Financial Performance - The group reported a revenue of HKD 6,472,335,000 for the six months ended June 30, 2024, representing an increase from HKD 5,973,534,000 in the same period last year, which is a growth of approximately 8.4%[2] - The gross profit for the period was HKD 527,328,000, down from HKD 677,305,000 in the previous year, indicating a decrease of about 22.1%[2] - The profit attributable to the owners of the company was HKD 148,198,000, a decline from HKD 250,252,000 year-on-year, reflecting a decrease of approximately 40.7%[2] - Basic earnings per share decreased to HKD 11.9 from HKD 20.2, representing a decline of about 41.1%[2] - The total comprehensive income for the period was HKD 136,308,000, down from HKD 228,889,000 in the previous year, a decrease of approximately 40.4%[3] - The pre-tax profit for the six months ended June 30, 2024, was HKD 167,888, compared to HKD 329,486 for the same period in 2023, showing a decline of approximately 49%[17] - Investment and other income for the six months ended June 30, 2024, was HKD 10,930, compared to HKD 13,684 for the same period in 2023, indicating a decrease of approximately 20%[15] - The financial costs for the six months ended June 30, 2024, were HKD 11,908, down from HKD 15,386 in the same period of 2023, reflecting a reduction of about 22.5%[16] - The income tax expense for the six months ended June 30, 2024, was HKD 22,253, significantly lower than HKD 82,527 for the same period in 2023, a decrease of about 73%[18] Assets and Liabilities - Non-current assets amounted to HKD 885,039,000 as of June 30, 2024, a significant decrease from HKD 1,692,454,000 at the end of the previous year[4] - Current liabilities decreased to HKD 5,225,107,000 from HKD 5,500,139,000, indicating a reduction of about 5%[6] - The total equity attributable to the owners of the company increased to HKD 2,416,867,000 from HKD 2,376,470,000, reflecting a growth of approximately 1.7%[6] - The group’s cash and cash equivalents stood at HKD 1,131,248,000, down from HKD 1,299,649,000, indicating a decrease of about 13%[4] - Trade receivables as of June 30, 2024, amounted to HKD 529,696, down 12.4% from HKD 604,478 at the end of 2023[25] - Contract assets as of June 30, 2024, were HKD 3,450,491, a decrease of 5.7% from HKD 3,658,732 at the end of 2023[27] - Trade payables as of June 30, 2024, totaled HKD 285,838, a decrease of 32.2% from HKD 421,512 at the end of 2023[30] - The total interest-bearing borrowings decreased to HKD 178,000,000 from HKD 238,000,000, representing a reduction of 25.3%[40] - The total equity as of June 30, 2024, was HKD 2,439,000,000, up from HKD 2,402,000,000, reflecting a growth of 1.5%[42] - The capital debt ratio decreased to 7% from 10% as of December 31, 2023, indicating improved financial stability[42] Dividends - The company declared an interim dividend of HKD 0.03 per share[2] - The interim dividend declared on August 22, 2024, is HKD 0.03 per share, totaling approximately HKD 37,256,000, down from HKD 49,675,000 in the same period last year[22] - The interim dividend for the year ended December 31, 2023, was approved at HKD 0.08 per share, totaling approximately HKD 99,000,000[42] Operational Highlights - The segment profit for Hong Kong was HKD 206,636, while the segment loss for China was HKD 13,906, resulting in a total segment profit of HKD 192,730 for the six months ended June 30, 2024[12] - The company’s total segment revenue from construction contracts was HKD 6,363,753 for Hong Kong and HKD 108,582 for China, contributing to the overall revenue growth[10][12] - The company reported an increase in unbilled revenue from construction contracts, totaling HKD 2,621,307 as of June 30, 2024[27] - The company achieved new construction contract values of approximately HKD 8,200,000,000 since the beginning of the year[34] - The average steam supply from the company's four operational steam plants increased by 15% to 91 tons per hour, compared to 79 tons per hour in the previous year[36] Employee and Costs - Employee costs totaled HKD 939,000,000 for the period, compared to HKD 832,000,000 in the previous year, with the workforce increasing to 3,693 employees[39] Other Financial Matters - The company recognized a loss of HKD 42,730 from other losses for the six months ended June 30, 2024, compared to no losses reported in the same period of 2023[15] - The company expects to incur a loss of HKD 36,000,000 related to the termination of a land-sharing transaction in Hong Kong[37] - The fair value of a financial asset related to a joint venture project in Shenzhen was estimated at HKD 772,000,000, with a fair value gain of HKD 37,000,000 recorded for the period[38] - The company has made full provisions for the recoverability of a deposit of RMB 34,000,000 related to a terminated joint venture in Texas, reflecting ongoing legal proceedings[38] - As of June 30, 2024, the group's liquid assets amounted to HKD 1,950,000,000, an increase of 40.3% from HKD 1,390,000,000 on December 31, 2023[40] - The group has pledged bank deposits of HKD 82,000,000 to secure bank financing, an increase from HKD 70,000,000 as of December 31, 2023[43] - The group did not engage in any securities transactions involving the purchase, sale, or redemption of its listed securities during the six months ended June 30, 2024[47] - The company has adhered to the corporate governance code as per the listing rules, except for the separation of roles between the chairman and CEO[44]
利基控股(00240) - 2024 - 中期业绩