Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 400,152, a decrease of 32.2% compared to HKD 589,759 in 2020[2] - Gross loss for the period was HKD 5,458, improved from a gross loss of HKD 33,587 in the previous year[2] - Operating loss for the six months was HKD 171,864, compared to a loss of HKD 158,254 in the same period last year[2] - Net loss attributable to shareholders was HKD 171,858, compared to HKD 158,031 in 2020, representing an increase of 8.5%[2] - Basic and diluted loss per share was HKD 23.7, compared to HKD 21.9 in the previous year[2] - For the six months ended September 30, 2021, the total revenue was HKD 400,152,000, a decrease of 32.2% compared to HKD 589,759,000 for the same period in 2020[24] - The group reported a loss attributable to shareholders of HKD 171,858,000 for the six months ended September 30, 2021, compared to a loss of HKD 158,031,000 in the same period of 2020[31] - Basic loss per share was HKD 0.237 for the six months ended September 30, 2021, compared to HKD 0.219 for the same period in 2020[33] - For the six months ended September 30, 2021, the group recorded revenue of HKD 400 million, a decrease of 32% compared to HKD 590 million in 2020, and a shareholder loss of HKD 172 million, compared to a loss of HKD 158 million in 2020 after accounting for a one-time gain of HKD 26 million from property sales[62][63] Cash Flow and Liquidity - Cash and cash equivalents at the end of the period were HKD 31,848, down from HKD 98,149 at the beginning of the period[13] - Net cash used in operating activities was HKD 122,134, an improvement from HKD 188,930 in the previous year[13] - The group has taken measures to alleviate liquidity pressure and improve financial conditions in response to the potential impacts of COVID-19[18] - The group has a funding commitment from its major shareholder, Mr. Leung, to provide up to HKD 300,000,000 within 18 months from June 25, 2021[18] Assets and Liabilities - Total assets decreased to HKD 997,325 from HKD 1,088,058 at the end of March 2021[5] - Total liabilities as of September 30, 2021, were HKD 403,408,000, compared to HKD 404,903,000 as of March 31, 2021[44] - As of September 30, 2021, total receivables amounted to HKD 378,367,000, a slight decrease from HKD 384,843,000 as of March 31, 2021[38] - The aging analysis of trade receivables shows that overdue amounts over 90 days increased significantly to HKD 167,424,000 from HKD 57,675,000[44] - The company’s bank borrowings secured by properties amounted to HKD 197,126,000 as of September 30, 2021, down from HKD 212,686,000[49] - Shareholder loans totaled HKD 342,582,000 as of September 30, 2021, with a fixed annual interest rate of 4.5%[55] - The company has a capital commitment of HKD 3,330,000 for molds, factories, and machinery as of September 30, 2021[58] Operational Highlights - Research and development expenses remained stable at HKD 34,432, compared to HKD 34,174 in the previous year[2] - Rental income for the six months ended September 30, 2021, was HKD 7,045,000, an increase from HKD 6,140,000 in the same period of 2020[25] - The group’s revenue from North America was HKD 291,698,000 for the six months ended September 30, 2021, compared to HKD 213,312,000 in the same period of 2020, reflecting a significant increase[24] - The group’s management is focused on improving profitability and cash flow through various initiatives, including cost reduction in production processes[19] - The group plans to continue investing in the development and promotion of a wider variety of laptops to capture new price points and markets, responding to the ongoing demand for remote work and learning[69] - The group is developing an all-in-one computer, with plans to launch its first series of products by the end of Q1 2022[69] - The group has invested significantly in automation and robotics at its production facility in Dongguan, China, enhancing its ability to meet diverse customer demands[67] - The group has received numerous inquiries regarding LTE-enabled devices for markets with limited WiFi access, indicating a strategic focus on emerging consumer needs[69] Shareholder Information - As of September 30, 2021, Mr. Liang Wei Cheng holds 76,706,986 shares, representing 10.61% of the company's issued share capital[76] - Major shareholder Mr. Liang Jian Wen (deceased) held 267,812,500 shares, accounting for 37.03% of the company's issued share capital[80] - Shundean Investments Limited, associated with Mr. Liang Jian Wen, also holds 267,812,500 shares, representing 37.03%[80] - Mr. Webb David Michael owns 75,344,884 shares, which is 10.42% of the issued share capital[80] - Mr. Liang Wei Li holds 60,676,464 shares, equating to 8.39% of the company's issued share capital[80] - Preferable Situation Assets Limited, associated with Mr. Webb David Michael, holds 48,080,841 shares, representing 6.65%[80] - The company and its subsidiaries did not purchase, sell, or redeem any shares during the six months ending September 30, 2021[83] Corporate Governance - The company did not declare any dividends for the period[2] - The company did not recommend any interim dividend for the six months ended September 30, 2021, consistent with the previous year[35] - The company has complied with all applicable corporate governance codes, except for the separation of the roles of Chairman and CEO[84] - The audit committee, composed of three independent non-executive directors, reviewed the financial statements for the six months ending September 30, 2021[86] - The interim report is available on the Hong Kong Stock Exchange and the company's website[87]
ALCO HOLD-NEW(00328) - 2022 - 中期财报