Financial Performance - For the six months ended September 30, 2024, the operating revenue was HKD 337,849,000, a slight decrease of 0.05% compared to HKD 338,010,000 in the same period last year[4][11] - Profit attributable to shareholders increased by 17% to HKD 35,816,000 from HKD 30,715,000 year-on-year[5][11] - Basic and diluted earnings per share rose to HKD 4.79, up 17% from HKD 4.11 in the previous year[7][11] - The total comprehensive income for the period was HKD 43,575,000, significantly higher than HKD 21,596,000 in the previous year, driven by foreign exchange gains[13][11] - The company reported a net profit of HKD 35,816,000 for the period, after accounting for income tax expenses of HKD 21,717,000[32] - The pre-tax profit for the six months ended September 30, 2024, was HKD 35,816,000, compared to HKD 30,715,000 for the same period in 2023, representing an increase of approximately 16.8%[48] - The group recorded a net profit of HKD 36 million for the period, compared to HKD 31 million in the same period last year[68] Assets and Liabilities - Total assets decreased by 5% to HKD 737,000,000 from HKD 773,000,000 as of March 31, 2024[9][11] - Total assets as of September 30, 2024, amounted to HKD 736,580,000, with segment assets for watch sales at HKD 359,414,000 and leasing properties at HKD 360,722,000[34] - The total liabilities as of September 30, 2024, were HKD 274,488,000, with segment liabilities for watch sales at HKD 210,690,000 and leasing properties at HKD 24,528,000[34] - Trade receivables from third parties decreased to HKD 46,098,000 as of September 30, 2024, from HKD 64,296,000 as of March 31, 2024, a decline of approximately 28.4%[53] - Total trade and other payables were HKD 82,134,000 as of September 30, 2024, slightly down from HKD 83,041,000 as of March 31, 2024, indicating a decrease of about 1.1%[56] Revenue and Sales - For the six months ended September 30, 2024, external revenue totaled HKD 337,849,000, a slight decrease from HKD 338,010,000 for the same period in 2023[39] - The group's revenue for the six months ended September 30, 2024, was HKD 338 million, unchanged from the previous year, with sales from China remaining stable[67] - Sales in Hong Kong and China were HKD 5 million and HKD 333 million, representing a decrease of 11% and a slight increase of 0.2% respectively compared to the same period last year[67] Costs and Expenses - Gross profit for the period was HKD 109,639,000, down from HKD 111,737,000, reflecting a decrease in gross margin[11] - The gross profit margin for the period was 32%, slightly down from 33% in the previous year[67] - Distribution costs increased by 4% to HKD 48 million, primarily due to rising rental and employee expenses[67] - Administrative expenses decreased by 39% to HKD 11 million, influenced by a foreign exchange gain of HKD 6 million from property investments in the UK[68] - The total cost of inventory recognized as an expense was HKD 228,210,000 for the six months ended September 30, 2024, slightly up from HKD 226,273,000 in 2023, showing a marginal increase of 0.9%[43] Cash Flow and Liquidity - The company reported a decrease in cash and cash equivalents to HKD 126,415,000 from HKD 164,940,000, indicating a reduction in liquidity[15][11] - As of September 30, 2024, total cash reserves were HKD 126 million, down from HKD 165 million as of March 31, 2024, mainly due to loan repayments and dividend payments[69] - The group's bank borrowings amounted to HKD 119 million as of September 30, 2024, compared to HKD 159 million as of March 31, 2024[69] Business Operations - The company continues to focus on watch sales and property leasing as its primary business activities, with no new product launches or major acquisitions reported during this period[19][11] - The operating profit for the watch sales segment was HKD 50,406,000, while the leasing segment reported an operating profit of HKD 5,554,000, resulting in a total operating profit of HKD 55,960,000[32] - The group is currently operating five stores in China and aims to enhance cost efficiency while focusing on core store operations[72] - The group is committed to strengthening its financial position and is confident in improving business performance while adopting a prudent approach to future expansions[72] Governance and Compliance - The company has adopted a code of conduct for directors regarding securities trading, which meets or exceeds the standards set out in the listing rules[78] - All directors confirmed compliance with the code of conduct during the review period[79] - The board has decided not to declare an interim dividend for the six months ending September 30, 2024 (2023: none)[80] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the six months ending September 30, 2024[81] Employee Information - As of September 30, 2024, the group employed a total of 106 employees, offering competitive compensation packages in line with market trends[82]
ASIA COMM HOLD(00104) - 2025 - 中期业绩