Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 24,232,000, a decrease of 0.8% compared to HKD 24,422,000 for the same period in 2023[3] - Gross profit for the period was HKD 17,363,000, down from HKD 17,679,000 in the previous year, reflecting a gross margin of approximately 71.7%[3] - The company reported a loss attributable to shareholders of HKD 3,398,000 for the six months ended September 30, 2024, compared to a loss of HKD 3,634,000 in the same period last year[3] - The net loss attributable to shareholders for the period was approximately HKD 3,398,000, compared to a net loss of HKD 3,634,000 for the same period last year[20] - Gross profit decreased from approximately HKD 17,700,000 to about HKD 17,400,000, attributed to a reduction in revenue and a decrease in gross profit margin by 0.7%[25] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 46,242,000, slightly down from HKD 46,610,000 as of March 31, 2024[7] - Current liabilities increased to HKD 42,941,000 from HKD 38,653,000, indicating a rise in operational obligations[7] - The company’s non-current liabilities decreased to HKD 3,221,000 from HKD 4,869,000, showing improved long-term financial stability[7] - Accounts receivable as of September 30, 2024, were HKD 141,000, down from HKD 510,000 as of March 31, 2024, reflecting a decrease in outstanding customer payments[16] Cash and Liquidity - The company’s cash and cash equivalents increased significantly to HKD 41,745,000 from HKD 25,500,000, indicating better liquidity management[7] - The group had cash and bank balances of approximately HKD 42,500,000 as of September 30, 2024, with a capital debt ratio of zero due to no bank loans[34] Other Income and Expenses - Other income increased by approximately HKD 400,000, mainly due to foreign exchange gains from AUD deposits and an increase in interest income, offset partially by a decrease in rental concessions[26] - Employee costs totaled approximately HKD 11,600,000, an increase from HKD 11,500,000 in the previous year, primarily due to hiring more part-time staff[27] Business Performance - The restaurant business in Hong Kong generated revenue of approximately HKD 24,200,000, a decrease of about HKD 200,000 compared to the previous year[31] - The Tsim Sha Tsui restaurant's revenue increased by approximately 13% year-on-year, positively impacted by renovations and promotional activities[31] - The group anticipates improved performance in the restaurant business during the upcoming festive season, despite ongoing challenges from changing consumer patterns and rising costs[40] Corporate Governance - The company has adopted the corporate governance code as per the listing rules, but did not comply with certain provisions regarding the separation of roles between the chairman and CEO until August 16, 2024[43] - The audit committee consists of three independent non-executive directors and has reviewed the interim financial statements for the six months ended September 30, 2024[46] - The remuneration committee is responsible for recommending the remuneration policy for directors and senior management[47] - The nomination committee reviews the board's structure and diversity at least annually to align with the company's business needs and future development[48] - All directors confirmed compliance with the standards for securities trading during the six months ended September 30, 2024[50] Dividends and Securities - The board has resolved not to declare any interim dividend for the six months ended September 30, 2024[38] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended September 30, 2024[42] Reporting - The interim results announcement will be published on the company's website and the stock exchange's website[51] - The company did not recognize any tax provision due to the absence of taxable profits during the reporting periods[17] - Other comprehensive income for the period included a fair value gain of HKD 205,000, compared to a loss of HKD 140,000 in the previous year[5]
环科国际(00657) - 2025 - 中期业绩