Financial Performance - For the six months ended September 30, 2021, the group recorded total revenue of HKD 396.7 million, an increase of HKD 115.3 million or 41.0% compared to HKD 281.4 million in the same period last year[9]. - The unaudited consolidated profit attributable to the company's owners reached HKD 36.2 million, compared to HKD 15.3 million in the same period last year, reflecting significant profit growth due to improved consumer confidence as the COVID-19 situation stabilized in Hong Kong[9]. - Retail business revenue increased by HKD 114.3 million or 40.7% to HKD 395.3 million, surpassing pre-COVID-19 levels, with same-store sales growing by 40.4% year-on-year[10]. - Revenue for the six months ended September 30, 2021, was HKD 396,678,000, a 41% increase from HKD 281,390,000 for the same period in 2020[56]. - Gross profit for the same period was HKD 115,321,000, compared to HKD 82,743,000 in 2020, reflecting a gross margin improvement[56]. - Operating profit increased to HKD 39,155,000, up from HKD 18,700,000, representing a growth of 109%[56]. - Profit before tax reached HKD 36,190,000, significantly higher than HKD 15,264,000 in the previous year, marking a 137% increase[56]. - Total comprehensive income for the period was HKD 35,999,000, up from HKD 13,864,000, reflecting a growth of 159%[56]. - The company reported a profit attributable to owners of HKD 36,188,000 for the six months ended September 30, 2021, compared to HKD 15,263,000 for the same period in 2020, representing a year-over-year increase of 137.5%[104]. Revenue Breakdown - Revenue from gold jewelry, jewelry, watches, and gifts retail was HKD 374,779,000, up 46% from HKD 256,377,000 in the previous year[86]. - Revenue from bullion trading decreased to HKD 20,518,000 from HKD 24,609,000, a decline of 16%[86]. - Revenue from diamond wholesale increased to HKD 1,381,000 from HKD 404,000, representing a growth of 242%[86]. Capital Expenditure and Investments - Capital expenditure during the period amounted to approximately HKD 1.8 million, primarily for property renovations, furniture, and equipment[19]. - The company recognized a right-of-use asset addition of HKD 8,712,000 for the six months ended September 30, 2021, compared to none in the same period of 2020[113]. - Capital expenditures for the six months ended September 30, 2021, amounted to approximately HKD 1,846,000, significantly higher than HKD 330,000 for the same period in 2020[109]. - The capital commitments as of September 30, 2021, were HKD 2,395,000 for the purchase of properties, machinery, and equipment, an increase from HKD 650,000 as of March 31, 2021[170]. Assets and Liabilities - As of September 30, 2021, the group's current assets and current liabilities were approximately HKD 764.9 million and HKD 138.7 million, respectively, with cash and cash equivalents totaling approximately HKD 212.3 million[14]. - The total borrowings of the group were approximately HKD 37.8 million, resulting in a healthy debt-to-equity ratio of 5.5%[16]. - Total assets amounted to HKD 764,915,000, compared to HKD 729,061,000 as of March 31, 2021, indicating a growth of 5%[59]. - The company reported a net asset value of HKD 687,337,000, up from HKD 660,639,000, representing a 4% increase[59]. - Trade payables amounted to HKD 49,992,000 as of September 30, 2021, compared to HKD 35,310,000 as of March 31, 2021, reflecting a significant increase[139]. Cash Flow - The net cash generated from operating activities was HKD 88,027,000, up from HKD 76,106,000 in the previous year, indicating a growth of 15.3%[66]. - Cash and cash equivalents at the end of the period totaled HKD 212,345,000, compared to HKD 241,465,000 at the end of the previous period, reflecting a decrease of 12.1%[66]. - The cash outflow from investing activities was HKD 62,606,000, significantly higher than the inflow of HKD 1,184,000 in the same period last year[66]. - The company reported a net cash outflow from financing activities of HKD 22,331,000, compared to HKD 30,175,000 in the previous year, showing an improvement of 26.1%[66]. Shareholder Information - The company repurchased a total of 550,000 ordinary shares at a total cost of HKD 177,000 between April 1, 2021, and April 22, 2021[36]. - As of September 30, 2021, the company had 911,658,465 ordinary shares issued, with major shareholders holding over 5% of the issued share capital[32]. - The beneficial ownership of the company includes 541,688,415 shares, with an additional 12,936,042 shares held as corporate interests[33]. - The company declared a final dividend of HKD 0.01 per share for the year 2021, compared to HKD 0.002 per share in 2020, reflecting a 400% increase[100]. Corporate Governance - The company has complied with all provisions of the corporate governance code during the six months ending September 30, 2021, except for the absence of a nomination committee[40]. - The company’s auditor has issued an unqualified opinion on the financial statements for the year ending March 31, 2021[46]. - The company’s management has reviewed the accounting policies and practices, risk management systems, and internal controls for the six months ending September 30, 2021[45]. - The company’s board believes that all directors should participate in fulfilling the responsibilities outlined in the corporate governance code[40]. Accounting Standards - The company’s financial statements are prepared in accordance with Hong Kong Accounting Standards, specifically HKAS 34 for interim financial reporting[52]. - The financial statements are prepared in accordance with Hong Kong Accounting Standards and are unaudited, but have been reviewed by an independent auditor[72]. - The company has adopted new or revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the interim financial statements[75]. - The company expects the adoption of new or revised Hong Kong Financial Reporting Standards will not have a significant impact on the interim financial statements[81].
景福集团(00280) - 2022 - 中期财报