Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 725.7 million, a decrease of 26.0% from HKD 978.4 million in the same period of 2018[10]. - The profit attributable to owners of the company for the six months was HKD 52.3 million, down 13.9% from HKD 60.7 million in the previous year[3]. - The adjusted profit before tax for the group was HKD 50.7 million, down from HKD 60.5 million in the previous year, indicating a decrease of about 16.1%[53]. - The group reported a total loss of HKD 16.7 million across its operating segments, with the semiconductor distribution segment showing a loss of HKD 0.5 million[50]. - The company reported a profit of HKD 50.6 million for the period, compared to HKD 60.3 million in the previous year, representing a decrease of 11.5%[105]. Revenue Breakdown - Total revenue for the six months ended September 30, 2019, was HKD 726.8 million, a decrease from HKD 978.4 million in the same period last year, representing a decline of approximately 25.6%[50]. - Semiconductor distribution segment generated revenue of HKD 677.2 million, accounting for 93.2% of total revenue, while the consumer electronics segment contributed HKD 46.8 million[50]. - Semiconductor distribution revenue for the six months ended September 30, 2019, was HKD 677,230, a decrease of 27% compared to HKD 926,621 for the same period in 2018[59]. - The consumer electronics and brand omnichannel business generated revenue of HKD 46.8 million, slightly down from HKD 47.4 million in 2018[114]. - The internet social media business reported revenue of HKD 1.7 million, a decline from HKD 4.4 million in 2018[118]. Assets and Liabilities - Total assets as of September 30, 2019, increased to HKD 1,338.0 million from HKD 1,317.0 million as of March 31, 2019[7]. - The total liabilities as of September 30, 2019, were HKD 192,394, a slight decrease from HKD 201,425 as of March 31, 2019[59]. - The total equity increased to HKD 1,145.6 million from HKD 1,115.6 million, reflecting a growth of 2.7%[7]. - The debt-to-equity ratio improved to 6% from 7% in the previous period[7]. - Non-current liabilities decreased to HKD 16,145 from HKD 16,877, a reduction of about 4.3%[20]. Cash Flow and Investments - The company reported a net cash flow from operating activities of HKD 16,039, a significant improvement from a net outflow of HKD 142,167 in the previous period[27]. - The company received dividends from a joint venture amounting to HKD 34,965, consistent with the previous period[27]. - The investment in joint ventures as of September 30, 2019, was HKD 768,817, reflecting the company's strategic focus on partnerships[59]. - The company incurred a loss of HKD 21,196 from the purchase of financial assets measured at fair value through profit or loss, compared to a loss of HKD 136,078 in the prior period[27]. - The total value of financial assets measured at fair value through profit or loss decreased from HKD 140,758,000 as of March 31, 2019, to HKD 123,278,000 as of September 30, 2019, indicating a decline of approximately 12.5%[76]. Shareholder Information - The company declared a final dividend of HKD 0.02 per share for the year ended March 31, 2019, totaling HKD 18,173,000, consistent with the previous year[72]. - The board did not recommend any interim dividend for the six months ended September 30, 2019, consistent with the previous year[136]. - As of September 30, 2019, Dr. Su Yu-Jun holds 317,599,826 shares, representing approximately 40.68% of the issued shares[139]. - Dr. Lu Ming-Hua holds 2,620,000 shares, representing approximately 0.29% of the issued shares[140]. - B.K.S. Company Limited holds 220,831,960 shares, representing approximately 24.30% of the issued shares[147]. Corporate Governance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by Dr. Su Yu-Jun[151]. - The company has adopted the standard code for securities transactions and confirmed compliance by all directors during the reporting period[152]. - The board consists of three executive directors and three independent non-executive directors as of the report date[154]. - The company reviewed its accounting principles and financial reporting procedures with the audit committee[155]. - The financial statements for the six months ending September 30, 2019, were discussed and reviewed[155]. Market Environment - The company’s operating environment remains challenging due to geopolitical risks and global economic slowdown, impacting trade and manufacturing activities[107]. - The global smartphone market is expected to decline by 2.2% in 2019, with a further contraction of 0.4% in the second half of the year[109]. - The expectation is that 5G smartphones will account for 8.9% of total shipments in 2020, rising to 28.1% by 2023, bringing new hope to the smartphone market[113]. - E-commerce in Southeast Asia has seen a compound annual growth rate of over 62% in the past three years, with total gross merchandise value projected to exceed USD 100 billion by 2025[114]. - The group plans to invest more resources in markets outside of China, including Singapore and India, to expand its market share in the semiconductor distribution business[125].

Financial Performance - Revenue for semiconductor distribution reached HK$1,602.4 million, a slight increase from HK$1,592.1 million in 2018[8] - Profit before interest, tax, depreciation, and amortisation for semiconductor distribution was HK$154.5 million, down from HK$161.5 million in 2018[6] - Total revenue for the year was HK$1,674.9 million, a decrease of 3.4% from HK$1,734.4 million in 2018[45] - Profit attributable to owners of the company was HK$57.3 million, down from HK$163.3 million in 2018[9] - Gross profit for the year was approximately HK$25.3 million, a decline of 35.8% compared to HK$39.4 million in 2018[31] - The Group's profit before interest and tax was HK$62.1 million, down from HK$167.8 million in 2018[41] - The Group's profit for the year attributable to owners was HK$57.3 million, a significant decrease from HK$163.3 million in 2018[41] - The venture capital business reported a loss of HK$23.9 million, compared to a profit of HK$72.3 million in 2018[45] - The profit for the year attributable to owners of the Company was HK$57.278 million, a decrease from HK$163.267 million in the prior year[163] - The profit before tax for the year was HK$55.607 million, down from HK$163.690 million in the previous year[163] Assets and Equity - Total assets decreased to HK$1,317.0 million from HK$1,405.8 million in 2018[12] - Total equity increased to HK$1,115.6 million from HK$1,086.7 million in 2018[12] - The total debt to total equity ratio improved to 7% from 13% in 2018[14] - The Group's total equity was HK$1,115.6 million, an increase from HK$1,086.7 million in 2018[89] - The total debt position and gearing ratio as of March 31, 2019, were reported, indicating the Group's financial leverage status[87] - The net current assets were HK$212.8 million as of March 31, 2019, compared to HK$285.2 million in 2018[93] Cash Flow and Liquidity - Cash and cash equivalents decreased to HK$106.0 million from HK$233.9 million in 2018[12] - The Group's cash and cash equivalents decreased to HK$106.0 million from HK$233.9 million year-over-year[90] - The liquidity ratio improved to 215% as of March 31, 2019, up from 195% in 2018[92] - The total balances of cash and cash equivalents and equity investments at fair value through profit or loss were HK$223.6 million as of March 31, 2019, down from HK$333.2 million in 2018[89] Business Strategy and Market Focus - The Group aims to consolidate its market share in the semiconductor industry, particularly in the Chinese market, while continuing to invest in the Singapore market for stable medium to long-term growth[34] - AV Concept plans to expand its e-commerce operations, targeting a Gross Merchandise Volume in Southeast Asia's electronics market projected to reach US$100 billion by 2025, up from US$23 billion in 2018[34] - The Group intends to introduce more high-end brand partners and expand product categories in Singapore and Indonesia to align with consumer trends[34] - The Group's strategic focus includes enhancing its omni-channel business for consumer electronics products to capture greater market share[34] - The Group aims to become a leading e-commerce business partner in Southeast Asia by providing comprehensive omnichannel brand management solutions[58] Industry Challenges - The semiconductor industry is facing challenges such as slowed growth and increased price competition, impacting overall performance[31] - The Group faces industry risks due to rapid technological changes and intense competition, which may adversely affect business performance[124] - Economic risks are present, as a slowdown could reduce demand for electronic components, impacting sales and overall business results[124] - The global smartphone market is expected to see a decline in shipments, with an estimated 1.39 billion units delivered in 2019, a decrease of 0.7% from 2018, marking the third consecutive year of negative growth[77] Investments and Ventures - The Group is committed to technology development and providing solutions for e-commerce business partners in Southeast Asia[55] - The Group is actively investing in new internet media businesses to capture opportunities in the content marketing market, aiming to create a robust ecosystem around consumer life[79] - The Group plans to invest more resources in markets like Singapore and India to expand its market share in the semiconductor distribution business[81] - The Group has partnered with major e-commerce platforms such as PT Tokopedia and Shopee to enhance its omni-channel retail services, aiming to provide comprehensive solutions to brand owners[78] Corporate Governance and Management - The Company has a strong management team with extensive experience in sales, marketing, and finance, enhancing its operational capabilities[115][116] - The remuneration policy for Directors is approved by the Board and considers their skills and involvement in the Company's affairs[168] - The Company has confirmed the independence of its independent non-executive directors[171] - There were no material disputes with key stakeholders during the year, indicating effective communication and relationship management[140] Shareholder Information - Proposed final dividend per share remains at 2.0 HK cents, consistent with the previous year[7] - The Group's profit for the year ended March 31, 2019, is detailed in the consolidated financial statements, with a recommended final dividend of HK$0.02 per share, totaling approximately HK$18.2 million based on 908,663,302 shares issued[141][142] - The Company has adopted a share option scheme to attract and retain qualified employees, including directors, to enhance their contributions[173]