Financial Performance - For the six months ended September 30, 2024, the company reported revenue of approximately HKD 810 million, an increase of 11.5% compared to the same period last year[11]. - Gross profit for the same period was HKD 24.4 million, representing a decrease of 16.7% year-on-year[11]. - Net profit decreased by 22.0% to HKD 9.6 million, primarily due to increased sales costs and reduced other income[11]. - The group's revenue for the period was approximately HKD 810,000,000, an increase of 11.5% compared to approximately HKD 726,700,000 in the corresponding period, driven by increased diesel demand and the recovery of cross-border land freight[19]. - Revenue for the six months ended September 30, 2024, was HKD 809,982,000, an increase from HKD 785,568,000 in the same period last year[81]. - The company reported a profit of HKD 9,616,000 for the six months ended September 30, 2024, down 21.8% from HKD 12,301,000 in the same period last year[136]. Revenue Breakdown - Revenue from diesel sales was approximately HKD 768,300,000 and HKD 685,300,000 for the current and corresponding periods, respectively, accounting for 94.9% and 94.3% of total revenue[20]. - Revenue from lubricating oil sales was approximately HKD 20,500,000 and HKD 22,100,000, representing 2.5% and 3.0% of total revenue for the current and corresponding periods[21]. - The revenue from fleet card services increased by approximately HKD 2,900,000 or 18.8% to approximately HKD 18,300,000 due to marketing activities stimulating customer spending[23]. - Diesel sales contributed HKD 768,280,000, up 12.1% from HKD 685,333,000 in the previous year[104]. - Fleet card services revenue increased to HKD 18,329,000, representing an 18.5% growth from HKD 15,443,000[104]. - Lubricant sales decreased slightly to HKD 20,465,000, down 7.4% from HKD 22,090,000[104]. Cost and Expenses - Total sales costs were approximately HKD 785,600,000 and HKD 697,300,000 for the current and corresponding periods, reflecting an increase of 12.7%[25]. - Selling and distribution expenses increased by approximately HKD 500,000 or 62.5% to approximately HKD 1,300,000 due to higher storage tank consumption and incentives for sales personnel[28]. - Administrative and operating expenses slightly decreased to HKD 12,107,000 from HKD 12,759,000 year-on-year[81]. - Total employee costs rose to HKD 5,345,000, an increase of 17.2% from HKD 4,562,000 in the previous year[133]. Cash Flow and Assets - The company reported a net cash inflow from operating activities of HKD 38,663,000 for the six months ended September 30, 2024, compared to HKD 14,005,000 for the same period in 2023, indicating a significant increase of 175.5%[91]. - Cash and cash equivalents rose to HKD 56,128,000 as of September 30, 2024, compared to HKD 34,160,000 as of March 31, 2024, marking an increase of 64.4%[94]. - The company’s inventory decreased to HKD 9,577,000 as of September 30, 2024, from HKD 11,602,000 as of March 31, 2024, a reduction of approximately 17.4%[84]. - Trade and other receivables decreased to HKD 72,312,000 as of September 30, 2024, from HKD 90,348,000 as of March 31, 2024, indicating a decline of about 20.0%[84]. Financial Position - As of September 30, 2024, the current ratio was 2.8, slightly down from 2.9 on March 31, 2024[40]. - The group's capital structure includes equity attributable to owners of approximately HKD 230,000,000, with no significant changes during the period[42]. - The group has pledged leasehold land and buildings valued at HKD 118,397,000 and investment properties valued at HKD 7,036,000 as collateral for bank borrowings[45]. - The company’s issued and paid-up share capital remained at HKD 10,000,000 as of both September 30, 2024, and March 31, 2024[156]. Corporate Governance and Management - The company has complied with all corporate governance codes as per the listing rules during the period[50]. - The directors and senior management hold a total of 730,000,000 shares, representing approximately 73% of the issued share capital of the company[56]. - The company has not declared or proposed any dividends for the periods ended September 30, 2024, and September 30, 2023[134]. - The company’s management compensation is determined by the board based on individual performance and market trends[160]. Market and Strategic Initiatives - The company plans to enhance its positioning in the logistics sector by providing customized fleet card solutions to manage costs[15]. - The company is actively exploring overseas markets, particularly in Southeast Asia and other emerging regions, to diversify revenue sources[16]. - The company is promoting ultra-low sulfur diesel and exploring emission reduction technologies in response to the growing demand for cleaner fuels[15]. - The company continues to focus on expanding its diesel sales and fleet card services as key growth areas[106].
域高国际控股(01621) - 2025 - 中期财报