Financial Performance - For the six months ended September 30, 2025, the group recorded revenue of approximately HKD 315.6 million, a decrease of about HKD 64.1 million or 16.9% compared to HKD 379.7 million for the same period in 2024[10]. - The group reported a gross profit of approximately HKD 2.0 million, a significant decrease of about HKD 22.7 million or 91.9% compared to HKD 24.7 million for the same period in 2024, resulting in a gross profit margin of approximately 0.6%[11]. - The net loss attributable to the company's owners for the reporting period was approximately HKD 12.9 million, compared to a net profit of approximately HKD 4.6 million for the six months ended September 30, 2024[16]. - Revenue for the six months ended September 30, 2025, was HKD 326,183,000, a decrease of 17.7% compared to HKD 396,854,000 for the same period in 2024[39]. - Gross profit for the same period was HKD 1,953,000, down from HKD 24,669,000, indicating a significant decline in profitability[39]. - The company reported a loss before tax of HKD 16,485,000, compared to a profit of HKD 6,101,000 in the previous year[39]. - The net loss for the period was HKD 12,924,000, compared to a profit of HKD 4,574,000 in the prior year[39]. - Basic and diluted loss per share was HKD 1.4 cents, compared to earnings of HKD 0.5 cents per share in the previous year[39]. Project and Contract Activity - The group completed 15 projects with a total original contract value of approximately HKD 279.1 million during the reporting period, while 23 new contracts were awarded with a total original contract value of approximately HKD 357.6 million[8]. - The total amount of transaction prices allocated to unsatisfied performance obligations as of September 30, 2025, was approximately HKD 658.6 million, compared to HKD 509.8 million as of September 30, 2024[8]. - The group aims to enhance project management effectiveness and implement strict cost control measures in response to increasing economic pressures and competition in the foundation and site preparation engineering sector[7]. - The group is actively seeking opportunities to expand its scope of work in the construction industry, with aspirations to become a general contractor for foundation engineering in the future[6]. Income and Expenses - Other income and gains for the reporting period reached approximately HKD 2.1 million, an increase of about HKD 0.9 million or 75.0% compared to HKD 1.2 million for the same period in 2024[12]. - Administrative expenses for the reporting period amounted to approximately HKD 19.7 million, an increase of about HKD 0.7 million or 3.7% compared to HKD 19.0 million for the same period in 2024[13]. - Financial costs for the reporting period were approximately HKD 0.9 million, an increase of about HKD 0.1 million or 12.5% compared to HKD 0.8 million for the six months ended September 30, 2024[14]. - The income tax credit for the reporting period was approximately HKD 3.6 million, while the tax expense for the six months ended September 30, 2024, was approximately HKD 1.5 million[15]. Assets and Liabilities - As of September 30, 2025, total assets were approximately HKD 272.1 million, down from approximately HKD 329.3 million as of March 31, 2025[18]. - Total liabilities as of September 30, 2025, were approximately HKD 134.4 million, a decrease from approximately HKD 194.1 million as of March 31, 2025[18]. - The company's equity attributable to owners was approximately HKD 137.7 million as of September 30, 2025, compared to approximately HKD 135.2 million as of March 31, 2025[19]. - Non-current assets decreased to HKD 64,965,000 from HKD 75,000,000 as of March 31, 2025[41]. - Current assets decreased to HKD 207,099,000 from HKD 254,335,000, reflecting a decline in contract assets and trade receivables[41]. - Current liabilities decreased to HKD 128,157,000 from HKD 184,122,000, primarily due to a reduction in trade and other payables[41]. - The group recorded a total revenue of 2,119,000 HKD from government subsidies for the six months ended September 30, 2025, compared to 1,208,000 HKD in the same period of 2024, marking a 75% increase[56]. Share Capital and Financing - The company completed a placement of up to 186,600,000 shares at a price of HKD 0.085 per share, raising approximately HKD 15.9 million in total proceeds[35]. - The net proceeds from the share placement, after deducting commissions and expenses, were approximately HKD 15.2 million[35]. - The total issued and paid-up share capital increased to 1,120,350,000 shares as of September 30, 2025, from 933,750,000 shares as of March 31, 2025, following a placement of 186,600,000 shares[79]. - The group did not obtain new bank loans during the six months ended September 30, 2025, while repaying approximately HKD 2,950,000 in bank loans[76]. - The group had unutilized borrowing facilities of HKD 40,000,000 as of September 30, 2025, down from HKD 44,327,000 as of March 31, 2025[77]. - The group's bank borrowings amounted to HKD 25,261,000 as of September 30, 2025, down from HKD 28,211,000 as of March 31, 2025[93]. Management and Governance - The group has established a risk management and internal control system, with three independent non-executive directors appointed to ensure adequate checks and balances[99]. - The group has complied with the corporate governance code, except for the separation of the roles of chairman and CEO, which are held by the same individual[99]. - The group has confirmed that all directors have complied with the standards set out in the securities trading code during the reporting period[100]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the reporting period[114]. Shareholding Structure - As of September 30, 2025, Mr. Li Zhuojin holds 484,998,000 shares, representing 43.29% of the total issued shares of the company[101]. - Ms. Zhou Wenzhen, as the spouse of Mr. Li, is also deemed to hold 484,998,000 shares, equivalent to 43.29% of the total issued shares[102]. - The company has a total of 90,000,000 share options available for grant under the share option scheme as of September 30, 2025, which accounts for approximately 10% of the total issued ordinary shares[109]. - The company has no knowledge of any other company or individual holding any interests or short positions in the company's shares that require disclosure under the Securities and Futures Ordinance as of September 30, 2025[107]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[111].
荣智控股(06080) - 2026 - 中期财报