Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 219,124,000, a decrease of 63.24% compared to HKD 595,834,000 for the same period in 2024[3] - Gross profit for the same period was HKD 44,285,000, down 50.14% from HKD 88,235,000 in 2024[3] - The profit before tax decreased to HKD 20,558,000, representing a decline of 68.32% from HKD 64,869,000 in the previous year[3] - The net profit for the period was HKD 18,428,000, a decrease of 67.96% compared to HKD 55,798,000 in 2024[3] - Basic and diluted earnings per share were HKD 1.53, down from HKD 5.41 in the same period last year[3] - Total comprehensive income for the period was HKD 22,329,000, a decline of 65.16% from HKD 64,103,000 in 2024[5] - Revenue from construction contracts for the six months ended September 30, 2025, was HKD 219,124,000, down 63.3% from HKD 595,834,000 in the same period of 2024[21] - Other income, including interest income, decreased to HKD 1,161,000 from HKD 8,616,000, marking a decline of 86.5% year-over-year[21] - The company’s profit attributable to owners for the six months ended September 30, 2025, was HKD 17,724,000, a decrease of 67.8% compared to HKD 55,061,000 for the same period in 2024[26] - The basic earnings per share for the six months ended September 30, 2025, was HKD 0.0153, down from HKD 0.0540 in 2024, based on a weighted average of 1,154,945,765 shares[27] - The renewable energy business recorded total revenue of approximately HKD 219,124,000, a decrease of about 63.2% compared to HKD 595,834,000 in the same period last year[40] Assets and Liabilities - Non-current assets increased to HKD 50,245,000 as of September 30, 2025, compared to HKD 44,889,000 as of March 31, 2025[6] - Current assets totaled HKD 700,001,000, down from HKD 761,696,000 at the end of March 2025[6] - Total liabilities decreased to HKD 354,069,000 from HKD 430,784,000 in the previous period[6] - The company's equity increased to HKD 396,177,000 as of September 30, 2025, compared to HKD 375,801,000 as of March 31, 2025[7] - The total trade receivables as of September 30, 2025, amounted to HKD 275,806,000, a decrease from HKD 291,314,000 as of March 31, 2025[29] - The provision for expected credit losses on trade receivables increased to HKD 32,366,000 as of September 30, 2025, from HKD 32,084,000 at the beginning of the period[30] - The total bank and other borrowings as of September 30, 2025, was HKD 104,886,000, an increase from HKD 94,358,000 as of March 31, 2025[32] - The aging analysis of trade payables as of September 30, 2025, showed a total of HKD 148,200,000, down from HKD 234,520,000 as of March 31, 2025[31] - The capital-to-debt ratio was approximately 30.6%, slightly up from about 29% at the end of the previous period[48] Cash Flow - For the six months ended September 30, 2025, the net cash generated from operating activities was HKD 5,629,000, a significant decrease from HKD 30,617,000 in the same period of 2024, representing an 81.6% decline[10] - Total cash and cash equivalents increased by HKD 46,651,000 to HKD 127,323,000 as of September 30, 2025, compared to HKD 159,976,000 at the end of the previous period[10] - Cash and cash equivalents increased to approximately HKD 127,323,000 from HKD 80,672,000, representing a growth of about 6.9%[46] Operational Overview - The company operates primarily in the renewable energy sector, focusing on providing one-stop value-added solutions for photovoltaic power stations and selling patented photovoltaic tracking support systems[14] - The majority of external customer revenue is derived from mainland China, with total revenue from this region being HKD 219,124,000 for the current period[17] - The group’s non-current assets are located in Hong Kong and China, indicating a strong regional focus on its operational base[18] - The company has implemented strict monitoring of trade receivables to minimize credit risk, with credit terms generally ranging from 30 to 90 days[29] - The cost of construction materials and supplies was HKD 110,465,000, down 65.1% from HKD 316,653,000 in the previous year[23] - The group reported a pre-tax loss for the six months ended September 30, 2025, with total expenses amounting to HKD 174,839,000, a decrease from HKD 507,599,000 in the same period of 2024[23] - Contract costs amounted to approximately HKD 174,839,000, down from HKD 507,599,000 in the previous year[41] - Administrative and other operating expenses totaled approximately HKD 23,507,000, a reduction of about 20.3% from HKD 29,482,000 in the same period last year[42] - Financing costs decreased by approximately 44.8% to HKD 1,381,000 from HKD 2,500,000 in the previous year[43] Shareholder Information - The company did not declare or pay any dividends for the six months ended September 30, 2025, and 2024[28] - The company’s weighted average number of shares increased from 1,017,761,858 in 2024 to 1,154,945,765 in 2025, reflecting a share issuance[26] - As of September 30, 2025, Mr. Wu Jianong held 749,986,515 shares, representing 61.12% of the company's equity[57] - The major shareholder, Zhenjie Limited, held 739,375,515 shares, accounting for 60.26% of the company's equity[59] - A share incentive plan was adopted on September 24, 2024, allowing for a maximum of 10% of the issued share capital (122,700,000 shares) to be awarded[60] - A total of 74,350,000 shares have been purchased in the market under the share incentive plan since its adoption, with no shares granted as rewards to date[62] - The share incentive plan allows for a maximum of 1% of the company's issued share capital to be granted as reward shares or options to selected participants[61] - The share incentive plan is effective for a period of 10 years starting from September 24, 2024[62] Governance and Compliance - The company has complied with all applicable corporate governance codes, except for the separation of the roles of Chairman and CEO, which are held by the same individual since August 11, 2016[54] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2025, and confirmed compliance with applicable accounting standards[66] - The company has adopted the GEM Listing Rules regarding the code of conduct for securities trading by directors, with all directors confirming compliance for the six months ending September 30, 2025[65] - There are no significant events that require disclosure after September 30, 2025, up to the report date[67] - The company has no significant investments, acquisitions, or disposals of subsidiaries or associates during the reporting period[50] - There are no significant contingent liabilities or capital commitments as of the reporting date[51][52] Employment - As of September 30, 2025, the group had 173 employees, an increase from 162 employees as of March 31, 2025[53]
同景新能源(08326) - 2026 - 中期财报