Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 58,587, a decrease of 23.4% compared to HKD 76,480 for the same period in 2019[8]. - The company reported a net loss of HKD 1,892 for the period, resulting in a basic and diluted loss per share of HKD 0.84[8]. - The group recorded a loss attributable to owners of approximately HKD 1.9 million for the six months ended September 30, 2020, a significant decrease of about HKD 4.2 million compared to a profit of HKD 2.3 million for the same period in 2019[120]. - The group’s gross profit for the six months ended September 30, 2020, was approximately HKD 40.8 million, a decrease of about 23.6% compared to HKD 53.4 million for the same period in 2019, primarily due to a reduction in revenue[114]. - Retail sales accounted for HKD 50,973,000, a decline of 21% compared to HKD 64,396,000 in 2019[28]. - Revenue from the product category of tiles was HKD 53,155,000, down 28.1% from HKD 74,084,000 in the previous year[28]. Assets and Liabilities - Total assets as of September 30, 2020, were HKD 200,960, down from HKD 210,098 as of March 31, 2020[11]. - Current liabilities decreased to HKD 156,937 from HKD 185,037, improving the net current asset position to HKD 44,023[11]. - The total non-current assets in Hong Kong as of September 30, 2020, were valued at HKD 60,229,000, down from HKD 88,340,000 as of March 31, 2020[36]. - The company’s bank borrowings totaled HKD 59.6 million as of September 30, 2020, down from HKD 99.3 million as of March 31, 2020[95]. - The total trade payables were reported at HKD 16,340,000, a decrease from HKD 17,827,000, indicating a reduction of approximately 8.3%[88]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended September 30, 2020, was HKD 50,220,000, an increase of 39% compared to HKD 36,156,000 in 2019[15]. - The company reported a net increase in cash and cash equivalents of HKD 4,177,000, compared to a decrease of HKD 10,207,000 in the same period last year[15]. - Financing costs decreased to HKD 4,311 from HKD 5,404, indicating improved financial management[8]. - Financing costs for the six months ended September 30, 2020, totaled HKD 4,311,000, a decrease of 20.2% from HKD 5,404,000 in 2019[37]. Employee and Operational Costs - Employee costs decreased to HKD 17,789 from HKD 23,100, reflecting a reduction in workforce expenses[8]. - Total employee benefits expenses, including director remuneration, decreased slightly to HKD 10,619,000 from HKD 10,714,000 year-on-year, a reduction of approximately 0.9%[10]. - Employee costs for the six months ended September 30, 2020, were approximately HKD 10.6 million, remaining stable compared to HKD 10.7 million for the same period in 2019[115]. - The company incurred rental expenses of HKD 8.58 million from related parties for the six months ended September 30, 2020, unchanged from the same period in 2019[106]. Corporate Governance - The company has adopted and complied with all provisions of the Corporate Governance Code, except for the separation of the roles of Chairman and CEO, which is currently held by the same individual[165]. - The audit committee consists of three independent non-executive directors who review the group's financial information and oversee the relationship with external auditors[171]. - The company is committed to high standards of corporate governance to protect shareholder interests[165]. - There are no significant contracts involving directors or controlling shareholders that could create conflicts of interest with the group's business as of September 30, 2020[163]. Future Plans and Market Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[8]. - The group maintains a cautious outlook due to ongoing challenges from COVID-19, focusing on effective cost control and monitoring market conditions[135]. - The board will continuously review business objectives and may adjust plans based on market conditions to ensure ongoing business growth[135]. - The company plans to allocate approximately HKD 45 million for property investments in Hong Kong, with expectations to fully utilize these funds by the end of 2021[139]. Shareholder Information - As of September 30, 2020, RB Power Limited holds 150,000,000 shares, representing 62.5% of the company's issued share capital[159]. - RB Management, a wholly owned subsidiary of RB Power, also holds 150,000,000 shares, equating to 62.5% of the company's issued share capital[159]. - No dividends were recommended for the six months ending September 30, 2020, consistent with the previous year[134].
MOS HOUSE(01653) - 2021 - 中期财报