Financial Performance - For the first half of the fiscal year 2025, the media segment's revenue was HKD 278.6 million, a decrease of 1.6% compared to HKD 283.1 million in the first half of fiscal year 2024[18]. - The gross profit for the media segment in the first half of fiscal year 2025 was HKD 145.4 million, down 5.0% from HKD 153.1 million in the same period last year[18]. - The gross margin for the media segment decreased to 52.2% in the first half of fiscal year 2025 from 54.1% in the first half of fiscal year 2024[18]. - E-commerce and retail segment revenue fell by 47.8% from HKD 156,900,000 in the first half of FY2024 to HKD 81,900,000 in FY2025, with gross profit decreasing by 48.3% to HKD 27,800,000[22]. - The overall gross profit of the group decreased by approximately 16.2% from HKD 206,800,000 in the first half of FY2024 to HKD 173,200,000 in FY2025, while the overall gross margin increased from about 47.0% to 48.1%[25]. - As of September 30, 2024, the group's revenue for the six months was approximately HKD 360,498,000, a decrease of 18.1% compared to HKD 440,007,000 for the same period in 2023[54]. - The group's gross profit for the six months ended September 30, 2024, was HKD 173,225,000, down from HKD 206,826,000 in the previous year, reflecting a decline of 16.3%[54]. - The group reported a profit before tax of HKD 25,052,000 for the six months, compared to a loss of HKD 7,738,000 in the same period last year[54]. - The net profit for the period was HKD 20,235,000, a significant recovery from a loss of HKD 9,983,000 in the previous year[54]. - The company reported a total of HKD 20,235,000 in profit for the period, contributing to a total comprehensive income of HKD 21,913,000[58]. - For the six months ended September 30, 2024, the group reported a profit of HKD 20,235,000 compared to a loss of HKD 9,983,000 for the same period in 2023, representing a significant turnaround[84]. - Basic earnings per share for the six months ended September 30, 2024, was HKD 0.99, compared to a loss of HKD 0.49 in the previous year[84]. Cost Management and Efficiency - The company is focusing on operational efficiency and cost management to ensure profitability growth across all segments[8]. - Key initiatives include automating repetitive administrative tasks and implementing strict cost control measures[9]. - The group reduced selling and marketing expenses by 28.9% to HKD 65,200,000, with the percentage of revenue decreasing from 20.9% to 18.1%[26]. - Administrative and operating expenses decreased by 32.1% to HKD 84,600,000, with the percentage of revenue dropping from 28.3% to 23.5%[28]. - The group’s cost of revenue decreased by approximately 19.7% from HKD 233,200,000 in the first half of FY2024 to HKD 187,300,000 in FY2025[24]. - The group expects cost-saving measures to continue positively impacting financial performance for the remainder of the fiscal period[27]. - The group incurred a cost of goods sold of HKD 52,147,000 for the six months ended September 30, 2024, down from HKD 97,122,000 in the previous year, reflecting improved cost management[81]. Cash Flow and Financial Stability - Operating cash inflow for the first half of FY2025 was HKD 22,600,000, significantly up from HKD 3,100,000 in the first half of FY2024[31]. - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 22,635,000, a significant increase from HKD 3,092,000 in the same period last year[59]. - The company reported a net cash outflow from investing activities of HKD 41,493,000 for the six months ended September 30, 2024, compared to a net inflow of HKD 3,101,000 in the previous year[59]. - The cash and cash equivalents at the end of the reporting period were HKD 123,489,000, down from HKD 183,492,000 at the beginning of the period, representing a decrease of approximately 32.7%[59]. - The group had cash and cash equivalents of HKD 123,500,000 as of September 30, 2024, primarily held in HKD, USD, and RMB[34]. - The group has implemented prudent treasury policies to ensure sufficient cash flow and financial stability amid global economic uncertainties[42]. Assets and Liabilities - As of September 30, 2024, the company's total assets amounted to HKD 526,996,000, compared to HKD 511,757,000 as of March 31, 2024, reflecting an increase of approximately 2.4%[55]. - The total equity as of September 30, 2024, was HKD 474,047,000, down from HKD 480,332,000 as of March 31, 2024, indicating a decrease of approximately 1.1%[57]. - The company's non-current assets totaled HKD 101,253,000 as of September 30, 2024, compared to HKD 118,120,000 as of March 31, 2024, reflecting a decrease of approximately 14.3%[55]. - The company's current liabilities increased to HKD 132,820,000 as of September 30, 2024, from HKD 123,496,000 as of March 31, 2024, indicating an increase of approximately 7.0%[55]. - Total trade and other payables as of September 30, 2024, were HKD 88,086,000, compared to HKD 73,387,000 as of March 31, 2024, indicating an increase in liabilities[95]. - Trade receivables as of September 30, 2024, amounted to HKD 133,500,000, an increase from HKD 125,372,000 as of March 31, 2024[88]. - The group recognized contract assets of HKD 20,530,000 related to advertising space provided, up from HKD 9,625,000 as of March 31, 2024[91]. Shareholder Information and Dividends - The company paid dividends totaling HKD 29,210,000 during the reporting period[59]. - The group declared and paid a final dividend of HKD 0.00359 per ordinary share, totaling HKD 7,370,000, and a special dividend of HKD 0.01063 per ordinary share, totaling HKD 21,830,000[80]. - The board has declared an interim dividend of HKD 0.00179 per ordinary share for the first half of the fiscal year 2025, compared to no dividend in the first half of fiscal year 2024[115]. - As of September 30, 2024, CORE Capital holds 1,485,000,000 shares, accounting for 72.29% of the total issued shares[112]. - As of September 30, 2024, the company has issued 2,054,129 shares, representing approximately 0.04% of the total issued shares[104]. Corporate Governance and Compliance - The company has confirmed compliance with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual, Mr. Ma[119]. - The board believes that Mr. Ma's dual role as Chairman and CEO provides strong and effective leadership for the company[119]. - The company has adopted the standard code of conduct for securities trading by directors, confirming full compliance with no non-compliance incidents reported during the six months ended September 30, 2024[120]. - The interim financial information for the six months ended September 30, 2024, has been reviewed by the company's audit committee[132]. - The company emphasizes the importance of corporate transparency and accountability to maintain stakeholder trust and long-term value creation[119]. Market and Investment Activities - The company has not made any significant investments or acquisitions during the six months ended September 30, 2024[50]. - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending September 30, 2024[117]. - The company has no treasury shares as of September 30, 2024[118]. - The company has not reported any competition or conflict of interest involving its directors or major shareholders as of September 30, 2024[114]. - The company acquired approximately 30 units of Bitcoin at a cost of HKD 13,200,000 in December 2021[101]. - As of November 21, 2024, the market value of Bitcoin held by the company is HKD 22,807,000[101]. - The company's intangible assets include Bitcoin and Ethereum valued at approximately HKD 20,613,000 and HKD 12,047,000 respectively as of September 30, 2024[101]. Employment and Human Resources - The group employed 421 staff as of September 30, 2024, down from 523 staff a year earlier, resulting in a reduction in employee costs to approximately HKD 133,800,000 from HKD 171,100,000[52].
HYPEBEAST(00150) - 2025 - 中期财报