Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 331,466,000, representing a 20.9% increase compared to HKD 274,260,000 in the same period of 2021[11] - Gross profit decreased to HKD 28,274,000, down 36.3% from HKD 44,365,000, resulting in a gross margin of 8.5%, down from 16.2%[11] - Profit attributable to owners of the company increased by 82.6% to HKD 18,651,000, compared to HKD 10,214,000 in the previous year[11] - Basic and diluted earnings per share rose to HKD 1.55, an increase of 82.4% from HKD 0.85[13] - Other income for the six months ended September 30, 2022, totaled HKD 20,853,000, compared to HKD 3,544,000 for the same period in 2021, representing a significant increase[41] - The pre-tax profit for the six months ended September 30, 2022, was HKD 18,651,000, compared to HKD 10,214,000 for the same period in 2021, indicating a growth of approximately 83.5%[53] - The company's profit attributable to owners increased by approximately HKD 8.5 million or 82.6% to about HKD 18.7 million, with a net profit margin rising from 3.7% to 5.6%[91] Cash Flow and Liquidity - Cash and cash equivalents decreased by 29.4% to HKD 49,776,000 from HKD 70,532,000[15] - The current ratio was 2.4, slightly down from 2.6, indicating a decrease in liquidity[15] - The net cash used in operating activities for the six months ended September 30, 2022, was HKD (16,130), an improvement from HKD (38,494) in the same period last year, indicating a reduction of about 58%[25] - The company's financing activities resulted in a net cash outflow of HKD (3,505) for the six months ended September 30, 2022, compared to HKD (14,666) in the same period last year, showing a significant reduction in cash outflow[25] - The group's cash and bank balances totaled approximately HKD 49.8 million as of September 30, 2022, down from approximately HKD 70.5 million as of March 31, 2022[93] Assets and Liabilities - Total assets increased to HKD 397,809,000, compared to HKD 335,604,000 as of March 31, 2022[20] - The company reported a net asset value of HKD 304,094,000, an increase from HKD 285,445,000[20] - The total equity as of September 30, 2022, increased to HKD 304,151, up from HKD 288,936 as of March 31, 2022, representing a growth of approximately 5.5%[23] - The company’s total liabilities decreased from HKD 278,722 as of March 31, 2022, to HKD 285,500 as of March 31, 2023, indicating a slight increase in liabilities[23] Operational Efficiency - Employee benefit expenses totaled HKD 39,579,000 for the six months ended September 30, 2022, down from HKD 47,182,000 in the same period of 2021, reflecting a decrease of approximately 16.5%[44] - Administrative and other operating expenses decreased by approximately HKD 4.6 million or 13.7% to about HKD 28.6 million[88] - The total employee costs for the six months ended September 30, 2022, amounted to approximately HKD 19.6 million, a decrease from HKD 23.6 million for the same period in 2021[114] Market and Strategic Focus - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming periods[19] - The group remains optimistic about long-term growth opportunities in the construction market due to government policies and infrastructure investments[117] - The group plans to continue applying innovative and cost-effective construction methods to enhance operational efficiency and profitability[117] Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2022, consistent with the previous year[49] - The board does not recommend an interim dividend for the six months ended September 30, 2022, consistent with the previous year[112] - As of September 30, 2022, Wang K M holds 801,600,000 shares, representing 66.8% of the company's equity[125] - K C Limited owns 49,200,000 shares, accounting for 4.1% of the company's equity[125] Compliance and Governance - The company has adopted the corporate governance code principles and has complied with the code provisions during the reporting period[138] - The company has maintained high levels of corporate governance to ensure stakeholder trust and protect their interests[138] - The Audit Committee was established on January 17, 2017, with independent non-executive director Mr. Kwan Ping Man as the chairman[139] - The Audit Committee reviewed the unaudited condensed consolidated interim financial statements for the six months ended September 30, 2022, ensuring compliance with applicable accounting standards and listing rules[139] - The Audit Committee confirmed that the financial statements provided adequate disclosures and adhered to the relevant regulations[139]
御佳控股(03789) - 2023 - 中期财报