Revenue and Profitability - The group's revenue decreased by approximately 7.9%, from about HKD 80,400,000 for the six months ended September 30, 2019, to about HKD 74,100,000 for the same period in 2020[6] - Revenue from the bond prospectus and IPO prospectus segment decreased by approximately HKD 8,500,000, while revenue from the performance announcement and financial reporting segment increased by approximately HKD 1,000,000, and revenue from company announcements and shareholder circulars increased by approximately HKD 1,100,000[9] - Gross profit decreased by approximately 15.8%, from about HKD 45,500,000 to about HKD 38,300,000[12] - The group's profit after tax decreased by approximately 1.1% or about HKD 200,000 to approximately HKD 19,000,000 for the six months ended September 30, 2020, compared to HKD 19,200,000 for the same period in 2019[20] - Profit attributable to owners of the company was HKD 18,969,000, slightly down from HKD 19,180,000, representing a decrease of 1.1%[57] - Basic and diluted earnings per share were HKD 4.74, compared to HKD 4.80 for the previous year, indicating a decline of 1.3%[57] Income and Expenses - Other income increased significantly from about HKD 1,100,000 to approximately HKD 7,400,000, mainly due to government subsidies of about HKD 5,200,000 received under the employment support scheme[13] - Employee costs, including director remuneration, amounted to approximately HKD 25,200,000 for the reporting period, compared to approximately HKD 24,600,000 for the same period in 2019[23] - The company incurred total employee costs of 22,687 thousand HKD for the six months ended September 30, 2020, an increase from 22,045 thousand HKD in the same period in 2019, representing an increase of about 2.9%[88] - The company’s income tax expense for the six months ended September 30, 2020, was 3,728 thousand HKD, up from 3,592 thousand HKD in the same period of 2019, reflecting an increase of about 3.8%[86] - Financing costs decreased from approximately HKD 107,000 to about HKD 37,000[17] - The company reported a decrease in financing costs, with interest on lease liabilities dropping to 37 thousand HKD from 107 thousand HKD in the previous year, a reduction of approximately 65.4%[84] Dividends and Share Capital - The group did not recommend any dividend for the six months ended September 30, 2020, compared to HKD 0.025 per share for the same period in 2019[8] - The company did not declare any dividends for the six months ended September 30, 2020, compared to a total dividend distribution of 40,000 thousand HKD for the same period in 2019[91] - The total issued and paid-up share capital remained at HKD 4,000,000 as of September 30, 2020, unchanged from March 31, 2020[102] Assets and Liabilities - The asset-liability ratio increased significantly to 8.2% as of September 30, 2020, compared to 1.1% as of March 31, 2020, primarily due to lease liabilities from two lease agreements confirmed on August 7, 2020[21] - The group's net current assets increased from approximately HKD 118,300,000 as of March 31, 2020, to approximately HKD 134,200,000 as of September 30, 2020[22] - Cash and cash equivalents rose from approximately HKD 105,200,000 as of March 31, 2020, to approximately HKD 131,700,000 as of September 30, 2020[22] - Total assets as of September 30, 2020, were HKD 168,873,000, an increase from HKD 149,705,000 as of the previous year, reflecting a growth of 12.8%[59] - Cash and cash equivalents at the end of the period were HKD 131,696,000, up from HKD 110,057,000, representing an increase of 19.6%[66] - Non-current assets increased to HKD 26,583,000 from HKD 15,021,000, a significant rise of 77.5%[59] Trade Receivables and Payables - Trade receivables impairment losses increased from approximately HKD 1,900,000 to about HKD 2,400,000[16] - Trade receivables (net of impairment) increased to HKD 32,940,000 as of September 30, 2020, from HKD 23,389,000 as of March 31, 2020, representing a growth of 40.9%[95] - Trade payables decreased to HKD 13,252,000 as of September 30, 2020, down from HKD 15,234,000 as of March 31, 2020, a decline of 13.0%[97] - Total trade and other payables amounted to HKD 23,390,000 as of September 30, 2020, compared to HKD 25,375,000 as of March 31, 2020, reflecting a decrease of 8.0%[97] - The aging analysis of trade receivables shows that HKD 12,362,000 is within 30 days, up from HKD 10,807,000 in the previous period, indicating a 14.4% increase[96] - Trade receivables over 365 days increased to HKD 665,000 as of September 30, 2020, from HKD 310,000 as of March 31, 2020, a rise of 114.8%[96] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with it during the reporting period[45] - There were no interests held by directors or controlling shareholders in any competing businesses as of September 30, 2020[47] - The company confirmed compliance with the non-competition agreement by its major shareholders during the reporting period[52] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2020[54] Future Outlook and Challenges - The group anticipates challenges due to global economic downturn and uncertainties from the COVID-19 pandemic, impacting market sentiment and investor confidence[7] - The group aims to leverage its competitive advantages in branding and network to expand its customer base while enhancing professional service levels[7] Other Information - The group had no significant investments or acquisitions during the six months ended September 30, 2020[25] - There were no major investment or capital asset plans as of September 30, 2020[28] - The group had no contingent liabilities as of September 30, 2020[29] - The group does not face significant foreign exchange risks as its business activities are conducted primarily in Hong Kong and denominated in HKD[30] - There were no significant events after the reporting period ended[31] - No share options were granted during the six months ended September 30, 2020, and there were no unexercised options as of that date[42] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended September 30, 2020[43] - The company has implemented financial risk management to ensure all payables are settled within the credit period[105]
优越集团控股(01841) - 2021 - 中期财报