Financial Performance - The group's revenue increased by approximately 83.0% to about HKD 234.8 million, compared to approximately HKD 128.3 million in the same period of 2022[8]. - The group recorded a gross profit of approximately HKD 44.3 million, a significant increase of about HKD 33.1 million from approximately HKD 11.2 million in the same period of 2022, with a gross profit margin rising by 10.2 percentage points to approximately 18.9%[9]. - The group achieved a profit before tax of approximately HKD 34.1 million, compared to HKD 16.3 million in the same period of 2022[5]. - The net profit for the period was approximately HKD 32.9 million, an increase from approximately HKD 16.3 million in the same period of 2022[15]. - For the six months ended September 30, 2023, the company reported revenue of approximately HKD 234.8 million, a significant increase of 83% compared to HKD 128.3 million in the same period of 2022[35]. - The gross profit for the same period was HKD 44.3 million, representing a gross margin of approximately 18.9%, compared to HKD 11.2 million in the previous year[35]. - The net profit attributable to the company's owners for the period was HKD 32.9 million, up from HKD 16.3 million in the prior year, reflecting a year-over-year growth of 102%[35]. - Basic earnings per share for the period were HKD 0.823, compared to HKD 0.406 for the same period in 2022, representing a 102% increase[56]. Cash and Assets - The group had a total cash and bank deposits of approximately HKD 70.2 million as of September 30, 2023, compared to approximately HKD 51.2 million as of March 31, 2023[16]. - Cash and cash equivalents at the end of the period increased to HKD 63,850,000 from HKD 30,884,000, marking a 106% rise[41]. - Total cash and bank balances reached HKD 63,850,000 as of September 30, 2023, up from HKD 45,040,000 as of March 31, 2023, reflecting a growth of approximately 42%[63]. - As of September 30, 2023, total assets were HKD 216.2 million, an increase from HKD 169.5 million as of March 31, 2023[37]. Liabilities and Debt - The company’s total liabilities increased to HKD 75,900,000 as of September 30, 2023, from HKD 63,209,000 as of March 31, 2023, reflecting an increase of approximately 20%[66]. - The company's total liabilities increased to HKD 77.1 million from HKD 63.2 million, with current liabilities accounting for HKD 75.9 million[37]. - The group had no outstanding debts as of September 30, 2023[17]. Operational Highlights - The group has 11 ongoing projects with a total original contract value of approximately HKD 464.9 million[5]. - Administrative and other operating expenses increased by approximately 10.6% to about HKD 10.4 million due to rising employee salaries and benefits[12]. - Other income and gains decreased to approximately HKD 0.7 million from about HKD 1.3 million in the same period of 2022, primarily due to the absence of non-recurring government subsidies[11]. - The company reported a net cash inflow from operating activities of HKD 19,409,000, down from HKD 24,832,000 in the previous year[41]. - The net cash used in investing activities was HKD 599,000, a significant improvement from HKD 9,907,000 in the previous year[41]. Future Outlook - The group is optimistic about the future of the foundation engineering sector and aims to create value for shareholders[7]. Shareholder Information - As of September 30, 2023, the company has a total of 2,040,000,000 shares held by Meicheng Holdings Limited, representing a 51.0% ownership stake[77]. - The beneficial ownership of Meicheng is distributed among the directors: Mr. Huang Renxiong holds 40%, Mr. Huang Yibang holds 30%, and Mr. Li Guohui holds 30%[78]. - Other significant shareholders include Ms. Cai Meizhu, Ms. Li Biru, and Ms. Mai Jieling, each holding a 51.0% stake through spousal rights[80]. - Kingkey Investment Fund SPC holds a beneficial interest of 204,000,000 shares, accounting for 5.1% of the total shares[80]. Corporate Governance - The company confirms compliance with all provisions of the Corporate Governance Code during the reporting period[85]. - The Audit Committee was established on September 3, 2016, with the main responsibility of reviewing the group's financial information and overseeing the financial reporting system, risk management, and internal control procedures[93]. - The Audit Committee consists of three independent non-executive directors, with Mr. Tam Wai Tak serving as the chairman[93]. - The Audit Committee has reviewed the unaudited interim results for the period and confirmed compliance with applicable accounting standards and regulations[93].
汛和集团(01591) - 2024 - 中期财报