Financial Performance - The group's revenue for the six months ended September 30, 2024, was approximately HKD 98.5 million, a decrease of about 23.6% compared to HKD 129.0 million for the same period in 2023[13]. - Gross profit decreased from approximately HKD 31.8 million to about HKD 18.5 million, representing a decline of approximately 41.8%[16]. - Overall gross margin fell from approximately 24.7% to about 18.8% due to increased discounts offered to customers amid intense market competition[16]. - Profit attributable to the company's owners for the period was approximately HKD 0.7 million, a significant decrease of about 93.5% from HKD 10.8 million in the same period last year[23]. - Revenue for the six months ended September 30, 2024, was HKD 98,542,000, a decrease of 23.5% compared to HKD 129,004,000 for the same period in 2023[63]. - Gross profit for the same period was HKD 18,478,000, down 42.5% from HKD 31,873,000 year-over-year[63]. - Profit before tax decreased significantly to HKD 827,000, compared to HKD 13,041,000 in the previous year, representing a decline of 93.7%[63]. - Net profit for the period was HKD 691,000, a decrease of 93.6% from HKD 10,841,000 in the prior year[63]. - Basic and diluted earnings per share dropped to HKD 0.17 from HKD 2.71, reflecting a decline of 93.7%[63]. - Operating cash flow for the six months was HKD 378,000, a significant decrease from HKD 37,976,000 in the same period last year[69]. Expenses and Liabilities - Selling and distribution expenses increased to approximately HKD 12.4 million, up about 2.5% from HKD 12.1 million in the same period last year[18]. - Administrative expenses decreased to approximately HKD 6.4 million from HKD 8.1 million in the same period last year, primarily due to reduced employee costs[19]. - Current liabilities increased to HKD 120,098,000 from HKD 119,527,000, showing a slight rise of 0.5%[65]. - The group incurred capital expenditures of approximately HKD 433,000 for property, plant, and equipment during the six months ended September 30, 2024[101]. Assets and Inventory - Total assets decreased to HKD 105,230,000 from HKD 124,539,000, indicating a decline of 15.5%[65]. - Total inventory as of September 30, 2024, was approximately HKD 45.2 million, a slight decrease from HKD 45.8 million as of March 31, 2024[24]. - The cost of inventory recognized as an expense for the six months ended September 30, 2024, was HKD 80,064,000, a decrease of 17.6% from HKD 97,131,000 in 2023[91]. Shareholder Information - The issued share capital was HKD 4,000,000, with a total of 400,000,000 shares outstanding[30]. - The largest shareholder, Mr. Siu Muk Lung, holds 70.26% of the shares, amounting to 281,070,000 shares[43]. - As of September 30, 2024, Ms. Li Zhenyu holds 281,070,000 shares, representing 70.26% of the company's ordinary shares[47]. - The total number of shares that can be issued under the share option plan is capped at 40,000,000 shares, which is 10% of the total shares issued as of the listing date[50]. - The company declared a special dividend of HKD 0.05 per ordinary share on September 20, 2024, compared to HKD 0.15 per ordinary share for the six months ended September 30, 2023[53]. - No interim dividend was recommended for the period ending September 30, 2023[54]. - The company has maintained a public float of at least 25% of its total issued shares during the reporting period[56]. - There were no share options granted, exercised, cancelled, or lapsed under the share option plan from the adoption date until the report date[51]. Corporate Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2024[60]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[52]. - There were no significant events after the reporting period that would have a material impact on the group's operations and financial performance[59]. - The company has complied with the corporate governance code during the reporting period[55]. Other Income and Receivables - Other income for the period was approximately HKD 1.3 million, down about 18.8% from HKD 1.6 million in the same period last year[17]. - Accounts receivable as of September 30, 2024, was HKD 1,876,000, a decrease from HKD 1,966,000 as of March 31, 2024[102]. - The group reported a total of HKD 11,067,000 in deposits, prepayments, and other receivables as of September 30, 2024, compared to HKD 6,669,000 as of March 31, 2024[106]. - Accounts payable as of September 30, 2024, was HKD 337,000, down from HKD 441,000 as of March 31, 2024[107]. Employee Information - The total number of employees decreased from 47 to 44, with total compensation for the period amounting to approximately HKD 8.0 million, down from HKD 8.6 million[33]. - Total remuneration for key management personnel for the six months ended September 30, 2024, was HKD 2,430,000, down from HKD 3,210,000 for the same period in 2023[114]. - Rental expenses paid to related parties amounted to HKD 500,000 for the six months ended September 30, 2024, compared to HKD 496,000 in the previous year[114].
港亚控股(01723) - 2025 - 中期财报