Financial Performance - The Group's loss before tax for the six months ended September 30, 2024, was HK$6,181,000, compared to a loss of HK$7,160,000 for the same period in 2023[15]. - The total tax charge for the period was HK$574,000, compared to a tax credit of HK$394,000 in the previous year[10]. - The Group recorded a loss attributable to equity holders of HK$6,181,000, a decrease of HK$979,000 from HK$7,160,000 in the previous year, mainly due to an increase in fair value gain from financial assets[84]. - The loss for the period attributable to equity holders of the Company was HK$6,181,000, compared to HK$7,160,000 in the previous year, representing a decrease of approximately 13.7%[198]. - Basic and diluted loss per share was HK$2.38, an improvement from HK$2.76 in the same period last year[198]. - The Group's unallocated losses amounted to HK$4,668,000, contributing to a loss before tax of HK$7,418,000 for the reporting period[37]. - Gross profit for the period was HK$15,278,000, down from HK$22,931,000, reflecting a decline of approximately 33.5%[198]. - The Group's financial results suggest a strategic focus on cost management and operational efficiency, contributing to reduced losses[200]. Revenue and Segments - Revenue from external customers for the trading segment was HK$81,726,000, while catering segment revenue was HK$27,310,000, contributing to a total revenue of HK$110,582,000 for the six months ended September 30, 2023[37]. - For the six months ended 30 September 2024, the Group's consolidated revenue was HK$99,481,000, representing a decrease of 10.0% compared to HK$110,582,000 for the same period in 2023[83]. - Revenue from the frozen meats trading business was HK$81,777,000, slightly up from HK$81,726,000 in the corresponding period last year[85]. - The catering business revenue was HK$15,977,000, representing a significant drop of HK$11,333,000, or 41.5%, compared to the previous year[105]. - The communication and advertising design segment reported revenue of HK$1,727,000, an increase of 11.7% from HK$1,546,000 in the previous period, but profit decreased to approximately HK$652,000 from HK$901,000[123]. Assets and Liabilities - Total assets as of September 30, 2024, amounted to HK$592,507,000, while total liabilities were HK$49,240,000[2]. - As of September 30, 2024, trade payables amounted to HK$9,110,000, a decrease from HK$10,626,000 as of March 31, 2024, representing a reduction of approximately 14.2%[31]. - The Group's trade receivables as of September 30, 2024, totaled HK$19,938,000, an increase from HK$18,671,000 as of March 31, 2024[28]. - The ageing analysis of trade receivables showed that HK$12,488,000 was within 1 month, compared to HK$10,494,000 as of March 31, 2024[28]. - Total segment assets as of March 31, 2024, amounted to HK$611,440,000, with segment liabilities totaling HK$60,014,000[96]. Cost Management - The cost of inventories sold decreased to HK$84,203,000 in 2024 from HK$87,651,000 in 2023, representing a reduction of approximately 5.6%[7]. - The Group faced increased business costs due to severe price competition, rising storage expenses, and higher finance costs and interest rates[86]. - Cost control measures and flexible sales strategies are being implemented to enhance business efficiency and gross profit margin[125]. - The Group emphasizes cost control and proactive strategies to respond to macroeconomic challenges such as global economic slowdown and rising costs[132]. Corporate Governance - The Company is committed to good corporate governance, emphasizing transparency, accountability, and independence to all shareholders[176]. - The Company has complied with the Corporate Governance Code as set out in Appendix C1 of the Listing Rules during the review period[176]. - The Company periodically reviews its corporate governance practices in line with the latest developments[176]. Shareholder Information - The number of ordinary shares in issue during the period remained unchanged at 259,586,000[15]. - Stephen Tai Tak Fung holds a total of 90,739,177 shares, representing approximately 34.95% of the company's total issued shares[140]. - Careful Guide Limited (CGL), wholly owned by Stephen Tai, holds 30,914,000 shares, approximately 11.91% of the total issued shares[145]. - Special Access Limited (SAL), also wholly owned by Stephen Tai and his spouse, holds 52,907,250 shares, approximately 20.38% of the total issued shares[146]. - As of September 30, 2024, no other directors or executives had interests in the shares of the company or its associated corporations[148]. Future Outlook - The Group aims to explore new business opportunities in the Greater China market while maintaining existing local customer relationships[102]. - The Group is focusing on strategic resource reallocation and shop integration to improve operational efficiency amid a challenging market environment[125]. - Future outlook may involve continued emphasis on enhancing operational performance and exploring new market opportunities to drive growth[200].
香港食品投资(00060) - 2025 - 中期财报