Financial Performance - Total revenue for the six months ended September 30, 2025, was HK$72,090,000, a decrease of 10.1% from HK$80,713,000 in the same period of 2024[9]. - Gross profit for the period was HK$21,775,000, down from HK$23,700,000, reflecting a gross margin of 30.2%[9]. - Profit for the period increased to HK$5,058,000, compared to HK$4,644,000 in the previous year, representing an increase of 8.9%[9]. - Earnings per share for the period was HK$0.59, up from HK$0.54, indicating a growth of 9.3%[9]. - The total comprehensive income for the period was HK$4,416,000, down from HK$4,947,000 in the same period of 2024, reflecting a decrease of approximately 10.7%[13]. - For the six months ended September 30, 2025, the Group recorded a net profit of approximately HK$5.1 million, an increase from approximately HK$4.6 million for the same period in 2024[102]. - The Group's overall gross profit decreased by approximately 8.1% from approximately HK$23.7 million for 1H2025 to approximately HK$21.8 million for 1H2026, while the gross profit margin increased to approximately 30.2% for 1H2026 (1H2025: approximately 29.4%) due to a decrease in cost of sales and services[146][149]. Assets and Liabilities - Non-current assets as of September 30, 2025, totaled HK$167,850,000, slightly up from HK$166,525,000 as of March 31, 2025[10]. - Current assets decreased to HK$169,173,000 from HK$172,600,000, a decline of 2.5%[10]. - Current liabilities decreased to HK$74,130,000 from HK$80,301,000, a reduction of 7.7%[10]. - Net current assets increased to HK$95,043,000 from HK$92,299,000, showing a growth of 3.0%[10]. - As of September 30, 2025, the company's net assets decreased to HK$232,427,000 from HK$234,059,000 as of March 31, 2025, reflecting a decline of approximately 0.7%[11]. - The total equity as of September 30, 2025, was HK$232,427,000, which includes issued capital of HK$864,000 and reserves of HK$231,563,000[13]. - As of September 30, 2025, the Group's total borrowings amounted to HK$32,154,000, a decrease from HK$41,860,000 as of March 31, 2025[95]. - The Group's secured borrowings as of September 30, 2025, were HK$36,343,000, down from HK$41,860,000 as of March 31, 2025[94]. - The Group's borrowings and lease liabilities amounted to approximately HK$47.5 million as of 30 September 2025, down from approximately HK$49.8 million as of 31 March 2025[172]. Cash Flow - The net cash from operating activities for the six months ended September 30, 2025, was HK$19,059,000, slightly down from HK$19,484,000 in 2024[16]. - The company reported a net cash used in investing activities of HK$1,829,000 for the six months ended September 30, 2025, compared to HK$23,424,000 in the previous year, indicating a significant reduction in cash outflow[16]. - Cash and cash equivalents at the end of the period were HK$109,975,000, up from HK$91,100,000 at the end of September 2024, marking an increase of approximately 20.6%[16]. - As of 30 September 2025, the Group had cash balances of approximately HK$110.0 million and borrowings of approximately HK$47.5 million[167]. - The Group had banking facilities of approximately HK$118.3 million as of 30 September 2025, with approximately HK$77.1 million drawn down[168]. Revenue Segmentation - For the six months ended September 30, 2025, the Group's total revenue was HK$72,090,000, with leasing revenue contributing HK$67,867,000 and trading revenue contributing HK$4,223,000[36]. - The leasing segment generated a profit of HK$21,083,000, while the trading segment reported a profit of HK$582,000, leading to a total segment profit of HK$21,665,000[36]. - Revenue from external customers in the leasing segment increased compared to the previous year, with leasing income of HK$52,422,000 for the six months ended September 30, 2025, compared to HK$60,265,000 for the same period in 2024[28][33]. - The geographical breakdown of leasing revenue shows that Hong Kong contributed HK$60,444,000, Macau contributed HK$1,449,000, and Singapore contributed HK$5,972,000 for the six months ended September 30, 2025[28]. - Leasing income from equipment decreased from approximately HK$60.3 million in 1H2025 to approximately HK$52.4 million in 1H2026, while operating services income fell from approximately HK$12.4 million to approximately HK$10.7 million in the same period[110]. Expenses and Costs - Total staff costs for the period were HK$29,861,000, a decrease of 6.1% compared to HK$31,786,000 in the previous year[66]. - Administrative expenses increased by approximately 1.7% to approximately HK$20.6 million in 1H2026 (1H2025: approximately HK$20.2 million) due to increased staff costs[153][157]. - The Group's cost of sales and services decreased to approximately HK$50.3 million in 1H2026, down approximately 11.7% from HK$57.0 million in 1H2025[141]. - Depreciation costs under cost of sales and services decreased to approximately HK$18.3 million in 1H2026, compared to approximately HK$21.5 million in 1H2025[145]. Impairment and Losses - The company recognized impairment losses of HK$1,162,000 on lease receivables and trade receivables, compared to HK$929,000 in the previous period[9]. - The share of loss from a joint venture for the six months ended September 30, 2025, was HK$18,000, compared to HK$14,000 in 2024[45]. - Impairment losses recognized under the expected credit loss model for lease and trade receivables amounted to HK$1,162,000 in 2025, compared to HK$929,000 in 2024[45]. - The Group faced challenges in collecting account receivables in Hong Kong, leading to more impairment losses recognized under the expected credit loss model in 1H2026[109]. Dividends - The company paid dividends totaling HK$6,048,000 during the period, compared to HK$5,184,000 in the previous year, reflecting an increase of approximately 16.7%[16]. - The Company declared a final dividend of HK$0.70 per ordinary share, totaling HK$6,048,000, compared to HK$0.60 per share and HK$5,184,000 in the previous year[71]. - An interim dividend of HK$0.23 per ordinary share was declared, amounting to approximately HK$1,987,000, up from HK$0.16 per share and approximately HK$1,382,000 in the prior period[72]. Shareholding and Governance - As of September 30, 2025, Mr. Lau Pong Sing holds 363,528,000 shares, representing approximately 42.08% of the company's ordinary shares[194]. - Ms. Chan Kit Mui, Lina also holds 284,471,352 shares, which is about 32.92% of the company's ordinary shares[194]. - Mr. Lau is deemed to be interested in the shares held by Ms. Chan due to their spousal relationship, reflecting a combined interest in the company's shares[196]. - The company has no other directors or chief executives with interests or short positions in shares that need to be disclosed as of September 30, 2025[200].
亚积邦租赁(01496) - 2026 - 中期财报