Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 252,432,000, a decrease of 37.0% compared to HKD 400,813,000 in the same period of 2024[15] - Gross profit for the same period was HKD 52,149,000, down 35.0% from HKD 80,278,000 year-on-year[15] - Operating profit decreased by 48.3% to HKD 25,055,000 from HKD 48,465,000 in the previous year[15] - Profit before tax fell by 50.8% to HKD 23,129,000 compared to HKD 46,988,000 in the prior period[15] - Net profit for the period was HKD 19,210,000, a decline of 48.8% from HKD 37,541,000 in the previous year[15] - Basic and diluted earnings per share were HKD 0.02, down 60.0% from HKD 0.05 in the same period of 2024[15] Business Strategy and Focus - The company aims to become a pioneer in green infrastructure in Hong Kong, actively undertaking renewable energy projects[18] - The company is focusing on the development of renewable energy, including solar photovoltaic projects and electric commercial vehicles[19] - The business strategy includes a dual focus on "new energy + green construction" to drive growth amid rising construction costs and labor shortages[18] - The company is optimistic about seeking opportunities through innovative solutions and flexible operational strategies despite ongoing global economic uncertainties[18] Revenue Breakdown by Segment - The group's renewable energy business generated approximately HKD 11.2 million in revenue, an increase of HKD 1.2 million or 12% compared to the same period last year[20] - The civil engineering segment recorded revenue of approximately HKD 139.5 million, a decrease of HKD 164.3 million or 54% year-on-year, primarily due to several projects nearing completion[23] - The electromechanical engineering revenue was approximately HKD 95.4 million, an increase of HKD 14.7 million or 18%, driven by the activation of an 8-year main contract for cable trench excavation and laying[24] Financial Position and Assets - As of September 30, 2025, the company's equity amounted to approximately HKD 370.9 million, an increase from HKD 351.6 million as of March 31, 2025[37] - The company's cash and cash equivalents were approximately HKD 38.1 million as of September 30, 2025, down from HKD 93.7 million as of March 31, 2025[38] - The current ratio as of September 30, 2025, was approximately 2.15, compared to 2.10 as of March 31, 2025[39] - The debt-to-equity ratio increased to approximately 24.5% as of September 30, 2025, from 20.5% as of March 31, 2025[40] - The net current assets were HKD 237.2 million as of September 30, 2025, up from HKD 216.7 million as of March 31, 2025[41] Capital Expenditures and Investments - Capital expenditures during the reporting period were approximately HKD 34.1 million, compared to HKD 20.3 million in the previous period[44] - The company entered into a purchase agreement for an integrated charging and swapping station and other equipment for HKD 1.73 million, as part of its ongoing business operations[49] - The company has no major investment or acquisition plans beyond those disclosed in the prospectus[45] Employee and Operational Metrics - Employee costs totaled approximately HKD 77.7 million during the reporting period, a decrease from HKD 79.6 million in the previous period[61] - The group has 417 employees as of September 30, 2025, an increase from 411 employees as of March 31, 2025[60] - The company has established a share incentive plan to motivate employees, although no options or shares have been granted or exercised to date[60] Share Issuance and Proceeds - The net proceeds from the share issuance are approximately HKD 150.0 million, intended for the uses specified in the prospectus[58] - As of September 30, 2025, the planned and actual uses of the net proceeds include 45% (HKD 67.5 million) for purchasing more machinery and equipment, with HKD 19.1 million already utilized[59] Tax and Compliance - The actual tax rate for the period was approximately 16.9%, down from 20.1% in the previous period, mainly due to non-deductible listing expenses[35] - The company has maintained compliance with non-financial covenants related to its borrowings throughout the reporting period[133] Shareholder Information - Major shareholders, including Rongli Green Development Limited, hold 75% of the company's shares[72] - The company’s major shareholders include Mr. Yao Hongli with 68%, Mr. Yao Honglong with 17%, and Mr. Chen Lumin with 15%[79] Other Financial Metrics - The company reported a profit of HKD 19,210,000 for the period, contributing to total comprehensive income of HKD 19,288,000[91] - The company incurred sales and marketing expenses of HKD 4,099,000, which were not present in the previous year's report[108] - The financial costs for the period were HKD 1,926,000, compared to HKD 1,477,000 in the previous year, reflecting an increase of approximately 30%[108] - Income tax expense for the six months ended September 30, 2025, was HKD 3,919,000, down from HKD 9,447,000 in 2024[116]
荣利营造(09639) - 2025 - 中期财报