Financial Performance - For the six months ending September 30, 2024, the group's revenue was HKD 961.8 million, a decrease of 24.4% compared to HKD 1,272.4 million in the same period last year[3]. - Net profit attributable to equity shareholders was HKD 131.6 million, down 40.1% from HKD 219.7 million year-on-year[3]. - The total comprehensive income attributable to equity shareholders for the period was HKD 134.9 million, compared to HKD 196.0 million in the previous year[14]. - The profit before tax for the six months ended September 30, 2024, was HKD 131.59 million, compared to HKD 219.72 million for the same period in 2023, indicating a decrease of approximately 40%[40]. - The total tax expense for the period was HKD 6.15 million, significantly higher than HKD 1.98 million in the previous year, reflecting an increase of about 209%[37]. - Basic and diluted earnings per share for the period were calculated based on a profit attributable to ordinary shareholders of HKD 131.59 million, compared to HKD 219.72 million in the previous year[40]. Revenue Breakdown - Revenue from luxury goods sales amounted to HKD 902,856,000, down 26.0% from HKD 1,218,678,000 year-on-year[29]. - Revenue from securities investment was HKD 58,951,000, an increase of 9.4% from HKD 53,694,000 in the same period last year[29]. - Revenue from Hong Kong was HKD 574,286,000, a decrease of 35.5% from HKD 890,985,000 in the previous year[33]. - Revenue from Taiwan remained stable at HKD 270,168,000, slightly down from HKD 270,706,000 year-on-year[33]. Shareholder Returns - The group plans to repurchase up to HKD 100 million of its shares within the next year to enhance shareholder returns and maintain financial strength[3]. - The interim dividend declared was HKD 0.10 per share, consistent with the previous year's interim dividend of HKD 0.10 per share, totaling HKD 39.42 million[41]. - The board declared an interim dividend of HKD 0.10 per ordinary share, maintaining the same level as 2023, with a payout ratio of 29.96%, up from 17.94% in 2023, totaling approximately HKD 39.42 million[57]. Operational Insights - In Taiwan, despite weak consumer confidence, the group's sales revenue grew by 3.4% in local currency[4]. - In China, retail and e-commerce sales increased by 2.3% in local currency, attributed to the expansion of the retail network and integration of the distribution network[4]. - The group anticipates no significant improvement in consumer spending in Hong Kong in the foreseeable future[5]. - The group remains optimistic about the long-term prospects in China and will seek to continue expanding its business in the region[7]. Financial Position - The group holds net cash of HKD 2.87 billion, positioning it to navigate a challenging retail environment and potential economic downturns[9]. - As of September 30, 2024, the company had bank loans secured amounting to HKD 575.44 million, down from HKD 799.09 million as of March 31, 2024[44]. - The company's commercial receivables as of September 30, 2024, included HKD 64.13 million that were not yet due, compared to HKD 92.09 million as of March 31, 2024, indicating a decrease of approximately 30%[43]. - The total liabilities, including commercial payables, were HKD 287.33 million as of September 30, 2024, down from HKD 369.12 million as of March 31, 2024[46]. - The company reported a significant increase in other payables and accruals, totaling HKD 182.32 million as of September 30, 2024, compared to HKD 224.07 million as of March 31, 2024[46]. - The group maintained a zero debt-to-capital ratio as of September 30, 2024, consistent with the previous period, indicating no reliance on bank loans after accounting for cash reserves[55]. - The group's net current financial resources stood at HKD 28.732 billion as of September 30, 2024, an increase from HKD 26.705 billion on March 31, 2024, with cash and bank balances of HKD 34.486 billion[54]. - The current ratio (current assets to current liabilities) improved to 4.1 times as of September 30, 2024, compared to 3.3 times on March 31, 2024[55]. Compliance and Governance - The company did not apply any new accounting standards or interpretations that have not yet come into effect during the reporting period[22]. - The independent review report by KPMG confirmed that the financial statements for the period ended March 31, 2024, were free from material misstatement[19]. - The company has not disclosed any major customer information as it does not rely on a concentrated customer base[26]. Employment and Costs - As of September 30, 2024, the group employed 618 staff, a decrease from 754 in 2023, with total employee costs amounting to HKD 114.9 million, down from HKD 129.7 million in 2023[53]. - The company has capital commitments of HKD 7.60 million as of September 30, 2024, slightly down from HKD 7.70 million as of March 31, 2024[49].
迪生创建(00113) - 2025 - 中期业绩