Financial Performance - Revenue for the six months ended September 30, 2022, was HK$50,002,000, an increase from HK$31,159,000 in the same period of 2021, representing a growth of 60.6%[8]. - Gross profit for the same period was HK$12,763,000, significantly up from HK$122,000 in 2021[8]. - Operating profit for the period was HK$11,043,000, compared to an operating loss of HK$12,133,000 in the previous year[8]. - Profit before income tax was HK$10,258,000, a turnaround from a loss of HK$14,395,000 in the prior year[8]. - Profit attributable to equity holders of the Company for the period was HK$10,258,000, compared to a loss of HK$14,395,000 in 2021[8]. - Basic and diluted earnings per share for the period were 1.81 HK cents, compared to a loss of 5.39 HK cents in the previous year[8]. - Total comprehensive income for the period attributable to equity holders was HK$9,423,000, recovering from a loss of HK$14,395,000 in 2021[11]. - The total comprehensive income for the period was HK$10,258,000, a turnaround from a total comprehensive loss of HK$9,423,000 in the same period of 2021[21]. Assets and Liabilities - As of September 30, 2022, total assets amounted to HK$96,684,000, an increase from HK$79,555,000 as of March 31, 2022, representing a growth of approximately 21.5%[13]. - The net current assets increased to HK$76,479,000 from HK$34,092,000, indicating a significant improvement of approximately 124%[13]. - Total equity attributable to equity holders of the Company increased to HK$78,062,000 as of September 30, 2022, up from HK$35,867,000 as of March 31, 2022, reflecting a growth of approximately 117%[13]. - Total assets as of September 30, 2022, amounted to HK$98,450, with segment assets from Hong Kong at HK$74,282 and from the UK at HK$17,233[72]. - Total liabilities as of September 30, 2022, were HK$20,388, with segment liabilities from Hong Kong at HK$8,643 and from the PRC at HK$1,362[72]. - The Group's unallocated corporate assets were valued at HK$4,371, while unallocated corporate liabilities stood at HK$10,383[72]. Cash Flow - Cash used in operations for the six months ended September 30, 2022, was HK$10,712,000, which is a deterioration from HK$1,591,000 used in the same period of 2021[23]. - Cash and cash equivalents at the end of the period decreased to HK$17,289,000 in 2022 from HK$25,496,000 in 2021, a decline of approximately 32%[26]. - The company reported a net decrease in cash and cash equivalents of HK$5,889,000 for the six months ended September 30, 2022, compared to an increase of HK$1,072,000 in 2021[26]. - The effect of foreign exchange rate changes resulted in a decrease of HK$407,000 in cash and cash equivalents for the six months ended September 30, 2022[26]. Segment Information - For the six months ended September 30, 2022, segment revenue from the sale of pearls and jewellery products was HK$48,915, while strategic investment and financial services generated HK$50,002, totaling HK$98,917[53]. - Segment profit for the sale of pearls and jewellery products was HK$15,241, whereas strategic investment and financial services incurred a loss of HK$1,781, resulting in an overall segment profit of HK$13,460[54]. - Revenue from external customers for the six months ended 30 September 2022 was HK$50,002,000, a significant increase from HK$31,159,000 in the same period of 2021[112]. - Revenue from a single customer in the USA accounted for approximately HK$40,432,000, representing over 81% of total revenue for the group[113]. Credit and Receivables - The reversal of allowance for expected credit loss on trade receivables was HK$7,990,000, indicating improved collection performance[95]. - Trade receivables increased to HK$13,612,000 as of September 30, 2022, compared to HK$5,667,000 as of March 31, 2022, representing a significant growth[146]. - The allowance for expected credit losses (ECL) on trade receivables decreased from HK$17,639,000 to HK$9,637,000, indicating improved credit quality[147]. - The Group's net trade receivables as of September 30, 2022, were HK$13,612,000, reflecting a recovery from previous periods[147]. Investments - The Group holds a 33% equity interest in Dellos Group Limited and its subsidiaries as of September 30, 2022[133]. - The Group's investment in associates, particularly in Dellos F&B, has been fully written down due to its bankruptcy proceedings initiated in July 2020[138]. - The Group's management considers it highly unlikely that any future economic benefits will arise from the investment in Dellos Group[138]. Employee and Administrative Expenses - Administrative expenses increased to HK$7,390,000 from HK$6,861,000 in the previous year[8]. - Employee benefit expenses showed a significant increase, amounting to (HK$18,164,000) compared to HK$8,600,000 in the previous year[116]. Taxation - The company has not made any provision for Hong Kong profits tax due to tax losses carried forward, which are available for offset against estimated assessable profits[121]. - The PRC corporate income tax rate applicable to the company's subsidiaries in China remains at 25% for the estimated assessable profits during the period[122]. Other Financial Information - The company did not recommend any interim dividend for the six months ended 30 September 2022, consistent with the previous year where no dividend was declared[122]. - The Group's financial assets are classified as measured at amortised cost, reflecting the intention to collect contractual cash flows[192].
钱唐控股(01466) - 2023 - 中期财报