Financial Performance - Revenue for the six months ended 30 September 2025 was approximately HK$270.9 million, representing a decrease of approximately 5% compared to the corresponding period in 2024[9]. - Gross profit for the same period was approximately HK$42.4 million, reflecting a decrease of approximately 16% compared to the prior year[9]. - The loss attributable to owners of the Company for the period was approximately HK$29.3 million, an increase of approximately 537% compared to the same period in 2024[9]. - Loss per share for the period was HK Cents 2.6, compared to HK Cents 0.40 in 2024[9]. - Total comprehensive loss for the period was approximately HK$28,402,000, compared to a loss of HK$3,699,000 in the previous period[18]. - The Group reported a total comprehensive expense for the period of approximately HK$29.2 million, compared to HK$3.68 million in 2024[13]. - The Group's reportable segment loss for the six months ended September 30, 2025, was HK$27,589,000, compared to a profit of HK$4,000 in the same period of 2024[45]. Revenue Breakdown - Revenue from property management and related services was HK$270,908,000, down from HK$284,369,000, reflecting a decline of 4.7%[32]. - Revenue from Hong Kong was HK$265,171,000, a decrease of 3.7% compared to HK$275,361,000 in 2024[33]. - Revenue from the People's Republic of China (PRC) dropped to HK$5,737,000, down 36.5% from HK$9,008,000 in the previous year[33]. - Revenue from property management services contracts decreased by approximately 3.8% to approximately HK$243.7 million for the six months ended 30 September 2025[86]. - Revenue from stand-alone security services contracts was approximately HK$27.2 million for the six months ended 30 September 2025, representing approximately 10.0% of total revenue[81]. - The group did not report any rental income from investment properties during the period, compared to HK$802,000 in 2024[32]. Expenses and Costs - Administrative expenses increased to approximately HK$59.6 million, up from HK$39.9 million in the corresponding period of 2024[12]. - Loss from operations for the period was approximately HK$30.5 million, compared to a loss of HK$3.97 million in the same period last year[12]. - Other operating expenses decreased by approximately 8.8% to HK$14.5 million for the six months ended 30 September 2025, compared to HK$15.9 million in 2024[92][95]. - Staff costs for the six months ended September 30, 2025, amounted to HK$231,647,000, an increase from HK$227,747,000 in the same period of 2024[49]. - Depreciation of property, plant, and equipment for the six months ended September 30, 2025, was HK$7,037,000, compared to HK$5,895,000 in the same period of 2024[49]. Assets and Liabilities - As of September 30, 2025, total assets less current liabilities amounted to HK$170,154,000, a decrease from HK$197,941,000 as of March 31, 2025, representing a decline of approximately 14%[15]. - Net current assets decreased to HK$66,875,000 from HK$97,720,000, indicating a reduction of about 32%[15]. - Total assets as of September 30, 2025, were HK$240,363,000, down from HK$270,731,000 as of March 31, 2025[45]. - Total liabilities as of September 30, 2025, were HK$72,500,000, a slight decrease from HK$73,661,000 as of March 31, 2025[45]. - Current liabilities decreased slightly to HK$70,209,000 from HK$72,790,000, a reduction of about 4%[15]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended September 30, 2025, was HK$15,429,000, a significant improvement compared to a cash outflow of HK$6,803,000 in the same period of 2024[20]. - Cash and cash equivalents at the end of the period increased to HK$38,596,000 from HK$30,764,000, reflecting a rise of approximately 25%[20]. - The group’s total debt, including bank and other loans and lease liabilities, was approximately HK$4 million as of September 30, 2025, down from HK$5.8 million as of March 31, 2025[114]. - The group’s gearing ratio as of September 30, 2025, was approximately 2.4%, a decrease from 2.9% as of March 31, 2025[125]. Corporate Governance - The company has complied with all Corporate Governance Code provisions except for the separation of roles between the chairman and chief executive, which has not been established since there has been no CEO since September 8, 2015[143][144][147]. - The board emphasizes its commitment to strengthening the governance framework and ensuring compliance with GEM Listing Rules in all transactions and disclosures[151]. - The company acknowledges the importance of strict adherence to GEM Listing Rules and regrets the oversights that led to delays in disclosure[149][154]. - The board believes that the current arrangement without a CEO is adequate for effective management and control of the company's operations[144][146]. Share Award Plan - The Share Award Plan was adopted on August 6, 2021, to recognize and reward contributions from eligible participants[169]. - The total maximum number of shares that may be awarded under the Share Award Plan is capped at 10% of the shares in issue, which amounts to 102,635,151 shares based on 1,026,351,515 shares in issue at the adoption date[182]. - For the six months ended 30 September 2025, there were no Awards granted under the Plan, and no Awards were vested, cancelled, or lapsed during this period[198]. - The Share Award Plan aims to attract suitable personnel for the Group's development and retain existing employees[170].
港深智能管理(08181) - 2026 - 中期财报