Financial Performance - The company reported a revenue of HKD 6,002,000 for the six months ended September 30, 2024, a decrease of 39.5% compared to HKD 9,954,000 for the same period in 2023[47]. - The gross profit for the period was HKD 3,265,000, resulting in a gross margin of approximately 54.3%[47]. - The company incurred a loss before tax of HKD 16,119,000, compared to a loss of HKD 10,484,000 in the previous year, representing a year-over-year increase in loss of 54.3%[47]. - The net loss attributable to owners of the company was HKD 11,217,000, compared to HKD 7,623,000 in the same period last year, indicating a 47.5% increase in net loss[47]. - Total comprehensive expenses for the period amounted to HKD 13,517,000, compared to HKD 7,643,000 in the prior year, reflecting an increase of 77.1%[48]. - The total comprehensive income for the six months ended September 30, 2024, was a loss of HKD 13,517 thousand, compared to a loss of HKD 7,643 thousand for the same period in 2023, indicating a worsening of approximately 76.5%[71]. - The company reported a basic and diluted loss per share of HKD (0.44) for the period, compared to HKD (0.21) in the previous year[47]. - The group’s operating loss for the six months ended September 30, 2024, was HKD 2,737,000, a decrease from HKD 3,760,000 in the same period last year[108]. - The group recorded a loss attributable to shareholders of approximately HKD 11.21 million, compared to HKD 7.62 million in the same period last year, indicating an increase in losses due to a contraction in environmental consulting services and rising administrative costs[156]. Assets and Liabilities - As of September 30, 2024, the group's current assets and current liabilities were approximately HKD 667.81 million and HKD 1,118.46 million, respectively[16]. - The company’s total assets less current liabilities stood at HKD (420,327,000) as of September 30, 2024, compared to HKD (406,810,000) as of March 31, 2024[44]. - As of September 30, 2024, the company's total capital deficit amounted to HKD 420,327 thousand, an increase from HKD 406,810 thousand as of March 31, 2024[73]. - The total borrowings as of September 30, 2024, were HKD 587,781,000, slightly up from HKD 584,634,000 as of March 31, 2024[117]. - The debt-to-asset ratio was approximately 160%, slightly up from about 159% as of March 31, 2024[162]. - The group’s accounts payable as of September 30, 2024, were HKD 166,714,000, compared to HKD 165,827,000 in the previous period[115]. - The group’s net current assets as of September 30, 2024, were significantly impacted by accounts receivable, leading to cash flow constraints[131]. Operational Highlights - The group is focusing on expanding its health product sales segment by integrating product acquisition channels and supply chains to introduce more attractive and advanced health products to the Chinese market[8]. - The group aims to recover accounts receivable and explore new business growth points to significantly improve operational conditions in the next financial year[14]. - The group plans to seek stable revenue-generating business opportunities to enhance overall financial performance and create value for shareholders amid global political and economic instability[15]. - The environmental consulting services segment faced challenges due to rising borrowing costs and inflation, leading to fewer new project participations during the reporting period[8]. - The environmental consulting services industry is expected to develop towards specialization and digital transformation, driven by technological advancements[5]. - The overall economic situation remains uncertain, affecting the willingness of project owners to invest in environmental protection and restoration projects[126]. - The group has taken legal measures to recover outstanding receivables, primarily from downstream customers in the book publishing and distribution sector[131]. - The group plans to launch new health products, including Japanese natto enzyme dietary supplements, to expand its product portfolio and attract domestic demand[134]. - The group will continue to assess industry prospects cautiously while maintaining stable operations amid ongoing economic challenges[132]. Employee and Administrative Costs - The group's administrative expenses increased by approximately 10.79% year-on-year to about HKD 9.86 million for the six months ended September 30, 2023[11]. - The group’s employee costs, including director remuneration, decreased to HKD 3,512,000 from HKD 7,191,000 year-on-year[108]. - The group’s fixed interest rate on borrowings remained stable at 12% as of September 30, 2024[97]. - The group’s operating expenses remained relatively stable, with financial costs recorded at approximately HKD 9.53 million, compared to HKD 9.71 million in the same period last year[129]. Market and Industry Outlook - The demand for healthcare products remains strong, with significant growth potential in imported health products as consumer spending levels rise in China[124]. - The environmental consulting services industry is expected to see significant growth due to increasing environmental awareness and stricter policies, providing a broader market space[101]. - The group continues to operate in the environmental consulting, healthcare products, and publishing sectors, focusing on market expansion in China[78]. - The group plans to continue expanding its service offerings and customer base to meet the demands of various industries[158]. Miscellaneous - The group has no significant contingent liabilities as of September 30, 2024[18]. - The group has not redeemed any of its listed securities during the reporting period[38]. - The company did not acquire or dispose of any properties, plants, or equipment during the six months ended September 30, 2024, maintaining a consistent investment level of HKD 0 thousand[94]. - The company has not recognized any significant deferred tax assets or liabilities as of September 30, 2024, consistent with the previous year[91]. - The company has not provided specific guidance for future performance or new product developments in the current report[67]. - The company operates under the GEM listing, which may expose it to higher market volatility risks compared to main board listings[68]. - The group had 72 full-time employees, with various training programs provided to help employees keep pace with industry trends[165]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[171].
大地国际集团(08130) - 2025 - 中期财报