Financial Performance - Revenue for the six months ended 30 September 2024 was approximately HK$21,722,000, a decrease from approximately HK$48,578,000 for the same period last year, representing a decline of about 55.3%[7] - Loss attributable to owners of the Company was approximately HK$2,557,000 for the six months ended 30 September 2024, compared to a loss of approximately HK$2,367,000 for the same period last year, indicating an increase in loss of about 8%[7] - The Group's gross profit for the six months ended 30 September 2024 was approximately HK$7,041,000, down from HK$11,273,000 in the previous year[84] - Total comprehensive loss for the period was approximately HK$1,333,000, compared to a total comprehensive loss of HK$7,238,000 for the same period last year[87] - Consolidated profit before tax for the six months ended September 30, 2024, was a loss of HK$3,865,000, compared to a profit of HK$769,000 for the same period in 2023[127] Revenue Sources - Revenue from intelligent advertising and railroad media services for the six months ended September 30, 2024, amounted to approximately HK$20,943,000[28] - The Group's agricultural and forestry products revenue for the same period was approximately HK$2,000, reflecting a decline in demand due to sluggish consumer spending[29] - The supply-chain business reported no revenue for the six months ended September 30, 2024, with net vehicle sales income of approximately HK$38,000[35] - Short-term leasing of the commercial portion of the property generated revenue of approximately HK$777,000 for the six months ended September 30, 2024[41] Market Conditions - The domestic tourism market in China has shown full recovery, with travel volumes reaching approximately 85% of pre-pandemic levels in Q3 2024, totaling around 1.1 billion domestic tourist trips[13] - Analysts project a prolonged downturn in the Chinese property market that may not stabilize until late 2025, with new home sales volumes expected to fall to less than half of 2021 levels[19] - Property values are at risk of further declines of 20-25%, potentially dropping to about half of their peak prices, amidst ongoing financial distress among developers[19] - The outlook for the agricultural sector remains pessimistic due to environmental factors, economic pressures on smaller producers, and potential trade tensions, particularly with the U.S.[14] Investment and Growth Strategies - The Group is actively seeking investment opportunities in the New Energy Vehicles (NEV) industry to capitalize on the growing demand for eco-friendly transportation solutions[35] - The Group is exploring applications of its AI and Big Data platforms to diversify revenue streams and enhance investment decision-making capabilities[23] - The Group is investigating potential applications in the short video and social media sectors to uncover additional growth opportunities[24] - The Group plans to explore investment opportunities in resilient sectors to diversify and enter high-growth areas[48] Financial Position - As of September 30, 2024, the Group's cash and bank deposits amounted to approximately HK$5,929,000, a decrease of approximately 27.34% from HK$8,160,000 as of March 31, 2024[60] - The Group had net current liabilities of approximately HK$67,542,000 as of September 30, 2024, compared to HK$62,293,000 as of March 31, 2024[60] - The Group's non-current assets totaled approximately HK$80,359,000 as of 30 September 2024, an increase from HK$76,799,000 as of 31 March 2024[89] - Current liabilities amounted to approximately HK$195,152,000 as of 30 September 2024, compared to HK$191,158,000 as of 31 March 2024[89] Operational Efficiency - Administrative and other operating expenses for the same period amounted to approximately HK$10,967,000, representing a decrease of approximately 1.51% from HK$11,135,000 in the previous year[77] - Staff costs, including directors' remuneration, amounted to HK$5,820,000 for the six months ended September 30, 2024, compared to HK$14,681,000 in the same period of 2023, indicating a reduction of approximately 60.3%[133] - Unallocated corporate expenses for the six months ended September 30, 2024, were HK$1,978,000, down from HK$3,816,000 in the same period of 2023[127] Dividend Policy - The Company does not recommend the payment of an interim dividend for the six months ended 30 September 2024, consistent with the previous year where no dividend was paid[7] - No interim dividend was recommended for the six months ended September 30, 2024, consistent with the previous year where no dividend was paid[144] Asset Management - The Group's land use right in the PRC has a remaining period of 59 years, indicating a long-term asset base for future operations[148] - The carrying amount of right-of-use assets increased to HK$7,388,000 as of September 30, 2024, from HK$7,340,000 at April 1, 2024, showing a slight increase of about 0.7%[148] - Biological assets increased to HK$30,349,000 as of September 30, 2024, from HK$28,283,000 at April 1, 2024, reflecting a growth of approximately 7.3%[153] Liabilities and Contingencies - As of September 30, 2024, the Group had no material contingent liabilities[70] - The Group's gearing ratio was not applicable as of September 30, 2024[69] - The Group is closely monitoring foreign currency rates and will consider hedging significant foreign currency exposure if necessary[65]
世大控股(08003) - 2025 - 中期财报