F8企业(08347) - 2024 - 中期财报

Financial Performance - The Group recorded a revenue of approximately HK$135.0 million for the six months ended 30 September 2023, representing a decrease of approximately HK$110.5 million or 45.0% compared to the same period in 2022[15]. - The Group reported a net loss of approximately HK$2.4 million for the six months ended 30 September 2023, compared to a net profit of approximately HK$3.8 million for the same period in 2022[15]. - The loss for the six months ended 30 September 2023 was mainly due to a decrease in the Group's sale of diesel oil and a decrease in other gains and losses compared to the same period in 2022[16]. - The Group's performance was significantly impacted by the decline in diesel sales during the reporting period[17]. - The Group's total comprehensive income for the six months ended 30 September 2023 reflects the challenges faced in the market environment[15]. - Revenue for the six months ended September 30, 2023, was HK$134,981,000, a decrease of 45$245,468,000 for the same period in 2022[20]. - Gross profit for the six months ended September 30, 2023, was HK$7,731,000, down 30.9$11,030,000 in the previous year[20]. - Loss for the period was HK$2,416,000, compared to a profit of HK$3,795,000 for the same period in 2022[20]. - Total comprehensive loss for the period was HK$2,416,000, reflecting a significant decline from a total comprehensive income of HK$3,795,000 in the prior year[20]. - The Group recorded a net loss of approximately HK$2.4 million for the six months ended September 30, 2023, compared to a profit of HK$3.8 million for the same period in 2022[155]. - The Group's gross profit decreased by approximately HK$3.3 million from approximately HK$11.0 million for the six months ended September 30, 2022, to approximately HK$7.7 million for the six months ended September 30, 2023[154]. Cash Flow and Assets - Current assets decreased to HK$110,454,000 as of September 30, 2023, from HK$128,960,000 as of March 31, 2023[21]. - Cash and bank balances dropped to HK$7,969,000 from HK$28,557,000 over the same period[21]. - Trade receivables increased to HK$81,639,000 from HK$75,814,000, indicating a rise in outstanding payments[21]. - Net assets as of September 30, 2023, were HK$98,838,000, down from HK$101,254,000 as of March 31, 2023[21]. - The total cash and cash equivalents at the end of the period decreased to HK$7,969,000 from HK$22,439,000 at the end of the same period in 2022[27]. - The company’s cash and cash equivalents at the beginning of the period were HK$28,557,000, compared to HK$14,276,000 in the previous year[27]. - The Group's current assets amounted to approximately HK$110.5 million as of September 30, 2023, down from approximately HK$129.0 million as of March 31, 2023[161]. - As of September 30, 2023, the Group's net current assets were approximately HK$44.9 million, a decrease from HK$46.8 million as of March 31, 2023[166]. Dividends and Share Capital - The Board does not recommend the payment of any dividend for the six months ended 30 September 2023[16]. - No dividends were recommended for the six months ended September 30, 2023, consistent with the same period in 2022[66]. - The total authorized ordinary shares remained at 2,000,000,000 shares with a share capital of HK$20,000,000 as of September 30, 2023[118]. - The issued and fully paid ordinary shares were 137,520,190 shares with a share capital of HK$13,752,000 as of September 30, 2023, unchanged from March 31, 2023[118]. Operational Strategies - The Group aims to explore new strategies to enhance revenue streams moving forward[16]. - The management is focused on improving operational efficiency to mitigate losses in future periods[16]. - The Group is assessing potential market expansion opportunities to recover from the current downturn[16]. - The Group plans to deploy more resources on talent recruitment and strengthen its business development and marketing strategy in the diesel oil market[147]. - The Group will proactively seek potential business opportunities to broaden income sources and enhance shareholder value[150]. - The adverse impact of the pandemic and the war in Ukraine has created a challenging business environment, but the Group remains optimistic about future performance due to economic recovery in Hong Kong[147]. Credit and Risk Management - The Group's exposure to credit risk is primarily influenced by individual customer characteristics, with significant concentrations of credit risk arising from major customers[91]. - The Group applies a simplified approach for expected credit loss (ECL) on trade receivables, measuring loss allowances at an amount equal to lifetime ECL[92]. - The Group continuously monitors the financial background and creditworthiness of debtors to minimize credit risk, with most trade receivables not yet overdue having no default payment history[94]. Investments and Acquisitions - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended September 30, 2023[179]. - The Group did not have any plans for material investments or capital assets as of September 30, 2023[180]. - The Group did not engage in any derivative agreements to hedge foreign exchange exposure during the six months ended September 30, 2023[173]. Future Outlook - The business environment for diesel oil and marine diesel oil is expected to improve due to stable investment in public infrastructure and recovery in the logistics industry in Hong Kong[142]. - The Group has a clear timeline for utilizing the remaining net proceeds by 31 March 2024[200].