Financial Performance - For the six months ended 30 September 2025, the Group recorded revenue from property management contracts of approximately HK$150.4 million, stable compared to approximately HK$148.4 million for the same period in 2024[17]. - Revenue for the six months ended September 30, 2025, was HK$163,736,000, a decrease of 3.0% from HK$168,758,000 in the same period of 2024[111]. - Profit from operations increased to HK$26,879,000, up 5.1% from HK$25,569,000 year-over-year[111]. - Profit for the period from continuing operations was HK$18,041,000, representing an increase of 7.6% compared to HK$16,775,000 in the previous year[112]. - Basic and diluted earnings per share from continuing operations rose to 3.7 cents, up from 3.4 cents in the prior year[112]. - Total comprehensive income for the period was HK$22,361,000, down from HK$25,133,000 in the same period last year[114]. - The profit for the period ended September 30, 2025, was HK$18,041,000, compared to HK$14,309,000 for the same period in 2024, indicating a year-over-year increase of approximately 26.5%[121]. - Consolidated profit before taxation increased to $26,677,000 in 2025, up from $24,955,000 in 2024, reflecting a growth of 6.9%[160]. Revenue and Contracts - Revenue from property management services experienced a modest decrease due to the adjustment from product-oriented services to service-based value-added services[13]. - The Group's revenue from property management contracts in Mainland China for the six months ended September 30, 2025, was HK$150,363,000, compared to HK$148,431,000 for the same period in 2024, reflecting a growth of 1.3%[145]. - Revenue from property management related value-added services in Mainland China decreased to HK$13,373,000 in 2025 from HK$20,327,000 in 2024, representing a decline of 34.2%[145]. - Total revenue from contracts with customers for the six months ended September 30, 2025, was HK$163,736,000, compared to HK$168,758,000 in 2024, indicating a decrease of 3.0%[145]. Cost Management - The Group emphasized cost control and operational streamlining to navigate the challenging operating landscape in the property management industry[12]. - Staff costs decreased by approximately 3.8% or HK$2.4 million to approximately HK$60.6 million for the six months ended 30 September 2025, down from approximately HK$63.0 million for the same period in 2024[27][30]. - Utilities and repair and maintenance expenses decreased by 12.5% or HK$2.0 million to approximately HK$14.0 million for the six months ended 30 September 2025, down from approximately HK$16.0 million for the same period in 2024[31][33]. - Other operating expenses increased by approximately 11.8% or HK$2.3 million to approximately HK$21.8 million for the six months ended 30 September 2025, compared to approximately HK$19.5 million for the same period in 2024[32][34]. Assets and Liabilities - As of 30 September 2025, the Group's total current assets were approximately HK$409.8 million, while current liabilities were approximately HK$198.7 million, resulting in a current ratio of 2.1 times[35]. - The Group's total current assets and current liabilities were approximately HK$409.8 million and HK$198.7 million, respectively, leading to a current ratio of approximately 2.1, up from 1.5[38]. - The Group's equity increased to approximately HK$273.1 million as of 30 September 2025, compared to HK$250.7 million as of 31 March 2025[39][41]. - As of 30 September 2025, total interest-bearing borrowings decreased to approximately HK$3.1 million from HK$56.9 million as of 31 March 2025, resulting in a gearing ratio of 0.01 compared to 0.2 previously[37][39]. - The Group's net current assets improved to HK$211,076,000, up from HK$132,444,000 as of March 31, 2025[117]. Employee and Operational Changes - The Group had 818 employees as of 30 September 2025, a decrease from 873 employees as of 31 March 2025[49][52]. - The Group's resilience is reflected in its disciplined cost control and selective project expansion despite market challenges[12]. - The Group's strategic focus has shifted towards maintaining and optimizing existing projects due to the downturn in China's real estate sector and increasing market competition[16]. Corporate Governance and Compliance - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming full compliance by all directors as of September 30, 2025[62]. - The company has adopted the Corporate Governance Code and believes it has complied with the code provisions during the six months ended September 30, 2025[89]. - The Audit Committee reviewed the interim financial report for the six months ended September 30, 2025, with no disagreements noted[91]. Shareholder Information - As of September 30, 2025, Zheng Jian Jiang holds 337,950,000 shares, representing approximately 68.55% of the issued share capital of the company[66]. - The company has issued a total of 492,984,000 shares as of September 30, 2025[78]. - The board does not recommend the payment of an interim dividend for the six months ending September 30, 2025, with a proposed amount of zero[61]. Future Outlook - The Group remains cautiously optimistic about profitability in its property management business despite challenges in China's real estate sector[50][53]. - The Group is open to evaluating potential business and investment opportunities that align with its core competencies and financial objectives[55].
奥克斯国际(02080) - 2026 - 中期财报