Financial Performance - The group's revenue for the six months ended September 30, 2024, was approximately HKD 83,695,000, a decrease of about 10.36% compared to HKD 93,373,000 for the same period in 2023, primarily due to a decline in revenue from the hemodialysis business[3]. - The profit attributable to the owners of the company for the period was approximately HKD 1,256,000, a significant improvement from a loss of HKD 3,050,000 in the same period last year[3]. - The basic and diluted earnings per share for the period were approximately HKD 0.22, compared to a loss of HKD 0.54 per share in the previous year[3]. - The group reported a gross profit of HKD 26,433,000 for the period, slightly down from HKD 26,669,000 in the previous year[5]. - Operating profit for the period was HKD 2,316,000, compared to an operating loss of HKD 1,994,000 in the same period last year[5]. - The company recorded a total comprehensive income of HKD 2,791,000 for the period, compared to a total comprehensive loss of HKD 7,418,000 in the previous year[5]. - The total comprehensive income for the period ended September 30, 2023, was HKD 2,726,000, compared to HKD 2,791,000 for the same period in 2024[37]. - The company recorded a loss of HKD 3,050,000 for the period, with total comprehensive expenses amounting to HKD 7,419,000[19]. Cash and Liquidity - Total cash and cash equivalents as of September 30, 2024, were approximately HKD 32,062,000, up from HKD 18,228,000 as of March 31, 2024[3]. - The company's cash and cash equivalents increased to HKD 32,062,000 as of September 30, 2023, up from HKD 15,765,000 a year earlier[37]. - The net cash generated from operating activities for the six months ended September 30, 2023, was HKD 10,056,000, compared to HKD 11,159,000 for the same period in 2024[30]. - The company reported a net cash inflow from financing activities of HKD 1,384,000 for the six months ended September 30, 2023, which increased to HKD 1,630,000 in 2024[33]. - The foreign exchange rate changes had a positive impact of HKD 1,019,000 on cash and cash equivalents during the period[36]. Assets and Liabilities - The group's total assets as of September 30, 2024, amounted to HKD 121,187,000, an increase from HKD 117,101,000 as of March 31, 2024[15]. - The total liabilities as of September 30, 2024, were HKD 42,466,000, with classified liabilities of HKD 26,586,000[70]. - Trade receivables as of September 30, 2024, totaled HKD 34,534,000, compared to HKD 37,907,000 as of March 31, 2024[82]. - Trade payables as of September 30, 2024, amounted to HKD 16,887,000, a slight decrease from HKD 17,742,000 as of March 31, 2024[84]. Equity and Shareholder Information - The total equity attributable to the owners of the company increased to HKD 76,949,000 from HKD 73,488,000 as of March 31, 2024[15]. - As of September 30, 2024, Mr. Wang holds a total equity of 168,755,611 shares, representing approximately 30.12% of the issued shares[133]. - Wei Yang Investment Development Limited holds 156,862,198 shares, accounting for approximately 28.00% of the total issued shares[138]. - The total equity held by major shareholders, including Wei Yang and Expert Wealth Investments Limited, is 156,862,198 shares, representing 28.00% of the issued shares[138]. - The shares held by Wei Yang are pledged to Hong Kong Financial Limited, which is fully owned by Expert Wealth Investments Limited[141]. Operational Segments - The company operates primarily in two segments: pharmaceutical wholesale and distribution, and dialysis treatment and consulting services[50]. - Revenue from external customers for the six months ended September 30, 2024, was HKD 83,695,000, with HKD 27,232,000 from pharmaceutical wholesale and distribution, and HKD 56,463,000 from dialysis treatment and consulting services[52]. - The wholesale business generated revenue of approximately HKD 27,232,000, an increase of about 8.33% compared to HKD 25,139,000 in the previous year, with a profit of approximately HKD 225,000[98]. - The dialysis treatment and consultation services business reported revenue of approximately HKD 56,463,000, a decrease of about 17.25% from HKD 68,234,000 in the previous year, with a profit of approximately HKD 7,080,000[99]. - The company plans to focus resources on developing dialysis treatment and consultation services, seeking organic growth and acquisitions to expand operations[101]. Corporate Governance - The company has maintained a high level of corporate governance and has fully complied with the corporate governance code during the reporting period[156]. - The remuneration committee, established on September 24, 2013, includes one executive director and three independent non-executive directors, with the chairman being Dr. Liu Yongping[158]. - The audit committee has reviewed the unaudited consolidated results for the period and confirmed that they are prepared in accordance with applicable accounting standards and regulations[162]. - The company has not established a chairman position since the resignation of the previous chairman in 2014, relying on existing board members to share the responsibilities[156]. - The company will continue to review its corporate governance framework to ensure its effectiveness[156]. Expenses and Costs - Selling and distribution expenses decreased by approximately HKD 4,716,000 or 23.83%, totaling about HKD 15,075,000 for the period[109]. - Administrative expenses were approximately HKD 9,056,000, a reduction of about HKD 2,827,000 or 23.79% compared to the same period in 2023[110]. - The company incurred finance costs of HKD 738,000 during the period, compared to HKD 893,000 in the previous year[72]. - The income tax expense for the period was HKD 256,000, an increase from HKD 146,000 in 2023[74]. Employee Information - The total number of full-time employees decreased to 155 from 193, with total employee costs amounting to approximately HKD 13,360,000[128]. - The total remuneration for key management personnel for the six months ended September 30, 2024, was HKD 1,286,000, down from HKD 1,586,000 in the previous year[94]. Stock Options and Securities - The total number of stock options granted to directors is 10,414,670, while the total for employees is 76,059,222, resulting in a combined total of 86,473,892 options[145]. - As of September 30, 2024, a total of 80,793,054 stock options have been granted under the 2013 stock option plan, with 9,733,832 options remaining outstanding[145]. - The company has the right to grant up to 56,022,213 stock options under the 2023 stock option plan[151]. - No stock options have been granted under the 2023 stock option plan as of the reporting period[151]. - The company did not purchase, sell, or redeem any of its listed securities during the period ending September 30, 2024[152].
万嘉集团(00401) - 2025 - 中期业绩