Financial Performance - For the six months ended September 30, 2020, the group recorded unaudited revenue of approximately HKD 21,900,000, a decrease of about 50.2% compared to HKD 44,000,000 for the same period in 2019[5] - The group reported an unaudited loss attributable to owners of the company of approximately HKD 1,100,000, compared to a loss of HKD 10,500,000 for the same period in 2019[5] - Basic and diluted loss per share for the period was HKD 0.04, down from HKD 0.40 for the same period in 2019[5] - Gross profit for the six months ended September 30, 2020, was HKD 17,313,000, compared to HKD 35,294,000 for the same period in 2019[9] - Operating profit for the period was HKD 349,000, a significant improvement from an operating loss of HKD 9,155,000 in the same period of the previous year[9] - The company recorded a total comprehensive loss of HKD 11,301,000 for the six months ended September 30, 2020, compared to a loss of HKD 10,486,000 for the same period in 2019[17] - Pre-tax loss for the six months ended September 30, 2020, was HKD 1,132,000, compared to a loss of HKD 10,486,000 in the same period of 2019, indicating a significant reduction in losses[42] Dividends and Shareholder Returns - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2020[6] - The company did not declare or pay any interim dividends for the six months ended September 30, 2020, consistent with the previous year[44] Assets and Liabilities - Total assets as of September 30, 2020, were HKD 47,608,000, compared to HKD 48,853,000 as of March 31, 2020[12] - Current liabilities increased to HKD 28,043,000 from HKD 31,573,000 as of March 31, 2020[12] - Cash and cash equivalents as of September 30, 2020, were HKD 36,047,000, down from HKD 39,456,000 as of March 31, 2020[12] - As of September 30, 2020, the company's net asset value was HKD 57,433,000, a decrease from HKD 58,100,000 as of March 31, 2020, representing a decline of approximately 1.15%[14] - The total equity attributable to the owners of the company decreased to HKD 56,601,000 from HKD 57,733,000, reflecting a decrease of about 1.96%[17] - The company's total liabilities decreased to HKD 3,810,000 from HKD 9,922,000, representing a significant reduction of about 61.7%[14] Cash Flow and Financing Activities - The company reported a net cash inflow from operating activities of HKD 2,170,000 for the six months ended September 30, 2020, compared to HKD 389,000 for the same period in 2019, indicating a significant improvement[19] - The net cash outflow from financing activities was HKD 6,490,000 for the six months ended September 30, 2020, compared to HKD 16,048,000 for the same period in 2019, showing a reduction of approximately 59.5%[19] - The company's cash and cash equivalents decreased to HKD 36,047,000 at the end of the reporting period from HKD 39,456,000 at the beginning, representing a decrease of about 10.9%[19] Employee Costs and Expenses - The group experienced a significant reduction in employee costs, which were HKD 10,498,000 for the period, compared to HKD 19,047,000 in the same period of 2019[9] - Employee benefits expenses totaled HKD 10,498,000, down from HKD 19,047,000, reflecting a decrease of approximately 45%[35] - Interest expenses on bank borrowings decreased to HKD 11,000 from HKD 160,000, a reduction of about 93%[34] - Depreciation expenses decreased by approximately 82.0% from about HKD 12,200,000 to about HKD 2,200,000[89] - Property rental and related expenses decreased by approximately 46.7% from about HKD 1,500,000 to about HKD 800,000[90] - Administrative expenses decreased by approximately 7.8% from about HKD 11,500,000 to about HKD 10,600,000[92] - Income tax expenses decreased by approximately 63.6% from about HKD 1,100,000 to about HKD 400,000[95] Business Operations and Strategy - The company operates six restaurants as of September 30, 2020, including "Chinese Kitchen," which has been temporarily closed since February 10, 2020[70] - The company plans to apply for financial support from the Hong Kong government’s new round of anti-epidemic fund employment support scheme[67] - The company is reviewing its restaurant expansion plans in light of the ongoing uncertainty due to the COVID-19 pandemic[67] - The company has no plans for market expansion or new product launches as indicated in the financial statements[52] - The group plans to adopt a conservative business strategy to support operations amid economic uncertainty and explore other business opportunities for stable returns[78] - The company adopts a conservative business strategy to support daily operations amid economic uncertainties and will focus on maintaining sufficient working capital[124] Shareholder Information - As of September 30, 2020, the company has 1,500,000,000 shares held by Fortune Round Limited, representing 56.7% ownership by Mr. Wang Wenwei[130] - Both Ms. Lin Huijun and Mr. Chen Zetao hold 20,000,000 shares each, representing 0.76% ownership, granted under the share option plan[132] - Keenfull Investments Limited owns 317,280,000 shares, accounting for 12.0% of the company's equity[135] - The company has adopted a share option scheme since July 21, 2016, with a total of 60,000,000 shares available for subscription at an exercise price of HKD 0.163 per share[139] - No share options were exercised during the six-month period ending September 30, 2020[140] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial statements for the six months ending September 30, 2020[143] - The company has implemented a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[142] - The company confirmed that all directors complied with the trading standards during the reporting period[142]
皇玺集团(08300) - 2021 - 中期财报