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信越控股(06038) - 2021 - 中期财报
G & M HLDGSG & M HLDGS(HK:06038)2021-09-23 08:32

Financial Performance - The group's revenue increased by approximately HKD 22.9 million or 16.9% to about HKD 158.4 million for the period, compared to approximately HKD 135.5 million in the previous period[15] - Gross profit rose by approximately HKD 5.4 million or 15.1% to about HKD 41.2 million, with a gross margin of approximately 26.0%, slightly down from 26.4% in the previous period[16] - The group's net profit for the period was approximately HKD 19.9 million, an increase of about HKD 3.4 million or 20.6% compared to approximately HKD 16.5 million in the previous period[18] - Revenue for the six months ended June 30, 2021, was HKD 158,434 thousand, an increase of 17.0% compared to HKD 135,524 thousand in 2020[52] - Gross profit for the same period was HKD 41,169 thousand, representing a gross margin of 25.9%[52] - Profit before tax increased to HKD 23,440 thousand, up 19.2% from HKD 19,560 thousand in the previous year[52] - Net profit for the period was HKD 19,859 thousand, a rise of 20.5% compared to HKD 16,498 thousand in 2020[52] - Basic and diluted earnings per share were both HKD 2.0, compared to HKD 1.6 in the previous year, reflecting a 25.0% increase[52] Contractual and Project Updates - The total value of uncompleted contracts reached approximately HKD 791.4 million, up from HKD 497.0 million in the previous period[9] - The group has been awarded a new facade contract worth approximately HKD 55.6 million and is bidding for five large projects with an estimated total contract value exceeding HKD 422.5 million[13] Expenses and Liabilities - Administrative and other operating expenses decreased by approximately HKD 0.7 million or 3.8% to about HKD 17.5 million, mainly due to reduced legal and professional expenses[17] - The group's bank borrowings increased to approximately HKD 2.6 million from about HKD 1.1 million, representing an increase of approximately HKD 1.5 million[22] - The asset-to-liability ratio as of June 30, 2021, was approximately 1.1%, up from 0.5% at the end of 2020, primarily due to increased bank borrowings[23] - Current liabilities decreased to HKD 89,952 thousand from HKD 100,938 thousand, indicating improved liquidity[54] - The total trade and other payables increased to HKD 46,297,000 as of June 30, 2021, from HKD 38,801,000 as of December 31, 2020, indicating a rise in operational liabilities[108] Cash Flow and Financial Position - The cash and cash equivalents balance as of June 30, 2021, was approximately HKD 137.4 million, a decrease of about HKD 11.8 million from approximately HKD 149.2 million at the end of 2020[23] - The company reported a net cash outflow from operating activities of HKD (7,485) thousand, an improvement from HKD (14,146) thousand in the prior year[59] - Cash and cash equivalents at the end of the period were HKD 137,351 thousand, compared to HKD 120,792 thousand in the previous year, showing a positive cash flow trend[59] Employee and Management Information - The group had 110 employees as of June 30, 2021, compared to 103 employees as of June 30, 2020, with total employee benefits expenses amounting to approximately HKD 30.7 million, up from HKD 26.7 million in the previous period, primarily due to business expansion[24] - Compensation for key management personnel for the six months ended June 30, 2021, was HKD 6,557,000, an increase from HKD 5,525,000 in the same period of 2020[118] Shareholder and Governance Information - The board proposed an interim dividend of HKD 0.55 per share, totaling HKD 5.5 million, with a dividend payout ratio of approximately 27.7%[48] - The company complied with the corporate governance code during the period, except for the provision regarding the separation of the roles of chairman and CEO[45] - The board of directors and key executives held significant interests in the company, with Mr. Li and Mr. Leung each holding 750 million shares, representing 75% ownership[28] Accounting and Compliance - The company has adopted new or revised Hong Kong Financial Reporting Standards effective from January 1, 2021, but these did not have a significant impact on the financial performance[68] - The company is currently assessing the potential impact of newly issued accounting standards on its financial performance and position[72] Other Financial Metrics - The group recognized other income of HKD 170,000 for the period, compared to no other income reported in the same period of 2020[80] - The company’s maintenance and repair services generated revenue of HKD 146,456,000, an increase from HKD 129,108,000 in the previous year, representing a growth of 13.5%[79] - The group reported a profit attributable to owners of the company of HKD 19,859,000 for the six months ended June 30, 2021, compared to HKD 16,498,000 for the same period in 2020, representing a growth of approximately 20.5%[92]