Financial Performance - The company's revenue for the six months ended September 30, 2024, was approximately HKD 98.5 million, a decrease of about 23.6% compared to HKD 129.0 million for the same period in 2023[20] - Gross profit decreased from approximately HKD 31.8 million to about HKD 18.5 million, representing a decline of approximately 41.8%[23] - Overall gross margin fell from approximately 24.7% to about 18.8% due to increased discounts offered to customers amid intense market competition[23] - Other income for the period was approximately HKD 1.3 million, down about 18.8% from HKD 1.6 million in the same period last year[24] - Profit attributable to the owners of the company for the period was approximately HKD 0.7 million, a significant decrease of about 93.51% compared to HKD 10.8 million for the same period last year[30] - The company recorded a profit before tax of HKD 827,000, a significant decline of 93.6% from HKD 13,041,000 in the previous year[72] - The net profit attributable to shareholders for the period was HKD 691,000, compared to HKD 10,841,000 in the prior year, representing a decrease of 93.6%[72] - Basic and diluted earnings per share were HKD 0.17, down from HKD 2.71 in the same period last year[72] Expenses and Costs - Selling and distribution expenses were approximately HKD 12.4 million, an increase of about 2.5% compared to HKD 12.1 million for the same period in 2023[25] - Administrative expenses for the period amounted to approximately HKD 6.4 million, a decrease of about 20.99% compared to HKD 8.1 million for the same period last year[26] - Financing costs for the six months ended September 30, 2024, were approximately HKD 0.2 million, down from HKD 0.3 million for the same period last year, representing a reduction of about 33.33%[27] - The group's profit before tax for the six months ended September 30, 2024, was significantly impacted by inventory costs, depreciation of property, plant, and equipment, and employee benefits, totaling HKD 80,064,000, compared to HKD 97,131,000 in the same period of 2023, representing a decrease of approximately 17.6%[97] - Tax expenses for the current year amounted to HKD 136,000, a substantial decrease of 93.8% from HKD 2,200,000 in the previous year, reflecting the application of the two-tier profits tax regime[98][99] Cash Flow and Assets - Net cash generated from operating activities for the six months ended September 30, 2024, was HKD 378,000, significantly lower than HKD 37,976,000 in the previous year[79] - The company reported a net cash outflow from financing activities of HKD 3,213,000 for the six months ended September 30, 2024, compared to HKD 63,650,000 in the same period last year[79] - The company's cash and cash equivalents at the end of the period were HKD 62,307,000, a decrease from HKD 65,575,000 at the beginning of the period[79] - The total assets less current liabilities as of September 30, 2024, amounted to HKD 105,423,000, down from HKD 126,046,000 as of March 31, 2024[12] - The total equity as of September 30, 2024, was HKD 105,230,000, down from HKD 124,539,000 as of March 31, 2024[12] Dividends and Shareholder Returns - The company declared a special dividend of HKD 0.05 per share, compared to HKD 0.15 per share in the previous period[61] - A special dividend of HKD 0.05 per share was declared, totaling HKD 20,000,000, down from HKD 60,000,000 (HKD 0.15 per share) in the previous year[104] - The company incurred a net loss of HKD 20,000,000 in retained earnings due to the special dividend declared[77] Operational Developments - The company plans to expand its sales network by increasing the number of retailers and enhancing inventory management capabilities[19] - The company has launched additional prepaid products for overseas mobile data services and local phone services during the period[17] - The company aims to increase its market share in the prepaid products sector targeting Indonesian and Philippine users[18] - The company has opened a new self-operated retail store in Mei Foo, bringing the total to seven stores in Hong Kong[17] Employee and Management Information - The total number of employees as of September 30, 2024, was 44, a decrease from 47 employees as of September 30, 2023, with total employee compensation for the period amounting to approximately HKD 8.0 million[40] - Total compensation for key management personnel for the six months ended September 30, 2024, was HKD 2,430,000, a decrease of 24.2% from HKD 3,210,000 in the same period of 2023[121] Inventory and Receivables - The group's inventory as of September 30, 2024, was approximately HKD 45.2 million, a slight decrease of about 1.31% from HKD 45.8 million as of March 31, 2024[31] - Accounts receivable as of September 30, 2024, was HKD 1,876,000, a decrease from HKD 1,966,000 as of March 31, 2024, indicating improved collection efficiency[108] - The aging analysis of accounts receivable shows that all receivables were within 21 days as of September 30, 2024, compared to HKD 1,966,000, which included overdue amounts in the previous period[109] Other Financial Information - The effective tax rate for the period was approximately 16.5%, slightly down from 16.9% for the same period last year[29] - The group had no bank and other borrowings as of September 30, 2024, consistent with the previous period[33] - The total number of issued shares remained stable at 400,000,000, with a par value of HKD 0.01 per share as of September 30, 2024[118] - No share options have been granted, exercised, cancelled, or lapsed under the share option scheme since its adoption[59] - The company did not purchase, sell, or redeem any of its listed securities during the period[60] - There were no significant events after the reporting period that would have a material impact on the company's operations and financial performance[68]
港亚控股(01723) - 2025 - 中期业绩