Financial Performance - The company reported a mid-term revenue of HKD 3,447,000,000, representing a 35% increase from HKD 2,539,000,000 in the same period last year[5]. - The net profit for the six months ending June 30, 2024, was HKD 35,600,000, compared to a net loss of HKD 48,600,000 in the previous year[5]. - The company reported revenue of HKD 3,446,519,000 for the six months ended June 30, 2024, representing a 35.8% increase from HKD 2,538,838,000 in the same period of 2023[24]. - Gross profit for the same period was HKD 372,519,000, up from HKD 248,595,000, indicating a significant improvement in profitability[24]. - The company achieved a profit before tax of HKD 46,861,000, compared to a loss of HKD 40,608,000 in the previous year[24]. - Net profit attributable to the company's owners was HKD 21,519,000, a recovery from a loss of HKD 59,751,000 in the prior year[24]. - The company reported a pre-tax profit of HKD 46,861,000 for the six months ended June 30, 2024, compared to a loss of HKD 40,608,000 in the same period last year[31]. - The group reported a pre-tax profit of 21,519,000 HKD for the six months ended June 30, 2024, compared to a loss of 59,751,000 HKD in the same period of 2023[65]. Revenue Breakdown - The foundation and geological investigation segment contributed revenue of HKD 1,102,000,000 and operating profit of HKD 65,300,000, up from HKD 1,021,000,000 and HKD 52,100,000 respectively in the previous year[8]. - The electrical and mechanical engineering segment generated revenue of HKD 1,510,000,000, an increase from HKD 861,000,000, but recorded an operating loss of HKD 13,600,000, improved from a loss of HKD 41,000,000[9]. - Revenue from construction services was HKD 3,125,482,000, up from HKD 2,284,723,000, indicating a growth of about 37%[48]. - Revenue from construction services was HKD 1,510,148,000, contributing significantly to the overall revenue, compared to HKD 861,092,000 in the previous year, marking an increase of about 75.5%[52]. - Revenue from plastic raw materials and chemical products was HKD 246,198,000, while revenue from geological survey services was HKD 1,102,053,000, highlighting diverse revenue streams[52]. Operational Efficiency - The management acknowledges the challenging economic outlook but remains committed to optimizing project execution and procurement processes to improve operational efficiency[9]. - The company plans to continue expanding its market presence and exploring new strategies for growth[23]. - New product development initiatives are underway, particularly in the construction and engineering sectors, aimed at enhancing service delivery and operational efficiency[49]. Financial Position - The company’s total assets as of June 30, 2024, were HKD 5,925,168,000, compared to HKD 5,573,294,000 as of December 31, 2023[26]. - The group’s interest-bearing debt totaled HKD 923.5 million as of June 30, 2024, up from HKD 773.6 million at the end of 2023, with a debt ratio of 43.8%[18]. - The total liabilities as of June 30, 2024, were HKD 3,630,951,000, compared to HKD 3,280,443,000 as of December 31, 2023, showing an increase of around 10.7%[46]. - The company’s total liabilities to assets ratio as of June 30, 2024, was approximately 61.3%, indicating a relatively high leverage position[46]. - The company’s cash and cash equivalents totaled HKD 1.0653 billion as of June 30, 2024, slightly down from HKD 1.071 billion at the end of 2023[18]. - The company’s cash and cash equivalents stood at HKD 1,065,265,000, slightly down from HKD 1,070,999,000 at the end of 2023[26]. Strategic Development - The company plans to expand its service portfolio and market share through strategic development of its subsidiaries, including Driltech's new offshore exploration contract[8]. - The company aims to diversify its capabilities to participate in a broader range of tenders, which is expected to yield significant benefits in the coming years[8]. - The company is focusing on enhancing workplace safety to reduce work-related accidents and is investing in talent, equipment, and facilities to strengthen its market position[8]. - The company is exploring new technologies such as zero-carbon, robotics, digitalization, and urban air transport to diversify its operations[14]. Dividend and Shareholder Information - The company has not declared an interim dividend for the six months ending June 30, 2024, consistent with the previous year[6]. - Major shareholder Wang Shih-Wing holds 438,334,216 shares, representing 73.68% of the issued share capital[91]. - The group did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[66]. Cash Flow and Investments - The company recorded a cash outflow from operating activities of HKD 113,717,000 for the six months ended June 30, 2024, compared to an inflow of HKD 81,090,000 in the previous year[31]. - The company reported a net cash outflow from investing activities of HKD 39,816,000 for the six months ended June 30, 2024, compared to HKD 75,496,000 in the same period of 2023, representing a decrease of approximately 47%[32]. - Financing activities generated a net cash inflow of HKD 148,981,000, up from HKD 94,074,000 in the previous year, indicating a growth of about 58%[32]. Management and Governance - The audit committee has reviewed the interim results for the six months ended June 30, 2024, which were unaudited[88]. - The company has complied with the corporate governance code as per the listing rules during the six months ended June 30, 2024, except for the specific provision B.2.2[87].
建联集团(00385) - 2024 - 中期财报