Financial Performance - For the six months ended September 30, 2022, the group recorded revenue of approximately HKD 265.9 million, an increase of about HKD 42.5 million or 19.0% compared to HKD 223.4 million for the same period in 2021[6]. - Gross profit for the same period was approximately HKD 15.6 million, up by about HKD 4.0 million or 34.4% from HKD 11.6 million in the previous year, with a gross margin of approximately 5.9%[6]. - The loss attributable to owners of the company for the six months was approximately HKD 5.2 million, compared to a loss of HKD 0.3 million for the same period in 2021[6]. - Revenue for the six months ended September 30, 2022, was HKD 265,875,000, representing an increase of 18.9% compared to HKD 223,408,000 for the same period in 2021[21]. - Gross profit for the same period was HKD 15,617,000, up from HKD 11,616,000, indicating a gross margin improvement[21]. - The net loss for the six months ended September 30, 2022, was HKD 5,195,000, compared to a loss of HKD 331,000 in the prior year, reflecting a significant increase in losses[22]. - The group reported a loss attributable to owners of the company of HKD 5,165,000 for the six months ended September 30, 2022, compared to a loss of HKD 331,000 for the same period in 2021[57]. Dividends and Shareholder Returns - The board has resolved not to declare any interim dividend for the six months ended September 30, 2022, consistent with the previous year[6]. - The company issued shares worth HKD 42,750,000 related to the acquisition of an associate during the period[27]. - The company issued 90,000,000 shares to finance the acquisition of the 40% stake in Junyang, reflecting a strategic move to expand its investment portfolio[78]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to HKD 289,419,000, down from HKD 349,294,000 as of March 31, 2022[24]. - Current liabilities increased to HKD 214,973,000 from HKD 204,640,000, indicating a rise in short-term financial obligations[24]. - Cash and cash equivalents decreased to HKD 65,532,000 from HKD 87,200,000, reflecting a decline in liquidity[24]. - Trade receivables decreased to HKD 33,306,000 from HKD 49,170,000, indicating a reduction in outstanding customer payments[24]. - Total assets less current liabilities increased to HKD 223,153,000 as of September 30, 2022, compared to HKD 155,930,000 as of March 31, 2022, representing a growth of 43.1%[25]. - The net assets amounted to HKD 210,411,000 as of September 30, 2022, up from HKD 155,896,000 as of March 31, 2022, indicating a 35% increase[25]. - The company's equity attributable to owners increased to HKD 210,522,000 as of September 30, 2022, compared to HKD 155,896,000 as of March 31, 2022, reflecting a growth of 35%[27]. Operational Highlights - The group aims to accelerate its transformation into the green building sector, focusing on eco-friendly materials and designs to help clients reduce carbon emissions[10]. - The company is actively exploring potential business opportunities in the electric vehicle aftermarket, including the construction and installation of EV chargers and battery recycling[10]. - The anticipated rise in electric vehicle adoption is expected to create significant growth opportunities for the company[10]. - The board remains cautiously optimistic about industry recovery despite ongoing competitive pressures affecting profit margins[10]. - The group plans to invest in research and development to enhance its competitive edge and diversify its existing construction business[12]. Expenses and Cost Management - The company reported a significant increase in administrative and other expenses, which rose to HKD 23,886,000 from HKD 11,913,000[21]. - The group’s employee benefits expenses, including directors' remuneration, increased to HKD 25,306,000 from HKD 17,987,000 year-on-year[54]. - Administrative and other expenses rose to approximately HKD 23.9 million, an increase of about HKD 12.0 million or 100.5% from approximately HKD 11.9 million in 2021[104]. Acquisitions and Investments - The company completed the acquisition of a 40% stake in Junyang International (Hong Kong) Limited for approximately HKD 42,750,000 on April 29, 2022[74]. - The total consideration for the acquisition of 60% of Junyang was HKD 41,460,000, with the fair value of identifiable net assets acquired amounting to HKD 14,882,000[88]. - The goodwill generated from the acquisition of Junyang was HKD 53,197,000, leading to a total acquisition cost of HKD 68,079,000[88]. - The acquisition of 95% of Cornerstone Energy was completed for a consideration of approximately HKD 19,950,000, paid through the issuance of 42,000,000 new shares[91]. Compliance and Governance - The company has complied with the corporate governance code as per the listing rules during the six-month period ending September 30, 2022[130]. - All directors have adhered to the prescribed trading code during the six-month period ending September 30, 2022[131]. - The Audit Committee was established on July 25, 2018, in accordance with Listing Rule 3.21, consisting of three independent non-executive directors[132]. - The Group's interim financial statements for the six months ended September 30, 2022, were reviewed and approved by the Audit Committee, ensuring compliance with applicable accounting standards and regulations[133]. - The independent auditor, BDO Limited, conducted the review of the interim financial information in accordance with the Hong Kong Institute of Certified Public Accountants' standards[133].
晋景新能(01783) - 2023 - 中期财报