Financial Performance - The group's revenue for the six months ended September 30, 2024, was approximately HKD 30.2 million, a decrease of about HKD 4.6 million or 13.2% compared to HKD 34.8 million for the same period in 2023[5] - The net loss for the group for the six months ended September 30, 2024, was approximately HKD 1.5 million, significantly improved from a net loss of HKD 12.8 million for the same period in 2023[5] - Total comprehensive expenses for the group for the six months ended September 30, 2024, were approximately HKD 1.5 million, down from HKD 12.8 million for the same period in 2023[5] - Gross profit for the six months ended September 30, 2024, was HKD 19.6 million, compared to HKD 23.4 million for the same period in 2023[9] - The company reported a basic and diluted loss per share of HKD 0.09 for the six months ended September 30, 2024, compared to HKD 0.81 for the same period in 2023[8] - The basic loss per share for the six months ended September 30, 2024, was HKD (0.09), compared to HKD (0.81) for the same period in 2023, indicating a reduction in losses[31] - The company's revenue decreased from approximately HKD 34.8 million to about HKD 30.2 million, a decline of approximately 13.2% due to reduced sales of furniture and home accessories and decreased commission income[49] Assets and Liabilities - The total assets as of September 30, 2024, were approximately HKD 92.5 million, an increase from HKD 90.8 million as of March 31, 2024[11] - The net asset value as of September 30, 2024, was HKD 33.8 million, down from HKD 35.3 million as of March 31, 2024[12] - Non-current assets as of September 30, 2024, totaled HKD 16.3 million, compared to HKD 15.9 million as of March 31, 2024[11] - The net amount of trade receivables was HKD 21,812 thousand as of September 30, 2024, compared to HKD 39,891 thousand as of March 31, 2024, indicating a significant decrease[39] - The net amount of loans receivable increased from HKD 14,808 thousand to HKD 22,160 thousand, reflecting a growth of approximately 49.5%[36] Cash Flow - The net cash used in operating activities for the six months ended September 30, 2024, was HKD (3,142) thousand, a significant improvement from HKD (16,152) thousand in the same period of 2023[16] - The net cash and cash equivalents decreased to HKD 1,798 thousand as of September 30, 2024, from HKD 3,190 thousand a year earlier[16] - The group incurred financing activities cash outflow of HKD (6,553) thousand, contrasting with cash inflow of HKD 14,944 thousand in the previous year[16] - The group’s cash flow from investing activities was HKD (699) thousand, a decrease from HKD (5,081) thousand in the same period last year[16] Revenue Sources - Revenue from furniture and home decor sales was HKD 26,482 thousand, a decline of 10.6% compared to HKD 29,458 thousand in the previous year[25] - The group reported a total of HKD 7,257 thousand in other income, which is an increase from HKD 3,631 thousand in the same period last year[27] - Other income increased from approximately HKD 3.6 million to about HKD 7.3 million, an increase of approximately 99.9%, mainly due to revenue from software and IT services provided by Hefei Qijia and its subsidiaries[52] - Direct sales revenue was approximately HKD 26.0 million for the six months ended September 30, 2024, down about 10.1% from approximately HKD 28.9 million for the same period in 2023[68] - Commission income decreased from approximately HKD 3.5 million for the six months ended September 30, 2023, to approximately HKD 0.8 million for the same period in 2024[72] - Distribution and licensing fee income was approximately HKD 1.0 million for the six months ended September 30, 2024, compared to none for the same period in 2023[70] Expenses - The cost of sales fell from approximately HKD 11.4 million to about HKD 10.6 million, a decrease of approximately 6.9% primarily due to lower sales of furniture and home accessories[50] - Sales and marketing expenses decreased from approximately HKD 15.7 million to about HKD 13.8 million, a decline of approximately 11.7% due to reduced employee salaries and depreciation expenses[54] - Administrative expenses increased by approximately 12.8% to about HKD 13.0 million for the six months ended September 30, 2024, compared to approximately HKD 11.5 million for the same period in 2023[55] Dividends and Share Options - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2024[5] - The company does not recommend the payment of an interim dividend for the relevant period[96] - The company has not granted any share options under the share option scheme during the relevant period[98] Strategic Developments - The group established a new wholly foreign-owned enterprise in Hefei, China, in January 2024, primarily engaged in software and IT services[63] - The group acquired Hefei Non-Human Visual Technology Co., Ltd. in March 2024, which also focuses on software and IT services[63] - The company aims to enhance its revenue sources through integration and investment while exploring new opportunities[76] - Consumer loan services provided by 易华 and software and IT services from 合肥齐家 contributed positively to the group's profits for the six months ending September 30, 2024[76] - The company operates two TREE retail stores and a commercial retail platform in Hong Kong, focusing on these areas for future growth[76] Market Outlook - The retail sales in Hong Kong are projected to decline by 6% in 2024 due to ongoing economic challenges and competitive market conditions[76] - The company anticipates that lower interest rates and government policies aimed at boosting the local economy will improve consumer confidence and retail conditions by 2025[76] Compliance and Review - The audit committee has reviewed the unaudited consolidated financial statements for the relevant period[101]
中显智能齐家控股(08395) - 2025 - 中期财报