Financial Performance - The group's revenue for the six months ended September 30, 2021, was approximately HKD 24.7 million, a decrease of about 1.4% compared to the same period in 2020[8]. - The loss for the six months ended September 30, 2021, was approximately HKD 2.8 million, while there was a profit of approximately HKD 0.8 million in the same period of 2020[8]. - The company recorded a total comprehensive loss of HKD 2,804,000 for the six months ended September 30, 2021, compared to a total comprehensive income of HKD 799,000 for the same period in 2020[14]. - Cumulative losses increased to HKD 60,176,000 as of September 30, 2021, compared to HKD 43,958,000 on April 1, 2020[14]. - For the six months ended September 30, 2021, the company reported a loss attributable to owners of HKD 2,834,000, compared to a profit of HKD 805,000 for the same period in 2020, representing a significant decline[38]. - The company reported a total of HKD 11,425,000 in revenue for the three months ended September 30, 2021, down from HKD 12,087,000 in the same period of 2020[30]. - Total revenue for the six months ended September 30, 2021, was approximately HKD 24.7 million, a decrease of 1.4% compared to HKD 25.0 million for the same period in 2020[61]. Assets and Liabilities - Total assets less current liabilities as of September 30, 2021, were HKD 25.4 million, down from HKD 31.4 million as of March 31, 2021[12]. - The net asset value as of September 30, 2021, was HKD 18.5 million, compared to HKD 21.3 million as of March 31, 2021[12]. - The group's total liabilities as of September 30, 2021, were HKD 27.6 million, compared to HKD 31.1 million as of March 31, 2021[12]. - The company's total equity decreased from HKD 34,826,000 on April 1, 2020, to HKD 21,345,000 on April 1, 2021, reflecting a decline of 38.9%[14]. - The group's current assets totaled approximately HKD 30.3 million and current liabilities were about HKD 20.7 million, resulting in a current ratio of approximately 1.5 times[84]. - The group's debt-to-equity ratio was approximately 7.7% as of September 30, 2021, down from 8.6% as of March 31, 2021[84]. Cash Flow - As of September 30, 2021, the company reported a net cash inflow from operating activities of HKD 649,000, a decrease of 81.9% compared to HKD 3,579,000 for the same period in 2020[16]. - The net cash outflow from investing activities was HKD 2,356,000, compared to HKD 2,059,000 in the previous year, indicating an increase of 14.4%[16]. - The net cash outflow from financing activities was HKD 5,430,000, up from HKD 4,578,000 in 2020, representing a rise of 18.6%[16]. - The total cash and cash equivalents decreased by HKD 7,137,000, from HKD 29,141,000 at the beginning of the period to HKD 22,004,000 at the end[16]. - As of September 30, 2021, the group's cash and bank balances were approximately HKD 22.0 million, a decrease of about HKD 7.1 million from HKD 29.1 million as of March 31, 2021[83]. Revenue Sources - Revenue from Hong Kong operations for the six months was HKD 22,081,000, down 3.4% from HKD 22,855,000 in the previous year[30]. - Revenue from food sales to franchisees increased to HKD 2,016,000 for the six months, compared to HKD 669,000 in the same period last year[26]. - Other income for the six months was HKD 239,000, significantly down from HKD 5,922,000 in the previous year, primarily due to the absence of government subsidies[32]. - Revenue from restaurants in Hong Kong and China decreased due to the closure of unprofitable restaurants and the expiration of lease agreements for some properties[60]. - Significant increase in revenue from the sale of food and related products to franchisees in Macau, as restaurants resumed normal operations after being closed due to the COVID-19 pandemic[60]. Employee Costs - The group's employee costs for the six months ended September 30, 2021, were approximately HKD 10.6 million, slightly decreased from HKD 10.7 million in the same period of 2020[10]. - Total employee costs for the six months ended September 30, 2021, were HKD 10,615,000, slightly down from HKD 10,657,000 in the previous year, indicating a marginal reduction of 0.4%[7]. - The company reported short-term employee benefits of HKD 3,527,000 for the six months ended September 30, 2021, compared to HKD 2,117,000 for the same period in 2020[51]. Dividends and Shareholder Returns - The board did not recommend any dividend payment for the six months ended September 30, 2021 (2020: none)[8]. - The group did not recommend any interim dividend for the six months ended September 30, 2021, consistent with the previous year[89]. Corporate Governance - The company emphasizes good corporate governance practices to enhance shareholder value and effective management[112]. - The company has established an audit committee in accordance with GEM listing rules, consisting of independent non-executive directors[113]. - The company has committed to transparency and accountability to all shareholders as part of its corporate governance principles[112]. - The compliance advisor has confirmed that there are no interests in the company's equity that require notification under GEM listing rules[111]. Future Plans and Strategies - The company plans to open new branches in Hong Kong, with 60.6% of the net proceeds (HKD 27.964 million) allocated for this purpose, of which HKD 13.981 million has been utilized[75]. - The company plans to collaborate with local street food vendors to diversify its customer base and create a new brand for traditional Hong Kong cuisine[81]. - The management continues to assess the timing and location for business expansion, considering the impact of the COVID-19 pandemic on operations[81]. - The company anticipates completing the remaining restaurant expansion plans by March 31, 2022, after delays caused by social events and the pandemic[75].
赏之味(08096) - 2022 - 中期财报