Financial Performance - The company's revenue increased by 42.7% year-on-year to MOP 592.2 million, compared to MOP 414.8 million in the previous period[13] - Gross profit recorded was MOP 72.8 million, down from MOP 79.0 million in the previous period, resulting in a gross margin of 12.3% compared to 19.0% previously[13] - Net profit remained stable at MOP 54.0 million, slightly down from MOP 54.6 million in the previous period, with a net profit margin of 9.1% compared to 13.2% previously[13] - The company's revenue increased by 177.3 million MOP or 42.7% to 592.2 million MOP, with 209.3 million MOP contributed from steel structure sales and processing[23] - The gross profit for the period was 72.8 million MOP, a decrease of 7.8% year-on-year, with the gross profit margin dropping from 19.0% to 12.3%[27] - The construction business revenue decreased by 32.3 million MOP or 7.8%, primarily due to significant progress made in large projects in the previous year[24] - The company reported a basic and diluted earnings per share of MOP 1.94 for the six months ended June 30, 2022, compared to MOP 2.03 for the same period in 2021[66] - The company reported a total profit before tax of MOP 59,295,000 for the six months ended June 30, 2022, compared to MOP 63,235,000 for the same period in 2021[86] - The company reported a profit of MOP 51,910 thousand for the period, contributing to a total comprehensive income of MOP 47,704 thousand[71] Business Operations and Expansion - The company secured contracts for various construction and renovation projects, including a contract valued at approximately MOP 380 million for structural engineering services for a new integrated resort[14] - The company diversified its business by entering the steel structure sector, involving the sale and processing of metal materials[11] - The company is also engaged in providing electric vehicle charging solutions, including the supply and installation of charging devices and infrastructure[11] - The company renewed three facility management service agreements for energy centers and mechanical, electrical, and plumbing systems for several hotel complexes[14] - The company's operating income from construction and renovation projects is expected to contribute significantly to future revenue growth[14] - The company plans to continue expanding its market presence and exploring new business opportunities in the construction and engineering sectors[11] - The company plans to expand its electric vehicle charging business and battery production into other cities in the Guangdong-Hong Kong-Macao Greater Bay Area, enhancing its market competitiveness[58] - The company has successfully secured land use rights in Jiangmen, Guangdong Province, to establish a production facility, thereby extending its business into manufacturing[59] - The company is actively involved in major urban infrastructure projects in Macau, which are expected to create significant demand for construction services[57] - The company is developing various charging systems and smart charging networks to meet the needs of different drivers in Macau and the Greater Bay Area, aligning with national carbon neutrality goals[58] Financial Position and Assets - The total value of uncompleted contracts as of June 30, 2022, amounted to MOP 884 million[14] - As of June 30, 2022, the group's current assets net value was MOP 408.0 million, up from MOP 386.5 million on December 31, 2021, with a current ratio of 1.9 times[36] - The total cash and bank balance as of June 30, 2022, was MOP 145.8 million, down from MOP 224.8 million on December 31, 2021[36] - The group had unused credit facilities of MOP 187.5 million as of June 30, 2022, with no bank borrowings reported[37] - As of June 30, 2022, total assets amounted to MOP 851,652 thousand, an increase of 37% compared to MOP 621,780 thousand in the previous year[69] - Trade and other receivables rose significantly to MOP 517,619 thousand, up 102% from MOP 256,423 thousand year-on-year[69] - Current liabilities increased to MOP 443,673 thousand, compared to MOP 235,259 thousand in the previous year, reflecting a 88% rise[69] - The net asset value as of June 30, 2022, was MOP 473,909 thousand, up from MOP 447,528 thousand, indicating a growth of 6%[69] - The company’s inventory was reported at MOP 45,806 thousand, with no previous year comparison available[69] Employee and Operational Costs - The total employee costs for the period amounted to MOP 60,392,000, up from MOP 45,791,000 in the previous year, reflecting an increase in salaries and other allowances[97] - Administrative expenses increased by MOP 1.9 million or 12.1%, primarily due to salaries, consultancy fees, and other promotional costs related to the electric vehicle charging business and steel structure metal materials trading and processing[33] - The group’s accrued employee costs were MOP 10,775,000 as of June 30, 2022, down from MOP 15,164,000 as of December 31, 2021, reflecting a decrease of approximately 29%[126] Shareholder and Equity Information - The company declared an interim dividend of HKD 1.5 per share for the six months ended June 30, 2022, totaling approximately HKD 40,097,000, compared to HKD 2.8 per share and HKD 49,999,000 for the same period in 2021[102] - The group issued 891,039,150 new shares as bonus shares on June 29, 2022, based on a ratio of one bonus share for every two existing shares held[137] - The company has no preferential rights for existing shareholders to subscribe for new shares according to its articles of association[163] - As of June 30, 2022, Mr. Guo and Mr. Su each held 1,352,160,000 shares, representing approximately 50.58% of the total issued shares of 2,673,117,550[166][167] - Major shareholder Mr. Kwan held 335,475,000 shares, representing approximately 12.55% of the total issued shares[173][174] Tax and Compliance - Income tax expenses decreased by MOP 3.4 million or 39.2%, mainly due to a reduction in gross profit and a reversal of an overprovision from previous years amounting to MOP 1.8 million[34] - The company incurred a tax expense of MOP 7,022,000 for the six months ended June 30, 2022, compared to MOP 8,641,000 in the same period of 2021[92] - The company has unutilized tax losses of MOP 7,131,000 available to offset future profits, with losses expiring in 2024 to 2027 totaling MOP 6,106,000[95] Corporate Governance - The company established an audit committee consisting of three independent non-executive directors, with Ms. Chen Bao-yi as the chairperson, who possesses the appropriate professional qualifications as per listing rules[179] - The audit committee and external auditor Deloitte reviewed the group's accounting principles and practices, as well as the condensed consolidated financial statements for the six months ended June 30, 2022[180]
澳能建设(01183) - 2022 - 中期财报