Financial Performance - For the six months ended September 30, 2020, the group's revenue was approximately HKD 35.3 million, a decrease of 34.5% compared to HKD 53.9 million for the same period in 2019[18]. - The group reported a net loss of approximately HKD 14.4 million for the six months ended September 30, 2020, compared to a net loss of HKD 4.3 million for the same period in 2019, representing an increase in loss of 235.3%[18]. - Revenue from treatment services for the six months ended September 30, 2020, was HKD 33,811,000, a decrease of 34.2% compared to HKD 51,302,000 in 2019[41]. - Sales of skincare products dropped to HKD 482,000, down 76.0% from HKD 2,004,000 in the previous year[41]. - The company recorded a total comprehensive loss of HKD 14,385,000 for the six months ended September 30, 2020[27]. - The company reported a loss before tax of HKD 14,385,000 for the six months ended September 30, 2020, compared to a loss of HKD 4,296,000 in 2019[52]. Dividends and Equity - The board of directors did not recommend the payment of dividends for the six months ended September 30, 2020, consistent with the previous year where no dividends were declared[18]. - The company's net asset value decreased to HKD 24,484,000 as of September 30, 2020, down from HKD 38,869,000 as of March 31, 2020, reflecting a decline of 37%[24]. - The total equity as of September 30, 2020, was HKD 24,484,000, a decrease of 37% compared to HKD 38,869,000 as of March 31, 2020[24]. - The company did not recommend any interim dividend for the six months ended September 30, 2020, consistent with the previous year[92]. Assets and Liabilities - Total assets less current liabilities amounted to HKD 74.0 million as of September 30, 2020, compared to HKD 72.6 million as of March 31, 2020[22]. - As of September 30, 2020, the company's non-current liabilities increased to HKD 49,543,000 from HKD 33,727,000 as of March 31, 2020, representing a 47% increase[24]. - The group’s total outstanding debt amounted to HKD 87.2 million as of September 30, 2020, an increase from approximately HKD 56.7 million as of March 31, 2020[87]. - The debt-to-equity ratio as of September 30, 2020, was 356.1%, significantly increased from 145.9% as of March 31, 2020[120]. Employee Costs and Operations - The group's employee costs decreased to HKD 18.4 million for the six months ended September 30, 2020, down from HKD 23.4 million in the same period of 2019, a reduction of 21.4%[20]. - The total employee costs for the six months ended September 30, 2020, were HKD 18,433,000, a decrease of 21.2% from HKD 23,426,000 in 2019[45]. - The number of employees increased from 76 to 117 during the period, reflecting the opening of three new medical beauty centers[106]. - The company temporarily closed its medical beauty centers for a total of 72 days due to COVID-19, significantly impacting revenue[73]. Cash Flow and Financial Resources - The net cash used in operating activities for the six months ended September 30, 2020, was HKD (7,212,000), compared to HKD (23,547,000) for the same period in 2019, showing an improvement of 69%[29]. - The company continues to believe it has sufficient financial resources to meet its obligations for the next twelve months[32]. - Cash and cash equivalents as of September 30, 2020, were HKD 4,609,000, down from HKD 10,005,000 as of September 30, 2019, indicating a decline of 54%[29]. Government Support and Other Income - Other income, including government subsidies, amounted to HKD 7,496,000, compared to HKD 775,000 in 2019, indicating a significant increase[44]. - Other income increased to approximately HKD 7.5 million from HKD 0.8 million, primarily due to government subsidies under the anti-epidemic fund[78]. Capital Expenditures and Investments - The total cost of property, plant, and equipment purchased during the six months was approximately HKD 3,356,000, a significant decrease from HKD 20,913,000 in 2019[54]. - Capital expenditures for the six months ended September 30, 2020, were approximately HKD 3.4 million, significantly lower than HKD 20.9 million for the same period in 2019[91]. - The company has no plans for significant investments or capital assets as of September 30, 2020[98]. Governance and Compliance - The company has maintained compliance with corporate governance codes and has established an audit committee to oversee financial reporting[128]. - The company has a strong governance structure with Mr. Ye serving as the Chairman and Executive Director[147]. Shareholding and Directors - As of September 30, 2020, Mr. Ye and Ms. Fu each hold 600,000,000 shares in Equal Joy, representing a 75% equity interest[135]. - Equal Joy is jointly owned by Mr. Ye and Ms. Fu, each holding a 50% beneficial interest in the total issued shares[136]. - No other directors or key executives have disclosed any interests or short positions in the company's shares or related securities as of September 30, 2020[138]. - No directors or their associates have engaged in any business that directly or indirectly competes with the group during the reporting period[146].
亮晴控股(08603) - 2021 - 中期财报