Financial Performance - The company reported a loss of approximately HKD 2,436,000 for the six months ended December 31, 2023, compared to a loss of HKD 969,000 for the same period in 2022[1]. - The basic loss per share increased to HKD (0.04) from HKD (0.02) year-on-year[1]. - The group reported a loss of HKD 2,436,000 for the six months ended December 31, 2023, compared to a loss of HKD 969,000 for the same period in 2022[15]. - The group’s total comprehensive loss for the period was HKD 2,436,000, reflecting a significant increase in losses compared to the previous period[15]. - The company incurred a loss of HKD 2,435 thousand for the period, which is a significant increase from a loss of HKD 953 thousand in the prior year, reflecting a rise of approximately 155.5%[46]. Revenue and Profitability - Revenue from renovation services decreased by approximately HKD 33,900,000 or 54.9% to about HKD 27,900,000, primarily due to the completion of a contract with the Vocational Training Council[14]. - For the six months ending December 31, 2023, the company reported revenue of HKD 269,527 thousand, an increase from HKD 252,572 thousand in the same period of 2022, representing a growth of approximately 6.3%[46]. - Revenue from building maintenance services increased by approximately HKD 56.4 million or 30.4%, reaching about HKD 241.7 million compared to HKD 185.3 million in the same period last year[59]. - The gross profit for the same period was HKD 16,955 thousand, compared to HKD 12,208 thousand in the previous year, indicating a year-on-year increase of about 39.2%[46]. - The group’s building maintenance segment reported a profit of HKD 9,433,000, while the renovation segment contributed HKD 2,775,000 to the total profit of HKD 12,208,000[98]. Expenses and Liabilities - Administrative expenses increased by approximately HKD 9.2 million or 76% to approximately HKD 21.3 million during the period, primarily due to increased operating costs[137]. - The group’s total liabilities as of December 31, 2023, were HKD 116,960,000, up from HKD 93,847,000 as of June 30, 2023[100]. - The group’s trade and other payables as of December 31, 2023, totaled HKD 101,696,000, an increase from HKD 79,211,000 as of June 30, 2023[105]. Cash Flow and Assets - As of December 31, 2023, the company had cash and bank balances totaling approximately HKD 58,400,000, down from HKD 83,600,000 as of June 30, 2023[32]. - The net cash used in operating activities was HKD (25,973) thousand, compared to HKD (11,448) thousand for the same period in 2022, indicating a significant increase in cash outflow[175]. - The total cash and cash equivalents at the end of the period were HKD 58,362 thousand, an increase from HKD 34,396 thousand at the end of the previous year, representing a growth of 69.8%[175]. - As of December 31, 2023, the company's net asset value was HKD 129,478 thousand, a decrease from HKD 131,991 thousand as of June 30, 2023[48]. Contracts and Business Operations - The company did not secure any new contracts during the period, but was awarded five renovation contracts with an estimated total value of approximately HKD 21.86 million[58]. - The group completed 5 renovation contracts during the period, with a nominal or estimated contract value of approximately HKD 155.49 million as of December 31, 2023, compared to HKD 146.5 million as of June 30, 2023[132]. - The group has 13 renovation contracts on hand as of December 31, 2023, with an estimated contract value of approximately HKD 155.49 million, indicating a focus on core business opportunities in building maintenance[134]. Corporate Governance and Compliance - The company’s audit committee reviewed the interim financial results, which were prepared in compliance with applicable accounting standards and regulations[45]. - The company has adhered to all corporate governance code provisions during the reporting period, except for the absence of a shareholders' meeting since December 4, 2020[42]. - The board will continue to review the company's financial position and operations, formulating long-term business plans and strategies[161]. Employee and Workforce - As of December 31, 2023, the company had approximately 139 employees, an increase from 120 employees as of June 30, 2023, indicating a growth in workforce[189]. - The board of directors is committed to reviewing compensation schemes regularly to ensure competitiveness and retention of high-quality employees[189].
中国供应链产业(03708) - 2024 - 中期业绩