Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 24,426,000, a decrease of 32% compared to HKD 35,951,000 in 2018[2] - Gross profit for the same period was HKD 10,819,000, down 32% from HKD 15,889,000 in 2018[2] - Profit before tax decreased to HKD 3,703,000, a decline of 24% from HKD 4,850,000 in the previous year[2] - Net profit for the period was HKD 3,263,000, down 22% from HKD 4,191,000 in 2018[2] - Basic earnings per share for the six months was HKD 0.0254, compared to HKD 0.0327 in the same period last year[2] - Other income for the period was 1,391 thousand HKD, down 32.8% from 2,068 thousand HKD in 2018[29] - Profit for the period was 3,263 thousand HKD, a decline of 22.1% compared to 4,191 thousand HKD in 2018[42] - Basic and diluted earnings per share were 0.025 HKD, reflecting a decrease from 0.033 HKD in the previous year[42] Revenue Breakdown - Revenue from customer contracts for the six months ended September 30, 2019, was HKD 24,426,000, a decrease of 32% from HKD 35,951,000 in the same period of 2018[23] - Maintenance service revenue for the same period was HKD 23,817,000, down from HKD 34,384,000, representing a decline of 30%[23] - Sales of accessories decreased to HKD 609,000 from HKD 1,567,000, a drop of approximately 61%[23] - Repair service revenue was approximately HKD 23,817,000, down 30.7% from HKD 34,384,000 in the previous year, primarily due to a reduction in repair work[81] Assets and Liabilities - Total assets as of September 30, 2019, were HKD 104,619,000, a slight decrease from HKD 106,467,000 as of March 31, 2019[4] - Trade and other receivables decreased to HKD 9,537,000 from HKD 12,921,000 as of March 31, 2019[4] - Trade receivables as of September 30, 2019, were 5,752 thousand HKD, down from 7,657 thousand HKD as of March 31, 2019[46] - Trade payables decreased to 2,272 thousand HKD from 2,738 thousand HKD, indicating improved liquidity management[50] - The company has a commitment for future minimum lease payments of HKD 265,000 for operating leases due within one year as of September 30, 2019, down from HKD 328,000 as of March 31, 2019[56] Cash Flow - Cash and cash equivalents increased to HKD 88,977,000 from HKD 86,749,000 at the beginning of the period[9] - The company reported a net cash inflow from operating activities of HKD 5,094,000, down from HKD 7,518,000 in the previous year[9] - The net cash generated from operating activities was approximately HKD 5,094,000 for the period[90] Dividends - The company paid dividends of HKD 3,850,000 during the period, compared to HKD 8,976,000 in the previous year[9] - The company declared an interim dividend of 0.03 HKD per share for the 2018/19 fiscal year, totaling 3,850 thousand HKD[38] - The board declared an interim dividend of HKD 0.01 per share for the six months ended September 30, 2019, consistent with the previous year[96] - The second interim dividend is expected to be paid on or around December 16, 2019[103] Accounting Policies - The company adopted HKFRS 16, which requires all leases to be recognized on the balance sheet, impacting the accounting treatment of leases[21] - The financial statements are prepared in accordance with HKFRS and are presented in thousands of HKD[14] - The company has not identified any significant impact on its financial performance or position due to the adoption of new accounting standards[15] - The accounting policies and methods used in the preparation of the financial statements are consistent with those used in the previous financial year[14] - The company has implemented a retrospective approach for the adoption of HKFRS 16, with no restatement of prior year comparative figures[20] Shareholder Information - East-Asia Pacific Limited holds 66,000,000 shares, representing approximately 51.43% of the company's issued shares[110] - Amazing Gain Limited also holds 66,000,000 shares, equivalent to 51.43% of the total issued shares[118] - The company had a total of 128,342,000 shares issued as of September 30, 2019[109] - The company’s major shareholders include J. Safra Sarasin Trust Company, which acts as a trustee for 66,000,000 shares, representing 51.43%[118] - The spouses of directors hold significant shares, with 72,356,000 shares (56.38%) and 73,182,000 shares (57.03%) respectively[118] Management and Governance - The company established an audit committee on May 2, 2013, to oversee financial reporting and risk management[123] - The audit committee consists of three independent non-executive directors, with Mr. Cao Jiayi serving as the chairman[123] - The CEO has been providing monthly updates to the board regarding significant changes in the company's financial status and outlook[121] - The company has complied with the Corporate Governance Code, except for certain deviations mentioned[121] - The board is composed of a mix of executive and independent non-executive directors, ensuring diverse oversight[124] Employment and Future Outlook - The group employed 67 full-time employees as of September 30, 2019, down from 85 as of March 31, 2019[99] - The economic outlook in Hong Kong remains highly volatile, prompting the group to carefully execute necessary business strategies[100] - The group is actively exploring suitable investment opportunities to generate stable interest and capital gains[100]
电讯首科(03997) - 2020 - 中期财报