Financial Performance - The group's revenue increased from approximately HKD 67.8 million for the six months ended September 30, 2020, to approximately HKD 74.1 million for the six months ended September 30, 2021, representing a growth of about 9.3%[6] - Gross profit for the six months ended September 30, 2021, was approximately HKD 48.2 million, an increase of about 7.5% compared to HKD 44.9 million for the same period in 2020[6] - Profit attributable to owners of the company for the six months ended September 30, 2021, was approximately HKD 9 million, a decrease of about 32.8% from HKD 13.5 million for the same period in 2020[6] - The total comprehensive income for the six months ended September 30, 2021, was approximately HKD 9.0 million, compared to HKD 13.5 million for the same period in 2020[9] - Basic earnings per share for the six months ended September 30, 2021, was HKD 0.81, down from HKD 1.20 for the same period in 2020[9] - The company recorded a pre-tax profit of approximately HKD 11.1 million for the six months ended September 30, 2021, compared to HKD 16.8 million for the same period in 2020[9] - Revenue for the three months ended September 30, 2021, was HKD 41,534,000, an increase of 5.8% from HKD 38,340,000 in the same period of 2020[26] - Profit for the three months ended September 30, 2021, was HKD 5,604,000, down 36.4% from HKD 8,837,000 in the same period of 2020[32] - Profit for the six months ended September 30, 2021, was HKD 9,038,000, a decrease of 32.5% from HKD 13,451,000 in the same period of 2020[32] Dividends - After considering the financial position and cash flow, the board declared a special dividend of HKD 0.018 per share, totaling approximately HKD 20.2 million[7] - The board proposed a final dividend of HKD 0.006 per share, totaling approximately HKD 6.7 million, which was approved by shareholders[7] - The company did not recommend or declare any interim dividend for the six months ended September 30, 2021[6] - The company paid dividends amounting to HKD 20,160,000 during the financing activities[15] - The company did not declare any interim dividend for the six months ended September 30, 2021, consistent with the previous year[37] - The company paid a special dividend of HKD 0.018 per share, totaling approximately HKD 20,200,000[37] Revenue Breakdown - Retail store sales reached HKD 64,718,000, up 12.7% from HKD 57,755,000 in the previous year[23] - Online store sales decreased to HKD 8,140,000, down 11.8% from HKD 9,224,000 year-on-year[23] - Skincare product revenue for the six months ended September 30, 2021, was HKD 53,374,000, an increase of 8.5% from HKD 49,468,000 in the same period of 2020[29] - Cosmetic product revenue for the six months ended September 30, 2021, was HKD 3,705,000, up 10.8% from HKD 3,346,000 in the same period of 2020[29] Cash Flow and Assets - Net cash generated from operating activities for the six months was HKD 15,912,000, a decrease of 33.4% from HKD 23,977,000 in the prior year[15] - The company reported a net cash and cash equivalents balance of HKD 99,217,000 at the end of the period, a decrease from HKD 110,382,000 at the beginning of the period[15] - Total assets less current liabilities amounted to HKD 138,167,000, down 12.5% from HKD 157,919,000 as of March 31, 2021[11] - The company’s equity totalled HKD 134,373,000, a decrease of 11.7% from HKD 152,215,000 as of March 31, 2021[11] - The company’s total liabilities increased to HKD 28,933,000, up from HKD 23,740,000 as of March 31, 2021[11] Expenses - Total employee costs for the six months ended September 30, 2021, were HKD 15,102,000, an increase of 30.5% from HKD 11,526,000 in the same period of 2020[32] - Sales and distribution expenses increased by approximately HKD 3,000,000 to about HKD 17,100,000 for the six months ended September 30, 2021, representing a rise of approximately 21.3%[59] - Administrative and operating expenses rose by approximately HKD 2,700,000 to about HKD 18,900,000 for the six months ended September 30, 2021, an increase of approximately 17.1%[61] Market Strategy and Expansion - The company plans to continue its market expansion and product development strategies to enhance future growth[6] - The group aims to enhance competitiveness by expanding its sales network, enriching its product portfolio, and developing its e-commerce business[53] - The group successfully identified and rented a suitable location for a new retail store in Kwai Fong, which is expected to open in November 2021[83] - The group has fully utilized funds designated for hiring a store expansion manager and for renovating existing retail stores[85] - The group has completed the upgrade and enhancement of its self-operated online store, integrating it with the sales point system[90] - The group has hired additional staff to handle customer service and orders for the self-operated online store due to anticipated increases in online customer traffic[91] Corporate Governance - The company has established an Audit Committee consisting of three independent non-executive directors to oversee financial reporting and risk management systems[112] - The company has complied with the corporate governance code, with a noted deviation regarding the roles of the Chairman and CEO being held by the same individual, which the board believes is in the best interest of the group[109] - The company emphasizes the importance of good corporate governance standards for protecting shareholder interests and enhancing corporate value[108] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2021[112] Shareholder Information - Prime Era Holdings Limited holds a 49.91% stake in the company, with 559,000,000 shares owned[102] - Ms. Xing Jiajue owns 21.98% of the company, holding 246,190,000 shares[102] - The company has not granted any stock options under its stock option plan since its adoption in January 2018[104] Other Information - The group recorded a loss of approximately HKD 700,000 for the six months ended September 30, 2021, compared to a profit of approximately HKD 2,600,000 in the same period of 2020, primarily due to foreign exchange losses from the depreciation of the AUD against the HKD[58] - The actual tax expenses for the six months ended September 30, 2021, were approximately HKD 2,000,000, with an effective tax rate of about 18.5%[63] - The group has not conducted any significant acquisitions or disposals of subsidiaries or associated companies during the six months ended September 30, 2021[79] - There are no major investment or capital asset plans as of September 30, 2021[80] - The company has maintained a commitment to transparency and accountability in its operations[108]
弥明生活百货(08473) - 2022 - 中期财报