Revenue and Profitability - For the six months ended September 30, 2024, the group's revenue from the procurement and sale of cassava chips was approximately HKD 438.7 million, a decrease of about 47.8% compared to HKD 840.9 million in the same period last year[11]. - Revenue for the six months ended September 30, 2024, was HKD 449,210,000, a decrease of 47.5% compared to HKD 856,279,000 in the same period of 2023[46]. - Gross profit for the same period was HKD 34,046,000, down 57.9% from HKD 80,880,000 year-on-year[46]. - The group reported a loss of approximately HKD 9 million for the period, compared to a profit of approximately HKD 16.4 million in the previous year[15]. - The net loss attributable to the owners of the company was HKD 9,038,000, compared to a profit of HKD 16,406,000 in the same period last year[46]. - The company reported a loss before tax of HKD 17,971,000, compared to a profit of HKD 12,957,000 in the previous year[46]. - Total comprehensive loss amounted to HKD 20,523,000, a significant decline from a total comprehensive income of HKD 1,010,000 in the previous year[49]. Costs and Expenses - The cost of sales for cassava chips during this period was approximately HKD 414 million, down about 46.5% from HKD 774 million in the previous year, primarily due to reduced sales volume[12]. - Administrative expenses for the period were approximately HKD 25.8 million, slightly up from HKD 25.4 million in the same period last year[14]. - Financing costs for the period were approximately HKD 15.1 million, compared to HKD 15.2 million in the previous year[15]. - The company incurred a fair value loss on investment properties of HKD 5,780,000, an improvement from HKD 10,218,000 in the prior year[46]. - Administrative expenses increased slightly to HKD 25,809,000 from HKD 25,355,000 year-on-year[46]. Assets and Liabilities - As of September 30, 2024, the net asset value decreased to approximately HKD 463,400,000 from HKD 484,000,000 as of March 31, 2024, primarily due to other comprehensive losses during the period[17]. - Current assets as of September 30, 2024, were approximately HKD 236,000,000, including cash and cash equivalents of HKD 116,300,000, accounts receivable of HKD 15,600,000, and inventory of HKD 26,200,000[17]. - The current liabilities as of September 30, 2024, were approximately HKD 117,100,000, which included accounts payable and accrued expenses of HKD 12,000,000 and tax payable of HKD 97,100,000[17]. - The company's total liabilities decreased slightly to HKD 693,795,000 from HKD 698,156,000, showing a reduction of about 0.6%[54]. - The company's total assets were valued at HKD 598,240,000 as of September 30, 2024, compared to HKD 751,679,000 in the previous year, indicating a reduction in asset base[63]. Cash Flow - The net cash inflow from operating activities for the six months ended September 30, 2024, was HKD 226,821,000, a decrease from HKD 372,030,000 in the same period of 2023, representing a decline of approximately 39%[67]. - The net cash outflow from investing activities for the six months ended September 30, 2024, was HKD (3,500,000), compared to HKD (1,920,000) in 2023, indicating an increase in investment spending[67]. - The net cash outflow from financing activities for the six months ended September 30, 2024, was HKD (156,145,000), significantly reduced from HKD (541,266,000) in the previous year, showing improved cash management[67]. - The total cash and cash equivalents at the end of the period increased to HKD 116,272,000 from HKD 92,676,000 in 2023, reflecting a positive cash position[67]. Market and Strategic Initiatives - The decline in revenue was attributed to decreased sales volume and average selling prices of cassava chips due to a sluggish export market in mainland China[11]. - The group continues to explore opportunities for market expansion and new strategies in response to the challenging economic environment[8]. - The company plans to establish a joint venture in Laos for the production and sale of tapioca starch, aiming to diversify its market presence and reduce reliance on the Chinese market[22]. - The company has a storage capacity of approximately 600,000 tons for dried cassava chips, enhancing its market coverage and supporting business growth[22]. Employee and Operational Metrics - The total employee count as of September 30, 2024, was approximately 240, with total employee costs amounting to HKD 12,600,000 during the period[19]. - The hotel and serviced apartment business maintained stable room revenue, with food and beverage services contracted out to generate fixed income[8]. - The company continues to monitor the performance of its operating segments separately for resource allocation and performance evaluation purposes[75].
木薯资源(00841) - 2025 - 中期财报