Financial Performance - The company reported a total comprehensive loss of HKD 154,036,692 for the six months ended September 30, 2022, compared to a loss of HKD 66,491,598 for the same period last year[13]. - The company reported a loss attributable to owners of HKD 78,929,965 for the six months ended September 30, 2022, compared to a profit of HKD 12,438,611 in the same period last year, indicating a significant downturn[23]. - The company reported a significant operating loss of HKD 150,560,502 for the current period, compared to an operating profit of HKD 27,786,404 in the previous year[27]. - For the six months ended September 30, 2022, the company reported a loss attributable to shareholders of HKD 150,588,622, compared to a loss of HKD 70,986,045 for the same period in 2021, representing a 112.4% increase in losses[80]. - The company's operating loss for the six months ended September 30, 2022, was HKD 149,328,501, compared to an operating loss of HKD 74,922,271 for the same period in 2021, marking a 99.5% increase in operating losses[80]. - The company's total comprehensive loss for the period was HKD 83,424,656, compared to a total comprehensive loss of HKD 70,986,045 in the previous year, representing an increase of 17.5%[85]. Revenue and Profitability - Revenue from the trading of goods and commodities amounted to HKD 139,562,008, with a gross profit of HKD 6,372,213 for the current period[27]. - Revenue for the six months ended September 30, 2022, was HKD 139,562,008, a decrease from HKD 457,632,630 in the same period of 2021, reflecting a decline of 69.5%[80]. - The group's total revenue for the goods and merchandise trading segment was approximately HKD 139,600,000 for the six months ending September 30, 2022, a decrease from HKD 423,200,000 for the same period in 2021[103]. Assets and Liabilities - Total loans receivable as of September 30, 2022, was HKD 478,375,767, consistent with HKD 478,842,967 as of March 31, 2022[4]. - The company’s total assets increased to HKD 345,990,569 as of September 30, 2022, compared to HKD 321,753,396 as of March 31, 2022, reflecting a growth of approximately 7.5%[28]. - The company’s total liabilities rose to HKD 195,209,719 as of September 30, 2022, compared to HKD 118,576,678 as of March 31, 2022, indicating an increase of approximately 64.5%[28]. - As of September 30, 2022, the company's total equity decreased to HKD 150,780,850 from HKD 203,176,718 as of March 31, 2022, representing a decline of approximately 26%[17]. - The company's equity decreased from approximately HKD 203.2 million on March 31, 2022, to approximately HKD 150.8 million on September 30, 2022, primarily due to comprehensive losses incurred during the reporting period[42]. Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 225,868,970 from HKD 203,861,996, reflecting improved liquidity[15]. - As of September 30, 2022, the group's cash and cash equivalents amounted to HKD 225,900,000, an increase from HKD 203,900,000 as of March 31, 2022[107]. Credit and Receivables - Trade receivables as of September 30, 2022, amounted to HKD 76,392,434, an increase of 24.3% from HKD 61,437,606 as of March 31, 2022[1]. - The net expected credit loss provision for trade receivables decreased slightly from HKD 13,513,538 to HKD 12,840,943, indicating stable credit quality[2]. - Average credit period for trade receivables remained at 90 days as of both reporting dates[1]. Operational Changes - The company has ceased its lending business and trading operations since June 2022, which may impact future revenue streams[20]. - The group ceased its debt financing operations in June 2022 and has not reported any revenue or performance from that segment[98]. Employee and Compensation - The total employee compensation, including salaries, commissions, bonuses, and other related costs, was approximately HKD 5,800,000 for the reporting period, down from HKD 7,500,000 in the first half of 2021[62]. - As of September 30, 2022, the company had 34 employees, a slight decrease from 35 employees as of March 31, 2022[62]. Governance and Compliance - The company is required to comply with the Stock Exchange's guidelines regarding financial disclosures and internal controls, indicating ongoing regulatory scrutiny[83]. - The board has adopted a diversity policy to ensure the sustainable and balanced development of the company by considering the importance of diversity in board membership[68]. - The company has adhered to the corporate governance code, with some deviations noted[138]. Future Plans and Market Opportunities - The company plans to utilize approximately HKD 100 million from the proceeds of the subscription for expanding its existing cosmetics and personal care trading business[46]. - The expected growth of China's cross-border e-commerce market is projected at 15%, reaching RMB 1.98 trillion in 2021, presenting significant opportunities for the company's e-commerce trade business[35]. - The company aims to strengthen its procurement network and market trend understanding to capture better market opportunities from China[35]. Tax and Financial Management - The tax expense for the six months ended September 30, 2022, was HKD 57,948, while the tax benefit for the same period in 2021 was HKD 6,713,722, indicating a significant change in tax position[80]. - The effective tax rate for the company's subsidiaries in China remained at 25% for the reporting period[78]. - The company has a financial risk management policy in place to ensure all payables are settled within credit terms[74].
云白国际(00030) - 2024 - 中期业绩