Financial Performance - Revenue for the six months ended September 30, 2021, was HK$102,974,000, an increase of 14% compared to HK$90,386,000 for the same period in 2020[7] - Gross profit for the period was HK$64,151,000, representing a gross margin of approximately 62.3%, up from HK$44,431,000 in the previous year[7] - Loss for the period was HK$15,401,000, an improvement from a loss of HK$17,488,000 in the same period last year[10] - Total comprehensive income for the period was HK$17,956,000, compared to HK$14,432,000 in the previous year, indicating a decline due to exchange differences[10] - The company reported a basic and diluted loss per share of 8.9 cents, compared to 10.0 cents in the prior year[7] - Other net income increased significantly to HK$172,000 from HK$15,110,000 in the previous year, reflecting improved operational efficiency[7] - Distribution costs rose to HK$49,592,000, up from HK$42,102,000, indicating increased investment in sales and marketing[7] - Administrative expenses decreased to HK$26,805,000 from HK$30,222,000, showing cost control measures were effective[7] - The company experienced a net gain on disposal of investment properties of HK$30,000, contributing positively to the financial results[7] - The Group's consolidated loss before taxation for the six months ended September 30, 2021, was $15,640,000, slightly improved from a loss of $16,775,000 in the same period of 2020[60] Assets and Liabilities - Non-current assets decreased from HK$ 455,191,000 to HK$ 370,927,000, a decline of approximately 18.5%[14] - Current assets increased from HK$ 235,471,000 to HK$ 291,859,000, representing a growth of about 23.9%[14] - Total equity attributable to equity shareholders decreased from HK$ 538,886,000 to HK$ 504,766,000, a decline of about 6.3%[17] - The total assets less current liabilities decreased from HK$ 594,281,000 to HK$ 548,735,000, a decline of approximately 7.7%[14] - The net current assets increased from HK$ 139,090,000 to HK$ 177,808,000, representing a growth of about 27.8%[14] - Reportable segment assets as of September 30, 2021, totaled $866.223 million, a slight decrease from $884.297 million as of March 31, 2021[53] - The Group's reportable segment liabilities were $493.726 million as of September 30, 2021, compared to $490.194 million as of March 31, 2021, reflecting a marginal increase[55] Cash Flow and Investments - Cash generated from operations was HK$ 2,148,000, down from HK$ 10,804,000, a decrease of about 80.2%[20] - Net cash generated from investing activities was HK$ 48,728,000, a significant increase compared to HK$ 2,787,000 in the previous period[20] - The Group's cash flow statement showed cash and cash equivalents of $149,089,000 for the period, an increase from $133,559,000 in the previous period[87] - Cash and cash equivalents rose from HK$ 142,423,000 to HK$ 157,118,000, an increase of approximately 10.3%[14] - The Group recognized additions to right-of-use assets of $12,785,000 during the six months ended 30 September 2021, an increase from $4,582,000 in 2020[76] - The cost of acquisitions of other property, plant, and equipment during the period was $2,842,000, significantly higher than $246,000 in 2020[76] Revenue Segments - Revenue from external customers in the sales of garments segment was $74.862 million, up 17.5% from $63.724 million in the prior year[40] - The licensing of trademarks segment generated revenue of $10.935 million, an increase of 12% from $9.769 million in the previous year[44] - The printing and related services segment reported revenue of $16.535 million, up from $15.616 million, showing a growth of 5.9%[44] - The property rental segment's revenue decreased to $4.061 million from $4.651 million, a decline of 12.6%[44] - For the twelve months ended September 30, 2021, the garments division reported segment revenue of $171,540,000, an increase from $159,741,000 for the same period in 2020, representing a growth of approximately 1.0%[61] Dividends and Shareholder Returns - The company paid dividends of HK$ 16,586,000 during the period, reflecting a commitment to return value to shareholders[17] - An interim dividend of 10.0 cents per ordinary share was declared, amounting to $16,586,000, compared to no dividend in the previous year[69] Management and Governance - The Company has complied with the Code on Corporate Governance Practices throughout the six months ended 30 September 2021, except for non-executive directors not being appointed for a specific term[146] - The Company has adopted a Securities Dealing Code for directors' transactions that meets the standards set out in the Model Code for Securities Transactions by Directors of Listed Issuers[149] - All Directors have confirmed compliance with the required standards of the Model Code and the Securities Dealing Code throughout the review period[149] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming periods to drive future growth[10] - The average sales in the garments division are expected to perform better in the second half of the year due to increased demand during the holiday season[61] - The management anticipates a challenging operating environment in the second half of the year due to the pandemic and uncertainties in US-China relations[122] - The Group aims to expand its Ashworth operation in Mainland China, although expansion has been slower than expected due to travel restrictions[120]
YGM TRADING(00375) - 2022 - 中期财报