Financial Performance - For the twelve months ended September 30, 2024, the garments division reported segment revenue of $161,679,000, a decrease of 9.6% from $178,872,000 for the same period in 2023[7]. - The garments division achieved a reportable segment profit of $24,414,000, an increase of 4.1% compared to $23,459,000 in the previous year[7]. - The total comprehensive income for the period was $4,094,000, a significant improvement from a loss of $8,892,000 in the same period last year[24]. - The company reported a loss for the period of $(2,614,000), which is an improvement from a loss of $(7,934,000) in the previous year[24]. - Revenue for the six months ended September 30, 2024, was HK$88,524,000, a decrease of 16.9% from HK$106,574,000 in the same period of 2023[44]. - Gross profit for the period was HK$54,580,000, down from HK$76,513,000, reflecting a gross margin decline[44]. - Loss from operations was HK$1,204,000, an improvement compared to a loss of HK$5,838,000 in the previous year[44]. - Loss before taxation decreased to HK$2,534,000 from HK$7,572,000, indicating a reduction in overall losses[44]. - The Group reported a consolidated loss before taxation of HK$2,534,000 for the six months ended September 30, 2024, compared to a loss of HK$7,572,000 in the same period of 2023, indicating an improvement in performance[84]. - Basic loss per share for the period is $0.0126, based on a loss attributable to ordinary equity shareholders of $2,086,000, compared to a loss of $7,431,000 in 2023, with 165,864,000 ordinary shares in issue[101]. Cash Flow and Liquidity - Net cash generated from operating activities was HK$12,214,000, slightly down from HK$12,292,000 in the prior period[30]. - Net cash generated from investing activities was HK$3,488,000, a significant improvement from a cash outflow of HK$275,000 in the previous year[30]. - Cash and cash equivalents at the end of the period were HK$101,985,000, down from HK$108,832,000 at the end of the previous period[30]. - The company experienced a net decrease in cash and cash equivalents of HK$2,408,000, compared to a decrease of HK$7,494,000 in the prior period[30]. - Cash and cash equivalents totaled $101,985,000 as of September 30, 2024, slightly down from $103,397,000 on March 31, 2024[129]. - The Group's cash position reflects a stable liquidity situation despite minor fluctuations in cash and cash equivalents[129]. Assets and Liabilities - Non-current assets, including investment properties, totaled $199,172,000, an increase from $189,023,000 as of March 31, 2024[26]. - Current liabilities decreased slightly to $81,511,000 from $80,809,000 in the previous period[26]. - Total equity attributable to equity shareholders was $440,244,000, down from $452,208,000 as of March 31, 2024[26]. - Reportable segment assets as of September 30, 2024, totaled $833,933,000, a decrease from $858,559,000 as of March 31, 2024, representing a decline of approximately 2.9%[58]. - The reportable segment liabilities as of September 30, 2024, were $474,493,000, down from $505,676,000 as of March 31, 2024, indicating a reduction of approximately 6.2%[58]. - Trade receivables, net of loss allowance, totaled $22,035,000 as of September 30, 2024, compared to $14,334,000 as of March 31, 2024[107]. Dividends - The company declared a final dividend of 10 cents per ordinary share, amounting to $16,586,000, which was approved on September 27, 2024, and paid on October 23, 2024[70]. - The company did not declare or pay an interim dividend for the six-month period ended September 30, 2024, consistent with the previous year[70]. - The Group has resolved not to declare an interim dividend for the period ended September 30, 2024 (2023: Nil)[148]. Operational Insights - The average sales performance in the second half of the year was better than the first half, driven by increased product demand during the holiday season[15]. - The Group's garment sales division typically experiences higher sales in the second half of the year due to increased demand during the holiday season[87]. - The Group's strategic focus remains on expanding market presence and enhancing global partnerships to drive further success[148]. - The Group has implemented strategic adjustments to discount and promotion policies and optimized its product mix in response to evolving market conditions[171][195]. Taxation - The corporate income tax rate applicable to the Group's operations in Mainland China remains at 25% for the period[16]. - The corporate tax rate applicable to the Group's operations in Hong Kong remains at 16.5%, consistent with the previous year[91]. Inventory and Impairment - Inventory write-down during the period amounted to $1,811,000, compared to a reversal net of write-down of $1,365,000 in 2023, due to a decrease in estimated realizable value of certain garments[106]. - The inventory write-down was primarily due to changes in customer preferences affecting garment values[127]. Employee and Management - The Group employs approximately 200 staff and provides competitive remuneration, including medical benefits and retirement plan contributions[160]. - Key management personnel's emoluments for the period were $2,216,000, down from $2,555,000 in 2023[114]. - The Group had approximately 200 employees as of September 30, 2024, offering competitive remuneration packages and discretionary bonuses based on performance[179].
YGM TRADING(00375) - 2025 - 中期财报