Financial Performance - For the six months ended September 30, 2024, KFM Kingdom Holdings Limited reported revenue of HKD 376,703,000, an increase of 21.1% compared to HKD 314,091,000 for the same period in 2023[5] - Gross profit for the same period was HKD 67,784,000, slightly up from HKD 66,986,000, resulting in a gross margin of 18%[5] - The company recorded a profit before tax of HKD 26,983,000, down 24.5% from HKD 35,682,000 in the previous year[5] - Net profit for the period was HKD 22,547,000, a decrease of 23.5% compared to HKD 29,430,000 in 2023[5] - Total comprehensive income for the period was HKD 25,557,000, down from HKD 27,262,000 in the same period last year[5] - The company reported a basic and diluted earnings per share of HKD 3.63, down from HKD 4.91 in the previous year[5] - The company recorded a net profit attributable to shareholders of approximately HKD 21.8 million, a decrease from HKD 29.4 million in the same period last year[44] - Profit attributable to owners of the company was approximately HKD 21.8 million, down from about HKD 29.4 million in the previous year[56] Revenue and Costs - Revenue for the six months ended September 30, 2024, was HKD 376,703,000, an increase of 19.9% compared to HKD 314,091,000 for the same period in 2023[18] - The cost of sold inventory for the six months ended September 30, 2024, was HKD 308,919,000, up from HKD 247,105,000 in 2023, reflecting a 24.9% increase[20] - Total sales costs increased by approximately HKD 61.8 million or 25.0% year-on-year, primarily due to rising direct material and labor costs[47] Assets and Liabilities - The company's total assets increased to HKD 842,591,000 as of September 30, 2024, compared to HKD 778,276,000 as of March 31, 2024[7] - Current assets rose to HKD 502,039,000, up from HKD 431,311,000 at the end of the previous fiscal year[7] - Accounts receivable as of September 30, 2024, stood at HKD 161,789,000, an increase from HKD 145,017,000 as of March 31, 2024[28] - The company reported a total inventory of HKD 107,562,000 as of September 30, 2024, compared to HKD 102,855,000 as of March 31, 2024[26] - Accounts payable as of September 30, 2024, amounted to HKD 112.3 million, compared to HKD 87.2 million as of March 31, 2024[34] - The company's total borrowings increased to HKD 82.5 million as of September 30, 2024, from HKD 49.5 million as of March 31, 2024, resulting in a debt-to-equity ratio of 13.3% compared to 8.2%[58] Taxation - The total tax expense for the six months ended September 30, 2024, was HKD 4,436,000, down from HKD 6,252,000 in 2023, indicating a 29.0% decrease[20] - The company has a tax rate of 25% for corporate income tax in China, consistent with the previous year[22] - The company recognized a deferred tax expense of HKD 632,000 for the six months ended September 30, 2024, down from HKD 1,828,000 in 2023[20] - Income tax expenses decreased to approximately HKD 4.4 million from about HKD 6.3 million in the previous year, primarily due to a decrease in taxable profits[55] Operational Highlights - KFM Kingdom Holdings Limited continues to focus on the manufacturing and sales of precision metal stamping products, with plans for market expansion and potential new product development[11] - The company plans to enhance production efficiency to control production costs and improve profit margins while seeking to expand its customer base[70] - The total number of employees increased to 1,057 as of September 30, 2024, compared to 877 employees a year earlier[72] - The company faced pressures from rising labor, material, and production costs due to changes in the product mix and increased assembly processes[42] Dividends and Financial Management - The company plans to pay a final dividend of HKD 0.8 cents per share for the year ending March 31, 2024, totaling HKD 4.8 million[38] - The board does not recommend the payment of any interim dividend during the reporting period[79] Compliance and Governance - The board confirmed that all directors complied with the standards set forth in the code of conduct during the reporting period[78] - The audit committee reviewed the interim condensed financial information and found it to comply with the applicable standards and regulations[80] - There were no significant acquisitions or disposals of subsidiaries or associated companies during the reporting period[81] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's securities during the reporting period[82] - The interim results announcement is available on the company's website and the Hong Kong Stock Exchange website[83]
KFM金德(03816) - 2025 - 中期业绩