股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: MOS House Group Limited 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01653 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.1 HKD | | 50,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 500,000,000 | HKD | | 0.1 HKD | | 50,000,000 | 本月底法定/註冊股本總額： HKD 50,000,000 FF301 | ...

The Current Corporate Communication of the Company, in both English and Chinese versions, are available on the Company's website (www.moshouse.com.hk) and The Stock Exchange of Hong Kong Limited's website (www.hkexnews.hk). Please note that the Company adopted the arrangements on electronic dissemination of Corporate Communications on 28 June 2024. In support of electronic communication by email, if you have not yet provided a functional email address to the Company, the Company recommends you to take immed ...

(於開曼群島註冊成立的有限公司) 股份代號: 1653 年 報 MOS HOUSE GROUP LIMITED ANNUAL REPORT 2025 年報 ANNUAL REPORT Stock Code: 1653 (Incorporated in the Cayman Islands with limited liability) 目 錄 | | | | | | | | | | 2 | | | | 公司資料 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 主 | 席 | 報 | | | | | | | 3 | | | | | 告 | | | | | 管 | 理 | | 論 | 及 | 析 | | | | 5 | | | | | 層 討 | | | 分 | | 董 | 事 | | 級 | 管 | 層 | 的 | 履 | 歷 | 0 | 詳 | 情 | 1 | | 及 高 | | | 理 | | 企 | 業 | | ...

[Financial Statements](index=2&type=section&id=Financial%20Statements) This section presents the Group's consolidated financial performance and position, including statements of profit or loss and financial position [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group turned from profit to loss for the year ended March 31, 2025, with total revenue decreasing by 10.8% to HK$109 million Consolidated Statement of Profit or Loss Summary (HK$'000) | Indicator | 2025 | 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Revenue | 109,393 | 122,577 | -10.8% | | Cost of inventories sold | (54,408) | (42,429) | +28.2% | | Profit (Loss) before tax | (2,856) | 2,650 | Turned from profit to loss | | **Profit (Loss) for the year** | **(3,400)** | **2,163** | **Turned from profit to loss** | | **Profit (Loss) attributable to owners of the Company** | **(3,400)** | **2,163** | **Turned from profit to loss** | | Basic Earnings (Loss) per Share (HK Cents) | (1.20) | 0.87 | Turned from profit to loss | | Diluted Earnings (Loss) per Share (HK Cents) | (1.19) | 0.87 | Turned from profit to loss | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, the Group's total assets remained stable at HK$314 million, with net current assets significantly increasing Consolidated Statement of Financial Position Summary (HK$'000) | Indicator | March 31, 2025 | March 31, 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | **Total Assets** | **314,104** | **316,992** | **-0.9%** | | Non-current assets | 92,771 | 92,979 | -0.2% | | Current assets | 221,333 | 224,013 | -1.2% | | **Total Liabilities** | **174,084** | **173,572** | **+0.3%** | | Current liabilities | 136,962 | 171,958 | -20.3% | | Non-current liabilities | 37,122 | 1,614 | +2200% | | **Net Assets (Total Equity)** | **140,020** | **143,420** | **-2.4%** | [Notes to the Consolidated Financial Statements](index=5&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) Detailed disclosures on revenue, segment performance, and earnings per share, providing context to the financial statements [Note 4. Revenue](index=7&type=section&id=Note%204.%20Revenue) Total revenue for the year decreased by 10.8% to HK$109 million, with retail channel revenue declining significantly while non-retail revenue grew Revenue by Product Category and Sales Channel (HK$'000) | Category | 2025 | 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | **By Product Category** | | | | | Tiles | 86,653 | 109,666 | -21.0% | | Sanitary ware and others | 22,260 | 12,431 | +79.1% | | Investment property rental income | 480 | 480 | 0.0% | | **Total Revenue** | **109,393** | **122,577** | **-10.8%** | | **By Sales Channel** | | | | | Retail | 36,899 | 58,875 | -37.3% | | Non-retail | 72,014 | 63,222 | +13.9% | [Note 6. Segment Information](index=8&type=section&id=Note%206.%20Segment%20Information) The Group's segments include trading and property investment, with trading profit increasing despite revenue decline, while property investment incurred a fair value loss Segment Results (HK$'000) | Business Segment | 2025 | 2024 | | :--- | :--- | :--- | | **Segment Revenue** | | | | Trading of tiles and sanitary ware products | 108,913 | 122,097 | | Property investment | 480 | 480 | | **Segment Result** | | | | Trading of tiles and sanitary ware products | 13,943 | 12,418 | | Property investment | (7,954) | 653 | Revenue by Geographical Region (HK$'000) | Region | 2025 | 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Hong Kong | 90,994 | 101,077 | -10.0% | | Macau | 18,399 | 21,500 | -14.4% | - This year, three major customers (Customers A, B, C) each contributed over 10% of the Group's total revenue, collectively contributing approximately **HK$56.52 million**, accounting for about **51.7%** of total revenue[24](index=24&type=chunk) [Note 11. Earnings (loss) per share](index=13&type=section&id=Note%2011.%20Earnings%20(loss)%20per%20share) Basic loss per share was 1.20 HK cents, a reversal from prior year's earnings, primarily due to the shift to a net loss attributable to owners Earnings (Loss) per Share Calculation Data | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Profit (Loss) for the year attributable to owners of the Company (HK$'000) | (3,400) | 2,163 | | Weighted average number of ordinary shares in issue (Basic) | 284,117,000 | 247,232,295 | | Weighted average number of ordinary shares in issue (Diluted) | 284,678,641 | 248,022,670 | [Management Discussion and Analysis](index=15&type=section&id=Management%20Discussion%20and%20Analysis) Management's review of business performance, financial results, liquidity, and future outlook amidst challenging market conditions [Business Review](index=15&type=section&id=Business%20Review) Amidst a challenging Hong Kong economy, the Group's revenue declined 10.8% to HK$109 million, shifting to a net loss, while non-retail business grew and product diversification began - Affected by the sluggish Hong Kong economy and subdued market sentiment, the Group's business faced downward pressure, with annual revenue decreasing by **10.8%**[39](index=39&type=chunk) - Excluding non-operating factors like fair value changes in investment properties, the Group's adjusted profit was approximately **HK$1.4 million**, a **57.3%** year-on-year decrease, primarily due to reduced revenue[40](index=40&type=chunk) - To counter declining retail sales, the Group focused on expanding non-retail channels, with sales in this channel increasing by **13.9%** year-on-year to **HK$72 million**[41](index=41&type=chunk) - The Group began diversifying its product portfolio, generating approximately **HK$3.3 million** in revenue from solar panel sales[42](index=42&type=chunk) [Financial Review](index=16&type=section&id=Financial%20Review) Gross profit significantly decreased by 31.6% to HK$54.5 million, impacting overall product margin, leading to a net loss despite effective cost controls Gross Profit and Product Profit Margin | Indicator | 2025 | 2024 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Gross Profit (HK$M) | 54.5 | 79.7 | -31.6% | | Product Profit Margin | 50.0% | 65.3% | -15.3pp | - Staff costs decreased from **HK$17.4 million** to **HK$14.6 million**, primarily due to a reduction in headcount[48](index=48&type=chunk) - Other expenses significantly decreased from **HK$14.8 million** to **HK$8.3 million**, mainly due to lower costs for product delivery, legal professional fees, and utilities[51](index=51&type=chunk) - The Group turned from profit to loss this year, recording a loss attributable to owners of **HK$3.4 million**, primarily due to: (i) a decrease in sales gross profit of approximately **HK$25.2 million** due to reduced revenue; and (ii) a fair value loss of **HK$8.3 million** on investment properties[52](index=52&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=19&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) As of March 31, 2025, the Group maintained a sound financial position with reduced bank borrowings and an improved gearing ratio, while facing unhedged Euro-denominated foreign exchange risk Debt and Capital Structure | Indicator | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Bank and Cash Balances (HK$M) | 16.4 | 16.5 | | Bank Borrowings (HK$M) | 67.0 | 92.1 | | Gearing Ratio | 0.48 times | 0.64 times | - The Group faces foreign exchange risk between Euro-denominated procurement costs and HKD-denominated revenue, with no current foreign currency hedging policy[56](index=56&type=chunk)[57](index=57&type=chunk) [Outlook](index=21&type=section&id=Outlook) Management anticipates continued challenging market conditions, planning to diversify into green energy products and establish a new gold trading business to enhance revenue and profitability - The retail market is expected to remain highly competitive, with conservative local consumption and a persistent downturn in the Hong Kong property market posing ongoing challenges[65](index=65&type=chunk) - The Group will continue to diversify its product portfolio, exploring more green energy products that complement its core business[65](index=65&type=chunk) - The Group plans to establish a new business line focused on trading gold products and has applied for a precious metals trading license, aiming to diversify its business and strengthen revenue streams[66](index=66&type=chunk) [Corporate Governance and Other Information](index=22&type=section&id=Corporate%20Governance%20and%20Other%20Information) Details on corporate governance practices, dividend policy, and the share option scheme, highlighting key compliance aspects [Dividends](index=21&type=section&id=Dividends) The Board does not recommend any final dividend for the year ended March 31, 2025, consistent with the prior year - The Board does not recommend the payment of a final dividend for the year ended March 31, 2025 (2024: nil)[30](index=30&type=chunk)[64](index=64&type=chunk) [Corporate Governance](index=22&type=section&id=Corporate%20Governance) The Company largely complied with the Corporate Governance Code, with a deviation where the Chairman and CEO roles are not separated - The Company deviated from Corporate Governance Code provision C.2.1, where the roles of Chairman (Mr. Cao Sihao) and Chief Executive Officer are not separated, both held by the same individual[71](index=71&type=chunk) [Share Option Scheme](index=23&type=section&id=Share%20Option%20Scheme) The Company's share option scheme had 4.8 million unexercised options as of March 31, 2025, representing 1.69% of issued capital, with no grants or exercises during the year - As of March 31, 2025, **4,800,000** share options remained unexercised under the share option scheme, representing **1.69%** of the issued share capital[74](index=74&type=chunk) - No share options were granted or exercised for the year ended March 31, 2025[63](index=63&type=chunk)[74](index=74&type=chunk)

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 63,968,000, a decrease of 21.9% compared to HKD 81,953,000 for the same period in 2023[11] - The net profit for the period was HKD 4,995,000, down 38.5% from HKD 8,085,000 in the previous year[11] - Basic earnings per share for the period was HKD 1.76, compared to HKD 3.37 for the same period last year, reflecting a decline of 47.8%[11] - The company reported a pre-tax profit of HKD 5,892,000 for the six months ended September 30, 2024, down from HKD 9,911,000 in 2023[34] - The profit before tax for the six months ended September 30, 2024, was HKD 4,995,000, a decrease from HKD 8,085,000 in the previous year[47] - For the six months ended September 30, 2024, the profit attributable to the owners of the company was approximately HKD 5 million, a decrease of about 38% compared to approximately HKD 8.1 million for the same period ended September 30, 2023[78] - The gross profit decreased to approximately HKD 32.2 million, a decline of about 36.7% compared to HKD 50.9 million in the same period last year[89] - The product gross margin fell from approximately 62.1% to about 50.3%, primarily due to a decrease in the proportion of higher-margin retail sales[89] Revenue Breakdown - Revenue from tile sales was HKD 38,753,000, a decline of 49% compared to HKD 75,764,000 in the previous year[28] - Revenue from bathroom fixtures and others increased significantly to HKD 16,419,000 from HKD 5,949,000, representing a growth of 175%[28] - Revenue from solar panels was HKD 8,556,000, compared to no revenue in the same period last year[28] - Revenue from non-retail sales decreased by approximately 32.9% to about HKD 30.4 million, down from HKD 45.3 million for the six months ended September 30, 2023, primarily due to a decline in tile product sales[79] - Retail sales revenue from tiles and sanitary ware decreased by approximately 31.9% to about HKD 24.8 million, down from HKD 36.4 million year-on-year[84] - For the six months ended September 30, 2024, the total revenue of the company decreased by approximately 22% to HKD 64 million from HKD 82 million in the same period last year[83] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 242,299,000, an increase from HKD 224,013,000 as of March 31, 2024[14] - The total assets as of September 30, 2024, amounted to HKD 328,915,000, an increase from HKD 316,992,000 as of March 31, 2024[36] - The total liabilities as of September 30, 2024, were HKD 180,500,000, compared to HKD 173,572,000 as of March 31, 2024[36] - As of September 30, 2024, trade receivables amounted to HKD 41,006 thousand, a decrease from HKD 66,180 thousand as of March 31, 2024[60] - Total borrowings decreased to HKD 70,837 thousand as of September 30, 2024, down from HKD 92,083 thousand as of March 31, 2024[69] - The group’s debt-to-equity ratio was approximately 0.48 times as of September 30, 2024, compared to 0.64 times as of March 31, 2024[101] Cash Flow and Financing - Net cash generated from operating activities for the six months ended September 30, 2024, was HKD 25,475,000, a decrease of 16% from HKD 30,377,000 in 2023[18] - The net cash increase for the period was HKD 6,777,000, compared to HKD 2,117,000 in the previous year, indicating improved cash flow management[18] - The company’s cash and cash equivalents at the end of the period were HKD 15,418,000, slightly down from HKD 15,894,000 in 2023[18] - Cash and cash equivalents increased to HKD 15,418 thousand as of September 30, 2024, compared to HKD 8,641 thousand as of March 31, 2024[63] - The company reported a bank overdraft of HKD 2,520 thousand as of September 30, 2024, down from HKD 7,824 thousand as of March 31, 2024[63] - The company reported a financing cost of HKD 2,459,000, down from HKD 3,844,000, representing a reduction of 36.0%[11] - The interest expense from bank borrowings for the six months ended September 30, 2024, was HKD 1,491,000, a decrease from HKD 1,888,000 in the previous year[40] Corporate Governance and Shareholder Information - The company has confirmed compliance with the corporate governance code, except for the combined roles of Chairman and CEO, which are held by Mr. Cao Sihao[129] - The board does not recommend any dividend payment for the six months ended September 30, 2024, consistent with the previous year[115] - The company has adopted a share option scheme, granting options to purchase a total of 4,800,000 shares at an exercise price of HKD 0.3 per share, which represents 1.69% of the issued share capital as of September 30, 2024[132] - No share options were exercised during the six-month period ending September 30, 2024[132] - There are no known interests or conflicts of interest held by directors or controlling shareholders in any competing businesses as of September 30, 2024[126] - The company is committed to high standards of corporate governance to protect shareholder interests[129] Future Plans and Strategies - The company plans to focus on market expansion and new product development to drive future growth[12] - The company plans to continue expanding its product offerings and market presence, particularly in the solar panel segment, which showed promising growth[22] - The group plans to enhance operational efficiency and diversify revenue sources to improve financial performance amid a challenging macroeconomic environment[116] - The group aims to expand its business in the renewable energy sector to diversify and increase revenue streams[116] - The group will focus on increasing non-retail sales revenue through strengthened partnerships with existing distributors and project clients[116] Employee and Operational Costs - Employee costs for the six months ended September 30, 2024, were approximately HKD 7.5 million, down from HKD 8.7 million in the previous year[94] - The company maintained stable rental income from investment properties at approximately HKD 0.2 million, unchanged from the previous year[86]

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 63,968,000, a decrease of 21.9% compared to HKD 81,953,000 for the same period in 2023[5] - The net profit for the period was HKD 4,995,000, down 38.5% from HKD 8,085,000 in the same period last year[5] - Basic earnings per share decreased to HKD 1.76, compared to HKD 3.37 for the same period in 2023[5] - Revenue from customer contracts for the six months ended September 30, 2024, was HKD 63,728,000, a decrease of 22.1% compared to HKD 81,713,000 for the same period in 2023[14] - Total revenue for the six months ended September 30, 2024, was approximately HKD 64 million, a decrease of about 22% compared to HKD 82 million for the same period in 2023[55] - The company's profit attributable to owners for the six months ended September 30, 2024, was approximately HKD 5 million, a decrease of about 38.3% from HKD 8.1 million in 2023[65] Revenue Breakdown - Sales from retail channels for tiles and sanitary ware amounted to HKD 24,768,000, down 31.9% from HKD 36,406,000 in the previous year[14] - Non-retail sales for tiles and sanitary ware were HKD 30,404,000, a decrease of 32.8% from HKD 45,307,000 in the prior year[14] - Revenue from the sale of tiles and sanitary ware was approximately HKD 55.2 million, down from HKD 81.7 million in 2023, with retail sales contributing approximately HKD 24.8 million and non-retail sales approximately HKD 30.4 million[55] - The company’s total revenue from solar panels was HKD 8,556,000, with no revenue reported in the same period last year[14] - The company generated approximately HKD 8.6 million in revenue from the sale of solar panels through non-retail channels, representing about 13.4% of total revenue[56] Assets and Liabilities - Total assets less current liabilities amounted to HKD 152,761,000 as of September 30, 2024, compared to HKD 145,034,000 as of March 31, 2024[8] - Total assets as of September 30, 2024, amounted to HKD 328,915,000, an increase from HKD 316,992,000 as of March 31, 2024[23] - Total liabilities as of September 30, 2024, were HKD 180,500,000, compared to HKD 173,572,000 as of March 31, 2024[23] - The total value of trade receivables as of September 30, 2024, was HKD 44.116 million, down from HKD 69.290 million as of March 31, 2024[42] - The company's trade payables as of September 30, 2024, amounted to HKD 26.025 million, an increase from HKD 11.411 million as of March 31, 2024[46] Expenses - Employee benefits expenses, including director remuneration, were HKD 7,256,000 for the six months ended September 30, 2024, compared to HKD 8,381,000 in the previous year[30] - The company incurred other expenses totaling HKD 4,615,000 for the six months ended September 30, 2024, down from HKD 7,640,000 in the same period last year[31] - Depreciation for property, plant, and equipment was HKD 321,000 for the six months ended September 30, 2024, significantly lower than HKD 1,591,000 in the previous year[32] - The company reported a total tax expense of HKD 897,000 for the six months ended September 30, 2024, compared to HKD 1,826,000 in the same period last year[34] Strategic Outlook - The company's overall performance indicates a need for strategic adjustments in response to declining sales across key product categories[21] - The group plans to enhance operational efficiency and diversify revenue sources to improve financial performance in response to changing business environments[81] - The group aims to expand its business in the renewable energy sector to diversify and increase revenue streams[81] - The group anticipates ongoing challenges in the retail market due to intense competition and cautious consumer spending influenced by the economic environment[80] Corporate Governance - The company has adopted and complied with all corporate governance codes as per the listing rules, with a noted deviation regarding the roles of the Chairman and CEO[85] - The board does not recommend any dividend payment for the six months ended September 30, 2024[79] - The company confirmed that neither the directors nor major shareholders hold any interests in companies that may compete with the group[84] - As of September 30, 2024, the company has not engaged in any significant contracts related to its business with directors or major shareholders holding substantial interests[83] Share Capital - The average number of ordinary shares issued for calculating basic earnings per share increased to 284,117,000 for the six months ending September 30, 2024, compared to 240,000,000 for the same period last year[39] - The group has issued 284,117,000 ordinary shares as of September 30, 2024, with no changes in share capital during the six-month period[72] - The company has a share option plan that allows for the granting of options to directors, employees, and consultants, with a total of 4,800,000 shares available for issuance, representing 1.69% of the issued share capital as of September 30, 2024[89]

Financial Performance - For the fiscal year ending March 31, 2024, the company recorded a net profit attributable to shareholders of approximately HKD 2.2 million, an increase of about 57.1% compared to HKD 1.4 million for the fiscal year ending March 31, 2023[4]. - Revenue from retail sales of tiles, sanitary ware, and other products decreased by approximately 37.5% to about HKD 58.9 million, down from HKD 94.2 million in the previous fiscal year[4]. - For the fiscal year ending March 31, 2024, the group recorded total revenue of approximately HKD 122.6 million, a decrease of about 20.3% compared to HKD 153.9 million for the previous year[122]. - The group's gross profit was approximately HKD 79.6 million, slightly down by about 1.85% from HKD 81.1 million in the previous year, while the overall product profit margin increased from approximately 52.9% to 65.3%[122]. - The net profit attributable to the owners of the company was approximately HKD 1.7 million, an increase of about 57.1% from HKD 1.4 million in the previous year[122]. - Total revenue for the year ended March 31, 2024, was approximately HKD 122.6 million, down about 20.3% from HKD 153.9 million for the year ended March 31, 2023[151]. - Revenue from the sale of tiles and sanitary ware was approximately HKD 122.1 million, compared to HKD 153.4 million in the previous year, with retail sales at HKD 58.9 million and non-retail sales at HKD 63.2 million[154]. - Non-retail sales increased by approximately 6.6% from HKD 59.3 million to HKD 63.2 million due to efforts to expand sales to non-retail customers[148]. Operational Efficiency and Strategy - The company aims to enhance operational efficiency and explore opportunities to diversify revenue sources to improve financial performance[14]. - The group aims to diversify its revenue sources and enhance financial performance by exploring new opportunities[137]. - The group plans to expand its product range and increase product diversity to meet various customer needs[136]. - The group will continue to monitor changes in the business environment and strive to improve operational efficiency for sustainable development[137]. - The group plans to enhance non-retail sales by strengthening partnerships with existing distributors and project clients, including interior design firms and property developers[183]. Corporate Governance - The company has taken proactive steps to identify candidates who meet relevant regulations for independent non-executive director positions to fill vacancies in the audit and nomination committees[34]. - The company has received a waiver from the Stock Exchange to strictly comply with Listing Rules 3.10(1), 3.21, and 3.27A, extending the period to fill vacancies until August 14, 2024[46]. - The board currently has only two independent non-executive directors, which is below the minimum requirement of three as per Listing Rule 3.10(1)[49]. - The company is committed to ensuring all independent non-executive directors attend future shareholder meetings to comply with governance codes[46]. - The company has appointed Huang Chunping as an independent non-executive director, who will serve until the next annual general meeting[50]. - The board has agreed to recommend the reappointment of the external auditor for the next financial year at the upcoming annual general meeting[70]. - The company is focused on enhancing its corporate governance practices to meet regulatory requirements and improve board diversity[34]. - The audit committee held six meetings during the fiscal year ending March 31, 2024, to review the group's unaudited financial statements for the six months ending September 30, 2023[74]. - The nomination committee held one meeting to assess the board's structure, composition, and performance, ensuring compliance with corporate governance standards[94]. - The company has adopted a board diversity policy to ensure a balance of skills, experience, and diversity to meet business needs[196]. - The audit committee consists of three independent non-executive directors, complying with the requirement of at least three members as per listing rules[195]. - All independent non-executive directors have confirmed their independence positively for the year[196]. - The company has established mechanisms to ensure independent opinions and advice are available to the board[198]. - The board reviews the effectiveness of the mechanisms for independent non-executive directors annually[198]. - The company has a specific inquiry process to confirm the independence of independent non-executive directors[196]. - The company emphasizes the importance of qualifications and time commitment in the recruitment of independent non-executive directors[198]. - The company has a history of appointing directors based on merit and their potential contributions to the board and the company[196]. Financial Position and Risks - As of March 31, 2024, the company had bank borrowings of approximately HKD 92.1 million, an increase from HKD 80.7 million in the previous year[22]. - The company faces currency risk and foreign exchange fluctuations, particularly with the Euro, which may affect profit margins and operational performance[23]. - As of March 31, 2024, the group's debt-to-equity ratio was approximately 0.64 times, compared to 0.63 times in 2023, indicating stable financial leverage[174]. - The group has pledged investment properties valued at approximately HKD 34.3 million and bank deposits of about HKD 15.0 million as collateral for bank borrowings[178]. - The group will continue to monitor foreign currency risks closely and consider hedging significant foreign currency risks as needed[160]. Employee and Cost Management - Employee costs for the fiscal year were approximately HKD 17.4 million, a reduction from HKD 20.6 million in the previous year, attributed to a decrease in the number of employees[6]. - Employee costs for the group were approximately HKD 17.4 million for the year ending March 31, 2024, down from HKD 20.6 million in 2023, reflecting a reduction in workforce from 65 to 51 employees[179]. - Other expenses for the year were approximately HKD 14.8 million, a decrease from HKD 18.6 million in the previous year, primarily due to reduced procurement of inventory[156]. Future Outlook - The company remains cautious about the retail sector outlook, anticipating that fluctuating markets combined with high interest rates will continue to significantly impact retail operations[14]. - The group anticipates an increase in demand for home renovation materials following the Hong Kong government's cancellation of property cooling measures in late February 2024[126]. - The group anticipates an increase in demand for home renovation materials following the Hong Kong government's removal of property transaction restrictions in February 2024[182].

Financial Performance - The total revenue for the year ended March 31, 2024, was HKD 122,577,000, a decrease of 20.4% compared to HKD 153,945,000 for the previous year[4]. - The net profit for the year was HKD 2,163,000, representing an increase of 53.1% from HKD 1,412,000 in the previous year[4]. - Basic earnings per share increased to HKD 0.87, up from HKD 0.59, reflecting a growth of 47.5%[4]. - The total comprehensive income for the year was HKD 2,163,000, compared to HKD 1,412,000, marking a growth of 53.1%[4]. - The company reported a pre-tax profit of HKD 2,650,000, an increase of 17.1% from HKD 2,263,000 in the previous year[4]. - The pre-tax profit for the year 2024 was HKD 17,422,000, compared to HKD 20,557,000 in 2023, representing a decrease of approximately 15.5%[32]. - The company's profit attributable to shareholders for the year ending March 31, 2024, was approximately HKD 2.2 million, an increase of about 57.1% from HKD 1.4 million in 2023[57]. Revenue Breakdown - Total revenue from customer contracts was HKD 122,097,000 in 2023, compared to HKD 153,465,000 in 2024, representing a decrease of approximately 20.5%[20]. - Retail sales contributed HKD 58,875,000 in 2023, while non-retail sales generated HKD 63,222,000, indicating a shift in sales channels[20]. - Revenue from Hong Kong for 2024 was HKD 101,077,000, down from HKD 114,874,000 in 2023, representing a decline of approximately 12%[28]. - Revenue from Macau decreased significantly from HKD 39,071,000 in 2023 to HKD 21,500,000 in 2024, a drop of about 45%[28]. - Sales from tiles, sanitary ware, and other products accounted for approximately 99.6% of total revenue for the year ended March 31, 2024[51]. Cost Management - The cost of goods sold decreased to HKD 42,429,000 from HKD 72,353,000, indicating a reduction of 41.3%[4]. - Employee costs were reduced to HKD 17,422,000 from HKD 20,557,000, a decrease of 15.5%[4]. - The total employee benefits expenses, including salaries and other benefits, amounted to HKD 16,857,000 in 2024, down from HKD 18,807,000 in 2023, a reduction of about 10.4%[32]. - Other expenses decreased to approximately HKD 14.8 million for the year ending March 31, 2024, from HKD 18.6 million in 2023, primarily due to a reduction in product delivery costs[56]. Assets and Liabilities - As of March 31, 2024, total assets amounted to HKD 224,013,000, an increase from HKD 200,730,000 in the previous year, representing a growth of approximately 11.6%[6]. - Current assets decreased to HKD 92,979,000 from HKD 105,340,000, reflecting a decline of about 11.7%[6]. - Total liabilities increased to HKD 171,958,000 from HKD 156,207,000, indicating a rise of approximately 10.2%[7]. - The company's equity increased to HKD 143,420,000 from HKD 127,360,000, marking a growth of approximately 12.6%[7]. - The asset-to-liability ratio as of March 31, 2024, was approximately 0.64 times, compared to 0.63 times in 2023[60]. Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming fiscal year[2]. - The company has implemented new strategies to enhance operational efficiency and reduce costs[2]. - The company plans to expand its product portfolio and increase product variety to enhance market position and competitiveness[75]. - The company will focus on strengthening collaborations with existing distributors and project clients to boost non-retail sales revenue[76]. - The company remains cautious about the retail sector outlook, expecting significant impacts from fluctuating market conditions and high interest rates[76]. Compliance and Governance - The company has adopted new Hong Kong Financial Reporting Standards (HKFRS) effective from April 1, 2023, which includes significant updates on insurance contracts and accounting policy disclosures[12]. - The revisions to HKFRS are not expected to have a significant impact on the company's financial position or performance for the current and prior years[15]. - The company has applied for and received a waiver from strict compliance with Listing Rules regarding the composition of the board and committees, extending the compliance period until August 14, 2024[81]. - The company has adopted a share option scheme, granting 4,800,000 share options to executive directors at an exercise price of HKD 0.300 per share, representing 1.69% of the issued share capital as of March 31, 2024[87]. Market Outlook - Future guidance indicates a cautious outlook due to market volatility but aims for gradual recovery in revenue growth[2]. - The company anticipates an increase in demand for home renovation and improvement materials following the removal of property market restrictions by the Hong Kong government[75]. - The group faced currency risk due to costs incurred in euros while receiving revenue in Hong Kong dollars, which could affect profit margins[61]. - The group did not utilize any financial instruments for hedging purposes during the year and currently has no foreign currency hedging policy[63].

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 81,953,000, an increase of 12.8% compared to HKD 72,905,000 in the same period of 2022[6] - Net profit for the period was HKD 8,085,000, representing a 4.4% increase from HKD 7,742,000 in the previous year[6] - Basic earnings per share increased to HKD 3.37, up from HKD 3.23, reflecting a growth of 4.3%[6] - The company reported a profit before tax of HKD 9,911,000, compared to HKD 8,785,000 in the previous year, reflecting a growth of 12.8%[22] - Pre-tax profit for the period was HKD 8,085,000, compared to HKD 7,742,000 in the same period last year, indicating a growth of 4.4%[32] - Profit attributable to the owners of the company slightly increased by 5.2% from approximately HKD 7.7 million for the six months ended September 30, 2022, to approximately HKD 8.1 million for the six months ended September 30, 2023[56] Revenue Breakdown - Tile sales contributed HKD 75,764,000, up 51.9% from HKD 49,884,000 in the previous year, while bathroom fixtures and other products decreased to HKD 5,949,000 from HKD 22,781,000[18] - Retail sales accounted for HKD 36,406,000, down 29.0% from HKD 51,358,000, while non-retail sales surged to HKD 45,307,000, up 112.5% from HKD 21,307,000[18] - Revenue from external customers for the six months ended September 30, 2023, was HKD 81,953,000, an increase of 12.8% compared to HKD 72,905,000 in 2022[25] - Revenue from Hong Kong increased to HKD 60,453,000 from HKD 52,955,000, representing a growth of 14.2%[25] - Revenue from Macau rose to HKD 21,500,000 from HKD 19,950,000, reflecting an increase of 7.8%[25] - Revenue from the sale of tiles and sanitary ware products was approximately HKD 81.7 million, with retail sales contributing HKD 36.4 million and non-retail sales contributing HKD 45.3 million[60] Assets and Liabilities - Total assets as of September 30, 2023, were HKD 218,877,000, up from HKD 200,730,000 as of March 31, 2023[8] - The company’s total liabilities increased to HKD 180,811,000 from HKD 178,710,000, indicating a slight rise in financial obligations[24] - Trade receivables increased significantly to HKD 86,529,000 from HKD 58,824,000, marking a 47.1% rise[8] - Non-current assets decreased to HKD 97,379,000 from HKD 105,340,000, reflecting a decline of 7.5%[8] - Cash generated from operating activities was HKD 30,377,000, compared to HKD 27,026,000 in the prior year, indicating a 8.7% increase[11] - Cash and cash equivalents increased from HKD 13.8 million as of March 31, 2023, to HKD 15.9 million as of September 30, 2023[44] Financing and Costs - Financing costs rose to HKD 3,844,000 from HKD 2,694,000, an increase of 42.6%[6] - Total financing costs for the six months ended September 30, 2023, were HKD 3,844,000, up 42.6% from HKD 2,694,000 in 2022[26] - Employee costs decreased to approximately HKD 8.7 million from HKD 10.3 million due to a reduction in the number of employees[62] - The group had bank borrowings of approximately HKD 75.1 million as of September 30, 2023, down from HKD 80.7 million as of March 31, 2023[68] Strategic Developments - The company continues to focus on expanding its retail and property investment segments, with ongoing evaluations of resource allocation and performance assessment[22] - The acquisition of Zhi Chen, which specializes in solar panel installation and renewable energy consulting, is expected to enhance the group’s business network in the renewable energy sector and diversify its revenue sources[81] - The board believes that the sale of solar panel systems complements the company’s core business of selling high-end tile products to retail and non-retail customers[81] - The group anticipates significant impacts on the retail sector due to market volatility and high interest rates, and plans to implement strict measures to tighten operational expenses[80] Shareholder Information - The company has a total of 240 million shares issued and fully paid as of September 30, 2023[51] - As of September 30, 2023, Mr. Cao Sihao holds 150,000,000 shares, representing 62.50% of the company’s issued share capital[83] - Ms. Xu Daofei holds 152,740,000 shares, representing 63.64% of the company’s issued share capital through her spouse's interests[83] Corporate Governance - The company adopted and complied with the corporate governance code as per the listing rules, with a deviation from code provision C.2.1 regarding the roles of the Chairman and CEO[91] - The audit committee consists of three independent non-executive directors who review the financial information and the relationship with external auditors[97] - No significant contracts involving the company or its subsidiaries were identified as having substantial interests held by directors or controlling shareholders during the reporting period[88]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對 因本公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損 失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：1653） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 中 期 業 績 公 告 MOS House Group Limited（「本公司」）董事（「董事」）會（「董事會」）呈列本公司 及其附屬公司（統稱「本集團」）於截至二零二三年九月三十日止六個月的 未 經 審 核 簡 明 綜 合 財 務 業 績，連 同 二 零 二二 年 相 應 期 間 的 比 較 數 字。除 另有所指外，本公告所用詞彙與本公司日期為二零一八年九月二十八日 的招股章程（「招股章程」）所界定者具有相同涵義。 ...