Financial Performance - For the six months ended April 30, 2023, revenue was HKD 45,143,000, a decrease of approximately 9% compared to HKD 49,740,000 for the same period in 2022[5] - Profit attributable to owners for the six months ended April 30, 2023, was HKD 2,004,000, down about 35% from HKD 3,099,000 in the same period last year[5] - Basic earnings per share for the six months ended April 30, 2023, was approximately HKD 0.31, a decrease of about 35% from HKD 0.48 for the same period in 2022[7] - Total comprehensive income for the period was HKD 6,660,000, compared to HKD 13,363,000 for the previous period, reflecting a decline of 50.2%[14] - Profit attributable to shareholders for the six months was HKD 3,099,000, a decrease from HKD 2,004,000 in the previous period[14] - Operating profit for the three months ended April 30, 2023, was HKD 917,000, compared to HKD 752,000 for the same period in 2022, representing a 21.9% increase[26] - For the six months ended April 30, 2023, operating profit was HKD 2,004,000, down 35.4% from HKD 3,099,000 in the same period of 2022[31] Revenue Segmentation - The water supply segment generated revenue of HKD 25,141,000, up 46.9% from HKD 17,122,000 in the previous year[19] - The environmental products segment reported revenue of HKD 20,002,000, down 38.8% from HKD 32,618,000 in the same period last year[19] - Revenue from the environmental products business decreased by 23% to HKD 25,141,000, while revenue from the water treatment business increased by 17% to HKD 20,002,000[50] Assets and Liabilities - Total assets less current liabilities as of April 30, 2023, were HKD 133,752,000, compared to HKD 122,012,000 as of October 31, 2022[10] - The company reported a total asset value of HKD 172,541,000 as of April 30, 2023, down from HKD 189,568,000 a year earlier[25] - Total liabilities decreased to HKD 51,500,000 from HKD 66,670,000 in the previous year[25] - Cash and cash equivalents at the end of the period were HKD 47,316,000, an increase from HKD 41,064,000 at the beginning of the period[12] Cash Flow and Working Capital - The net cash used in operating activities for the six months ended April 30, 2023, was HKD (2,493,000), an improvement from HKD (7,258,000) in the same period last year[12] - Cash and cash equivalents as of April 30, 2023, were HKD 47,316,000, compared to HKD 50,084,000 as of October 31, 2022, indicating a decrease of 5.6%[40] - Accounts receivable as of April 30, 2023, totaled HKD 18,535,000, down from HKD 19,544,000 as of October 31, 2022, a decline of 5.2%[38] - Inventory as of April 30, 2023, was HKD 14,518,000, down from HKD 16,435,000 as of October 31, 2022, representing a decrease of 11.6%[36] Expenses and Costs - Administrative expenses for the six months ended April 30, 2023, increased by 11% to HKD 12,837,000 compared to HKD 11,579,000 in the same period last year[54] - Total employee costs for the six months ended April 30, 2023, were approximately HKD 8,300,000, compared to HKD 8,000,000 for the same period in 2022[63] Governance and Compliance - The company has established various committees including the Remuneration Committee, Nomination Committee, and Audit Committee to oversee governance and management practices[77][78][81] - The Audit Committee reviewed the unaudited financial results for the three and six months ended April 30, 2023, confirming compliance with applicable accounting standards and regulations[81] - The Environmental, Social, and Governance (ESG) Committee was formed in January 2022 to provide advice on managing ESG-related matters[79] - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[82] Strategic Outlook - The company plans to continue evaluating new accounting standards and their potential impacts on future financial reporting[17] - The company plans to explore new products or services that align with China's energy-saving and emission-reduction policies[51]
环康集团(08169) - 2023 - 中期财报