Financial Performance - Total revenue for the six months ended September 30, 2022, was HK$83,557,000, an increase from HK$68,486,000 in the same period of 2021, representing a growth of approximately 22%[10] - Gross profit for the period was HK$26,685,000, with a cost of sales amounting to HK$56,872,000[10] - Profit before tax was reported at HK$7,534,000, compared to a loss in the previous period[10] - Basic earnings per share for the period was 0.85 HK cents, reflecting a positive performance compared to the previous period[10] - The total comprehensive income for the period was HK$5,842,000, which includes exchange differences arising from the translation of foreign operations[10] - The company reported a profit for the period of HK$7,367,000, contributing to total comprehensive income of HK$5,842,000 for the six months ended September 30, 2022[19] - The Group recorded a net profit of approximately HK$7.4 million for the six months ended 30 September 2022, a significant increase from approximately HK$0.1 million in the same period last year[164] - Profit attributable to owners of the Company was approximately HK$7.4 million in 1H2023, a substantial increase from HK$0.1 million in 1H2022[172] Revenue Breakdown - Total revenue for the six months ended September 30, 2022, was HK$83,557,000, with leasing revenue contributing HK$72,385,000 and trading revenue contributing HK$11,172,000[51] - Revenue from external customers for leasing increased from HK$54,747,000 in the previous year to HK$72,385,000, representing a growth of approximately 32%[61] - The Group's external revenue for the six months ended 30 September 2022 was HK$83,557,000, an increase of 22% compared to HK$68,486,000 for the same period in 2021[72] - Revenue from Hong Kong increased to HK$77,911,000 in 2022 from HK$62,039,000 in 2021, representing a growth of 25.6%[72] - The Group earned approximately HK$58,249,000 from leasing machinery during the period, down from approximately HK$97,436,000 for the year ended 31 March 2022[160] - For 1H2023, the Group recorded revenue of approximately HK$83.6 million, representing an increase of approximately 22.0% compared to HK$68.5 million for 1H2022[172] - Leasing income from equipment rose to approximately HK$58.3 million in 1H2023, up from approximately HK$46.5 million in 1H2022, reflecting a significant increase in demand from construction projects[192][196] Expenses and Costs - Administrative expenses were reported at HK$8,622,000, while selling and distribution expenses were HK$17,780,000[10] - The company incurred finance costs of HK$682,000 during the period[10] - Total staff costs increased to HK$26,358,000 for the six months ended 30 September 2022, up from HK$22,341,000 in 2021, representing an increase of approximately 18.0%[89] - The cost of inventories recognized as expenses decreased to HK$4,234,000 in 2022 from HK$9,289,000 in 2021, a reduction of about 54.4%[89] Assets and Liabilities - As of September 30, 2022, total assets amounted to HK$244,130,000, an increase from HK$239,555,000 as of March 31, 2022, reflecting a growth of approximately 2.4%[15] - Net current assets increased to HK$38,400,000 from HK$36,233,000, representing a growth of about 5.9%[15] - Total equity as of September 30, 2022, was HK$218,101,000, up from HK$212,259,000 as of March 31, 2022, indicating an increase of approximately 2.6%[15] - Current liabilities decreased to HK$74,338,000 from HK$79,115,000, showing a reduction of about 6.5%[15] - The company’s borrowings due within one year decreased to HK$22,569,000 from HK$25,213,000, a reduction of approximately 10.4%[15] Cash Flow - Net cash from operating activities increased to HK$27,837,000 in 2022 from HK$19,996,000 in 2021, representing a growth of approximately 39%[27] - Net cash used in investing activities was HK$(18,262,000) in 2022, compared to HK$(1,875,000) in 2021, indicating a significant increase in cash outflow[27] - The net cash used in financing activities was HK$(9,906,000), indicating a higher cash outflow compared to the previous period[27] - Cash and cash equivalents at the end of the period decreased to HK$54,614,000 from HK$60,057,000, reflecting a decline of approximately 9%[27] Strategic Focus and Market Conditions - The interim report indicates a strategic focus on expanding leasing services and improving operational efficiency[10] - The Group's strategic focus includes expanding its leasing and trading segments to enhance overall revenue growth and market presence[49] - The Group aims to enhance its service professionalism and increase revenue through the Smart System in Mobile Electricity concept[175] - The introduction of 30,000 new "Light Public Housing" units in Hong Kong over the next five years is expected to drive increased demand for construction works[186][187] Impairment and Losses - The company recognized impairment losses of HK$1,786,000 on property, plant, and equipment[10] - Impairment losses recognized on lease receivables and trade receivables amounted to HK$8,622,000, with HK$8,335,000 attributed to lease receivables[65] - Impairment losses under the expected credit loss model increased to approximately HK$8.6 million in 1H2023, up from a reversal of approximately HK$0.2 million in 1H2022, due to higher expected default risks[167] Government Support - The Group recognized government subsidies of HK$2,603,000 to support employment during the Covid-19 pandemic[77] - The Group received government subsidies of approximately HK$2.1 million from Hong Kong and approximately HK$0.5 million from Macau related to the Covid-19 pandemic in 1H2023, compared to nil in 1H2022[166]
亚积邦租赁(01496) - 2023 - 中期财报