Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 88,524,000, a decrease of 16.9% compared to HKD 106,574,000 for the same period in 2023[3] - The gross profit for the same period was HKD 54,580,000, down 28.7% from HKD 76,513,000 year-on-year[3] - The net loss for the period was HKD 2,614,000, significantly improved from a net loss of HKD 7,934,000 in the previous year, representing a reduction of 67.0%[3] - The total comprehensive income for the period was HKD 4,094,000, compared to a total comprehensive loss of HKD 8,892,000 in the same period last year[10] - The basic and diluted loss per share improved to HKD 0.013 from HKD 0.045 year-on-year[3] - The group reported segment revenue of HKD 89,746,000 for the six months ended September 30, 2024, compared to HKD 108,191,000 for the same period in 2023, representing a decrease of approximately 17.0%[22] - The group achieved a segment profit of HKD 14,842,000 for the six months ended September 30, 2024, compared to HKD 10,770,000 for the same period in 2023, reflecting an increase of approximately 37.5%[22] - The group reported a basic loss per share of HKD 0.0126 for the six months ended September 30, 2024, compared to a loss of HKD 0.0448 in the same period of 2023[28] - The overall gross profit margin declined from 71.8% to 61.7%, with operating losses reduced from HKD 5,838,000 to HKD 1,204,000 due to significant foreign exchange gains and lower distribution costs[39] Assets and Liabilities - The company's non-current assets increased to HKD 370,599,000 as of September 30, 2024, from HKD 387,193,000 as of March 31, 2024, reflecting a decrease of 4.3%[13] - Current assets decreased to HKD 181,367,000 from HKD 184,420,000, a decline of 1.8%[13] - The company's total liabilities decreased to HKD 99,856,000 from HKD 103,611,000, a reduction of 3.6%[13] - The equity attributable to the company's shareholders was HKD 440,244,000, down from HKD 452,208,000, a decrease of 2.6%[13] - The group's total assets as of September 30, 2024, were HKD 833,933,000, while total liabilities were HKD 474,493,000, resulting in a debt-to-asset ratio of approximately 56.8%[22] - Cash and bank deposits as of September 30, 2024, amounted to HKD 101,985,000, a slight decrease from HKD 103,397,000 as of March 31, 2024[42] - The net asset value of the group as of September 30, 2024, was HKD 445,921,000, down from HKD 458,413,000 as of March 31, 2024[43] - The capital debt ratio as of September 30, 2024, was 0.100, down from 0.144 as of March 31, 2024, indicating improved financial stability[43] Revenue Sources - The apparel sales segment recorded a revenue of HKD 161,679,000 for the twelve months ended September 30, 2024, down from HKD 178,872,000 in the previous year, indicating a decline of about 9.0%[23] - The group’s rental income from property leasing for the six months ended September 30, 2024, was HKD 6,086,000, slightly up from HKD 6,049,000 in the previous year[22] - The rental income from external tenants increased slightly to HKD 4,874,000 from HKD 4,837,000 in the previous year, providing a stable income source for the future[38] - Total trademark licensing revenue increased from HKD 9,128,000 in 2023 to HKD 10,641,000 in 2024, reflecting a strategic focus on expanding market share and strengthening global partnerships[38] - The group’s total receivables, net of impairment provisions, amounted to HKD 12,646,000 as of September 30, 2024, down from HKD 16,857,000 as of March 31, 2024[32] Governance and Board Structure - The board of directors consists of five executive directors and three independent non-executive directors[51] - The chairman of the board is Mr. Chen Yongshen[51] - The company is YGM Trading Limited[51] - The board includes directors such as Ms. Zhou Chen Shuling and Mr. Fu Chengyin[51] - The company has a total of eight board members[51] - The independent non-executive directors include Mr. Cai Tingji, Mr. Su Hanzhang, and Mr. Li Guangming[51] - The board structure reflects a mix of executive and independent oversight[51] - The company is committed to maintaining strong governance practices[51] - The board is responsible for strategic decision-making and oversight of company operations[51] - The chairman emphasized the importance of collaboration among board members[51] Other Financial Information - The financing costs for the six months ended September 30, 2024, were HKD 1,330,000, a decrease from HKD 1,734,000 in the same period of 2023, representing a reduction of about 23.3%[25] - The group did not declare an interim dividend for the six-month period ended September 30, 2024, compared to no dividend declared in the same period of 2023[28] - The group invested approximately HKD 16,000 in property, plant, and equipment during the period, a significant increase from HKD 1,466,000 in the previous year[43] - The group’s deferred tax expense for the six months ended September 30, 2024, was HKD 26,000, compared to HKD 31,000 in the same period of 2023[26] - The group operated a distribution network of 34 sales points as of September 30, 2024, with 27 in Hong Kong, 5 in Macau, and 2 in Taiwan, indicating a cautious approach to store network expansion[37]
YGM TRADING(00375) - 2025 - 中期业绩