Financial Performance - The Group's revenue for the six months ended 30 September 2024 was approximately HK$48,551,000, representing an increase of approximately 8.3% compared to the same period of the previous financial year[7]. - The Group's gross profit for the same period was approximately HK$7,849,000, a decrease of approximately HK$3,202,000 compared to the previous financial year[7]. - Profit attributable to owners of the Company for the six months ended 30 September 2024 was approximately HK$4,266,000, compared to a loss of HK$18,583,000 for the same period in 2023[7]. - Profit per share from continuing operations was HK$0.29 cents, compared to a loss of HK(0.31) cents for the same period in 2023[13]. - Total comprehensive income for the period attributable to owners of the Company was HK$4,754,000, compared to a loss of HK$19,130,000 for the same period in 2023[13]. - The Group's profit before tax for the six months ended 30 September 2024 was HK$3,178,000, compared to a loss of HK$5,684,000 for the same period in 2023[11]. - The Group reported a profit of HK$4,266,000 from continuing operations, compared to a loss of HK$4,440,000 for the same period in 2023[13]. - The Group's total comprehensive income for the period was HK$4,754,000, compared to a total comprehensive loss of HK$26,133,000 for the same period in 2023[13]. - The Group recorded a profit of approximately HK$4,266,000 for the six months ended 30 September 2024, compared to a loss of approximately HK$25,655,000 for the same period in 2023[154]. Dividends and Recommendations - The Board does not recommend the payment of any interim dividend for the six months ended 30 September 2024[7]. - The Group did not recommend the payment of an interim dividend for the six months ended 30 September 2024, consistent with the previous year[143]. Assets and Liabilities - Total non-current assets amounted to HK$242,479,000, slightly down from HK$242,495,000[16]. - Current assets totaled HK$114,387,000, a decrease from HK$122,697,000[16]. - Cash and cash equivalents increased significantly to HK$20,774,000 from HK$15,248,000, reflecting a growth of 36.5%[16]. - Total current liabilities decreased to HK$28,020,000 from HK$41,100,000, indicating a reduction of 31.9%[19]. - Net current assets improved to HK$86,367,000 compared to HK$81,597,000, showing a growth of 5.5%[19]. - Total assets less current liabilities reached HK$328,846,000, up from HK$324,092,000, representing an increase of 1.8%[19]. - Total equity stood at HK$328,846,000, consistent with the previous period's figure of HK$324,092,000[19]. - As of September 30, 2024, total assets amounted to HK$356,866,000, a decrease from HK$365,192,000 as of March 31, 2024[60]. - Total liabilities decreased to HK$28,020,000 as of September 30, 2024, compared to HK$41,100,000 as of March 31, 2024[60]. Cash Flow and Financing - Net cash generated from operating activities for the six months ended September 30, 2024, was HK$6,537,000, a significant improvement compared to a net cash used of HK$28,208,000 in the same period of 2023[38]. - Cash and cash equivalents at the end of the reporting period increased to HK$20,774,000 from HK$13,895,000 in the previous year, reflecting a positive cash flow trend[38]. - The company reported a net cash generated from investing activities of HK$5,037,000, compared to HK$40,000 in the same period last year, indicating a substantial increase in investment returns[38]. - Interest paid during the financing activities amounted to HK$249,000, while repayment of lease liabilities was HK$65,000, and repayment to directors was HK$244,000, showing a decrease in financing costs compared to the previous year[38]. Business Segments - The Group's major business segments include trading of gold and jewellery, money lending, property management services, and fintech[49]. - The Group's total revenue for the six months ended September 30, 2024, was HK$44,820,000, with external sales from the Gold and Jewellery Business contributing HK$33,516,000, Lending Business HK$622,000, and Property Management Services HK$10,682,000[55]. - Segment results profit for the Gold and Jewellery Business was HK$3,204,000, Lending Business HK$278,000, and Property Management Services HK$5,672,000, totaling HK$9,154,000[53]. - Revenue from the Group's Jewellery Business increased by HK$6,956,000, while revenue from the Lending Business and Property Management Services decreased by HK$311,000 and HK$2,914,000, respectively[146]. - Revenue from Property Management Services decreased by approximately HK$2,914,000 from approximately HK$10,682,000 (restated) for the six months ended 30 September 2023 to approximately HK$7,768,000 for the six months ended 30 September 2024[187]. Taxation - The Group's income tax expense for the period was HK$1,418,000, compared to HK$3,617,000 for the same period in 2023[11]. - The Group's tax expense for continuing operations in the PRC was HK$1,418,000 for the six months ended 30 September 2024, compared to HK$823,000 in 2023[71]. - The Group did not generate any assessable profits arising in Hong Kong for the six months ended 30 September 2024, thus no Hong Kong profits tax was provided[74]. - The Group's PRC subsidiaries are subject to a 25% enterprise income tax rate for both periods[74]. Operational Developments - The Group completed the disposal of 3,794 ordinary shares in Brillink Holdings Limited on October 5, 2023, resulting in the loss of control over the Fintech Business[51]. - The Group completed the disposal of its Fintech Business on 5 October 2023, which aligns with its long-term strategy to focus on other operations[76]. - The Group acquired Shenzhen China Brilliant Property Services Company Limited to expand its Property Management Services Business[181]. - Shenzhen CBPS became an indirect wholly-owned subsidiary of the Company on October 5, 2023[181]. - The Group plans to identify more jewellery wholesaler customers in South China to expand its sales channels[179]. - The Group aims to increase sales to high-end corporate customers to boost jewellery sales and profitability[179]. Risk Management - The Group does not hold any collateral or other credit enhancements over its loan receivables, indicating a higher risk profile[112]. - CBG Finance conducts thorough credit assessments and due diligence before approving loan applications, ensuring financial stability and risk management[196]. - Monthly reviews of loan performance and overall risk profile will be conducted for CBG Finance's loan portfolios[199]. - CBG Finance has established loan collection and monitoring policies applicable to all loans granted or renewed[199]. - Existing borrower clients of CBG Finance have a satisfactory track record of timely repayments, with no additional debt collection procedures required as of September 30, 2024[199]. Future Outlook - The intelligent industrial zone is identified as a long-term business focus for Shenzhen CBPS, with digital twin technology being a key component of its development strategy[189]. - The Chinese government is encouraging industry development through cost reduction, presenting promising opportunities for the company and its shareholders[190].
朗华国际集团(08026) - 2025 - 中期财报