Financial Performance - For the six months ended September 30, 2024, the group recorded revenue of approximately HKD 201.0 million, a decrease of about HKD 39.6 million or 16.5% compared to the same period in 2023[3]. - The net profit attributable to the company for the six months ended September 30, 2024, was approximately HKD 20.0 million, down by about HKD 1.5 million or 6.8% from HKD 21.4 million in the same period of 2023[3]. - The gross profit for the six months ended September 30, 2024, was HKD 33.78 million, compared to HKD 34.996 million for the same period in 2023, reflecting a decline in gross profit margin[4]. - The company reported a net profit of HKD 19,988,000 for the six months ended September 30, 2024, compared to HKD 21,446,000 for the same period in 2023, indicating a decrease of approximately 6.8%[7]. - Revenue decreased by approximately 16.5% from about HKD 240.6 million for the six months ended September 30, 2023, to about HKD 201.0 million for the same period in 2024, mainly due to a decline in sales of various seafood products[38]. - The cost of goods sold for the six months ended September 30, 2024, was approximately HKD 167.2 million, a decrease of about 18.7% from approximately HKD 205.6 million for the same period in 2023[39]. - Gross profit for the six months ended September 30, 2024, was approximately HKD 33.8 million, down from approximately HKD 35.0 million for the same period in 2023, while the gross profit margin increased to approximately 16.8% from about 14.5%[40]. Dividends and Shareholder Information - The board of directors does not recommend the payment of dividends for the six months ended September 30, 2024[3]. - The company paid out HKD 11,200,000 in dividends during both the six months ended September 30, 2024, and 2023, maintaining a consistent dividend policy[9]. - The company declared a final dividend of HKD 0.04 per share for the year ending March 31, 2024, consistent with the previous year, totaling HKD 11,200,000[23]. - Major shareholders, including 嘉信控股有限公司, hold 205,800,000 shares, representing 73.5% of the total shares[52]. Assets and Liabilities - Total assets less current liabilities as of September 30, 2024, amounted to HKD 270.322 million, an increase from HKD 261.472 million as of March 31, 2024[5]. - The company reported cash and cash equivalents of HKD 19.927 million as of September 30, 2024, down from HKD 104.907 million as of March 31, 2024[5]. - The company’s total equity as of September 30, 2024, was HKD 270.183 million, up from HKD 261.395 million as of March 31, 2024[6]. - As of September 30, 2024, the total equity attributable to owners of the company was approximately HKD 270.2 million, an increase from HKD 261.4 million as of March 31, 2024[46]. - The group had no bank borrowings as of September 30, 2024, maintaining an asset-liability ratio of approximately 0.2%[47]. Cash Flow and Investments - Net cash generated from operating activities for the six months ended September 30, 2024, was HKD 20,871,000, compared to HKD 19,495,000 for the same period in 2023, representing an increase of about 7.0%[9]. - The company incurred a net cash outflow from investing activities of HKD 94,075,000 for the six months ended September 30, 2024, compared to HKD 26,652,000 for the same period in 2023, indicating a significant increase in investment expenditures[9]. - The company raised approximately HKD 63.0 million through the issuance of shares, enhancing its financial strength for business expansion[46]. Market and Operational Insights - The group anticipates continued challenges in the frozen seafood market, with a focus on improving operational efficiency and exploring new market opportunities[21]. - The company plans to closely monitor market conditions, particularly in the local retail market, and will enhance cost-saving measures in response to economic challenges[36]. - The company has secured several new overseas suppliers and will continue to seek exclusive agency or sales arrangements to expand its product portfolio[37]. - The company aims to leverage its listing status to enhance its reputation and strengthen business relationships with existing suppliers and customers[36]. - The company anticipates ongoing pressure in the food service industry due to changing consumer spending trends in Hong Kong[36]. Receivables and Payables - Trade and other receivables increased to HKD 66.026 million as of September 30, 2024, compared to HKD 59.778 million as of March 31, 2024[5]. - Trade receivables as of September 30, 2024, amounted to HKD 49,776, slightly down from HKD 50,292 as of March 31, 2024[26]. - Trade payables as of September 30, 2024, were reported at HKD 11,984, an increase from HKD 8,569 as of March 31, 2024[29]. - The aging analysis of trade receivables shows that HKD 29,935 was within 30 days, while HKD 5,260 was overdue by more than 90 days as of September 30, 2024[27]. - The company did not make any provisions for expected credit losses on trade receivables, citing low default risk based on historical data[28]. Audit and Governance - The audit committee, established on September 21, 2017, consists of three independent non-executive directors and is responsible for reviewing financial statements and internal control procedures[59]. - The audit committee has reviewed the unaudited condensed consolidated financial statements and performance for the six months ending September 30, 2024, and believes they comply with applicable accounting standards and regulations[60].
大洋环球控股(08476) - 2025 - 中期业绩