Financial Performance - For the six months ended September 30, 2024, the company reported total revenue of HKD 13,985,000, a decrease of 27.4% compared to HKD 19,268,000 for the same period in 2023[12]. - The gross profit for the same period was HKD 10,071,000, down 25.1% from HKD 13,437,000 in 2023[12]. - The company recorded a loss before tax of HKD 12,678,000 for the six months ended September 30, 2024, compared to a loss of HKD 12,246,000 in the previous year, indicating a 3.5% increase in losses[12]. - The basic and diluted loss per share for the six months was HKD 1.17, compared to HKD 1.22 in the same period last year, reflecting a slight improvement[12]. - The company reported a total comprehensive loss attributable to owners of the company of HKD 12,678,000 for the six months, compared to HKD 12,618,000 in 2023, showing a marginal increase in losses[12]. - The company reported a net cash outflow from operating activities of HKD (3,368,000) for the six months ended September 30, 2024, compared to HKD (7,505,000) for the same period in 2023, showing an improvement of approximately 55.2%[21]. - The net loss for the period was HKD (12,678,000), compared to a loss of HKD (12,357,000) in the previous period, indicating a slight increase in losses[18]. - The company reported a total loss before tax of HKD 12,678,000, compared to a loss of HKD 12,246,000 in the same period last year[42]. - 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[93]. Expenses and Cost Management - The company incurred total selling expenses of HKD 11,772,000 for the six months, which is an increase of 18.6% from HKD 9,907,000 in 2023[12]. - The administrative and other operating expenses were HKD 9,707,000, down 27.5% from HKD 13,395,000 in the previous year, indicating cost control measures[12]. - Total employee costs for the six months ended September 30, 2024, amounted to HKD 6,441,000, a decrease of 43.5% from HKD 11,183,000 in the same period last year[53]. Assets and Liabilities - As of September 30, 2024, non-current assets decreased to HKD 9,448,000 from HKD 12,801,000 as of March 31, 2024, representing a decline of approximately 26.3%[14]. - Current assets totaled HKD 40,518,000, down from HKD 46,579,000, indicating a decrease of about 13.0%[14]. - Total liabilities increased to HKD 70,278,000 from HKD 66,867,000, reflecting a rise of about 5.9%[14]. - The company's cash and cash equivalents decreased to HKD 3,325,000 from HKD 10,631,000, a decline of approximately 68.8%[21]. - The company's equity decreased to HKD (21,335,000) from HKD (9,075,000), representing a decline of approximately 134.5%[16]. - As of September 30, 2024, the company's current liabilities exceeded its current assets by HKD 29,760,000, indicating liquidity challenges[30]. - The group’s net current liabilities were approximately HKD 29.8 million, compared to HKD 20.3 million as of March 31, 2024[94]. Revenue Breakdown - Revenue from external customers for women's lingerie products was HKD 13,985,000, a decrease of 22.8% compared to HKD 18,059,000 for the same period last year[42]. - Revenue from Hong Kong was HKD 12,960,000, down from HKD 17,610,000 in the previous year, reflecting a decline of 26.8%[48]. - Revenue from women's lingerie sales for the three months ended September 30, 2024, was HKD 5,507,000, down 26.0% from HKD 7,439,000 in the same period last year[51]. Strategic Focus and Future Plans - The company is focusing on new product development and market expansion strategies to enhance future performance[12]. - The management remains cautious about market conditions and is adjusting its operational strategies accordingly[12]. - The company plans to continue exploring opportunities in Hong Kong, Macau, and China to create long-term value for shareholders despite a challenging business environment[85]. - The company aims to maintain a prudent approach to financial management, focusing on cash flow and cost reduction strategies[85]. - The company plans to implement new accounting standards that are expected to have no significant impact on its financial performance[36]. Shareholder and Capital Management - The total issued share capital as of September 30, 2024, was HKD 10,781,470, divided into 1,078,147,000 shares, an increase from HKD 10,363,145 and 1,036,314,500 shares as of March 31, 2024[95]. - The group had 40 full-time employees as of September 30, 2024, down from 68 as of March 31, 2024[100]. - The company completed a rights issue in August 2022, raising a net amount of approximately HKD 26.0 million, which diluted Global Succeed's shareholding from approximately 25.4% to about 17.78%[128]. - The company has undergone significant changes in its board of directors, with multiple appointments and resignations effective from July to October 2024[121]. - The company has not granted any options under the share option scheme since its adoption in June 2017, with 48,000,000 shares still available for grant as of September 30, 2024[135]. Risk Management - The company faces various financial risks including foreign exchange risk, price risk, credit risk, interest rate risk, and liquidity risk, with no changes in risk management policies since year-end[119]. - The company’s overall risk management plan aims to mitigate potential adverse impacts on financial performance due to market unpredictability[119]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes during the reporting period, except for a temporary absence of a company secretary from October 22 to November 7, 2024[140]. - The company has not been involved in any significant litigation or arbitration for the six months ending September 30, 2024[151]. Miscellaneous - The company plans to change its English name from "Ocean Star Technology Group Limited" to "Zhongchen Xiangxi Holdings Limited" and adopt a new Chinese name[147]. - The interim results announcement is available on the Hong Kong Stock Exchange website and the company's website[153]. - The chairman expresses gratitude to management, employees, partners, suppliers, and shareholders for their support over the past six months[154].
海纳星空科技(08297) - 2025 - 中期财报