Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 126,540,000, a decrease of 3.5% from HKD 130,783,000 in the same period of 2023[3] - Gross profit for the same period was HKD 110,347,000, down from HKD 113,675,000, reflecting a decline of 2.9%[3] - Profit before tax decreased to HKD 15,939,000, a decline of 17.0% compared to HKD 19,258,000 in 2023[5] - Net profit for the period was HKD 13,239,000, down 12.8% from HKD 15,173,000 in the previous year[5] - Total comprehensive income for the period was HKD 14,685,000, slightly up from HKD 14,356,000 in 2023, indicating a growth of 2.3%[5] - The company reported a basic earnings per share of HKD 1.74, down from HKD 1.99 in the previous year, reflecting a decrease of 12.6%[5] - The profit attributable to the company's owners for the six months ended September 30, 2024, was HKD 13,239,000, compared to HKD 15,173,000 for the same period in 2023, representing a decrease of approximately 12.8%[41] - Basic earnings per share for the six months ended September 30, 2024, were HKD 0.0174, down from HKD 0.0199 in the previous year[67] Revenue Breakdown - Revenue from health supplements was HKD 120,398,000, down 3.4% from HKD 125,092,000 year-on-year[21] - Revenue from personal care products increased to HKD 5,766,000, up 11.6% from HKD 5,167,000 in the previous year[21] - Revenue from health supplement products decreased by 3.8% to HKD 120,398,000, while personal care products increased by 11.6% to HKD 5,766,000[62] - The company's gross profit margin slightly increased by 0.3% to 87.2% for the six months ended September 30, 2024[65] Expenses and Costs - Total sales and distribution expenses increased by 2.9% to HKD 78,460,000, primarily due to rising employee costs[65] - The cost of inventory recognized as an expense was HKD 16,193,000, down from HKD 17,108,000 in the previous year, reflecting a reduction of approximately 5.3%[40] - Total depreciation for the period was HKD 7,584,000, slightly down from HKD 7,660,000 in the previous year, indicating a decrease of about 1%[40] - Advertising and promotional expenses included in sales and distribution expenses were HKD 3,905,000, up from HKD 3,262,000 in the previous year, reflecting an increase of approximately 19.7%[40] Assets and Liabilities - Cash and cash equivalents increased to HKD 80,030,000 from HKD 69,844,000, representing a growth of 14.0%[7] - Inventory rose to HKD 25,153,000, an increase of 15.5% from HKD 21,787,000 as of March 31, 2024[7] - Total assets decreased to HKD 183,621,000 from HKD 187,184,000, a decline of 1.9%[9] - Non-current assets totaled HKD 87,830,000, a slight decrease from HKD 89,665,000 as of March 31, 2024[7] - The total outstanding bank borrowings amounted to HKD 2,275,000 as of September 30, 2024, down from HKD 2,486,000 as of March 31, 2024[70] - The company's lease liabilities payable to Tiger amounted to HKD 1,408,000 as of September 30, 2024, down from HKD 1,802,000 as of March 31, 2024[56] - The debt-to-equity ratio was only 1.3% as of September 30, 2024, compared to 1.4% as of March 31, 2024, indicating a reasonable level of capital leverage[70] Tax and Other Income - The company reported a total tax expense of HKD 2,700,000 for the period, compared to HKD 4,085,000 in the previous year, indicating a decrease of 33.8%[33] - The company recognized a loss of HKD 224,000 from other gains and losses, a significant improvement from a loss of HKD 1,651,000 in the same period last year[28] - The company's other income increased by 72.0% to HKD 1,087,000, mainly due to increased bank interest income from rising interest rates[65] - Bank interest income rose to HKD 891,000, a significant increase of 92.1% compared to HKD 464,000 in the prior period[26] Operational Highlights - The company has only one operating segment, which is the retail and wholesale of health and personal care products[25] - The company operated 18 specialty stores and 67 consignment counters as of September 30, 2024, compared to 18 specialty stores and 63 consignment counters as of March 31, 2024[59] - The average credit period for trade customers and consignees is between 0 to 60 days, with accounts receivable as of September 30, 2024, totaling HKD 21,624,000, up from HKD 21,163,000 as of March 31, 2024[46][47] - The total accounts payable as of September 30, 2024, was HKD 15,328,000, compared to HKD 13,712,000 as of March 31, 2024, indicating an increase of approximately 11.8%[51] Future Outlook and Strategic Plans - The company anticipates that global interest rates will gradually decrease to support economic development, with geopolitical tensions impacting the market[79] - The group plans to enhance its product portfolio to cater to changing customer preferences and will continue to optimize its online and offline store networks[79] - The company has not made any significant investments, acquisitions, or disposals in subsidiaries or joint ventures during the six months ended September 30, 2024[74] Governance and Shareholder Relations - The board has decided not to declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[38] - The board expresses gratitude to shareholders, business partners, and customers for their ongoing support[91] - The board consists of two executive directors and three independent non-executive directors[92] - The report emphasizes that in case of discrepancies, the English version prevails[93] Market Conditions - The overall retail sales value in Hong Kong decreased by approximately 10.8% during the same period, reflecting the challenging market conditions[58] - As of September 30, 2024, the group's current assets net value was HKD 95,791,000, down from HKD 97,519,000 as of March 31, 2024[69] - The current ratio as of September 30, 2024, was approximately 2.9, a decrease from 4.1 as of March 31, 2024[70] - The number of employees increased to 232 as of September 30, 2024, from 210 as of March 31, 2024[76] - There are no significant contingent liabilities as of September 30, 2024[75]
澳至尊(02031) - 2025 - 中期业绩