Financial Performance - For the six months ended October 31, 2023, revenue was approximately HKD 25.7 million, a decrease of about 53.0% compared to HKD 54.5 million for the same period in 2022[8]. - The loss attributable to equity holders for the six months ended October 31, 2023, was approximately HKD 4.3 million, compared to a loss of HKD 10.2 million for the same period in 2022[8]. - Basic and diluted loss per share for the six months ended October 31, 2023, was approximately HKD 0.0175, compared to earnings of HKD 0.0424 per share for the same period in 2022[8]. - The gross profit for the six months ended October 31, 2023, was approximately HKD 0.5 million, a decrease of about 62.7% from HKD 1.4 million for the same period in 2022[15]. - The gross profit margin decreased from approximately 2.61% for the six months ended October 31, 2022, to about 2.1% for the same period in 2023[15]. - The company incurred a loss before tax of HKD 10,220,000 for the six months ended October 31, 2023, compared to a loss of HKD 4,321,000 for the same period in 2022, indicating a significant increase in losses[49]. - The basic and diluted loss per share for the six months was HKD 4.24, compared to HKD 1.75 for the same period in 2022, reflecting a worsening financial performance[49]. - The company reported a net loss of HKD 4,321,000 for the six months ended October 31, 2023, compared to a loss of HKD 10,220,000 for the same period in 2022, indicating an improvement of approximately 57.7%[53]. - For the three months ended October 31, 2023, the company reported a loss attributable to equity holders of HKD 2,700,000, compared to a loss of HKD 6,733,000 for the same period in 2022, representing a 60% improvement[76]. - For the six months ended October 31, 2023, the loss attributable to equity holders was HKD 4,321,000, down from HKD 10,220,000 in 2022, indicating a 58% reduction in losses[76]. Revenue and Costs - The decrease in revenue was primarily due to a reduction in renovation projects conducted in Hong Kong during the reporting period[13]. - Direct costs decreased by approximately 52.7% to HKD 25.1 million for the six months ended October 31, 2023, down from HKD 53.1 million for the same period in 2022[15]. - Administrative expenses decreased by approximately HKD 9.6 million or 86.7% to about HKD 1.5 million for the six months ended October 31, 2023, compared to HKD 11.1 million for the same period in 2022[16]. - The company's employee costs, including director remuneration, totaled HKD 1,069,000 for the six months ended October 31, 2023, a decrease from HKD 3,349,000 in the same period of 2022, reflecting a 68% reduction[69]. Cash Flow and Assets - Cash and bank balances decreased by approximately HKD 1.2 million to about HKD 0.3 million as of October 31, 2023, compared to HKD 1.5 million as of April 30, 2023[19]. - Cash and cash equivalents decreased to HKD 316,000 as of October 31, 2023, from HKD 1,546,000 at the beginning of the period, a decline of approximately 79.6%[55]. - Trade receivables as of October 31, 2023, amounted to HKD 30,737,000, slightly down from HKD 31,392,000 as of April 30, 2023[78]. - The company reported contract assets of HKD 11,040,000 as of October 31, 2023, an increase from HKD 8,754,000 as of April 30, 2023, indicating a 26% growth[83]. - The company's equity attributable to owners decreased to HKD 71,875,000 as of October 31, 2023, from HKD 76,196,000 as of April 30, 2023, a decrease of approximately 5.7%[51]. - Total assets amounted to HKD 92,296,000, an increase from HKD 87,205,000 as of April 30, 2023, representing an increase of approximately 3.8%[51]. Dividends and Share Capital - The company does not recommend the payment of an interim dividend for the six months ended October 31, 2023[9]. - The board of directors did not recommend the payment of an interim dividend for the six months ended October 31, 2023, consistent with the previous year[40]. - The issued share capital was HKD 12,320,000 with 246,400,000 shares as of October 31, 2023, with a par value of HKD 0.05 per share[27]. - The total number of issued and fully paid ordinary shares remained at 246,400,000 as of October 31, 2023[90]. Market and Business Strategy - The company plans to expand its business into other markets in the Asia-Pacific region, including Japan, Thailand, and Singapore, while continuing to focus on the Hong Kong construction industry[12]. - The Hong Kong government has committed to developing the construction industry, with annual basic engineering expenditure exceeding HKD 100 billion and overall construction volume expected to reach approximately HKD 300 billion annually[12]. Liabilities and Commitments - The company had no capital commitments as of October 31, 2023, consistent with the situation on April 30, 2023[25]. - The debt-to-equity ratio was approximately zero as of October 31, 2023, unchanged from April 30, 2023[22]. - The company had no significant contingent liabilities as of October 31, 2023, similar to the status on April 30, 2023[26]. - The group reported no significant contingent liabilities as of October 31, 2023[92]. Other Information - The company did not engage in any acquisitions or disposals of subsidiaries or associated companies during the reporting period[31]. - There were no significant investments or capital asset plans during the reporting period[31]. - The company has not reported any new product developments or market expansions during this period[58]. - There are no significant mergers or acquisitions reported in the current financial period[58]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[37]. - The company is actively seeking suitable candidates to fill the vacancy left by the resignation of an independent non-executive director to comply with GEM listing rules[38]. - The audit committee reviewed the unaudited interim financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[47]. - There were no significant post-reporting period events disclosed as of the report date[42].
泰锦控股(08321) - 2024 - 中期财报