Financial Performance - For the six months ended September 30, 2021, the company reported total revenue of HKD 24,833,000, a decrease of 8.0% compared to HKD 26,991,000 for the same period in 2020[7] - Gross profit for the same period was HKD 18,403,000, down 14.0% from HKD 21,608,000 year-on-year[7] - The company's net profit attributable to owners for the six months was HKD 1,875,000, a decline of 68.8% from HKD 6,020,000 in the previous year[7] - Basic earnings per share for the six months was HKD 0.36, compared to HKD 1.25 for the same period in 2020[7] - The group reported a basic earnings per share of HKD 1,875 for the six months ended September 30, 2021, compared to HKD 6,020 for the same period in 2020, indicating a decrease of approximately 68.9%[36] - The group reported a total comprehensive income of HKD 1,434 thousand for the six months ended September 30, 2021, compared to HKD 5,226 thousand for the same period in 2020[13] - The group's revenue for the six months ended September 30, 2021, was approximately HKD 24.8 million, a decrease of about 8.1% compared to HKD 27.0 million for the same period in 2020 due to weakened retail sales caused by the COVID-19 pandemic[55] Assets and Liabilities - As of September 30, 2021, total non-current assets amounted to HKD 30,330,000, a decrease from HKD 41,003,000 as of March 31, 2021[9] - Current assets were reported at HKD 31,394,000, down from HKD 67,155,000 at the end of the previous fiscal year[9] - The company’s total liabilities as of September 30, 2021, were HKD 86,497,000, slightly up from HKD 86,078,000 at the end of March 2021[9] - Total assets decreased by HKD 24,773 thousand, with net assets at HKD 22,080 thousand as of September 30, 2021[11] - As of September 30, 2021, the group's current liabilities net value was approximately HKD 18.9 million, a decrease from approximately HKD 55.1 million as of March 31, 2021[61] - The group's debt-to-equity ratio as of September 30, 2021, was 130%, compared to zero as of March 31, 2021[63] Cash Flow and Financing - Cash and cash equivalents increased to HKD 28,035 thousand as of September 30, 2021, up from HKD 4,023 thousand a year earlier[16] - Operating cash flow was negative at HKD 16,842 thousand for the six months ended September 30, 2021, compared to positive cash flow of HKD 9,457 thousand in the same period of 2020[16] - The company raised HKD 41,280 thousand through the issuance of new shares, netting expenses of HKD 292 thousand[13] - The company’s financing activities generated a net cash inflow of HKD 40,988 thousand for the six months ended September 30, 2021, compared to an outflow of HKD 7,575 thousand in the same period of 2020[16] Operational Highlights - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[7] - The company is actively exploring new strategies for growth, including potential mergers and acquisitions to enhance its competitive position[7] - The company entered into a strategic cooperation framework agreement with Guangdong Baishi Zhengda Network Technology Co., Ltd. on October 19, 2021, to establish an e-commerce platform for selling women's underwear and related products[67] - The company plans to expand into artificial intelligence applications, big data analysis, and cloud storage services due to increasing demand in Hong Kong and China[68] Employee and Operational Costs - Total employee costs for the three months ended September 30, 2021, were HKD 5,530,000, up from HKD 4,706,000 in the same period of 2020, reflecting a year-on-year increase of about 17.5%[29] - The depreciation expense for property, plant, and equipment for the six months ended September 30, 2021, was HKD 1,159,000, down from HKD 1,650,000 in the same period of 2020, indicating a decrease of approximately 29.8%[29] - The cost of sales for the six months ended September 30, 2021, was approximately HKD 6.4 million, an increase of about 18.5% from HKD 5.4 million in the same period of 2020, primarily due to increased depreciation of right-of-use assets[56] Shareholder Information - As of September 30, 2021, Global Succeed Group Limited holds 200,000,000 shares, representing 37.87% of the company's issued share capital[80] - Waichun Logistics Technology Limited holds 112,125,000 shares, representing 21.24% of the company's issued share capital as of September 30, 2021[80] - The company has not granted any share options under the share option scheme as of the report date[87] - The company's ordinary shares will change from 5,000 shares to 2,500 shares per board lot effective from October 28, 2021[70] Governance and Compliance - The company has complied with the GEM Listing Rules on corporate governance, except for the separation of roles between the chairman and the CEO[89] - The audit committee reviewed the unaudited condensed consolidated results for the six months ended September 30, 2021, and found them compliant with applicable accounting standards and GEM listing rules[95] - The audit committee consists of independent non-executive directors, including Mr. Deng Guohong, Mr. Deng Yaoki, and Mr. Tong Zhu[93] Miscellaneous - The group did not recommend any dividend for the three months and six months ended September 30, 2021, consistent with the same periods in 2020[32] - The group has no plans for significant investments or capital assets beyond what is disclosed in the prospectus[74] - The group has no foreign exchange hedging policy and considers its foreign exchange risk to be very low as of September 30, 2021[75] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the six months ended September 30, 2021[92] - The financial data in the report has not been audited by the company's auditors[93] - The group had cash and cash equivalents of approximately HKD 28 million as of September 30, 2021, significantly up from approximately HKD 3.7 million as of March 31, 2021[61] - The group reported a net exchange loss of HKD 561,000 for the six months ended September 30, 2021, compared to a loss of HKD 366,000 in the same period of 2020, which is an increase of about 53.3%[29] - The group purchased property, plant, and equipment amounting to approximately HKD 211,000 for the six months ended September 30, 2021, compared to approximately HKD 339,000 in the same period of 2020, representing a decrease of about 37.8%[41] - Trade receivables as of September 30, 2021, were HKD 297,000, down from HKD 405,000 as of March 31, 2021, indicating a decrease of approximately 26.7%[42] - Trade payables increased to HKD 401,000 as of September 30, 2021, from HKD 270,000 as of March 31, 2021, reflecting an increase of about 48.5%[45]
海纳星空科技(08297) - 2022 - 中期财报