Financial Performance - Revenue from continuing operations increased by approximately 5.8% from HK$144.0 million for the year ended September 30, 2024, to HK$152.4 million for the year ended September 30, 2025[3]. - Gross profit rose by approximately 18.2% from HK$9.9 million for the year ended September 30, 2024, to HK$11.7 million for the year ended September 30, 2025[3]. - Gross margin improved from approximately 6.9% for the year ended September 30, 2024, to approximately 7.7% for the year ended September 30, 2025[3]. - The annual loss for the year ended September 30, 2025, was approximately HK$12.0 million, compared to a loss of approximately HK$10.1 million for the year ended September 30, 2024[3]. - Basic and diluted loss per share for continuing and discontinued operations was approximately HK$1.50 for the year ended September 30, 2025, compared to HK$1.26 for the year ended September 30, 2024[6]. - The group reported a pre-tax loss of HKD 11,972,000 for the fiscal year ending September 30, 2025, compared to a pre-tax loss of HKD 10,016,000 in the previous year[19]. - The group recorded a net profit of approximately HKD 13.3 million from discontinued operations for the year ending September 30, 2024, primarily due to the sale of a subsidiary engaged in health management[43]. - Net loss increased by approximately HKD 1.9 million to about HKD 12.0 million for the year ending September 30, 2025, compared to a net loss of about HKD 10.1 million for the year ending September 30, 2024[44]. Assets and Liabilities - Total assets decreased from HK$64.1 million as of September 30, 2024, to HK$49.2 million as of September 30, 2025[7]. - Total liabilities decreased from HK$29.4 million as of September 30, 2024, to HK$26.5 million as of September 30, 2025[8]. - Cash and cash equivalents decreased from HK$32.6 million as of September 30, 2024, to HK$22.4 million as of September 30, 2025[7]. - Trade receivables decreased from HKD 16,841,000 in 2024 to HKD 10,580,000 in 2025, reflecting a reduction in outstanding amounts[30]. - Trade payables decreased from HKD 12,595,000 in 2024 to HKD 6,715,000 in 2025, indicating improved cash flow management[32]. - The group's net current assets were approximately HKD 23.4 million as of September 30, 2025, down from about HKD 34.9 million as of September 30, 2024[49]. - The capital debt ratio increased to approximately 15.6% as of September 30, 2025, compared to about 8.5% as of September 30, 2024[50]. Revenue Breakdown - The revenue breakdown includes HKD 38,477,000 from foundation and site preparation works, HKD 45,493,000 from general construction and related services, and HKD 60,790,000 from other construction works[18]. - The construction segment of foundation and site formation engineering contributed HKD 38.5 million or 25.2% to total revenue, while general construction and related services contributed HKD 45.5 million or 29.9%[38]. - The group's revenue for the fiscal year ending September 30, 2025, was HKD 152,394,000, an increase from HKD 143,956,000 in the previous year, representing a growth of approximately 5.3%[14]. - The group's revenue increased by approximately HKD 8.4 million or 5.8% to about HKD 152.4 million for the year ending September 30, 2025, compared to HKD 144.0 million for the previous year[38]. - The group's revenue from Hong Kong for the fiscal year ending September 30, 2025, was HKD 152,394,000, while revenue from discontinued operations in China was HKD 17,053,000 in the previous year[20]. Operational Focus - The company continues to engage in foundation and site formation works, general building works, and related services, indicating ongoing operational focus[9]. - The group has 20 ongoing construction projects, with significant projects including slope works in North Fanling and site formation works in Tseung Kwan O, expected to complete between 2025 and 2026[35][36]. - The company has ceased its health management business in China following the sale of its subsidiary for HKD 50,000, focusing solely on construction projects in Hong Kong[36]. Cost Management - The group’s administrative and other operating expenses for the fiscal year ending September 30, 2025, were HKD 26,377,000, compared to HKD 73,291,000 in the previous year[18]. - Administrative and other operating expenses decreased by approximately HKD 6.9 million or 20.7% to about HKD 26.4 million for the year ending September 30, 2025[42]. - The group’s financial performance was affected by depreciation expenses, including HKD 281,000 for right-of-use assets and HKD 18,843,000 for employee benefits, including director remuneration[21]. - Total employee costs for the year ending September 30, 2025, were approximately HKD 18.8 million, down from about HKD 43.8 million for the year ending September 30, 2024[56]. Future Plans and Investments - The company has upgraded its accounting system to enhance document preparation, while the upgrade of the human resources management system is still in progress due to the lack of suitable options identified[60]. - The company has purchased a drilling rig, a rock drilling machine, two small piling machines, and four air compressors as part of its operational expansion[57]. - The company has increased the capital of two subsidiaries, Po Cheng Construction Co., Ltd. and Wong On Construction Co., Ltd., to support operational funding requirements[57]. - The company has recruited additional personnel, including two project managers, two project engineers, and other specialists to enhance its human resources[57]. - The company has allocated HKD 21.8 million for the initial costs of three construction projects, which have been fully utilized[64]. - The company plans to utilize the remaining net proceeds by September 30, 2026, in accordance with the IPO prospectus and the announcement of the use of proceeds[65]. - The company has upgraded its engineering and design systems to facilitate project planning, design, and management through automation[61]. - The company has maintained a prudent cash management policy to ensure a strong liquidity position for future growth opportunities[66]. Audit and Compliance - The Audit Committee held two meetings during the year ending September 30, 2025, to review the annual and interim financial performance and internal control systems[73]. - The independent auditor confirmed that the consolidated financial statements for the year ending September 30, 2025, comply with applicable accounting standards and listing rules[74]. - The independent auditor issued a qualified opinion due to insufficient audit evidence regarding the financial performance and cash flows of the disposed subsidiary, Daywin Group, for the period leading up to its sale[75]. - The management believes that the qualified opinion will not have a continuing impact on the consolidated financial statements due to the sale of Daywin Group[79]. - The Audit Committee agrees with the management's view that the qualified opinion will not affect the ongoing financial statements of the company[80]. Shareholder Relations - The company expresses gratitude to shareholders, customers, suppliers, and subcontractors for their continued support[81].
成志控股(01741) - 2025 - 年度业绩