Financial Performance - Revenue for the six months ended October 31, 2022, was approximately HK$54.5 million, an increase of about 71.9% compared to HK$31.7 million for the same period in 2021[9]. - Loss attributable to equity holders for the six months ended October 31, 2022, was approximately HK$10.2 million, compared to a loss of HK$4.6 million for the same period in 2021[10]. - Basic and diluted loss per share for the six months ended October 31, 2022, was approximately HK$0.0424, compared to earnings of HK$0.0199 per share for the same period in 2021[10]. - The company recorded a net loss of approximately HKD 10.2 million for the six months ended October 31, 2022, compared to a net loss of approximately HKD 4.6 million for the same period in 2021, primarily due to increased administrative expenses[22]. - The company reported a loss before tax of HKD 10,220,000 for the six months ended October 31, 2022, compared to a loss of HKD 4,582,000 in the prior year, reflecting a deterioration in performance[63]. - The basic and diluted loss per share for the six months was HKD 4.24, compared to HKD 1.99 in the previous year, indicating a worsening of the loss per share by approximately 113%[63]. Revenue and Profitability - Total contract revenue for the six months ended October 31, 2022, was HKD 54,527,000, representing a 72.2% increase compared to HKD 31,680,000 for the same period in 2021[84]. - The gross profit for the same period was HKD 1,426,000, compared to HKD 1,120,000 in the previous year, indicating an increase of about 27%[63]. - Gross profit increased from approximately HK$1.1 million to HK$1.4 million, a rise of about 27.3%, while gross margin decreased from approximately 3.5% to 2.6%[18]. Expenses - Direct costs rose from approximately HK$30.6 million to HK$53.1 million, an increase of about 73.5% due to higher subcontractor and labor costs[18]. - Administrative expenses increased from approximately HK$4.1 million to HK$11.1 million, a rise of about 166.7%, primarily due to higher personnel costs and professional fees[20]. - The company’s administrative expenses for the six months were HKD 11,059,000, up from HKD 4,146,000 in the previous year, representing an increase of approximately 167%[63]. Cash Flow and Liquidity - As of October 31, 2022, the company's cash and bank balances were approximately HKD 5.7 million, a decrease of about HKD 4.2 million from HKD 9.9 million as of April 30, 2022[23]. - Cash and cash equivalents decreased to HKD 5,726,000 as of October 31, 2022, down from HKD 9,945,000 at the end of April 2022, reflecting a net decrease of HKD 4,219,000[73]. - The net cash used in operating activities for the six months ended October 31, 2022, was HKD (5,371,000), compared to HKD (9,068,000) for the same period in 2021[73]. Shareholder Information - The board does not recommend the payment of an interim dividend for the six months ended October 31, 2022[11]. - The board of directors did not recommend the payment of an interim dividend for the six months ended October 31, 2022, consistent with the previous year[50]. - The company’s total issued share capital was HKD 12,320,000 with 246,400,000 ordinary shares as of October 31, 2022[32]. - The company issued 9,600,000 share options, increasing the total issued and paid-up shares to 246,400,000 as of October 31, 2022[122]. Assets and Liabilities - The company's equity attributable to owners was HKD 92,065,000 as of October 31, 2022, down from HKD 101,133,000 as of April 30, 2022[67]. - Current assets decreased to HKD 126,147,000 as of October 31, 2022, from HKD 133,225,000 as of April 30, 2022[67]. - Current liabilities increased to HKD 34,082,000 as of October 31, 2022, compared to HKD 32,123,000 as of April 30, 2022[67]. - Total liabilities, including trade and other payables, amounted to HKD 33,310,000 as of October 31, 2022, up from HKD 29,010,000 as of April 30, 2022[116]. Market Expansion and Strategy - The company is actively seeking to expand its business into other markets in the Asia-Pacific region, including Japan, Thailand, and Singapore[14]. - The company plans to enhance its competitive advantages in the construction industry in Hong Kong while focusing on site formation and renovation projects[14]. Employee Information - The company had 24 employees as of October 31, 2022, down from 27 employees as of April 30, 2022[33]. - The total remuneration for key management personnel remained stable at HKD 383,000 for the six months ended October 31, 2022, consistent with the previous year[123]. Risk Management - The company maintained a prudent treasury policy, ensuring a stable liquidity position throughout the reporting period[28]. - The company had no foreign exchange risk exposure as its transactions and monetary assets and liabilities were primarily denominated in HKD[29]. - The company had no significant contingent liabilities as of October 31, 2022, similar to the status as of April 30, 2022[31]. Other Information - The company has established an audit committee, which consists of three independent non-executive directors, ensuring compliance with GEM listing rules[61]. - There were no significant post-reporting period events disclosed as of the report date[52]. - The company has not recognized any deferred tax liabilities due to no significant temporary differences during the reporting period[95].
泰锦控股(08321) - 2023 - 中期财报