Revenue and Financial Performance - K. H. Group Holdings Limited recorded a revenue of approximately HK$28,320,000 for the six months ended 30 September 2025, a 39.8 times increase from approximately HK$694,000 during the same period in 2024[24]. - The primary revenue during the Period was generated from construction services and Chemical Business in Mainland China amounting to HK$28,320,000, a significant increase from HK$694,000 in the Comparative Period[25]. - Revenue from the Changzhou Yonghong Group's NMP solution business was approximately HK$9,242,000 during the Period[21]. - For the six months ended September 30, 2025, the revenue from the provision of foundation and construction services was HK$19,078,000, while the revenue from the production and sales of chemical products was HK$9,242,000, compared to HK$694,000 in the same period of 2024[143]. - The Group recorded a net profit of approximately HK$152,133,000 during the Period, compared to a net loss of approximately HK$44,825,000 in the Comparative Period, mainly attributable to the gain from the deconsolidation of subsidiary KHF[33]. - The Group achieved a total comprehensive income of approximately HK$153,622,000 during the Period, a turnaround from a total comprehensive loss of HK$44,388,000 in the Comparative Period[34]. - The profit before tax for the six months ended September 30, 2025, was HK$152,173,000, compared to a loss of HK$44,825,000 in the same period of 2024[140]. - The Group reported a total comprehensive income of HK$153,622,000 for the six months ended 30 September 2025, a significant recovery from a loss of HK$44,388,000 in the previous period[107]. Operational Changes and Business Focus - The Group's focus has shifted entirely to the construction services and chemical business in Mainland China following the winding-up of K. H. Foundations Limited[15][17]. - The foundation business in Hong Kong ceased operations on 22 July 2025, leading to no revenue from foundation projects during the Period[15][18]. - The Group established strategic cooperative relationships with multiple important customers in the hazardous waste neutralization and recycling sectors during the Period[21]. - The Group completed the acquisition of 100% equity interests of Changzhou Yonghong Group, which has an annual capacity of 60,000 tons for NMP recycling, marking a significant step in expanding its business scope into the new chemical materials sector[39]. - The Group has ceased all foundation and construction service activities in Hong Kong, classifying this segment as discontinued operations[130]. Expenses and Profitability - Overall gross profit increased 17.4 times from approximately HK$94,000 during the Comparative Period to approximately HK$1,730,000 during the Period, while the gross profit margin decreased from approximately 13.5% to approximately 6.1%[26]. - Administrative and other operating expenses rose by 161.3% from approximately HK$3,313,000 to approximately HK$8,657,000, primarily due to the addition of the Chemical Business[27]. - The loss from operations increased to HK$5,471,000 from HK$3,219,000 year-over-year, reflecting a deterioration of 70%[100]. - The total costs of inventory recognized increased to HK$7,070,000 for the six months ended 30 September 2025, from HK$600,000 in the same period of 2024[155]. - The gross loss for the period was HK$0, compared to a gross loss of HK$11,008,000 in the previous year, reflecting a significant improvement[199]. Cash Flow and Financial Position - As of September 30, 2025, the total debts of the Group were approximately HK$50,528,000, a decrease from HK$54,061,000 as of 31 March 2025[43]. - The Group's cash and bank balances amounted to HK$2,608,000, a decrease from approximately HK$48,481,000 as of March 31, 2025[52]. - The net cash from operating activities for the six months ended 30 September 2025 is HK$27,532,000, compared to a cash outflow of HK$12,463,000 for the same period in 2024[108]. - Cash and cash equivalents at the end of the period decreased to HK$2,608,000 from HK$71,738,000 at the end of the previous period[108]. - The Group's net current liabilities amounted to approximately HK$46,739,000 as of 30 September 2025, indicating material uncertainty regarding its ability to continue as a going concern[116]. Shareholder Information and Governance - The Group's interim report will be available on the Hong Kong Stock Exchange and the company's website for shareholders[3]. - The Board does not recommend the payment of an interim dividend to shareholders for the period[73]. - The Company did not declare an interim dividend for the period[77]. - The Company has adopted the Model Code for Securities Transactions by Directors, with all Directors confirming compliance throughout the period[81]. - The Audit Committee, comprising three Independent Non-executive Directors, reviewed the condensed consolidated interim financial information for the period[94]. Employee and Management Information - The total staff costs incurred by the Group during the period were approximately HK$6,294,000, a decrease from approximately HK$20,874,000 in the comparative period[70]. - The Group had 58 employees as of September 30, 2025, down from 63 employees as of March 31, 2025[70]. - Total compensation paid to key management personnel for the six months ended 30 September 2025 was HK$518,000, a decrease from HK$896,000 for the same period in 2024[193]. Discontinued Operations - The company ceased to have control over its wholly-owned subsidiary KHF on 22 July 2025, which has been classified as a discontinued operation[195]. - For the six months ended 30 September 2025, KHF reported a revenue of HK$0, compared to HK$74,374,000 for the same period in 2024, indicating a decline of 100%[199]. - The loss before tax from discontinued operations was HK$4,653,000, a substantial decrease from HK$41,568,000 in the prior year, representing an improvement of about 88.8%[199]. - A gain on deconsolidation of KHF was recognized amounting to HK$162,297,000, contributing positively to the profit for the period[199]. - The profit for the period from discontinued operations was HK$157,644,000, compared to a loss of HK$41,568,000 in the previous year, marking a turnaround[199].
剑虹集团控股(01557) - 2026 - 中期业绩