Financial Performance - For the six months ended September 30, 2023, the company reported revenue of HKD 53,642,000, a 78.5% increase from HKD 30,026,000 in the same period of 2022[4] - The gross profit for the same period was HKD 16,767,000, compared to a gross profit of HKD 1,183,000 in 2022, indicating a significant recovery[4] - The company achieved a profit before tax of HKD 1,054,000 for the six months ended September 30, 2023, compared to a loss of HKD 7,211,000 in the previous year[4] - The company reported a basic and diluted earnings per share of HKD 0.1 for the six months ended September 30, 2023, compared to a loss per share of HKD 0.9 in the same period of 2022[4] - The company recorded a total comprehensive income of HKD 1,626,000 for the six months ended September 30, 2023, compared to a total comprehensive loss of HKD 7,848,000 in the previous year[9] - The total profit and comprehensive income attributable to the owners of the company for the six months ended September 30, 2023, was approximately HKD 1.6 million, a turnaround from a loss of approximately HKD 7.8 million for the same period in 2022, primarily due to an increase in gross profit, particularly from the internet services segment[57] Revenue Segments - The revenue from construction services was HKD 24,789,000, while internet services generated HKD 28,853,000, indicating a significant growth in both segments[17] - The company recorded revenue of approximately HKD 28.9 million from its internet services segment, which includes supply chain management, for the six months ended September 30, 2023[51] Cash Flow and Assets - The net cash used in operating activities for the six months was HKD 6,190,000, slightly improved from HKD 7,071,000 in 2022[11] - As of September 30, 2023, total assets were HKD 54,170,000, down from HKD 93,458,000 as of March 31, 2023[5] - The cash and cash equivalents at the end of the period were HKD 2,931,000, a decrease from HKD 20,574,000 at the beginning of the period[11] - The total cash and cash equivalents as of September 30, 2023, were approximately HKD 2.9 million, a decrease from approximately HKD 20.6 million as of March 31, 2023[60] Liabilities and Equity - The company's current liabilities amounted to HKD 84,701,000, a decrease from HKD 126,372,000 at the end of the previous reporting period[5] - The company’s equity attributable to owners was HKD (22,788,000) as of September 30, 2023, an improvement from HKD (24,414,000) at the end of the previous reporting period[7] - The total debt as of September 30, 2023, was approximately HKD 52.2 million, down from HKD 63.1 million as of March 31, 2023[63] - The net debt as of September 30, 2023, was approximately HKD 49.3 million, compared to HKD 42.5 million as of March 31, 2023[63] Expenses - The service costs increased by approximately HKD 8.1 million or 28.1% to about HKD 36.9 million, driven by the increase in revenue[54] - Administrative expenses rose by approximately HKD 7.6 million or 102.7% to about HKD 15.0 million, primarily due to increased operational costs associated with business expansion in Hong Kong[56] Share Capital and Dividends - The weighted average number of ordinary shares used for calculating basic earnings per share increased to 866,400 thousand shares from 800,000 thousand shares year-on-year[28] - No interim dividend was recommended for the six months ended September 30, 2023, compared to no dividend in 2022[29] - The company’s issued share capital increased to 866,400,000 shares as of September 30, 2023, following two rounds of share subscriptions in January and March 2023[44] Corporate Governance - The company has complied with all applicable corporate governance codes, except for a deviation regarding internal audit functions as noted in the corporate governance report dated June 26, 2023[88] - The Audit Committee was established on July 6, 2015, and consists solely of independent non-executive directors, ensuring compliance with GEM listing rules[89] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2023, confirming adherence to applicable accounting standards and GEM listing regulations[89] - The company has maintained effective internal controls and risk management systems, as overseen by the Audit Committee[89] Employee Information - As of September 30, 2023, the total number of employees increased to 112 from 74 as of March 31, 2023, with total employee compensation amounting to approximately HKD 11.7 million for the six months ended September 30, 2023, compared to HKD 5.1 million for the same period in 2022[78] - The total employee compensation for the six months ended September 30, 2023, reflects a significant increase of approximately 129.41% compared to the same period in the previous year[78] Future Outlook - The company continues to focus on expanding its internet services in China, which has shown significant revenue growth[19] - The company is actively exploring new opportunities in the e-commerce market, which has been rapidly developing in China, to diversify its business portfolio[51] - The company believes that the construction industry market conditions are improving, despite ongoing challenges, and is prepared to compete effectively[48]
中国红包(08316) - 2024 - 中期财报