Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 631,392,000, a decrease of 11% compared to HKD 709,590,000 for the same period in 2023[5] - Gross profit for the same period was HKD 478,324,000, down from HKD 528,262,000, reflecting a gross margin decline[5] - The company reported a loss attributable to shareholders of HKD 82,235,000, compared to a profit of HKD 5,367,000 in the prior year[5] - Total comprehensive loss for the period was HKD 125,546,000, compared to a loss of HKD 93,417,000 in the previous year[6] - The total comprehensive income for the six months ended June 30, 2024, was a loss of HKD 178,306,000, compared to a loss of HKD 183,073,000 in the same period of 2023, showing a slight improvement[12] - The company recorded a loss attributable to owners of approximately HKD 82,235,000, compared to a profit of HKD 5,367,000 in the previous year[60] - The loss per share was HKD 0.1947, compared to earnings per share of HKD 0.0127 in the previous year[60] Cash Flow and Assets - The net cash flow from operating activities for the six months ended June 30, 2024, was HKD 9,161,000, significantly lower than HKD 90,976,000 for the same period in 2023, indicating a decrease of approximately 90%[14] - As of June 30, 2024, the cash and cash equivalents balance was HKD 227,835,000, down from HKD 386,093,000 at the end of June 2023, reflecting a decrease of approximately 41%[14] - The company’s total assets as of June 30, 2024, were HKD 2,032,836,000, compared to HKD 2,272,332,000 as of June 30, 2023, indicating a decrease of approximately 10.5%[12] - The company’s net asset value decreased to HKD 2,032,836,000 from HKD 2,158,382,000[9] - The company’s retained earnings as of June 30, 2024, were reported at HKD 1,460,110,000, a decrease from HKD 1,619,827,000 in the same period of 2023, representing a decline of approximately 9.8%[12] Liabilities and Financing - Current liabilities amounted to HKD 364,943,000, slightly up from HKD 359,010,000 at the end of 2023[8] - The company reported a net cash outflow from financing activities of HKD 49,162,000 for the six months ended June 30, 2024, compared to HKD 44,863,000 in the same period of 2023, indicating an increase in cash outflow[14] - The company’s total liabilities as of June 30, 2024, were HKD 1,542,332,000, compared to HKD 1,614,425,000 as of June 30, 2023, indicating a decrease of approximately 4.5%[12] - The company had total bank borrowings of HKD 267,495,000 as of June 30, 2024, compared to HKD 288,312,000 as of December 31, 2023[47] Revenue Breakdown - Revenue from women's lingerie and sleepwear decreased to HKD 547,859 from HKD 612,239, representing a decline of 10.5%[24] - Revenue from the mainland China market was HKD 611,286, down from HKD 686,772, reflecting a decrease of 11%[24] - Revenue from the brand "Anlifan" increased slightly to HKD 385,168 in 2024 from HKD 381,932 in 2023, while revenue from other brands decreased to HKD 243,699 from HKD 325,897[24] - Retail revenue amounted to HKD 393,319,000, down 18.5%, accounting for 62.3% of total revenue; online sales grew by 6.8% year-on-year to HKD 220,159,000, increasing its share of total revenue from 29.0% to 34.9%[71] Market and Strategic Outlook - The company has not provided specific guidance for future performance but indicated ongoing challenges in the market[5] - The company is focusing on enhancing its product offerings and exploring market expansion opportunities[5] - The company anticipates that consumer trends may marginally improve, but the lingerie market's growth rate is expected to lag behind the overall market due to cautious consumer attitudes[88] - Future strategies include expanding into different market segments and strengthening connections with social media and e-commerce platforms to enhance brand visibility and sales[91] Operational Efficiency - The company is committed to enhancing production efficiency and delivery speed by utilizing smart logistics and optimizing the supply chain for sustainable development[91] - The total employee count as of June 30, 2024, was 4,157, a decrease from 4,390 on December 31, 2023, reflecting ongoing adjustments in workforce management[69] - The total employee cost for the period was HKD 210,021,000, down from HKD 228,523,000 in the previous year, indicating cost management efforts[69] Corporate Governance - The independent auditor has reviewed the condensed consolidated financial statements for the six months ended June 30, 2024, in accordance with the relevant standards[112] - The company confirms compliance with all applicable corporate governance code provisions during the reporting period[109] - The company has adopted a code of conduct for securities trading that aligns with the standard set out in the relevant guidelines[110]
安莉芳控股(01388) - 2024 - 中期财报