Revenue Performance - Total revenue for the six months ended September 30, 2024, was approximately HKD 26.8 million, an increase of about 18.9% compared to approximately HKD 22.6 million in the same period last year[25]. - Revenue from home goods exports contributed approximately 92.3% to total revenue, amounting to about HKD 24.8 million, which is an increase of approximately 23.6% from the previous period[26]. - E-commerce revenue decreased to approximately HKD 1.3 million, down about 24.2% from approximately HKD 1.7 million in the previous period[26]. - Revenue from proprietary brand products was approximately HKD 0.8 million, a decrease of about 6.5% from approximately HKD 0.9 million in the previous period[26]. - Revenue for the period was approximately HKD 26.8 million, an increase of about 18.9% compared to approximately HKD 22.6 million in the previous period, primarily due to increased sales orders in the home goods export business[30]. - Revenue from home goods sales for the six months ended September 30, 2024, was HKD 26,836,000, an increase of 19.4% from HKD 22,565,000 in the same period of 2023[126]. - The revenue from Denmark increased to HKD 9,715,000, a substantial rise of 133.5% compared to HKD 4,153,000 in 2023[130]. - Revenue from Australia surged to HKD 1,500,000, increasing by 208.3% from HKD 486,000 in the previous year[130]. Profitability and Loss - The company recorded a loss attributable to owners of approximately HKD 0.1 million for the period, a significant improvement from a loss of approximately HKD 3.8 million in the previous period[28][42]. - Gross profit rose by approximately 17.8% to about HKD 8.3 million, with a slight decrease in gross margin from approximately 31.0% to 30.7% due to inventory impairment[35]. - The operating loss decreased significantly to HKD 91,000 from HKD 3,802,000 in the previous year, showing an improvement in operational efficiency[92]. - The loss attributable to the owners of the company for the period was HKD 102,000, a substantial reduction from HKD 3,833,000 in the prior year[92]. - Total comprehensive income attributable to the company's owners for the period was HKD (281,000), a notable recovery from HKD (3,589,000) in the previous year[95]. Expenses and Costs - The cost of sales increased by approximately 19.4% to about HKD 18.6 million, aligning with the revenue growth[33]. - Selling and distribution expenses decreased by approximately 24.8% to about HKD 3.9 million, attributed to reduced advertising and promotional costs[37]. - The cost of home goods rose to HKD 16,572,000 for the six months ended September 30, 2024, compared to HKD 13,781,000 for the same period in 2023, representing an increase of approximately 20.4%[150]. Financial Position - The company’s cash and bank balance as of September 30, 2024, was approximately HKD 14.9 million, up from approximately HKD 13.7 million as of March 31, 2024[43]. - The debt-to-equity ratio decreased to approximately 0.5% from about 1.9%, primarily due to the repayment and amortization of lease liabilities[46]. - The company's total assets amounted to HKD 27,678,000 as of September 30, 2024, compared to HKD 26,152,000 at the end of March 2024, indicating asset growth[98]. - The company has maintained a stable equity position with total equity at HKD 21,220,000 as of September 30, 2024, slightly down from HKD 21,501,000[98]. Operational Highlights - The company continues to focus on home goods exports, which remain the primary source of revenue[25]. - The increase in home goods export sales was attributed to a rise in orders from European clients during the current period[26]. - The company plans to continue expanding its product range and sales network to enhance revenue and profitability despite a challenging operating environment[29]. - The company is focused on expanding its e-commerce business and enhancing its product offerings in the home goods sector[114]. Governance and Compliance - The company is committed to providing accurate and complete information in accordance with GEM listing rules[7]. - The company has adopted the corporate governance code as per GEM listing rules, although it has not separated the roles of Chairman and CEO[73]. - The company has established an audit committee in compliance with GEM listing rules, ensuring adherence to corporate governance standards[87]. - The company has implemented a code of conduct for directors' securities transactions, ensuring compliance with GEM listing rules[74]. Shareholder Information - Major shareholders include Hearthfire Limited with a 61.125% stake and Present Moment Limited with an 8.625% stake, indicating strong insider ownership[82]. - The board of directors remains stable, with no significant changes reported, ensuring continuity in leadership and strategic direction[90]. Cash Flow and Receivables - Cash and cash equivalents increased to HKD 14,889,000 as of September 30, 2024, up from HKD 13,651,000 at the end of March 2024, reflecting a positive cash flow trend[111]. - Net cash generated from operating activities was HKD 1,445,000 for the six months ended September 30, 2024, a significant turnaround from cash used of HKD (8,112,000) in the prior year[111]. - Trade receivables increased to HKD 11,066,000 as of September 30, 2024, compared to HKD 10,180,000 at the end of March 2024, indicating growth in sales[98]. - The total trade receivables and notes receivable amounted to HKD 11,066,000 as of September 30, 2024, compared to HKD 10,180,000 as of March 31, 2024, reflecting an increase of approximately 8.7%[158]. Inventory and Liabilities - Inventory decreased to HKD 297,000 from HKD 994,000, suggesting improved inventory management[98]. - Current liabilities rose to HKD 6,709,000 from HKD 5,243,000, reflecting increased operational activities[98]. - Trade payables increased to HKD 4,699,000 as of September 30, 2024, from HKD 3,303,000 as of March 31, 2024, indicating a rise of about 42.3%[166]. Other Financial Metrics - Other income and net gains increased from approximately HKD 0.2 million to about HKD 1.3 million, mainly due to government subsidies of approximately HKD 0.8 million[36]. - Government subsidies recognized during the period amounted to HKD 826,000, significantly up from HKD 63,000 in the previous year, reflecting a growth of 1166.7%[126]. - Interest income decreased to HKD 275,000 from HKD 391,000, representing a decline of 29.7%[126]. - The company recorded a net foreign exchange loss of HKD 109,000 for the current period, contrasting with a gain of HKD 359,000 in the previous period[150].
舍图控股(08392) - 2025 - 中期业绩