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荣利营造(09639) - 2024 - 中期财报

Financial Performance - The company's revenue for the six months ended September 30, 2024, was HKD 400.8 million, representing a 77% increase compared to HKD 226.5 million in the same period of 2023[13]. - Gross profit for the same period was HKD 80.3 million, up 56% from HKD 51.5 million year-on-year[13]. - Operating profit increased by 19% to HKD 48.5 million, compared to HKD 40.6 million in the previous period[13]. - The company recorded a net profit of HKD 37.5 million, a 14% increase from HKD 32.9 million in the prior period[13]. - Basic and diluted earnings per share rose to HKD 0.05, reflecting a 25% increase from HKD 0.04 in the previous period[13]. - Revenue increased from approximately HKD 226.5 million to about HKD 400.8 million, a rise of approximately HKD 174.3 million or 77% due to an increase in the average contract size[29]. - Gross profit rose by approximately HKD 28.8 million or 56% to about HKD 80.3 million, while the gross margin decreased from approximately 22.8% to 20.0%[30]. - Net profit for the period increased by approximately HKD 4.6 million or 14% to about HKD 37.5 million[36]. - The company reported a profit of HKD 37,541 million for the period, compared to HKD 32,895 million, showing an increase of 14.3%[111]. Project and Contract Updates - The company had 25 ongoing projects as of September 30, 2024, with a total project value of approximately HKD 746.6 million, up from HKD 707.6 million as of March 31, 2024[16]. - Revenue from civil engineering amounted to approximately HKD 303.8 million, an increase of 111% compared to the previous period[18]. - The third runway project at Hong Kong International Airport contributed approximately HKD 266.0 million to civil engineering revenue, accounting for 87.4% of that segment's total[18]. - The company successfully won contracts for a residential development project in Song Wong Toi valued at approximately HKD 266.4 million and a public facility development project in Sha Tin valued at approximately HKD 42.0 million[19]. - The company is now qualified to bid for maintenance and repair projects at Hong Kong International Airport following its inclusion in the pre-qualified list of contractors[18]. - The cable engineering segment recorded revenue of approximately HKD 80.7 million, an increase of about HKD 21.8 million or 37% compared to the previous period[21]. - The group secured an 8-year cable engineering contract in Kowloon and the New Territories, with a total contract value expected to exceed HKD 1 billion, projected to be completed in the second half of 2032[21]. Financial Position and Ratios - As of September 30, 2024, the group's current ratio was approximately 1.35 times, down from 1.46 times on March 31, 2024[39]. - The capital debt ratio as of September 30, 2024, was approximately 22.3%, down from 34.1% on March 31, 2024[40]. - Cash and cash equivalents were approximately HKD 32.3 million as of September 30, 2024, compared to HKD 27.4 million on March 31, 2024[38]. - As of September 30, 2024, the group's net current assets amounted to HKD 79.4 million, a decrease from HKD 86.1 million as of March 31, 2024[41]. - The group's capital expenditure during the reporting period was approximately HKD 20.3 million, significantly higher than HKD 5.6 million in the previous period[44]. - The total employee costs, including director remuneration, were approximately HKD 79.6 million, compared to HKD 55.4 million in the same period last year[57]. - The total assets increased to HKD 407,617 million as of September 30, 2024, up from HKD 365,777 million as of March 31, 2024, representing a growth of 11.3%[107]. - Total liabilities increased to HKD 244,555 million, up from HKD 210,385 million, indicating a rise of 16.2%[109]. - The total equity increased to HKD 163,062 million from HKD 155,392 million, reflecting a growth of 4.3%[109]. Shareholder and Capital Structure - The company issued 749,999,000 shares at a par value of HKD 0.01 per share, capitalizing HKD 7,499,990 into the share premium account on October 9, 2024[63]. - A total of 250,000,000 shares were successfully listed on the main board of the Stock Exchange at an issue price of HKD 0.73 per share on October 9, 2024[63]. - As of September 30, 2024, the total issued shares were 1,000,000,000, with major shareholders holding 75% of the equity[69]. - The major shareholders include Rongli Green Development Limited, which holds 750,000,000 shares, representing 75% of the total equity[71]. - The company’s directors and key executives collectively hold 750,000,000 shares, equating to 75% of the total equity[66]. - The company declared an interim dividend of approximately HKD 30 million, with HKD 23.637 million settled in cash and HKD 6.363 million offset against amounts receivable from directors[59]. Risk Management and Compliance - The financial risk factors include market risk (foreign exchange and interest rate risks), credit risk, and liquidity risk[134]. - The company has not experienced any changes in risk management policies since the year-end[135]. - The company is subject to continuous disclosure obligations under the listing rules, with no additional disclosures required as of the mid-term report date[65]. - The interim financial data does not include all disclosures required in annual financial statements, and should be read in conjunction with the prospectus[134]. Employee and Operational Updates - The group employed 381 staff as of September 30, 2024, an increase from 344 staff as of March 31, 2024[56]. - Employee benefit expenses, including director remuneration, increased to HKD 79,602,000 for the six months ended September 30, 2024, from HKD 55,373,000 in 2023, an increase of about 44%[155]. - The company’s retained earnings as of September 30, 2024, were reported at HKD 10,084,000, an increase from HKD 6,843,000 as of March 31, 2024, reflecting a growth of 47.5%[189]. Miscellaneous - The company has not granted any share options or share awards under the share incentive plan during the reporting period[79]. - The company’s financial position remains stable, with no significant changes in liabilities reported during the period[87]. - The company has no other significant matters to disclose as of the mid-term report date[64].