Revenue and Profitability - The total revenue for the six-month period ending December 31, 2023, was approximately HKD 269.5 million, an increase of about HKD 22.4 million or 9.1% compared to HKD 247.1 million in the same period of 2022[5] - Revenue from building maintenance services increased by approximately HKD 56.4 million or 30.4% to about HKD 241.7 million, up from approximately HKD 185.3 million in the same period of 2022[12] - The gross profit for the period was approximately HKD 17.0 million, an increase of about HKD 4.8 million, with a gross profit margin of approximately 6.3%, up from 4.9% in 2022[13] - Revenue for the six months ended December 31, 2023, was HKD 269,527,000, an increase from HKD 247,060,000 in the same period of 2022, representing an increase of approximately 9.2%[50] - The gross profit for the same period was HKD 16,955,000, compared to HKD 12,208,000 in 2022, indicating a growth of about 39.1%[50] - The segment profit for building maintenance was 15,340 thousand HKD, up 62.5% from 9,433 thousand HKD in the previous year, while the renovation segment profit decreased to 1,615 thousand HKD from 2,775 thousand HKD[72] Losses and Expenses - The group recorded a loss of approximately HKD 2.4 million for the period, compared to a loss of HKD 0.95 million in 2022, primarily due to increased administrative expenses[22] - The loss before tax for the six months was HKD 2,427,000, worsening from a loss of HKD 996,000 in the previous year[50] - The total comprehensive loss for the period was HKD 2,435,000, compared to a loss of HKD 953,000 in the same period last year[50] - Administrative expenses rose by approximately HKD 9.2 million or 76% to about HKD 21.3 million, up from approximately HKD 12.1 million in the same period of 2022[20] - The company reported a basic and diluted loss per share of HKD 0.04, compared to HKD 0.02 in the previous year[50] - The company 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[80] Cash Flow and Financial Position - As of December 31, 2023, the group's cash and bank balances totaled approximately HKD 58.4 million, down from HKD 83.6 million as of June 30, 2023[22] - The net cash used in operating activities was (25,973) thousand HKD, compared to (11,448) thousand HKD for the same period in 2022, representing an increase in cash outflow of 127.5%[58] - The cash and cash equivalents at the end of the period were 58,362 thousand HKD, an increase from 34,396 thousand HKD at the end of the previous year[58] - The net cash generated from investing activities was 1,922 thousand HKD, a decrease of 63.3% from 5,231 thousand HKD in the same period of 2022[58] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 242,301,000, an increase from HKD 220,754,000 as of June 30, 2023[51] - Current liabilities increased to HKD 115,732,000 from HKD 92,929,000, reflecting a rise of approximately 24.5%[51] - The total liabilities as of December 31, 2023, were 116,960 thousand HKD, an increase of 24.7% from 93,847 thousand HKD as of June 30, 2023[74] - The net asset value decreased to HKD 129,478,000 from HKD 131,991,000, a decline of about 1.9%[53] Contracts and Business Operations - The company had three building maintenance contracts with an estimated total value of approximately HKD 1,236 million as of December 31, 2023, down from four contracts valued at approximately HKD 1,587 million as of June 30, 2023[6] - The company secured five new renovation contracts during the period, with an estimated total value of approximately HKD 21.86 million, which have not yet commenced[10] - The company aims to continue focusing on opportunities in its core business of building maintenance, particularly in the public sector[11] - The company anticipates stable growth in the building maintenance and renovation contracting services sector in Hong Kong due to economic recovery and ongoing public sector spending on infrastructure and residential projects[33] Shareholder and Governance Information - As of December 31, 2023, the company has a total of 3,268,750,000 shares held by Huaiya International Limited, representing 58.43% of the total issued shares of 5,594,000,000[35] - The board does not recommend the payment of an interim dividend for the six months ended December 31, 2023, compared to zero in 2022[32] - The company has complied with all relevant provisions of the Corporate Governance Code during the reporting period, except for the failure to hold an annual general meeting since December 4, 2020[42] - The company will hold an annual general meeting where directors will retire and seek re-election, addressing compliance with the Corporate Governance Code[42] Stock Options and Employee Benefits - The company has not granted any stock options since adopting the plan, and there are no unexercised stock options at the end of the period[37] - The stock options plan was adopted to attract and retain high-quality employees and provide additional incentives to various stakeholders[39] - The exercise price of the stock options will not be lower than the higher of the closing price on the grant date or the average closing price over the five trading days preceding the grant date[40] - Short-term benefits for the six months ended December 31, 2023, amounted to HKD 5,716,000, a significant increase from HKD 428,000 in the same period of 2022[94]
中国供应链产业(03708) - 2024 - 中期财报