Financial Performance - The group's revenue decreased by approximately HKD 39.4 million or about 8.2% to approximately HKD 439.7 million for the six months ended September 30, 2022, compared to HKD 479.1 million for the same period in 2021[10]. - Gross profit fell by approximately HKD 15.5 million or about 32.2% to approximately HKD 32.6 million, with the gross profit margin declining from about 10.0% to about 7.4%[11]. - The total comprehensive income for the period was approximately HKD 21.4 million, representing a decrease of about 25.2% from HKD 28.6 million for the same period in 2021[16]. - For the six months ended September 30, 2022, the company's revenue was HKD 439,746,000, a decrease of 8.2% compared to HKD 479,108,000 for the same period in 2021[101]. - Gross profit for the same period was HKD 32,644,000, down 32.1% from HKD 48,085,000 in the previous year[101]. - The net profit for the six months ended September 30, 2022, was HKD 21,442,000, a decline of 25.3% compared to HKD 28,613,000 in the prior year[101]. - Basic and diluted earnings per share for the period were HKD 1.37, down from HKD 1.79 in the previous year, representing a decrease of 23.4%[101]. Assets and Liabilities - Current assets net value was approximately HKD 248.5 million as of September 30, 2022, compared to HKD 231.3 million as of March 31, 2022[18]. - Cash and bank balances amounted to approximately HKD 169.5 million as of September 30, 2022, up from HKD 122.8 million as of March 31, 2022[18]. - Total assets as of September 30, 2022, amounted to HKD 591,162,000, an increase from HKD 553,230,000 as of March 31, 2022[103]. - The company's cash and bank balances increased to HKD 169,452,000 from HKD 122,762,000, reflecting a growth of 37.9%[103]. - Trade receivables decreased significantly to HKD 28,404,000 from HKD 76,293,000, a decline of 62.8%[103]. - As of September 30, 2022, the net current assets increased to HKD 248,493,000 from HKD 231,299,000, representing a growth of approximately 7.4%[105]. - Total assets less current liabilities rose to HKD 282,334,000, up from HKD 265,175,000, indicating an increase of about 6.5%[105]. - The net asset value reached HKD 277,029,000, compared to HKD 260,240,000 at the end of March 2022, reflecting a growth of approximately 6.4%[105]. - The total debt of the group, including interest-bearing bank borrowings and bank overdrafts, was approximately HKD 30.9 million, up from HKD 27.9 million as of March 31, 2022[20]. - The company's lease liabilities increased to HKD 2,628,000 from HKD 2,258,000, reflecting a rise of about 16.3%[105]. Expenses and Income - Administrative and other operating expenses increased by approximately HKD 1.7 million to about HKD 15.6 million, primarily due to rising employee costs[14]. - Income tax expenses decreased by approximately HKD 3.6 million to about HKD 2.7 million for the six months ended September 30, 2022[15]. - The total employee cost for the six months ended September 30, 2022, was approximately HKD 102.7 million, an increase from HKD 82.4 million for the same period in 2021[32]. - Other income for the six months ended September 30, 2022, totaled HKD 7,864,000, significantly up from HKD 941,000 in the same period of 2021, primarily due to government subsidies related to the COVID-19 pandemic[130]. - Interest expenses increased to HKD 756,000 for the six months ended September 30, 2022, compared to HKD 298,000 in the same period of 2021, reflecting higher costs associated with bank overdrafts and loans[131]. Shareholder Information - The company does not plan to declare an interim dividend for the six months ended September 30, 2022, similar to the previous year[31]. - The company purchased 24,000,000 shares at a total cost of approximately HKD 6.0 million under the share incentive plan during the six months ended September 30, 2022[71]. - The major shareholder, Mr. Xu Jiguang, holds 75% of the company's shares through New Brilliance Enterprises Limited, which he owns entirely[64]. - The company has adopted a stock option plan aimed at attracting and retaining qualified personnel, providing additional incentives to employees, directors, consultants, and business partners[77]. - The maximum number of shares that can be issued under the stock option plan is capped at 10% of the total issued shares at the time of listing[80]. - The company has also adopted a share award plan to recognize employee contributions and attract suitable talent for further development[85]. - The maximum number of shares that can be awarded under the share award plan is limited to 1% of the total issued shares[86]. Business Operations - The group had 33 construction projects on hand with a total uncompleted contract value of approximately HKD 1,947.0 million as of September 30, 2022[7]. - The group has made significant progress in its business strategies, including the full utilization of funds for existing projects and the acquisition of machinery and equipment[34]. - The group reported a confirmed revenue from construction services of approximately HKD 60,327,000 for the six months ended September 30, 2022, significantly higher than HKD 5,038,000 for the same period in the previous year[15]. - The group acquired property, plant, and equipment amounting to approximately HKD 7,477,000 for the six months ended September 30, 2022, an increase from approximately HKD 6,941,000 in the same period of 2021[141]. Compliance and Governance - The company has complied with the corporate governance code throughout the reporting period, ensuring transparency and accountability[93]. - The company ensures compliance with the standard code of conduct for securities trading by all directors as of September 30, 2022[76]. - The company has established a priority purchase right for business opportunities that may compete with its operations, subject to board approval[75].
誉燊丰控股(02132) - 2023 - 中期财报