Financial Performance - For the six months ended September 30, 2024, the company reported a revenue of $3,317,000, compared to $76,000 in the same period of 2023, indicating a significant increase[12]. - The company incurred a loss before tax of $652,000 for the six months ended September 30, 2024, compared to a loss of $648,000 in the same period of 2023[12]. - The net loss for the period was $652,000, resulting in a total equity of $6,306,000 as of September 30, 2024, down from $6,958,000[17]. - The company reported a basic and diluted loss per share of $0.13 for the six months ended September 30, 2024[12]. - The pre-tax loss for the period was $652,000, compared to a loss of $553,000 for the same period last year, reflecting a worsening financial performance[44]. - The group reported a net loss attributable to shareholders increased by approximately 17.9% compared to the same period last year, primarily due to reduced gross profit[62]. Revenue and Sales - The company reported revenue from external customers of $3,317,000 for the six months ended September 30, 2024, compared to $27,930,000 for the same period in 2023, indicating a significant decline[36]. - The group's revenue from coal and other commodity trading was approximately $3.3 million, a decrease of 88.12% or $24.61 million compared to $27.93 million in the same period last year[60]. - The total sales volume of coal sold to mainland China was approximately 0.038 million tons, down from approximately 0.33 million tons in the same period last year[60]. - The company's incurred a cost of goods sold of $3,241,000 for the period, a significant decrease from $27,780,000 in the prior year, indicating a reduction in sales volume[39]. - The group's gross profit for the period was approximately $0.08 million, compared to $0.15 million for the six months ended September 30, 2023, indicating a decline in gross margin due to reduced trading volume and unfavorable market conditions in mainland China[60]. Assets and Liabilities - Total assets decreased from $6,958,000 as of March 31, 2024, to $6,426,000 as of September 30, 2024[13]. - The company's cash and cash equivalents decreased from $6,258,000 at the beginning of the period to $2,769,000 at the end of the period[19]. - The company’s total liabilities decreased from $1,000,000 to $772,000 during the reporting period[13]. - As of September 30, 2024, the group's cash and bank balances totaled approximately $2.77 million, down from $6.26 million as of March 31, 2024[64]. - The debt-to-equity ratio as of September 30, 2024, was approximately 14.1%, compared to 12.43% as of March 31, 2024[64]. Operational Activities - The company experienced a net cash outflow from operating activities of $3,392,000 for the six months ended September 30, 2024[19]. - Selling and administrative expenses for the period were approximately $0.72 million, an increase from $0.70 million in the same period last year, primarily due to increased depreciation costs from a new two-year office lease agreement[60]. - The company recognized a right-of-use asset of approximately $323,000 for a two-year lease of an office in Hong Kong during the reporting period[46]. Corporate Governance and Management - The company has adhered to the corporate governance code as per the listing rules, with the exception of the separation of roles between the Chairman and CEO, which is currently held by Robert Lai[85]. - The board believes that the current structure does not compromise the balance of power and authority between the board and management, ensuring effective decision-making[85]. - The audit committee has reviewed the accounting principles and practices adopted by the group and has no objections regarding the interim financial statements for the six months ending September 30, 2024[89]. Future Plans and Strategies - The company plans to focus on market expansion and new product development in the upcoming quarters[10]. - The group is closely monitoring macroeconomic issues that may impact its performance and is planning strategies to manage these factors for potential long-term shareholder value creation[63]. Stock Options and Employee Information - No stock options were granted, exercised, lapsed, or locked during the six months ended September 30, 2024[71]. - The maximum number of stock options that can be granted under the stock option plan shall not exceed 10% of the issued share capital as of the date of shareholder approval[75]. - As of the adoption date, the total number of shares available for issuance under the stock option plan is 32,561,693 shares, representing 6.35% of the total issued shares as of the mid-term report date[75]. - The company provides competitive and fair remuneration based on individual and group performance, including stock option plans and medical insurance[84]. - The group had a total of 6 full-time employees as of September 30, 2024, consistent with the number as of March 31, 2024[84].
安域亚洲(00645) - 2025 - 中期财报