Revenue Performance - The Group's unaudited consolidated revenue for the six months ended 30 September 2023 was approximately HK$749.2 million, a decrease from approximately HK$776.0 million in the corresponding period of 2022[30]. - The construction business contributed approximately HK$583.3 million to revenue, down from approximately HK$642.4 million in the same period last year, with 25 projects ongoing as of 30 September 2023[30]. - E-Commerce business revenue increased to approximately HK$165.9 million, compared to approximately HK$133.6 million in the corresponding period of 2022, reflecting a growth of about 24%[30]. - The Group's unaudited consolidated revenue for the period was approximately HK$749.2 million, a decrease from HK$776.0 million in the same period last year, primarily due to a decline in construction business revenue[31]. - Revenue for the six months ended September 30, 2023, was HK$749,157,000, a decrease of 3.9% from HK$776,006,000 in the same period last year[74]. - Revenue from construction business was HK$583,265,000, down 9.2% from HK$642,409,000 in the previous year, with formwork services contributing HK$500,795,000 and other construction services contributing HK$82,470,000[103]. - E-Commerce business revenue increased by 24.1% to HK$165,892,000 from HK$133,597,000 year-over-year[123]. Profitability - The gross profit for the Period was approximately HK$131.5 million, up from approximately HK$121.1 million in the previous year, resulting in a gross profit margin of approximately 17.6%, compared to 15.6% in 2022[30]. - Profit attributable to the owners of the Company decreased to approximately HK$20.8 million, representing a 23.2% decline from approximately HK$27.1 million in the same period last year[33]. - The adjusted profit for the year attributable to owners of the Company was approximately HK$20.8 million, a slight increase of 6.7% compared to approximately HK$19.5 million last year[33]. - Operating profit for the period was HK$35,191,000, a slight decrease of 4.7% compared to HK$36,935,000 in the previous year[74]. - Profit for the period attributable to owners of the Company was HK$20,811,000, down 23.2% from HK$27,146,000 in the same period last year[74]. - Total comprehensive income attributable to owners of the Company increased to HK$16,564,000, compared to HK$21,013,000 in the same period last year, reflecting a decline of 21.3%[76]. - Profit before income tax for the six months ended 30 September 2023 was HK$5,033,000, down from HK$6,891,000 in the same period of 2022[127]. Expenses and Costs - Selling and administrative expenses increased by HK$5.1 million to approximately HK$96.7 million, mainly due to higher selling commission expenses for the E-Commerce business[32]. - Interest expenses for the period amounted to HK$1,001,000, while interest income was HK$2,581,000, resulting in a net interest income of HK$1,580,000[110]. - Key management compensation for the six months ended September 30, 2023, was HK$2,418,000, a decrease of 9.7% from HK$2,677,000 in the same period of 2022[169]. Financial Position - The current ratio improved to 4.0 times as of September 30, 2023, compared to 2.8 times as of March 31, 2023, indicating better liquidity[42]. - The gearing ratio increased slightly to 6.7% as of September 30, 2023, from 6.5% as of March 31, 2023, reflecting stable financial leverage[42]. - The Group had cash and cash equivalents of approximately HK$230.5 million, down from approximately HK$318.8 million as at 31 March 2023[45]. - The Group's capital structure consisted of equity of approximately HK$470.1 million and debts of approximately HK$31.6 million as at 30 September 2023[45]. - Total assets decreased to HK$624,537,000, down 12.2% from HK$711,545,000 as of March 31, 2023[78]. - Current assets saw a decline to HK$620,730,000, down 12.2% from HK$706,766,000[78]. - Cash and cash equivalents decreased to HK$230,524,000, down 27.7% from HK$318,830,000[78]. - The Group's total segment revenue for the construction business and E-Commerce business combined was HK$749,157,000 for the six months ended September 30, 2023[110]. E-Commerce Business - The Group has been engaged in E-Commerce since March 2021, holding a 51% equity interest in CK Baiyin, which operates on private E-Commerce platforms[27]. - The E-Commerce business offers a variety of products, including selenium-rich agricultural products, nutritional supplements, daily necessities, and cosmetic products[28]. - The increase in E-Commerce revenue indicates a successful adaptation to the rapidly developing online retail market[30]. - The Group expects growth in its E-Commerce business in the coming years as the impact of COVID-19 subsides, driven by changing consumer habits towards online consumption[34]. Construction Business - The Group was awarded 7 new construction projects with a total contract value of approximately HK$642.8 million during the Period[24]. - As of 30 September 2023, there were 25 ongoing projects with an outstanding contract sum of approximately HK$1,140.2 million[24]. - The Group remains confident in its future development in the construction business despite a challenging environment, supported by government policies on land supply and infrastructure investments[35]. - The construction business segment's assets decreased to HK$526,874,000 from HK$601,724,000, a decline of 12.4%[115]. Shareholder Information - Mr. Lo and Mrs. Lo each hold 446,750,000 shares, representing a 44.6% interest in the company[55]. - Magnificent Faith, a company controlled by Mr. Lo, is deemed to hold the same 44.6% interest in the company[60]. - CT Vision Strategic Company Limited holds 140,310,000 shares, accounting for 14.0% of the company's interests[61]. - Zhongchuang Boli (Hong Kong) Company Limited has a beneficial ownership of 100,000,000 shares, which is 10.0% of the company's interests[61]. - The company has not identified any substantial shareholders with interests of 10% or more in any class of share capital carrying voting rights[63]. Governance and Compliance - The Company has adopted the Corporate Governance Code and complied with all applicable provisions except for the separation of the roles of chairman and chief executive[67]. - The Audit Committee currently consists of three independent non-executive Directors, overseeing financial reporting and risk management[70]. - The financial report for the six months ended September 30, 2023, was reviewed by the Audit Committee with no disagreements noted, ensuring compliance and accuracy in reporting[170].
智勤控股(09913) - 2024 - 中期财报