Revenue Performance - For the six months ended September 30, 2024, the company recorded revenue of approximately HKD 40,200,000, an increase of about 78.7% compared to HKD 22,500,000 for the same period in 2023[16]. - Revenue for the six months ended September 30, 2024, reached HKD 40,206,000, a significant increase of 79.0% compared to HKD 22,468,000 in the same period of 2023[109]. - Revenue from the United States accounted for approximately 65.9% of total revenue for the six months ended September 30, 2024, up from 42.2% in the same period of 2023[16]. - Revenue from the United States market surged to HKD 26,466,000, compared to HKD 9,490,000 in the previous year, marking a growth of 178.5%[109]. - Sales of bridesmaid dresses generated revenue of approximately HKD 25,800,000 for the six months ended September 30, 2024, up from HKD 10,500,000 in the same period of 2023, driven by an increase in sales volume from 33,400 units to 121,900 units[20]. - Sales of special occasion dresses increased from approximately HKD 2,000,000 to HKD 5,000,000, with sales volume rising from 3,700 units to 10,600 units during the same period[20]. - Major customer A contributed HKD 18,343,000 to the company’s revenue, while customer B contributed HKD 5,406,000, and customer C contributed HKD 4,994,000 for the six months ended September 30, 2024[117]. Profitability and Loss - The gross profit margin increased from 9.8% for the six months ended September 30, 2023, to 13.2% for the same period in 2024[16]. - The company recorded a loss of approximately HKD 10,200,000 for the six months ended September 30, 2024, a decrease of about 30.6% from a loss of HKD 14,700,000 in the same period of 2023[16]. - The company reported a net loss of HKD 10,194,000 for the six months ended September 30, 2024, compared to a loss of HKD 14,665,000 in the same period of 2023, indicating a reduction in losses by 30.0%[126]. - The basic loss per share for the period was HKD 1.2, compared to HKD 1.7 for the same period last year, reflecting a decrease in loss per share by 29.4%[84]. - The company incurred a loss before tax of HKD 10,193,000, an improvement from a loss of HKD 14,646,000 in the prior year, indicating a reduction in losses by approximately 30.5%[84]. Cost Management - The cost of sales increased from approximately HKD 20,300,000 to HKD 34,900,000, reflecting a rise of about 71.9%, consistent with the revenue increase[23]. - Selling and distribution expenses increased by approximately HKD 300,000 or about 11.1% to approximately HKD 3,000,000, mainly due to higher transportation costs and increased advertising expenses[27]. - Administrative expenses decreased by approximately HKD 1,300,000 or about 11.9% to approximately HKD 9,600,000, attributed to cost control measures[28]. - The management team is implementing cost control measures to navigate the prolonged business downturn and is prepared to seize future growth opportunities[19]. Financial Position - Total assets as of September 30, 2024, were HKD 98,803,000, down from HKD 110,134,000 as of March 31, 2024[89][90]. - The company's current liabilities increased to HKD 57,392,000 from HKD 58,658,000, indicating a slight decrease in current liabilities by 2.2%[90]. - Non-current assets totaled HKD 40,205,000, a decrease from HKD 40,945,000 as of March 31, 2024[89]. - The company reported a net asset value of HKD 36,555,000 as of September 30, 2024, down from HKD 46,531,000 as of March 31, 2024[92]. - The group’s debt-to-equity ratio increased to 55.1% as of September 30, 2024, compared to 48.3% as of March 31, 2024, due to increased losses[36]. Share Capital and Financing - The company's issued share capital increased to HKD 10,100,000 with a total of 50,545,930 shares after a share consolidation effective October 31, 2024[35]. - Following the placement, the total issued shares increased from 842,432,607 to 1,010,918,607 shares[45]. - The company successfully placed a total of 168,486,000 new shares at a price of HKD 0.0315 per share, raising approximately HKD 4,900,000 for general working capital and loan repayment[45]. - The company has secured loans totaling HKD 6,000,000 with repayment terms of 96 months[74]. - The company has established several bank financing agreements secured by its assets and guarantees from directors[143]. Employee and Compensation - As of September 30, 2024, the total employee cost was approximately HKD 13,600,000, an increase from HKD 12,800,000 for the same period last year[49]. - The company has a total of 216 employees as of September 30, 2024, down from 227 employees as of March 31, 2024[49]. - The company regularly reviews its compensation policies and adjusts according to industry standards[49]. - The remuneration policy for employees is determined based on qualifications, experience, and performance, with the remuneration for directors and senior management being recommended by the remuneration committee[76]. Other Financial Information - Other income rose by approximately HKD 50,000 or about 20.8% to approximately HKD 290,000, primarily due to increased rental income[25]. - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year[121]. - The company incurred financial costs of HKD 847,000 for the six months ended September 30, 2024, compared to HKD 465,000 in the same period of 2023, reflecting an increase of 82.0%[118]. - The company’s depreciation of right-of-use assets was HKD 1,368,000 for the period, slightly down from HKD 1,384,000 in the previous year[120]. - The company has no significant capital commitments or contingent liabilities as of September 30, 2024[50][51].
嘉艺控股(01025) - 2025 - 中期财报