Lisi : Interim Report 2023/2024

LISI GROUP (HOLDINGS) LIMITED 利 時 集 團 ( 控 股 ) 有 限 公 司

(Incorporated in Bermuda with limited liability) Stock Code 股份代號 : 526

(

於

百慕

達註

冊

成立

之有

限

公司

)

Interim Report

中 期 報 告

2023/2024

LISI GROUP (HOLDINGS) LIMITED
	01
Interim Report 2O23/2O24
CONTENTS
CORPORATE INFORMATION � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �	02
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS � � � � � � � � � � �	03
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME � � � � � � � � � � � � � � � � � � � � � � � � � � � � �	05
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION � � � � � � �	06
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY � � � � � � � �	08
CONDENSED CONSOLIDATED CASH FLOW STATEMENT � � � � � � � � � � � � � � � � � �	10
NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT � � � � � � � � � � � � � � � �	12
MANAGEMENT DISCUSSION AND ANALYSIS � � � � � � � � � � � � � � � � � � � � � � � � � � �	36
OTHER INFORMATION � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �	43

02	LISI GROUP (HOLDINGS) LIMITED
Interim Report 2O23/2O24
	CORPORATE INFORMATION

BOARD OF DIRECTORS

Executive Directors

Mr LI Lixin (Chairman)

Mr CHENG Jianhe

Ms JIN Yaxue

Independent Non-Executive Directors

Mr SHIN Yick Fabian

Mr HE Chengying

Mr KWONG Kwan Tong

AUDIT COMMITTEE

Mr SHIN Yick Fabian (Chairman)

Mr HE Chengying

Mr KWONG Kwan Tong

REMUNERATION COMMITTEE

Mr KWONG Kwan Tong (Chairman)

Ms JIN Yaxue

Mr SHIN Yick Fabian

NOMINATION COMMITTEE

Mr HE Chengying (Chairman)

Mr SHIN Yick Fabian

Mr KWONG Kwan Tong

JOINT COMPANY SECRETARIES

Ms PANG Yuen Shan Christina

Mr PUN Kam Wai Peter (Appointed as a joint   company secretary on 29 November 2023)

COMPLIANCE ADVISER

VBG Capital Limited

• (Appointed on 1 August 2023)

REGISTERED OFFICE

Clarendon House

2 Church Street

Hamilton

HM11, Bermuda

HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS

Office 6, 2/F.

International Enterprise Centre 3 No. 18 Tai Chung Road, Tsuen Wan New Territories, Hong Kong

AUDITOR

KPMG

Public Interest Entity Auditor

• registered in accordance with the
• Accounting and Financial Reporting
• Council Ordinance

PRINCIPAL BANKERS

Agricultural Bank of China, Yinzhou Branch, the People's Republic of China (the "PRC")

Bank of Communications,

• Hong Kong and Ningbo Branches, PRC Bank of Hangzhou, Ningbo Branch, PRC Bank of Ningbo, PRC
  The Hongkong and Shanghai Banking
• Corporation Limited

PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE

MUFG Fund Services (Bermuda) Limited 4th Floor North, Cedar House

41 Cedar Avenue

Hamilton HM12 Bermuda

HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE Tricor Secretaries Limited

17/F., Far East Finance Centre

16 Harcourt Road

Hong Kong

STOCK CODE

Hong Kong Stock Code: 526

COMPANY'S WEBSITE

http://www.lisigroup.com.hk

LISI GROUP (HOLDINGS) LIMITED	03
Interim Report 2O23/2O24

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

For the six months ended 30 September 2023 - unaudited (Expressed in Renminbi ("RMB"))

		Six months ended
		30 September
		2023	2022
	Note	RMB'000	RMB'000
		(Unaudited)	(Unaudited)
Continuing Operations
Revenue	4	1,334,269	1,277,444
Cost of sales		(961,055)	(933,359)
Gross profit	4(b)	373,214	344,085
Other income	5	142,918	8,233
Selling and distribution expenses		(49,066)	(49,204)
Administrative expenses		(59,264)	(63,864)
Profit from operations		407,802	239,250
Finance costs	6(a)	(19,364)	(26,770)
Net valuation loss on investment properties		(19,559)	(3,918)
Impairment losses on financial assets and
contract assets	6(c)	(5,914)	(2,601)
Profit before taxation	6	362,965	205,961
Income tax	7	(69,774)	(37,195)
Profit for the period from Continuing
Operations		293,191	168,766
Discontinued Operations
Profit for the period from Discontinued
Operations	9	-	2,067,715
Profit for the period attributable to equity
shareholders of the Company		293,191	2,236,481

The notes on pages 12 to 35 form part of this interim financial report.

04	LISI GROUP (HOLDINGS) LIMITED
Interim Report 2O23/2O24
				Six months ended
				30 September
				2023	2022
		Note	RMB'000	RMB'000
				(Unaudited)	(Unaudited)
	Earnings per share - Basic and diluted
	(RMB cent)	8
	From Continuing Operations			3.6	2.1
	Form Discontinued Operations			-	25.7
	From Continuing Operations and
	Discontinued Operations			3.6	27.8

The notes on pages 12 to 35 form part of this interim financial report.

LISI GROUP (HOLDINGS) LIMITED	05
Interim Report 2O23/2O24

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 September 2023 - unaudited (Expressed in RMB)

Six months ended

30 September

Profit for the period

Other comprehensive income for the period (after tax and reclassification adjustments):

Item that may be reclassified subsequently to profit or loss:

• Exchange differences on translation into   presentation currency

Other comprehensive income for the period

Total comprehensive income for the period attributable to equity shareholders of the Company

20232022

RMB'000 RMB'000

(Unaudited) (Unaudited)

293,191 2,236,481

(6,910) (14,155)

(6,910) (14,155)

286,281 2,222,326

The notes on pages 12 to 35 form part of this interim financial report.

06	LISI GROUP (HOLDINGS) LIMITED
Interim Report 2O23/2O24

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 30 September 2023 - unaudited (Expressed in RMB)

		30 September	31 March
		2023	2023
	Note	RMB'000	RMB'000
		(Unaudited)	(Audited)
Non-current assets
Property, plant and equipment	10	373,697	434,848
Investment properties		542,592	562,151
Financial assets at fair value through
profit or loss ("FVPL")		796,896	803,773
Deferred tax assets		17,098	19,348
		1,730,283	1,820,120
Current assets
Inventories		309,515	346,003
Trade and other receivables and
contract assets	11	1,233,266	922,668
Prepayments	11	171,920	81,013
Restricted cash	12	273,079	247,465
Cash and cash equivalents	13	370,145	453,497
		2,357,925	2,050,646
Current liabilities
Trade and other payables	14	637,786	712,338
Bank and other loans	15	715,226	758,054
Lease liabilities		12,647	16,541
Income tax payable		85,757	20,294
		1,451,416	1,507,227
Net current assets		906,509	543,419
Total assets less current liabilities		2,636,792	2,363,539

	LISI GROUP (HOLDINGS) LIMITED	07
	Interim Report 2O23/2O24
		30 September	31 March
		2023	2023
	Note	RMB'000	RMB'000
		(Unaudited)	(Audited)
Non-current liabilities
Bank and other loans	15	89,990	90,000
Lease liabilities		18,939	22,592
Deferred tax liabilities		166,600	175,965
		275,529	288,557
NET ASSETS		2,361,263	2,074,982
CAPITAL AND RESERVES
Share capital	16(b)	69,888	69,888
Reserves		2,291,375	2,005,094
TOTAL EQUITY		2,361,263	2,074,982

The notes on pages 12 to 35 form part of this interim financial report.

08	LISI GROUP (HOLDINGS) LIMITED
Interim Report 2O23/2O24

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the six months ended 30 September 2023 - unaudited (Expressed in RMB)

			Capital
	Share	Share	redemption	Statutory	Contributed	Exchange	Other	Accumulated	Total
	capital	premium	reserve	reserve	surplus	reserve	reserve	(loss)/profit	equity
	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000
Balance at 1 April 2022	69,888	2,690,990	1,341	75,070	202,449	5,253	30,340	(3,330,126)	(254,795)
Changes in equity for the six months
ended 30 September 2022:
Profit for the period	-	-	-	-	-	-	-	2,236,481	2,236,481
Other comprehensive income	-	-	-	-	-	(14,155)	-	-	(14,155)
Total comprehensive income
for the period	-	-	-	-	-	(14,155)	-	2,236,481	2,222,326
Appropriation to reserves	-	-	-	-	-	-	-	-	-
Balance at 30 September 2022
69,888	2,690,990	1,341	75,070	202,449	(8,902)	30,340	(1,093,645)	1,967,531

The notes on pages 12 to 35 form part of this interim financial report.

		LISI GROUP (HOLDINGS) LIMITED			09
		Interim Report 2O23/2O24
			Capital
	Share	Share	redemption	Statutory	Contributed	Exchange	Other	Accumulated	Total
	capital	premium	reserve	reserve	surplus	reserve	reserve	(loss)/profit	equity
	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000
Balance at 1 October 2022	69,888	2,690,990	1,341	75,070	202,449	(8,902)	30,340	(1,093,645)	1,967,531
Changes in equity for the six months
ended 31 March 2023:
Profit for the period	-	-	-	-	-	-	-	100,998	100,998
Other comprehensive income	-	-	-	-	-	6,453	-	-	6,453
Total comprehensive income
for the period	-	-	-	-	-	6,453	-	100,998	107,451
Appropriation to reserves	-	-	-	136	-	-	-	(136)	-
Disposal of the Discontinued operations	-	-	-	(25,438)	-	-	-	25,438	-
Balance at 31 March 2023
69,888	2,690,990	1,341	49,768	202,449	(2,449)	30,340	(967,345)	2,074,982
			Capital
	Share	Share	redemption	Statutory	Contributed	Exchange	Other	Accumulated	Total
	capital	premium	reserve	reserve	surplus	reserve	reserve	(loss)/profit	equity
	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000	RMB'000
Balance at 1 April 2023	69,888	2,690,990	1,341	49,768	202,449	(2,449)	30,340	(967,345)	2,074,982
Changes in equity for the six months
ended 30 September 2023:
Profit for the period	-	-	-	-	-	-	-	293,191	293,191
Other comprehensive income	-	-	-	-	-	(6,910)	-	-	(6,910)
Total comprehensive income
-	-	-	-	-	(6,910)	-	293,191	286,281
for the period
Appropriation to reserves	-	-	-	(3,384)	-	-	-	3,384	-
Balance at 30 September 2023	69,888	2,690,990	1,341	46,384	202,449	(9,359)	30,340	(670,770)	2,361,263

The notes on pages 12 to 35 form part of this interim financial report.