维珍妮(02199) - 2025 - 中期财报

Financial Performance - For the six months ended September 30, 2024, the net cash generated from operating activities was HK$484,138,000, compared to HK$280,423,000 for the same period in 2023, representing an increase of 72.5%[71]. - Total segment revenue for the six months ended September 30, 2024, was HK$3,977,617, an increase from HK$3,544,797 in the same period of 2023, representing a growth of approximately 12.2%[83]. - Gross profit for the same period was HK$938,017, compared to HK$825,000 in 2023, indicating a year-over-year increase of about 13.7%[83]. - Profit for the period was HK$67,619, a decrease from HK$70,000 in the previous year, reflecting a decline of approximately 3.4%[83]. - Adjusted profit attributable to owners of the Company increased by 3.4% to HK$203,188 compared to HK$196,574 in 2023[148]. - Net profit for the Period was approximately HK$67.6 million, representing a year-on-year decrease of 36.7$507.1 million, with an EBITDA margin of 12.7%[200]. - Basic earnings per share for the six months ended September 30, 2024, was HK$5.52, down from HK$8.73 in the same period of 2023, reflecting a decline of 36.7%[122]. Cash Flow and Financing Activities - For the six months ended September 30, 2024, net cash used in financing activities was HK$188,571,000, compared to HK$91,168,000 for the same period in 2023, representing a 106% increase[3]. - The net increase in cash and cash equivalents for the period was HK$78,119,000, contrasting with a decrease of HK$20,033,000 in the prior year[3]. - Cash and cash equivalents at the end of the period stood at HK$704,743,000, up from HK$460,847,000 at the end of the same period in 2023, marking a 53% increase[3]. - The company reported proceeds from new borrowings of HK$1,702,218,000, while repayments of borrowings totaled HK$1,704,560,000[3]. - The principal element of lease payments was HK$17,068,000, and interest paid amounted to HK$169,161,000 for the current period[3]. - The total borrowings and bank interest payables as of September 30, 2024, reached HK$4,519,002,000[32]. - Total undrawn banking facilities amounted to approximately HK$3,555.6 million as of 30 September 2024[200]. Taxation and Income - The company reported a profit tax payment of HK$6,474,000 for the period, compared to HK$132,112,000 in 2023, reflecting a significant decrease in tax obligations[71]. - Current income tax expenses for the six months ended September 30, 2024, amounted to HK$31,313,000, compared to HK$18,210,000 for the same period in 2023, indicating an increase of 72.1%[119]. - Deferred income tax for the six months ended September 30, 2024, was HK$13,442,000, compared to a deferred income tax of HK$10,001,000 for the same period in 2023, representing a rise of 34.4%[119]. - Regina Miracle International Hung Yen Co., Ltd. will pay corporate income tax at a reduced rate of 5% starting from the year ended March 31, 2024, reflecting a 50% reduction from the original 10% rate[116]. Operational Insights - The company continues to focus on product development and market expansion across its four main segments, aiming to enhance overall performance and profitability[57]. - The Group's two core business segments, intimate wear and sports products, recorded steady performance, benefiting from the recovery in orders from key brand partners[194]. - The Group's patented bonding craftsmanship has begun to gain market recognition, providing a new source of business growth[194]. - The joint venture with Victoria's Secret maintained flat growth despite a sluggish market environment in China[195]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[192]. Financial Position and Risk Factors - The Group's financial risk factors include cash flow interest rate risk, foreign currency risk, credit risk, and liquidity risk[26]. - The Group's liquidity risk analysis indicates that balances due within 12 months equal their carrying balances, as the impact of discounting is not significant[28]. - The carrying amounts of current financial assets and liabilities approximate their fair values due to their short maturities[5]. - The Group's lease liabilities as of September 30, 2024, amounted to HK$343,729,000[32]. Research and Development - Research and development costs amounted to HK$154,092, up from HK$140,000 in 2023, which is an increase of about 10$1,739,774, an increase of 8.5% from HK$1,603,779 in 2023[83]. - Revenue from the People's Republic of China (PRC) reached HK$858,482, up from HK$802,296, marking a growth of approximately 7%[83]. Compliance and Standards - The interim financial information has been prepared in accordance with Hong Kong Accounting Standard ("HKAS") 34, indicating compliance with relevant financial reporting standards[8]. - The adoption of new and amended standards did not have any significant impact on the results and financial position of the group[17]. - The Group has not adopted the amendments and interpretations to existing and new standards that are not yet effective, anticipating no material impact on results and financial position[20].