Financial Performance - For the six months ended September 30, 2024, revenue increased by 23.2% to HKD 154.9 million from HKD 125.7 million for the same period in 2023[1]. - Gross profit for the six months ended September 30, 2024, rose by 14.0% to HKD 52.0 million, with a gross profit margin decreasing by 2.7% to 33.6%[1]. - Profit attributable to equity holders increased by 25.1% to HKD 22.9 million, with a profit margin increasing by 0.2% to 14.8%[1]. - Earnings per share for the six months ended September 30, 2024, was HKD 1.8 cents, up from HKD 1.4 cents for the same period in 2023[4]. - Total comprehensive income for the period amounted to HKD 22.4 million, compared to HKD 13.8 million for the same period in 2023[4]. - The company reported operating profit of HKD 24.46 million for the six months ended September 30, 2024, up from HKD 19.31 million for the same period in 2023[6]. - The company’s financial income for the period was HKD 5.23 million, compared to HKD 4.34 million for the same period in 2023[6]. - Total operating expenses for the six months ended September 30, 2024, were HKD 132,634,000, an increase of 20.8% compared to HKD 109,767,000 for the same period in 2023[22]. - Cost of goods sold increased to HKD 68,758,000 for the six months ended September 30, 2024, from HKD 51,395,000 in the prior year, representing a 33.9% increase[22]. - The income tax expense for the six months ended September 30, 2024, was HKD 6,679,000, compared to HKD 5,386,000 for the same period in 2023, indicating a 24.0% increase[25]. Revenue Breakdown - The revenue from personal care appliances, specifically the hair care series, reached HKD 142,971,000, up 26.6% from HKD 112,907,000 in the previous year[18]. - Revenue from the United States increased significantly to HKD 66,851,000, compared to HKD 32,617,000 in the same period last year, representing a growth of 104.5%[19]. - The revenue from Japan was HKD 72,703,000, showing a decrease of 6.5% from HKD 77,891,000 in the same period last year[19]. - The company’s total revenue from other categories, including tools and accessories, was HKD 3,449,000, up from HKD 2,395,000 in the previous year[18]. Assets and Liabilities - The total assets as of September 30, 2024, were HKD 505.99 million, an increase from HKD 475.92 million as of March 31, 2024[8]. - Total liabilities as of September 30, 2024, were HKD 68.75 million, compared to HKD 61.81 million as of March 31, 2024[8]. - Trade receivables as of September 30, 2024, amounted to HKD 79,993,000, significantly higher than HKD 53,619,000 as of March 31, 2024, representing a 48.9% increase[31]. - Trade payables as of September 30, 2024, were HKD 31,832,000, compared to HKD 25,843,000 as of March 31, 2024, reflecting a 23.0% increase[32]. Dividends and Shareholder Information - The board has resolved not to declare an interim dividend for the six months ended September 30, 2024[1]. - The company did not declare any interim dividend for the six months ended September 30, 2024, consistent with the previous year[29]. - As of September 30, 2024, directors and executives hold significant shares, with Mr. Li Shuye owning approximately 36.7% of the company[74]. - Ace Champion holds 468,750,000 shares, representing approximately 36.7% of the company's issued share capital[79]. - 永金有限公司 also holds 468,750,000 shares, accounting for about 36.7% of the company's issued share capital[79]. Corporate Governance - The company has maintained compliance with all corporate governance codes during the reporting period[83]. - The roles of Chairman and CEO are currently held by the same individual, 李舒野, which the company believes provides strong and stable leadership[84]. - The company has established an audit committee consisting of three independent non-executive directors[96]. - The audit committee reviewed the interim financial results and confirmed compliance with applicable accounting standards and listing rules[96]. Future Outlook and Strategy - The group aims to expand its beauty care product offerings in the second half of fiscal year 2025 to provide a more diversified product mix[43]. - The group continues to face significant challenges from geopolitical tensions, high interest rates, and inflation, which may impact performance in the second half of fiscal year 2025[42]. - The group plans to improve and simplify its business model and strategies, focusing on supply chain management and strict cost control measures[43]. - The group will actively seek growth opportunities through new customers and product innovations in its ODM business[43]. - The group will continue to closely monitor industry developments and regularly review its business expansion plans[62]. Cash and Financing - As of September 30, 2024, the group maintained cash and bank balances of approximately HKD 269.0 million, an increase from HKD 253.6 million as of March 31, 2024[54]. - The group had no bank borrowings as of September 30, 2024, consistent with the previous period[55]. - The group has unutilized bank financing of approximately HKD 34.5 million, secured by properties with a net book value of approximately HKD 3.4 million and HKD 566,000[55]. - The asset-to-liability ratio was zero as of September 30, 2024, unchanged from March 31, 2024[56]. Employee and Operational Costs - Total employee costs during the reporting period amounted to approximately HKD 33.1 million, compared to HKD 27.0 million in the first half of 2024[63]. - Administrative expenses increased by approximately HKD 2.5 million (about 14.7%) to approximately HKD 19.5 million, mainly due to the expansion of OBM business[48]. - Sales and distribution expenses decreased by approximately HKD 1.7 million (about 20.2%) to approximately HKD 6.7 million, primarily due to reduced promotional expenses for own brand products[47]. Investments and Capital Expenditure - The group has capital commitments of approximately HKD 0.5 million for properties, plants, and equipment as of September 30, 2024, up from HKD 0.2 million as of March 31, 2024[59]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[90]. - The company confirms that there are no changes in director information that require disclosure under the listing rules[89].
科利实业控股(01455) - 2025 - 中期业绩