Financial Performance - The Group recorded revenue of approximately HK$200.2 million for the six months ended 30 September 2021, a significant increase from approximately HK$3.6 million for the same period in 2020, representing a growth of over 5,500%[19]. - Gross profit for the six months ended 30 September 2021 was approximately HK$9.6 million, compared to approximately HK$1.4 million for the same period in 2020, indicating a growth of over 585%[19]. - Loss attributable to owners of the Company for the six months ended 30 September 2021 was approximately HK$22.0 million, compared to approximately HK$1.7 million for the same period in 2020, reflecting an increase in loss of over 1,200%[19]. - Basic and diluted loss per share was approximately HK$0.13 for the six months ended 30 September 2021, compared to approximately HK$0.01 (restated) for the same period in 2020[19]. - Total comprehensive loss for the period was approximately HK$36.265 million, compared to HK$1.714 million for the same period in 2020[24]. - The Group reported a loss before tax of HK$35,116,000 for the six months ended 30 September 2021, compared to a loss of HK$1,714,000 for the same period in 2020[65]. - The total segment loss for the Group for the six months ended 30 September 2021 was HK$24,461,000, compared to a loss of HK$1,714,000 for the same period in 2020[68]. Revenue Sources - Revenue from the manufacture and sale of frozen aquatic products in PRC reached HK$185,956,000 for the six months ended 30 September 2021, with no revenue reported for the same period in 2020[65]. - The Group's revenue from catering services through restaurant operations for the six months ended 30 September 2021 was HK$200,247,000, compared to HK$3,598,000 for the same period in 2020, representing a significant increase[65]. - Excluding revenue from Jintian of approximately HK$185.9 million, revenue from catering services increased by approximately HK$10.7 million to HK$14.3 million, attributed to increased dining out and consumption due to relaxed restrictions[142]. Expenses and Costs - Administrative expenses for the period were approximately HK$5.9 million, compared to HK$2.6 million for the same period in 2020, indicating an increase of over 126%[22]. - Employee benefit expenses for the six months ended September 30, 2021, totaled HK$11,174, compared to HK$2,719 in the same period of 2020, reflecting a substantial increase[7]. - Central administrative costs and finance costs for the six months ended 30 September 2021 amounted to HK$10,655,000[65]. - The Group recognized impairment losses of HK$21,395 related to right-of-use assets during the period ended September 30, 2021[7]. - The Group recognized a one-off loss of approximately RMB18.0 million (equivalent to approximately HK$21.4 million) due to inventory impairment caused by stock deterioration from a power supply failure at the cold storage facility during the National Day Holidays in China[165]. Assets and Liabilities - As of September 30, 2021, total assets less current liabilities amounted to HK$41,991,000, an increase from HK$29,178,000 as of March 31, 2021[28]. - Current liabilities surged to HK$136,290,000 from HK$8,106,000, primarily driven by an increase in trade payables to HK$104,280,000[28]. - The Group's current ratio and quick ratio were 1.1 and 0.9 respectively as of September 30, 2021, down from 2.8 for both ratios as of March 31, 2021[182][187]. - The Group's borrowings included lease liabilities of approximately HK$12.2 million and bonds of approximately HK$4.5 million, resulting in a gearing ratio of approximately 49.7%[177][179]. Compliance and Governance - The company emphasizes compliance with the GEM Listing Rules, ensuring that the information presented is accurate and complete[4]. - The board of directors collectively accepts full responsibility for the report, confirming no misleading or deceptive information is included[4]. - The company has a commitment to transparency and accuracy in its financial reporting, as stated by the directors[4]. - The unaudited condensed consolidated financial statements are prepared on a historical cost basis and presented in Hong Kong dollars (HK$), with all values rounded to the nearest thousands (HK$'000)[50]. Corporate Actions - The Group issued 215,999,995 rights shares at HK$0.17 each on September 6, 2021, as part of a rights issue[110]. - The authorized share capital was increased to HK$100 million, divided into 10 billion existing shares, following a share consolidation[110]. - The Group completed the acquisition of Zhangzhou Jintian Food Co., Limited on May 18, 2021, with the total consideration settled in cash[119]. - The identifiable net assets acquired from Jintian amounted to HK$18.91 million, with goodwill arising from the acquisition of HK$0.70 million[127]. Market Environment - The company operates in a market characterized by higher investment risks associated with small and mid-sized companies listed on GEM[2]. - There is an acknowledgment of potential market volatility affecting securities traded on GEM compared to those on the Main Board[3]. - The Group's business consolidation was influenced by the economic impact of the China-United States trade war and the COVID-19 pandemic[133].
汉诺佳池(08428) - 2022 - 中期财报