Financial Performance - For the six months ended February 28, 2022, ECI Technology Holdings Limited reported revenue of approximately HKD 69,908,000, a decrease of 0.9% compared to HKD 70,532,000 in the same period of 2021[10]. - The gross profit for the same period was approximately HKD 17,520,000, representing an increase of 26.3% from HKD 13,825,000 in 2021[10]. - The net profit for the six months was approximately HKD 2,289,000, a significant decline of 64.5% compared to HKD 6,447,000 in the previous year[11]. - The operating profit for the six months was approximately HKD 2,838,000, down from HKD 6,656,000 in the same period of 2021, reflecting a decrease of 57.5%[14]. - The basic and diluted earnings per share for the six months were HKD 0.143, down from HKD 0.403 in the previous year, indicating a decline of 64.5%[15]. - The total comprehensive income attributable to owners of the company for the period was HKD 2,293,000, compared to HKD 6,447,000 in the same period of 2021[15]. - The group reported a profit before tax of HKD 2,717,000 for the six months ended February 28, 2022, down from HKD 6,521,000 in the same period of 2021, a decrease of 58.4%[36]. - The profit attributable to owners decreased to approximately HKD 2,293,000 from HKD 6,447,000, primarily due to the absence of government subsidies received in the previous year[103]. Revenue Breakdown - Maintenance services generated revenue of HKD 39,603,000 for the six months ended February 28, 2022, compared to HKD 37,131,000 in 2021, reflecting an increase of 6.6%[32]. - Installation services revenue decreased to HKD 26,406,000 in the six months ended February 28, 2022, down from HKD 31,055,000 in 2021, a decline of 14.3%[32]. - Security services revenue increased to HKD 3,899,000 for the six months ended February 28, 2022, compared to HKD 2,346,000 in 2021, marking a growth of 66.1%[32]. Expenses and Costs - The company experienced a decrease in administrative expenses, which were HKD 14,787,000 for the six months, compared to HKD 13,259,000 in the previous year, reflecting an increase of 11.5%[14]. - Total employee costs amounted to 40,859,000 HKD for the six months ended February 28, 2022, an increase of 5.2% from 38,835,000 HKD in the same period of 2021[50]. - The group’s sales cost decreased by approximately 7.62% from HKD 56,707,000 to HKD 52,388,000, consistent with the decline in revenue[100]. - Gross profit increased by approximately 26.73% from HKD 13,825,000 to HKD 17,520,000, primarily due to a reduction in the number of subcontractors[100]. - Administrative expenses rose by approximately 11.52% from HKD 13,259,000 to HKD 14,787,000, mainly due to increased salaries and marketing expenses[101]. Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD 2,522,000 for the six months ended February 28, 2022, compared to a cash inflow of HKD 3,221,000 in the same period last year[21]. - Cash and cash equivalents decreased to HKD 24,703,000 from HKD 29,059,000, a decline of 15.7%[21]. - As of February 28, 2022, total assets amounted to HKD 72,758,000, a slight increase from HKD 71,048,000 as of August 31, 2021, representing a growth of approximately 2.4%[17]. - Trade receivables increased to HKD 31,982,000 from HKD 25,480,000, reflecting a growth of 25.5% year-over-year[17]. - Non-current assets totaled HKD 11,266,000 as of February 28, 2022, slightly down from HKD 11,670,000 as of August 31, 2021, a decrease of 3.5%[17]. Liabilities and Equity - The company’s total liabilities decreased to HKD 66,790,000 from HKD 64,497,000, indicating a reduction of 3.4%[18]. - The total equity attributable to owners increased to HKD 66,790,000 as of February 28, 2022, up from HKD 64,497,000 as of August 31, 2021, indicating a growth of 3.6%[20]. - The company’s current liabilities increased to HKD 13,460,000 from HKD 14,119,000, a decrease of 4.7%[18]. - The debt-to-equity ratio as of February 28, 2022, was 0.13, compared to 0.15 as of August 31, 2021[110]. Dividends and Share Capital - The company did not recommend the payment of an interim dividend for the period[12]. - The company did not declare or recommend any dividends for the six months ended February 28, 2022, consistent with the previous year[52]. - The total issued and paid-up share capital remains at 1,600,000,000 shares as of February 28, 2022[84]. - The total issued shares as of February 28, 2022, were 1,600,000,000[122]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance with the principles outlined, except for the deviation regarding the roles of Chairman and CEO[131]. - The company has established an Audit Committee as of February 17, 2017, consisting of four independent non-executive directors, responsible for overseeing financial reporting and internal controls[135]. - The board of directors comprises seven members, including two executive directors and four independent non-executive directors, ensuring a diverse governance structure[138]. Future Outlook and Projects - The company aims to expand its market share and enhance its reputation in the industry by focusing on bidding for ELV maintenance service contracts[96]. - The security guard business is recovering, with ongoing projects at Wah Ting Court and Wah Ting Pavilion, and expectations for more security projects in 2022[96]. - The company has secured a four-year framework project for the maintenance and installation of a television system from the Transport Department, which has commenced operations during the reporting period[94]. - The company has invested in Skytec Technology Company Limited to enhance its electric vehicle charging system solutions, integrating various brands of chargers[97]. - The group is focusing on diversifying its business and expanding its project portfolio in Southeast Asia and other regions under the "Belt and Road" initiative[108].
ECI TECH(08013) - 2022 - 中期财报