Revenue and Income - The Group's revenue from foundation services for the six months ended 30 September 2023 was HK$75,549,000, a decrease of 45% compared to HK$137,316,000 in the same period of 2022[3]. - Other income for the six months ended 30 September 2023 totaled HK$2,098,000, down from HK$5,345,000 in the previous year, primarily due to the absence of government grant income[6]. - The overall revenue of the Group decreased by approximately 45.0% to about HK$75,549,000 for the period, compared to approximately HK$137,316,000 in the comparative period[74]. - The Group's other income decreased from approximately HK$5,345,000 in the comparative period to approximately HK$2,098,000 during the period[79]. Financial Performance - The Group reported a net loss of approximately HK$23,524,000 during the Period, an improvement from a net loss of approximately HK$46,193,000 during the Comparative Period[58]. - The gross profit was approximately HK$1,508,000 during the Period, with a gross profit margin of approximately 2.0%, compared to a gross loss of approximately HK$21,045,000 and a gross loss margin of approximately 15.3% during the Comparative Period[47]. - The loss before tax for the period was HK$23,524,000, an improvement from a loss of HK$46,193,000 in the prior year[151]. - The total comprehensive income for the six months ended September 30, 2023, was a loss of HKD 22,498,000, compared to a loss of HKD 59,455,000 for the same period in 2022[192]. Expenses and Costs - Employee benefits expense for the six months ended 30 September 2023 was HK$2,478,000, significantly lower than HK$4,987,000 in the same period of 2022[15]. - The Group's administrative and other operating expenses increased by 28.0% from approximately HK$15,578,000 during the Comparative Period to approximately HK$19,941,000 during the Period[55]. - Interest on bank borrowings and other financing costs amounted to HK$7,189,000 for the six months ended 30 September 2023, compared to HK$4,580,000 in the same period of 2022[11]. - Finance costs increased by 57.0% from approximately HK$4,580,000 during the Comparative Period to approximately HK$7,189,000 during the Period, primarily due to an increase in imputed interest expenses[54]. Projects and Operations - As of 30 September 2023, the Group had a total of 4 active projects in progress, following the award of 2 new projects during the twelve months ended 30 September 2023[31]. - The Group shifted its focus from a proactive tender strategy to improving liquidity by reducing capital expenditures and strategically disposing of non-profitable machinery[62]. - The Group did not engage in any significant investments, acquisitions, or disposals during the Period, aside from the aforementioned acquisition[131]. Dividends and Shareholder Information - The Group did not recommend the payment of an interim dividend for the six months ended 30 September 2023, consistent with the previous year[20]. - The Board does not recommend the payment of an interim dividend to shareholders for the Period[111]. - As of September 30, 2023, Blessing Well holds 300,000,000 shares, representing a 75% interest in the Company[145]. - Mr. Chen, through Sendlink Limited, is deemed to have a 75% interest in the Company, holding the same number of shares[145]. Cash Flow and Financial Position - For the six months ended September 30, 2023, net cash generated from operating activities was HK$7,428,000, a decrease from HK$23,055,000 in the same period last year[173]. - Net cash generated from investing activities was HK$40,623,000, significantly higher than HK$1,399,000 in the previous year[173]. - Net cash used in financing activities amounted to HK$53,229,000, compared to HK$18,718,000 in the same period last year[173]. - The current ratio of the Group as of September 30, 2023, was 0.9, compared to 1.0 as of March 31, 2023[70]. Company Structure and Governance - The Company was incorporated in the Cayman Islands and has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since March 18, 2016[194]. - The immediate holding company of the Company is Blessing Well Enterprise Limited, incorporated in the British Virgin Islands[194]. - The audit committee has reviewed the interim financial statements for the period[148]. - The company has maintained a robust internal control system, regularly reviewing its effectiveness in financial, operational, and compliance controls[156]. Risk and Compliance - The Group's financial position has not been materially impacted by the application of new and amendments to HKFRSs during the current interim period[183]. - The company has not established an independent internal audit department but relies on the executive directors and senior management for internal control and risk management[155]. - The company has minimal exposure to foreign currency risk, primarily dealing in HK$ for most transactions[125].
剑虹集团控股(01557) - 2024 - 中期财报