Financial Performance - The Group's revenue for the six months ended 30 September 2019 was approximately HK$51,186,000, representing an increase of approximately 15.22% compared to the same period of the previous financial year[7]. - The Group's gross profit for the same period was approximately HK$3,187,000, a decrease of approximately HK$419,000 compared to the previous year[7]. - Loss attributable to owners of the Company for the six months ended 30 September 2019 amounted to approximately HK$7,395,000, an improvement from a loss of HK$9,283,000 in the same period of 2018[7]. - Loss before tax for the six months ended 30 September 2019 was approximately HK$7,395,000, an improvement from HK$9,283,000 in the same period of 2018[9]. - Total comprehensive expenses for the period amounted to HK$7,400,000, a decrease from HK$11,264,000 in the previous period, representing a reduction of approximately 34%[26]. - Loss attributable to owners of the Company for the period was HK$7,395,000, compared to HK$9,283,000 in the prior period, indicating a decrease of about 20%[26]. - Basic and diluted loss per share was HK(0.5) cents, an improvement from HK(0.7) cents in the previous period[26]. Dividends and Recommendations - The Board does not recommend the payment of any interim dividend for the six months ended 30 September 2019[7]. Expenses and Costs - The cost of sales for the six months ended 30 September 2019 was approximately HK$47,999,000, compared to HK$40,818,000 for the same period in 2018[9]. - Selling expenses for the period were approximately HK$1,456,000, an increase from HK$1,325,000 in the previous year[9]. - Administrative expenses decreased to approximately HK$9,533,000 from HK$11,555,000 in the same period of 2018[9]. - Other income and gains for the period were approximately HK$171,000, compared to HK$42,000 in the previous year[9]. - The Group's gross profit margin for the six months ended 30 September 2019 was approximately 6.22%, down from 8.12% in the previous year[9]. Assets and Liabilities - Non-current assets totaled HK$18,180,000 as of September 30, 2019, while current assets were HK$120,786,000, showing a slight increase from HK$117,238,000[29][34]. - Total current liabilities were HK$23,111,000, which is a marginal increase from HK$22,964,000 in the previous period[34]. - Net current assets stood at HK$97,675,000, up from HK$94,274,000, reflecting a growth of approximately 4.5%[35]. - Total assets less current liabilities were HK$115,855,000, down from HK$122,555,000, indicating a decrease of about 5.4%[36]. - The Company reported a total equity of HK$115,155,000, a decline from HK$122,555,000, representing a decrease of approximately 6%[36]. - Cash and cash equivalents decreased to HK$45,687,000 from HK$59,573,000, a reduction of about 23.3%[29]. Cash Flow - For the six months ended September 30, 2019, the company reported a net cash outflow from operating activities of HK$16,777,000 compared to a net inflow of HK$10,262,000 in the same period of 2018[112]. - The company generated a net cash inflow from the disposal of subsidiaries amounting to HK$9,781,000, while there was no such inflow in the previous year[112]. - The company reported a net cash outflow from financing activities of HK$6,744,000, compared to a net inflow of HK$64,400,000 in the same period of 2018[115]. Segment Performance - For the six months ended September 30, 2019, external sales from the Jewellery Business were HK$45,455,000, from the Lending Business were HK$269,000, and from the Pharmaceutical Business were HK$5,462,000, totaling HK$51,186,000[146]. - The segment results showed a profit of HK$332,000 for the Jewellery Business, a profit of HK$136,000 for the Lending Business, and a loss of HK$1,080,000 for the Pharmaceutical Business, resulting in an overall loss before tax of HK$7,395,000[146]. - In comparison, for the six months ended September 30, 2018, external sales from the Jewellery Business were HK$25,567,000, from the Lending Business were HK$768,000, and from the Pharmaceutical Business were HK$18,089,000, totaling HK$44,424,000[150]. - The segment results for the same period in 2018 showed a loss of HK$224,000 for the Jewellery Business, a profit of HK$109,000 for the Lending Business, and a loss of HK$2,680,000 for the Pharmaceutical Business, leading to a loss before tax of HK$9,283,000[152]. Accounting Policies - The unaudited consolidated financial statements for the six months ended 30 September 2019 are prepared in accordance with HKAS 34 Interim Financial Reporting[119]. - The Group has applied HKFRS 16 Leases for the first time, which supersedes HKAS 17[122]. - The application of new and amendments to HKFRSs has had no material impact on the Group's financial performance and positions for the current and prior periods[120]. - The Group's accounting policies and methods of computation remain consistent with those presented in the audited consolidated financial statements for the year ended 31 March 2019[119]. Lease Accounting - The Group recognizes lease liabilities for penalties for terminating a lease if the lease term reflects the exercise of the termination option[128]. - Right-of-use assets are depreciated over the shorter of their estimated useful life and the lease term[127]. - The Group recognized lease liabilities of HK$3,646,000 and right-of-use assets of HK$3,646,000 for the lease of office premises in Hong Kong and the lease of a retail shop in PRC[134]. - The Group applied incremental borrowing rates of the relevant group entities at the date of initial application for leases previously classified as operating leases[134]. Trade Receivables and Financial Assets - Trade receivables, net, increased to HK$28,492,000 as of September 30, 2019, from HK$17,780,000 as of March 31, 2019, representing a growth of approximately 60.0%[176]. - The net trade receivables amounted to HK$30,751,000 as of September 30, 2019, compared to HK$20,466,000 as of March 31, 2019, reflecting a growth of approximately 50.5%[178]. - The fair value of financial assets at fair value through profit or loss was HK$15,000,000 as of September 30, 2019, unchanged from March 31, 2019[189]. - The company does not hold any collateral or credit enhancements over its trade receivables[179].
朗华国际集团(08026) - 2020 - 中期财报