Financial Performance - For the six months ended September 30, 2024, the group reported a loss of approximately HKD 7.5 million, compared to a loss of HKD 4.7 million for the same period in 2023[5]. - Revenue for the six months ended September 30, 2024, was HKD 36.2 million, an increase of 22.9% from HKD 29.5 million in the same period of 2023[7]. - The gross loss for the period was HKD 2.2 million, compared to a gross profit of HKD 3.7 million in the previous year[7]. - Operating loss increased to HKD 7.5 million from HKD 4.6 million year-on-year[7]. - Basic loss per share for the six months ended September 30, 2024, was HKD 1.35, compared to HKD 1.22 for the same period in 2023[7]. - The total loss attributable to owners for the six months ended September 30, 2024, was approximately HKD 7.5 million, compared to HKD 4.7 million for the same period in 2023[53]. Dividend and Shareholder Information - The board did not recommend the payment of an interim dividend for the six months ended September 30, 2024[5]. - The company did not recommend any interim dividend for the six months ended September 30, 2024, consistent with the previous year[29]. - As of September 30, 2024, the major shareholder Zhang Jun Tao held 298,092,515 shares, representing 53.77% of the company[63]. - The total shares held by Zhang Jun Tao and his spouse amounted to 299,949,182 shares, representing 54.10% of the company[67]. Assets and Liabilities - Total assets as of September 30, 2024, were HKD 124.8 million, a decrease from HKD 131.8 million as of March 31, 2024[9]. - Net assets decreased to HKD 115.5 million from HKD 123.0 million as of March 31, 2024[9]. - The company reported a significant increase in inventory to HKD 42.4 million from HKD 28.0 million[9]. - Trade payables increased to HKD 3.6 million from HKD 2.7 million, indicating a rise in operational liabilities[9]. - Trade receivables as of September 30, 2024, amounted to HKD 28,048,000, significantly higher than HKD 15,172,000 as of March 31, 2024[33]. Cash Flow and Financial Position - The company reported a net cash outflow from operating activities of HKD 8,860,000 for the six months ended September 30, 2024, compared to a net cash inflow of HKD 3,926,000 for the same period in 2023[15]. - The company had cash and cash equivalents of HKD 17,590,000 at the end of the reporting period, down from HKD 26,450,000 at the beginning of the period[15]. - The group had cash and bank balances totaling approximately HKD 17.6 million as of September 30, 2024, down from HKD 26.5 million on March 31, 2024[56]. - The debt-to-equity ratio of the group was approximately 1.8% as of September 30, 2024, compared to 3.9% on March 31, 2024[56]. Operational Expenses - The company incurred a total employee cost of HKD 2,991,000 for the six months ended September 30, 2024, down from HKD 3,855,000 in the same period of 2023[28]. - The total employee cost for the six months ended September 30, 2024, was approximately HKD 3.0 million, a decrease from HKD 3.9 million for the same period in 2023[60]. - Promotional, sales, and distribution expenses decreased by approximately 24.2% to HKD 3.4 million, while administrative expenses decreased by approximately 46.4% to HKD 3.1 million for the six months ended September 30, 2024[48]. - The company reported zero financing costs for the six months ended September 30, 2024, down from approximately HKD 121,000 for the same period in 2023, due to reduced bank borrowings[50]. Market Conditions and Strategy - The retail sales value in Hong Kong decreased by approximately 7.6% year-on-year, from HKD 302.3 billion for the nine months ended September 30, 2023, to HKD 279.4 billion for the same period in 2024[44]. - The company plans to continue expanding its sales volume and marketing channels to adapt to challenges in the Hong Kong retail market[45]. - The company remains confident in its position as a leading retailer of premium wines in Hong Kong, despite ongoing global economic uncertainties[45]. - The company aims to diversify its business and enhance long-term growth potential for itself and its shareholders[45]. Corporate Governance - The chairman and CEO roles are held by the same individual, Mr. Zhang Jun Tao, to ensure effective strategic planning[76]. - The audit committee is responsible for reviewing the financial systems, accounting policies, and internal controls of the group[82]. Miscellaneous - The company has adopted a prudent treasury policy to mitigate credit risk through continuous credit assessments of customer financial conditions[79]. - The company has no significant foreign exchange risk as most sales, monetary assets, and liabilities are denominated in HKD[80]. - The company did not grant any share options under the share option scheme during the six months ended September 30, 2024[70]. - There were no significant acquisitions or disposals of subsidiaries or associated companies during the six months ended September 30, 2024[61]. - The company did not purchase, sell, or redeem any of its securities during the six months ended September 30, 2024[71]. - There were no significant contracts in which the company's directors had a substantial interest during the six months ended September 30, 2024[72]. - As of September 30, 2024, the company has no significant investments or capital asset plans[78]. - The mid-term financial information for the six months ending September 30, 2024, has not been audited by the company's auditors[82]. - The mid-term report will be sent to shareholders around November 29, 2024, and will be available on the company's and the stock exchange's websites[83].
美捷汇控股(01389) - 2025 - 中期财报