Financial Performance - The group's revenue for the six months ended September 30, 2023, was approximately HKD 34.8 million, a decrease of about HKD 8.1 million or 18.8% compared to the same period in 2022[5]. - The net loss for the group for the six months ended September 30, 2023, was approximately HKD 12.8 million, compared to a net profit of approximately HKD 0.5 million for the same period in 2022[5]. - Total comprehensive expenses for the group for the six months ended September 30, 2023, were approximately HKD 12.8 million, while total comprehensive income for the same period in 2022 was approximately HKD 0.5 million[5]. - The basic and diluted loss per share for the period was HKD (0.81), compared to earnings of HKD 0.03 per share for the same period in 2022[15]. - The company reported a loss of HKD 12,760,000 for the six months ended September 30, 2023, compared to a profit of HKD 500,000 for the same period in 2022[27]. - Revenue decreased by approximately 18.7% from HKD 42,743,000 in 2022 to HKD 34,778,000 in 2023, primarily due to a decline in furniture and home decor sales[27]. - Gross profit decreased by about 17.1% from HKD 28,200,000 to HKD 23,400,000, while the gross margin improved from 65.9% to 67.3%[41]. - The company recorded a net loss of approximately HKD 12.8 million for the six months ended September 30, 2023, compared to a profit of approximately HKD 0.5 million for the same period in 2022[72]. Dividend and Shareholder Information - The board of directors does not recommend the payment of an interim dividend for the six months ended September 30, 2023[5]. - The company did not recommend the payment of an interim dividend for the period[33]. - The company has not granted any share options under the share option scheme as of the report date[120]. - The company has adopted a share option scheme to reward eligible participants for their contributions and to attract and retain high-quality employees, compliant with GEM Listing Rules[136]. - The company’s major shareholder, Yuting, holds 47.09% of the company's shares, fully owned by the chairman and CEO, Mr. Tang[124]. - As of September 30, 2023, Rothley Investment Limited holds a 3.75% stake in the company, fully owned by Ms. Babington[81]. Assets and Liabilities - The group's total assets as of September 30, 2023, were approximately HKD 74.981 million, compared to HKD 74.554 million as of March 31, 2023[16]. - The group's net current assets as of September 30, 2023, were approximately HKD 5.825 million, a decrease from HKD 31.126 million as of March 31, 2023[16]. - Non-current liabilities, specifically lease liabilities, increased to HKD 5.991 million as of September 30, 2023, from HKD 4.684 million as of March 31, 2023[9]. - The group's equity as of September 30, 2023, was approximately HKD 38.916 million, down from HKD 51.679 million as of March 31, 2023[9]. - The company’s cash flow management remains strict, with no overdue or impaired amounts in other receivables as of September 30, 2023[37]. - Trade payables increased to HKD 12,053,000 as of September 30, 2023, compared to HKD 11,796,000 as of March 31, 2023[38]. - The company’s foreign exchange reserves decreased slightly from HKD 67,000 to HKD 64,000[18]. Revenue Sources and Business Operations - Direct sales revenue for the six months ended September 30, 2023, was approximately HKD 28.9 million, down by about HKD 7.8 million or 21.2% from HKD 36.7 million in the same period of 2022, primarily due to a decrease in direct sales from retail stores in Hong Kong[76]. - Furniture and home accessories sales amounted to HKD 29.5 million, down from HKD 37.3 million, reflecting a decrease of approximately 20.9%[94]. - The commission income from furniture agency services decreased from approximately HKD 3.7 million to about HKD 3.5 million during the period[107]. - The group generated approximately HKD 1.8 million in food and beverage revenue from the TREE Café, remaining relatively stable compared to the previous period[99]. - The group plans to continue focusing on operating two TREE retail stores in Hong Kong and its e-commerce platform, while seeking to integrate and invest to enhance current revenue sources and explore new opportunities[109]. Cash Flow and Investment Activities - The net cash used in operating activities for the six months ended September 30, 2023, was HKD (16,152) thousand, compared to HKD (6,094) thousand for the same period in 2022[45]. - The net cash used in investing activities for the six months ended September 30, 2023, was HKD (5,081) thousand, significantly higher than HKD (77) thousand in the same period of 2022[45]. - The net cash generated from financing activities for the six months ended September 30, 2023, was HKD 14,944 thousand, a substantial increase from HKD 114 thousand in the same period of 2022[45]. - The total cash and cash equivalents as of September 30, 2023, decreased to HKD 3,190 thousand from HKD 16,128 thousand as of the same date in 2022[45]. - The total cash and cash equivalents decreased by HKD 6,289 thousand for the six months ended September 30, 2023, compared to a decrease of HKD 6,057 thousand in the same period of 2022[45]. Administrative and Operational Expenses - The group's administrative expenses decreased by approximately 7.6% to about HKD 11.5 million from approximately HKD 12.5 million for the six months ended September 30, 2022, primarily due to a reduction in service fees from Shanghai Yitameizhi Trading Co., Ltd.[118]. - Sales and marketing expenses decreased by approximately 12.9% from about HKD 18.0 million for the six months ended September 30, 2022, to approximately HKD 15.7 million, mainly due to reduced employee salaries[89]. Sustainability Initiatives - The group has planted over 100,000 trees as part of its commitment to sustainability and achieving carbon neutrality[100].
齐家控股(08395) - 2024 - 中期财报