Financial Performance - The company recorded a net profit of approximately HKD 191,000 for the six months ending September 30, 2025, an increase of approximately HKD 97,000 compared to the same period in 2024[10]. - Revenue from foundation engineering was approximately HKD 234.3 million, an increase of approximately HKD 108.9 million or 86.8% compared to approximately HKD 125.4 million for the six months ending September 30, 2024[12]. - Other income for the period was approximately HKD 6.8 million, an increase of approximately HKD 1.4 million or 26.9% compared to approximately HKD 5.4 million for the same period in 2024[14]. - For the six months ended September 30, 2025, the company generated revenue of HKD 234.3 million, a significant increase from HKD 125.4 million in the same period of 2024, representing an increase of approximately 87%[40]. - The gross profit for the same period was HKD 3.3 million, compared to HKD 3.8 million in 2024, indicating a slight decrease in gross margin[40]. - The company's profit before tax for the six months ended September 30, 2025, was HKD 191,000, compared to HKD 94,000 for the same period in 2024, representing a 103% increase[74]. Expenses and Costs - Administrative expenses increased to approximately HKD 8.7 million, up approximately HKD 0.7 million or 8.8% from approximately HKD 8.0 million for the six months ending September 30, 2024[15]. - Financing costs decreased to approximately HKD 741,000, a reduction of approximately HKD 59,000 or 7.4% compared to approximately HKD 800,000 for the same period in 2024[16]. - The total employee cost for the period was approximately HKD 63.7 million, up from HKD 35.7 million for the six months ended September 30, 2024[35]. - Employee costs, including director remuneration, increased to HKD 63,706,000 in 2025 from HKD 35,734,000 in 2024, reflecting an increase of 78%[8]. - The total remuneration for directors and senior management for the six months ended September 30, 2025, was HKD 2,407,000, an increase of 25.3% compared to HKD 1,921,000 for the same period in 2024[111]. Cash Flow and Liquidity - As of September 30, 2025, the company reported total cash and cash equivalents of approximately HKD 5.6 million, an increase from HKD 3.8 million as of March 31, 2025[24]. - The net cash increase for the period was HKD 1,789,000, down from HKD 4,175,000 in the same period last year[47]. - For the six months ended September 30, 2025, the operating cash flow was HKD 11,243,000, a decrease of 16.6% from HKD 13,491,000 in the same period of 2024[47]. - Cash and cash equivalents at the end of the period were HKD 5,562,000, down from HKD 8,044,000 at the end of the same period in 2024[47]. - The company’s investment activities resulted in a net cash outflow of HKD 1,533,000, compared to HKD 787,000 in the previous year[47]. - The company’s financing activities led to a net cash outflow of HKD 7,921,000, slightly improved from HKD 8,529,000 in the same period last year[47]. Contracts and Projects - The company has an unrecognized contract amount of approximately HKD 295.9 million as of September 30, 2025, and aims to continue bidding for large and quality projects[10]. - The company completed one project with an original contract amount of approximately HKD 1.6 million during the reporting period and has 31 projects on hand with a total original contract amount of approximately HKD 1.3 billion[11]. - Total contract revenue for the six months ended September 30, 2025, was HKD 234,273,000, representing an increase of 86.7% compared to HKD 125,442,000 in 2024[61]. - Revenue from public projects accounted for HKD 231,755,000, significantly up from HKD 114,178,000 in the previous year, indicating a growth of 103.1%[64]. - The total amount of uncompleted long-term construction contracts is HKD 295,899,000, down from HKD 361,519,000, indicating a decrease of 18%[96]. Assets and Liabilities - The company's debt-to-equity ratio decreased to approximately 33.7% as of September 30, 2025, down from 41.8% as of March 31, 2025, primarily due to a reduction in total liabilities and an increase in total equity from profits[24]. - Trade receivables as of September 30, 2025, amounted to HKD 30,059,000, up from HKD 21,345,000 in 2024, marking an increase of 41%[84]. - The total expected credit loss provision for trade and other receivables increased to HKD 519,000 in 2025 from HKD 409,000 in 2024, indicating a rise of 27%[85]. - The expected credit loss provision increased to HKD 1,494,000 from HKD 1,204,000, reflecting a rise of 24% in the six months ending September 30, 2025[92]. - The total trade payables increased to HKD 46,940,000 from HKD 41,988,000, representing an increase of 12%[99]. Corporate Governance and Shareholder Information - The company has adopted the corporate governance code as per the listing rules, with a noted deviation regarding the roles of the chairman and CEO being held by Mr. Chen[124]. - The company’s major shareholder, Mr. Chan, holds 900,000,000 shares, representing 75% of the total issued share capital[117]. - A sale agreement was signed on October 15, 2025, for the sale of 900,000,000 shares at a price of HKD 80,000,000, equivalent to HKD 0.089 per share[118]. - Following the completion of the sale agreement, Oriental Castle will no longer hold any shares in the company, impacting the ownership structure significantly[119]. - Oriental Castle holds 900,000,000 shares, representing 75% of the company's equity[121]. Related Party Transactions - Significant related party transactions included salaries and allowances for Ms. Chan Sia, amounting to HKD 902,000, which is a 95.0% increase from HKD 462,000 in the previous year[113]. - The company has engaged in various related party transactions, with total remuneration for key management personnel reflecting a focus on aligning compensation with performance[113]. Legal and Compliance - A settlement agreement was reached in October 2025, where the company agreed to pay HKD 9.4 million monthly for 12 months regarding a claim from a service provider[130]. - The audit committee, established on May 14, 2018, consists of three independent non-executive directors and is responsible for reviewing financial statements and internal controls[133]. - The unaudited condensed consolidated interim financial statements have been reviewed by the audit committee, confirming compliance with applicable accounting standards[134].
俊裕地基(01757) - 2026 - 中期财报