Revenue Performance - Total revenue decreased by approximately HK$8.6 million, or approximately 6.2%, from approximately HK$137.4 million for the six months ended September 30, 2021, to approximately HK$128.8 million for the current period[33]. - Revenue from leasing of construction machinery decreased by approximately HK$10.6 million, or approximately 14.7%, from approximately HK$72.0 million for the previous period to approximately HK$61.4 million for the current period[34]. - The decrease in total revenue was mainly due to lower income from leasing, trading, and property management businesses, partially offset by an increase in retail business income[33]. - Revenue from construction machinery leasing decreased by approximately HK$10.6 million, or 14.7%, to approximately HK$61.4 million due to reduced construction activities in China[37]. - Revenue from trading of construction machinery fell by approximately HK$13.2 million, or 70.2%, to approximately HK$5.6 million, primarily due to adverse market conditions in Hong Kong[40]. - Revenue from property management services decreased by approximately HK$7.6 million, or 18.2%, to approximately HK$34.3 million, attributed to management fee concessions provided to tenants due to poor retail market conditions in the PRC[42]. - Revenue from property leasing and subletting increased by approximately HK$24.5 million, or 804%, to approximately HK$27.5 million, mainly due to the acquisition of a retail business[43]. - Total revenue for the six months ended September 30, 2022, was HK$128,790,000, a decrease of 6% compared to HK$137,372,000 in 2021[121]. - Revenue from leasing of machinery and related services was HK$61,417,000, down 14.7% from HK$72,003,000 year-over-year[163]. - Sales of machinery and spare parts generated HK$5,592,000, a significant decline of 70.2% compared to HK$18,776,000 in the previous year[163]. - Property management services revenue decreased to HK$34,285,000 from HK$41,917,000, reflecting an 18.2% drop[163]. - Property leasing, subletting, and retail revenue increased to HK$27,496,000, a substantial rise from HK$3,042,000, marking an increase of 804.5%[163]. Financial Performance - Gross profit decreased to HK$17.2 million from HK$58.6 million, with gross profit margin dropping to approximately 13.3% from 42.6% due to poor market conditions and higher costs[49]. - The company reported a net loss of HK$29.4 million for the period, compared to a net profit of HK$38.4 million in the previous period[52]. - Profit from operations was a loss of HK$23,170,000, compared to a profit of HK$46,320,000 in the previous year[121]. - Profit for the period attributable to equity holders of the Company was a loss of HK$29,446,000, compared to a profit of HK$38,372,000 in 2021[123]. - Total comprehensive income for the period was a loss of HK$29,332,000, compared to a gain of HK$40,640,000 in the previous year[123]. - Basic and diluted earnings per share for profit attributable to equity holders was HK(0.47) cents, down from HK0.62 cents in 2021[123]. - The company reported a total segment profit of HK$55,514,000 for the six months ended September 30, 2021, indicating a significant decline in profitability year-over-year[182]. - Segment profit for trading was a loss of HK$8,226,000, while leasing reported a loss of HK$6,962,000, leading to a total segment loss of HK$18,374,000[173]. Expenses and Costs - Selling expenses increased by approximately HK$1.6 million, or 111%, to approximately HK$3.2 million, primarily due to increased staff salaries in the selling department[49]. - Administrative expenses rose by approximately HK$24.5 million, or 164%, to approximately HK$39.5 million, mainly due to higher depreciation expenses from obsolete leasing machineries[49]. - Total cost of sales and services, selling and administrative expenses increased to HK$154,308,000 for the six months ended September 30, 2022, compared to HK$95,295,000 in 2021, representing a growth of 62%[195]. - Staff costs, including directors' emoluments, rose to HK$30,920,000 in 2022 from HK$21,214,000 in 2021, marking an increase of 46%[195]. - Depreciation for owned machinery and equipment significantly increased to HK$52,415,000 in 2022, up from HK$17,469,000 in 2021, reflecting a rise of 200%[195]. - Income tax expenses for the six months ended September 30, 2022, were HK$6,191,000, down from HK$11,580,000 in 2021, indicating a decrease of 47%[199]. Assets and Liabilities - Total assets as of September 30, 2022, were HK$556,847,000, a decrease from HK$613,462,000 as of March 31, 2022[126]. - Total liabilities as of September 30, 2022, amount to HK$116,521, down from HK$125,540 as of March 31, 2022, showing a decrease of approximately 7.5%[130]. - Cash and cash equivalents at the end of the period are HK$41,419, down from HK$111,812 in 2021, representing a decrease of approximately 63.0%[136]. - The company’s reserves decreased from HK$475,587 as of March 31, 2022, to HK$428,270 as of September 30, 2022, a decline of approximately 9.9%[130]. - Current liabilities increased to HK$70,678 as of September 30, 2022, from HK$76,473 in the previous year, indicating a decrease of approximately 7.3%[130]. - Borrowings under current liabilities decreased from HK$9,513 to HK$7,959, a reduction of approximately 16.3%[130]. Strategic Initiatives and Market Conditions - The Group will continue to employ low leverage to navigate challenging market conditions, including higher interest rates and geopolitical tensions[32]. - The overall market conditions in Hong Kong and the PRC were challenging during the period due to various external factors[32]. - The Group is exploring potential opportunities to create long-term value for shareholders despite the current market challenges[32]. - The Group aims to continue its strategic initiatives to enhance its market position and operational efficiency[32]. - The long-term prospect of the Greater Bay Area is expected to remain positive, driven by robust demand from a sizable population and supportive government policies[32]. - The company is focusing on enhancing its property leasing and management services as part of its strategic expansion efforts[164]. Share Capital and Corporate Governance - The total issued share capital of the Company was approximately HK$12.4 million, representing 6,195,000,000 ordinary shares[58]. - As of September 30, 2022, the total number of issued shares was 6,195,000,000[109]. - Boardwin Resources Limited beneficially owned 3,804,096,000 shares, representing approximately 61.41% of the issued share capital of the Company[116]. - The Board does not recommend the payment of any interim dividend to shareholders for the period[94]. - The Audit Committee comprises three independent non-executive Directors as of the date of approval of the interim report[101]. - The unaudited interim condensed consolidated financial statements have been reviewed by the Audit Committee[101].
兆邦基生活(01660) - 2023 - 中期财报