申港控股(08631) - 2024 - 中期财报

Financial Performance - The Group recorded a revenue of approximately HK$56.3 million for the six months ended 30 September 2023, representing an increase of approximately HK$20.1 million or 55.5% compared to the revenue of approximately HK$36.2 million for the same period in 2022[8]. - The Group recorded a profit attributable to the owners of the Company of approximately HK$1.3 million for the six months ended 30 September 2023, an increase of approximately HK$4.2 million compared to a loss of approximately HK$2.9 million for the same period in 2022[8]. - The Group's profit before tax for the six months ended 30 September 2023 was approximately HK$1.3 million, compared to a loss of approximately HK$2.9 million for the same period in 2022[11]. - For the six months ended September 30, 2023, the company reported a profit of HK$1,305,000, compared to a loss of HK$2,941,000 for the same period in 2022, marking a significant turnaround[15]. - The Group's total comprehensive income for the period was HK$1,305,000, reflecting improved operational performance[15]. - The net profit for the six months ended 30 September 2023 was approximately HK$1.3 million, an increase of approximately HK$4.2 million from a net loss of approximately HK$2.9 million for the same period in 2022[108]. - The Group recorded a gross profit increase of approximately HK$3.7 million, or 308.3$1.2 million for the six months ended 30 September 2022 to approximately HK$4.9 million for the six months ended 30 September 2023, with a gross profit margin increase from 3.2$55.7 million, representing about 99.0% of the Group's total revenue for the six months ended 30 September 2023[113]. - Revenue from diesel oil sales for the three months ended September 30, 2023, was HK$24,136,000, representing a 44.0$16,760,000 in the same period of 2022[32]. - The sales quantity of diesel oil increased by approximately 130.2% from 4.3 million litres for the six months ended 30 September 2022 to 9.9 million litres for the same period in 2023[114]. - The Group's revenue from diesel exhaust fluid sales decreased slightly to HK$254,000 for the three months ended September 30, 2023, compared to HK$335,000 in 2022, a decline of 24.2%[32]. Expenses and Costs - The Group's administrative expenses decreased to approximately HK$3.3 million for the six months ended 30 September 2023, down from HK$4.4 million for the same period in 2022[11]. - Staff costs for the six months ended September 30, 2023, totaled HK$2,255,000, down 36.4$3,554,000 in the previous year[43]. - Direct labour costs amounted to approximately HK$0.4 million for the six months ended 30 September 2023, compared to HK$0.9 million for the same period in 2022[126]. - The Group's cost of sales was approximately HK$51.4 million for the six months ended 30 September 2023, an increase of 46.4$35.1 million for the same period in 2022[121]. - The largest component of the cost of sales was diesel oil cost, which amounted to approximately HK$48.9 million, representing about 95.1$41.3 million, an increase from HK$39.96 million as of 31 March 2023[12]. - The Group's total equity as of 30 September 2023 was approximately HK$41.3 million, up from HK$39.96 million as of 31 March 2023[13]. - The total trade receivables as of 30 September 2023 amounted to HK$51,933,000, an increase from HK$45,901,000 as of 31 March 2023[65]. - The Group's gearing ratio was approximately 30.3$1.6 million of capital commitments for the acquisition of property and equipment as of 30 September 2023[148][153]. Cash Flow and Financing - Cash used in operating activities for the six months ended September 30, 2023, was HK$485,000, an increase from HK$358,000 in the previous year[17]. - The company reported a net cash decrease of HK$1,040,000 in cash and cash equivalents for the six months ended September 30, 2023, compared to a decrease of HK$807,000 in the same period of 2022[17]. - The company incurred interest payments of HK$322,000 during the six months ended September 30, 2023, compared to HK$111,000 in the same period of 2022[17]. - Bank balances and cash decreased from HK$376,000 as of March 31, 2023, to HK$40,000 as of September 30, 2023, while bank overdrafts increased from HK$4,255,000 to HK$4,959,000[87]. - The Group had a banking facility of HK$14,000,000 as of September 30, 2023, up from HK$11,000,000 in 2022[95]. Dividends and Shareholder Information - The Board does not recommend the payment of any dividend for the six months ended 30 September 2023[8]. - The company did not recommend any dividend payment for the six months ended 30 September 2023, consistent with the previous year[50]. - As of September 30, 2023, Mr. Law Ming Yik holds 251,110,000 shares, representing 62.78% of the issued share capital of the Company[181]. - The Company is owned 62.78% by Fully Fort Group Limited, which is wholly owned by Mr. Law, the chairman of the Board[184]. Compliance and Governance - The Audit Committee reviewed the unaudited Condensed Consolidated Financial Statements and confirmed compliance with applicable accounting standards and GEM Listing Rules[199]. - The Company has established the Audit Committee in compliance with GEM Listing Rules, comprising three independent non-executive Directors[198]. - There are no competing interests reported among the controlling shareholders or Directors during the Reporting Period[197]. - The Group continues to monitor its business operations to ensure compliance with environmental laws and regulations in Hong Kong[173]. Operational Focus and Future Plans - The Group continues to focus on investment holding and sales of diesel oil and related products in Hong Kong, with no new product launches or market expansions reported in this period[19]. - The Group will continue to monitor diesel market demand and adjust business plans to ensure operational stability amid challenges such as slow recovery from COVID-19 and geopolitical tensions[111]. - The Group plans to utilize approximately HK$5.0 million of the Net Proceeds for upgrading its information technology systems, with completion expected by March 31, 2024[170].