Financial Performance - For the six months ended September 30, 2024, the company reported revenue of $3.317 million, a significant decrease of 88.1% compared to $27.930 million in the same period of 2023[3]. - The cost of sales for the same period was $3.241 million, resulting in a gross profit of $76, down 49.3% from $150 in the previous year[3]. - The operating loss for the period was $648 thousand, compared to an operating loss of $548 thousand in the prior year, indicating a worsening of 18.2%[3]. - The net loss for the period was $652 thousand, which is a 17.9% increase from the net loss of $553 thousand in the same period last year[3]. - Basic and diluted loss per share was $0.13 cents, compared to $0.11 cents in the previous year, reflecting a 18.2% increase in loss per share[3]. - The group reported a pre-tax loss of $652,000 for the six months ended September 30, 2024, compared to a loss of $553,000 for the same period in 2023[38]. - The gross profit for the period was approximately $0.08 million, a decrease from $0.15 million in the same period last year[53]. - Selling and administrative expenses were approximately $0.72 million, an increase of $0.02 million compared to $0.70 million in the same period last year[55]. - The net loss attributable to shareholders increased by approximately 17.9% compared to the same period last year, primarily due to reduced gross profit[55]. Assets and Liabilities - Total assets as of September 30, 2024, were $6.426 million, a decrease from $6.958 million as of March 31, 2024[10]. - Current assets decreased to $6.889 million from $7.791 million, while current liabilities decreased to $772 thousand from $865 thousand[9]. - Cash and cash equivalents decreased to $2.769 million from $6.258 million, indicating a cash outflow during the period[18]. - The company reported a significant increase in trade receivables, which rose to $4.120 million from $1.533 million, indicating potential cash flow issues[7]. - The total equity as of September 30, 2024, was $6.306 million, down from $6.958 million as of March 31, 2024, reflecting a decline in the company's net worth[12]. - Trade receivables and other receivables totaled $4,120,000 as of September 30, 2024, compared to $1,533,000 as of March 31, 2024[43]. - Other payables and accrued expenses amounted to $469,000 as of September 30, 2024, down from $672,000 as of March 31, 2024[48]. - The group has committed to repay lease liabilities and interest totaling $176,000 as of September 30, 2024, compared to $193,000 in the previous year[49]. - The debt-to-equity ratio was approximately 14.1% as of September 30, 2024, compared to approximately 12.43% as of March 31, 2024[57]. Revenue Sources - Total revenue from external customers for the six months ended September 30, 2024, was $3,317,000, with no revenue reported from Hong Kong and Singapore[31]. - The revenue from coal and other commodity trading business was approximately $3.3 million, a decrease of 88.12% or $24.61 million compared to the same period last year[52]. - The total sales volume of coal sourced from Indonesia was approximately 0.038 million tons, down from approximately 0.33 million tons in the same period last year[52]. - The cost of inventory for the six months ended September 30, 2024, was $3,241,000, significantly reduced from $27,780,000 in the same period of 2023[35]. Governance and Compliance - The company has adhered to the corporate governance code, with the chairman and CEO roles held by the same individual, Robert Lai, which the board believes does not compromise the balance of power[64]. - The board consists of experienced and capable individuals who regularly meet to discuss matters affecting the company's operations, ensuring effective governance[64]. - The audit committee has reviewed the accounting principles and practices adopted by the group, with no dissent regarding the interim financial statements for the six months ending September 30, 2024[66]. - The company confirms full compliance with the standards for securities trading by directors as of September 30, 2024[65]. Future Outlook - The group has no significant capital expenditure plans and believes it has sufficient liquidity to meet its current and future operational funding needs[59]. - The group has not incurred any bad debts in its coal and other trading businesses to date[59]. - The company has no plans for significant investments or capital assets as of the announcement date[56]. - The group did not declare any interim dividends for the six months ended September 30, 2024, consistent with the previous year[37]. - The interim results announcement and report will be available on the company's website and sent to shareholders in due course[68].
安域亚洲(00645) - 2025 - 中期业绩