Financial Performance - The company's revenue for the six months ended September 30, 2024, was HKD 337,849 million, a slight decrease of 0.05% compared to HKD 338,010 million in the same period last year[3]. - Net profit attributable to shareholders increased by 17% to HKD 35,816 million from HKD 30,715 million year-on-year[3]. - Basic and diluted earnings per share rose to 4.79 HKD cents, up 17% from 4.11 HKD cents in the previous year[3]. - Gross profit for the period was HKD 109,639 million, down from HKD 111,737 million, reflecting a decrease in gross margin[3]. - The company reported a pre-tax profit of HKD 57,533 million, up from HKD 47,387 million, indicating strong operational performance[3]. - The total comprehensive income for the period was HKD 43,575 million, significantly higher than HKD 21,596 million in the same period last year[27]. - Operating profit for the company was HKD 53,323,000, with a significant contribution from the watch sales segment, which generated an operating profit of HKD 50,406,000[44]. - Operating profit for the period was HKD 52,225,000, a decrease from HKD 49,378,000 in the previous year, reflecting a decline in profitability[70]. - Net profit for the period was HKD 36 million, an increase from HKD 31 million in the same period last year[95]. Assets and Liabilities - Total assets decreased by 5% to HKD 737 million from HKD 773 million as of March 31, 2024[3]. - Total assets as of September 30, 2024, amounted to HKD 503,638,000, an increase from HKD 496,162,000 as of the same date in 2023, reflecting a growth of 1.0%[28]. - The company’s total liabilities as of September 30, 2024, were HKD 328,088,000, reflecting a stable financial position[50]. - The company’s total liabilities were reported at HKD 274,488,000, with a significant portion attributed to tax liabilities of HKD 14,678,000[68]. - The total liabilities as of September 30, 2024, were HKD 82,134,000, with current liabilities accounting for HKD 79,390,000[106]. Cash Flow and Financial Costs - The company reported a net cash generated from operating activities of HKD 43,780,000 for the six months ended September 30, 2024, compared to HKD 29,407,000 for the same period in 2023, representing a 48.8% increase[32]. - The company reported a net decrease in cash and cash equivalents of HKD 41,089,000, ending the period with HKD 126,415,000 in cash[32]. - The company’s financial costs amounted to HKD 4,646,000, which includes interest expenses related to bank loans[44]. - For the six months ended September 30, 2024, the company reported total interest expenses on bank loans of HKD 3,616,000, an increase of 7.5% from HKD 3,363,000 in the same period of 2023[54]. - The company’s financial costs totaled HKD 4,139,000, which was consistent with the previous year's costs of HKD 4,589,000[70]. Dividends and Shareholder Equity - The company paid dividends totaling HKD 26,000,000 during the period, down from HKD 35,040,000 in the previous year[32]. - The interim dividend per share was HKD 0.0348, down from HKD 0.0469 in the previous year, totaling HKD 26 million[79]. - Equity attributable to shareholders increased by 4% to HKD 462 million from HKD 445 million[3]. - The company’s equity disclosure shows that Ms. Lam holds 443,034,400 shares, representing 59.29% of the total issued share capital[123]. Operational Insights - The company continues to face various financial risks, including market risk, credit risk, and liquidity risk[17]. - The company has not reported any single external customer contributing 10% or more to total revenue during the reporting period, indicating a diversified customer base[52]. - The company operates 5 stores in China, focusing on core stores and streamlining operational costs to enhance cost efficiency[131]. - Future business prospects in China depend on the recovery of the economy amid current challenges[131]. - The company is enhancing its financial strength and is confident in improving business performance while adopting a prudent approach to future expansions[131]. Foreign Exchange and Employee Costs - The company experienced a foreign exchange loss of HKD 4,939,000 compared to a gain of HKD 2,689,000 in the previous year, indicating a significant negative shift in currency impacts[54]. - Employee costs, including directors' fees and remuneration, rose to HKD 26,423,000, up 9.5% from HKD 24,124,000 year-on-year[54]. Capital Expenditures and Investments - The company’s non-current assets increased by HKD 28,949,000 during the reporting period, indicating ongoing investment in long-term assets[50]. - As of September 30, 2024, contracted but unrecognized significant capital expenditures amounted to HKD 4,759,000 for property construction[128]. - The company’s investment properties were valued at HKD 327,784,000 as of September 30, 2024, an increase from HKD 316,497,000 as of March 31, 2024[126]. Administrative and Other Expenses - The administrative expenses for the period were HKD 11,000,000, a decrease of 39% compared to HKD 18,000,000 in the same period last year, primarily due to the impact of GBP appreciation on investment properties in the UK[116]. - Distribution costs increased by 4% year-on-year to HKD 48 million, up from HKD 46 million[129].
ASIA COMM HOLD(00104) - 2025 - 中期财报