创业集团控股(02221) - 2025 - 中期业绩

Financial Performance - Revenue for the six months ended September 30, 2024, increased to HK$362.3 million, up 18$307.1 million in the same period last year[10] - Gross profit decreased to HK$33.9 million, a decline of 17$40.8 million in the previous year[10] - Loss for the period amounted to HK$20.1 million, compared to a loss of HK$9.3 million in the same period last year, representing a 116% increase in losses[11] - Basic and diluted loss per share attributable to the owners of the Company was HK$0.92, compared to HK$0.42 in the previous year, reflecting a 119% increase in loss per share[11] - The Company reported a total comprehensive loss of HK$13.3 million for the period, compared to a loss of HK$30.6 million in the previous year[14] - Loss before tax for the six months ended 30 September 2024 was HK$52,552, compared to HK$56,594 for the same period in 2023, representing a decrease of 7.2%[68] Assets and Liabilities - Total non-current assets as of September 30, 2024, were HK$786.3 million, an increase from HK$752.7 million as of March 31, 2024[17] - Current assets increased to HK$414.7 million from HK$351.4 million, marking an increase of 18%[17] - Cash and cash equivalents rose to HK$53.4 million, up from HK$37.3 million, indicating a 43% increase[17] - Total current liabilities increased to HK$409,178,000 as of September 30, 2024, compared to HK$337,384,000 as of March 31, 2024, reflecting a growth of approximately 21.3%[19] - Net current assets decreased to HK$5,559,000 as of September 30, 2024, down from HK$14,007,000 as of March 31, 2024, indicating a decline of about 60.3%[19] - Total non-current liabilities rose to HK$337,861,000 as of September 30, 2024, from HK$300,206,000 as of March 31, 2024, representing an increase of approximately 12.5%[19] - Net assets decreased to HK$454,034,000 as of September 30, 2024, compared to HK$466,479,000 as of March 31, 2024, showing a reduction of about 2.7%[19] Revenue Segmentation - Revenue from construction works and environmental protection projects is segmented into foundation works, civil engineering, and environmental protection services, indicating diversified operational focus[31] - For the six months ended September 30, 2024, total revenue reached HK$362,293,000, a 17.98$307,098,000 in the same period of 2023[36] - Construction works generated revenue of HK$313,761,000, up 20.5$260,452,000 year-on-year[36] - Environmental protection segment revenue was HK$48,532,000, a slight increase of 4.0$46,646,000 in the previous year[36] Expenses and Income - Administrative expenses decreased to HK$49.5 million from HK$52.6 million, a reduction of 6%[10] - Other income and gains decreased to HK$3.1 million from HK$8.8 million, a decline of 65%[10] - Bank interest income increased to HK$70,000 from HK$58,000, while other income decreased significantly from HK$8,763,000 to HK$3,081,000[57] - Finance costs rose to HK$8,484,000, up from HK$6,371,000, primarily due to increased bank loan interest[60] - The company reported a total of HK$3,081,000 in other income, which included HK$1,262,000 from the disposal of property, plant, and equipment[57] - The company capitalized HK$12,146,000 in interest, which contributed to the reduction of finance costs[60] Strategic Focus and Future Outlook - The company is focused on expanding its environmental protection segment, which includes waste treatment and new energy materials in Mainland China, highlighting growth opportunities in this sector[31] - Future outlook includes continued expansion in construction and environmental sectors, with a focus on new energy materials and waste management technologies[36] Project and Capacity Updates - The Group had 9 projects in progress as of September 30, 2024, with an aggregate contract value of approximately HK$2,372.89 million, and all projects were reported to be on schedule[145][148]. - The Hefei Plant has a permitted capacity of 200 tons per day, which was fully utilized as of September 30, 2024[156][160]. - The Xuancheng Plant has a total planned capacity of 300 tons per day, with Phase 1 construction completed and trial commercial operation commenced in 1H2023[157][163]. - Xuancheng Plant's treatment volume increased to 132 tons per day by the end of September 2024[165] - Dunhua Plant has a planned capacity of 210 tons per day but has not commenced any business or construction due to ongoing land expropriation processes[169] - Guoyang Plant has a planned capacity of 126 tons per day, with the concession agreement signed in March 2022, but has not started any operations as of September 30, 2024[170] - Hanzhong Plant, an 80%-owned subsidiary, has yet to commence any business or construction, facing issues with concession arrangements with the municipal government[180] - Hancheng Plant was granted an exclusive concession right for a capacity of 20,000 tons per annum for 30 years, but construction has been pending since FY2020 due to design deficiencies and land issues[192] - Hancheng Plant's construction has been on hold since FY2020, with penalties imposed for occupying collective land, amounting to approximately RMB260,000[196]