Financial Performance - The total revenue for the period was approximately HKD 149,647,000, an increase of about HKD 36,628,000 or 32.4% compared to HKD 113,019,000 for the same period last year[8]. - Gross profit for the period was approximately HKD 21,736,000, with a gross profit margin of about 14.5%, compared to HKD 15,987,000 and 14.1% for the same period last year[10]. - The net profit for the period was approximately HKD 6,287,000, compared to HKD 5,390,000 for the same period last year[16]. - Operating profit increased to HKD 8,055,000, a rise of 27.1% from HKD 6,338,000 in the previous year[52]. - The company reported a total comprehensive income of HKD 6,287,000 for the period, up from HKD 5,390,000 in 2021[52]. - Basic and diluted earnings per share for the period were HKD 0.92, compared to HKD 0.79 in the same period last year[52]. - For the six months ended September 30, 2022, the company reported a profit attributable to equity holders of HKD 6,287,000, compared to HKD 5,390,000 for the same period in 2021, representing an increase of approximately 16.7%[84]. Income and Expenses - Other income increased by approximately 152.4% to HKD 5,478,000, primarily due to government subsidies from the "Employment Support Scheme" amounting to HKD 2,526,000[12]. - Administrative expenses decreased by approximately HKD 315,000 or 2.6% to HKD 11,816,000 due to effective cost control by management[14]. - Employee expenses, including director remuneration, amounted to HKD 30,063,000 for the six months ended September 30, 2022, compared to HKD 21,183,000 in the same period last year, reflecting a year-on-year increase of approximately 42%[76]. - Financing costs for the six months ended September 30, 2022, totaled HKD 1,768,000, compared to HKD 948,000 in the previous year, indicating an increase of approximately 86%[77]. - The group reported a net loss from the sale of property, plant, and equipment amounting to HKD 7,343,000 for the six months ended September 30, 2022[72]. Assets and Liabilities - As of September 30, 2022, the bank balance was approximately HKD 31,769,000, an increase from HKD 14,342,000 as of March 31, 2022[17]. - Total assets as of September 30, 2022, were HKD 191,471,000, compared to HKD 198,168,000 as of March 31, 2022[53]. - The net asset value increased to HKD 172,549,000 from HKD 166,262,000 as of March 31, 2022[54]. - The total carrying value of bank loans as of September 30, 2022, is approximately HKD 76,208,000, an increase from HKD 63,095,000 as of March 31, 2022, representing a growth of 20.5%[101]. - Trade receivables decreased to HKD 13,139,000 as of September 30, 2022, from HKD 20,975,000 as of March 31, 2022, representing a decline of about 37.4%[93]. - Trade payables decreased to HKD 18,026,000 as of September 30, 2022, from HKD 22,843,000 as of March 31, 2022, reflecting a decline of 21.3%[103]. Capital and Shareholder Information - The major shareholder, Creative Elite Global Limited, holds 495,000,000 shares, representing 72.29% of the company's equity[27]. - The board has decided not to declare an interim dividend for the six months ending September 30, 2022[40]. - The company’s issued and fully paid ordinary shares remain at 684,750,000 shares as of both September 30, 2022, and March 31, 2022[105]. Corporate Governance and Outlook - The board maintains a cautiously optimistic outlook for the business, anticipating stable demand for foundation engineering in Hong Kong[7]. - The board emphasizes a commitment to high standards of corporate governance, adhering to all applicable codes during the reporting period[41]. - The company has not engaged in any buybacks, sales, or redemptions of its listed securities during the reporting period[34]. Employment and Labor Relations - As of September 30, 2022, the group employed 85 staff members, with total compensation costs amounting to approximately HKD 30,063,000, compared to HKD 21,183,000 for the same period in 2021, reflecting a year-on-year increase of 42.03%[24]. - There were no significant labor disputes or difficulties in recruiting and retaining experienced staff during the reporting period[24]. - The remuneration for directors and key management personnel for the six months ended September 30, 2022, is approximately HKD 3,681,000, a decrease from HKD 4,062,000 for the same period last year[108]. Capital Expenditures - Capital expenditures for property, plant, and equipment amounted to approximately HKD 28,820,000 for the six months ended September 30, 2022, compared to HKD 16,818,000 for the same period in 2021, indicating a significant increase of about 71.5%[86]. - The company has no capital commitments as of September 30, 2022, a decrease from HKD 24,220,000 as of March 31, 2022[25].
上谕集团(01633) - 2023 - 中期财报