Revenue and Profitability - Revenue for the six months ended September 30, 2024, was HKD 98,072,000, a decrease of 10% compared to HKD 108,960,000 for the same period in 2023[12] - For the six months ended September 30, 2024, the total revenue from external customers was HKD 98,702,000, with bar and restaurant operations contributing HKD 97,785,000 and property investment contributing HKD 287,000[61] - Revenue from external customers for the six months ended September 30, 2024, was HKD 108,960,000, a decrease of 8.8% compared to HKD 119,220,000 for the same period in 2023[69] - Revenue from bar and restaurant operations was HKD 108,564,000 for the six months ended September 30, 2024, down from HKD 106,308,000 in the previous period, reflecting a decline of 2.1%[91] - The group reported a loss before tax of HKD 2,386,000, compared to a profit of HKD 1,733,000 in the previous year[12] - The net loss for the period was HKD 2,143,000, compared to a profit of HKD 1,637,000 for the same period last year[12] - Basic and diluted loss per share was HKD 0.25, compared to earnings of HKD 0.14 per share in the prior year[12] - The group reported a cumulative loss of HKD 42,509,000 as of September 30, 2024[61] Costs and Expenses - The cost of goods sold was HKD 24,953,000, down from HKD 29,837,000, reflecting a 16% reduction[12] - Total employee costs decreased to HKD 32,415,000 from HKD 35,237,000, representing a reduction of approximately 8%[105] - Other operating expenses decreased by 2.4% to HKD 13.8 million from HKD 14.1 million in the previous period, attributed to a reduction in variable costs directly related to the decline in sales revenue[147] - Financing costs increased to HKD 2,563,000 from HKD 2,460,000, reflecting a 4% rise[12] - The gross profit from restaurant and bar operations for the period was HKD 72.8 million, a decrease of 7.5% compared to HKD 78.7 million in the previous period, with a stable gross margin of 74.5%[165] Assets and Liabilities - The group’s current liabilities exceeded current assets by HKD 95,808,000 as of September 30, 2024[25] - Total liabilities increased to HKD 163,705,000, up 6.5% from HKD 154,476,000[28] - As of September 30, 2024, total assets amounted to HKD 191,698,000, an increase of 4.7% from HKD 183,838,000 as of March 31, 2024[28] - Non-current assets totaled HKD 171,787,000, reflecting a growth of 2.0% from HKD 167,439,000[28] - Current assets increased to HKD 19,911,000, up 21.0% from HKD 16,399,000[28] - Cash and cash equivalents rose to HKD 3,463,000, a significant increase of 64.4% compared to HKD 2,107,000[28] - The company reported a net asset value of HKD 27,993,000, down 4.6% from HKD 29,362,000[28] Financial Position and Going Concern - The group violated bank loan covenants amounting to HKD 41,583,000 as of September 30, 2024, raising significant doubt about its ability to continue as a going concern[25] - The group has a bank loan of HKD 41,583,000, with management expecting to maintain the same level of bank financing[58] - The group’s tangible net worth decreased to below HKD 30,000,000, resulting in a breach of covenant, which has been communicated with the bank[133] - The group plans to apply for additional loans under the SME Financing Guarantee Scheme provided by the Hong Kong government[78] Operational Developments - The company has initiated new product and technology development, although specific details were not disclosed in the provided content[43] - The group plans to continue expanding its bar and restaurant operations in Hong Kong and mainland China[52] - The company opened two new bars under the "Pacific Bar" brand in Huizhou and Guangzhou, targeting different customer segments[164] - The group operates 56 bars/restaurants under various brands in Hong Kong and mainland China as of September 30, 2024[143] - The group operates 56 bars and restaurants under four different brands, targeting the mass market to increase market share in Hong Kong[194] Government Support and Grants - The group received government subsidies of HKD 204,000 under the "Hong Kong Nightlife" local citizen program, down from HKD 281,000 in the previous year[93] - Government grants received amounted to HKD 204,000, down from HKD 281,000, a decrease of about 27.5%[115] Shareholder Information - The company did not declare or propose any dividends during the interim period[98] - The board has resolved not to declare a dividend for the period, consistent with the previous period[150] - The company has issued 19,264,000 unvested shares as of September 30, 2024, representing 2.24% of the total issued shares, down from 3.36% as of March 31, 2024[159] - As of September 30, 2024, the total number of unvested share awards under the share plan was 57,104,000[199] - The group adopted a new share plan on September 29, 2023, allowing for share awards to be granted to directors and employees[194] Training and Development - The group provided regular internal training to employees to enhance their knowledge and skills[189]
太平洋酒吧(08432) - 2025 - 中期财报