Financial Performance - The Group's revenue for the six months ended September 30, 2022, was approximately HK$182.2 million, a decrease of 4.7% compared to HK$191.2 million for the same period in 2021[13][17]. - Profit attributable to the owners of the Company for the Period was approximately HK$35.2 million, a significant improvement from a loss of approximately HK$28.9 million in the same period of 2021[13][17]. - Basic and diluted earnings per share for the Period amounted to approximately HK cent 0.66, compared to a loss of approximately HK cent 0.54 per share for the six months ended September 30, 2021[13][18]. - Gross profit for the Period amounted to approximately HK$86.7 million, representing an increase of approximately 803.1% compared to approximately HK$9.6 million for the corresponding period in 2021[57]. - The gross profit margin increased by 42.6 percentage points to approximately 47.6% for the Period from approximately 5.0% for the same period last year[57]. - The Group recorded a net profit attributable to the owners of the Company of approximately HK$35.2 million for the Period, compared to a loss of approximately HK$28.9 million for the corresponding period in 2021, mainly due to increased revenue from proprietary trading in digital assets[74]. - The company reported a total comprehensive profit of HK$34,259,000 for the period, compared to a total comprehensive loss of HK$28,475,000 in the prior year[131]. - Profit for the period was HK$34,838,000, a significant recovery from a loss of HK$28,976,000 in the same period last year[131]. Revenue Sources - The Group's major sources of revenue include foundation and building construction works, construction waste handling services, digital assets related businesses, and technical services[15][19]. - Revenue from foundation and building construction works segment was approximately HK$84.8 million, a decrease of approximately 18.1% compared to HK$103.5 million in the corresponding period in 2021[22]. - Revenue from construction wastes handling services was approximately HK$1.7 million, a decrease of approximately 97.9% from HK$81.4 million in the corresponding period in 2021, resulting in a gross loss of approximately HK$1.2 million[22]. - Revenue generated from the provision of trust and custody services was approximately HK$1.7 million, which decreased approximately 32.0% compared to approximately HK$2.5 million for the corresponding period in 2021[47]. - Revenue from the Group's technical services segment amounted to approximately HK$23.1 million, increased by approximately 171.8% compared to approximately HK$8.5 million for the corresponding period in 2021[49]. - Revenue from trading in digital assets and net fair value changes on digital assets was approximately HK$71.4 million during the period[38]. - Total external revenue for the period ended September 30, 2022, was HK$182,174,000, with contributions from foundation and building construction works (HK$84,840,000), construction waste handling services (HK$1,673,000), digital assets related businesses (HK$73,112,000), technical services (HK$23,079,000), and other businesses (loss of HK$530,000)[192]. Assets and Liabilities - As of September 30, 2022, the Group's total assets amounted to approximately HK$1,512.4 million, and total liabilities were approximately HK$1,311.5 million, resulting in a debt ratio of approximately 86.7%[77]. - The gearing ratio of the Group as of September 30, 2022 was approximately 89.2%, an increase from approximately 61.6% as of March 31, 2022, mainly due to a loan of US$10.0 million borrowed at an interest rate of 2.0% per annum[77]. - The total assets as of September 30, 2022, amounted to HK$1,512,366,000, up from HK$997,334,000 as of March 31, 2022[135]. - Total liabilities as of September 30, 2022, were HK$1,311,484,000, including HK$1,065,331,000 in liabilities related to digital assets[194]. Digital Assets - The market value of the Group's digital assets as of September 30, 2022, was approximately HK$1,177.5 million, up from approximately HK$560.1 million on March 31, 2022[38]. - The Group borrowed loans from the trading platform in forms of digital assets, with a fair value of approximately HK$420.4 million at the end of the period[38]. - The Group's digital assets, valued at approximately HK$631.0 million as of 30 September 2022, served as collateral for borrowings, which were interest-free and repayable on demand[77]. - The net fair value change on digital assets was HK$71,367,000 for the period, compared to a loss of HK$6,253,000 in the previous year[178]. - The company is focused on expanding its digital assets related businesses, which include proprietary trading and trust and custody services[192]. - Future strategies may involve further development of blockchain technology services, including security audits and related services[192]. Corporate Governance and Compliance - The Board does not recommend the payment of any interim dividend for the Period, consistent with the previous year[14][18]. - The Company has maintained compliance with the Corporate Governance Code, except for the deviation where the roles of Chairman and Chief Executive Officer are held by the same individual, Mr. Ren Yunan[112]. - The Audit Committee, comprising three independent non-executive Directors, has reviewed the unaudited condensed consolidated financial information for the period and found it compliant with applicable accounting standards and legal requirements[125]. - The Company expresses gratitude to staff, shareholders, and customers for their support and contributions[126]. - The Company will continue to review its corporate governance practices to protect shareholders' interests[114]. Staff and Operations - As of September 30, 2022, the Group employed a total of 92 staff, down from 141 staff as of March 31, 2022[88]. - Total staff costs, including directors' emoluments, amounted to approximately HK$56.2 million, compared to approximately HK$54.9 million for the same period in 2021[88]. - The Group's administrative and other operating expenses for the Period amounted to approximately HK$42.2 million, representing a decrease of approximately 8.9% compared to HK$46.3 million for the corresponding period in 2021, mainly due to effective cost control measures[66]. Future Outlook - The Group is committed to optimizing its business structure and promoting proprietary investment in digital assets for sustainable development[85]. - The Group aims to enhance its operational efficiency and profitability through better resource allocation and segment performance assessment[188]. - Future outlook includes potential growth in the digital assets sector, supported by ongoing investments in technology and market expansion strategies[194].
欧科云链(01499) - 2023 - 中期财报