Financial Performance - The group's revenue for the six months ended September 30, 2024, was approximately HKD 11.4 million, a decrease of about 15.6% compared to HKD 13.5 million for the same period in 2023[4]. - Gross profit for the reporting period was approximately HKD 8.7 million, down about 15.5% from HKD 10.3 million in the previous year, with a gross margin of approximately 76.1%[8]. - The net loss for the reporting period was approximately HKD 6.6 million, an increase from a net loss of HKD 6.3 million in the same period last year[8]. - The group reported revenue of HKD 11,442,000 for the six months ended September 30, 2024, a decrease of 15.1% compared to HKD 13,489,000 for the same period in 2023[56]. - Gross profit for the period was HKD 8,702,000, down 15.5% from HKD 10,301,000 year-on-year[56]. - The group incurred a loss before tax of HKD 6,556,000, compared to a loss of HKD 6,301,000 in the previous year, reflecting a 4.1% increase in losses[56]. - Basic and diluted loss per share for the period was HKD 1.81, compared to HKD 1.74 in the same period last year, indicating a slight increase in loss per share[56]. - The company reported a loss attributable to equity holders of HKD 6,556,000 for the six months ended September 30, 2024, compared to a loss of HKD 6,301,000 for the same period in 2023, indicating an increase in loss of approximately 4.1%[98]. Cash Flow and Liquidity - Cash and cash equivalents decreased by approximately HKD 0.5 million or 17.2% to about HKD 2.4 million[14]. - The current ratio at the end of the reporting period was approximately 0.44 times, down from 0.53 times as of March 31, 2024[14]. - Operating cash flow for the six months ended September 30, 2024, was HKD 1,749,000, up from HKD 1,375,000 in the same period of 2023, representing an increase of approximately 27.2%[64]. - The net cash inflow from operating activities for the group during the interim period is approximately HKD 1,700,000, with expectations for continued improvement in cash flow management over the next twelve months[71]. - As of September 30, 2024, the group has available undrawn bank financing of HKD 6,181,000, an increase from HKD 4,931,000 in 2023[71]. Assets and Liabilities - Current liabilities net value increased by approximately HKD 4.1 million or 37.3% to about HKD 15.1 million as of the reporting period end[14]. - As of September 30, 2024, total assets decreased to HKD 73,656,000 from HKD 78,158,000 as of March 31, 2024, representing a decline of approximately 5.4%[58]. - The company's total equity as of September 30, 2024, was HKD 13,000, compared to HKD 6,569,000 as of March 31, 2024, indicating a substantial decrease in equity[58]. - The company reported a total of HKD 14,474,000 in bank borrowings due within one year as of September 30, 2024, down from HKD 15,836,000 as of March 31, 2024, indicating a decrease of about 8.6%[109]. - The company’s total liabilities increased to HKD 73,643,000 from HKD 71,589,000, indicating a rise of about 2.9%[58]. Employee and Management - The group had 50 employees at the end of the reporting period, with total employee costs amounting to approximately HKD 5.5 million[24]. - The total remuneration for key management personnel was HKD 1,395,000 for the six months ended September 30, 2024, down from HKD 1,734,000 for the same period in 2023[130]. Corporate Governance - The group maintained high standards of corporate governance and complied with the relevant provisions of the corporate governance code during the reporting period[33]. - The board confirmed that all directors complied with the code of conduct for securities transactions during the reporting period[34]. - The group did not purchase, sell, or redeem any of its listed securities during the reporting period[35]. Capital Expenditure and Investments - Capital expenditure during the reporting period was approximately HKD 120,000, compared to HKD 85,000 for the same period in 2023[17]. - The company acquired property, plant, and equipment valued at approximately HKD 120,000 during the six months ended September 30, 2024, compared to HKD 85,000 in the same period of 2023, indicating a growth of about 41.2%[99]. Dividends and Share Capital - No dividends were declared for the reporting period ending September 30, 2023[25]. - The company did not declare any interim dividends for the six months ended September 30, 2024, consistent with the previous year[95]. - At the end of the reporting period, the directors and senior management held 270,000,000 shares, representing approximately 74.66% of the total issued shares[37]. - Profit Ocean, a controlled entity, held 270,000,000 shares, accounting for 74.66% of the total issued shares[42]. - The issued share capital of Profit Ocean is equally owned by Tri-Luck, Wealth City, Tianjing, and Coastal Lion, each holding 25%[44]. Other Financial Information - Total financing costs for the six months ended September 30, 2024, amount to HKD 2,442,000, compared to HKD 2,174,000 in the previous year, reflecting an increase of 12.3%[88]. - Other income for the six months ended September 30, 2024, totals HKD 16,000, down from HKD 29,000 in the same period of 2023, indicating a decline of 44.8%[86]. - The company did not recognize deferred tax assets for unrecognized tax losses due to the inability to predict future profit streams[93]. - The audit committee has reviewed the unaudited condensed consolidated results and confirmed compliance with applicable accounting standards[53]. - The financial statements for the interim period have been reviewed by the audit committee and approved by the board for publication on November 28, 2024[72].
英记茶庄集团(08241) - 2025 - 中期财报