Financial Performance - For the six months ended October 31, 2022, the revenue was approximately HKD 111.1 million, an increase of 2.0% compared to HKD 108.9 million in the same period of 2021[7]. - The profit for the same period was approximately HKD 5.5 million, a decrease of 1.8% from HKD 5.6 million in 2021[7]. - Basic and diluted earnings per share for the six months ended October 31, 2022, were HKD 0.57, down from HKD 0.70 in 2021[7]. - The gross profit for the six months ended October 31, 2022, was HKD 13.7 million, down from HKD 16.4 million in the same period of 2021[10]. - The administrative expenses for the period were HKD 9.9 million, compared to HKD 9.3 million in 2021[10]. - The company reported a decrease in cash and cash equivalents of HKD (36,557) thousand for the six months ended October 31, 2022, compared to an increase of HKD 30,733 thousand in the same period of 2021[27]. - The company recorded other income of approximately HKD 2.2 million, primarily from the "Employment Support Scheme" under the Hong Kong government's anti-epidemic fund[71]. - The company reported a profit attributable to the company's owners for the six months ended October 31, 2022, was HKD 5,457,000, compared to HKD 5,580,000 for the same period in 2021, representing a decrease of approximately 2.2%[47]. Assets and Liabilities - The total assets as of October 31, 2022, were HKD 210.7 million, compared to HKD 190.8 million as of April 30, 2022[12]. - The net current assets as of October 31, 2022, were HKD 137.1 million, compared to HKD 133.2 million as of April 30, 2022[15]. - The total equity as of October 31, 2022, was HKD 142.5 million, an increase from HKD 137.1 million as of April 30, 2022[22]. - Trade receivables as of October 31, 2022, were HKD 46,123,000, an increase from HKD 39,834,000 as of April 30, 2022[53]. - The group reported a trade payables balance of HKD 27,803,000 as of October 31, 2022, compared to HKD 13,863,000 as of April 30, 2022, indicating a significant increase[56]. Cash Flow - The net cash used in operating activities for the six months ended October 31, 2022, was HKD (46,132) thousand, compared to HKD 33,554 thousand for the same period in 2021[27]. - The net cash used in investing activities was HKD (55) thousand for the six months ended October 31, 2022, compared to HKD (162) thousand in the same period of 2021[27]. - The net cash generated from financing activities was HKD 9,630 thousand for the six months ended October 31, 2022, compared to a net cash used of HKD (2,659) thousand in the same period of 2021[27]. - The company’s cash and cash equivalents at the end of the period were HKD 22,556 thousand, down from HKD 81,956 thousand at the end of the same period in 2021[27]. Dividends - The company did not declare an interim dividend for the six months ended October 31, 2022[7]. - The company did not declare any interim dividend for the six months ended October 31, 2022, consistent with the previous year[48]. - The company has not declared any dividends for the six months ending October 31, 2022[101]. Strategic Initiatives - The company aims to expand its service capabilities by identifying suitable business opportunities despite challenges posed by the COVID-19 pandemic[59]. - The group continues to focus on securing new installation and maintenance projects to enhance its service offerings[59]. - The company aims to seek strategic and financial partners for further expansion into overseas markets[15]. Shareholder Information - Major shareholders include Garden Wealth Investment Limited and Ms. Li Min Ying, each holding 213,660,000 shares, representing 22.26% of the issued share capital[105]. - Great Season Ventures Limited and Mr. Jiang Jian Hui hold 123,660,000 shares, accounting for 12.88% of the total shares[106]. - Standard Chartered PLC owns 88,080,000 shares, which is 9.18% of the company's issued shares[105]. Corporate Governance - The company has complied with the corporate governance code as per the listing rules during the six months ending October 31, 2022[113]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated results for the six months ending October 31, 2022[115]. - The interim report for the six months ending October 31, 2022, will be published on the Hong Kong Stock Exchange and the company's website[116]. Employee Information - The company employed 62 staff members as of October 31, 2022, with total employee costs of approximately HKD 18.1 million[99]. - The company maintains a stock option plan to attract and retain experienced talent[99]. Acquisitions - The company acquired a 78% stake in Noah's Ark Prefabricated Components Limited, enhancing its competitive advantage in the fire protection industry[15]. - The company acquired a 78% stake in Noah Ark Prefabricated Components Limited for HKD 17.55 million on December 8, 2022, which manufactures prefabricated components for fire protection[89]. - As of October 31, 2022, the company had no significant investments or acquisitions in subsidiaries, associates, or joint ventures during the reporting period[91].
鸿盛昌资源(01850) - 2023 - 中期财报