Revenue and Financial Performance - The overall revenue for the period amounted to HK$1,622.04 million, representing an increase of approximately 11.07% compared to HK$1,460.43 million for the corresponding period last year[17]. - Revenue for the six months ended 30 June 2022 increased by approximately HK$161.61 million, or 11.07%, from HK$1,460.43 million to HK$1,622.04 million[51]. - Revenue from general building business amounted to HK$1,288.69 million, while civil engineering business generated HK$226.17 million, representing approximately 79.45% and 13.94% of total revenue, respectively[45]. - Revenue from other services, including property management and maintenance, accounted for approximately 6.61% of total revenue, up from 5.90% in the previous year[46]. - Revenue from general building business increased by approximately HK$97.79 million, or approximately 8.21%, from HK$1,190.90 million for the six months ended 30 June 2021 to HK$1,288.69 million for the six months ended 30 June 2022[53]. - Revenue from civil engineering business increased by approximately HK$42.70 million, or approximately 23.27%, from HK$183.47 million for the six months ended 30 June 2021 to HK$226.17 million for the six months ended 30 June 2022[54]. - Revenue from other services amounted to HK$107.18 million for the six months ended 30 June 2022, representing 6.61% of the total revenue of the Group, compared to HK$86.06 million and 5.90% for the same period in 2021[55]. - Revenue for the six months ended June 30, 2022, was HKD 1,622,035, an increase of 11.06% compared to HKD 1,460,430 in 2021[146]. Project and Contract Information - As of June 30, 2022, the company had a total of 12 general building works projects and 18 civil engineering works projects on hand, with a total original contract sum of approximately HK$15 billion[20]. - The outstanding value of projects on hand as of June 30, 2022, was approximately HK$8.0 billion, up from HK$6.3 billion as of December 31, 2021[20]. - The company has ongoing projects with a total contract sum of HK$3,740.0 million for public rental housing development, expected to complete in October 2022[31]. - A new project for the construction of non-public housing facilities has a contract sum of HK$1,497.0 million, with completion expected in December 2024[31]. - The company is managing and maintaining roads in Kowloon East, with a contract sum of HK$482.6 million, expected to complete in March 2024[31]. - The construction of public rental housing and subsidized sale flats has a combined contract sum of HK$5,651.0 million, with significant revenue contributions expected in the upcoming periods[31]. - The ongoing projects include electrical and mechanical works for sewage treatment facilities, with a contract sum of HK$557.6 million, expected to complete in May 2024[31]. Profitability and Gross Profit - Overall gross profit decreased by HK$28.46 million, or approximately 55.67%, from HK$51.12 million for the six months ended 30 June 2021 to HK$22.66 million for the six months ended 30 June 2022[63]. - Overall gross profit margin decreased from 3.50% for the six months ended 30 June 2021 to 1.40% for the six months ended 30 June 2022[64]. - Profit attributable to the equity shareholders of the Company for the six months ended 30 June 2022 was HK$13.15 million, compared to HK$9.29 million for the same period in 2021[68]. - Profit for the period increased to HKD 13,743, representing a 39.45% increase from HKD 9,823 in 2021[150]. - Total comprehensive income for the period was HKD 13,742, slightly down from HKD 9,825 in 2021[150]. - Total comprehensive income for the six months ended 30 June 2022 was HKD 13,152,000, compared to HKD 9,825,000 for the same period in 2021, representing a growth of 34%[164]. - Profit for the period increased to HKD 13,152,000 in 2022 from HKD 9,291,000 in 2021, marking a year-on-year increase of 42%[164]. Financial Position and Ratios - As at 30 June 2022, the capital structure consisted of equity of HK$376.84 million and bank loans of HK$90.00 million[69]. - As at 30 June 2022, the current ratio of the Group was 1.27, compared to 1.20 as of 31 December 2021[70]. - The Group's cash and cash equivalents were HK$261.90 million as of June 30, 2022, compared to HK$236.84 million as of December 31, 2021[75]. - The current ratio of the Group improved to 1.27 as of June 30, 2022, up from 1.20 as of December 31, 2021[75]. - The Group's gearing ratio was 23.88% as of June 30, 2022, compared to 21.86% as of December 31, 2021[85]. - The Group had approximately HK$1,914 million of unutilized banking facilities as of June 30, 2022, slightly down from HK$1,917 million as of December 31, 2021[83]. - The Group's total equity at 30 June 2022 was HKD 376,243,000, compared to HKD 375,410,000 at 30 June 2021[164]. Corporate Governance and Compliance - The Company has not established a standalone internal audit department but has implemented adequate measures for internal audit functions[101]. - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers and confirmed compliance by all Directors during the Period[110]. - The Company will continue to review its corporate governance practices to enhance standards and meet shareholder expectations[103]. - The Company maintains compliance with corporate governance standards as outlined in the SFO[136]. - The Board believes that the current management structure is effective for the Group's operations[103]. Future Outlook and Challenges - The company anticipates continued growth in revenue driven by its general building and civil engineering sectors, supported by a robust project pipeline[51]. - The Company anticipates continued pressure on profit margins due to the ongoing impact of COVID-19 on the local and global economy[97]. - The Board remains confident in the Group's future development despite ongoing pressures on profit margins due to COVID-19[96]. - The Company expects the Hong Kong government to implement more relief measures to alleviate financial burdens caused by COVID-19[97]. Employee and Remuneration Information - The total remuneration for the six months ended June 30, 2022, was approximately HK$245 million for 1,531 employees[93]. Shareholder Information - As of June 30, 2022, Mr. Chan Ki Chun beneficially owned 97,599 shares of Sun Fook Kong Group Limited, representing a significant interest[125]. - The substantial shareholders include SFK Group with 300,000,000 shares, representing approximately 71.39% ownership, and other entities such as Good Target and Ocean Asset[130]. - Mr. Lo Kai Shui holds a beneficial interest in 300,000,000 shares through controlled corporations, indicating a strong position in the company[130]. - As of June 30, 2022, no other directors or executives had registered interests or short positions in the shares of the company or its associated corporations[126]. Cash Flow and Investments - Net cash generated from operating activities was HKD 41,441,000 for the six months ended June 30, 2022, compared to a net cash used of HKD 21,265,000 in 2021[167]. - The company reported a net cash used in investing activities of HKD 2,133,000 for the six months ended June 30, 2022, compared to a net cash generated of HKD 128,000 in 2021[167]. - The capital element of lease rentals paid was HKD 7,753,000 in 2022, a decrease from HKD 13,406,000 in 2021[167]. Miscellaneous - The company is engaged in construction and maintenance projects in Hong Kong and Macau, as well as property management services[176]. - The interim financial report was approved for issue by the Board of Directors on 26 August 2022[180]. - The company has not disclosed any new strategies or market expansions during the reporting period[124]. - The report does not indicate any new product developments or technological advancements[124]. - The company has not purchased, sold, or redeemed any of its listed securities during the Period[118].
新福港(01447) - 2022 - 中期财报