Financial Performance - For the six months ended September 30, 2019, the total revenue of the company was approximately HKD 73.9 million, a decrease of about 3.1% compared to HKD 76.3 million for the same period in 2018[8]. - The company recorded a net loss attributable to owners of approximately HKD 2.7 million, compared to a loss of HKD 2.2 million for the same period in 2018[9]. - Revenue from offset printing services accounted for 75.9% of total revenue, generating HKD 56.1 million, a decrease of 2.5% from HKD 57.5 million in the previous year[13]. - Revenue from inkjet printing services decreased by 8.5% to HKD 10.3 million, down from HKD 11.2 million in the previous year[13]. - Other service revenue decreased from HKD 2.9 million to HKD 2.7 million, primarily due to reduced demand for pre-press design services[13]. - The company reported unaudited revenue of HKD 73,857,287 for the six months ended September 30, 2019, a decrease of 3.6% compared to HKD 76,250,157 in the same period of 2018[56]. - Gross profit for the same period was HKD 15,125,254, slightly down from HKD 15,206,393, resulting in a gross margin of approximately 20.5%[56]. - The company achieved a profit attributable to owners of HKD 552,512, compared to a loss of HKD 2,161,749 in the same period last year[56]. - The profit before tax for the six months ended September 30, 2019, was HKD 703,993, a turnaround from a loss of HKD 2,274,084 in the same period of 2018[81]. - The group reported a loss attributable to ordinary equity shareholders of HKD 552,512 for the period, a significant recovery from a loss of HKD 2,161,749 in the previous year[85]. Cost and Expenses - The gross profit margin increased from 19.9% to 20.5%, primarily due to a decrease in the unit cost of raw materials[9]. - Total sales cost decreased from HKD 61.0 million in the first half of 2018 to HKD 58.7 million in the first half of 2019, primarily due to a decrease in unit costs of raw materials[14]. - Employee costs amounted to HKD 16.2 million, slightly up from HKD 16.1 million in the first half of 2018, with 136 full-time employees maintained[21]. - The income tax expense for the six months ended September 30, 2019, was HKD 151,481, compared to a tax credit of HKD 112,335 in the previous year[83]. Assets and Liabilities - As of September 30, 2019, the current assets net amount was HKD 25.2 million, with a current ratio of 1.78, down from HKD 30.1 million and 2.19 on March 31, 2019[19]. - Total assets as of September 30, 2019, were HKD 89,386,400, an increase from HKD 79,241,951 as of March 31, 2019[60]. - Current liabilities increased to HKD 32,158,378 from HKD 25,167,126, reflecting a rise in trade and other payables[59]. - Trade receivables as of September 30, 2019, were HKD 12,720,925, up from HKD 12,175,074 as of March 31, 2019[89]. - Total trade and other payables increased to HKD 23,316,588 from HKD 21,453,855 in the previous period[92]. Corporate Governance and Shareholder Information - The company emphasizes high standards of corporate governance, adhering to all principles and code provisions of the GEM Listing Rules as of September 30, 2019[47]. - The major shareholders include Mr. Zhou Wenqiang with 280,400,000 shares (31.16%) and Mr. Xu Qingnai with 110,500,000 shares (12.28%) as of September 30, 2019[41]. - The company adopted a share option scheme on February 26, 2018, which remains valid for 10 years without any options granted or exercised as of the report date[46]. Future Plans and Investments - The company plans to develop non-paper printing products to meet the growing market demand[12]. - The company has postponed expansion plans due to political instability in Hong Kong, with future plans to seek quotes for a hybrid printing machine once the situation stabilizes[34]. - The company has no significant investment or capital asset plans beyond those disclosed in the prospectus as of September 30, 2019[39]. Cash Flow and Financing Activities - For the six months ended September 30, 2019, the operating cash flow was HKD 6,154,616, compared to a cash outflow of HKD 10,871,975 in the same period of 2018, indicating a significant improvement[65]. - The net cash generated from operating activities was HKD 5,925,579, a recovery from a net cash outflow of HKD 10,883,962 in the previous year[65]. - The company’s financing activities resulted in a net cash outflow of HKD 5,230,880, compared to an outflow of HKD 595,117 in the same period of 2018[65]. Other Relevant Information - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2019[9]. - There were no major acquisitions or disposals of associates, joint ventures, or subsidiaries in the first half of 2019[25]. - The company did not engage in any buybacks, sales, or redemptions of its listed securities during the reporting period[49]. - There are no known matters requiring disclosure after the reporting period[40].
环球印馆(08448) - 2020 - 中期财报