Revenue Performance - The group's revenue for the reporting period was approximately HKD 90.2 million, an increase of about 14.4% from HKD 78.8 million in the same period last year [6]. - Revenue from steel and metal engineering services increased by approximately HKD 13.7 million or 18.5% to about HKD 87.7 million [8]. - Revenue from the sale of steel and metal products decreased by approximately HKD 2.3 million or 47.9% to about HKD 2.5 million [9]. - Revenue for the six months ended September 30, 2025, was HKD 90,156,000, an increase of 14.5% compared to HKD 78,794,000 for the same period in 2024 [44]. - Revenue for the six months ended September 30, 2025, was HKD 90,156,000, an increase of 14.4% compared to HKD 78,794,000 for the same period in 2024 [56]. - Revenue from steel and metal engineering services was HKD 87,650,000, up 18.5% from HKD 74,016,000 in the previous year [56]. Financial Performance - The group reported a loss of approximately HKD 5.7 million for the reporting period, compared to a loss of approximately HKD 10.7 million in the same period last year [15]. - The company reported a loss before tax of HKD 5,592,000, an improvement from a loss of HKD 10,368,000 in the previous year, indicating a 46.1% reduction in losses [44]. - The company reported a loss attributable to shareholders of HKD 5,727,000 for the six months ended September 30, 2025, compared to a loss of HKD 10,661,000 for the same period in 2024 [64]. - Gross profit for the same period was HKD 372,000, representing a decrease of 11.0% from HKD 418,000 in 2024 [44]. - The company recorded a tax expense of HKD 135,000, which includes current and deferred tax liabilities [61]. Cash and Liquidity - As of September 30, 2025, the group's total cash and cash equivalents amounted to approximately HKD 45.8 million, up from HKD 31.1 million as of March 31, 2025 [16]. - Cash and cash equivalents increased to HKD 45,798,000 from HKD 17,116,000, showing a significant improvement in liquidity [50]. - Operating cash flow for the six months was HKD 29,728,000, a turnaround from a cash outflow of HKD 26,023,000 in the prior year [50]. - The unutilized proceeds have been deposited in licensed banks in Hong Kong and China as of September 30, 2025 [29]. Assets and Liabilities - Total assets decreased slightly to HKD 134,345,000 from HKD 137,851,000, reflecting a 2.0% decline [46]. - The company’s net assets amounted to HKD 138,075,000, down from HKD 144,508,000, a decrease of 4.5% [47]. - Trade receivables as of September 30, 2025, totaled HKD 15,938,000, a decrease from HKD 23,182,000 as of March 31, 2025 [67]. - Trade payables amounted to HKD 3,327,000 as of September 30, 2025, down from HKD 3,923,000 as of March 31, 2025 [68]. - The aging analysis of trade receivables shows that HKD 6,654,000 is overdue between 31 to 60 days, a significant decrease from HKD 18,678,000 as of March 31, 2025 [67]. - The company’s employee costs payable were HKD 11,644,000 as of September 30, 2025, slightly down from HKD 12,161,000 as of March 31, 2025 [68]. Corporate Governance - The company is committed to appointing a female director within three months following the resignation of a previous board member to comply with listing rules [35]. - The company has adhered to all applicable corporate governance code provisions during the reporting period [38]. - The audit committee, composed entirely of independent non-executive directors, reviewed and approved the financial statements for the reporting period [42]. - The company maintained its public float as per listing rules, ensuring compliance with regulatory requirements [41]. Dividends and Share Capital - The board has resolved not to declare an interim dividend for the reporting period [23]. - No dividends were declared or paid during the reporting period, consistent with the previous period where no dividends were issued [65][66]. - The total issued and paid-up share capital increased to 921,120,000 shares as of September 30, 2025, following the issuance of 153,520,000 shares at a subscription price of HKD 0.054 per share [72]. Other Financial Information - Direct costs for the group were approximately HKD 89.8 million, an increase of about 14.5% from HKD 78.4 million in the same period last year [11]. - Other income and gains increased from approximately HKD 0.1 million to about HKD 4.9 million, mainly due to the reversal of expected credit losses on long-aged trade receivables [14]. - Other income decreased to HKD 485,000 from HKD 644,000, primarily due to a drop in bank interest income [58]. - The company has not adopted any new accounting standards that would significantly impact its financial performance for the reporting period [55]. - The group operates under a fixed-price contract model, primarily serving construction companies and contractors in Hong Kong [56]. - The company has no significant contingent liabilities as of September 30, 2025 [22]. - The company has no unexercised share options remaining as of September 30, 2025, following the cancellation of 6,710,000 options [31]. - The company has a fixed-rate other loan of HKD 1,000,000 with an interest rate of 18%, due for repayment on April 23, 2026 [71].
恒益控股(01894) - 2026 - 中期财报