Financial Performance - For the six months ended September 30, 2024, the group recorded unaudited total revenue of approximately HKD 45.8 million, a decrease of about 16.0% compared to HKD 54.5 million for the same period in 2023[8] - The profit attributable to the owners of the company for the six months ended September 30, 2024, was approximately HKD 10.9 million, down from HKD 17.2 million in the same period of 2023, representing a decrease of about 36.6%[8] - Revenue for the six months ended September 30, 2024, decreased to approximately HKD 45.8 million, a reduction of about HKD 8.7 million or 16.0% compared to HKD 54.5 million for the same period in 2023[21] - Gross profit for the same period was HKD 26,515,000, down 19.6% from HKD 33,000,000 year-on-year[48] - The company's operating profit was HKD 13,165,000, a decline of 37.7% compared to HKD 21,151,000 in the previous year[48] - Net profit attributable to the company's owners was HKD 10,918,000, representing a decrease of 36.7% from HKD 17,232,000 in the prior year[48] - The total comprehensive income for the six months ended September 30, 2024, was HKD 11,289,000, compared to HKD 16,107,000 for the same period in 2023, representing a decrease of approximately 30.3%[50] - The group recorded a profit attributable to owners of approximately HKD 10.9 million, down HKD 6.3 million from HKD 17.2 million for the previous period, primarily due to reduced revenue[23] Revenue Breakdown - The revenue from sales of LED lighting devices increased by approximately 39.9% to HKD 37.9 million for the six months ended September 30, 2024, compared to HKD 27.1 million for the same period in 2023[14] - Revenue from LED lighting system consulting and maintenance services decreased by approximately 25.0% to HKD 1.8 million for the six months ended September 30, 2024, down from HKD 2.4 million in the same period of 2023[16] - Revenue from integrated LED lighting solution services dropped significantly by approximately 77.3% to HKD 5.4 million for the six months ended September 30, 2024, compared to HKD 23.8 million for the same period in 2023[17] - Revenue from sales of three-dimensional printing materials and services decreased by approximately 33.3% to HKD 0.6 million for the six months ended September 30, 2024, down from HKD 0.9 million in the same period of 2023[18] - The revenue from project consulting and maintenance services for the six months ended September 30, 2024, was HKD 7,188,000, compared to HKD 26,169,000 in the same period of 2023, indicating a significant decrease of approximately 72.6%[58] Costs and Expenses - Direct costs decreased to approximately HKD 19.3 million, a reduction of about HKD 2.2 million or 10.2% from HKD 21.5 million for the previous period, consistent with the revenue decline[21] - Gross profit fell to approximately HKD 26.5 million, down HKD 6.5 million, with a gross margin decrease from 60.6% to 57.9% due to increased direct costs related to LED lighting solution installation[21] - Administrative expenses increased to approximately HKD 14.5 million, an increase of about HKD 1.2 million or 9.0% from HKD 13.3 million, primarily due to higher salaries and depreciation expenses[22] - Employee benefits expenses, including director remuneration, increased to HKD 11,260,000 for the six months ended September 30, 2024, up 9.5% from HKD 10,288,000 in the prior year[60] Dividends and Shareholder Returns - The board of directors does not recommend the payment of an interim dividend for the six months ended September 30, 2024[9] - The group did not declare an interim dividend for the six months ended September 30, 2024[24] - The group did not declare or pay any dividends for the six months ended September 30, 2024, consistent with the same period in 2023[68] Assets and Liabilities - As of September 30, 2024, the group had cash and bank balances totaling approximately HKD 97.0 million, an increase from HKD 91.8 million as of March 31, 2024[26] - Current assets net amounted to approximately HKD 91.0 million as of September 30, 2024, compared to HKD 82.1 million as of March 31, 2024[27] - Total equity attributable to owners increased to approximately HKD 102.5 million as of September 30, 2024, up from approximately HKD 91.2 million as of March 31, 2024[28] - The total assets less current liabilities amounted to HKD 102,975,000 as of September 30, 2024, an increase from HKD 92,115,000 as of March 31, 2024[49] - The company has a net asset value of HKD 102,468,000, up from HKD 91,179,000 in the previous period[49] - Trade receivables net amount as of September 30, 2024, was HKD 8,621,000, an increase of 79.5% from HKD 4,812,000 as of March 31, 2024[72] - The total amount of trade and other payables as of September 30, 2024, was HKD 8,468,000, down 25.0% from HKD 11,289,000 as of March 31, 2024[76] Market and Strategic Outlook - The group primarily sells LED lighting devices and provides integrated LED lighting solution services to well-known luxury brand retail stores in Asia[11] - The company is facing challenges in the three-dimensional printing retail market, contributing to the decline in revenue from related services[18] - Approximately 63.0% of sales were generated from the Chinese market, indicating a strong reliance on this region[46] - The company plans to continue seeking new luxury brand clients to expand its customer base through existing networks[46] - The company continues to focus on expanding its LED lighting solutions and 3D printing services, aiming to enhance its market presence and product offerings in the upcoming periods[53] Corporate Governance - The board is committed to maintaining high levels of corporate governance to enhance transparency and protect shareholder interests[98] - The audit committee has reviewed the unaudited consolidated results for the six months ended September 30, 2024, and believes they comply with applicable accounting standards and GEM listing rules[101] - The company has established an audit committee in accordance with GEM listing rules to oversee financial reporting processes[101] - The board includes both executive and independent non-executive directors, ensuring a balanced governance structure[102] - The chairman and CEO roles are held by the same individual, Tan Yiming, which the board believes benefits the group's business outlook and operational efficiency[98] - The board will continue to review the effectiveness of the corporate governance structure to assess the need for separating the roles of chairman and CEO[98] Other Information - The company has not engaged in any significant related party transactions during the reporting period[82] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended September 30, 2024[97] - The company has a total of 1,000,000,000 issued and fully paid ordinary shares as of September 30, 2024[79] - Mr. Tan Yiming holds a controlling interest of 51% in the company through Garage Investment Limited, which owns 510,000,000 shares[87] - The company has not granted or exercised any share options under the share option scheme since its adoption[94] - There were no competitive interests held by any directors or major shareholders that could conflict with the company's business as of September 30, 2024[96] - There have been no significant subsequent events reported after the reporting period[99] - The company has maintained sufficient public float as of the report date[100]
英马斯集团(08136) - 2025 - 中期财报