Financial Performance - The company recorded unaudited revenue of approximately HKD 40.26 million for the six months ended September 30, 2021, representing an increase of approximately 58.82% compared to the same period last year[3]. - The unaudited profit attributable to the owners of the company for the six months ended September 30, 2021, was approximately HKD 0.26 million, a significant improvement from a loss of approximately HKD 4.93 million in the same period last year[3]. - Basic and diluted earnings per share for the six months ended September 30, 2021, were approximately HKD 0.20 cents, compared to a loss of approximately HKD 9.66 cents per share in the same period last year[3]. - The gross profit for the six months ended September 30, 2021, was approximately HKD 8.61 million, compared to HKD 2.37 million in the same period last year[6]. - The company reported a total comprehensive income of approximately HKD 4.52 million for the six months ended September 30, 2021, compared to a loss of approximately HKD 3.85 million in the same period last year[6]. - Total revenue for the six months ended September 30, 2021, was HKD 40,263,000, representing a 58.7% increase from HKD 25,352,000 in the same period of 2020[20]. - Revenue from restaurant operations increased significantly to HKD 15,260,000, compared to HKD 5,085,000, marking a growth of 200.5%[20]. - The operating loss for the six months ended September 30, 2021, was HKD (4,184,000), compared to a loss of HKD (4,929,000) in the same period of 2020, indicating a slight improvement[28]. - The company reported a profit attributable to shareholders of HKD 256,000 for the six months ended September 30, 2021, compared to a loss of HKD 4,929,000 in the same period of 2020[44]. Assets and Equity - The company’s total equity as of September 30, 2021, was approximately HKD 26.31 million, an increase from HKD 0.16 million as of March 31, 2021[9]. - The company’s total equity as of September 30, 2021, was HKD 26,309,000, an increase from HKD 19,243,000 as of March 31, 2021[11]. - The company’s total assets less current liabilities amounted to approximately HKD 65.55 million as of September 30, 2021[8]. - Non-current assets were valued at approximately HKD 42.99 million as of September 30, 2021[8]. Cash Flow and Financial Costs - The net cash used in operating activities for the six months was HKD (3,226,000), slightly improved from HKD (3,423,000) in the previous year[13]. - Cash and cash equivalents at the end of the period were HKD 2,750,000, down from HKD 5,363,000 at the end of the previous year[13]. - The company’s financial costs decreased to approximately HKD 0.87 million for the six months ended September 30, 2021, from HKD 1.51 million in the same period last year[6]. - The company’s financial costs for the period included interest expenses totaling HKD 1,596,000, down from HKD 2,224,000 in the previous year[36]. Revenue Segmentation - Sales of electronic products amounted to HKD 25,003,000, up from HKD 20,267,000, reflecting a growth of 23.5% year-over-year[20]. - Revenue from Hong Kong increased significantly to HKD 16,024,000 from HKD 6,103,000, marking a 162.5% growth year-over-year[30]. - The company’s revenue from Europe increased to HKD 17,972,000 from HKD 13,752,000, representing a 30.4% increase year-over-year[30]. - Sales from the electronics segment for the six months were approximately HKD 25.00 million, representing an increase of about 23.37% compared to the previous year[64]. - Revenue from the catering services segment was approximately HKD 15.26 million, a significant increase of about 200.10% compared to approximately HKD 5.09 million in the same period last year[66]. Expenses - Selling and distribution expenses for the six months were approximately HKD 1.16 million, an increase of about 114.97% from approximately HKD 0.54 million in the previous year[67]. - Administrative and other expenses were approximately HKD 12.22 million, an increase of about 24.20% compared to approximately HKD 9.84 million for the same period last year[68]. - The total cost of goods sold for the period was HKD 31,620,000, up from HKD 19,226,000 in the previous year, reflecting increased operational costs[36]. Corporate Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated results for the six months ending September 30, 2021, ensuring compliance with applicable accounting standards and GEM listing rules[103]. - The company has adopted the GEM listing rules regarding the standards of conduct for directors' securities transactions, with no known violations during the reporting period[98]. - The company emphasizes high-quality governance principles, maintaining transparency and accountability to shareholders, and has complied with the corporate governance code during the reporting period[99]. - No significant interests were disclosed by directors in any contracts that could materially affect the group's business during the six months ending September 30, 2021[100]. - There were no known competitive businesses or conflicts of interest involving directors or major shareholders during the reporting period[102]. Shareholder Information - The weighted average number of ordinary shares in issue during the period was 130,413,003, significantly increased from 51,000,000 in the previous year[44]. - As of September 30, 2021, the company’s directors and key executives held a total of 4,878,000 shares, representing approximately 4.38% of the issued share capital[88]. - The company has a stock option plan that allows for the issuance of options at an exercise price of HKD 0.15 per share, with a total of 80,000,000 shares available for subscription[82]. - The company has a total of 20,885,508 shares held by Siu Yik Tung Jamie, which includes 6,263,559 shares related to convertible bond holders[94]. - Lissington Limited holds 9,867,486 shares, representing 8.50% of the company's issued share capital[94]. Future Plans and Strategies - The company plans to utilize the unspent proceeds from its initial public offering within one year from the report date[73]. - The company aims to expand its customer base and increase market share through enhanced marketing activities and the development of new electronic products[64]. - The company is focused on expanding its restaurant business as part of its growth strategy[79]. - The company is in the process of acquiring a stake in Lanshan Financial Group Limited, with the announcement of the acquisition being postponed to November 30, 2021, for further details[80]. Stock and Securities - The company did not purchase, sell, or redeem any of its listed securities during the six months ending September 30, 2021[97]. - No stock options were granted, exercised, or lapsed under the stock option plans during the six months ended September 30, 2021[85]. - The total amount utilized from the net proceeds of the placement was approximately HKD 23.5 million, with HKD 2.0 million remaining unutilized[79]. - The company completed a placement of 88,000,000 new shares at a revised price of HKD 0.30 per share, raising approximately HKD 25.5 million[77]. - As of September 30, 2021, the net proceeds from the placement were allocated as follows: HKD 17.4 million for expanding the restaurant business and HKD 6.1 million for general corporate purposes, leaving HKD 2.0 million unutilized[79].
毅高国际控股(08218) - 2022 - 中期财报