Financial Performance - Revenue decreased by 7.5% to HKD 535.53 million compared to HKD 579.10 million in the same period last year[3] - Net profit attributable to shareholders was HKD 7.10 million, down from HKD 28.70 million in the same period last year[3] - Basic earnings per share decreased to 0.60 HK cents from 2.43 HK cents in the same period last year[4] - Total comprehensive income for the period was HKD 8.35 million, down from HKD 26.62 million in the same period last year[10] - Operating profit decreased to HKD 11.71 million from HKD 29.00 million in the same period last year[4] - The group's adjusted profit before tax for the six months ended September 30, 2024, was a loss of HKD 3,589,000, compared to a profit of HKD 1,669,000 in 2023[30] - The group reported a net income of HKD 7,064,000 for the six months ended September 30, 2024, down from HKD 29,572,000 in 2023, a decline of 76.1%[28] - Basic earnings per share for the six months ended September 30, 2024, was HKD 0.006, down from HKD 0.024 in the previous year[37] - The company reported a net loss provision for trade receivables of HKD 1,710,000, compared to HKD 205,000 at the end of the previous period[43] - The income tax expense for the current period totaled HKD 3,589,000, compared to a tax credit of HKD 1,669,000 in the same period last year[32] Revenue and Sales Performance - The group's total revenue for the six months ended September 30, 2024, was HKD 537,521,000, a decrease of 7.7% compared to HKD 582,142,000 for the same period in 2023[28] - The sales from external customers in the product sales segment were HKD 442,650,000 for 2024, down from HKD 463,118,000 in 2023, representing a decline of 5.5%[28] - The service segment reported sales of HKD 10,683,000 in 2024, compared to HKD 13,550,000 in 2023, indicating a decrease of 21.2%[28] - Sales of digital cameras and lenses decreased by 12.2% year-on-year, attributed to limited production capacity despite strong consumer loyalty to FUJIFILM products[57] - Sales of instant cameras, photo printers, and film increased significantly by 26.7% year-on-year, driven by rising inbound tourist numbers and social gatherings[58] - The consumer electronics and home appliances division saw a sales decline of 8.8%, following a 19.9% drop in the previous year, due to post-pandemic consumer behavior and economic slowdown[60] - The B2B commercial and professional audio-visual products division's sales increased by 3.7%, with interactive digital boards seeing a substantial rise of 126.3%[63] - The skincare products division experienced an 8.0% decline in sales, influenced by increased competition and the depreciation of the Japanese yen[64] - The photography and technical services division's sales fell by 22.5%, primarily due to a high comparison base from the previous year and a decline in demand for photo printing[67] - The overall sales of the professional audio-visual consulting and installation services division decreased by 34.1% compared to the same period last year, primarily due to delays in project completions[69] - Sales from government sectors, including hospitals, recorded a notable growth of 77.4%, reflecting increased investments in upgrading video conferencing facilities[69] Financial Position - Cash and bank balances reached HKD 274 million, indicating a stable financial position[3] - The total assets amounted to HKD 936.06 million, slightly down from HKD 941.61 million as of March 31, 2024[15] - Current liabilities totaled HKD 182.30 million, compared to HKD 182.82 million as of March 31, 2024[17] - Trade receivables at the end of the period amounted to HKD 53,347,000, a decrease from HKD 71,305,000 as of March 31, 2024[42] - Trade payables at the end of the period were HKD 54,838,000, a slight decrease from HKD 55,226,000 as of March 31, 2024[50] - The group's trade receivables amounted to HKD 53 million, while inventory was valued at HKD 148 million as of September 30, 2024[74] Dividends and Corporate Governance - The company did not recommend any interim dividend for this period[3] - The company did not recommend any interim dividend for the current period, consistent with the previous year[36] - The board is committed to achieving high standards of corporate governance and has adhered to the principles outlined in the corporate governance code[79][80] Future Outlook and Strategic Initiatives - The group plans to adopt new accounting standards effective from April 1, 2024, which are not expected to have a significant impact on the group's financial position[24] - The company plans to launch a series of new products in the second half of the year, including new FUJIFILM cameras and skincare products[72] - The company is focusing on strategic measures such as negotiating favorable lease agreements and enhancing service quality through training programs[72] - The operational days of the theme park increased from 157 days in the previous year to 175 days, contributing to the growth in imaging service sales[68]
中港照相(01123) - 2025 - 中期业绩