Revenue Performance - For the six months ended September 30, 2020, the group's revenue was approximately HKD 63,683,000, an increase of about 6.4% compared to HKD 59,725,000 in 2019[15]. - The revenue from garment procurement was approximately HKD 62,758,000, representing a growth of about 10.17% from HKD 56,963,000 in 2019[15]. - Revenue from financial services decreased by approximately 66.51% to HKD 925,000, down from HKD 2,762,000 in 2019, primarily due to the sale of the P2P financial business[15]. - Revenue for the six months ended September 30, 2020, was HKD 63,683,000, an increase of 6.5% compared to HKD 59,725,000 in the same period of 2019[56]. - The company had total unallocated other income and gains of HKD 1,706,000 for the six months ended September 30, 2020, compared to HKD 574,000 in the same period of 2019[70][74]. Profitability and Loss - The group reported a loss attributable to owners of the company of approximately HKD 2,059,000, compared to a loss of HKD 5,742,000 in 2019[15]. - Gross profit decreased to HKD 2,153,000, down 37.2% from HKD 3,430,000 year-on-year[56]. - The company reported a net loss attributable to shareholders of HKD 2,059,000, compared to a loss of HKD 5,742,000 in the previous year, representing a 64.1% improvement[56]. - The operating loss for the six months ended September 30, 2020, was HKD 2,034,000, compared to an operating loss of HKD 5,717,000 for the same period in 2019, representing a 64.5% improvement[70][72]. - The company reported a pre-tax loss of HKD 2,059,000 for the six months ended September 30, 2020, down from a pre-tax loss of HKD 5,742,000 in the prior year, indicating a 64.1% reduction in losses[70][81]. Expenses and Cost Management - Administrative expenses were approximately HKD 5,793,000, a reduction of about 19.56% from HKD 7,202,000 in 2019, due to strict cost control measures[15]. - The cost of goods sold for the six months ended September 30, 2020, was HKD 61,530,000, compared to HKD 55,528,000 in the same period of 2019, reflecting an increase of 10.8%[77]. - The company reported a total employee cost of HKD 2,545,000 for the six months ended September 30, 2020, down from HKD 3,828,000 in the same period of 2019, representing a decrease of 33.5%[77]. Assets and Liabilities - As of September 30, 2020, the total assets of the group were approximately HKD 130,963,000, an increase from HKD 111,736,000 as of March 31, 2020[16]. - The cash and cash equivalents amounted to approximately HKD 26,968,000, up from HKD 21,736,000 as of March 31, 2020[16]. - The current ratio was 2.14:1 as of September 30, 2020, down from 4.91:1 as of March 31, 2020[16]. - The debt-to-equity ratio was 1.46% as of September 30, 2020, compared to 0.94% as of March 31, 2020, indicating a healthy level of leverage[16]. - Total assets decreased slightly to HKD 93,036,000 from HKD 94,894,000, while total liabilities increased to HKD 37,927,000 from HKD 16,842,000[58]. Business Strategy and Future Outlook - The group is focusing on diversifying its business and expanding its financial services in both mainland China and Hong Kong markets[10]. - The group aims to enhance the operational standards of its two main businesses while seeking new opportunities to expand profit channels[13]. - The company plans to continue focusing on product development and market expansion strategies to enhance future performance[64]. Shareholder Information - As of September 30, 2020, the total number of issued shares was 655,927,000, with major shareholders holding significant stakes: Shengtu International Limited and Mr. Zhi Hua each held 49.15%[34]. - Mr. Wu Lianghao held 15.85% of the shares, amounting to 103,950,000 shares, while Mr. Wu Zilun and Ms. Qiu Yuzhen each held 7.65%, totaling 50,173,000 shares[34]. - The average number of ordinary shares outstanding for the calculation of basic loss per share was 655,927,000 for both periods[81]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim financial statements for the six months ending September 30, 2020[43]. - The company confirmed compliance with all corporate governance code provisions during the reporting period[42]. - There were no significant legal or regulatory violations affecting the group's business operations during the reporting period[48]. Financing and Capital Management - A financing agreement was established on October 6, 2020, for a revolving loan facility of up to HKD 20,000,000[25]. - The company did not purchase, redeem, or sell any of its listed securities during the reporting period[41]. - No significant capital expenditures were made during the reporting period, and there were no major capital commitments as of September 30, 2020[20]. - The group has no contingent liabilities as of September 30, 2020[24]. Employee Information - The group employed approximately 9 employees as of September 30, 2020, with total employee costs (excluding directors' remuneration) of about HKD 1,257,000[28].
杭品生活科技(01682) - 2021 - 中期财报