Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 76,211,000, representing a 30.1% increase from HKD 58,587,000 in the same period of 2020[9] - The net profit for the period was HKD 9,926,000, compared to a loss of HKD 1,892,000 in the previous year, indicating a significant turnaround[9] - Basic and diluted earnings per share for the period were HKD 4.14, compared to a loss per share of HKD 0.79 in the same period last year[9] - The group reported a profit before tax of HKD 12,390 million, compared to a loss of HKD (2,153) million in the previous year[36] - The group’s profit for the period was HKD 9,926 million, compared to a loss of HKD (1,892) million in the previous year[36] - The profit before tax for the six months ended September 30, 2021, was HKD 9,926,000, a significant recovery from a loss of HKD 1,892,000 in the same period of 2020[46] - The company's profit attributable to owners for the six months ended September 30, 2021, was approximately HKD 9.9 million, a significant increase of about HKD 11.8 million from a loss of HKD 1.9 million for the same period in 2020[83] Assets and Liabilities - Total assets as of September 30, 2021, were HKD 173,074,000, slightly down from HKD 173,679,000 as of March 31, 2021[11] - The total assets of the group as of September 30, 2021, were HKD 246,161 million, an increase from HKD 239,733 million as of March 31, 2021[37] - The company reported a net asset value of HKD 122,902,000, an increase from HKD 112,976,000 at the end of the previous reporting period[11] - The group’s cash and cash equivalents decreased to HKD 16,556 million from HKD 64,674 million in the previous year[26] - The group’s total bank deposits and cash as of September 30, 2021, amounted to approximately HKD 18.1 million, down from HKD 25.6 million as of March 31, 2021[84] - As of September 30, 2021, the group had bank borrowings of approximately HKD 33.9 million, with an asset-to-liability ratio of about 0.28 times[85] Inventory and Receivables - Inventory increased to HKD 95,030,000 from HKD 62,971,000, reflecting a 51.1% rise, indicating potential growth in sales[11] - Trade receivables decreased to HKD 32,145,000 from HKD 45,235,000, a decline of 29.0%, suggesting improved collection efforts[11] - The total trade receivables as of September 30, 2021, were HKD 32,145,000, down from HKD 45,235,000 as of March 31, 2021, indicating a decrease of 29%[56] - The aging analysis of trade receivables showed that HKD 9,562,000 was within 0 to 90 days, down from HKD 14,032,000 as of March 31, 2021, indicating a decrease in short-term receivables[57] Cash Flow - The net cash generated from operating activities was HKD 19,599 million, a decrease of 44.9% from HKD 35,313 million in 2020[26] - The net cash used in investing activities was HKD (31,210) million, compared to HKD (783) million in the previous year, indicating increased investment outflows[26] - The group’s financing activities generated net cash of HKD 2,683 million, a significant improvement from a net cash outflow of HKD (30,353) million in 2020[26] Revenue Breakdown - Sales of tiles amounted to HKD 60,116 million, up 13.7% from HKD 53,155 million in the previous year[27] - Revenue from external customers in Hong Kong and Macau for the six months ended September 30, 2021, was HKD 76,211,000, an increase from HKD 58,587,000 in the same period of 2020, representing a growth of 30.1%[40] - Sales of tiles and sanitary ware products generated revenue of approximately HKD 76.0 million, accounting for about 99.7% of total revenue for the six months ended September 30, 2021[76] - The gross profit for the six months ended September 30, 2021, was approximately HKD 51.0 million, an increase of about 25.0% from HKD 40.8 million for the same period in 2020[77] - The overall product profit margin decreased from approximately 69.6% for the six months ended September 30, 2020, to about 67.1% for the same period in 2021[77] Corporate Governance and Shareholder Information - The company is committed to high standards of corporate governance and has adopted all provisions of the corporate governance code[117] - The company has adopted a stock option plan since September 20, 2018, but no stock options have been granted as of the report date[122] - The audit committee consists of three independent non-executive directors who review the group's financial information and internal control procedures[123] - The interim financial statements have been reviewed by the audit committee[124] - As of September 30, 2021, major shareholders hold 62.5% of the issued share capital, amounting to 150 million shares[113] Strategic Plans and Investments - The company plans to continue expanding its market presence and investing in new product development to sustain growth[9] - The company completed the acquisition of Mason Holdings Limited for HKD 31.0 million on June 21, 2021, which has become a wholly-owned subsidiary[69] - The company acquired a subsidiary for HKD 31,000,000 during the six months ended September 30, 2021, reflecting ongoing investment activities[50] - The group completed the acquisition of a property holding company for HKD 31 million on June 21, 2021, to enhance its property investment in Hong Kong[89] - The net proceeds from the company's listing on October 19, 2018, amounted to approximately HKD 86.1 million, with plans to use the funds for retail network expansion and strategic acquisitions[99] - The planned use of proceeds includes HKD 22 million for the gradual expansion of the retail network in Hong Kong[102] - A total of HKD 36.5 million has been allocated to meet minimum procurement commitments under new exclusive distribution rights[102] - Strategic acquisition opportunities accounted for HKD 27 million, with no funds utilized to date[102] - Investment in properties in Hong Kong utilized HKD 31 million as of September 30, 2021[102] - General working capital has utilized HKD 14.6 million, with an initial allocation of HKD 0.6 million[102] - The total proceeds utilized as of September 30, 2021, amount to HKD 86.1 million[102]
MOS HOUSE(01653) - 2022 - 中期财报