Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 59,027 thousand, an increase from HKD 47,566 thousand in the same period last year, representing a growth of approximately 24%[4] - The gross profit for the same period was HKD 11,461 thousand, down from HKD 18,041 thousand, indicating a decline of about 36%[4] - The company recorded a net profit of HKD 1,536 thousand for the period, compared to a loss of HKD 622 thousand in the previous year, marking a significant turnaround[4] - Basic and diluted earnings per share were HKD 0.13, compared to a loss per share of HKD 0.05 in the prior year[4] - The group reported a total revenue of HKD 59,027,000 for the six months ended September 30, 2024, compared to HKD 103,294,000 for the same period in 2023, reflecting a decrease of approximately 42.9%[18] - Revenue from ODM toy sales to licensed holders was HKD 27,789,000 for the six months ended September 30, 2024, down from HKD 51,738,000 in the same period last year, representing a decline of about 46.3%[18] - Revenue from self-branded licensed toys was HKD 9,588,000 for the six months ended September 30, 2024, compared to HKD 16,285,000 in the previous year, indicating a decrease of approximately 41.2%[18] - The group’s gross profit decreased by approximately 36.5% to about HKD 11,461,000, with a gross profit margin increasing from approximately 17.5% to 19.4%[59] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 198,725 thousand, slightly up from HKD 196,656 thousand as of March 31, 2024[5] - The company’s total liabilities increased to HKD 36,578 thousand from HKD 25,225 thousand, representing a rise of approximately 45%[5] - As of September 30, 2024, total equity decreased to HKD 195,492 thousand from HKD 196,114 thousand as of April 1, 2023, reflecting a loss of HKD 622 thousand during the period[8] - The group’s total current assets, excluding financial instruments, amounted to HKD 17,263,000 as of September 30, 2024, compared to HKD 18,213,000 in the previous year[21] - Trade receivables decreased to HKD 11,647 thousand from HKD 21,892 thousand, indicating a reduction of about 47%[5] - The company’s retained earnings decreased to HKD 108,372 thousand from HKD 108,994 thousand, indicating a reduction in accumulated profits[8] Cash Flow - Net cash generated from operating activities was HKD 16,606 thousand, a significant improvement compared to a net cash outflow of HKD 10,349 thousand in the same period last year[9] - Cash and cash equivalents increased to HKD 89,707 thousand at the end of the period, up from HKD 23,514 thousand at the beginning of the period[9] - The company reported a net cash inflow from investing activities of HKD 51,377 thousand, compared to HKD 15,803 thousand in the previous year[9] - Interest income received during the period was HKD 1,984 thousand, an increase from HKD 830 thousand in the same period last year[9] Business Strategy and Operations - The company plans to continue focusing on market expansion and new product development to drive future growth[4] - The company continues to focus on its core business of designing, marketing, distributing, and retailing toys and related products[10] - The group is currently evaluating the impact of newly issued but not yet effective Hong Kong Financial Reporting Standards on its financial statements[16] - The group aims to leverage its advantages, particularly its diverse high-end toy product range, to achieve further business breakthroughs in the future[74] Governance and Compliance - The company’s board has approved the financial results after reasonable inquiries, ensuring the accuracy and completeness of the information provided[2] - The financial report indicates that the company is adhering to the same accounting policies as in the previous fiscal year, with no significant changes expected[12] - The board believes that the dual role of the chairman and CEO is beneficial for the management and business development of the group[85] - The audit committee has reviewed the unaudited condensed consolidated financial statements and believes they comply with applicable accounting standards and GEM listing rules[86] - The company has adhered to the corporate governance code and has not encountered any non-compliance issues during the reporting period[85] Employee and Customer Information - The group employed 33 employees in Hong Kong as of September 30, 2024, down from 35 employees on March 31, 2024[70] - Major customer A generated revenue of HKD 28,298 million for the six months ended September 30, 2024, down from HKD 53,712 million in the same period in 2023[25] - The group’s top five customers accounted for approximately 60% of total revenue, a slight decrease from 62% in the same period last year[18] Share Capital and Dividends - As of September 30, 2024, the issued share capital of the company is HKD 11,923,077, divided into 1,192,307,692 shares[77] - The board does not recommend the payment of an interim dividend for the period, consistent with the previous year[71] - The company has not declared or paid any dividends as of September 30, 2024, and September 30, 2023[51]
佰悦集团(08545) - 2025 - 中期业绩