Financial Performance - Revenue for the six months ended September 30, 2025, was HK$55,361,000, representing a 83.8% increase from HK$30,084,000 in the same period of 2024[15]. - Gross profit for the same period was HK$1,749,000, down from HK$3,162,000, indicating a decline of 44.8%[15]. - Loss before tax increased to HK$9,322,000 compared to HK$5,150,000 in the prior year, reflecting a rise of 80.5%[17]. - Loss attributable to owners of the Company for the period was HK$9,322,000, compared to HK$5,484,000 in the previous year, marking a 69.5% increase[17]. - Basic and diluted loss per share was HK$0.05, an improvement from HK$0.12 in the same period last year[17]. - The company reported a loss for the period of HK$9,322,000 for the six months ended September 30, 2025, compared to a loss of HK$5,484,000 for the same period in 2024[25]. - The Group's gross profit for the six months ended 30 September 2025 was approximately HK$1.7 million, a decrease of approximately HK$1.5 million compared to HK$3.2 million for the same period in 2024[125][133]. - The increase in loss for the period was approximately HK$9.3 million, compared to HK$5.5 million for the same period in 2024, primarily due to decreased gross profit and increased administrative expenses[133][138]. Administrative and Operating Expenses - Administrative expenses rose significantly to HK$9,869,000 from HK$4,878,000, an increase of 102.0%[15]. - Total salaries and wages included in cost of sales/services rendered decreased to HK$539,000 in 2025 from HK$697,000 in 2024, reflecting a reduction of approximately 22.7%[67]. - Administrative expenses for directors' emoluments increased significantly to HK$1,781,000 in 2025 from HK$484,000 in 2024, marking a rise of approximately 268.6%[67]. Assets and Liabilities - As of September 30, 2025, the total assets less current liabilities amounted to HK$86,810,000, an increase from HK$59,454,000 as of March 31, 2025, representing a growth of approximately 46%[20]. - The net current assets increased to HK$82,719,000 from HK$53,501,000, reflecting a growth of about 54%[20]. - Total assets as of 30 September 2025 amounted to HK$108,183,000, with segment assets contributing HK$82,959,000[56]. - The company’s total liabilities as of 31 March 2025 were HK$52,567,000, with unallocated liabilities amounting to HK$33,833,000[57]. - Total trade and other payables decreased significantly from HK$47,678,000 on 31 March 2025 to HK$16,068,000 on 30 September 2025[102]. Cash Flow and Financing - Cash and cash equivalents decreased to HK$11,128,000 from HK$43,249,000, a decline of approximately 74%[27]. - The net cash used in operating activities for the six months ended September 30, 2025, was HK$43,057,000, compared to HK$25,847,000 for the same period in 2024, indicating a significant increase in cash outflow[27]. - The company did not incur any cash outflow for investing activities during the six months ended September 30, 2025, compared to HK$2,122,000 in the previous year[27]. - Proceeds from the issue of shares amounted to HK$13,405,000 for the six months ended September 30, 2025, compared to HK$7,563,000 for the same period in 2024, reflecting an increase of approximately 77%[27]. Revenue Segments - Revenue from design, fitting out, and engineering services was HK$51,702,000, up from HK$24,348,000, indicating a growth of 112.5%[43]. - Revenue from contracts with customers is based on fixed prices, adhering to HKFRS 15[44]. - The Group's financial services segment, which includes securities advisory and asset management, reported a total revenue of HK$135,000[50]. - Revenue from design, fitting out and engineering services increased by approximately HK$27.4 million, while revenue from leasing of construction equipment decreased by approximately HK$2.1 million[125][127]. Credit and Receivables - Allowance for expected credit loss on loan and interest receivables was HK$31,000, with trade receivables allowance at HK$985,000, showing a decrease from HK$3,326,000[15]. - Trade receivables from sales and service income increased to HK$49,303,000 from HK$36,984,000, representing a growth of 33.3%[88]. - The total trade and other receivables increased to HK$62,820,000 from HK$41,128,000, marking a significant rise of 52.7%[88]. - The allowance for expected credit losses (ECL) for trade receivables increased to HK$8,018,000 from HK$7,033,000, reflecting a rise of 14.1%[92]. Strategic Focus and Future Plans - The Company continues to focus on market expansion and new product development strategies to enhance future performance[13]. - The financial results indicate a challenging operating environment, necessitating strategic adjustments to improve profitability moving forward[13]. - The Group plans to reduce the scale of public housing maintenance and is reformulating its design, fitting out and engineering services business to seek other projects[134][139]. - The Group is focusing on maintaining business relationships with existing customers to secure recurring orders and is also seeking to introduce new customers[137][140]. Shareholder and Governance Matters - The Group did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[74]. - The company implemented a share consolidation, reducing the total number of issued shares from 225,763,200 to 45,152,640[108]. - The share option scheme was conditionally adopted on June 30, 2014, and is valid for ten years, allowing the Board to grant options to eligible participants[192]. - Since the adoption of the share option scheme, no share options have been granted by the company[193].
中新控股(08125) - 2026 - 中期财报