Financial Performance - For the three months ended September 30, 2020, the Group reported revenue of HKD 26,214,000, a decrease of 3.7% compared to HKD 27,223,000 for the same period in 2019[24]. - For the six months ended September 30, 2020, the Group's revenue was HKD 54,708,000, down 7.2% from HKD 59,130,000 in the prior year[24]. - The Group recorded a loss before tax of HKD 1,590,000 for the three months ended September 30, 2020, compared to a loss of HKD 8,403,000 for the same period in 2019, indicating a significant improvement[24]. - The total comprehensive loss for the six months ended September 30, 2020, was HKD 2,135,000, a reduction from HKD 23,167,000 in the previous year[24]. - The company reported a net cash inflow from operating activities of HKD 12,721,000 for the six months ended September 30, 2020, compared to HKD 1,721,000 for the same period in 2019, reflecting a significant increase of approximately 640%[34]. - The company recorded a total comprehensive loss of HKD 23,075,000 for the six months ended September 30, 2020, compared to a total comprehensive loss of HKD 23,167,000 for the same period in 2019, showing a slight improvement[30]. - The company recorded a loss attributable to owners of approximately HKD 2.2 million for the six months ended September 30, 2020, a significant decrease from a loss of approximately HKD 23.1 million for the same period in 2019[100]. - The reduction in loss was primarily due to the absence of share of losses from associates, a decrease in employee costs by approximately HKD 5.5 million, and a reduction in losses from the sale of fixed assets by approximately HKD 4.2 million[100]. Assets and Liabilities - The Group's non-current assets decreased to HKD 96,579,000 as of September 30, 2020, from HKD 113,272,000 as of March 31, 2020[26]. - Current assets increased to HKD 10,950,000 as of September 30, 2020, compared to HKD 8,905,000 as of March 31, 2020[26]. - The Group's total liabilities decreased to HKD 50,237,000 as of September 30, 2020, from HKD 55,088,000 as of March 31, 2020[26]. - The company’s total liabilities decreased to HKD 37,530,000 as of September 30, 2020, down from HKD 45,191,000 as of March 31, 2020, indicating a reduction of about 17%[28]. - The total assets as of September 30, 2020, amounted to HKD 107,529,000, while total liabilities were HKD 87,767,000, resulting in a net asset position[55]. - The company’s current liabilities were approximately HKD 50.2 million, a decrease from approximately HKD 55.1 million as of March 31, 2020[113]. - The capital debt ratio as of September 30, 2020, was 75.9%, down from 95.2% as of March 31, 2020[113]. - The company’s accumulated losses increased to HKD 61,261,000 as of September 30, 2020, from HKD 59,106,000 as of March 31, 2020, reflecting an increase of approximately 3.6%[30]. Employee Costs and Operations - The Group's employee costs for the six months ended September 30, 2020, were HKD 22,290,000, down 19.7% from HKD 27,785,000 in the previous year[24]. - Employee costs decreased to HKD 10,496,000 for the three months ended September 30, 2020, down 14.3% from HKD 12,246,000 in 2019[62]. - The company plans to reduce restaurant staff usage to minimize employee costs in response to ongoing challenges from the COVID-19 pandemic[81]. - Employee costs for the same period were approximately HKD 22.3 million, a decrease of about 19.8% from approximately HKD 27.8 million in the previous year, mainly due to a reduction in the number of restaurants and tighter cost control[93]. Revenue by Segment - The Chinese cuisine segment generated revenue of HKD 16,794, down from HKD 21,654 in the previous year, reflecting a decrease of about 22.6%[50]. - The Thai cuisine segment reported revenue of HKD 16,181, a slight decrease from HKD 21,317, indicating a decline of approximately 24.0%[50]. - The Malaysian cuisine segment achieved revenue of HKD 18,649, down from HKD 15,350 in the previous year, showing an increase of about 21.5%[50]. - For the six months ended September 30, 2020, "麻酸樂╱嫲孫樂" recorded revenue of approximately HKD 16.8 million, accounting for 30.7% of total revenue, representing a decrease of 22.4% compared to the same period last year due to the impact of COVID-19[84]. - For the same period, "泰巷" generated revenue of approximately HKD 16.2 million, making up 29.6% of total revenue, with a decline of 24.1% attributed to a reduction in the number of restaurants and the adverse effects of COVID-19[84]. - "峇峇娘惹" achieved revenue of approximately HKD 18.7 million, which accounted for 34.1% of total revenue, showing an increase of 21.5% year-on-year due to the opening of a new restaurant in November 2019[86]. Cash Flow and Financing - The company’s financing activities resulted in a net cash outflow of HKD 15,038,000 for the six months ended September 30, 2020, compared to a net cash outflow of HKD 2,357,000 for the same period in 2019, indicating a significant increase in cash used for financing[34]. - The group’s financing costs remained stable at approximately HKD 1.3 million for the six months ended September 30, 2020, compared to approximately HKD 1.2 million for the same period in 2019[99]. - The company received HKD 6,104 in subsidy income for the six months ended September 30, 2020, compared to no subsidy income in the previous year[59]. - The company received government subsidies and rental concessions during the period, which were not present in the previous year[100]. Strategic Initiatives - The company aims to negotiate rent concessions with landlords to alleviate financial pressure during the pandemic[81]. - The company is expanding its takeaway product range and increasing marketing efforts to stimulate sales[81]. - The group launched a new business segment to sell ingredients to a restaurant group, generating revenue of approximately HKD 3.1 million, which accounted for 5.6% of total revenue, with no comparative figures from the previous year as it is a newly established business[86]. - The group is optimistic about the prospects of its joint venture in the frozen warehouse business, despite a slowdown in growth due to COVID-19 and social unrest, and is collaborating with multiple partners to develop an online shopping platform[86]. Shareholder and Governance - Major shareholder MJL held 540,000,000 shares, representing 67.5% of the company's equity as of September 30, 2020[131]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2020, confirming compliance with applicable accounting standards and GEM listing rules[146]. - The company did not recommend any dividend payment for the six months ended September 30, 2020, consistent with the previous year[66]. - The company has no outstanding capital commitments as of September 30, 2020[116]. - The company had no major investment or capital asset plans as of September 30, 2020[119].
倩碧控股(08367) - 2021 - 中期财报