Financial Performance - For the six months ended September 30, 2024, the group reported revenue of approximately HKD 201.0 million, a decrease of about HKD 39.6 million or 16.5% compared to HKD 240.6 million for the same period in 2023[4] - The net profit attributable to the owners of 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[4] - Gross profit for the six months ended September 30, 2024, was approximately HKD 33.8 million, a decrease from HKD 35.0 million for the same period in 2023[6] - Revenue from the sale of frozen seafood products for the six months ended September 30, 2024, was HKD 200,983,000, down 14.2% from HKD 234,628,000 in the same period of 2023[31] - Revenue from shrimp products decreased to HKD 58,782,000 for the six months ended September 30, 2024, a decline of 60.1% compared to HKD 146,563,000 in the same period of 2023[31] - Revenue from frozen seafood wholesalers was HKD 192,347,000 for the six months ended September 30, 2024, down 16.5% from HKD 230,019,000 in the same period of 2023[33] - Revenue from the Hong Kong region for the six months ended September 30, 2024, was HKD 157,579,000, a decrease of 2.0% from HKD 160,000,000 in the same period of 2023[34] - 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 HKD 205.6 million for the same period in 2023[55] - Gross profit for the six months ended September 30, 2024, was approximately HKD 33.8 million, down from HKD 35.0 million for the same period in 2023, while the gross profit margin increased to approximately 16.8%, up from 14.5%[56] Dividends and Shareholder Information - The board of directors did not recommend the payment of a dividend for the six months ended September 30, 2024[4] - The company paid dividends of HKD 11,200,000 during the period, unchanged from the previous year[18] - The company declared a final dividend of HKD 0.04 per share for the year ending March 31, 2024, totaling HKD 11,200,000, consistent with the previous year[37] - The company has a significant shareholder, 嘉信控股有限公司, holding 205,800,000 shares, representing 73.5% of the total shares[71] - The company's executive director, 陳建峰, also holds 205,800,000 shares, equating to 73.5% ownership[71] - The spouse of 陳建峰, 謝春霞, is considered to have rights to the same 205,800,000 shares, also representing 73.5%[71] Cash Flow and Assets - The group’s cash and cash equivalents decreased to HKD 19.9 million as of September 30, 2024, from HKD 104.9 million as of March 31, 2024[9] - The total cash and cash equivalents at the end of the period decreased to HKD 19,927,000 from HKD 40,457,000, representing a decline of 50.7%[18] - Current assets as of September 30, 2024, totaled HKD 233.0 million, an increase from HKD 219.2 million as of March 31, 2024[9] - Total assets less current liabilities as of September 30, 2024, amounted to HKD 270.3 million, compared to HKD 261.5 million as of March 31, 2024[11] - The group’s total equity as of September 30, 2024, was HKD 270.2 million, an increase from HKD 261.4 million as of March 31, 2024[11] Operating Activities - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 20,871,000, an increase of 7.1% from HKD 19,495,000 in the same period of 2023[18] - The net cash used in investing activities was HKD (95,000,000) for the six months ended September 30, 2024, compared to HKD (88,000,000) in the same period of 2023[18] - The company reported a decrease in cash and cash equivalents of HKD 84,980,000 for the six months ended September 30, 2024, compared to a decrease of HKD 18,914,000 in the same period of 2023[18] Expenses and Costs - Employee costs, including director remuneration, increased to HKD 1,864,000 for the three months ended September 30, 2024, from HKD 1,811,000 in the same period of 2023, reflecting a rise of 2.9%[35] - Administrative expenses for the six months ended September 30, 2024, were approximately HKD 4.2 million, a slight decrease of about 2.5% from HKD 4.3 million for the same period in 2023[59] - Financial costs decreased from approximately HKD 43,000 for the six months ended September 30, 2023, to approximately HKD 17,000 for the same period in 2024[60] - Tax expenses for the six months ended September 30, 2024, were approximately HKD 3.52 million, a decrease of about 16.4% from HKD 4.21 million for the same period in 2023[61] Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2024, and found them compliant with applicable accounting standards[81] - The company has adhered to the corporate governance code since its listing on October 19, 2017[79] - There are no reported conflicts of interest or competition from directors or major shareholders during the reporting period[75] - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[80] - The company has adopted a stock option plan to reward eligible participants for their contributions[77] Other Financial Metrics - The group recorded a basic earnings per share of HKD 7.14 for the six months ended September 30, 2024, down from HKD 7.66 for the same period in 2023[6] - The basic earnings per share for the six months ended September 30, 2024, was HKD 19,988,000, compared to HKD 20,325,000 for the same period in 2023, indicating a decrease of approximately 1.7%[38] - Trade receivables as of September 30, 2024, amounted to HKD 49,776,000, compared to HKD 29,935,000 as of March 31, 2024, showing an increase of approximately 66.3%[40] - The total liabilities as of September 30, 2024, included trade payables of HKD 11,984,000, up from HKD 8,569,000 as of March 31, 2024, reflecting an increase of approximately 39.5%[43] - The company did not recognize any expected credit loss provisions for trade receivables, citing low default risk based on historical credit loss experience[41] - The company had no bank borrowings as of September 30, 2024, maintaining a debt-to-equity ratio of approximately 0.2%[64] - No share buybacks or sales of listed securities occurred within the six months ending September 30, 2024[74] - The company has not issued, exercised, or allowed any stock options to expire or lapse during the reporting period[78]
大洋环球控股(08476) - 2025 - 中期财报