Compliance and Governance - The company reported interim results for the six months ending September 30, 2024, in compliance with GEM listing rules[1] - The board of directors confirmed that the information provided is accurate and complete, with no misleading or fraudulent elements[2] - The company is listed on the GEM, which is designed for small to medium-sized companies with higher investment risks compared to the main board[3] - The interim report will be available on the Hong Kong Stock Exchange website and the company's website for at least seven days from the announcement date[2] - The company has undergone several changes in its board of directors, with new appointments and resignations noted[5] - The company has appointed new company secretaries in November 2024, indicating ongoing administrative updates[9] - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and the relevant accounting policies remain consistent with those adopted in the previous year[26] - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial performance[30] - The board believes that the group will have sufficient working capital for at least the next twelve months from the date of approval of the consolidated financial statements[29] - The company has complied with applicable laws and regulations in Hong Kong, Macau, and China, with no significant violations reported as of September 30, 2024[136] - The board is committed to maintaining high corporate governance standards to enhance accountability and transparency for shareholders[137] - The company has adopted the corporate governance code as per GEM listing rules, ensuring proper regulation of business activities and decision-making processes[139] - The audit committee, chaired by an independent non-executive director, is responsible for reviewing financial statements and monitoring risk management procedures[144] Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 13,985 thousand, a decrease of 27.4% compared to HKD 19,268 thousand in the same period of 2023[11] - Gross profit for the six months ended September 30, 2024, was HKD 10,071 thousand, down 25.0% from HKD 13,437 thousand in the previous year[11] - The company reported a loss attributable to owners of HKD 12,678 thousand for the six months ended September 30, 2024, compared to a loss of HKD 12,357 thousand in the same period of 2023[11] - Operating cash flow for the six months ended September 30, 2024, was a net outflow of HKD 3,368 thousand, an improvement from a net outflow of HKD 7,505 thousand in the previous year[20] - Total assets decreased to HKD 40,518 thousand as of September 30, 2024, from HKD 46,579 thousand as of March 31, 2024[13] - Current liabilities increased to HKD 70,278 thousand as of September 30, 2024, compared to HKD 66,867 thousand as of March 31, 2024[13] - The company’s cash and cash equivalents decreased to HKD 3,325 thousand as of September 30, 2024, from HKD 10,631 thousand in the previous year[20] - The basic and diluted loss per share for the six months ended September 30, 2024, was HKD 1.17, compared to HKD 1.22 in the same period of 2023[11] - Non-current assets decreased to HKD 9,448 thousand as of September 30, 2024, from HKD 12,801 thousand as of March 31, 2024[13] - The company reported a net cash inflow from financing activities of HKD 1,353 thousand for the six months ended September 30, 2024, compared to a net outflow of HKD 6,679 thousand in the previous year[20] - The group reported a pre-tax loss of HKD 12,678,000 for the six months ended September 30, 2024, compared to a pre-tax loss of HKD 12,246,000 for the same period in 2023[41] - The total unallocated income and expenses net amount was HKD (22,749,000) for the six months ended September 30, 2024, compared to HKD (25,683,000) for the same period in 2023, indicating a reduction in losses[41] - The group reported a total revenue of HKD 19,268,000 for the six months ended September 30, 2023, which included HKD 1,209,000 from other sources[41] - The group recorded a total revenue of HKD 14.0 million, a decrease of about 22.6% compared to the same period in 2023[87] - Total revenue decreased from approximately HKD 19.3 million for the six months ended September 30, 2023, to approximately HKD 14.0 million, attributed to a challenging retail environment in Hong Kong[87] - Cost of sales for the six months ended September 30, 2024, was approximately HKD 3.9 million, a decrease of about 32.9% from HKD 5.8 million in the same period of 2023[88] - Gross profit decreased by approximately 25.1% from about HKD 13.4 million to approximately HKD 10.1 million for the same periods[88] - Administrative and other operating expenses decreased by approximately HKD 3.7 million to about HKD 9.7 million for the six months ended September 30, 2024[89] - The company reported a loss attributable to owners of approximately HKD 12.7 million for the six months ended September 30, 2024, compared to a loss of HKD 12.4 million in the same period of 2023[92] Liquidity and Capital Management - Current cash reserves are insufficient to cover all current liabilities, with current liabilities exceeding current assets by HKD 29,760,000[29] - The company has implemented measures and issued new shares in June 2024 to address liquidity concerns[29] - The group incurred employee costs totaling HKD 11,183,000 for the six months ended September 30, 2023, which included salaries, bonuses, and allowances[52] - The group did not incur any income tax expenses for the six months ended September 30, 2024, as the taxable income was below the exemption threshold[55] - As of September 30, 2023, the group's current liabilities net amounted to approximately HKD 29.8 million, an increase from HKD 20.3 million as of March 31, 2024[93] - The group had cash and cash equivalents of approximately HKD 3.2 million as of September 30, 2024, down from HKD 5.1 million as of March 31, 2024[93] - The company has no significant investments or acquisitions during the reporting period[96] - The company did not recommend any dividend distribution for the three and six months ended September 30, 2024, consistent with the previous year[61] - The company reported no significant contingent liabilities as of September 30, 2024[80] - The company had no significant capital commitments as of September 30, 2024[81] Share Capital and Financing Activities - The company plans to issue up to 215,500,000 shares at a price of HKD 0.04 each to expand its shareholder base and strengthen its financial position[147] - Placement 2 raised approximately HKD 5.3 million, with a net amount of about HKD 5.1 million, intended for health business development and women's lingerie operations[108] - As of September 30, 2024, the net proceeds from Placement 2 have been fully utilized[109] - Placement 3, completed on June 24, 2024, raised approximately HKD 4.2 million, with a net amount of about HKD 4.0 million, also aimed at health business development and women's lingerie operations[114] - As of September 30, 2024, the net proceeds from Placement 3 have been fully utilized[115] - The net proceeds from Placement 1, completed on March 20, 2023, have been fully utilized as of September 30, 2024[105] - Following the sale of 40,000,000 shares on June 7, 2023, Global Succeed's shareholding decreased to approximately 3.96%[130] - The company completed a placement of 41,832,500 new shares on June 24, 2024, raising approximately HKD 4.0 million, resulting in Global Succeed's shareholding being diluted to about 3.71%[131] - The company completed a rights issue on August 19, 2022, raising approximately HKD 26.0 million, resulting in Global Succeed's shareholding being diluted from approximately 25.4% to about 17.78%[127] - On March 20, 2023, the company announced the completion of a placement of 110,000,000 new shares, raising approximately HKD 16.2 million, further diluting Global Succeed's shareholding to about 7.92%[128] - As of September 30, 2024, Global Succeed Group holds 40,000,000 shares, representing 3.71% of the company's issued share capital[124] - No options have been granted under the share option scheme since its adoption on June 19, 2017, with 48,000,000 shares still available for grant as of April 1, 2024, and September 30, 2024[134] Risk Management - The group has no foreign exchange hedging policy but closely monitors foreign exchange risks, which are considered very low[104] - The group’s financial condition and operating performance may be affected by various financial risks, including foreign exchange risk, price risk, credit risk, interest rate risk, and liquidity risk[118] Business Operations - The main operating location of the company is in Kowloon, Hong Kong, at 6-8 Hung To Road, Kwun Tong[9] - The company has a registered office in the Cayman Islands, indicating its international presence[8] - The company operates in Hong Kong, Macau, and China, with different functional currencies for its subsidiaries[1] - The company primarily engages in the design, manufacturing, and sales of women's lingerie products, as well as online influencer agency services and lending business[1] - The company has only one reportable segment, which is the sale of lingerie products, while other segments do not meet the quantitative thresholds for reportable segments[38] - The customer base was diversified, with no individual customer contributing more than 10% of the group's revenue during the period[41] - The company has not engaged in any significant litigation or arbitration during the six months ending September 30, 2024[150] - There were no reported conflicts of interest or competitive businesses held by directors or major shareholders as of September 30, 2024[135]
海纳星空科技(08297) - 2025 - 中期业绩