Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 26,991,000, a decrease of 18.5% compared to HKD 32,941,000 for the same period in 2019[5] - Gross profit for the six months ended September 30, 2020, was HKD 21,608,000, down 16.7% from HKD 25,954,000 in 2019[5] - The company reported a net profit attributable to owners of HKD 6,020,000 for the six months ended September 30, 2020, compared to a loss of HKD 6,173,000 in the same period of 2019[5] - Basic earnings per share for the six months ended September 30, 2020, was HKD 1.25, compared to a loss per share of HKD 1.29 in 2019[5] - The company recorded a total comprehensive loss of HKD 6,173,000 for the six months ended September 30, 2020, compared to a loss of HKD 6,138,000 for the same period in 2019[11] - The profit attributable to the owners of the company for the six months ended September 30, 2020, was approximately HKD 6.0 million, compared to a loss of about HKD 6.2 million in the same period of 2019, due to effective cost control measures[62] Revenue Breakdown - Revenue from the sale of women's lingerie and related products for the six months ended September 30, 2020, was HKD 23,773,000, down from HKD 31,556,000 in the same period of 2019, reflecting a decrease of approximately 24.7%[29] - The company's revenue from beauty services for the six months ended September 30, 2020, was HKD 545,000, down from HKD 643,000 in the same period of 2019, representing a decrease of approximately 15.2%[29] - The group's revenue for the reporting period was approximately HKD 27.0 million, a decrease of about 17.9% compared to HKD 32.9 million in the same period of 2019, primarily due to the impact of the COVID-19 pandemic on retail sales[57] Assets and Liabilities - Total assets as of September 30, 2020, were HKD 41,992,000, compared to HKD 41,607,000 as of March 31, 2020[7] - The company's non-current assets decreased to HKD 38,386,000 as of September 30, 2020, from HKD 32,976,000 as of March 31, 2020[7] - Current liabilities increased to HKD 104,300,000 as of September 30, 2020, from HKD 97,003,000 as of March 31, 2020[8] - As of September 30, 2020, the group's current liabilities net value was approximately HKD 55.4 million, down from HKD 62.3 million as of March 31, 2020[64] Cash Flow - The company reported a net cash inflow from operating activities of HKD 9,457,000 for the six months ended September 30, 2020, compared to HKD 944,000 for the same period in 2019, representing a significant increase[16] - The company’s cash and bank balances decreased to HKD 3,269,000 as of September 30, 2020, from HKD 4,023,000 as of March 31, 2020[7] - Cash and cash equivalents at the end of the period were HKD 4,023,000, down from HKD 5,454,000 at the end of the same period in 2019, indicating a decrease of approximately 26.2%[16] - The company reported a decrease in cash flow from investing activities, with a net cash outflow of HKD 338,000 for the six months ended September 30, 2020, compared to a net inflow of HKD 103,000 in the same period of 2019[16] Cost Management - The company incurred a loss of HKD 30,976,000 in accumulated losses as of April 1, 2020, which increased to HKD 66,088,000 by September 30, 2020[11] - Total employee costs decreased to 9,891 thousand HKD for the six months ended September 30, 2020, down 35.5% from 15,315 thousand HKD in the same period of 2019[6] - Selling expenses decreased to approximately HKD 8.7 million from about HKD 14.2 million in the previous year, mainly due to reductions in employee costs and marketing expenses[60] - Administrative and other operating expenses fell to approximately HKD 10.6 million from about HKD 17.8 million in the previous year, driven by decreases in legal and professional fees and other operating costs[60] Shareholder Information - The group maintained a consistent share count of 480,000,000 ordinary shares throughout the reporting periods[39] - As of September 30, 2020, Global Succeed Group Limited holds 250,000,000 shares, representing 52.08% of the company's issued share capital[79] - Waichun Logistics Technology Limited owns 110,000,000 shares, accounting for 22.92% of the company's issued share capital[79] - The company has not granted any share options under the share option scheme as of the report date[85] Governance and Compliance - The company has complied with the corporate governance code except for the separation of roles between the chairman and the CEO[87] - The company has established an audit committee to oversee financial reporting processes and internal controls[91] - The audit committee reviewed the unaudited consolidated results for the six months ended September 30, 2020, considering positive cash flow and measures to improve financial conditions[93] - The board believes that the financial condition of the group will improve due to effective measures taken amid the recent developments of the COVID-19 pandemic[94] Employment and Operations - The group had 107 full-time employees as of September 30, 2020, down from 120 as of March 31, 2020[69] - The group completed the sale of a vessel for HKD 13.5 million during the reporting period[67] - The group incurred a net foreign exchange loss of 366 thousand HKD for the six months ended September 30, 2020, compared to a loss of 807 thousand HKD in the same period of 2019, reflecting improved currency management[6] - The group did not recommend any dividend distribution for the three and six months ended September 30, 2020, consistent with the previous year[36]
海纳星空科技(08297) - 2021 - 中期财报