艾硕控股(08341) - 2023 - 中期财报

Company Overview GEM Listing Characteristics and Disclaimer The report highlights GEM market's high investment risks for SMEs, with directors fully responsible for content accuracy - GEM market is positioned for small and medium-sized companies, with higher investment risks and potential for significant market volatility[3] - Hong Kong Exchanges and Clearing Limited is not responsible for the report's content, and the company's directors assume full responsibility for its accuracy, completeness, and non-misleading nature[3] Financial Highlights H1 2022 revenue grew 53.4% to HK$116.7 million, achieving HK$3.7 million profit and HK$4.60 cents EPS 2022 Interim Financial Highlights (For the six months ended September 30) | Metric | 2022 (thousand HKD) | 2021 (thousand HKD) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 116,700 | 76,068 | +53.4% | | Profit/(Loss) attributable to owners of the company | 3,700 | (2,000) | Turned profitable | | Earnings/(Loss) per share (HK cents) | 4.60 | (2.55) | Turned profitable | | Dividends | Not recommended | Not recommended | - | Company Information and Business Aishuo Holdings, an investment company, provides Hong Kong housing improvement services for new and existing commercial/residential buildings - The company is an investment holding company, with subsidiaries primarily providing housing improvement solution services in Hong Kong[15] - Principal activities include interior decoration works for new commercial and residential buildings, and renovation and alteration and addition works for existing commercial buildings[15] - The unaudited condensed consolidated financial statements have been reviewed by the company's audit committee and are presented in Hong Kong dollars[15] Unaudited Condensed Consolidated Financial Statements Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For H1 2022, revenue grew 53.4% to HK$116.7 million, gross profit by 67.0% to HK$16.2 million, achieving a profit before tax of HK$3.7 million and basic EPS of HK$4.60 cents Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended September 30) | Metric | 2022 (thousand HKD) | 2021 (thousand HKD) | | :--- | :--- | :--- | | Revenue | 116,698 | 76,068 | | Cost of sales | (100,534) | (66,404) | | Gross profit | 16,164 | 9,664 | | Other income, gains or (losses) – net | 1,087 | 22 | | Administrative expenses | (13,099) | (11,749) | | Finance costs | (540) | (100) | | Profit/(Loss) before tax | 3,676 | (2,040) | | Profit/(Loss) and total comprehensive income/(loss) for the period | 3,676 | (2,040) | | Basic earnings/(loss) per share (HK cents) | 4.60 | (2.55) | Condensed Consolidated Statement of Financial Position As of Sep 30, 2022, net current assets rose to HK$30.7 million, total assets less current liabilities to HK$37.0 million, and net assets to HK$33.1 million, reflecting improved financial health despite decreased receivables and increased contract assets Condensed Consolidated Statement of Financial Position (As of September 30) | Metric | Sep 30, 2022 (thousand HKD) | Mar 31, 2022 (thousand HKD) | | :--- | :--- | :--- | | Non-current assets | 6,208 | 7,344 | | Current assets | 121,402 | 108,265 | | Current liabilities | 90,653 | 82,569 | | Net current assets | 30,749 | 25,696 | | Total assets less current liabilities | 36,957 | 33,040 | | Non-current liabilities | 3,814 | 4,932 | | Net assets | 33,143 | 28,108 | | Total equity | 33,143 | 28,108 | - Contract assets increased from HK$53,257 thousand as of March 31, 2022, to HK$78,350 thousand as of September 30, 2022[7] - Trade and other receivables decreased from HK$36,019 thousand as of March 31, 2022, to HK$25,436 thousand as of September 30, 2022[7] Condensed Consolidated Statement of Changes in Equity For H1 2022, total equity increased from HK$28.1 million to HK$33.1 million, driven by HK$3.7 million in profit and HK$1.4 million from share option grants Condensed Consolidated Statement of Changes in Equity (For the six months ended September 30) | Item | Sep 30, 2022 (thousand HKD) | Apr 1, 2022 (thousand HKD) | | :--- | :--- | :--- | | Total equity | 33,143 | 28,108 | | Profit and total comprehensive income for the period | 3,676 | - | | Grant of share options | 1,359 | - | - Accumulated losses decreased from (HK$78,502) thousand as of April 1, 2022, to (HK$74,826) thousand as of September 30, 2022, reflecting profit for the period[10] Condensed Consolidated Statement of Cash Flows For H1 2022, net cash used in operating activities was HK$2.6 million, with net cash from financing activities at HK$1.1 million, leading to a net decrease in cash and cash equivalents of HK$1.5 million and an ending balance of HK$6.3 million Condensed Consolidated Statement of Cash Flows (For the six months ended September 30) | Metric | 2022 (thousand HKD) | 2021 (thousand HKD) | | :--- | :--- | :--- | | Net cash used in operating activities | (2,572) | (8,205) | | Net cash (used in)/generated from investing activities | (64) | 899 | | Net cash generated from financing activities | 1,138 | 2,413 | | Net decrease in cash and cash equivalents | (1,498) | (4,893) | | Cash and cash equivalents, as of September 30 | 6,258 | 2,950 | - Net cash used in operating activities decreased by 68.6% year-on-year, indicating reduced pressure from operating cash outflows[13] Notes to the Financial Statements Basis of Preparation The consolidated financial statements are prepared under Hong Kong Financial Reporting Standards, GAAP, and Companies Ordinance disclosure requirements, adhering to GEM Listing Rules, with consistent accounting policies and no material impact from new standards - Consolidated financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, Hong Kong Generally Accepted Accounting Principles, and the disclosure requirements of the Hong Kong Companies Ordinance[16] - Accounting policies are consistent with those adopted in the annual financial statements for the year ended March 31, 2022[16] - New/revised Hong Kong Financial Reporting Standards have no significant impact on the Group's results and financial position for the current and prior periods[16] Revenue and Segment Information For H1 2022, the Group's total revenue from Hong Kong decoration and renovation projects reached HK$116.7 million, with decoration projects contributing HK$103.4 million (up 53.9%) and renovation projects HK$13.3 million (up 49.4%) Revenue Analysis For H1 2022, decoration projects generated HK$103.4 million and renovation projects HK$13.3 million, contributing to a total revenue of HK$116.7 million with significant year-on-year growth Revenue Breakdown (For the six months ended September 30) | Item | 2022 (thousand HKD) | 2021 (thousand HKD) | YoY Change (%) | | :---