Financial Performance - Revenue for the six months ended September 30, 2021, was HK$2,353,839,000, representing an increase of 7.7% compared to HK$2,185,079,000 for the same period in 2020[5]. - Gross profit for the period was HK$487,165,000, slightly down by 0.3% from HK$489,728,000 in the previous year[5]. - Profit for the period decreased to HK$23,435,000, a decline of 25.0% from HK$31,180,000 in the prior year[5]. - Earnings per share attributable to ordinary equity holders was HK4.0 cents, down from HK7.8 cents in the previous year, reflecting a decrease of 48.7%[5]. - Total comprehensive income for the period was HK$37,961,000, down 43.7% from HK$67,414,000 in the same period last year[8]. - Profit before tax for the six months ended 30 September 2021 was HK$36,018,000, a decrease of 16.5% compared to HK$42,883,000 in 2020[19]. - Net cash flows from operating activities amounted to HK$121,054,000, down from HK$141,702,000 in the previous year, reflecting a decline of 14.6%[19]. - Total cash generated from operations was HK$132,039,000, compared to HK$151,952,000 in 2020, indicating a decrease of 13.1%[19]. - Other income and gains for the six months ended September 30, 2021, totaled HK$19,166,000, compared to HK$15,807,000 in 2020, representing a 21.5% increase[63]. - Finance costs for the six months ended September 30, 2021, were HK$12,426,000, a decrease from HK$14,519,000 in 2020[66]. - Total tax charge for the period increased to HK$12,583,000 in 2021 from HK$11,703,000 in 2020, representing a growth of 7.5%[75]. - Profit attributable to ordinary equity holders decreased to HK$15,376,000 in 2021 from HK$30,016,000 in 2020, a decline of 48.7%[88]. Assets and Liabilities - Non-current assets totaled HK$1,482,194,000 as of September 30, 2021, a decrease from HK$1,544,803,000 as of March 31, 2021[10]. - Current assets increased to HK$2,109,213,000 from HK$2,016,036,000, indicating a growth of 4.6%[10]. - Total current liabilities increased to HK$1,795,282,000 as of September 30, 2021, compared to HK$1,708,413,000 on March 31, 2021, reflecting a rise of approximately 5.1%[12]. - Total non-current liabilities decreased to HK$405,958,000 as of September 30, 2021, down from HK$474,643,000 on March 31, 2021, indicating a reduction of about 14.5%[12]. - Net assets increased to HK$1,390,167,000 as of September 30, 2021, compared to HK$1,377,783,000 on March 31, 2021, marking a growth of approximately 0.9%[12]. - The total liabilities of the company stood at HK$2,201,240,000, with segment liabilities from Hong Kong, Mainland China, and Japan being HK$553,004,000, HK$355,559,000, and HK$392,805,000 respectively[49]. Cash Flow and Financing - Cash and cash equivalents amounted to HK$638,708,000, compared to HK$577,227,000, showing an increase of 10.6%[10]. - New bank and trust receipt loans totaled HK$579,904,000, while repayments amounted to HK$509,332,000, resulting in a net cash inflow from financing activities[20]. - Cash and cash equivalents at the end of the period were HK$638,708,000, down from HK$717,807,000 in the previous year, representing a decrease of 11%[20]. - The Group's banking facilities totaled HK$2,858,582,000, with 43% utilized as of September 30, 2021[166]. - The gearing ratio was 89% as of September 30, 2021, indicating the total bank borrowings to equity attributable to equity holders[166]. Segment Performance - Sales to external customers in Hong Kong amounted to HK$921,312,000, while Mainland China and Japan contributed HK$474,068,000 and HK$958,459,000 respectively, indicating strong performance across all regions[41]. - Segment results showed a profit before tax of HK$36,018,000, compared to HK$42,883,000 in the previous period, reflecting a decrease of approximately 16.5%[41]. - Total segment assets were reported at HK$3,071,110,000, with Hong Kong contributing HK$1,358,718,000, Mainland China HK$1,035,781,000, and Japan HK$676,611,000[49]. - Sales from the Hong Kong segment amounted to HK$921,312,000, accounting for 39% of total sales, slightly up from HK$919,113,000 in 2020[128]. - Sales in Mainland China reached HK$474,068,000, representing a 8.7% increase from HK$436,184,000 in 2020, accounting for 20% of total sales[128]. - Sales in Japan increased to HK$958,459,000, up from HK$829,782,000 in 2020, marking a growth of approximately 15.5%[128]. Operational Highlights - The Group's operating segments include Hong Kong, Mainland China, and Japan, focusing on the manufacturing and trading of snack foods, confectionery, and beverages[38]. - The Group's management monitors the results of the operating segments separately for resource allocation and performance assessment[38]. - The Group successfully consolidated Miyata Co., Ltd., enhancing product exports to Hong Kong and Mainland China, and expanded its product offerings to include Japanese eggs, rice, and tofu[133]. - The introduction of new products such as Japanese eggs, rice, and tofu was well received in the market, contributing to the Group's business growth and profitability[133]. - The Group aims to continue identifying renowned brands and introducing exceptional new products to consumers[138]. - The Group has achieved numerous international certifications including "HACCP", "ISO 9001", "ISO 22000", and "GMP", ensuring high standards in food safety and quality[142][144]. Shareholder Information - As of September 30, 2021, Tai Tak Fung, Stephen holds 259,478,000 ordinary shares, representing approximately 67.52% of the Company's total issued shares[190]. - Wu Mei Yung, Quinly also holds 259,478,000 ordinary shares, representing approximately 67.52% of the Company's total issued shares, through interests of spouse and controlled corporations[190]. - Careful Guide Limited, wholly owned by Tai Tak Fung, holds 70,000,000 shares, approximately 18.22% of the Company's total issued shares[190]. - Special Access Limited, wholly owned by Tai Tak Fung and Wu Mei Yung, holds 74,250,000 shares, approximately 19.32% of the Company's total issued shares[195]. - Capital Season Investments Limited, wholly owned by Advance Finance Investments Limited, holds 115,228,000 shares, approximately 29.98% of the Company's total issued shares[195]. - As of September 30, 2021, no other directors or chief executives had interests or short positions in the shares of the Company or any associated corporation[197].
四洲集团(00374) - 2022 - 中期财报