Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 150,671,000, a decrease of 20% compared to HKD 188,200,000 for the same period in 2023[6] - Gross profit for the same period was HKD 41,079,000, down 21.5% from HKD 52,398,000 year-on-year[6] - The company reported a net loss of HKD 4,833,000 for the six months ended September 30, 2024, compared to a profit of HKD 946,000 in the previous year[8] - Basic and diluted loss per share was HKD 2.5, compared to HKD 1.1 for the same period last year[6] - The company reported a loss before tax of HKD 2,676,000 for the six months ended September 30, 2024, compared to a profit before tax of HKD 4,008,000 for the same period in 2023[24] - The company recorded a revenue of approximately HKD 151 million for the six months ended September 30, 2024, a decrease of about 19.7% compared to approximately HKD 188 million for the same period last year[48] - Gross profit decreased by approximately 21.2% to about HKD 41 million, with a gross margin of approximately 27.3% compared to 27.8% in the same period last year[49] - Operating loss for the period was approximately HKD 1.2 million, compared to an operating profit of approximately HKD 6.2 million in the same period last year[49] - The company reported a net loss attributable to equity holders of approximately HKD 5 million, compared to a net loss of approximately HKD 2.3 million in the same period last year[52] - Basic loss per share for the period was HKD 0.025, compared to HKD 0.011 in the same period last year[52] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 276,406,000, an increase from HKD 273,883,000 as of March 31, 2024[10] - Total assets as of September 30, 2024, were HKD 276,406,000, while total liabilities were HKD 105,577,000[30] - Cash and bank balances increased to HKD 27,662,000 from HKD 23,658,000 as of March 31, 2024[10] - Non-current assets rose to HKD 60,295,000 from HKD 59,788,000 as of March 31, 2024[10] - The company’s equity attributable to owners increased to HKD 124,123,000 from HKD 113,025,000[12] - Trade receivables as of September 30, 2024, amounted to HKD 25.7 million, down from HKD 27.3 million as of March 31, 2024[45] - Trade payables as of September 30, 2024, were HKD 13.9 million, a decrease from HKD 15.2 million as of March 31, 2024[46] - The total borrowings amounted to approximately HKD 69 million, with a net debt of about HKD 41 million after deducting cash and cash equivalents[65] - The group's net asset to debt ratio decreased to 24% as of September 30, 2024, compared to 25% as of March 31, 2024[65] Revenue Breakdown - Revenue from the electronic and electrical components business was HKD 100,008,000, down 19.5% from HKD 124,179,000 in the previous year[21] - Revenue from computer products and mobile accessories was HKD 29,082,000, a decline of 20.6% from HKD 36,576,000[21] - Revenue from cosmetics and online retail was HKD 21,581,000, down 21.4% from HKD 27,445,000[21] - Revenue from electronic and electrical components trading was approximately HKD 100 million, a decrease of about 19.4% compared to HKD 124 million in the same period last year[54] - The computer retail business recorded revenue of approximately HKD 5 million, down about 28.6% from HKD 7 million in the previous year, while the computer distribution business generated approximately HKD 24 million, a decline of about 20%[56] - Revenue from cosmetics and online retail decreased to approximately HKD 22 million, representing a decline of about 18.5% from HKD 27 million in the previous year[57] Operational Insights - The company generated revenue primarily from Hong Kong, the Asia-Pacific region, South Africa, and Europe[32] - The group expects improved business conditions in 2025 following the conclusion of major elections and a more stable business environment in South Africa[58] - The group employs a total of 345 full-time employees across Hong Kong and overseas subsidiaries as of September 30, 2024[69] Corporate Governance and Compliance - The company will suspend share transfer registration from December 12, 2024, to December 16, 2024, for mid-term dividend eligibility[71] - During the period, the company did not redeem any of its listed shares nor buy or sell any listed shares[72] - The company has adhered to the corporate governance code, with a deviation regarding the rotation of directors every three years[73] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed risk management and internal controls[76] - The interim report will be sent to shareholders and published on the Hong Kong Stock Exchange and the company's website[77] - The company expresses gratitude to all directors and employees for their loyal service and support from clients, suppliers, banks, and shareholders[78] Financing and Costs - The company incurred financing costs of HKD 1,438,000, down from HKD 2,147,000 in the previous year[6] - Total financing costs for the period were approximately HKD 1.4 million, a decrease of about 33.3% from approximately HKD 2.1 million in the same period last year[50] - Employee benefits expenses were HKD 26.1 million, slightly down from HKD 27 million in the previous year[37] Risk Management - The company is currently assessing the potential impact of new Hong Kong Financial Reporting Standards but has not identified any significant effects on its operational performance and financial position[19] - The group has not taken any significant foreign exchange risk measures, as most transactions are denominated in HKD, RMB, and USD[66] - Properties with a book value of approximately HKD 27 million are pledged as collateral for general banking facilities granted to subsidiaries in Singapore, Portugal, and South Africa[67] - As of September 30, 2024, the group has no contingent liabilities[68]
万保刚集团(01213) - 2025 - 中期业绩