Financial Performance - Revenue for the six months ended October 31, 2021, was approximately HKD 108.9 million, a decrease of 10.2% compared to HKD 121.3 million in 2020[10] - Profit for the same period was approximately HKD 5.6 million, down 62.4% from HKD 14.9 million in 2020[10] - Basic and diluted earnings per share for the six months ended October 31, 2021, were HKD 0.70, compared to HKD 1.86 in 2020[10] - The company reported a gross profit of HKD 16.4 million for the six months ended October 31, 2021, down from HKD 19.9 million in 2020[12] - The company reported other income of HKD 139, significantly lower than HKD 3.8 million in the same period last year[12] - The company reported a profit of HKD 5,580,000 for the six months ended October 31, 2021, a decrease of 62.5% compared to HKD 14,885,000 for the same period in 2020[48] - Gross profit decreased by approximately HKD 3.5 million or 17.6% to HKD 16.4 million, with a gross margin of 15.1% compared to 16.4% in 2020[75] - Profit attributable to owners decreased from HKD 14.9 million in 2020 to HKD 5.6 million in 2021[83] Revenue Breakdown - Total revenue for the six months ended October 31, 2021, was HKD 108,912,000, a decrease of 10.1% from HKD 121,302,000 in the same period of 2020[38] - Revenue from design, supply, and installation services was HKD 97,052,000, slightly down from HKD 97,855,000 year-on-year[38] - Revenue from maintenance and repair services decreased to HKD 11,754,000 from HKD 23,376,000, indicating a decline of 49.8%[38] - Installation services revenue decreased by approximately 0.8% from HKD 97.9 million in 2020 to HKD 97.1 million in 2021[70] - Maintenance services revenue dropped by approximately 49.6% from HKD 23.4 million in 2020 to HKD 11.8 million in 2021[71] - Major customer A contributed HKD 49,828,000 to total revenue, significantly up from HKD 23,756,000 in the previous year[42] Assets and Liabilities - Total assets as of October 31, 2021, were HKD 180.6 million, compared to HKD 174.7 million as of April 30, 2021[14] - Current assets increased to HKD 180.6 million from HKD 174.7 million, while current liabilities decreased to HKD 63.2 million from HKD 65.9 million[14] - The net asset value as of October 31, 2021, was HKD 120.4 million, an increase from HKD 114.8 million as of April 30, 2021[18] - Trade receivables as of October 31, 2021, were HKD 30,618,000, a decrease from HKD 53,966,000 as of April 30, 2021[53] Cash Flow - The net cash generated from operating activities for the six months ended October 31, 2021, was HKD 33,554,000, compared to HKD 15,427,000 for the same period in 2020, representing a significant increase[30] - The company reported a net increase in cash and cash equivalents of HKD 30,733,000, compared to a decrease of HKD 650,000 in the previous year[30] - The company’s cash and cash equivalents at the end of the period stood at HKD 81,956,000, up from HKD 44,230,000 in the prior year[30] Expenses - Administrative expenses increased to HKD 9.3 million from HKD 6.2 million in the previous year[12] - Financial costs decreased by approximately 56.6% from HKD 829,000 in 2020 to HKD 360,000 in 2021 due to reduced bank borrowings[81] - The income tax expense for the six months ended October 31, 2021, was HKD 1,272,000, down from HKD 2,787,000 in the same period of 2020[44] - The company incurred interest expenses on lease liabilities of HKD 7,000 for the period, down from HKD 26,000 in the previous year[46] Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended October 31, 2021[10] - The company has not declared any interim dividends for the six months ended October 31, 2021, consistent with the previous year[49] - Major shareholders include Great Season Ventures Limited and Jiang Jianhui, each holding 240 million shares, representing 30.00% of the issued share capital[106] - Ren Guisheng is a major shareholder with 252 million shares, accounting for 31.50% of the issued share capital[106] Corporate Governance - The company has adopted a remuneration policy that links compensation for executive directors to the achievement of company goals[101] - The company has established a remuneration committee to review the remuneration policy and structure for directors and senior management[101] - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO until November 30, 2021[114][116] - No significant transactions or arrangements involving directors or their related entities were reported during the six months ending October 31, 2021[111] Strategic Initiatives - The company aims to expand its service capabilities and explore strategic partnerships for further business development and market expansion[64] - The company continues to seek opportunities to enhance its investor and shareholder base to support its business and expansion plans[64] Audit and Reporting - The Audit Committee was established on March 27, 2017, to assist the Board in financial reporting, internal controls, and risk management[117] - The Audit Committee consists of three independent non-executive directors, with Mr. Yu Wei Qin serving as the chairman[117] - The interim report for the six months ending October 31, 2021, will be published on the Hong Kong Stock Exchange and the company's website, containing all required information[118]
鸿盛昌资源(01850) - 2022 - 中期财报