Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 1,716,129, a decrease of 12.1% compared to HKD 1,954,785 for the same period in 2023[3] - Gross profit for the same period was HKD 413,499, down 10.1% from HKD 459,800 in 2023[3] - The net profit for the period was HKD 18,274, representing a decline of 34.6% from HKD 28,006 in the previous year[3] - Basic and diluted earnings per share for the company were HKD 5.3 cents, down from HKD 7.9 cents in 2023, reflecting a decrease of 32.9%[3] - The group’s profit before tax for the six months ended September 30, 2024, was HKD 38,027, compared to HKD 66,493 in the same period of 2023[36] - Profit attributable to equity owners for the same period was HKD 20,462,000, down from HKD 30,269,000 in the previous year[54] - The total tax expense for the period was HKD 11,407,000, an increase from HKD 10,021,000 in the previous year[38] - Other income totaled HKD 14,970, an increase from HKD 6,499 in the previous year[34] Assets and Liabilities - Non-current assets totaled HKD 1,238,904 as of September 30, 2024, an increase from HKD 1,208,176 as of March 31, 2024[8] - Current assets amounted to HKD 1,703,656, slightly down from HKD 1,719,967 as of March 31, 2024[8] - The company’s total liabilities were HKD 1,688,698, resulting in a net asset value of HKD 1,253,862 as of September 30, 2024[10] - Total assets amounted to HKD 2,942,560, with segment assets in Hong Kong at HKD 1,211,734, mainland China at HKD 719,874, and Japan at HKD 463,181[26] - Total liabilities were HKD 1,688,698, with segment liabilities in Hong Kong at HKD 508,310, mainland China at HKD 278,586, and Japan at HKD 282,848[26] - Trade receivables as of September 30, 2024, amounted to HKD 586,877,000, down from HKD 625,047,000 as of March 31, 2024[44] - Trade payables totaled HKD 244,778,000 as of September 30, 2024, a decrease from HKD 266,196,000 as of March 31, 2024[46] Financing and Costs - The company’s financing costs increased to HKD 26,344 from HKD 22,483 in the previous year, indicating a rise of 17.0%[3] - The group’s interest income for the period was HKD 3,318,000, while financing costs (excluding lease liabilities) totaled HKD 20,919,000[22] - The group incurred financing costs of HKD 26,344 for the six months ended September 30, 2024, compared to HKD 22,483 in the same period of 2023[34] Revenue Breakdown - Total revenue for the six months ended September 30, 2024, was HKD 1,716,129,000, with external sales contributing HKD 1,854,560,000[22] - Revenue from the Hong Kong region was HKD 838,566,000, accounting for 49% of total revenue, compared to HKD 914,183,000 last year[54] - Domestic revenue was HKD 294,368,000, representing 17% of total revenue, down from HKD 356,972,000 last year[54] - Revenue from Japan was HKD 583,195,000, accounting for 34% of total revenue, compared to HKD 683,630,000 last year[54] - Sales to external customers in Hong Kong amounted to HKD 838,566, down 8.3% from HKD 914,183 in the previous year[30] - Sales to external customers in mainland China were HKD 294,368, a decrease of 17.5% from HKD 356,972 in the prior year[30] - Sales to external customers in Japan totaled HKD 583,195, down 14.7% from HKD 683,630 in the previous year[30] Strategic Initiatives - The company plans to focus on market expansion and new product development to drive future growth[2] - The group strengthened synergies with mainland China and Japan, optimizing pricing and promotional activities to attract price-sensitive consumers[56] - The group introduced new products to meet changing consumer preferences, including Japanese eggs, specialty drinks, and high-quality rice[57] - The group operates 17 food processing plants in Hong Kong and mainland China, focusing on producing various specialty foods[59] - The group opened a new flagship store in Shenzhen covering 6,000 square feet, showcasing high-quality food products[60] - Following the acquisition of Miyata Company, the group successfully introduced its products to Hong Kong and mainland markets, enhancing growth through strategic partnerships[71] Corporate Governance and Future Outlook - The group maintains high corporate governance standards to enhance shareholder value and protect shareholder interests[81] - The board expresses gratitude to shareholders, business partners, and employees for their continued support[86] - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[87] - The group has confidence in future development, focusing on three core markets: Hong Kong, mainland China, and Japan, to continuously innovate and provide unique products[67] - A new headquarters named "Four Seas Group Center" will be operational by the end of this year, marking a significant milestone in the group's development[68] - The group plans to open a flagship store in Causeway Bay, covering over 20,000 square feet, which will be the largest retail point in Hong Kong, showcasing diverse global cuisines[68] - The mainland market presents significant opportunities, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area, with a population of 86 million and strong economic vitality[70] Compliance and Reporting - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2024, with no significant impact on financial performance[14] - The interim report for the six months ending September 30, 2024, will be published on the Hong Kong Stock Exchange and the company's website[85]
四洲集团(00374) - 2025 - 中期业绩