Financial Performance - The company's loss significantly narrowed to approximately HKD 5.9 million, compared to a loss of about HKD 23.3 million in the same period last year, primarily due to a major corporate restructuring completed in March 2025[5]. - Total revenue from continuing operations for the six months ended March 31, 2025, was approximately HKD 110.4 million, down from HKD 119.6 million in the previous year[7]. - Revenue for the six months ended September 30, 2025, was HKD 110,434,000, a decrease of 7.3% compared to HKD 119,619,000 for the same period in 2024[29]. - The total comprehensive loss for the period was HKD 5,924,000, compared to a loss of HKD 23,290,000 in the prior year[30]. - Basic loss per share for the period was HKD 0.35, compared to HKD 1.25 for the same period last year[30]. - The loss before tax for the six months was HKD 5,326,000, an improvement from a loss of HKD 9,495,000 in the previous year[29]. - The company reported a loss attributable to owners of the company of HKD (6,457,000) for the six months ended September 30, 2025, compared to a loss of HKD (13,717,000) in the same period of 2024, indicating an improvement of approximately 53%[63]. Revenue Breakdown - Revenue from the construction segment increased to approximately HKD 88.4 million, up from HKD 64.2 million year-on-year, mainly driven by construction contracts in Cambodia[7]. - The trading segment recorded revenue of approximately HKD 22 million, a decrease from HKD 55.4 million in the same period last year, attributed to a decline in trading volume[7]. - For the six months ended September 30, 2025, total revenue from continuing operations was HKD 110,434,000, with construction contributing HKD 88,387,000 and trade contributing HKD 22,047,000[44]. - The company reported a total revenue from construction contracts of HKD 88,387,000 for the six months ended September 30, 2025, compared to HKD 64,227,000 in 2024, an increase of approximately 37.5%[58]. Expenses and Costs - Administrative expenses decreased to approximately HKD 7.4 million from HKD 11.6 million in the previous year, mainly due to reduced employee costs in the Hong Kong office[9]. - Administrative expenses decreased to HKD 7,353,000 from HKD 11,628,000 year-on-year, reflecting a reduction of 36.5%[29]. - The gross profit for the construction segment was approximately HKD 1.8 million, compared to HKD 0.6 million in the previous year, reflecting improved performance despite administrative and operational costs not being fully covered[8]. - The company reported other income of HKD 1,000, down from HKD 337,000 in the previous year[29]. Assets and Liabilities - As of September 30, 2025, total assets decreased to HKD 143,803,000 from HKD 172,344,000 as of March 31, 2025, representing a decline of approximately 16.5%[31]. - Current liabilities decreased to HKD 125,936,000 from HKD 152,709,000, a reduction of about 17.5%[31]. - The net asset value as of September 30, 2025, was HKD 40,989,000, down from HKD 43,069,000, indicating a decrease of approximately 4.8%[32]. - The company’s total liabilities decreased to HKD 125,936,000 from HKD 152,709,000, indicating a reduction of approximately 17.5%[31]. - As of September 30, 2025, total reportable segment assets were HKD 134,826,000, with construction assets at HKD 132,341,000 and trade assets at HKD 2,485,000[48]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of HKD 8,493,000 for the six months ended September 30, 2025, compared to a net inflow of HKD 10,594,000 for the same period in 2024[34]. - The company’s financing activities generated a net cash inflow of HKD 303,000, contrasting with a net cash outflow of HKD 7,816,000 in the previous year[34]. - Cash and cash equivalents decreased to HKD 6,571,000 from HKD 14,487,000, a decline of approximately 54.5%[34]. - As of September 30, 2025, the company had bank borrowings of HKD 7,382,000, slightly decreased from HKD 7,652,000 as of March 31, 2025[78]. Corporate Governance - The company has established an audit committee composed of three independent non-executive directors to oversee financial reporting[18]. - The group has issued 1,869,159,962 ordinary shares with a par value of HKD 0.01 each, totaling HKD 18,692 thousand as of both September 30, 2025, and March 31, 2025[79]. - The company did not declare any interim dividend for the six months ended September 30, 2025[26]. - The group did not declare any interim dividends for the six months ended September 30, 2025, consistent with the previous year[81]. Discontinued Operations - The group terminated its engineering construction business in Hong Kong by selling Win Vision Holdings Limited and its subsidiaries as of March 31, 2025[82]. - The discontinued operations reported a revenue of HKD 0 for the six months ended September 30, 2025, compared to HKD 69,777 thousand for the same period in 2024[83]. - The net cash flow from operating activities for the discontinued operations was HKD 0, while cash flow from investing activities was HKD 48,493 thousand, and cash flow from financing activities was HKD (68,490) thousand[83]. Market and Strategic Outlook - The company aims to enhance long-term profitability and pursue sustainable growth, focusing on opportunities in Malaysia, China, and Cambodia[6]. - The company has no significant foreign exchange risks apart from certain receivables denominated in foreign currencies, with no major capital commitments or contingent liabilities reported[11]. - The company has not applied any new standards or interpretations that have not yet come into effect for the current accounting period[41].
均安控股(01559) - 2026 - 中期财报