Financial Performance - The group's revenue for the six months ended September 30, 2020, was approximately HKD 79.0 million, a decrease of about 24.3% compared to approximately HKD 104.4 million for the same period in 2019[14]. - Gross profit decreased from approximately HKD 35.5 million for the six months ended September 30, 2019, to approximately HKD 29.0 million, a reduction of about 18.3%[17]. - The net profit attributable to the company's owners for the period was approximately HKD 13.7 million, a decrease of about 11.6% compared to approximately HKD 15.5 million for the same period in 2019[24]. - Revenue for the six months ended September 30, 2020, was HKD 79,003,000, a decrease of 24.5% compared to HKD 104,431,000 in 2019[74]. - Gross profit for the same period was HKD 29,021,000, down 18.2% from HKD 35,481,000 in 2019[74]. - Profit before tax decreased to HKD 16,546,000, a decline of 13.4% from HKD 19,124,000 in the previous year[74]. - Net profit attributable to owners of the company was HKD 13,671,000, down 12.0% from HKD 15,543,000 in 2019[74]. - Basic and diluted earnings per share were HKD 3.42, compared to HKD 3.89 in the previous year, reflecting a decrease of 12.1%[74]. - The group incurred a total of HKD 49,982,000 in cost of goods sold for the six months ended September 30, 2020, compared to HKD 68,950,000 in 2019, reflecting a reduction of 27.5%[103]. Expenses and Costs - Sales and distribution expenses were approximately HKD 10.4 million, a decrease of about 10.3% compared to HKD 11.6 million for the same period in 2019[19]. - Administrative expenses decreased by approximately 12.1% to about HKD 5.1 million, mainly due to reduced employee costs[20]. - The total employee compensation for the period was approximately HKD 6.4 million, a decrease from HKD 7.0 million in the previous year[35]. - The group’s employee benefit expenses, including directors' remuneration, amounted to HKD 6,373,000 for the six months ended September 30, 2020, down from HKD 7,029,000 in 2019, a decrease of 9.3%[103]. Assets and Liabilities - As of September 30, 2020, the group's net current assets amounted to approximately HKD 141.2 million, an increase from HKD 129.1 million as of March 31, 2020[28]. - The current ratio improved from approximately 3.7 times as of March 31, 2020, to approximately 6.7 times as of September 30, 2020[28]. - The group's bank and other borrowings were approximately HKD 12.0 million as of September 30, 2020, compared to zero as of March 31, 2020[29]. - The total assets as of September 30, 2020, were HKD 165,717,000, a decrease from HKD 177,665,000 as of March 31, 2020[77]. - The company reported a total equity of HKD 149,212,000 as of September 30, 2020, an increase from HKD 135,541,000 as of March 31, 2020[77]. - The group’s total liabilities as of September 30, 2020, included accrued expenses of HKD 3,420,000, unchanged from March 31, 2020[119]. Cash Flow - Cash and cash equivalents at the end of the period were HKD 61,078,000, down from HKD 102,003,000 at the beginning of the period[84]. - Net cash used in operating activities was HKD (9,504,000), an improvement from HKD (36,529,000) in the same period last year[84]. Corporate Actions and Governance - The company did not recommend the payment of an interim dividend for the period[60]. - There were no share buybacks, sales, or redemptions of listed securities during the reporting period[59]. - The company maintained a sufficient public float of at least 25% of its issued shares as of the report date[64]. - The audit committee reviewed the financial statements for the six months ended September 30, 2020, which were not audited by external auditors but were discussed with management[69]. - The company has adopted the corporate governance code as a benchmark for its governance practices and has complied with its provisions during the reporting period[61]. - The company has not granted any share options under the share option scheme since its adoption date[58]. - There were no major contracts in which directors had a significant interest during the reporting period[54]. - The group did not declare any dividends for the six months ended September 30, 2020, consistent with the same period in 2019[109]. Future Plans and Developments - The company plans to expand its sales network and increase marketing activities to enhance market share among Indonesian and Philippine users[13]. - The company has opened a new self-operated retail store in Mong Kok, bringing the total to six stores[12]. Related Party Transactions - The company incurred rental expenses of HKD 468,000 paid to related parties for the six months ended September 30, 2020, consistent with the previous year[130]. - The company received consignment income of HKD 402,000 from a related party for the six months ended September 30, 2020, unchanged from the previous year[130]. - The company continues to engage in significant related party transactions, indicating ongoing business relationships[130]. Share Capital - The total issued share capital was HKD 4,000,000 with 400,000,000 shares as of September 30, 2020[31]. - As of September 30, 2020, the total number of issued shares of the company was 400,000,000, with Ms. Li Zhenyu holding 283,872,000 shares, representing 71% ownership[52]. - The company has issued 400,000,000 shares with a par value of HKD 0.01 per share, maintaining the same number of shares since March 31, 2020[126]. Miscellaneous - The group had capital commitments of approximately HKD 300,000 as of September 30, 2020, unchanged from March 31, 2020[38]. - There were no significant acquisitions, disposals, or investments during the period[37]. - The group has no significant contingent liabilities as of September 30, 2020[43]. - No significant events occurred after the reporting period that would materially affect the company's operations and financial performance[68]. - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements[93]. - The company's financial statements are unaudited as of September 30, 2020[123].
港亚控股(01723) - 2021 - 中期财报