Financial Performance - For the six months ended February 29, 2024, ECI Technology Holdings Limited reported revenue of approximately HKD 105,913,000, an increase of 38.6% compared to HKD 76,490,000 for the same period in 2023[10]. - The gross profit for the same period was approximately HKD 27,434,000, representing a 32.6% increase from HKD 20,703,000 in the previous year[10]. - The net profit for the period was approximately HKD 6,788,000, which is a 66.5% increase compared to HKD 4,075,000 in the prior year[11]. - The operating profit for the period was HKD 7,536,000, up from HKD 4,605,000, indicating a growth of 63.0%[19]. - Total comprehensive income attributable to the company's owners for the period was HKD 7,203,000, compared to HKD 2,460,000 in the previous year, representing a significant increase of 192%[21]. - Basic and diluted earnings per share increased to HKD 0.424 from HKD 0.255, reflecting a growth of 66%[21]. - The company reported a pre-tax profit of HKD 7,411,000 for the six months ended February 29, 2024, compared to HKD 4,512,000 for the same period in 2023[46][48]. Revenue Breakdown - Revenue from installation services increased to HKD 51,379,000, up 41.7% from HKD 36,281,000 year-over-year[42][46]. - Security services revenue rose significantly to HKD 14,163,000, compared to HKD 2,649,000 in the previous year, marking a 434.5% increase[42][46]. - The electric vehicle charging business generated revenue of HKD 97,000 in its initial six-month period[42][46]. - The company's revenue increased by approximately 38.47% from about HKD 76,490,000 to approximately HKD 105,913,000 for the six months ended February 29, 2024, primarily due to increased revenue from security services[110]. Expenses and Costs - Administrative expenses increased to HKD 20,780,000 from HKD 17,228,000, reflecting a rise of 14.8%[19]. - The cost of sales rose by approximately 40.18% from about HKD 55,787,000 to approximately HKD 78,479,000, consistent with the revenue increase[111]. - Total employee costs increased to 51,545,000 HKD from 41,631,000 HKD, reflecting a rise of approximately 24%[65]. - Financing costs increased to 125,000 HKD from 93,000 HKD, primarily due to higher bank borrowings[62]. Assets and Liabilities - Non-current assets rose to HKD 13,615,000 from HKD 13,882,000, a decrease of 1.9%[23]. - Trade receivables increased to HKD 37,314,000 from HKD 32,774,000, showing a growth of 13.4%[23]. - The company's total assets less current liabilities increased to HKD 85,331,000 from HKD 78,200,000, reflecting a growth of 9.3%[24]. - The group’s total liabilities increased to HKD 24,567,000 as of February 29, 2024, from HKD 22,728,000 as of August 31, 2023[55]. Cash Flow - Cash and cash equivalents at the end of the period were HKD 34,501,000, up from HKD 21,709,000, indicating a rise of 58.7%[29]. - Net cash generated from operating activities was HKD 13,235,000, compared to a cash outflow of HKD 1,047,000 in the previous year[29]. - The company reported a net increase in cash and cash equivalents of HKD 12,792,000, reversing a decrease of HKD 5,308,000 from the prior year[29]. Strategic Focus and Future Plans - ECI Technology Holdings Limited continues to focus on enhancing its operational efficiency and exploring new market opportunities for future growth[10]. - The company is focusing on bidding for ELV maintenance service contracts to strengthen customer relationships and expand market share[108]. - The company is operating two electric vehicle charging stations and plans to leverage this experience to explore new service station opportunities[108]. - The company has diversified its operations by launching the electric vehicle charging business to enhance long-term growth potential[43][46]. Shareholder Information - The company did not recommend the payment of an interim dividend for the period[12]. - The company has no other share plans apart from the stock option plan as of February 29, 2024[129]. - ECI Technology Holdings Limited's major shareholders include ECI Asia with 880,000,000 shares (55%) and Mr. Yang Shuo with 320,000,000 shares (20%) as of February 29, 2024[135]. - The total number of issued shares as of February 29, 2024, is 1,600,000,000[135]. Corporate Governance - The audit committee, consisting of four independent non-executive directors, reviewed the unaudited interim financial results for the six months ending February 29, 2024[147]. - The company has adopted the corporate governance code as per GEM listing rules and has maintained compliance with its principles[142]. - The company has confirmed compliance with the non-competition agreement by its major shareholders as of February 29, 2024[140].
ECI TECH(08013) - 2024 - 中期业绩