For the six months ended September 30, 2024, hang yick hldgs' revenue decreased from 85 million HKD to 78.8 million HKD, a year-on-year decrease of 7.3%. The gross margin fell from 13.9% to 0.5%, mainly due to rising material and labor costs and intense price competition. A loss of 10.6 million HKD was recorded during the period, compared to a profit of 6.6 million HKD in the same period last year. \nManagement pointed out that market challenges and the competitive environment are putting pressure on the group's operations, and it is expected that these difficulties will continue. Due to issues with clients and the liquidity of the construction industry, the group confirmed an expected credit loss of 1.9 million HKD on trade receivables. Other income and gains...Show More

For the six months ended September 30, 2024, hang yick hldgs' revenue decreased from 85 million HKD to 78.8 million HKD, a year-on-year decrease of 7.3%. The gross margin fell from 13.9% to 0.5%, mainly due to rising material and labor costs and intense price competition. A loss of 10.6 million HKD was recorded during the period, compared to a profit of 6.6 million HKD in the same period last year. \nManagement pointed out that market challenges and the competitive environment are putting pressure on the group's operations, and it is expected that these difficulties will continue. Due to issues with clients and the liquidity of the construction industry, the group confirmed an expected credit loss of 1.9 million HKD on trade receivables. Other income and gains decreased from 6.4 million HKD to 0.1 million HKD, mainly due to non-recurring income in the same period last year. \nLooking ahead, the board of directors will continue to address the challenges and has not declared an interim dividend. The group's total cash and cash equivalents amount to 43.5 million HKD, with a debt-to-asset ratio of approximately 0.15%. Management emphasized that it will continue to monitor forex risks and consider hedging measures when necessary.