Financial Performance - Revenue for the six months ended September 30, 2022, was HK$25,190,000, a decrease of 22.9% compared to HK$32,644,000 for the same period in 2021[9]. - Gross profit for the six months was HK$2,623,000, down 55.7% from HK$5,924,000 in the previous year[9]. - Loss before tax for the six months was HK$11,959,000, compared to a loss of HK$6,839,000 for the same period in 2021, representing a 75.5% increase in losses[11]. - Loss attributable to owners of the Company for the period was HK$11,959,000, compared to HK$6,839,000 in the previous year, indicating a significant increase in losses[11]. - Basic and diluted loss per share for the six months was HK$0.08, compared to HK$0.04 for the same period in 2021[11]. - The Company reported a total comprehensive loss for the period attributable to owners of the Company of HK$11,806,000, compared to HK$6,840,000 in the previous year[11]. - The Group recorded a loss for the period of approximately HK$12.0 million, an increase from HK$6.8 million in the same period last year[147]. - The increase in loss was attributed to a decrease in gross profit of approximately HK$3.3 million and an increase in project management fees of approximately HK$1.1 million[148]. Revenue Breakdown - The Group's revenue includes income from design, fitting out, engineering, rental services, sale of fine wines, and interest income from money lending[42]. - For the three months ended September 30, 2022, revenue from design, fitting out, and engineering services increased to HK$10,920,000, up 24.3% from HK$8,788,000 in the same period of 2021[45]. - Revenue from leasing of construction equipment for the six months ended September 30, 2022, was HK$3,901,000, down 43.0% from HK$6,852,000 in the same period of 2021[49]. - Revenue from the sale of fine and rare wines significantly decreased to HK$283,000 for the six months ended September 30, 2022, from HK$7,979,000 in the same period of 2021, representing a decline of 96.5%[49]. - The financial services segment generated revenue of HK$296,000 for the six months ended September 30, 2022, compared to HK$279,000 in the same period of 2021, indicating a slight increase[51]. - Revenue from design, fitting out and engineering services increased by approximately 18% to HK$20.7 million, up from HK$17.5 million in the previous year[134]. - The leasing of construction equipment business generated revenue of approximately HK$3.9 million, a decrease of approximately HK$3 million from HK$6.9 million in the last corresponding period[134]. - Revenue from wine merchandising dropped significantly from approximately HK$8.0 million to approximately HK$0.3 million due to resource reallocation[135]. Expenses and Costs - Administrative expenses increased to HK$13,843,000 for the six months, up from HK$12,562,000 in the previous year, reflecting a rise of 10.2%[9]. - The cost of inventories sold for the six months ended 30 September 2022 was HK$5,026,000, down from HK$9,740,000 in 2021, showing a decrease of 48.3%[68]. - The total salaries, wages, and other benefits (excluding directors' emoluments) for the six months ended 30 September 2022 were HK$2,857,000, down from HK$3,138,000 in 2021, indicating a decrease of 8.9%[68]. - Central administrative costs for the six months ended September 30, 2022, were HK$3,927,000, slightly lower than HK$4,887,000 in the same period of 2021[49]. - Depreciation of property, plant, and equipment for the six months ended 30 September 2022 was approximately HK$3,371,000, a slight decrease from HK$3,470,000 in 2021, representing a reduction of 2.9%[69]. Assets and Liabilities - As of September 30, 2022, total assets less current liabilities amounted to HK$74,021,000, a decrease from HK$82,320,000 as of March 31, 2022, reflecting a decline of approximately 10.5%[14]. - The net current assets as of September 30, 2022, were HK$12,609,000, down from HK$14,024,000 as of March 31, 2022, indicating a decrease of about 10.1%[14]. - The company’s total equity as of September 30, 2022, was HK$60,604,000, down from HK$72,410,000 as of March 31, 2022, indicating a decrease of approximately 16.3%[16]. - Total assets as of September 30, 2022, amounted to HK$91,328,000, a decrease from HK$102,214,000 as of March 31, 2022[55]. - Current assets as of September 30, 2022, were HK$22,413,000, compared to HK$26,644,000 for the same period in 2021, reflecting a decline of approximately 16.5%[61]. - Total liabilities as of September 30, 2022, were HK$30,724,000, slightly increased from HK$29,804,000 as of March 31, 2022[55]. - Non-current assets as of September 30, 2022, totaled HK$29,474,000, a decrease from HK$35,446,000 as of March 31, 2022[55]. - Current liabilities as of September 30, 2022, were HK$9,228,000, compared to HK$12,384,000 for the same period in 2021, indicating a decrease of approximately 25.5%[55]. Cash Flow and Financing - Cash and cash equivalents at the end of the period were HK$6,394,000, a decrease from HK$9,013,000 at the end of the same period in 2021, reflecting a decline of about 29.1%[22]. - The net cash used in operating activities for the six months ended September 30, 2022, was HK$2,534,000, an improvement compared to HK$3,228,000 for the same period in 2021[22]. - The Group's cash flow from financing activities for the six months ended September 30, 2022, was HK$2,311,000, a significant improvement from a cash outflow of HK$3,838,000 for the same period in 2021[22]. - The Group's borrowings included lease liabilities of approximately HK$13.0 million and interest-bearing borrowings of HK$5 million as of September 30, 2022[188]. - The gearing ratio was approximately 29.7% as of September 30, 2022, an increase from 14.5% on March 31, 2021, primarily due to increased interest-bearing borrowings[188]. Risk Management and Compliance - The Company has acknowledged the potential risks associated with investing in small and mid-sized companies listed on GEM, which may experience higher market volatility[2]. - The report confirms that the information provided is accurate and complete in all material respects, with no misleading or deceptive statements[5]. - The Group's financial statements are based on historical cost, except for investment properties measured at fair value[30]. - The Group has complied with the Companies Ordinance requirements for financial statement disclosures[31]. - The Group is assessing the impact of new/revised HKFRSs that are not yet effective, with management believing they will not significantly affect future financial statements[38][40]. Dividends and Share Capital - The Directors did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[82]. - The total number of issued ordinary shares remained at 156,780,000 as of September 30, 2022[119].
中新控股(08125) - 2023 - 中期财报