Financial Performance - For the six months ended March 31, 2019, the group's unaudited revenue was approximately HKD 22.5 million, a decrease of about 40.8% compared to the same period in 2018[4]. - The unaudited gross profit for the same period was approximately HKD 8.7 million, down approximately 55.2% year-on-year[4]. - The group recorded an unaudited net loss of approximately HKD 8.1 million for the six months ended March 31, 2019, compared to a net loss of approximately HKD 3.5 million in the same period of 2018[4]. - Basic loss per share for the six months ended March 31, 2019, was HKD 0.81, compared to HKD 0.43 for the same period in 2018[4]. - The company incurred a total comprehensive loss of HKD 8,139,000 for the six months ended March 31, 2019, compared to a loss of HKD 3,529,000 for the same period in 2018[23]. - The company's revenue decreased by approximately 40.8%, from about HKD 38.0 million for the six months ended March 31, 2018, to about HKD 22.5 million for the six months ended March 31, 2019[32]. - The net loss after tax for the six months ended March 31, 2019, was approximately HKD 8.1 million, compared to a net loss of about HKD 3.5 million for the same period in 2018[32]. - The gross profit fell by approximately 55.2%, from about HKD 19.4 million for the six months ended March 31, 2018, to about HKD 8.7 million for the six months ended March 31, 2019[34]. Dividends and Shareholder Returns - The board of directors resolved not to declare an interim dividend for the six months ended March 31, 2019, compared to an interim dividend of HKD 0.005 per share for the same period in 2018[4]. - The company did not declare an interim dividend for the six months ended March 31, 2019, while it paid a total of HKD 5,000,000 in dividends for the same period in 2018[22]. - The board resolved not to declare an interim dividend for the six months ended March 31, 2019, compared to a dividend of HKD 0.005 per share totaling HKD 5.0 million for the same period in 2018[55]. Assets and Liabilities - As of March 31, 2019, the total net assets were HKD 72.1 million, down from HKD 85.3 million as of September 30, 2018[7]. - Current assets totaled HKD 78.4 million as of March 31, 2019, compared to HKD 103.4 million as of September 30, 2018[7]. - Cash and bank balances as of March 31, 2019, were HKD 49.3 million, down from HKD 62.4 million as of September 30, 2018[7]. - The group’s total equity attributable to owners was HKD 72.1 million as of March 31, 2019, compared to HKD 85.3 million as of September 30, 2018[7]. - The accounts receivable from service contracts amounted to HKD 9,445,000 as of March 31, 2019, compared to HKD 10,974,000 as of September 30, 2018[26]. - The accounts payable as of March 31, 2019, was HKD 3,288,000, down from HKD 7,399,000 as of September 30, 2018[29]. - As of March 31, 2019, the group's cash, bank balances, and time deposits amounted to approximately HKD 49.3 million, down from HKD 62.4 million as of September 30, 2018, with no bank borrowings[40]. - As of March 31, 2019, the group had no significant contingent liabilities[50]. Operational Expenses - Employee benefits expenses, including director remuneration, increased to HKD 12,315,000 for the six months ended March 31, 2019, from HKD 10,284,000 in the same period of 2018[21]. - Sales and distribution expenses decreased from approximately HKD 1.8 million for the six months ended March 31, 2018, to approximately HKD 1.1 million for the six months ended March 31, 2019, primarily due to a reduction in employee costs and compensation expenses[36]. - Administrative expenses fell from approximately HKD 20.0 million for the six months ended March 31, 2018, to approximately HKD 16.1 million for the six months ended March 31, 2019, mainly due to the absence of non-recurring listing expenses[37]. - The service costs decreased by approximately 26.2%, from about HKD 18.7 million for the six months ended March 31, 2018, to about HKD 13.8 million for the same period in 2019[33]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of HKD 4,936,000 for the six months ended March 31, 2019, compared to a net cash inflow of HKD 2,872,000 for the same period in 2018[6]. - The company’s financing activities resulted in a net cash outflow of HKD 5,000,000 for the six months ended March 31, 2019, compared to a net inflow of HKD 46,735,000 in the same period of 2018[6]. - The company’s cash and cash equivalents decreased by HKD 13,088,000, ending at HKD 49,301,000 as of March 31, 2019, compared to HKD 68,548,000 at the end of the previous period[6]. - Interest income from investment activities increased to HKD 331,000 for the six months ended March 31, 2019, compared to HKD 5,000 in the same period of 2018[6]. Capital Expenditures and Investments - The total cost of property, plant, and equipment purchased was approximately HKD 3,483,000 for the six months ended March 31, 2019, compared to about HKD 155,000 for the same period in 2018[25]. - Capital expenditures for the six months ended March 31, 2019, were approximately HKD 3.5 million, primarily for office renovations and equipment purchases in Central, Hong Kong[41]. - The net proceeds from the share issuance on February 2, 2018, amounted to approximately HKD 28.7 million, which will be utilized as outlined in the prospectus[42]. Corporate Governance and Compliance - The company has complied with all corporate governance codes as outlined in the GEM Listing Rules Appendix 15 up to March 31, 2019[64]. - The audit committee has reviewed the unaudited condensed consolidated results for the six months ended March 31, 2019, ensuring compliance with applicable accounting standards[67]. Shareholding Structure - As of March 31, 2019, Achiever Choice Limited holds 750,000,000 shares, representing 75% of the company's equity[57]. - Mr. Chan is the beneficial owner of Achiever Choice, which owns 750,000,000 shares, accounting for 75% of the issued share capital of the company[59]. - There were no share options granted or exercised under the share option scheme as of March 31, 2019[61]. Future Plans - The company plans to continue expanding operational capabilities and market share following the completion of office renovations in Central Hong Kong[32]. - The company aims to utilize its status as a listed entity to maximize shareholder value through strategic allocation of IPO proceeds[32].
钜京控股(08450) - 2019 - 中期财报