Financial Performance - The group's revenue for the six months ended September 30, 2025, was HKD 47,622,000, a decrease of 20% compared to HKD 59,455,000 in the same period of 2024[6] - Gross profit increased significantly to HKD 13,637,000, up from HKD 4,516,000, reflecting a gross margin improvement[6] - The group reported a profit before tax of HKD 12,366,000, down from HKD 19,292,000 in the previous year, indicating a decline of 36%[6] - Net profit for the period was HKD 11,988,000, compared to HKD 19,247,000 in 2024, representing a decrease of 37%[6] - Basic and diluted earnings per share were HKD 0.088, down from HKD 0.144 in the same period last year[6] Assets and Cash Flow - Total assets as of September 30, 2025, were HKD 221,696,000, an increase from HKD 205,090,000 as of March 31, 2025[7] - Cash and cash equivalents at the end of the period increased to HKD 27,726,000 from HKD 16,358,000 at the beginning of the period[9] - The group generated net cash from operating activities of HKD 11,851,000, a significant recovery from a cash outflow of HKD 28,126,000 in the previous year[9] - Non-current assets increased to HKD 136,312,000 from HKD 112,230,000, driven by fair value gains on financial assets[7] Revenue Breakdown - Revenue from new property construction was HKD 38,530,000, down from HKD 50,831,000 in 2024, representing a decline of approximately 24%[14] - The company's revenue decreased by approximately HKD 11.9 million or 20.0% to about HKD 47.6 million for the six months ended September 30, 2025, primarily due to a reduction in the number of projects[34] Employee and Operational Costs - The total employee costs for the period were HKD 38,631,000, a decrease of 20% compared to HKD 48,241,000 in 2024[17] - Service costs decreased by approximately HKD 20.9 million or 38.1% to about HKD 34.0 million for the same period, mainly due to reductions in director remuneration and employee costs[35] - General and administrative expenses decreased by approximately HKD 2.6 million or 12.1% to about HKD 19.0 million for the six months ending September 30, 2025, compared to HKD 21.7 million for the same period in 2024[39] - Employee costs, including director remuneration, were approximately HKD 38.6 million for the six months ending September 30, 2025, compared to HKD 48.2 million for the same period in 2024[52] Corporate Governance and Compliance - The audit committee currently consists of two independent non-executive directors, and has reviewed and approved the unaudited condensed consolidated financial statements for the six months ended September 30, 2025[65] - The company has adopted a code of conduct regarding securities trading by directors, with no violations reported for the six months ended September 30, 2025[62] - The board of directors will continuously review corporate governance practices to enhance standards and meet regulatory requirements[61] - The company is committed to improving corporate governance standards in response to increasing expectations from shareholders and stakeholders[59] - The resignation of independent non-executive director Shao Yuming will result in non-compliance with GEM Listing Rules regarding the number of independent directors[60] - The audit committee's composition will be reviewed to ensure compliance with GEM Listing Rules following the resignation of Shao Yuming[60] Share Issuance and Equity - The company issued new shares raising HKD 2,425,000 during the period, contributing to an increase in total equity to HKD 211,733,000[8] - The company issued 63,450,000 shares at an issue price of HKD 0.039 per share, raising net proceeds of approximately HKD 2.42 million[30] Market Position and Future Outlook - The company’s core business remains focused on construction engineering consultancy services, while the IT sector is expected to be a key growth driver moving forward[32] - The company aims to expand its market share through strong client relationships and a stable project pipeline in its core construction consultancy business[33] Other Financial Metrics - The current ratio slightly decreased from approximately 3.4 times as of March 31, 2025, to about 3.3 times as of September 30, 2025[43] - The debt-to-equity ratio as of September 30, 2025, was 1.6%, indicating a healthy and sustainable level of borrowing[43] - There were no significant contingent liabilities as of September 30, 2025[49] - The company had no significant acquisitions or disposals of subsidiaries during the six months ending September 30, 2025[48] Internal Controls and Risk Management - The company has established a comprehensive internal control system, leading to no insurance arrangements for directors' liabilities at this time[59] - The company maintained a prudent treasury policy, ensuring a stable liquidity position throughout the reporting period[44] Dividend Policy - The group did not declare an interim dividend for the six months ended September 30, 2025, consistent with the previous year[23] - The company will not propose an interim dividend for the six months ended September 30, 2025[63] Stock Options - A total of 4,480,895 stock options were granted to directors and employees on October 27, 2025, which have not yet been exercised[64]
NIU HOLDINGS(08619) - 2026 - 中期财报