Financial Performance - For the six months ended September 30, 2024, the company reported a net loss attributable to shareholders of approximately HKD 11,421,000, compared to a loss of HKD 10,990,000 for the same period in 2023, representing an increase in loss of about 3.9%[4] - The company reported a net loss of approximately HKD 11,420,000 for the six months ended September 30, 2024, an increase of about 7.4% compared to the net loss of HKD 10,990,000 for the same period last year[59] - For the six months ended September 30, 2024, the company reported a pre-tax loss of HKD 11,421,000, compared to a pre-tax loss of HKD 10,990,000 for the same period in 2023[39] - The company has not generated any revenue during the reporting period, which raises concerns about its financial sustainability[12] - The company did not generate any revenue for the six months ended September 30, 2024, consistent with zero revenue for the same period in 2023[25] Current Liabilities and Financial Position - As of September 30, 2024, the company recorded a net current liability of approximately HKD 68,634,000, compared to HKD 21,592,000 as of March 31, 2024, indicating a significant increase in current liabilities[6] - The total liabilities amounted to approximately HKD 91,197,000 as of September 30, 2024, up from HKD 79,776,000 as of March 31, 2024[6] - The company’s total liabilities as of September 30, 2024, were HKD 123,453,000, down from HKD 170,218,000 as of March 31, 2024[24] - The company’s total assets less current liabilities were reported as negative HKD 68,634,000 as of September 30, 2024[6] - The company believes it has sufficient working capital to meet its current needs and will continue to operate as a going concern[15] Operational Developments - The company plans to resume its gaming table operations at a new casino in the Cambodia Seven Stars Investment Zone, with shareholder approval obtained for leasing and operating a VIP room effective October 1, 2024[13] - The company has entered into a casino agreement with LongBay Entertainment for the management of a VIP hall, which is expected to begin operations on October 1, 2024, with a monthly lease of USD 35,000[64] - The VIP hall will manage seven gaming tables, particularly baccarat, and the company will receive all casino winnings while being responsible for any losses, including employee expenses and taxes[64] - The company anticipates that the operations of the VIP hall will stabilize in the coming months and significantly contribute to overall performance by 2025[64] Cost Management and Financial Support - The company’s executive director has committed to not demanding repayment of convertible bonds totaling HKD 50,000,000 and HKD 32,000,000 due in September 2025 and December 2026, respectively, to provide sufficient financial support for operations[12] - The management will continue to take proactive measures to control administrative costs and capital expenditures[14] - The company is committed to controlling administrative costs and capital expenditures to alleviate cash flow pressure[70] Shareholder and Corporate Governance - The company has not declared an interim dividend for the six months ended September 30, 2024, remaining at zero for the same period in 2023[35] - The company does not recommend the payment of an interim dividend for the six months ended September 30, 2024, compared to zero in 2023[77] - The company has maintained high levels of corporate governance, emphasizing transparency and accountability to enhance shareholder value[81] - The interim results for the six months ending September 30, 2024, have been reviewed by the audit committee and are prepared in accordance with applicable accounting standards[84] - All directors confirmed compliance with the standards of the securities trading code throughout the review period[86] Future Business Opportunities - The company is exploring a new business line focused on the procurement and distribution of high-quality camellia oil, capitalizing on the growing demand in the Chinese market[74] - The annual production of camellia oil in China surpassed 800,000 tons in 2023, making it one of the top ten edible oils consumed in the country[74] - The board believes that the strategic expansion into new business opportunities will diversify revenue sources and enhance profitability[74] Market and Economic Context - Cambodia welcomed 4.8 million international tourists in the first nine months of 2024, a 22% increase from 3.92 million in the same period of 2023, indicating a strong recovery in the tourism sector[63] - The Cambodian gaming industry is expected to grow significantly, with tourism projected to attract 7 million international visitors annually by 2025[73] - Cambodia's economy is forecasted to grow by 5.6% in 2024, up from 5% in 2023, and further increase to 5.9% in 2025[73]
世纪娱乐国际(00959) - 2025 - 中期业绩