Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 725.7 million, a decrease of 26.0% from HKD 978.4 million in the same period of 2018[10]. - The profit attributable to owners of the company for the six months was HKD 52.3 million, down 13.9% from HKD 60.7 million in the previous year[3]. - The adjusted profit before tax for the group was HKD 50.7 million, down from HKD 60.5 million in the previous year, indicating a decrease of about 16.1%[53]. - The group reported a total loss of HKD 16.7 million across its operating segments, with the semiconductor distribution segment showing a loss of HKD 0.5 million[50]. - The company reported a profit of HKD 50.6 million for the period, compared to HKD 60.3 million in the previous year, representing a decrease of 11.5%[105]. Revenue Breakdown - Total revenue for the six months ended September 30, 2019, was HKD 726.8 million, a decrease from HKD 978.4 million in the same period last year, representing a decline of approximately 25.6%[50]. - Semiconductor distribution segment generated revenue of HKD 677.2 million, accounting for 93.2% of total revenue, while the consumer electronics segment contributed HKD 46.8 million[50]. - Semiconductor distribution revenue for the six months ended September 30, 2019, was HKD 677,230, a decrease of 27% compared to HKD 926,621 for the same period in 2018[59]. - The consumer electronics and brand omnichannel business generated revenue of HKD 46.8 million, slightly down from HKD 47.4 million in 2018[114]. - The internet social media business reported revenue of HKD 1.7 million, a decline from HKD 4.4 million in 2018[118]. Assets and Liabilities - Total assets as of September 30, 2019, increased to HKD 1,338.0 million from HKD 1,317.0 million as of March 31, 2019[7]. - The total liabilities as of September 30, 2019, were HKD 192,394, a slight decrease from HKD 201,425 as of March 31, 2019[59]. - The total equity increased to HKD 1,145.6 million from HKD 1,115.6 million, reflecting a growth of 2.7%[7]. - The debt-to-equity ratio improved to 6% from 7% in the previous period[7]. - Non-current liabilities decreased to HKD 16,145 from HKD 16,877, a reduction of about 4.3%[20]. Cash Flow and Investments - The company reported a net cash flow from operating activities of HKD 16,039, a significant improvement from a net outflow of HKD 142,167 in the previous period[27]. - The company received dividends from a joint venture amounting to HKD 34,965, consistent with the previous period[27]. - The investment in joint ventures as of September 30, 2019, was HKD 768,817, reflecting the company's strategic focus on partnerships[59]. - The company incurred a loss of HKD 21,196 from the purchase of financial assets measured at fair value through profit or loss, compared to a loss of HKD 136,078 in the prior period[27]. - The total value of financial assets measured at fair value through profit or loss decreased from HKD 140,758,000 as of March 31, 2019, to HKD 123,278,000 as of September 30, 2019, indicating a decline of approximately 12.5%[76]. Shareholder Information - The company declared a final dividend of HKD 0.02 per share for the year ended March 31, 2019, totaling HKD 18,173,000, consistent with the previous year[72]. - The board did not recommend any interim dividend for the six months ended September 30, 2019, consistent with the previous year[136]. - As of September 30, 2019, Dr. Su Yu-Jun holds 317,599,826 shares, representing approximately 40.68% of the issued shares[139]. - Dr. Lu Ming-Hua holds 2,620,000 shares, representing approximately 0.29% of the issued shares[140]. - B.K.S. Company Limited holds 220,831,960 shares, representing approximately 24.30% of the issued shares[147]. Corporate Governance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by Dr. Su Yu-Jun[151]. - The company has adopted the standard code for securities transactions and confirmed compliance by all directors during the reporting period[152]. - The board consists of three executive directors and three independent non-executive directors as of the report date[154]. - The company reviewed its accounting principles and financial reporting procedures with the audit committee[155]. - The financial statements for the six months ending September 30, 2019, were discussed and reviewed[155]. Market Environment - The company’s operating environment remains challenging due to geopolitical risks and global economic slowdown, impacting trade and manufacturing activities[107]. - The global smartphone market is expected to decline by 2.2% in 2019, with a further contraction of 0.4% in the second half of the year[109]. - The expectation is that 5G smartphones will account for 8.9% of total shipments in 2020, rising to 28.1% by 2023, bringing new hope to the smartphone market[113]. - E-commerce in Southeast Asia has seen a compound annual growth rate of over 62% in the past three years, with total gross merchandise value projected to exceed USD 100 billion by 2025[114]. - The group plans to invest more resources in markets outside of China, including Singapore and India, to expand its market share in the semiconductor distribution business[125].
AV CONCEPT HOLD(00595) - 2020 - 中期财报