Financial Statements Compliance - The interim condensed consolidated financial statements as of September 30, 2025, were reviewed, showing compliance with HKAS 34[8]. - The report indicates that no significant issues were identified that would suggest the financial statements are not prepared in accordance with HKAS 34[11]. - The review was conducted in accordance with Hong Kong Standard on Review Engagements 2410, focusing on inquiries and analytical procedures[10]. - The Group's condensed consolidated financial statements for the six months ended September 30, 2025, were prepared in accordance with HKAS 34 "Interim Financial Reporting" and applicable disclosure requirements[25][28]. Financial Performance - For the six months ended September 30, 2025, the net interest income was HK$72,454,000, a decrease of 1.8% from HK$73,802,000 in the same period of 2024[17]. - The operating profit for the period increased to HK$32,943,000, up 10.4% from HK$29,634,000 in the previous year[17]. - Profit attributable to owners of the Company for the period was HK$27,299,000, representing a 12.0% increase compared to HK$24,359,000 in the same period of 2024[17]. - Basic and diluted earnings per share rose to 6.58 HK cents, an increase of 12.1% from 5.87 HK cents in the previous year[17]. - The total comprehensive income attributable to owners of the Company for the period was HK$27,299,000[54]. - Profit attributable to shareholders increased by 11.9% to HK$27.3 million, compared to HK$24.4 million in the previous period[125][127]. Assets and Equity - Total assets as of September 30, 2025, amounted to HK$1,085,196,000, an increase of 6.3% from HK$1,020,942,000 as of March 31, 2025[18]. - Total equity attributable to owners of the Company increased to HK$873,905,000, up from HK$852,001,000 as of March 31, 2025[18]. - The net book value of land and buildings as of September 30, 2025, was approximately HK$113,298,000, a decrease from HK$115,016,000 as of March 31, 2025[81]. - As of September 30, 2025, net assets amounted to HK$873.9 million, an increase from HK$852.0 million as of March 31, 2025[150]. Cash Flow and Liquidity - Cash and cash equivalents decreased to HK$14,671,000 from HK$33,486,000 at the beginning of the period[20]. - The net cash used in operating activities was HK$19,940,000, compared to a net cash generated of HK$62,111,000 in the same period of 2024[20]. - The Group's unutilised banking facilities as of 30 September 2025 were HK$120,139,000, down from HK$209,809,000 as of 31 March 2025[106]. Loans and Receivables - As of September 30, 2025, total gross loans and interest receivables amounted to HK$901,195,000, an increase of 12.06% from HK$804,502,000 as of March 31, 2025[83]. - The secured property mortgage loans increased to HK$694,985,000 from HK$606,052,000, reflecting a growth of 14.6%[83]. - Unsecured property owner loans rose to HK$206,210,000, up from HK$198,450,000, marking a growth of 3.9%[83]. - The aging analysis of loans shows that overdue loans over 90 days increased to HK$143,177,000 from HK$134,582,000, representing a rise of 5.3%[91]. Impairment and Provisions - The provision for impairment increased to HK$30,960,000 as of September 30, 2025, compared to HK$23,016,000 as of March 31, 2025, indicating a rise of 34.4%[83]. - Impairment losses recognized during the six months ended September 30, 2025, were HK$8,630,000, a decrease from HK$9,017,000 for the same period in 2024[86]. Dividends - Dividends declared for the period were HK$6,640,000, an increase from HK$5,395,000 in the previous year[17]. - An interim dividend of HK$6,640,000 was proposed for the six months ended September 30, 2025, compared to HK$5,395,000 for the same period in 2024, indicating an increase of approximately 23.1%[78]. Risk Management - The Group's overall risk management program focuses on minimizing potential adverse effects on financial performance due to market unpredictability[32][35]. - The Group's financial risk management includes exposure to market risk, credit risk, and liquidity risk[32][35]. - The Group maintained stringent credit policies and robust risk management measures to preserve loan portfolio quality amid economic challenges[123]. Corporate Governance - The Company has complied with the Corporate Governance Code during the review period[197]. - All Directors confirmed compliance with the Model Code for securities transactions during the review period[199]. Auditor Changes - PricewaterhouseCoopers resigned as the auditor of the Company on October 24, 2025, and Deloitte Touche Tohmatsu was appointed as the new auditor[200].
香港信贷(01273) - 2026 - 中期财报