Financial Performance - The group recorded revenue of approximately HKD 181.5 million for the six months ended January 31, 2022, a decrease of about 30.8% compared to approximately HKD 262.2 million for the same period in 2021[6]. - The total profit and comprehensive income decreased by approximately 44.8% to about HKD 17.1 million for the six months ended January 31, 2022, down from approximately HKD 31.0 million for the same period in 2021[6]. - Earnings per share for the six months ended January 31, 2022, was approximately HKD 1.71, compared to HKD 3.10 for the same period in 2021[6]. - Gross profit for the six months ended January 31, 2022, was HKD 40.1 million, down from HKD 48.8 million in the same period in 2021[8]. - Operating profit for the six months ended January 31, 2022, was HKD 20.8 million, compared to HKD 37.0 million for the same period in 2021[8]. - The company reported a total comprehensive income of HKD 17,103,000 for the period, compared to HKD 30,957,000 in the previous year, reflecting a decline of 44.7%[11]. - The company's profit attributable to owners for the six months ended January 31, 2022, was HKD 17,103,000, a decrease of 44.1% compared to HKD 30,957,000 for the same period in 2021[31]. - Total profit and comprehensive income for the period decreased by approximately 44.8% to approximately HKD 17.1 million, with a net profit margin dropping from approximately 11.8% to about 9.4%[60]. Revenue Breakdown - Revenue from the sale of heavy equipment and parts was HKD 72,387,000, down 51.0% from HKD 147,597,000 in the previous year[20]. - Rental income from heavy equipment was HKD 104,381,000, slightly down by 4.8% from HKD 109,041,000 in the previous year[20]. - Revenue decreased by approximately 30.8% to about HKD 181.5 million from approximately HKD 262.2 million for the six months ended January 31, 2021, primarily due to a reduction in heavy equipment and parts sales[51]. Cash Flow and Assets - For the six months ended January 31, 2022, the company reported a net cash inflow from operating activities of HKD 49,654,000, a significant increase from HKD 19,486,000 in the same period last year, representing a growth of 154.5%[12]. - The group’s cash and cash equivalents as of January 31, 2022, were HKD 108.2 million, compared to HKD 109.2 million as of July 31, 2021[9]. - The company’s total equity as of January 31, 2022, was HKD 426,605,000, a slight decrease from HKD 429,502,000 as of August 1, 2021[11]. - Total assets less current liabilities as of January 31, 2022, amounted to HKD 449.5 million, a slight decrease from HKD 455.5 million as of July 31, 2021[9]. Dividends - The board declared an interim dividend of HKD 0.01 per ordinary share, expected to be paid in cash on or around May 3, 2022[6]. - The company paid dividends of HKD 20,000,000 during the period, compared to HKD 10,000,000 in the previous year, indicating a 100% increase in dividends paid[11]. - The company declared an interim dividend of HKD 10,000,000 for the six months ended January 31, 2022, compared to HKD 15,000,000 for the same period in 2021[41]. Costs and Expenses - The cost of goods sold for the period was HKD 61,177,000, down 51.6% from HKD 126,359,000 in the previous year[29]. - The cost of revenue for the period was approximately HKD 141.4 million, a decrease of about 33.7% from approximately HKD 213.4 million for the same period last year[52]. - Employee costs for the period were approximately HKD 53.5 million, down from approximately HKD 60.6 million for the same period last year[67]. - Administrative and other operating expenses increased by approximately HKD 0.6 million or about 3.1% to approximately HKD 20.0 million for the period[57]. - Financing costs decreased by approximately HKD 0.8 million or about 61.5% to approximately HKD 0.5 million for the period, attributed to a reduction in average bank borrowings[58]. - Income tax expenses decreased by approximately HKD 1.5 million or about 32.0% due to a reduction in taxable profits for the period[59]. Market and Business Outlook - The company remains cautiously optimistic about the outlook for heavy equipment sales and rentals, anticipating strong demand due to government infrastructure investment plans exceeding HKD 100 billion annually[49]. - The company has not reported any significant new product developments or market expansions during this period[20]. - The company continues to focus on its core business of selling and renting heavy equipment and providing maintenance services in Hong Kong[20]. Corporate Governance - The board believes that Mr. Zhou serving as both Chairman and CEO aligns with the company's operational interests and provides strong leadership[76]. - There are no known conflicts of interest or competitive business interests held by directors or major shareholders during the period[78]. - The company has complied with all applicable corporate governance code provisions during the reporting period, except for the separation of the roles of Chairman and CEO[76]. Other Information - The company has not granted or agreed to grant any share options under the share option scheme since its adoption on June 30, 2017, and there are no unexercised options as of January 31, 2022[77]. - The company has not purchased, sold, or redeemed any of its listed securities during the period[79]. - The interim results and report for the period are unaudited but have been reviewed by the audit committee[85]. - No significant events occurred after the reporting period, aside from those disclosed in the financial statements[84].
德利机械(02102) - 2022 - 中期财报