Revenue Performance - For the six months ended September 30, 2025, the Group's total revenue decreased by approximately 3.4% to HK$173,151,000 from HK$179,187,000 in the corresponding period last year[17] - The decrease in revenue was primarily due to the completion of significant long-term contracts and a decline in demand for vessel chartering and related services[17] - Revenue from marine construction services increased due to improved construction progress on key projects during the Period[17] - The Group expects demand for vessel chartering services to diminish gradually as high-profile marine construction projects reach completion[11] - Revenue for the six months ended September 30, 2025, was HK$173,151,000, a decrease of 3% from HK$179,187,000 in the same period of 2024[125] - Revenue from vessel chartering and related services decreased to HK$52,176,000 from HK$75,995,000, representing a decline of approximately 31.4%[167] - Revenue from marine construction services increased significantly to HK$107,487,000 from HK$89,923,000, marking an increase of about 19.4%[167] Profitability - Gross profit increased by approximately 4.4%, from HK$48,564,000 for the corresponding period last year to HK$50,713,000 for the Period[23] - The gross profit margin increased by approximately 2.2 percentage points from approximately 27.1% for the corresponding period last year to approximately 29.3% for the Period[23] - Profit attributable to owners of the Company increased by approximately 35.4%, from HK$10,531,000 for the corresponding period last year to HK$14,255,000 for the Period[35] - Basic earnings per share attributable to owners of the Company increased from approximately HK1.05 cent for the corresponding period last year to approximately HK1.43 cent for the Period[40] - Total comprehensive income for the period was HK$20,445,000, up from HK$16,993,000, reflecting a growth of 20.5%[125] - Profit for the period attributable to owners of the Company was HK$14,255,000, representing a 35.5% increase compared to HK$10,531,000 in the previous year[125] Financial Position - The Group's net current assets increased from HK$167,793,000 as at 31 March 2025 to HK$183,164,000 as at 30 September 2025[38] - The current ratio increased from approximately 2.5 as at 31 March 2025 to approximately 2.7 as at 30 September 2025[38] - The gearing ratio decreased from 2.40% at 31 March 2025 to 2.16% at 30 September 2025[39] - The Group's trade and other receivables decreased from HK$84,756,000 as at 31 March 2025 to HK$80,495,000 as at 30 September 2025[37] - Non-current assets decreased to HK$148,145,000 from HK$158,235,000, a decline of 6.4%[126] - Current assets increased to HK$288,481,000, up from HK$282,270,000, showing a growth of 2.4%[126] - Current liabilities decreased to HK$105,317,000 from HK$114,477,000, a reduction of 8%[126] - Net current assets increased to HK$183,164,000 as of 30 September 2025, up from HK$167,793,000 at 31 March 2025, representing a growth of 9.2%[128] - Total assets less current liabilities rose to HK$331,309,000, compared to HK$326,028,000 at the end of March 2025, indicating a 1.0% increase[128] - Net assets reached HK$314,353,000, an increase of 2.5% from HK$307,828,000 as of 31 March 2025[128] Cash Flow - Net cash from operating activities was HK$19,964,000 for the six months ended 30 September 2025, a significant improvement from a cash outflow of HK$11,990,000 in the prior year[133] - Cash used in investing activities totaled HK$6,977,000, a decrease from cash inflow of HK$13,536,000 in the same period last year[133] - The Group reported a net cash used in financing activities of HK$17,258,000, an improvement from HK$28,880,000 in the previous year[133] - The net decrease in cash and cash equivalents for the six months ended 30 September 2025 was HK$4,271,000, compared to a decrease of HK$27,334,000 for the same period in 2024[134] - Cash and cash equivalents at the end of the period were HK$69,301,000, an increase from HK$49,243,000 at the end of the previous period[134] Corporate Governance - The Company is committed to high corporate governance standards to safeguard shareholder interests and enhance corporate value[114] - The Company has maintained compliance with the Corporate Governance Code, except for the separation of the roles of chairman and CEO[115] - The Audit Committee, comprising three independent non-executive Directors, reviewed the financial statements and internal controls for the period[118] Shareholder Information - As of September 30, 2025, the company has a total of 560,114,750 shares held by Kitling Investments (BVI) Limited, representing 56.00% of the shareholding[87] - Directors Wen Tsz Kit Bondy and Chan Sau Ling Amy each have an interest in the same 560,114,750 shares, also accounting for 56.00% of the shareholding[94] - The share capital of Kitling (BVI) is beneficially owned by Mr. Wen and Ms. Chan as to 70% and 30% respectively[95] - There were no other interests or short positions of the Directors in the shares or underlying shares of the Company as of September 30, 2025[89] - The Company was successfully listed on the Main Board of the Stock Exchange on 18 March 2019, with net proceeds from the listing amounting to approximately HK$65.6 million[110] - As of 30 September 2025, a total of HK$43.6 million of the net proceeds had been utilized according to the allocation set out in the Company's announcement[110] Segment Information - The Group's operating segments include vessel chartering, ship management, and marine construction services, focusing on resource allocation and performance assessment[144] - The segment profit for the vessel chartering services was HK$25,793,000, ship management services was HK$6,655,000, and marine construction services was HK$17,952,000, totaling HK$50,400,000[150] - The Group's inter-segment revenue was HK$10,406,000, with total segment revenues amounting to HK$173,151,000[150] Other Financial Information - The Group incurred no capital expenditure during the six months ended September 30, 2025, compared to HK$3,110,000 in 2024[57] - No significant investments, acquisitions, or disposals of subsidiaries were made during the period[53] - As of September 30, 2025, there were no significant capital commitments[55] - The Group has not been awarded any tenancy for the shipyard sites tendered, but will continue to seek suitable opportunities[113]
润利海事(02682) - 2026 - 中期财报