Financial Performance - The company recorded a net profit of approximately HKD 707,000 for the six months ended September 30, 2023, a decrease of about HKD 1.3 million compared to the same period in 2022[8]. - For the six months ended September 30, 2023, the company's revenue was approximately HKD 128.9 million, a decrease of 16.5% compared to HKD 154.4 million for the same period in 2022[44]. - The gross profit for the period was approximately HKD 3.2 million, an increase of about HKD 1.3 million or 64.7% from HKD 1.9 million in the previous year[11]. - The company reported a net profit attributable to equity holders of HKD 0.7 million for the six months ended September 30, 2023, compared to HKD 2.0 million in the same period last year[44]. - The company incurred a total comprehensive income of HKD 707,000 for the six months ended September 30, 2023, compared to a total comprehensive income of HKD 1,960,000 for the same period in 2022[48]. - Profit before tax for the six months ended September 30, 2023, was HKD 707,000, down from HKD 1,960,000, a decrease of 64.0%[79]. - Basic earnings per share decreased to HKD 0.06 from HKD 0.16, a decline of 62.5%[79]. Revenue and Contracts - Revenue from foundation engineering reached approximately HKD 128.9 million, a decrease of about HKD 25.5 million or 16.5% compared to HKD 154.4 million for the same period in 2022[10]. - The company was awarded three new contracts with a total original contract amount of approximately HKD 37.0 million during the period[9]. - For the six months ended September 30, 2023, the company reported contract revenue of HKD 154,414,000, an increase of 19.7% compared to HKD 128,904,000 for the same period in 2022[65]. - Total revenue for the six months ended September 30, 2023, was HKD 154,414,000, up from HKD 128,904,000, reflecting a growth of 19.8%[71]. - The company had an unrecognized contract amount of approximately HKD 156.0 million as of September 30, 2023, and continues to bid for large and quality projects[8]. Expenses and Costs - Other income for the period was approximately HKD 6.5 million, a decrease of about HKD 2.6 million or 28.2% from HKD 9.1 million in the previous year[14]. - Administrative expenses increased to approximately HKD 10.1 million, up about HKD 0.6 million or 6.8% from HKD 9.5 million in the previous year[15]. - Financing costs rose to approximately HKD 756,000, an increase of about HKD 671,000 or 789.4% compared to HKD 85,000 in the previous year[17]. - The total employee cost for the period was approximately HKD 38.0 million, a slight decrease from HKD 38.9 million for the same period in 2022, reflecting effective cost control measures[39]. Cash Flow and Liquidity - The company’s cash and cash equivalents totaled approximately HKD 5.1 million as of September 30, 2023, down from HKD 17.2 million as of March 31, 2023[25]. - The net cash flow from operating activities for the six months ended September 30, 2023, was a negative HKD 7,416,000, compared to a positive HKD 4,150,000 in the same period of 2022[51]. - The company’s financing activities resulted in a net cash outflow of HKD 2,041,000 for the six months ended September 30, 2023, compared to a net cash outflow of HKD 44,000 in the same period of 2022[51]. - Cash and bank balances were HKD 5,125,000 as of September 30, 2023, significantly lower than HKD 17,221,000 as of March 31, 2023, a decline of 70.2%[98]. Assets and Liabilities - The company reported a total equity of HKD 86,370,000 as of September 30, 2023, compared to HKD 80,788,000 as of April 1, 2022[48]. - The debt-to-equity ratio as of September 30, 2023, was approximately 50.2%, slightly up from 49.6% as of March 31, 2023, due to a decrease in total liabilities and an increase in equity[28]. - The company’s accumulated losses as of September 30, 2023, were HKD 7,621,000, an increase from HKD 9,138,000 as of April 1, 2022[48]. - The total amount of uncompleted long-term construction contracts was HKD 156,385,000 as of September 30, 2023, slightly down from HKD 160,000,000 as of March 31, 2023, a decrease of 2.6%[97]. Trade Receivables and Payables - Total trade receivables increased to HKD 16,022,000 from HKD 13,978,000, an increase of 7.5%[83]. - Trade receivables as of September 30, 2023, amounted to HKD 16,402,000, an increase of 12.7% from HKD 14,556,000 as of March 31, 2023[88]. - Trade payables decreased from HKD 41,827,000 as of March 31, 2023, to HKD 32,323,000 as of September 30, 2023, representing a reduction of approximately 22.7%[100]. - The aging analysis of trade payables shows that amounts overdue for more than 90 days remained stable at HKD 20,103,000 as of September 30, 2023, compared to HKD 20,171,000 as of March 31, 2023[101]. Corporate Governance and Shareholding - The company has adopted the corporate governance code as per the listing rules, with a noted deviation regarding the roles of Chairman and CEO being held by the same individual, Mr. Chan[123]. - As of September 30, 2023, Mr. Chan holds 900,000,000 shares, representing a 75% equity interest in Oriental Castle Group Limited[117]. - Oriental Castle, a direct shareholder of the company, has a total of 900,000,000 shares, also representing a 75% equity interest[121]. - Ms. Zhu, as the spouse of Mr. Chan, is deemed to have an equity interest in the 900,000,000 shares held by Oriental Castle, which is 75%[122]. Audit and Compliance - The interim financial statements for the group have not been audited but reviewed by the audit committee, which confirms compliance with applicable accounting standards and regulations[135]. - The audit committee, established on May 14, 2018, consists of three independent non-executive directors, with Mr. Ho as the chairman[134]. - No significant subsequent events have occurred after the reporting period up to the date of this report[133].
俊裕地基(01757) - 2024 - 中期财报