Financial Performance - The group recorded revenue of HKD 1,270,635,000 for the six months ended October 31, 2024, a decrease of 3.9% compared to HKD 1,322,485,000 in the same period of 2023/24[5]. - Profit attributable to equity holders decreased by 35.1% to HKD 32,959,000 from HKD 50,764,000 in the previous year[5]. - Retail sales revenue, including consignment commission income, reached HKD 1,257,698,000, accounting for 99.0% of total revenue, down from HKD 1,318,523,000 in the previous year[29]. - Revenue from Hong Kong was HKD 1,099,958,000, a decline of 4.1% from HKD 1,147,066,000 in the previous year, representing 86.6% of total revenue[30]. - Revenue in Singapore decreased by 3.7% to HKD 147,986,000 from HKD 153,598,000 in the previous year[14]. - Revenue from Macau increased by approximately 4% to HKD 22,691,000, compared to HKD 21,821,000 in the previous year[34]. - Operating profit for the period was HKD 46,858 thousand, with a pre-tax profit of HKD 37,364 thousand after financial costs of HKD 12,591 thousand[56]. - Net profit for the period was HKD 30,016 thousand, representing a decline of 38.6% from HKD 48,920 thousand in the same period last year[68]. - Total comprehensive income for the period was HKD 30,869 thousand, down 33.3% from HKD 46,253 thousand in the prior year[68]. - Basic earnings per share decreased to HKD 4.58 from HKD 7.06, reflecting a drop of 35.1%[68]. Liquidity and Assets - The group maintained a strong liquidity position with cash and cash equivalents amounting to HKD 308,072,000 as of October 31, 2024, down from HKD 318,775,000 a year earlier[6]. - The total assets as of October 31, 2024, were HKD 1,669,489,000, down from HKD 1,742,182,000 as of April 30, 2024[43]. - Total liabilities decreased to HKD 784,128 thousand as of October 31, 2024, from HKD 848,474 thousand as of April 30, 2024, a reduction of 7.6%[70]. - Total equity as of October 31, 2024, was HKD 885,361 thousand, down from HKD 893,708 thousand as of April 30, 2024, a decrease of 0.9%[70]. - The average trade receivables for the period were HKD 178,331,000, compared to HKD 179,443,000 in the previous period[92]. Cost Management - Total employee costs decreased by 8.1% to HKD 216,886,000 from HKD 199,383,000 in the previous year[7]. - The group is implementing strict cost control measures, including budget management and workforce optimization, to address rising operational costs[12]. - The company is focusing on strict budget management and cost control measures to address high operational costs[39]. - The group is committed to improving service quality and enhancing the shopping experience for customers through flexible frontline sales personnel[63]. Strategic Initiatives - The group plans to enhance its private label product offerings to improve gross margins and meet customer demand[20]. - The company plans to enhance its online and offline marketing strategies, including a one-hour "click and collect" service for online orders[37]. - The group aims to increase its J-Fun registered members to 1 million by 2025, with 300,000 expected to upgrade to gold members, enhancing customer loyalty and retail revenue[63]. - The group plans to adjust its product mix by introducing more fast-moving consumer goods to enhance shopping convenience and competitiveness[62]. - The company is actively expanding supplier partnerships in favorable exchange rate regions to procure high-quality products at competitive prices[64]. - The group is restructuring its logistics and distribution centers to serve as a core hub for global procurement, enhancing delivery efficiency for future growth[64]. Market Outlook - The company remains cautiously optimistic about medium to long-term prospects, focusing on markets in Hong Kong, Singapore, and Macau[29]. - The retail market in Hong Kong is undergoing transformation, with a shift in consumer behavior due to the pandemic, necessitating agile responses to market trends[62]. - The company is focusing on optimizing operations and improving productivity to enhance efficiency and profitability while maintaining market share in Singapore[60]. Governance - The executive directors include Ms. Wei Lixia, Mr. Liu Baihui, and Mr. Zheng Shengxu[129]. - The independent non-executive directors are Mr. Meng Yongming, Mr. Wu Shiyuan, and Mr. Yang Yaoqiang[129].
国际家居零售(01373) - 2025 - 中期业绩