Company Overview - MOG Holdings Limited is one of the largest optical product retailers in Malaysia, operating 81 owned and 7 franchised retail stores as of September 30, 2021[18]. - The company offers a wide range of optical products, including international luxury and high-end fashion brands, as well as its own private label products[18]. - The retail network covers various market segments, including high-end, mid-range, and mass markets, with a focus on contact lenses through a dedicated retail brand[18]. - The company has implemented a multi-brand strategy to cater to different consumer demographics in the optical retail market[18]. - As of the reporting period, the company had 10 retail brands to serve various segments of the Malaysian optical retail market[18]. Market Trends - The increasing awareness of eye care and the rising incidence of vision impairment, particularly myopia among children and adolescents, are driving demand for optical products[19]. - The COVID-19 pandemic has significantly increased the use of technology devices, leading to a higher demand for corrective eyewear, especially prescription glasses and contact lenses[19]. - The management believes that the demand for optical products will continue to grow in the future due to the ongoing trends in eye care awareness and technology usage[19]. Financial Performance - The company's revenue decreased by approximately 9.0 million MYR or 18.9% to about 38.5 million MYR for the reporting period, down from approximately 47.5 million MYR for the fiscal period ending September 30, 2020[26]. - Retail business revenue fell by about 19.0% to approximately 38.0 million MYR, primarily due to decreased sales of optical products caused by COVID-19 restrictions[26]. - Gross profit decreased by approximately 5.1 million MYR or 16.1% to about 26.6 million MYR, with a gross profit margin increasing from approximately 66.8% to about 69.1%[28]. - Net profit decreased by approximately 2.3 million MYR or 40.7% to about 3.3 million MYR, resulting in a net profit margin decline from approximately 11.7% to about 8.6%[35]. - For the six months ended September 30, 2021, the company reported revenue of 38,477 thousand MYR, a decrease of 19% from 47,451 thousand MYR in the same period of 2020[86]. - Gross profit for the same period was 26,577 thousand MYR, down from 31,686 thousand MYR, reflecting a decline of approximately 16%[86]. - The company recorded a pre-tax profit of 5,165 thousand MYR, a decrease of 32% compared to 7,626 thousand MYR in the previous year[86]. - Net profit for the period was 3,309 thousand MYR, down 41% from 5,566 thousand MYR year-on-year[86]. Cash Flow and Liquidity - The company's cash and bank balances totaled approximately 107.2 million MYR as of September 30, 2021[25]. - Operating cash flow for the reporting period was approximately 1.7 million MYR, down from about 28.1 million MYR as of March 31, 2021[36]. - The company's cash and cash equivalents stood at 53,547 thousand MYR as of September 30, 2021, compared to 68,343 thousand MYR as of March 31, 2021, showing a decrease of 21.6%[88]. - The net cash used in investing activities was 11,017 thousand MYR, compared to 34,080 thousand MYR in the previous year, reflecting a significant reduction of approximately 67.7%[102]. - The company reported a net cash outflow from financing activities of 4,856 thousand MYR, a stark contrast to the inflow of 54,955 thousand MYR in the prior year[102]. Expenses and Costs - Administrative expenses increased by approximately 0.1 million MYR or 2.0% to about 5.2 million MYR due to higher professional fees[31]. - Employee costs for the year ended September 30, 2021, were approximately MYR 13.6 million, a decrease from MYR 14.1 million for the year ended September 30, 2020, attributed to a reduction in the number of employees and lower sales commissions[46]. - The total income tax expense for the period was RM 1,856,000, a decrease of 10% from RM 2,060,000 in the same period last year[141]. - The total cost of finance, including interest on borrowings, was RM 316,000, down from RM 414,000, marking a decrease of 23.6%[6]. Dividends and Shareholder Information - The group announced a special dividend of HKD 0.02 per share, totaling HKD 10 million, to be paid on October 25, 2021[51]. - The company did not recommend an interim dividend for the six months ended September 30, 2021, compared to RM 8,147,000 in the previous year[150]. - Major shareholders collectively own 75% of the company's issued shares, with each of the three main entities holding 375,000,000 shares[81]. Assets and Liabilities - Total assets as of September 30, 2021, amounted to 139,544 thousand MYR, compared to 139,244 thousand MYR as of March 31, 2021, reflecting a slight increase of 0.22%[88]. - The company's total liabilities as of September 30, 2021, were 18,770 thousand MYR, slightly down from 19,169 thousand MYR as of March 31, 2021[181]. - The group's total equity as of September 30, 2021, was 129,488 thousand MYR, up from 126,464 thousand MYR, reflecting an increase of 2.4%[91]. Future Outlook and Strategies - The company plans to continue expanding its retail network, upgrade and renovate its owned retail stores, and enhance the recognition of its 11 retail brands[57]. - The company targets to open at least 3 new owned retail stores in the upcoming six months, despite delays caused by COVID-19[63]. - The company will continue to monitor market conditions closely and adjust business strategies as necessary in response to the ongoing COVID-19 pandemic[24].
马可数字科技(01942) - 2022 - 中期财报