Financial Performance - For the six months ended September 30, 2023, the company reported revenue of HKD 512,879,000, an increase of 6.5% compared to HKD 479,360,000 in the same period of 2022[8] - The gross profit for the same period was HKD 40,995,000, down 10.5% from HKD 45,765,000 year-on-year[8] - The company recorded a profit before tax of HKD 5,838,000, a decrease of 68.3% from HKD 18,375,000 in the previous year[8] - Basic and diluted earnings per share for the six months were HKD 1.38, down from HKD 2.62 in the same period last year, representing a decline of 47.3%[8] - The company reported a net profit of HKD 8,298,000 for the six months ended September 30, 2023, compared to HKD 15,735,000 for the same period in 2022, representing a decrease of 47.3%[22] - Total revenue for the six months ended September 30, 2023, was HKD 512,879,000, an increase of 6.9% from HKD 479,360,000 in the same period of 2022[22] - Revenue from environmental cleaning services for the six months was HKD 507,547,000, up from HKD 474,168,000 in 2022, reflecting a growth of 7.0%[26] - The company’s property management services revenue slightly increased to HKD 5,332,000 from HKD 5,192,000, a rise of 2.7%[26] - The adjusted profit before tax for the six months ended September 30, 2023, was HKD 5,838,000, down from HKD 18,375,000 in 2022, a decline of 68.3%[28] Assets and Liabilities - As of September 30, 2023, total current assets increased to HKD 307,457,000 from HKD 254,568,000 as of March 31, 2023, reflecting a growth of 20.7%[10] - Total liabilities increased to HKD 180,233,000 from HKD 138,935,000, indicating a rise of 29.7%[10] - Total assets increased to HKD 366,671,000 as of September 30, 2023, from HKD 326,128,000 as of March 31, 2023, representing a growth of approximately 12.4%[29] - Total liabilities rose to HKD 243,848,000 as of September 30, 2023, compared to HKD 205,132,000 as of March 31, 2023, indicating an increase of about 18.9%[29] - The company's current assets and current liabilities were approximately HKD 307,457,000 and HKD 180,233,000, respectively, resulting in a current ratio of 1.71 as of September 30, 2023, down from 1.83 as of March 31, 2023[63] - Bank borrowings increased by approximately 73.7% to HKD 54,170,000 as of September 30, 2023, compared to HKD 31,180,000 as of March 31, 2023[64] - The total interest-bearing liabilities amounted to approximately HKD 82,449,000 as of September 30, 2023, compared to HKD 68,158,000 as of March 31, 2023[74] Cash Flow - Cash generated from operating activities significantly increased to HKD 57,976,000 in 2023 from HKD 9,862,000 in 2022, marking a growth of 486.5%[13] - The company’s cash and cash equivalents increased to HKD 113,710,000 from HKD 72,340,000, a growth of 57.2%[10] - The company’s cash and cash equivalents rose to HKD 113,710,000 as of September 30, 2023, up from HKD 94,207,000 a year earlier, indicating a year-over-year increase of 20.8%[13] - The total cash used in investing activities was HKD 30,897,000 for the six months ended September 30, 2023, compared to HKD 3,360,000 in 2022, indicating a significant increase in investment outflows[13] - The company’s financing activities generated a net cash inflow of HKD 14,291,000, slightly up from HKD 14,122,000 in the previous year, showing a marginal increase of 1.2%[13] Shareholder Information - As of September 30, 2023, the three directors hold a total of 369,000,000 shares, representing 61.50% of the company's equity[78] - Wong Lai Man and Wan Wing Ting, spouses of the directors, are also considered to hold 369,000,000 shares each, equating to 61.50% of the equity[83] - The major shareholders include Wan Cheng Global Limited and Li Hang Investment Limited, each holding 175,500,000 shares, which is 29.25% of the equity[83] - The total number of shares held by the directors and their related entities indicates a significant concentration of ownership within the company[82] - The ownership structure suggests a strong familial connection among the major shareholders, which may influence corporate governance[82] - The company has not disclosed any additional interests or holdings by other individuals outside of the directors and their immediate families as of September 30, 2023[84] Corporate Governance - The company has adopted and complied with the Corporate Governance Code as per the GEM Listing Rules, ensuring high standards of corporate governance[89] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2023[95] - The board confirms that there are no interests or potential conflicts of interest among controlling shareholders or directors that could compete with the company's business[86] - The company is committed to maintaining transparency and protecting shareholder interests through its governance practices[89] Future Plans - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[7] - The group aims to secure more contracts from various Hong Kong government departments to expand its service offerings and revenue streams[52] - The group plans to leverage its financial resources to adapt to business and technological trends for sustainable development[54] Employee Costs - Employee costs for the six months ended September 30, 2023, amounted to HKD 416,915,000, an increase of 7.2% compared to HKD 388,744,000 in the same period of 2022[33] - The total employee costs for the six months ended September 30, 2023, were approximately HKD 416,915,000, an increase from approximately HKD 388,744,000 for the same period in 2022[76] Dividends and Share Options - The company did not propose any dividend for the six months ended September 30, 2023[36] - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2023, consistent with the previous period[62] - As of September 30, 2023, no options have been granted under the share option scheme[92] - The share option scheme was adopted on March 20, 2017, to attract and retain talented participants for the company's future development[91]
万成环球控股(08309) - 2024 - 中期财报