Financial Performance - As of September 30, 2024, the company reported a net loss of HKD 18,686,000 for the period[10]. - The company reported a comprehensive loss of HKD 17,015,000 for the period[10]. - For the six months ended September 30, 2024, the company reported a loss of HKD 16,813,000 compared to a loss of HKD 18,969,000 for the same period in 2023[54]. - The group reported a loss attributable to the company of approximately HKD 16,813,000 for the six months ended September 30, 2024[161]. - The group reported a loss before tax of HKD 18,686,000 for the period, compared to a loss of HKD 18,471,000 in the previous year[178]. - The total comprehensive loss for the period amounted to HKD 17,013,000, down from HKD 27,038,000 in the previous year[178]. - The company recorded a loss before tax of HKD 16,471 thousand, an improvement from a loss of HKD 18,686 thousand in the previous year, reflecting a reduction in losses of approximately 11.7%[152]. - The company reported a basic and diluted loss per share of HKD (6.29), an improvement from HKD (7.09) in the previous year, reflecting a decrease in loss per share of approximately 11.3%[152]. Revenue and Profitability - Reported segment revenue from external customers was HKD 43,125,000 for the period[19]. - Revenue from external customers in China for the six months ended September 30, 2024, was HKD 43,125,000, a significant decrease from HKD 152,384,000 in the same period of 2023[47]. - For the six months ended September 30, 2024, the group recorded total revenue of approximately HKD 43,125,000, a decrease of about 71.7% compared to HKD 152,384,000 for the same period last year[86]. - The gross profit for the six months ended September 30, 2024, was approximately HKD 765,000, with a gross margin of about 1.8%, compared to HKD 1,058,000 and 0.7% for the same period last year[86]. - The group's general trading business revenue decreased from approximately HKD 120,248,000 to HKD 21,915,000, primarily due to a decline in demand for chemical products from Chinese customers[86]. - The sales and integrated services business revenue fell from approximately HKD 32,136,000 to HKD 21,210,000, mainly due to the termination of customer spending on integrated systems[86]. - Administrative expenses decreased by approximately 46.3% to about HKD 3,795,000 from HKD 7,068,000 in the previous year[88]. Liabilities and Financial Position - Total liabilities amounted to HKD 290,584,000 as of September 30, 2024[23]. - The company’s total equity attributable to owners showed a capital deficit of HKD 273,724,000 as of September 30, 2024[9]. - The group has significant liabilities, with total liabilities amounting to HKD 272,356,000 as of September 30, 2024[170]. - As of September 30, 2024, the total debt of the group is approximately HKD 233,136,000, with convertible bonds accounting for about HKD 199,547,000[89]. - The group recorded net current liabilities of approximately HKD 221,047,000 and net liabilities of approximately HKD 257,303,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[161]. - The total liabilities increased significantly, with convertible bonds amounting to HKD 199,547 thousand, up from HKD 39,729 thousand, indicating a rise of approximately 401.5%[152]. Cash Flow and Financial Management - The net cash used in operating activities was HKD (104,647) thousand, compared to HKD (8,315) thousand in the prior period, indicating a significant increase in cash outflow[156]. - The group has cash and cash equivalents of approximately HKD 144,000 as of September 30, 2024, compared to HKD 127,000 as of March 31, 2024[89]. - The company plans to improve its financial situation through capital raising activities such as rights issues or loan capitalization if necessary[106]. - The board has reviewed cash flow forecasts for the next twelve months, considering the impact of the aforementioned measures, and believes the group will have sufficient cash resources for future operational needs and upcoming financing requirements[188]. Strategic Initiatives - The company is actively seeking acquisition opportunities to gain new business in the Chinese market and strengthen its revenue and profit base[16]. - The group continues to enhance its customer base and supply chain in the chemical and agricultural products general trading business[85]. - The group aims to improve operational efficiency in the sales and integrated services segment through stringent project selection and cost control measures[85]. - The group aims to enhance operational efficiency by standardizing procedures and simplifying processes to eliminate redundancies and bottlenecks[110]. - The group is closely monitoring global economic trends to seize all business opportunities[110]. Shareholder Information - The board proposed a share consolidation, merging every eight existing ordinary shares of HKD 0.1 each into one consolidated ordinary share of HKD 0.8 each, which was approved by shareholders[73]. - Mr. Lin Qingqu holds a total of 495,460,166 shares, representing 185.30% of the company's equity[112]. - Mr. Lin Qingqu is also the beneficial owner of 305,490,241 shares held by the controlled company, representing 114.25% of the company's equity[115]. - The total number of share options that can be issued under the share option plan shall not exceed 10% of the total issued shares as of the adoption date, which is 26,738,953 shares[119]. - The company has no outstanding share options as of September 30, 2024[120]. Compliance and Reporting - The company has not applied new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[17]. - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2024, without significant changes to accounting policies or financial statement presentation[165]. - The company’s audit committee has reviewed the unaudited condensed consolidated interim results for the six months ending September 30, 2024[126]. - The company has not made any provisions for Hong Kong profits tax as there were no taxable profits for the periods ended September 30, 2024, and September 30, 2023[51].
伟俊集团控股-新(01013) - 2025 - 中期财报