Financial Performance - For the six months ended September 30, 2019, the company's revenue was HKD 42,256,000, a decrease of 27% compared to HKD 57,953,000 for the same period in 2018[5]. - Gross profit for the same period was HKD 13,187,000, down 19% from HKD 16,404,000 year-over-year[5]. - The company reported a loss of HKD 521,000 for the six months ended September 30, 2019, compared to a loss of HKD 1,460,000 in the same period of 2018[5]. - Total comprehensive loss for the period was HKD 1,358,000, compared to a loss of HKD 2,293,000 in the prior year[7]. - The company reported a basic and diluted loss per share of HKD 0.05 for the six months ended September 30, 2019, compared to a loss of HKD 0.19 in the same period of 2018[5]. - The company reported a total comprehensive loss of HKD 2,293,000 for the six months ended September 30, 2019, compared to a loss of HKD 1,460,000 in the previous period[15]. - The company recorded a net profit attributable to owners of approximately HKD 0.07 million, compared to a net loss of HKD 1.5 million in the same period of 2018[99]. Assets and Liabilities - Non-current assets increased to HKD 31,077,000 as of September 30, 2019, from HKD 25,005,000 as of March 31, 2019[9]. - Current assets decreased to HKD 80,210,000 from HKD 112,043,000 over the same period[9]. - The company's total assets less current liabilities stood at HKD 91,456,000 as of September 30, 2019, compared to HKD 90,175,000 as of March 31, 2019[11]. - The company's equity total was HKD 83,607,000 as of September 30, 2019, an increase from HKD 82,627,000 as of March 31, 2019[11]. - Trade receivables as of September 30, 2019, were HKD 11,445,000, a decrease from HKD 42,970,000 as of March 31, 2019, indicating a reduction in outstanding receivables[54]. - Trade payables as of September 30, 2019, were HKD 14,048,000, down from HKD 44,516,000 as of March 31, 2019, showing a decrease in liabilities[59]. - The total assets and total liabilities were approximately HKD 111.3 million and HKD 27.7 million, respectively, as of September 30, 2019[100]. Cash Flow and Financing - Cash generated from operating activities for the six months ended September 30, 2019, was HKD 2,388,000, a decrease from HKD 2,740,000 in the same period of 2018[21]. - The net cash used in investing activities was HKD 3,730,000 for the six months ended September 30, 2019, compared to HKD 2,815,000 in the previous year[21]. - The cash and cash equivalents at the end of the reporting period were HKD 50,159,000, compared to HKD 17,884,000 at the end of the previous period[21]. - The company incurred financing costs of HKD 321,000 for the six months ended September 30, 2019, compared to HKD 88,000 in the same period of 2018[5]. - The financing cost for financial liabilities was HKD 307 for the six months ended September 30, 2019, up from HKD 88 in 2018[41]. - The company incurred capital expenditures of approximately HKD 3,423,000 on property, plant, and equipment for the six months ended September 30, 2019, compared to HKD 2,603,000 in the same period of 2018[51]. Revenue Sources - Revenue from external customers in Thailand for the six months ended September 30, 2019, was HKD 42,256, a decrease of 27% compared to HKD 57,953 for the same period in 2018[36]. - Merchant acquiring transaction fee income was approximately HKD 31.9 million, down about 29.3% from HKD 45.1 million in 2018, primarily due to a decrease in the number of Chinese tourists visiting Thailand[91]. - Forex discount income was approximately HKD 9.4 million, a decrease of about 26.6% from HKD 12.8 million in 2018[91]. - General administrative expenses increased by approximately 64.6% to HKD 7.9 million, primarily due to increased salaries and benefits for directors and employees[95]. Employee and Management Costs - Employee costs, including management remuneration, totaled HKD 4,050 for the six months ended September 30, 2019, compared to HKD 2,014 in 2018, indicating a significant increase[41]. - The total employee cost for the six months ended September 30, 2019, was approximately HKD 4.1 million, compared to HKD 2.0 million in 2018[113]. - The company’s management personnel compensation for the six months ended September 30, 2019, totaled HKD 1,244,000, an increase from HKD 288,000 in the same period of 2018[76]. - The company employed a total of 26 employees as of September 30, 2019, an increase from 23 employees as of March 31, 2019[113]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, with a deviation noted in section A.2.1 regarding the roles of the Chairman and CEO[126]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements for the six months ended September 30, 2019, confirming compliance with applicable accounting standards[136]. - No share options have been granted since the adoption of the share option scheme on September 18, 2018, and there were no outstanding share options as of September 30, 2019[134]. Future Plans and Investments - The company plans to expand its payment processing services to other payment network organizations, with an allocated budget of HKD 15.1 million, of which HKD 6.0 million has been utilized[115]. - The company aims to expand into Cambodia with a budget of HKD 6.6 million, which has not yet been utilized[115]. - The company has entered into a conditional share purchase agreement to acquire 33% of the issued share capital of a target company for a total consideration of HKD 2.2 million, which is engaged in developing e-commerce applications[85].
东方支付集团控股(08613) - 2020 - 中期财报