six months ended September 30, 2025, compared to a loss of HKD 3,017,000 in the previous year, reflecting a deterioration in performance[4] - The net loss attributable to shareholders for the period was HKD 3,546,000, compared to HKD 3,001,000 in 2024, marking an increase in losses of approximately 18.2%[4] - Revenue for the six months ended September 30, 2025, was HKD 93,150,000, a decrease of 54.3% compared to HKD 203,573,000 for the same period in 2024[12] - For the six-month period ending September 30, 2025, the group recorded a net loss of approximately HKD 3.0 million, compared to a net loss of approximately HKD 3.5 million for the same period in 2024, indicating a slight improvement[29][37] - Revenue for the six-month period ending September 30, 2025, was approximately HKD 93.2 million, a decrease of about 54.2% compared to HKD 203.5 million for the same period in 2024, primarily due to project completions and competitive pricing pressures[32] - Gross profit for the six-month period ending September 30, 2025, was approximately HKD 1.1 million, an increase of about 22.2% from HKD 0.9 million for the same period in 2024, with a gross margin of approximately 1.2% compared to 0.4% in 2024[33] Cash Flow and Assets - The company's cash and cash equivalents decreased to HKD 11,814,000 as of September 30, 2025, down from HKD 12,965,000 at the end of March 2025, a decline of about 8.8%[7] - Total assets less current liabilities stood at HKD 75,372,000 as of September 30, 2025, compared to HKD 78,205,000 as of March 31, 2025, indicating a decrease of approximately 3.6%[5] - The company reported a net cash outflow from operating activities of HKD 1,055,000 for the six months ended September 30, 2025, compared to HKD 12,804,000 in the same period of 2024, showing an improvement in cash flow management[7] - The company's non-current assets totaled HKD 1,847,000 as of September 30, 2025, an increase from HKD 1,626,000 as of March 31, 2025, representing a growth of approximately 13.5%[5] - Trade receivables as of September 30, 2025, amounted to HKD 14,615,000, a decrease from HKD 17,656,000 as of March 31, 2025[22] - Trade payables as of September 30, 2025, totaled HKD 17,195,000, an increase from HKD 13,160,000 as of March 31, 2025[24] Shareholder and Equity Information - The company’s equity attributable to shareholders decreased to HKD 74,596,000 as of September 30, 2025, down from HKD 77,597,000 at the end of March 2025, a decline of about 3.9%[6] - Major shareholders include Gao Di with 105,000,000 shares, representing 37.99% of the company[61] - Wang Wei and Sun Yiyun each hold 20,940,000 shares, accounting for 7.57% of the company[61] - Che Wenlong holds 14,200,000 shares, which is 5.13% of the company[61] Operational Highlights - The company continues to focus on providing masonry engineering services, with no new product launches or significant market expansion strategies disclosed in the report[8] - The group plans to implement more cautious project selection and will choose established contractors and reputable business partners to ensure project stability and healthy receivables[29] - The group aims to enhance operational efficiency and profitability while expanding its machinery and equipment to improve technical capabilities for future project bids[30] - The group is exploring opportunities to expand its core business beyond the Hong Kong market to strengthen its revenue base and diversify its operations[31] Corporate Governance and Compliance - The audit committee consists of three independent non-executive directors and has reviewed the unaudited financial results for the six months ending September 30, 2025[69] - The company has complied with corporate governance codes since its listing date[68] - No conflicts of interest or competition with the group's business were reported among directors or major shareholders[64] - The company has confirmed compliance with the GEM listing rules regarding securities trading by directors[63] Employee and Cost Management - Total employee costs for the six months ended September 30, 2025, amounted to approximately HKD 8.1 million, a decrease from HKD 10.2 million for the same period in 2024[55] - The group employed 43 full-time employees in Hong Kong as of September 30, 2025, down from 51 employees in the previous year[55] - Administrative and other operating expenses decreased by approximately HKD 0.3 million or 6.7% to approximately HKD 4.2 million for the six-month period ending September 30, 2025, primarily due to reduced employee costs[35] Financing and Investments - The company entered into a new lease agreement for a warehouse with a total recognized right-of-use asset and lease liability of approximately HKD 564,000[21] - The company has not made any acquisitions or significant investments in property, plant, and equipment during the six months ended September 30, 2025[21] - The group had no significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures as of September 30, 2025[47] - There were no capital expenditures reported for the six months ended September 30, 2025, remaining at zero as in the previous period[51] - The group has no significant contingent liabilities as of September 30, 2025[52] - The group has no significant capital commitments as of September 30, 2025[53] Market and Risk Management - The group continues to manage its bank balances and maintain healthy liquidity to seize future growth opportunities[46] - The group has no major foreign exchange risk as most transactions are denominated in HKD[49] - The company has not purchased, sold, or redeemed any of its listed securities in the past six months[65] - The company has adopted a share option scheme since September 14, 2017, with 12,000,000 options available as of both March 31, 2025, and September 30, 2025, representing approximately 4.34% of issued shares[67] Dividend and Financial Reporting - The company did not declare or recommend any dividend for the six months ended September 30, 2025[20] - The mid-term results announcement and report are available on the Hong Kong Stock Exchange and the company's website[70]
怡康泰工程集团(08445) - 2026 - 中期业绩