Financial Performance - Total revenue for the six months ended September 30, 2024, was approximately HKD 102,996,000, a decrease of 19.5% compared to HKD 128,012,000 for the same period last year[9]. - The health and beauty supplements and products business generated revenue of HKD 100,191,000, down 20.5% from HKD 126,004,000 year-on-year[9]. - The property investment business saw revenue increase by 39.7% to HKD 2,805,000 from HKD 2,008,000 in the previous year[9]. - The company reported a loss attributable to owners of HKD 4,261,000, compared to a profit of HKD 10,846,000 in the same period last year, representing a decline of 139.3%[9]. - Adjusted net profit for the period was HKD 2,739,000, down 81.4% from HKD 14,746,000 year-on-year[9]. - Gross profit for the same period was HKD 79,655,000, down 19% from HKD 98,164,000 year-over-year[58]. - Operating profit significantly decreased to HKD 706,000 from HKD 17,449,000, reflecting a decline of 95.9%[58]. - The net loss for the period was HKD 4,261,000, a substantial decline from a profit of HKD 10,799,000 in the same period last year[58]. - Basic and diluted loss per share was HKD (0.14), compared to earnings of HKD 0.35 per share in the prior year[62]. Revenue Breakdown - Total revenue decreased by approximately 19.5% from about HKD 128,012,000 to approximately HKD 102,996,000, primarily due to weak retail market and consumer sentiment in Hong Kong and Macau[25]. - Revenue from health and beauty supplements decreased by about 20.5% from approximately HKD 126,004,000 to about HKD 100,191,000, attributed to declining consumer spending and changing consumption patterns[25]. - Revenue from property investment increased by approximately 40.0% from about HKD 2,008,000 to approximately HKD 2,805,000, reflecting additional rental income from property usage changes[26]. - The group reported segment revenue of HKD 100,191,000 from health and beauty supplements and products, and HKD 2,805,000 from property investment, totaling HKD 102,996,000 for the six months ended September 30, 2024[86]. Expenses and Costs - Sales cost decreased by approximately 21.8% to about HKD 23,300,000, aligning with the revenue decline, while gross margin slightly increased by about 0.6% to approximately 77.3%[27]. - Selling and distribution expenses decreased by approximately 13.7% to about HKD 22,600,000, mainly due to prudent cost control measures on advertising and reduced sales commissions[29]. - Administrative expenses decreased by approximately 2.5% to about HKD 49,800,000, primarily due to reduced rent for designated counters in retail stores[30]. - Employee costs during the reporting period were approximately HKD 36,100,000, down from approximately HKD 38,300,000 in the same period last year[40]. Cash and Liquidity - Cash and cash equivalents increased by 47.3% to HKD 18,704,000 from HKD 12,700,000[9]. - As of September 30, 2024, the company's cash and bank balances were approximately HKD 18,700,000, an increase from approximately HKD 12,700,000 as of March 31, 2024[36]. - The net cash generated from operating activities was HKD 16,927,000, a decrease from HKD 36,260,000 in the previous year[72]. - The company reported a net increase in cash and cash equivalents of HKD 5,999,000, compared to HKD 8,295,000 in the same period last year[72]. - The company’s operating cash flow before changes in working capital was HKD 12,767,000, significantly lower than HKD 26,308,000 in the previous year[72]. Assets and Liabilities - Total assets as of September 30, 2024, were HKD 248,210,000, down from HKD 258,379,000 as of March 31, 2024[64]. - The company’s total liabilities decreased to HKD 292,798,000 from HKD 287,296,000 year-over-year[68]. - Accounts receivable as of September 30, 2024, totaled approximately HKD 25,825,000, down from HKD 27,652,000 as of March 31, 2024[100]. - Bank borrowings as of September 30, 2024, amounted to approximately HKD 121,490,000, an increase from HKD 110,965,000 as of March 31, 2024[106]. Strategic Initiatives - The company launched a new customer relationship management mobile app "御賞會" to enhance customer engagement and marketing strategies[22]. - The company plans to expand its market presence by promoting products through designated cross-border e-commerce platforms, targeting mainland Chinese customers[48]. - New products launched include "Zhongda Traditional Chinese Medicine Sensitive Patch" and upgraded versions of existing products, with further launches planned for the second half of the year[49]. - The company plans to continue expanding its product offerings and market presence, focusing on health and beauty sectors[79]. Corporate Governance - The board does not recommend declaring an interim dividend for the reporting period, consistent with the previous year[46]. - The company has complied with the corporate governance code as per the listing rules during the reporting period[139]. - All directors confirmed compliance with the standard code for securities trading during the reporting period, with no violations reported[141]. - The Audit Committee consists of three independent non-executive directors, overseeing financial reporting and internal controls[142].
顺腾国际控股(00932) - 2025 - 中期财报