Revenue Performance - The company's revenue for the six months ended September 30, 2024, was approximately HKD 27,360,000, a decrease of about HKD 4,970,000 or 15.37% compared to HKD 32,330,000 in the same period of 2023[16] - Revenue from jewelry design and marketing was approximately HKD 11,320,000, down from HKD 18,530,000 in the previous year[16] - Revenue from lending business increased to approximately HKD 16,040,000 from HKD 13,800,000 in the previous year[16] - Revenue for the six months ended September 30, 2024, was HKD 27,362,000, a decrease of 15.4% compared to HKD 32,334,000 for the same period in 2023[98] - Revenue from jewelry sales for the six months ended September 30, 2024, was HKD 11,320 thousand, down 38.8% from HKD 18,530 thousand in the same period of 2023[122] - Interest income from lending for the same period increased to HKD 16,042 thousand, up 16.0% from HKD 13,804 thousand in 2023[122] Profitability - Gross profit for the period was approximately HKD 16,590,000, an increase of about HKD 1,790,000 or 12.09% compared to HKD 14,800,000 in the previous year[16] - The gross profit margin improved from approximately 45.77% to 60.64% due to higher demand in the lending business[16] - Profit before tax for the period was approximately HKD 11,310,000, an increase of about HKD 10,000,000 compared to HKD 1,310,000 in the previous year[18] - The company's net profit for the period was approximately HKD 10,960,000, compared to HKD 500,000 in the same period of 2023[18] - Total comprehensive income for the period was HKD 13,196,000, compared to a loss of HKD 9,725,000 in the previous year[104] - The net profit for the period was HKD 10,959,000, compared to HKD 499,000 in the same period of 2023, showing a substantial increase in profitability[128] Expenses and Financial Costs - Selling, distribution, and administrative expenses were approximately HKD 7,830,000, a slight decrease of about HKD 50,000 or 0.63% from HKD 7,880,000 in the previous year[18] - Financial costs increased to approximately HKD 1,120,000 from about HKD 770,000 in the previous year, an increase of approximately HKD 350,000[19] - The company reported a total financial cost of HKD (1,117) thousand for the period, compared to HKD (773) thousand in the previous year, indicating increased financial expenses[128] Assets and Liabilities - As of September 30, 2024, the total loan amount was approximately HKD 312,110,000, with an average interest rate of 10.49%[23] - The net current assets of the group as of September 30, 2024, were approximately HKD 158,890,000, compared to HKD 114,860,000 as of March 31, 2024, indicating an increase in liquidity[51] - The total interest-bearing borrowings amounted to approximately HKD 30,220,000 as of September 30, 2024, up from HKD 26,270,000 as of March 31, 2024, resulting in an increase in the debt level[51] - The debt-to-equity ratio as of September 30, 2024, was 8.75%, compared to 7.24% as of March 31, 2024, indicating a slight increase in financial leverage[51] - Total liabilities increased to HKD 49,518,000 from HKD 43,181,000 as of March 31, 2024[108] - The total liabilities reached HKD 64,696,000, including HKD 25,173,000 in convertible bonds and HKD 5,049,000 in loans and interest payable[137] Credit and Risk Management - The expected credit loss provision for receivables was approximately HKD 59,560,000, a decrease from HKD 63,100,000 as of March 31, 2024[32] - The default provision rate was 18.09%, down from 20.24% as of March 31, 2024[32] - The company has implemented a credit assessment and due diligence process to evaluate potential borrowers[26] - The company has established a loan monitoring mechanism to continuously assess the loan portfolio and identify potential issues[29] - The company will continue to strengthen risk management to navigate external risks and seize opportunities[22] Shareholder and Corporate Governance - The company has a total of 124,927,550 ordinary shares, representing 10% of the issued share capital available for the new share option plan as of the report date[71] - The new share option plan allows for the issuance of options that, if granted to eligible participants, could exceed 1% of the total issued shares within a twelve-month period, requiring shareholder approval[73] - The company did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[150] - The company has complied with the corporate governance code throughout the reporting period[88] Employee and Workforce - The employee count decreased to 23 as of September 30, 2024, from 25 as of March 31, 2024, reflecting a reduction in workforce[57] - The short-term employee benefits for key management personnel amounted to HKD 683,000 for the six months ended September 30, 2024, a decrease of 3.1% from HKD 705,000 in the same period of 2023[188] Cash Flow and Financing Activities - For the six months ended September 30, 2024, the net cash used in operating activities was HKD (3,869) thousand, compared to HKD 3,788 thousand in the same period of 2023, indicating a significant decline in operational cash flow[112] - The financing activities generated a net cash inflow of HKD 2,366 thousand, down 48.7% from HKD 4,589 thousand in the previous year[112] - Cash and cash equivalents at the end of the period decreased to HKD 334 thousand from HKD 9,729 thousand at the end of the previous period, reflecting a significant cash outflow[112] Inventory and Receivables - The inventory held for sale is valued at HKD 94,217,000, with a provision for inventory of approximately HKD 37,000 as of September 30, 2024[165] - Accounts receivable amount to HKD 9,962,000 after deducting expected credit loss provisions, with a credit period of 90 days for trade customers[167] - The total amount of other receivables and deposits is HKD 21,086,000, with trade deposits related to jewelry design and marketing business at approximately HKD 20,769,000[171]
中国环保能源(00986) - 2025 - 中期业绩