Financial Performance - For the six months ended September 30, 2023, the company recorded unaudited total revenue of approximately HKD 54.5 million, an increase of about 20.8% compared to HKD 45.1 million for the same period in 2022[9]. - The unaudited profit attributable to the owners of the company for the six months ended September 30, 2023, was approximately HKD 17.2 million, up by about HKD 5.8 million from HKD 11.4 million for the same period in 2022[9]. - Revenue from comprehensive LED lighting solution services increased from approximately HKD 13.7 million to about HKD 23.8 million, representing a growth of approximately 73.7% or HKD 10.1 million[17]. - Revenue from LED lighting system consulting and maintenance services rose from approximately HKD 1.7 million to about HKD 2.4 million, an increase of about 41.2% or HKD 0.7 million[16]. - Revenue from the sale of 3D printing materials and services decreased by approximately 57.1% from HKD 2.1 million to about HKD 0.9 million, a decline of HKD 1.2 million due to a sluggish retail market[18]. - Revenue from the sale of LED lighting devices slightly decreased from approximately HKD 27.4 million to about HKD 27.1 million, a decline of about 1.1% or HKD 0.3 million, attributed to a reduction in project numbers in China[14]. - The overall revenue growth was mainly driven by the increase in sales from comprehensive LED lighting solution services[21]. - The company reported a revenue of HKD 54,486,000 for the six months ended September 30, 2023, representing a 21.5% increase from HKD 45,074,000 in the same period of 2022[54]. - Gross profit for the same period was HKD 33,000,000, up 29.0% from HKD 25,562,000 year-on-year[54]. - Operating profit increased to HKD 21,151,000, a 55.6% rise compared to HKD 13,584,000 in the previous year[54]. - The company achieved a net profit attributable to shareholders of HKD 17,232,000, which is a 50.5% increase from HKD 11,432,000 in the prior year[54]. - The group’s profit before tax for the six months ended September 30, 2023, was HKD 17,232,000, compared to HKD 11,432,000 for the same period in 2022, representing a 50.5% increase[75]. Cost and Expenses - Direct costs increased by approximately HKD 2.0 million or 10.3% to about HKD 21.5 million for the six months ended September 30, 2023, consistent with revenue growth[22]. - Gross profit rose by approximately HKD 7.4 million to about HKD 33.0 million, with a gross margin increase from 56.7% to 60.6% due to reduced direct costs related to LED lighting solution installation projects[22]. - Administrative expenses rose by approximately HKD 0.6 million or 4.7% to about HKD 13.3 million, mainly due to increased overseas travel expenses[23]. - Income tax expenses increased by approximately HKD 1.7 million or 81.0% to about HKD 3.8 million, consistent with the increase in profit before tax[24]. - Employee benefits expenses for the six months ended September 30, 2023, totaled HKD 10,288,000, down from HKD 11,091,000 in 2022, reflecting a decrease of 7.3%[69]. - The income tax expense for the six months ended September 30, 2023, was HKD 3,834,000, significantly higher than HKD 2,055,000 in 2022, marking an increase of 86.5%[72]. Cash Flow and Financial Position - Cash and bank balances totaled HKD 93.2 million as of September 30, 2023, up from HKD 80.0 million as of March 31, 2023[30]. - Net current assets increased to approximately HKD 85.1 million as of September 30, 2023, from HKD 67.5 million as of March 31, 2023[32]. - Total equity attributable to owners increased to approximately HKD 92.5 million as of September 30, 2023, from about HKD 76.4 million as of March 31, 2023[33]. - Cash and cash equivalents as of September 30, 2023, stood at HKD 93,249,000, up from HKD 79,967,000 as of March 31, 2023[55]. - Operating cash flow for the six months was HKD 13,370,000, an increase of 33.1% from HKD 10,036,000 in the same period last year[60]. - The company’s financing activities resulted in a net cash outflow of HKD 1,457,000, an improvement compared to HKD 5,318,000 outflow in the previous year[60]. - Trade receivables as of September 30, 2023, amounted to HKD 8,344,000, an increase from HKD 6,904,000 as of March 31, 2023, indicating a growth of 20.9%[80]. - The total trade and other payables as of September 30, 2023, were HKD 9,914,000, up from HKD 9,388,000 as of March 31, 2023, reflecting an increase of 5.6%[83]. - As of September 30, 2023, trade payables amounted to HKD 7,078,000, compared to HKD 6,026,000 as of March 31, 2023, reflecting an increase of approximately 17.5%[86]. Capital Expenditure and Investments - Capital expenditure for the six months ended September 30, 2023, was approximately HKD 26,000, significantly lower than HKD 488,000 for the previous year[41]. - The company utilized HKD 13,000,000 for seeking suitable acquisitions, which has been fully allocated[49]. - The company plans to expand its 3D printing facilities with an allocation of HKD 10,000,000, of which HKD 5,900,000 has been utilized as of September 30, 2023[49]. - The group purchased property, plant, and equipment at a cost of approximately HKD 26,000,000 for the six months ended September 30, 2023, compared to HKD 488,000,000 for the previous year[77]. Shareholder Information - The company’s board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2023[9]. - The group did not declare or pay any dividends for the six months ended September 30, 2023, consistent with the previous year[76]. - The total number of issued and fully paid ordinary shares remained at 1,000,000,000 as of both March 31, 2023, and September 30, 2023[87]. - Mr. Tan Yi Ming holds 510,000,000 shares, representing 51% of the company's equity, through Garage Investment Limited[93]. - Mr. Wen Wen Kang and Ms. Yang Yi each hold 56,550,000 shares, representing 5.66% of the company's equity[96]. - The company has not granted any options under the share option scheme since its adoption on December 22, 2017[99]. Corporate Governance and Compliance - The company maintains a high level of corporate governance to enhance transparency and protect shareholder interests[104]. - The board believes that the current structure, with the chairman also serving as CEO, benefits the company's business outlook and operational efficiency[104]. - The audit committee has reviewed the unaudited consolidated results for the six months ended September 30, 2023, and found them compliant with applicable accounting standards and GEM listing rules[108]. - As of the report date, the company has maintained sufficient public float[107]. - No significant subsequent events have occurred since the reporting period up to the report date[105]. - The company reported no significant related party transactions during the period[88]. - The company has not reported any new product launches or significant market expansions during this period[66]. - The company continues to focus on its core business of LED lighting and 3D printing services without disclosing any major mergers or acquisitions[66].
英马斯集团(08136) - 2024 - 中期财报