Financial Performance - Revenue for the six months ended September 30, 2019, was HK$76,831,000, an increase of 7.4% from HK$71,453,000 in the same period of 2018[8] - Gross profit for the period was HK$7,882,000, representing a 43.1% increase compared to HK$5,510,000 in 2018[8] - Profit/(loss) for the period was a loss of HK$2,126,000, a significant decline from a profit of HK$197,488,000 in the previous year[10] - Total comprehensive loss for the period was HK$18,643,000, compared to a total comprehensive income of HK$173,867,000 in the same period of 2018[10] - The company reported a basic and diluted loss per share of HK$0.83, compared to earnings per share of HK$76.06 in the previous year[8] - The company reported a loss before tax of HK$2,126,000 for the six months ended September 30, 2019, compared to a profit of HK$197,327,000 in the same period of 2018[26] - The total comprehensive loss for the period was HK$18,677,000, compared to a total comprehensive income of HK$197,448,000 in the previous year[26] - Profit attributable to ordinary equity holders of the Company was a loss of HK$2,160,000 for the six months ended 30 September 2019, compared to a profit in the previous year[100] Assets and Liabilities - Non-current assets totaled HK$464,918,000 as of September 30, 2019, slightly down from HK$466,876,000 as of March 31, 2019[15] - Current assets decreased to HK$218,922,000 from HK$237,503,000 as of March 31, 2019, primarily due to a reduction in inventories[15] - Current liabilities decreased to HK$38,808,000 from HK$52,712,000, indicating improved liquidity management[15] - Total non-current liabilities increased to HK$17,229,000 as of September 30, 2019, compared to HK$235,000 on March 31, 2019[18] - Net assets decreased to HK$627,803,000 from HK$651,432,000 over the same period[18] - Total equity attributable to equity holders of the Company decreased to HK$624,773,000 from HK$648,342,000[18] - Total liabilities increased to HK$56,037,000 from HK$52,947,000, indicating a rise of 5.2%[81] Cash Flow - Cash flows from operating activities showed a net inflow of HK$1,398,000, contrasting with a net outflow of HK$32,609,000 in the previous year[26] - Cash and cash equivalents were HK$167,716,000, down from HK$175,590,000 as of March 31, 2019[15] - Cash and cash equivalents at the end of the period were HK$167,716,000, down from HK$185,861,000 a year earlier[26] - The Group held cash and cash equivalents of HK$167,716,000 as of 30 September 2019, with no significant changes in contingent liabilities[154] Segment Information - The Group's operating segments include a trading segment focused on frozen meats, seafood, and vegetables, and an "others" segment encompassing restaurant operations and marketing of meat products[68] - Segment revenue for the six months ended September 30, 2019, was HK$76,831,000, an increase of 7.5% from HK$71,453,000 in 2018[81] - Sales of goods contributed HK$68,785,000 to the total revenue, up from HK$65,412,000, reflecting a growth of 3.6%[85] - The segment results showed a loss of HK$5,473,000 for the trading segment, compared to a loss of HK$3,991,000 in 2018[81] Accounting Policies and Standards - The Group adopted HKFRS 16 for leases, which requires all leases to be accounted for under a single on-balance sheet model starting from April 1, 2019[36] - The financial impact of adopting new and revised HKFRSs in the current period has had no material effect on the amounts reported in the interim financial statements[38] - The Group's accounting policies for the preparation of interim financial statements are consistent with those used in the annual financial statements for the year ended March 31, 2019[29] - The Group has adopted several new and revised HKFRSs effective from April 1, 2019, which include amendments to HKFRS 9 and HKFRS 16[31] Lease Liabilities and Right-of-Use Assets - Lease liabilities recognized at April 1, 2019, were based on the present value of remaining lease payments, discounted using the incremental borrowing rate[46] - The right-of-use assets were recognized based on the carrying amount as if HKFRS 16 had always been applied, with assessments for impairment conducted on that date[47] - The Group's right-of-use assets as of September 30, 2019, amounted to HK$21,125,000, down from HK$23,932,000 as of April 1, 2019, reflecting a depreciation of HK$2,726,000 during the period[71] - Lease liabilities decreased to HK$22,085,000 as of September 30, 2019, from HK$24,748,000 as of April 1, 2019, after accounting for lease payments of HK$2,947,000[71] Shareholder Information - Director Tai Tak Fung, Stephen held 90,739,177 shares, representing approximately 34.95% of the Company's total issued shares[161] - Careful Guide Limited, owned by Tai Tak Fung, Stephen, held 30,914,000 shares, approximately 11.91% of the Company's total issued shares[164] - Special Access Limited, also owned by Tai Tak Fung, Stephen, held 52,907,250 shares, approximately 20.38% of the Company's total issued shares[164] - The total interests of Tai Tak Fung, Stephen in the associated corporation FSMHL included 70,000,000 shares, approximately 18.22% of FSMHL's total issued shares[171] Employee Information - As of September 30, 2019, the Group had a total of 46 employees, with remuneration packages generally structured based on market terms and individual qualifications[156]
香港食品投资(00060) - 2020 - 中期财报