Financial Performance - Revenue decreased from approximately HKD 149.3 million for the six months ended September 30, 2021, to approximately HKD 98.1 million for the six months ended September 30, 2022, representing a decline of about 34.3%[13]. - Gross profit for the six months ended September 30, 2022, was approximately HKD 12.8 million, down from approximately HKD 16.4 million for the same period in 2021, a decrease of about 22.0%[15]. - The company's profit before tax decreased from approximately HKD 9.9 million for the six months ended September 30, 2021, to approximately HKD 8.8 million for the six months ended September 30, 2022, primarily due to a reduction in gross profit[20]. - The total comprehensive income attributable to the owners of the company decreased from approximately HKD 9.9 million for the six months ended September 30, 2021, to approximately HKD 8.8 million for the six months ended September 30, 2022, reflecting the decrease in profit before tax[21]. - The group reported a profit before tax of HKD 8,820,000 for the six months ended September 30, 2022, down from HKD 9,914,000 in the same period of 2021[110]. - The group did not recommend an interim dividend for the six months ended September 30, 2022, compared to an interim dividend of HKD 39,990,000 for the same period in 2021[120]. Revenue Breakdown - Revenue from renovation and extension engineering services for the six months ended September 30, 2022, was HKD 74,410,000, an increase of 55.3% compared to HKD 47,944,000 for the same period in 2021[104]. - Revenue from civil engineering services for the same period was HKD 23,721,000, a decrease of 76.7% from HKD 101,329,000 in the previous year[104]. - Total revenue for the group for the six months ended September 30, 2022, was HKD 98,131,000, down 34.2% from HKD 149,273,000 in the same period of 2021[110]. Costs and Expenses - Direct costs decreased from approximately HKD 132.9 million for the six months ended September 30, 2021, to approximately HKD 85.4 million for the six months ended September 30, 2022, a reduction of about 35.8%[14]. - Administrative expenses remained relatively stable for the six months ended September 30, 2022, compared to the same period in 2021[19]. - The group’s administrative expenses for the period were HKD 6,030,000, contributing to the overall financial performance[110]. - The total employee costs for the six months ended September 30, 2022, were approximately HKD 11.8 million, down from approximately HKD 14.8 million for the corresponding period in 2021[39]. Assets and Liabilities - Total assets increased to HKD 230,980,000 from HKD 219,798,000, representing a growth of approximately 5.35%[46]. - Cash and cash equivalents rose to HKD 147,468,000, compared to HKD 125,752,000, marking an increase of about 17.28%[89]. - Trade receivables and other receivables decreased to HKD 28,558,000 from HKD 30,408,000, a decline of approximately 6.07%[46]. - Current liabilities rose to HKD 56,032,000 from HKD 53,885,000, reflecting an increase of approximately 3.14%[46]. - The group’s total assets as of September 30, 2022, included trade receivables of HKD 20,020,000, a decrease from HKD 24,180,000 as of March 31, 2022[145]. Cash Flow - Net cash generated from operating activities was HKD 21,878,000, compared to a cash outflow of HKD 13,061,000 in the previous period[90]. - The net cash flow from investing activities was a cash outflow of HKD 162,000, compared to an outflow of HKD 19,284,000 in the previous period[90]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with it since the six months ending September 30, 2022[192]. - The audit committee, established on April 4, 2019, consists of three independent non-executive directors and has reviewed and approved the interim financial results[198]. - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[191]. Shareholding and Management - The company has a significant shareholding structure, with Mr. Lau Yong Hang holding 465,000,000 shares, representing 75% of the controlled corporation's equity[172]. - Mr. Tang Wing Kwok holds 69.48% of the issued share capital of the controlling corporation, which in turn holds 52.11% of the company's equity[179]. - The company has a robust governance structure with significant shareholding by key executives, ensuring alignment of interests[178]. Future Plans and Strategies - The company plans to actively participate in bidding for large projects with reasonable returns to maintain competitiveness in the industry[12]. - The company aims to implement effective cost control measures and maintain high-quality construction projects to enhance competitiveness[12]. - The expected timeline for utilizing unspent proceeds is subject to market conditions and may be adjusted accordingly[38].
B & D STRATEGIC(01780) - 2023 - 中期财报