Workflow
HP LIVING TECH(01682)
icon
Search documents
杭品生活科技(01682) - 正面盈利预告
2024-11-15 12:06
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 因倚賴該等內容而引致的任何損失承擔任何責任。 本公司董事(「董事」)會(「董事會」)謹此知會本公司股東(「股東」)及 潛在投資者,根據本集團管理層所作之初步評估及本集團截至二零二四年九月三 十日止六個月之未經審核綜合管理帳目,預期截至二零二四年九月三十日止六個 月本集團將錄得于約3.78百萬港元之利潤淨額,代表從二零二三年同期之未經審 核綜合虧損約2.15百萬港元扭虧為盈。根據目前獲得的資料,有關扭虧為盈乃主 要源自(i)透過損益按公平值計量之金融資產之公平值變動之收益約5.49百萬 港元;及(ii)行政和營運費用減少。 本公司仍正落實本集團截至二零二四年九月三十日止六個月之中期業績。上文所 載之資料僅基於董事會就目前可獲取的資料(包括截至二零二四年九月三十日止 中期之本集團管理帳目,其須待調整及定稿,且未經本公司獨立核數師審核或本 公司審核委員會審閱)之最新評估。本公司截至二零二四年九月三十日止六個月 之中期業績公告預期將於二零二四年十一月底刊 ...
杭品生活科技(01682) - 董事会会议日期
2024-11-07 10:02
董事會會議日期 杭品生活科技股份有限公司(「本公司」)董事會(「董事會」)謹此宣佈將於二零二 四年十一月二十二日(星期五)舉行董事會會議,藉以(其中包括)(i)考慮及批准本 公司及其附屬公司截至二零二四年九月三十日止六個月之未經審核中期業績及其刊發, 以及(ii)考慮派發中期股息(如有)。 承董事會命 杭品生活科技股份有限公司 行政總裁兼執行董事 林繼陽 香港,二零二四年十一月七日 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份內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HANG PIN LIVING TECHNOLOGY COMPANY LIMITED 杭 品 生 活 科 技 股 份 有 限 公 司 ( 於百慕達註冊成立之有限公司) ( 股份代號: 1682) 於本公告日期,董事會包括執行董事林繼陽先生、吳凱先生及張凱原先生;獨立非執行 董事陳健先生、周致人先生及黃冰芬女士。 ...
杭品生活科技(01682) - 2024 - 年度财报
2024-07-24 09:27
Financial Performance - The company's revenue for the reporting period was approximately HKD 96,691,000, a decrease of about 21.5% compared to HKD 123,210,000 in the previous year[51]. - The garment procurement revenue was approximately HKD 95,311,000, down approximately 19.71% from HKD 118,710,000 in the previous year[51]. - The financial services revenue was approximately HKD 1,380,000, a significant decrease from HKD 4,500,000 in the previous year[51]. - The gross profit margin was approximately 2.09%, a decrease of about 2.39 percentage points from 4.48% in the previous year[51]. - Administrative expenses increased by approximately 2.32% to about HKD 13,683,000, compared to HKD 13,373,000 in the previous year[51]. - The expected credit loss reversal was approximately HKD 152,000, down from HKD 917,000 in the previous year[51]. - The income tax reversal was approximately HKD 3,000,000, primarily due to the reversal of over-provisioned tax expenses from prior years[51]. - The company reported a loss attributable to shareholders of approximately HKD 3,655,000, an improvement from a loss of HKD 5,509,000 in the previous year[51]. - The company's reserves available for distribution to shareholders as of March 31, 2024, amounted to HKD 32,577,000, a decrease from HKD 37,874,000 in 2023[115]. Economic Outlook - China's economy grew by 5.2% in 2023, higher than previous forecasts, but the recovery in the apparel industry remains slow due to global economic challenges[22]. - The IMF forecasts global economic growth to remain at 3.2% for 2024 and 2025, with inflation expected to decline from 6.8% in 2023 to 5.9% in 2024[25]. - The economic outlook for Hong Kong in 2024 predicts a GDP growth of 2.5% to 3.5%[48]. - The geopolitical tensions and high interest rates are expected to add uncertainty to the global economic outlook, despite efforts by the Chinese government to stabilize the economy[27]. - The group maintains a cautiously optimistic outlook for long-term business prospects, anticipating gradual revenue improvement as inflation and inventory destocking pressures ease[27]. Business Strategy and Operations - The group has been expanding its financial services business since 2018, focusing on asset management, leasing, and lending, to diversify revenue sources[23]. - The group is closely monitoring market conditions to assess impacts on operations and financial performance[27]. - The company aims to enhance operational standards and seek new business opportunities to expand profit channels[49]. - The company’s business operations are primarily conducted through its subsidiaries in Hong Kong and mainland China[146]. - The company has a strong governance structure with experienced board members in various financial and management roles[94]. Financial Position and Liquidity - The group reported a current ratio of 5.93:1 as of March 31, 2024, compared to 2.85:1 on March 31, 2023, indicating a healthy financial position[31]. - As of March 31, 2024, the total assets of the group were approximately HKD 105,749,000, a decrease from approximately HKD 140,401,000 as of March 31, 2023[52]. - Cash and cash equivalents amounted to approximately HKD 60,238,000, up from approximately HKD 32,110,000 as of March 31, 2023[52]. - The group maintained a strong liquidity position throughout the reporting period, with current liabilities of approximately HKD 17,658,000, down from approximately HKD 49,051,000 as of March 31, 2023[52][53]. - The group has no bank or other borrowings as of March 31, 2024, maintaining a conservative financial management strategy[53]. Shareholder Information - Major shareholders include Mr. Wu Lianghao with 13.23% (103,950,000 shares) and Mr. Wu Zilun with 6.38% (50,173,000 shares) as of March 31, 2024[151]. - The total number of shares issued as of March 31, 2024, is 785,927,000[153]. - The board of directors decided not to declare any final dividend for the year ending March 31, 2024, consistent with the previous year[138]. - The board's dividend policy aims to allow shareholders to share in profits while retaining sufficient reserves for future development[117]. Risk Management - The group continues to evaluate its clients' credit and financial conditions to minimize credit risk[53]. - The company faces various risks and uncertainties, which are described in detail in the management discussion and analysis section[136]. - The financial risks are detailed in the "Management Discussion and Analysis" section of the report[111]. Compliance and Governance - The company has complied with the listing rules regarding the reporting of its financial status[111]. - The company has complied with the disclosure requirements under Chapter 14A of the Listing Rules regarding related party transactions[166]. - The company has confirmed the independence of all independent non-executive directors as of March 31, 2024, in accordance with Listing Rule 3.13[148]. - There were no significant violations of applicable laws and regulations that would materially affect the company's business and operations during the reporting period[167]. Investments and Acquisitions - The group has no significant capital commitments or plans for major investments as of March 31, 2024[62][85]. - There were no significant acquisitions or disposals related to subsidiaries, associates, and joint ventures during the reporting period[84]. - The company has not engaged in any purchases, redemptions, or sales of its listed securities during the reporting period[120]. Stock Options and Employee Information - The company has a stock option plan that was adopted on June 2, 2010, aimed at rewarding eligible participants[154]. - The total number of stock options granted under the plan as of January 16, 2018, is 22,068,000 shares, representing approximately 3.36% of the company's issued share capital[186]. - The total number of employees as of March 31, 2024, was approximately 22, with total salary and related costs around HKD 8,054,000, compared to HKD 8,152,000 in the previous year[73].
杭品生活科技(01682) - 2024 - 年度业绩
2024-06-21 12:40
Financial Performance - Revenue for the year ended March 31, 2024, was HKD 96,691,000, a decrease of 21.5% compared to HKD 123,210,000 in 2023[2] - Gross profit for the same period was HKD 2,309,000, down 58.3% from HKD 5,522,000 in the previous year[2] - The company reported a pre-tax loss of HKD 6,655,000, compared to a loss of HKD 5,509,000 in 2023, indicating a worsening of 20.8%[2] - The net loss attributable to owners of the company was HKD 3,655,000, an improvement from a loss of HKD 5,509,000 in the previous year[4] - The basic and diluted loss per share improved to HKD 0.47 from HKD 0.70, indicating a reduction in loss per share of 32.9%[4] - The company recorded other income and gains of HKD 4,725,000, significantly higher than HKD 1,591,000 in the previous year, an increase of 196.5%[2] - Revenue from garment procurement decreased to HKD 95,311 thousand, down 19.6% from HKD 118,710 thousand in the previous year[18] - Interest income from receivables dropped significantly to HKD 1,380 thousand, a decline of 69.4% compared to HKD 4,500 thousand in the previous year[18] - The company reported a total loss before tax of HKD 6,655 thousand for the fiscal year ending March 31, 2024, compared to a loss of HKD 5,509 thousand in the previous year[25][27] Assets and Liabilities - Total assets decreased to HKD 104,687,000 from HKD 139,639,000, reflecting a decline of 25.1%[6] - The company’s total assets as of March 31, 2024, amounted to HKD 105,749 thousand, a decrease from HKD 140,401 thousand as of March 31, 2023[28][30] - Total liabilities as of March 31, 2024, were HKD 17,658 thousand, compared to HKD 49,051 thousand in the previous year[28][30] - Trade receivables from customer contracts decreased significantly to HKD 13,646,000 in 2024 from HKD 42,239,000 in 2023, indicating a reduction in outstanding receivables[41] - Trade payables also saw a decrease, falling to HKD 13,500,000 in 2024 from HKD 41,821,000 in 2023, reflecting improved cash flow management[44] Equity and Financial Stability - The company’s total equity decreased to HKD 88,091,000 from HKD 91,350,000, a decline of 3.5%[6] - The current ratio was 5.93:1, indicating a healthy liquidity position compared to 2.85:1 in the previous year[58] - The company did not declare or recommend any dividends for the years ending 2024 and 2023, maintaining a focus on financial stability[39] - The total employee costs for 2024 were HKD 8,054,000, slightly down from HKD 8,152,000 in 2023, reflecting cost control measures[37] - The company has maintained a prudent financial management strategy to ensure a stable liquidity position[59] Business Strategy and Market Conditions - The company plans to continue focusing on garment procurement and financial services, with no specific new product or market expansion strategies mentioned in the report[8] - The financial services segment, initiated in 2018, aims to diversify revenue sources and expand in the Hong Kong and mainland China markets, focusing on asset management and lending services[52] - The global economic recovery remains challenging, with inflation high and geopolitical tensions affecting market confidence, particularly in the apparel sector[48] - China's economy grew by 5.2% in 2023, surpassing previous forecasts, but the apparel industry faced significant export declines to Europe and the US due to supply chain restructuring and weak consumer sentiment[49] - Hong Kong's economy showed a recovery with a GDP growth of 3.2% in 2023, although external demand for goods continued to weaken, impacting overall revenue[50][51] Compliance and Governance - The company has maintained compliance with all provisions of the corporate governance code for the year ended March 31, 2024, with some deviations noted[77] - The company has established a code of conduct for directors regarding securities trading, ensuring compliance with the standards set forth in the listing rules[83] - The board of directors includes executive directors Lin Jiyang and Zhang Kaiyuan, along with independent non-executive directors Lin Jiali, Chen Jian, and Zhou Zhiren[85] - The audit committee held two meetings during the year ended March 31, 2024, addressing key matters including the review of the audited consolidated financial statements[81][82] - The effectiveness of the risk management and internal control systems is assessed in conjunction with external auditors[86] Future Outlook - The IMF forecasts global economic growth to remain at 3.2% for 2024 and 2025, with developed economies slightly accelerating while emerging markets face a slowdown[53] - Hong Kong's GDP is projected to grow between 2.5% and 3.5% in 2024, with inflation rates expected at 1.7% for basic and 2.4% for overall consumer prices[54] - The group aims to enhance its core business operations while seeking new opportunities to expand profit channels[55] - The group is closely monitoring market conditions to assess impacts on operations and financial performance amid economic uncertainties[55]
杭品生活科技(01682) - 2024 - 中期财报
2023-12-21 09:01
Retail Market Performance - The group reported a significant decline in the retail market, with a 6.5% year-on-year drop in sales of clothing, shoes, and textiles in China[11]. - The overall retail sales in China decreased by 0.2% year-on-year, reflecting weak consumer sentiment and economic pressure[11]. - The retail market in Hong Kong remained unstable, with slow recovery in consumer spending due to the lingering effects of COVID-19[11]. - The overall economic growth in China was only 3.0% in 2022, significantly below the expected 5.5%[11]. Financial Performance - The group's revenue for the reporting period was approximately HKD 61,051,000, an increase of about 2.77% compared to HKD 58,419,000 in the previous year[21]. - The revenue from apparel procurement was approximately HKD 59,726,000, representing a growth of about 6.34% from HKD 56,163,000 in the previous year[21]. - The gross profit margin decreased to approximately 3.11%, down by about 1.62 percentage points from 4.73% in the previous year[21]. - The group reported a loss attributable to shareholders of approximately HKD 2,150,000, an improvement from a loss of HKD 3,713,000 in the previous year[21]. - Revenue for the six months ended September 30, 2023, was HKD 61,051,000, an increase of 2.8% compared to HKD 58,419,000 for the same period in 2022[75]. - Gross profit decreased to HKD 1,900,000, down 31.2% from HKD 2,763,000 year-on-year[75]. - The company reported a loss before tax of HKD 2,150,000, an improvement from a loss of HKD 3,713,000 in the previous year, representing a 42.2% reduction in losses[75]. - The diluted loss per share improved to HKD 0.27 from HKD 0.47 year-on-year, reflecting a 42.6% reduction in loss per share[75]. - The operating loss for the six months ended September 30, 2023, was HKD 2,150,000, an improvement from an operating loss of HKD 3,713,000 in the previous year[89][90]. - The company reported a net loss attributable to shareholders of HKD 2,150,000 for the six months ended September 30, 2023, compared to a net loss of HKD 3,713,000 in the same period last year[97]. Asset and Liquidity Management - As of September 30, 2023, the group's total assets were approximately HKD 103,584,000, down from HKD 140,401,000 as of March 31, 2023[23]. - The current ratio improved to 7.32:1 as of September 30, 2023, compared to 2.85:1 as of March 31, 2023, indicating a healthy liquidity position[23]. - The group maintained a prudent financial management strategy, ensuring a stable liquidity position throughout the reporting period[24]. - The group has no bank or other borrowings as of September 30, 2023, resulting in a reported debt ratio of zero[23]. - Cash and cash equivalents increased to HKD 34,531,000 from HKD 32,110,000, reflecting a net increase of HKD 2,421,000 during the period[80]. - The company’s total equity as of September 30, 2023, was HKD 89,609,000, down from HKD 91,350,000, a decrease of 1.9%[77]. Strategic Initiatives - The group adjusted its sales strategy to a low-margin, high-volume approach, which helped stabilize business operations despite ongoing challenges[12]. - The group aims to diversify its revenue sources through financial services, particularly in the lending sector, which is expected to benefit shareholders[14]. - The group is focusing on selecting reputable suppliers to promote sustainable business growth amid challenging market conditions[9]. - The group is enhancing its financial product offerings to capture market opportunities in both Hong Kong and mainland China[14]. - The group aims to enhance operational standards in its two main businesses while seeking new opportunities to expand profit channels[20]. Lending and Credit Management - The group has not recorded any borrower defaults in its lending business for the six months ending September 30, 2023[14]. - The company has implemented a credit risk assessment policy for its lending business, requiring detailed financial information from potential borrowers, including income sources and outstanding loans[28]. - The company uses a Debt-to-Income (DTI) ratio as a decision-making tool, rejecting applications with a DTI over 80% unless approved by the board, and ensuring DTI does not exceed 90%[30]. - The company actively monitors loan repayments and conducts quarterly reviews to identify any overdue payments, reporting to the credit committee[31]. - The company evaluates potential borrowers using an internal credit rating system, considering historical credit information and repayment history[38]. Shareholder and Governance Information - The board did not recommend any interim dividend for the six months ended September 30, 2023, consistent with the previous year[8]. - Major shareholders include Mr. Wu Lianghao with 103,950,000 shares (13.23%) and Mr. Wu Zilun with 50,173,000 shares (6.38%) as of September 30, 2023[12]. - The company has complied with all provisions of the Corporate Governance Code during the reporting period, with some deviations noted[59]. - The audit committee consists of three independent non-executive directors, who reviewed the unaudited interim financial statements for the six months ending September 30, 2023[63]. - The company has not established an internal audit function due to considerations of scale and cost-effectiveness, but the audit committee reviews the internal control systems annually[59]. Legal and Contingent Liabilities - The company is required to pay a total amount of approximately RMB 48,400,000 (equivalent to about HKD 52,600,000) as per the judgment registered in the Hong Kong High Court[109]. - The company has been held responsible for 50% of the debt owed by the borrowers, amounting to RMB 12,000,000 and RMB 38,000,000, despite the guarantee being deemed invalid[107]. - The company filed an application to revoke the registration of the judgment within 30 days of notification, indicating ongoing legal proceedings[109]. - The company has no contingent liabilities as of September 30, 2023, indicating a stable financial position[39]. - The company has no mortgaged assets as of September 30, 2023, reflecting a strong asset base[37].
杭品生活科技(01682) - 2024 - 中期业绩
2023-11-28 12:57
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 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HANG PIN LIVING TECHNOLOGY COMPANY LIMITED 杭 品 生 活 科 技 股 份 有 限 公 司 (於百慕達註冊成立的有限公司) (股份代號:1682) 中期業績公告 截至二零二三年九月三十日止六個月 未經審核中期業績 杭品生活科技股份有限公司(「本公司」)董事(「董事」)會(「董事會」)欣然宣佈,本 公司及其不時之附屬公司(統稱「本集團」)於截至二零二三年九月三十日止六個月 (「報告期」)之未經審核綜合業績連同上一相應期間之比較數字。 ...
杭品生活科技(01682) - 2023 - 年度财报
2023-07-27 09:21
Economic Challenges - The company faced significant challenges in the garment procurement segment due to geopolitical tensions and high inflation, leading to a decrease in consumer spending power and overall demand for textiles [8]. - In 2022, China's GDP growth was only 3.0%, significantly below the expected 5.5%, impacting the retail market, with clothing and textile sales declining by 6.5% [12]. - The group anticipates that customer demand will remain weak in the short term due to economic uncertainties, including high inflation and geopolitical tensions [23]. Financial Performance - The group's revenue for the reporting period was approximately HKD 123,210,000, a slight increase of 0.71% from HKD 122,339,000 in 2022 [26]. - The gross profit margin decreased to approximately 4.48%, down by 0.53 percentage points from 5.01% in 2022 [26]. - The group reported a loss attributable to owners of approximately HKD 5,509,000, an improvement from a loss of HKD 12,673,000 in 2022 [26]. Operational Adjustments - The company adjusted its sales strategy to a low-margin, high-volume approach, which helped stabilize business conditions, resulting in overall sales improvement compared to the previous year [13]. - The financial services segment, including asset management and lending, was expanded to diversify revenue sources, with a focus on the Hong Kong and mainland China markets [14]. - The lending business, operated by a wholly-owned subsidiary, reported no defaults on interest or principal during the reporting period, indicating a stable credit environment [17]. Asset Management - As of March 31, 2023, total assets were approximately HKD 140,401,000, up from HKD 135,124,000 a year earlier [27]. - The current ratio was 2.85:1, indicating a healthy liquidity position, slightly down from 2.87:1 in 2022 [27]. - The group maintained no bank or other borrowings as of March 31, 2023, consistent with the previous year [27]. Employee and Administrative Costs - Administrative expenses increased by approximately 17.17% to HKD 13,373,000, compared to HKD 11,413,000 in 2022 [26]. - The total salary and related costs for employees amounted to approximately HKD 8,152,000 for the year ending March 31, 2023, an increase from HKD 5,898,000 in the previous year [45]. - The group employs approximately 25 staff members (excluding directors), indicating a relatively small workforce [45]. Investment Strategy - The group maintains a low-risk investment strategy aimed at generating stable returns and improving capital utilization [51]. - The fair value of the investment in SenseTime Group is HKD 2,660,000, representing 1.89% of total assets [46]. - The group continues to focus on diversifying investments to achieve stable returns [51]. Corporate Governance - The company has adhered to all corporate governance code provisions for the year ending March 31, 2023, with no significant violations reported [143]. - The company has not established an internal audit function due to considerations of scale and cost-effectiveness, relying instead on the audit committee to review internal control systems annually [135]. - The board of directors is committed to ensuring sufficient reserves for future development while allowing shareholders to share in the company's profits [79]. Risk Management - The risk management policy aims to enhance risk management and ensure business continuity while maintaining the company's healthy development [170]. - The company has established a risk assessment and management program to identify potential risks related to unrealized goals [176]. - The board is responsible for overseeing the internal control system to protect the company's assets and shareholders' interests [177]. Shareholder Communication - The company has a policy to facilitate effective communication between the company and its investors and shareholders [179]. - The board is satisfied with the effective implementation of the shareholder communication policy during the reporting period [182]. - Shareholders have the right to request the convening of a special general meeting under specified conditions [184]. Audit and Compliance - The independent auditor confirmed that the consolidated financial statements reflect the group's financial position and performance accurately as of March 31, 2023 [193]. - The audit identified the assessment of impairment of accounts receivable as a key audit matter due to its significance in the overall financial statements [198]. - The group must ensure compliance with the Hong Kong Companies Ordinance in preparing financial statements [193].
杭品生活科技(01682) - 2023 - 年度业绩
2023-06-23 13:43
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 分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HANG PIN LIVING TECHNOLOGY COMPANY LIMITED 杭品生活科技股份有限公司 (於百慕達註冊成立的有限公司) (股份代號:1682) 年度業績公告 截至二零二三年三月三十一日止年度 年度業績 杭品生活科技股份有限公司(「本公司」)董事(「董事」)會(「董事會」)欣然宣佈,本 公司及其附屬公司(統稱「本集團」)於截至二零二三年三月三十一日(「報告期」)止 年度之經審核綜合業績連同去年之比較數字如下: 綜合損益及其他全面收益表 截至二零二三年三月三十一日止年度 二零二三年 二零二二年 附註 千港元 千港元 收入 4 123,210 122,339 銷售成本 (117,688) (116,211) 毛利 5,522 6,128 其他收入及其他收益 6 1,591 (3,922) ...
杭品生活科技(01682) - 2023 - 中期财报
2022-12-23 13:44
Economic Impact - The group reported a significant impact on business performance due to weak demand and delivery disruptions caused by COVID-19 and geopolitical tensions, leading to cautious ordering from wholesalers[9]. - In the first half of 2022, China's GDP growth was only 2.5%, with the second quarter showing a mere 0.4% growth, significantly lower than the 4.8% growth in the first quarter[11]. - The overall market conditions remain challenging due to global supply chain issues, despite some recovery in consumer retail sales in China since May 2022[11]. - The global economic growth rate is projected to decline from 6.0% in 2021 to 3.2% in 2022 and 2.7% in 2023, marking the weakest growth since 2001[23]. - China's growth rate is expected to drop from 8.1% in 2021 to 3.2% in 2022 and recover to 4.4% in 2023[23]. - Hong Kong's GDP contracted by 4.5% quarter-on-quarter in Q3 2022, with a year-to-date decline of 3.3%[24]. - Global inflation is expected to rise from 4.7% in 2021 to 8.8% in 2022, before decreasing to 6.5% in 2023 and 4.1% in 2024[23]. Business Strategy and Operations - The group has established a new supplier selection process to promote sustainable business growth by choosing reputable suppliers with strong financial health and good track records[9]. - The group has diversified its business by launching a lending service under its wholly-owned subsidiary, which has not recorded any loan defaults or write-offs during the reporting period[14]. - The group aims to enhance its financial services in both Hong Kong and mainland China, capitalizing on the growing demand in these markets[14]. - The company has adjusted its sales strategy to thin margins and increased sales volume to stabilize its business amid the crisis[12]. - The online retail business has seen growth due to the rise of "stay-at-home economy" during the pandemic, increasing customer expectations for speed, quality, and pricing[9]. - The group is focusing on expanding its product offerings and improving its financial service system to quickly scale its business[14]. - The company adopts a debt-to-income ratio (DTI) policy, rejecting applications with a DTI over 80% unless approved by the board, and ensuring DTI does not exceed 90%[18]. - The company is closely monitoring market conditions and assessing the impact of the pandemic on operations and financial performance[25]. - The company has shifted back to a light-asset business model, enhancing operational resilience in an uncertain market environment[25]. - The company aims to improve operational standards in its two main businesses while seeking new opportunities to expand profit channels[25]. - The company emphasizes strict supply chain quality control to ensure consistent product quality and meet consumer expectations[25]. - The company is committed to reducing inventory pressure and operational costs to enhance competitive advantages in the current economic environment[25]. Financial Performance - The group's revenue for the reporting period was approximately HKD 58,419,000, a decrease of about 1.96% compared to HKD 59,539,000 in the previous year[27]. - The gross profit margin was approximately 4.73%, down by 0.75 percentage points from 5.48% in the previous year[27]. - Administrative and operating expenses increased by approximately 19.28% to HKD 6,477,000 from HKD 5,430,000 in the previous year[27]. - The group reported a loss attributable to owners of approximately HKD 3,713,000, compared to a loss of HKD 1,616,000 in the previous year[27]. - As of September 30, 2022, the group's total assets were approximately HKD 122,925,000, down from HKD 135,124,000 as of March 31, 2022[28]. - The current ratio improved to 4.15:1 as of September 30, 2022, compared to 2.87:1 as of March 31, 2022, indicating a healthy liquidity position[28]. - The group had no bank or other borrowings as of September 30, 2022, resulting in a reported debt ratio of zero[28]. - The group realized a loss of approximately HKD 724,000 from the sale of 800,000 shares of China National Offshore Oil Corporation during the reporting period[42]. - Employee costs (excluding directors' remuneration) were approximately HKD 2,597,000, with the group employing around 22 staff members as of September 30, 2022[41]. - No interim dividend was recommended for the six months ended September 30, 2022, consistent with the previous year[44]. - Revenue for the six months ended September 30, 2022, was HKD 58,419,000, a decrease of 1.9% from HKD 59,539,000 in the same period of 2021[69]. - Gross profit for the same period was HKD 2,763,000, down 15.2% from HKD 3,260,000 year-on-year[69]. - The company reported a loss before tax of HKD 3,713,000, compared to a loss of HKD 1,616,000 in the previous year, indicating a significant increase in losses[69]. - Basic and diluted loss per share for the period was HKD 0.47, compared to HKD 0.21 in the prior year, reflecting a worsening financial performance[69]. - Non-current assets decreased from HKD 25,286,000 as of March 31, 2022, to HKD 861,000 as of September 30, 2022, primarily due to the write-off of receivables[71]. - Current assets increased to HKD 122,064,000 from HKD 109,838,000, driven by an increase in cash and cash equivalents[71]. - Current liabilities decreased from HKD 38,319,000 to HKD 29,424,000, improving the company's liquidity position[71]. - Net asset value as of September 30, 2022, was HKD 93,501,000, down from HKD 96,805,000 as of March 31, 2022[71]. - The company’s total comprehensive loss for the six months ended September 30, 2022, was HKD 54,061,000, compared to a loss of HKD 39,291,000 in the same period of 2021[74]. - The company reported a decrease in the fair value of financial assets measured at fair value through profit or loss, with a net change of HKD 202,000 compared to HKD 791,000 in the previous year[85]. - The company reported a loss of HKD 3,713,000 for the six months ended September 30, 2022, compared to a loss of HKD 1,616,000 for the same period in 2021, representing an increase in loss of approximately 129.5%[90]. - Total employee costs for the period amounted to HKD 3,737,000, up from HKD 3,097,000 in the previous year, indicating a year-over-year increase of about 20.7%[6]. - The cost of goods sold was HKD 55,606,000, slightly down from HKD 56,276,000 in the prior year, reflecting a decrease of approximately 1.2%[6]. - The company did not declare or recommend any dividends for the reporting period, consistent with the previous year[88]. - The average number of ordinary shares outstanding for the calculation of basic loss per share remained at 785,927,000 shares for both periods[90]. - As of September 30, 2022, the company had receivables of HKD 45,000,000, with an expected credit loss provision of HKD 1,271,000[93]. - Trade receivables aged 0 to 30 days amounted to HKD 12,351,000, while those aged 31 to 60 days were HKD 11,536,000, showing a decrease in total trade receivables from HKD 32,072,000 to HKD 23,887,000 year-over-year[94]. - The company has a loan receivable of HKD 25,000,000 with an annual interest rate of 10%, due in May 2023, and another loan of HKD 20,000,000 extended to 36 months from the original due date[94]. - Trade payables aged 0 to 60 days were reported at HKD 23,781,000, down from HKD 31,754,000 in the previous period[95]. - The company has terminated a lease agreement with a total rental of HKD 14,000,000, with no gain or loss recognized from this termination[91]. Governance and Management - The company complied with all provisions of the Corporate Governance Code during the reporting period, with some deviations noted regarding the separation of roles between the chairman and CEO[54]. - The board expressed gratitude to management and employees for their contributions during the reporting period[66].
杭品生活科技(01682) - 2022 - 年度财报
2022-07-14 13:39
Financial Performance - The group reported a loss attributable to owners of approximately HKD 12,673,000, compared to a loss of HKD 3,960,000 in the previous year[23]. - Revenue for 2022 was HKD 122,339,000, an increase of 1.9% from HKD 120,057,000 in 2021[197]. - Gross profit for 2022 was HKD 6,128,000, up from HKD 5,303,000 in 2021, reflecting a growth of 15.5%[197]. - The company reported a loss before tax of HKD 12,673,000 in 2022, compared to a loss of HKD 960,000 in 2021, indicating a significant increase in losses[197]. - The company’s total equity decreased to HKD 96,805,000 in 2022 from HKD 108,265,000 in 2021, a decline of 10.6%[199]. - The basic and diluted loss per share for 2022 was HKD 1.61, compared to HKD 0.60 in 2021, indicating a worsening of per-share performance[197]. - Other comprehensive income for the year was HKD 395,000 in 2022, compared to HKD 107,000 in 2021, reflecting an increase of 269.2%[197]. - Total assets decreased to HKD 109,838,000 in 2022 from HKD 69,091,000 in 2021, showing a decline in asset value[199]. - Cash and cash equivalents increased to HKD 34,462,000 in 2022, up from HKD 15,243,000 in 2021, representing a growth of 126.5%[199]. - The company’s net current assets improved to HKD 71,519,000 in 2022 from HKD 50,694,000 in 2021, an increase of 40.9%[199]. - The significant increase in administrative and operating expenses, which were HKD 11,413,000 in 2022 compared to HKD 12,017,000 in 2021[197]. Revenue Sources - The company recorded revenue of HKD 4.5 million from financial services, an increase from HKD 3.1 million in the previous year[13]. - Financial services revenue increased by approximately 44.28% to HKD 4,500,000, up from HKD 3,119,000 in the previous year, primarily due to the expansion of loan services[23]. - The garment procurement revenue was approximately HKD 117,839,000, reflecting a growth of about 0.77% from HKD 116,938,000 in the previous year[23]. - The overall sales performance improved compared to the previous year, despite conservative order placements due to intermittent pandemic outbreaks[12]. Business Challenges - The apparel procurement business faced significant challenges due to the ongoing COVID-19 pandemic, impacting sales and order placements[10]. - The global supply chain crisis led to significant increases in raw material costs and extended transportation times for goods[9]. - The retail environment remains challenging, particularly for non-essential goods like apparel, due to reduced consumer confidence and spending[10]. - The impact of trade tensions and the pandemic has led to cautious ordering behavior among wholesalers[10]. Strategic Initiatives - The company aims to diversify its business by expanding its financial services in both mainland China and Hong Kong, capitalizing on the growing demand in these markets[13]. - The company implemented a new supplier selection process to promote sustainable business growth, focusing on reputable and financially stable suppliers[10]. - The company is focused on enhancing its product offerings and financial service systems to quickly scale its business[13]. - The group maintained a prudent financial management strategy, ensuring sufficient liquidity to support its operations and development plans[26]. Risk Management - The company established a standardized risk management system to address credit risks inherent in its financial services business[15]. - The expected credit loss provision was approximately HKD 3,290,000, compared to a reversal of HKD 3,164,000 in the previous year, mainly due to impairment losses on receivables[23]. - The company recognized an impairment loss of approximately HKD 2.68 million on receivables from a former subsidiary, Best Keen International Limited, as of March 31, 2022[118]. - The assessment of impairment for receivables requires significant management judgment, considering customer credit history and current market conditions[182]. Corporate Governance - The company is committed to high standards of corporate governance and has established various committees, including the Nomination, Remuneration, and Audit Committees[145]. - The board currently has no intention to fill the vacant chairman position, believing collective decision-making will not adversely affect the company[141]. - Independent non-executive directors have a fixed term of three years, automatically renewing unless terminated with a month's notice[144]. - The board believes that the existing internal control system is effective and meets current requirements[166]. Shareholder Information - The company reported a reserve available for distribution to shareholders of HKD 39,346,000 as of March 31, 2022, down from HKD 41,210,000 in 2021[62]. - The board decided not to declare any final dividend for the year ending March 31, 2022, consistent with the previous year[61]. - Major shareholder Mr. Wu Lianghao owns 103,950,000 shares, accounting for 13.23% of the total shares[91]. - The company aims to allow shareholders to share in profits while retaining sufficient reserves for future development as part of its dividend policy[66]. Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements of Hangpin Life Technology Co., Ltd. reflect a true and fair view of the group's financial position as of March 31, 2022, and for the year then ended[178]. - The auditor's opinion is based on compliance with Hong Kong Financial Reporting Standards and the Companies Ordinance disclosure requirements[178]. - The audit procedures included sampling tests of aging analysis and repayment terms from loan agreements[182]. - The total audit service fees paid to the external auditor amounted to HKD 530,000 for the reporting period[163].