Financial Performance - Revenue for the six months ended 30 November 2021 amounted to approximately HK$122.0 million, a decrease of 33.3% compared to approximately HK$182.8 million for the same period in 2020[16]. - Profit attributable to equity shareholders for the six months ended 30 November 2021 was approximately HK$10.1 million, down 54.8% from approximately HK$22.0 million for the same period in 2020[16]. - Gross profit decreased by approximately 48.5% from approximately HK$30.6 million for the corresponding prior period to approximately HK$15.8 million for the period[46]. - The Group's total comprehensive income for the period was HK$10.1 million, down 54.0% from HK$22.0 million in the same period last year[80]. - For the six months ended November 30, 2021, profit before taxation was HK$10,116,000, a decrease from HK$21,985,000 in the same period of 2020, representing a decline of approximately 54.0%[124][125]. - Basic earnings per share for the six months ended 30 November 2021 was HK$0.0045, compared to HK$0.0132 for the same period in 2020, reflecting a decrease of approximately 65.9%[124][126]. Revenue Breakdown - Revenue from marine construction works was HK$64,791,000, down 30.9% from HK$93,994,000 in the previous year[110]. - Revenue from other civil engineering works decreased by 37.4% to HK$50,413,000 from HK$80,619,000[110]. - Vessel chartering services revenue fell to HK$6,834,000, a decline of 16.6% from HK$8,191,000[110]. - Revenue from other civil engineering works amounted to approximately HK$50.4 million, accounting for approximately 41.3% of the total revenue, down from 44.1% in the prior period[25]. Project and Contract Information - The Group undertook 12 projects during the period with an aggregate initial contract sum of approximately HK$306.9 million, with one project completed and nine expected to be completed by May 31, 2022[29]. - As of November 30, 2021, the Group had 11 projects on hand with an aggregate initial contract sum of approximately HK$283.8 million[30]. - The Group has not experienced significant employee issues or difficulties in recruitment and retention during the period[65]. Dividends and Shareholder Information - The Board does not recommend the declaration of any interim dividend for the six months ended 30 November 2021[16]. - The Group resolved not to declare any interim dividend for the period, compared to HK$40 million for the corresponding prior period[52]. - The company declared a final dividend of HK$24,997,000 for 2021, compared to HK$10,109,000 in the previous year, indicating an increase of 147.5%[89]. - As of November 30, 2021, Mr. Heung Che Kan holds 1,482,000,000 shares, representing a 66.64% ownership in the company[170]. - Ms. Mok Man Yee Lisa, as the spouse of Mr. Heung, also holds 1,482,000,000 shares, equating to a 66.64% ownership[170]. Operational and Strategic Developments - The Group plans to establish an e-commerce subsidiary to develop online sales and integrate big data and cloud computing technology for refined marketing strategies[18]. - The Group remains conservatively optimistic about its long-term business prospects despite the adverse effects of COVID-19 on market sentiment[18]. - The Group will continue to explore suitable business opportunities and may expand beyond the Hong Kong market in the future[18]. - The Group's principal business operations have not significantly changed during the period[17]. Financial Position and Assets - As of November 30, 2021, total assets amounted to HK$191,705,000, a decrease of 8.1% from HK$208,643,000 as of May 31, 2021[83]. - Net current assets decreased to HK$135,361,000 from HK$151,559,000, reflecting a decline of 10.7%[83]. - The company's net assets stood at HK$186,912,000, down 7.4% from HK$201,793,000 as of May 31, 2021[83]. - Cash and cash equivalents decreased significantly to HK$83,437,000 from HK$124,517,000, marking a decline of 33.0%[89]. Governance and Compliance - The company has complied with the Corporate Governance Code during the reporting period, ensuring adherence to best practices[158]. - All directors have confirmed compliance with the Model Code for Securities Transactions during the reporting period, maintaining high governance standards[159]. - The Audit Committee, established on November 13, 2020, consists of three independent non-executive Directors overseeing financial reporting and internal controls[182]. Employee and Cost Management - Total staff costs for the period amounted to approximately HK$13.4 million, a decrease of 24.6% compared to approximately HK$17.8 million for the six months ended 30 November 2020[64]. - Staff costs, including directors' emoluments, decreased to HK$13,021,000 for the six months ended 30 November 2021 from HK$17,237,000 in 2020, a reduction of approximately 24.5%[121].
天成控股(新)(02110) - 2022 Q2 - 季度业绩