Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 406,141,000, representing a 55% increase from HKD 261,803,000 in the same period last year[16]. - Gross profit for the same period was HKD 74,069,000, up from HKD 50,686,000, indicating a gross margin improvement[16]. - The net profit for the period was HKD 31,110,000, compared to HKD 17,095,000 in the previous year, reflecting an increase of 82%[16]. - Basic earnings per share increased to HKD 6.18 from HKD 3.42, marking a significant growth[16]. - Total comprehensive income for the period was HKD 30,615,000, compared to HKD 17,171,000 in the prior year, showing a strong performance[16]. - The company reported a pre-tax profit of HKD 38,130,000 for the six months ended September 30, 2022[46]. - Profit for the period increased by approximately HKD 14 million or 81.9% from about HKD 17.1 million in the fiscal year 2021 to about HKD 31.1 million in the fiscal year 2022[107]. Revenue Breakdown - The distribution business generated revenue of HKD 289,583,000, up 69.3% from HKD 171,317,000 year-on-year[36]. - The system integration solutions business reported revenue of HKD 116,558,000, an increase of 29% compared to HKD 90,486,000 in the previous year[46]. - Revenue from Hong Kong reached HKD 401,002,000, a significant rise of 62.1% from HKD 246,822,000 in the prior year[37]. - Revenue recognized over time was HKD 29,708,000, slightly up from HKD 29,499,000 in the previous year[41]. Expenses and Costs - Administrative expenses rose to HKD 15,688,000 from HKD 12,333,000, reflecting increased operational costs[16]. - The company incurred listing expenses of HKD 4,892,000, up from HKD 1,793,000, due to increased activities related to its public listing[16]. - Employee costs, including director remuneration, increased to HKD 38,588,000 from HKD 28,039,000, reflecting a rise of about 37.7%[56]. - The cost of inventory recognized as an expense was HKD 313,162,000, up from HKD 191,106,000, indicating an increase of approximately 63.9%[56]. - Financing costs increased by approximately HKD 400,000 or 40% from about HKD 1 million in the fiscal year 2021 to about HKD 1.4 million in the fiscal year 2022[104]. Assets and Liabilities - As of September 30, 2022, total assets amounted to HKD 375,154 million, an increase from HKD 251,836 million as of March 31, 2022, representing a growth of approximately 48.8%[21]. - The company's total equity reached HKD 196,388 million as of September 30, 2022, compared to HKD 76,958 million as of March 31, 2022, reflecting an increase of 156.5%[21]. - The company’s total liabilities increased to HKD 76,185,000 as of September 30, 2022, from HKD 74,866,000 as of March 31, 2022, reflecting an increase of 1.8%[75]. - The company had bank borrowings of approximately HKD 31,960,000 as of September 30, 2022, down from HKD 53,261,000 as of March 31, 2022, reflecting a reduction of 40.0%[78]. Cash Flow and Investments - Cash and cash equivalents increased to HKD 103,567 million as of September 30, 2022, up from HKD 1,308 million a year earlier, reflecting a significant rise in liquidity[28]. - The net cash used in operating activities was HKD (7,942) million, a significant improvement compared to HKD (49,993) million in the previous year[28]. - The company issued new shares raising HKD 106,250 million during the reporting period, contributing to its capital reserves[24]. - The net proceeds from the share issuance are estimated to be approximately HKD 66,000,000 after deducting underwriting fees and other expenses[127]. Market and Growth Strategy - The company aims to expand its market presence and invest in new technologies to drive future growth[16]. - The company continues to focus on expanding its distribution and system integration solution services in the Hong Kong and China markets[39]. - Approximately 55.3% of the net proceeds will be used to expand the distribution business, including acquiring more IT supplier authorizations and launching a subscription laptop leasing service[127]. - About 20.4% of the net proceeds will be allocated to expanding the system integration solutions business, including building internal capabilities for digital transformation services[127]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per Appendix 14 of the listing rules, ensuring effective accountability within its management structure[136]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group[140]. - The company believes that the current management structure is effective for operations, despite deviations from the corporate governance code regarding the separation of the roles of chairman and CEO[138]. - The company has confirmed compliance with the standard code of conduct for securities transactions by all directors since the listing date[139].
数科集团(02350) - 2023 - 中期财报