Revenue and Profitability - Total revenue for the six months ended September 30, 2022, was approximately HKD 569.0 million, an increase of about HKD 27.7 million or 5.1% compared to the previous period[6]. - Revenue from the IT infrastructure solutions segment was approximately HKD 504.7 million, up about HKD 23.5 million or 4.9% from the previous period[8]. - The company reported revenue of HKD 568,984,000 for the six months ended September 30, 2022, an increase from HKD 541,345,000 in the same period last year, representing a growth of approximately 5.4%[66]. - The company achieved a profit before tax of HKD 18,579,000, up from HKD 15,575,000, reflecting an increase of approximately 19.3%[66]. - The net profit for the period was HKD 16,324,000, compared to HKD 12,851,000 in the previous year, marking a growth of around 27.5%[66]. - Basic earnings per share increased to HKD 0.05 from HKD 0.04, representing a rise of 25%[66]. Expenses and Costs - The gross profit decreased by approximately HKD 0.9 million or 1.5% to about HKD 58.7 million due to increased sales costs in IT infrastructure solutions and management services[10]. - Operating expenses increased by approximately HKD 2.3 million or 5.4% to about HKD 45.2 million, driven by higher sales and distribution expenses[13]. - The cost of goods sold for the period was HKD 456,450,000, compared to HKD 435,383,000 in the prior year, reflecting an increase in operational costs[108]. - Depreciation expenses for property, plant, and equipment amounted to HKD 6,824,000, an increase from HKD 5,098,000 in the previous year[108]. - The company incurred financing costs of HKD 374,000, which is an increase from HKD 211,000 in the previous year, reflecting higher borrowing costs[99]. Cash Flow and Financial Position - Cash and cash equivalents were approximately HKD 123.4 million as of September 30, 2022, down from approximately HKD 237.3 million as of March 31, 2022[16]. - The net cash used in operating activities for the six months ended September 30, 2022, was HKD (82,143) thousand, compared to HKD (63,084) thousand for the same period in 2021, indicating a decline of 30.2%[75]. - The company incurred a net cash outflow from financing activities of HKD (32,624) thousand for the six months ended September 30, 2022, compared to HKD (29,171) thousand for the same period in 2021, an increase of 8.4%[75]. - The total assets amounted to HKD 424,248 thousand, compared to HKD 522,527 thousand as of March 31, 2022, reflecting a decrease of approximately 18.8%[70]. - The company reported a total equity of HKD 209,120 thousand as of September 30, 2022, down from HKD 210,796 thousand as of March 31, 2022, representing a decrease of 0.8%[70]. Dividends and Shareholder Information - The group declared an interim dividend of HKD 0.045 per share, totaling HKD 13.5 million, an increase from HKD 0.04 per share in the previous period[27]. - The company declared a final dividend of HKD 0.06 per share for the year ended March 31, 2022, totaling HKD 18 million, compared to HKD 30 million in the previous year[109]. - As of September 30, 2022, the company had a total of 300,000,000 shares issued[51]. - Major shareholder Yang Chunqing holds a controlled corporation interest of 164,804,000 shares, representing 54.9% of the company[51]. Investments and Future Plans - The group has no significant investments or acquisitions during the period, and no future plans for major investments or capital assets as of September 30, 2022[33]. - The group anticipates full utilization of funds for upgrading IT management systems by December 31, 2023, with HKD 0.3 million already used[36]. - The group expects to fully utilize funds for enhancing capabilities in handling large contracts by December 31, 2024, with HKD 16.9 million already allocated[36]. - The company plans to continue expanding its Information Technology and Infrastructure Solutions services to capture more market share in the upcoming periods[99]. Employee and Management Costs - Total employee costs, including directors' remuneration, amounted to HKD 53.5 million, up from HKD 52.4 million in the previous period[26]. - The total compensation for executive directors and key management personnel for the six months ended September 30, 2022, was HKD 5,337,000, a decrease of 5.2% from HKD 5,630,000 in the same period of 2021[133]. Risk Management and Compliance - The audit committee reviewed the interim results and found no objections to the accounting policies adopted by the company[62]. - The company has established foreign currency forward contracts to manage currency risk, with nominal amounts of USD 600,000 and USD 1,200,000 as of September 30, 2022[125].
美高域(01985) - 2023 - 中期财报