Financial Performance - Total revenue for the six months ended September 30, 2023, was HK$78,859,000, a decrease of 5.1% from HK$83,557,000 in the same period of 2022[9] - Gross profit for the period was HK$21,019,000, down 21.3% from HK$26,685,000 year-on-year[9] - Profit for the period was HK$4,065,000, representing a decline of 44.5% compared to HK$7,367,000 in the previous year[9] - Earnings per share decreased to HK$0.47 from HK$0.85, reflecting a drop of 44.7%[9] - The company reported other comprehensive income for the period of HK$3,201,000, down from HK$5,842,000, a decrease of 45.1%[9] - The profit for the period ended September 30, 2023, was HK$4,065,000, compared to HK$7,367,000 for the same period in 2022, representing a decline of 44.5%[13] - The Group's profit before tax for the six months ended September 30, 2023, was HK$5,413,000, down from HK$7,534,000 in the previous year[40] - Total profit for the period attributable to owners of the Company decreased to HK$4,065,000 from HK$7,367,000, a decline of approximately 44.5%[70] - For the six months ended 30 September 2023, the Group recorded a net profit of approximately HK$4.1 million, a decrease of approximately 44.6% compared to HK$7.4 million for the same period in 2022[111] Assets and Liabilities - Non-current assets as of September 30, 2023, totaled HK$186,407,000, down from HK$198,027,000 as of March 31, 2023[10] - Current assets increased to HK$136,178,000 from HK$129,860,000, marking a rise of 4.9%[10] - Net current assets improved to HK$60,531,000, up from HK$54,182,000, indicating a growth of 11.8%[10] - As of September 30, 2023, the net assets of the company were HK$221,743,000, a decrease of 1.85% from HK$224,158,000 as of March 31, 2023[11] - The total equity of the company decreased from HK$224,158,000 as of March 31, 2023, to HK$221,743,000 as of September 30, 2023, reflecting a reduction of 1.85%[13] - Borrowings as of September 30, 2023, amounted to HK$841,000, a decrease from HK$1,848,000 as of March 31, 2023[11] - As of September 30, 2023, the carrying value of property, plant, and equipment is HK$173,804,000, a decrease from HK$187,121,000 as of April 1, 2023, representing a decline of approximately 7.1%[76] - The total borrowings amounted to HK$34,111,000, an increase from HK$31,115,000 as of March 31, 2023, representing a growth of approximately 9.6%[98] Revenue Breakdown - For the six months ended September 30, 2023, the Group's total revenue was HK$78,859,000, with leasing revenue accounting for HK$67,781,000 and trading revenue at HK$11,078,000[27] - Revenue from Hong Kong was HK$72,381,000, with HK$61,774,000 from leasing and HK$10,607,000 from trading[27] - The Group's revenue for the same period in 2022 was HK$84,557,000, indicating a decrease of approximately 6.7% year-over-year[33] - Segment revenue from leasing was HK$67,781,000, while trading segment revenue was HK$11,078,000 for the six months ended September 30, 2023[40] - Revenue from external customers in Hong Kong was HK$72,381,000, a decrease of 7.3% from HK$77,911,000 in 2022[50] - Leasing income from rental services decreased to approximately HK$52.0 million in 1H2024, down from approximately HK$58.3 million in 1H2023[138] - Revenue from equipment operating services increased by approximately 20.4% to approximately HK$10.5 million in 1H2024, up from approximately HK$8.7 million in 1H2023[140] Expenses and Costs - Administrative expenses rose to HK$19,911,000, compared to HK$17,780,000 in the previous period, an increase of 12.0%[9] - Total staff costs rose to HK$28,887,000 from HK$26,358,000, representing an increase of about 9.7%[66] - The Group's cost of sales and services increased by approximately 1.7% to about HK$57.8 million in 1H2024, up from approximately HK$56.9 million in 1H2023[147] - Depreciation costs decreased to approximately HK$22.8 million in 1H2024 from approximately HK$25.5 million in 1H2023[148] - Selling and distribution expenses rose to approximately HK$0.4 million in 1H2024 from approximately HK$0.3 million in 1H2023, attributed to the promotion of the "green energy" concept[162] Cash Flow and Investments - Net cash from operating activities for the six months ended September 30, 2023, was HK$23,278,000, down from HK$27,837,000 in the previous year, indicating a decrease of 16.5%[15] - Cash and cash equivalents at the end of the period increased to HK$78,741,000 from HK$54,614,000, marking a significant increase of 44.2%[15] - The company reported a net cash used in investing activities of HK$9,154,000 for the six months ended September 30, 2023, compared to HK$18,262,000 in the prior year, showing a decrease of 49.9%[15] - Capital expenditures for 1H2024 amounted to approximately HK$17.0 million, primarily for leasing machinery, vehicles, and office equipment, compared to approximately HK$44.7 million for the year ended 31 March 2023[170] Market and Operational Insights - The Group experienced a significant decrease in equipment leasing demands in Hong Kong, particularly in the Kai Tak Area and Community Isolated Facilities[119] - In Macau, leasing revenue decreased due to reduced demand from private construction sites, although public work-related construction sites saw an increase in demand[122] - In Singapore, AP Singapore recorded an increase in revenues due to the continued growth of the construction industry, attributed to the booming economy[123] - The Group plans to expedite investment in mobile power supplies and related services in 2H2024, focusing on green energy solutions[129] - The Group intends to maintain revenue growth in Singapore and may consider further investments in leasing equipment to meet increasing demands[131] Employee and Corporate Governance - The Group employed 130 employees as of September 30, 2023, an increase from 127 employees as of March 31, 2023[200] - The remuneration policy for employees is regularly reviewed, and the Group provides additional benefits such as medical insurance and contributions to provident funds[200]
亚积邦租赁(01496) - 2024 - 中期财报