应力控股中期报告 2024/25

()Stock code2663(incorporated in the Cayman Islands with limited liability) CONTENTS Corporate InformationManagement Discussion and AnalysisUnaudited Condensed Consolidated Interim Financial InformationCondensed Consolidated Statement of Comprehensive IncomeCondensed Consolidated Statement of Financial PositionCondensed Consolidated Statement of Changes in EquityCondensed Consolidated Statement of Cash FlowsNotes to the Condensed Consolidated Financial Statements241314151617 CORPORATE INFORMATION公 司 資 料 BOARD OF DIRECTORS (THE “BOARD”) Executive Directors Mr. Yip Pak Hung(Chairman)Mr. Wai Yat Kin(Chief Executive Officer) Independent Non-Executive Directors Ms. Lai Pik Chi, PeggyMr. Lam Chi Wai, PeterDr. Yeung Kit Ming AUDIT COMMITTEE Ms. Lai Pik Chi, Peggy(Chairman)Mr. Lam Chi Wai, PeterDr. Yeung Kit Ming NOMINATION COMMITTEE Dr. Yeung Kit Ming(Chairman)Ms. Lai Pik Chi, PeggyMr. Lam Chi Wai, Peter REMUNERATION COMMITTEE Mr. Lam Chi Wai, Peter(Chairman)Ms. Lai Pik Chi, PeggyDr. Yeung Kit Ming COMPANY SECRETARY Mr. Chan Sun Kwong PRINCIPAL BANKERS The Hongkong and Shanghai BankingCorporation LimitedLevel 10, HSBC Main Building1 Queen’s Road CentralHong Kong 110 Citibank N.A.21/F., Tower 1The Gateway, Harbour CityKowloon, Hong Kong 121 REGISTERED OFFICE Windward 3, Regatta Office ParkP.O. Box 1350Grand Cayman, KY1-1108Cayman Islands Windward 3, Regatta Office ParkP.O. Box 1350Grand Cayman, KY1-1108Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 27/F, The Octagon6 Sha Tsui RoadTsuen Wan, New TerritoriesHong Kong 627 HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 愨1617 Tricor Investor Services Limited17/F Far East Finance Centre16 Harcourt RoadHong Kong AUTHORISED REPRESENTATIVES Mr. Yip Pak HungMr. Chan Sun Kwong AUDITOR 11125 BDO LimitedCertified Public Accountants25th Floor, Wing On Centre111 Connaught Road CentralHong Kong www.kpa-bm.com.hk COMPANY’S WEBSITE www.kpa-bm.com.hk STOCK CODE 2663 2663 MANAGEMENT DISCUSSION AND ANALYSIS管 理 層 討 論 及 分 析 BACKGROUND, RECENT DEVELOPMENT ANDOUTLOOK KPa-BM Holdings Limited (the “Company”) and its subsidiaries(collectively, the “Group”) are principally engaged in (i) provision ofstructural engineering works with a focus on design and buildprojects in Hong Kong; (ii) supply of building material productstogether with installation services of such products in Hong Kong;and (iii) trading of building material products predominately in HongKong. (i)(ii)(iii) Business operation of the Group remained relatively stable and keyprojects progressed smoothly for the six months ended 30 September2024 (the “Period”). In particular, the project for the tower facadefor redevelopment of a commercial building in Central achievedfavourable progress and recorded a revenue growth of over HK$86million for the Period, and became the largest revenue contributor tothe Group. However, the Group encountered uncertainties in thep r o c e s s o f n e g o t i a t i o n w i t h a c u s t o m e r f o r s e t t l e m e n t o fcompensation for variation works on a project near to completion,therefore, the management has revised the budget of the project andresulting in a lower profit margin of the Group for the Period. 86 The Group’s value of outstanding contracts on hand as at 30September 2024 amounted to approximately HK$619 million, ascompared to approximately HK$1,022 million as at 30 September2023 (the “Previous Period”). 6191,022 While Hong Kong’s economic environment becoming unstable andcautious, private market customers are more price-sensitive wheninvesting in new projects and the construction industry is facingfierce competition in the public market. The Group expects that theoutlook of the Group for the remaining part of the financial year andthe near term will be full of challenges. To this end, we willstrengthen cost control and maintain the quality of our works asalways to strive to stand out among our peers. FINANCIAL REVIEW Revenue The Group’s revenue amounted to approximately HK$387.5 millionfor the Period as compared to approximately HK$317.9 million forthe Previous Period, representing an increase of approximatelyHK$69.6 million or 21.9%, which was mainly attributable tofavourable progress of the tower facade project in Central. 387.5317.969.621.9% Cost of Revenue and Gross Profit The Group’s cost of revenue mainly comprised material andprocessing charges and subcontracting charges; the increase in costof revenue for the Period is mainly driven by revenue growth. TheGroup faced a decrease in gross profit margin to approximately14.8% for the Period as compared to approximately 16.6% for thePrevious Period, mainly as a result of uncertainties in negotiation ofcompensation for variation works. 14.8%16.6% Administrative and Other Operating Expenses Administrative and other operating expenses primarily consisted ofstaff costs, depreciation expenses on right-of-use assets, andprovision of loss allowance on