Financial Performance - The group's revenue decreased from approximately HK$77,500,000 for the six months ended September 30, 2023, to approximately HK$60,600,000 for the six months ended September 30, 2024, representing a decline of about 21.8%[4] - Gross profit for the six months ended September 30, 2024, was approximately HK$37,200,000, down approximately 24.5% from HK$49,300,000 for the same period in 2023[4] - Profit attributable to owners of the company for the six months ended September 30, 2024, was approximately HK$5,700,000, a decrease of about 46.1% compared to HK$10,600,000 for the same period in 2023[4] - Total comprehensive income for the six months ended September 30, 2024, was HK$6,340,000, compared to HK$10,614,000 for the same period in 2023[7] - The total revenue for the six months ended September 30, 2024, was HKD 60,600,000, a decrease of 21.7% compared to HKD 77,452,000 for the same period in 2023[20] - The profit for the period was HKD 5,726,000, down 46.3% from HKD 10,614,000 in the same period last year[20] - Retail store sales decreased to HKD 46,772,000 from HKD 60,679,000, representing a decline of 23%[20] - Online store sales also fell to HKD 11,508,000 from HKD 13,375,000, a decrease of 13.9%[20] - The company reported a decrease in skincare product sales to HKD 41,146,000 from HKD 50,547,000, a decline of 18.5%[26] - The group's net profit decreased from approximately HKD 10,600,000 for the six months ended September 30, 2023, to approximately HKD 5,700,000 for the six months ended September 30, 2024, representing a decline of about HKD 4,900,000 or approximately 46.1%[68] - The net profit margin fell from approximately 13.7% for the six months ended September 30, 2023, to approximately 9.4% for the six months ended September 30, 2024[68] Dividends and Shareholder Returns - The board declared an interim dividend of HK$0.004 per share for the six months ended September 30, 2024, totaling approximately HK$4,500,000, down from HK$9,000,000 for the same period in 2023[4] - The company paid dividends of HKD 8,960,000, unchanged from the previous year[16] - The interim dividend declared for the six months ended September 30, 2024, is HKD 0.4 per share, a reduction of 50% from HKD 0.8 per share in the same period of 2023, totaling approximately HKD 4,500,000[32] - The interim dividend record date is set for December 20, 2024, with the payment date on January 10, 2025[107] Assets and Liabilities - Current assets decreased from HK$80,387,000 as of March 31, 2024, to HK$61,748,000 as of September 30, 2024[9] - The net asset value as of September 30, 2024, was HK$139,245,000, a slight decrease from HK$141,865,000 as of March 31, 2024[11] - Inventory decreased from HK$11,542,000 as of March 31, 2024, to HK$8,964,000 as of September 30, 2024[9] - Trade receivables decreased from HK$2,396,000 as of March 31, 2024, to HK$1,344,000 as of September 30, 2024[9] - Non-current assets as of September 30, 2024, totaled HKD 72,490,000, a decrease from HKD 75,335,000 as of March 31, 2024, representing a decline of approximately 3.7%[27] - The total cash and bank deposits, along with time deposits maturing in over three months, amounted to HKD 40,100,000 as of September 30, 2024, down from HKD 45,800,000 as of March 31, 2024[70] - The cash and cash equivalents at the end of the period were HKD 39,280,000, down from HKD 44,898,000 at the end of the previous year[16] Expenses and Costs - The group recorded a financing cost of HK$239,000 for the six months ended September 30, 2024, down from HK$331,000 for the same period in 2023[7] - Total employee benefits expenses amounted to HKD 15,088,000, down 13.7% from HKD 17,484,000 in the previous year[29] - Selling and distribution expenses decreased from approximately HKD 18,700,000 to approximately HKD 15,800,000, a reduction of about 15.9%[64] - Administrative and operating expenses decreased from approximately HKD 17,900,000 to approximately HKD 16,800,000, a decline of about 6.3%[65] - Employee costs, including director remuneration, amounted to approximately HKD 15,100,000 for the six months ended September 30, 2024, down from HKD 17,500,000 for the same period in 2023, representing a decrease of about 13.71%[87] Corporate Governance and Compliance - The company has adopted the corporate governance code and has complied with its principles, with a noted deviation regarding the separation of roles between the Chairman and CEO[105] - All directors confirmed compliance with the trading standards as per GEM Listing Rules for the six months ending September 30, 2024[101] - No interests in competing businesses were held by directors or controlling shareholders during the six months ending September 30, 2024[102] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2024[109] Employment and Workforce - As of September 30, 2024, the group employed a total of 78 full-time employees and 12 part-time employees, a decrease from 84 full-time and 14 part-time employees as of September 30, 2023[87] - The remuneration policy is linked to employee and executive performance, with compensation including salary, sales commissions, retirement plan contributions, and discretionary bonuses based on profitability[87] - The remuneration committee reviews the compensation of all executive directors and senior management annually to ensure competitiveness in attracting and retaining talent[87] Investments and Acquisitions - The company has no significant new product launches or acquisitions reported during this period[17] - The group did not engage in any significant acquisitions or disposals of subsidiaries or associated companies during the six months ended September 30, 2024[89] - There are no major investment or capital asset plans as of September 30, 2024[90] Financial Instruments and Income - The company recognized a fair value loss of HKD 109,000 on financial assets measured at fair value through profit or loss[29] - Other income, gains, and losses increased from approximately HKD 400,000 to approximately HKD 2,000,000, an increase of about 357.9%[62] - Interest income related to U.S. Treasury mid-to-long-term financial products for the six months ended September 30, 2024, was approximately USD 29,000 (equivalent to about HKD 200,000)[78] - The total fair value of U.S. Treasury mid-to-long-term financial products was approximately USD 1,800,000 (equivalent to about HKD 14,200,000), representing 9.0% of the group's total assets as of September 30, 2024[78]
弥明生活百货(08473) - 2025 - 中期业绩