Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 63,968,000, a decrease of 21.9% compared to HKD 81,953,000 for the same period in 2023[11] - The net profit for the period was HKD 4,995,000, down 38.5% from HKD 8,085,000 in the previous year[11] - Basic earnings per share for the period was HKD 1.76, compared to HKD 3.37 for the same period last year, reflecting a decline of 47.8%[11] - The company reported a pre-tax profit of HKD 5,892,000 for the six months ended September 30, 2024, down from HKD 9,911,000 in 2023[34] - The profit before tax for the six months ended September 30, 2024, was HKD 4,995,000, a decrease from HKD 8,085,000 in the previous year[47] - For the six months ended September 30, 2024, the profit attributable to the owners of the company was approximately HKD 5 million, a decrease of about 38% compared to approximately HKD 8.1 million for the same period ended September 30, 2023[78] - The gross profit decreased to approximately HKD 32.2 million, a decline of about 36.7% compared to HKD 50.9 million in the same period last year[89] - The product gross margin fell from approximately 62.1% to about 50.3%, primarily due to a decrease in the proportion of higher-margin retail sales[89] Revenue Breakdown - Revenue from tile sales was HKD 38,753,000, a decline of 49% compared to HKD 75,764,000 in the previous year[28] - Revenue from bathroom fixtures and others increased significantly to HKD 16,419,000 from HKD 5,949,000, representing a growth of 175%[28] - Revenue from solar panels was HKD 8,556,000, compared to no revenue in the same period last year[28] - Revenue from non-retail sales decreased by approximately 32.9% to about HKD 30.4 million, down from HKD 45.3 million for the six months ended September 30, 2023, primarily due to a decline in tile product sales[79] - Retail sales revenue from tiles and sanitary ware decreased by approximately 31.9% to about HKD 24.8 million, down from HKD 36.4 million year-on-year[84] - For the six months ended September 30, 2024, the total revenue of the company decreased by approximately 22% to HKD 64 million from HKD 82 million in the same period last year[83] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 242,299,000, an increase from HKD 224,013,000 as of March 31, 2024[14] - The total assets as of September 30, 2024, amounted to HKD 328,915,000, an increase from HKD 316,992,000 as of March 31, 2024[36] - The total liabilities as of September 30, 2024, were HKD 180,500,000, compared to HKD 173,572,000 as of March 31, 2024[36] - As of September 30, 2024, trade receivables amounted to HKD 41,006 thousand, a decrease from HKD 66,180 thousand as of March 31, 2024[60] - Total borrowings decreased to HKD 70,837 thousand as of September 30, 2024, down from HKD 92,083 thousand as of March 31, 2024[69] - The group’s debt-to-equity ratio was approximately 0.48 times as of September 30, 2024, compared to 0.64 times as of March 31, 2024[101] Cash Flow and Financing - Net cash generated from operating activities for the six months ended September 30, 2024, was HKD 25,475,000, a decrease of 16% from HKD 30,377,000 in 2023[18] - The net cash increase for the period was HKD 6,777,000, compared to HKD 2,117,000 in the previous year, indicating improved cash flow management[18] - The company’s cash and cash equivalents at the end of the period were HKD 15,418,000, slightly down from HKD 15,894,000 in 2023[18] - Cash and cash equivalents increased to HKD 15,418 thousand as of September 30, 2024, compared to HKD 8,641 thousand as of March 31, 2024[63] - The company reported a bank overdraft of HKD 2,520 thousand as of September 30, 2024, down from HKD 7,824 thousand as of March 31, 2024[63] - The company reported a financing cost of HKD 2,459,000, down from HKD 3,844,000, representing a reduction of 36.0%[11] - The interest expense from bank borrowings for the six months ended September 30, 2024, was HKD 1,491,000, a decrease from HKD 1,888,000 in the previous year[40] Corporate Governance and Shareholder Information - The company has confirmed compliance with the corporate governance code, except for the combined roles of Chairman and CEO, which are held by Mr. Cao Sihao[129] - The board does not recommend any dividend payment for the six months ended September 30, 2024, consistent with the previous year[115] - The company has adopted a share option scheme, granting options to purchase a total of 4,800,000 shares at an exercise price of HKD 0.3 per share, which represents 1.69% of the issued share capital as of September 30, 2024[132] - No share options were exercised during the six-month period ending September 30, 2024[132] - There are no known interests or conflicts of interest held by directors or controlling shareholders in any competing businesses as of September 30, 2024[126] - The company is committed to high standards of corporate governance to protect shareholder interests[129] Future Plans and Strategies - The company plans to focus on market expansion and new product development to drive future growth[12] - The company plans to continue expanding its product offerings and market presence, particularly in the solar panel segment, which showed promising growth[22] - The group plans to enhance operational efficiency and diversify revenue sources to improve financial performance amid a challenging macroeconomic environment[116] - The group aims to expand its business in the renewable energy sector to diversify and increase revenue streams[116] - The group will focus on increasing non-retail sales revenue through strengthened partnerships with existing distributors and project clients[116] Employee and Operational Costs - Employee costs for the six months ended September 30, 2024, were approximately HKD 7.5 million, down from HKD 8.7 million in the previous year[94] - The company maintained stable rental income from investment properties at approximately HKD 0.2 million, unchanged from the previous year[86]
MOS HOUSE(01653) - 2025 - 中期财报