Financial Performance - The group's revenue for the six months ended September 30, 2025, was approximately HKD 83.7 million, a decrease of about 29.1% compared to HKD 118.0 million in the same period of 2024[8]. - Profit attributable to owners of the company for the period was approximately HKD 4.3 million, compared to HKD 4.7 million in 2024[8]. - Basic earnings per share for the period was approximately HKD 5.05, down from HKD 5.44 (restated) in 2024[9]. - The group's gross profit for the period was HKD 18.1 million, compared to HKD 19.4 million in the previous year[9]. - Operating profit for the period was HKD 7.0 million, an increase from HKD 6.5 million in 2024[9]. - The company recorded a total comprehensive income of HKD 4,341,000 for the six months ended September 30, 2025, compared to HKD 4,683,000 for the same period in 2024, showing a decrease of 7.3%[12]. - For the six months ended September 30, 2025, the company reported a pre-tax profit of approximately HKD 4,341,000, a decrease from HKD 4,683,000 in the same period of 2024, reflecting a decline of about 7.3%[29]. - The company’s total revenue from customer projects for 2025 was HKD 22,157,000 from Customer 1, down from HKD 51,605,000 in 2024, indicating a significant decrease of approximately 57.1%[24]. - Interest income for the six months ended September 30, 2025, was HKD 2,000, a decrease of 71.4% compared to HKD 7,000 in 2024[25]. - The company reported total payables of HKD 60,820,000 as of September 30, 2025, up from HKD 40,861,000 as of March 31, 2025, reflecting an increase of about 48.9%[33]. Cash Flow and Assets - For the six months ended September 30, 2025, the company reported a net cash outflow from operating activities of HKD (5,453,000), compared to HKD (731,000) for the same period in 2024, indicating a significant increase in cash outflow[14]. - The net cash and cash equivalents decreased to HKD 9,010,000 as of September 30, 2025, down from HKD 9,305,000 at the end of the same period in 2024[14]. - The company's total equity as of September 30, 2025, was HKD 56.1 million, up from HKD 51.7 million as of March 31, 2025[11]. - Total assets less current liabilities as of September 30, 2025, amounted to HKD 60.1 million, compared to HKD 56.2 million as of March 31, 2025[11]. - Current liabilities increased to HKD 134.0 million from HKD 104.9 million as of March 31, 2025[10]. - The total accounts receivable as of September 30, 2025, was HKD 30,761,000, a significant increase from HKD 16,534,000 as of March 31, 2025, representing an increase of approximately 85.5%[32]. Operational Highlights - The company continues to engage in construction and renovation services, with a strategic focus on improving operational efficiency amidst declining revenues[18][19]. - The revenue from renovation projects significantly dropped to HKD 3,940,000 in 2025 from HKD 29,514,000 in 2024, reflecting a decline of 86.7%[18][21]. - Revenue from refurbishment projects for the six months ended September 30, 2025, was approximately HKD 3.9 million, a significant decrease of about 86.7% compared to approximately HKD 29.5 million in the same period of 2024[37]. - The gross profit margin for the renovation segment was 16.8% in 2025, down from 2.9% in 2024, reflecting challenges in maintaining profitability[20][21]. - The company aims to expand its business in the public sector due to anticipated growth in land supply, which is expected to create ongoing opportunities[42]. Shareholder Information - The board of directors did not recommend any dividend payment for the period[8]. - The company did not declare any dividends for the period, consistent with the previous year[28]. - The company plans to conduct a rights issue at a subscription price of HKD 0.110 per share, with the proposal approved by shareholders on November 10, 2025[34]. - The company announced a proposed rights issue on September 4, 2025, offering 160,000,000 shares at a subscription price of HKD 0.110 per share, with estimated net proceeds of approximately HKD 16.4 million[85]. - The net proceeds from the rights issue will be allocated as follows: HKD 13.7 million for participating in contract service projects requiring financial resources, and approximately HKD 2.7 million for general working capital[85]. Governance and Compliance - The audit and risk management committee, chaired by an independent non-executive director, has reviewed the company's financial reporting and internal controls[89]. - The company has adhered to the corporate governance code as per GEM Listing Rules, with a noted deviation regarding the roles of the chairman and CEO being held by the same individual[88]. - The financial information presented in the report has not been audited, and the directors have confirmed their responsibility for the preparation of the financial statements[84]. - The company has confirmed compliance with the GEM Listing Rules regarding securities trading by directors during the reporting period[78]. - There were no significant events occurring after the reporting period that would impact the financial statements[87]. Employee and Cost Management - The total employee costs for the six months ended September 30, 2025, were HKD 9,659,000, down from HKD 11,496,000 in 2024, indicating a decrease of approximately 15.9%[27]. - Administrative expenses for the six months ended September 30, 2025, were approximately HKD 11.4 million, down about 15.5% from approximately HKD 13.4 million in the same period of 2024, primarily due to increased use of AI tools[40]. - The company incurred financing costs totaling HKD 2,025,000 for the six months ended September 30, 2025, an increase of approximately 13.1% from HKD 1,790,000 in 2024[26]. Share Option Scheme - The company has adopted a share option scheme on September 30, 2019, allowing for the issuance of options not exceeding 10% of the total issued shares[63][66]. - A total of 8,000,000 share options were granted on August 15, 2022, and no options are available for grant as of September 30, 2025[66]. - The remaining validity period of the share option scheme is approximately 3 years and 10 months as of the report date[67]. - The maximum allocation of options to each participant in any 12-month period cannot exceed 1% of the total issued shares[68]. - The share option scheme will remain effective for a period of 10 years until September 29, 2029[69]. - The company may terminate the share option scheme at any time by resolution at a shareholders' meeting, with unexercised options remaining valid[75]. - The company has granted a total of 8,000,000 share options to directors and employees, with an exercise price of HKD 0.447 per share, all of which remain unexercised as of the reporting date[77].
艾硕控股(08341) - 2026 - 中期业绩