Financial Performance - The company reported a total revenue of HKD 32,389 thousand for the three months ended September 30, 2022, a decrease of 28.2% compared to HKD 44,988 thousand in the same period of 2021[11]. - Gross loss for the six months ended September 30, 2022, was HKD 19,858 thousand, compared to a gross profit of HKD 4,769 thousand for the same period in 2021[11]. - The company incurred a total comprehensive loss attributable to owners of HKD 12,134 thousand for the three months ended September 30, 2022, compared to a loss of HKD 10,945 thousand in the same period of 2021[11]. - Operating loss for the six months ended September 30, 2022, was HKD 27,006 thousand, significantly higher than the loss of HKD 10,391 thousand for the same period in 2021[11]. - For the six months ended September 30, 2022, total revenue was HKD 58,025 thousand, a decrease of 19.6% compared to HKD 72,131 thousand for the same period in 2021[37]. - Construction contract revenue for the six months ended September 30, 2022, was HKD 56,241 thousand, down 21.9% from HKD 72,131 thousand in the previous year[38]. - The total comprehensive loss for the six months ended September 30, 2022, was HKD 26,925 thousand, compared to a loss of HKD 10,719 thousand for the same period in 2021[27]. - The company reported a loss attributable to owners of the company of HKD 26,925,000 for the six months ended September 30, 2022, compared to a loss of HKD 10,719,000 for the same period in 2021[51]. - The basic and diluted loss per share for the six months ended September 30, 2022, was HKD 22.3, compared to HKD 5.3 for the same period in 2021[51]. - The company recorded a net loss of approximately HKD 27.0 million for the six months ended September 30, 2022, compared to a net loss of approximately HKD 10.7 million for the same period in 2021, representing an increase in loss of about 152.3%[99]. Assets and Liabilities - Non-current assets increased to HKD 58,796 thousand as of September 30, 2022, compared to HKD 56,055 thousand as of March 31, 2022[13]. - Current assets totaled HKD 66,742 thousand as of September 30, 2022, up from HKD 56,538 thousand as of March 31, 2022[13]. - The company's net asset value increased to HKD 66,710 thousand as of September 30, 2022, compared to HKD 50,526 thousand as of March 31, 2022[13]. - The company's total liabilities decreased to HKD 58,828 thousand as of September 30, 2022, from HKD 62,067 thousand as of March 31, 2022[13]. - The company had a total equity attributable to owners of approximately HKD 66.7 million as of September 30, 2022, compared to approximately HKD 50.5 million as of March 31, 2022[106]. - The company has a total debt of approximately HKD 9.3 million as of September 30, 2022, down from HKD 15.9 million as of March 31, 2022[117]. - The company's debt-to-equity ratio is approximately 13.9% as of September 30, 2022, a decrease from 31.5% as of March 31, 2022[117]. Cash Flow - The net cash outflow from operating activities for the six months ended September 30, 2022, was HKD 9,517 thousand, compared to HKD 3,648 thousand in the previous year[32]. - The net cash inflow from financing activities for the six months ended September 30, 2022, was HKD 36,152 thousand, significantly up from HKD 14,513 thousand in the same period of 2021[32]. - The cash and cash equivalents at the end of the period increased to HKD 18,187 thousand from HKD 12,283 thousand in the previous year[32]. - The company aims to maintain a strong and prudent cash management policy to capitalize on future growth opportunities[124]. Operational Developments - The company plans to continue investing in machinery and equipment to enhance operational capabilities[33]. - The company plans to invest in human resources and information systems to enhance operational capabilities and efficiency in foundation and drilling projects[99]. - The company aims to seek potential business opportunities to expand revenue sources and increase shareholder returns, particularly in the financial and fintech sectors[99]. - The overall industry outlook remains challenging due to uncertainties from the COVID-19 pandemic, impacting the foundation industry with supply chain disruptions and labor shortages[99]. - The company plans to hire additional full-time employees, with an allocated budget of HKD 7 million, which has not yet been utilized as of September 30, 2022[113]. Shareholder Information - The company completed a rights issue on May 3, 2022, issuing 81,000,000 shares at a subscription price of HKD 0.55 per share, raising approximately HKD 42.6 million net after expenses[110]. - As of September 30, 2022, the actual use of the net proceeds from the rights issue amounted to approximately HKD 30.0 million, with a remaining balance of HKD 12.6 million to be utilized as planned[113]. - The company plans to use approximately HKD 20 million from the rights issue for the purchase of new office premises and related renovation costs, with actual expenditure of HKD 16.4 million as of September 30, 2022[113]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2022[130]. - As of September 30, 2022, the largest shareholder, China New Economy Investment Limited, held 25,958,750 shares, representing 19.23% of the company's total issued shares[133]. Governance and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency[34]. - The company has complied with all applicable provisions of the corporate governance code as of September 30, 2022[145]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2022, and found them to comply with applicable accounting standards and GEM listing rules[146]. - The audit committee consists of three independent non-executive directors, ensuring appropriate financial management expertise[146]. - The company is committed to high levels of corporate governance to enhance shareholder value and accountability[145]. Employee and Operational Costs - Total employee costs for the six months ended September 30, 2022, amounted to approximately HKD 30.0 million, compared to HKD 18.5 million for the same period in 2021, reflecting a year-on-year increase of 62.16%[129]. - As of September 30, 2022, the company had 80 full-time employees, unchanged from the previous year[129]. Risk Management - The company has no significant foreign exchange risk as its operations and borrowings are primarily conducted in Hong Kong dollars[119]. - The company faced no significant contingent liabilities as of September 30, 2022, with all construction projects insured[126].
中国新消费集团(08275) - 2023 - 中期财报