Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 52,590,000, representing a 29% increase from HKD 40,768,000 in the same period of 2024[3]. - Gross profit for the same period was HKD 13,508,000, up from HKD 5,851,000, indicating a significant improvement in profitability[3]. - The net profit attributable to the company's owners for the six months was HKD 2,483,000, compared to a loss of HKD 8,199,000 in the previous year[3]. - Operating cash flow for the six months was HKD 19,451,000, a substantial increase from HKD 5,243,000 in the prior year[9]. - The company achieved a total comprehensive income of approximately HKD 2.5 million for the six months ending September 30, 2025, compared to a loss of about HKD 8.2 million for the same period in 2024[43]. - The company's basic earnings per share for the six months ended September 30, 2025, was HKD 0.66, while it was a loss of HKD 2.18 for the same period in 2024[24]. Assets and Liabilities - Current assets decreased to HKD 35,425,000 from HKD 43,082,000, primarily due to a reduction in trade receivables[5]. - Total liabilities decreased to HKD 31,842,000 from HKD 42,660,000, reflecting improved financial stability[5]. - Non-current assets increased slightly to HKD 139,324,000 from HKD 139,080,000, showing stability in long-term investments[5]. - Trade receivables as of September 30, 2025, amounted to HKD 20,082,000, down from HKD 30,988,000 as of March 31, 2025, indicating a decrease in outstanding customer payments[28]. - The total trade and other payables as of September 30, 2025, were HKD 12,458,000, a slight increase from HKD 10,366,000 as of March 31, 2025, indicating a rise in liabilities[30]. Cash Flow and Financial Position - The company's cash and cash equivalents increased to HKD 17,131,000 from HKD 12,372,000, indicating a positive cash flow position[9]. - Cash and cash equivalents amounted to approximately HKD 17.1 million as of September 30, 2025, up from about HKD 12.4 million as of March 31, 2025[44]. - The company's debt-to-equity ratio was approximately 51.0% as of September 30, 2025, down from 56.9% as of March 31, 2025[44]. Operational Focus - The company continues to focus on providing construction equipment leasing services and trading of equipment and parts, indicating a commitment to its core business operations[10]. - The company continues to focus on providing construction equipment leasing services, including tower cranes and generators, as well as related services such as installation and maintenance[33]. - The company has acquired new motors and other necessary components to replace old temporary cranes, diversifying revenue sources and capturing market demand for tower crane rental services[67]. - The company retained two general technicians and one sales manager to support the operations of its tower crane rental business[67]. Employee and Governance - The company incurred employee costs of HKD 12,230,000 for the six months ended September 30, 2025, down from HKD 13,245,000 in 2024, reflecting a reduction in workforce expenses[17]. - The employee costs have decreased primarily due to a reduction in director remuneration during the reporting period[53]. - The company regularly conducts employee evaluations to assess performance and ensure competitive compensation[53]. - The board of directors believes that having Mr. Tang Hing Keung serve as both Chairman and CEO is beneficial for the group's operations and management[59]. - The company has maintained compliance with all corporate governance code provisions as of September 30, 2025, except for the separation of the roles of Chairman and CEO[61]. - Mr. Tang Hing Keung will step down as Chairman and CEO effective November 26, 2025, with Mr. Tang Ming Hei being promoted to these positions[60]. Risks and Compliance - The company faced foreign currency risks primarily from transactions denominated in currencies other than its functional currency, including RMB, EUR, and USD[49]. - The audit committee has reviewed the interim financial statements for the six months ending September 30, 2025, and confirmed compliance with applicable accounting standards and GEM listing rules[70]. - The company has adopted the trading standards for securities transactions as per GEM listing rules, and all directors confirmed compliance during the reporting period[65]. - There are various risks and uncertainties that may affect the company's financial condition, operating performance, and business outlook[68]. - The company has not disclosed any significant events that require disclosure after September 30, 2025, up to the report date[69]. Shareholding and Options - The group has a shareholding structure where Mr. Tang Hing Keung and Ms. Au Fung Yi hold 90% and 10% of the investment holding company, Hing Kee Limited, which owns approximately 31.9% of the company[54]. - Mr. Tang Hing Keung holds a beneficial interest in 120,000,000 shares, representing 31.9% of the total issued shares[57]. - Mr. Tang Ming Hei holds a beneficial interest in 128,132,000 shares, representing 34.1% of the total issued shares[54]. - The company has adopted a share option scheme to reward participants for their contributions to the group[53]. - The company has not granted any stock options since the adoption of the stock option plan, resulting in no unexercised stock options as of April 1, 2025, and September 30, 2025, with a total of 40,000,000 options available for grant[62]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or any member of the group during the six months ending September 30, 2025[64].
兴铭控股(08425) - 2026 - 中期财报