Financial Performance - Revenue for the six months ended December 31, 2024, was HKD 28,936,000, representing a 20% increase from HKD 24,160,000 in the same period of 2023[3] - Gross profit for the same period was HKD 4,642,000, slightly down by 3.5% from HKD 4,812,000 year-on-year[3] - Operating loss narrowed to HKD 2,088,000 from a loss of HKD 2,771,000 in the previous year, indicating improved operational efficiency[3] - Net loss for the period was HKD 2,104,000, compared to a loss of HKD 2,934,000 in the prior year, reflecting a 28.3% reduction in losses[4] - The company reported a total comprehensive loss of HKD 2,148,000 for the period, down from HKD 3,311,000 in the previous year, reflecting a 35% improvement[4] - The company reported a net loss of HKD 2,104,000 for the six months ended December 31, 2024, a decrease in loss compared to HKD 2,934,000 for the same period in 2023[20] - Basic loss per share for the six months ended December 31, 2024, was HKD 0.0026, compared to HKD 0.0036 for the same period in 2023[28] - The company reported a loss attributable to owners of approximately HKD 2,096,000 for the six months ended December 31, 2024, a decrease of about 27.30% compared to HKD 2,883,000 for the same period in 2023[52] - Total revenue for the period was approximately HKD 28,936,000, an increase of about 19.77% from HKD 24,160,000 in the previous year[52] Assets and Liabilities - Total assets as of December 31, 2024, amounted to HKD 68,837,000, up from HKD 59,218,000 in June 2024, showing a 16.5% increase[6] - Trade and other receivables rose to HKD 41,866,000 from HKD 29,052,000, a 44% increase, suggesting improved credit terms or higher sales volume[6] - Total assets for the reportable segments increased to HKD 67,008,000 as of December 31, 2024, compared to HKD 59,815,000 as of December 31, 2023, reflecting a growth of 11.4%[21] - The total liabilities for the reportable segments rose to HKD 39,302,000 as of December 31, 2024, compared to HKD 30,484,000 as of December 31, 2023, indicating an increase of 29.0%[21] - The company's equity attributable to owners decreased to HKD 49,067,000 from HKD 51,207,000, a decline of 4.2%, indicating potential challenges in maintaining shareholder value[7] Inventory and Receivables - Inventory increased significantly to HKD 3,589,000 from HKD 2,128,000, marking a 68.5% rise, which may indicate stockpiling or increased sales expectations[6] - Trade receivables increased to HKD 40,656,000 as of December 31, 2024, compared to HKD 27,816,000 as of June 30, 2024, representing a 46% increase[33] - The aging analysis of trade receivables shows that overdue amounts over 180 days increased to HKD 18,470,000 from HKD 13,586,000, a 36% increase[34] Cash Flow - Cash and cash equivalents decreased to HKD 10,682,000 from HKD 17,038,000, a decline of 37.4%, indicating cash flow challenges[11] Segment Performance - The segment profit/loss for the swimwear and apparel segment was a loss of HKD 18,000, while the e-commerce segment reported a loss of HKD 675,000, resulting in a total segment loss of HKD 119,000 for the six months ended December 31, 2024[17] - The swimwear and apparel segment generated revenue of approximately HKD 10,085,000, a decrease from HKD 10,534,000, with a gross profit of HKD 3,761,000 and a gross margin of 37.29%[52] - The e-commerce and online shopping segment reported revenue of approximately HKD 18,419,000, up from HKD 13,218,000, with a gross profit of HKD 449,000 and a gross margin of 2.44%[53] - The lending segment maintained a gross profit margin of 100%, with revenue of approximately HKD 432,000, consistent with the previous year[55] Corporate Governance - The company has established an audit committee to review financial reports and oversee financial reporting procedures[81] - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[83] - All directors have adhered to the trading standards and the company's code of conduct regarding securities transactions[84] Management and Strategy - The company plans to continue cost-cutting measures and is cautiously optimistic about market recovery opportunities[65] - The company aims to deepen relationships with existing customers and seek new opportunities, including in mainland China[65] - The company will continue to monitor market challenges in the e-commerce segment, particularly due to the strong US dollar affecting pricing[65] - The company has terminated its stock option plan and adopted a new restricted share unit plan to incentivize employees and management[67] Share Capital and Dividends - No dividend payment is recommended for the six months ending December 31, 2024 (2023: none) [10] - The issued share capital remained unchanged at HKD 1,050,000,000 as of December 31, 2024 [39] - As of December 31, 2024, the total issued shares of the company amounted to 801,535,615 shares[74] - Mr. Liu Zhi Yuan holds 149,754,199 shares, representing approximately 18.68% of the issued share capital[73] - JL Investments Capital Limited owns 141,674,199 shares, accounting for about 17.68% of the issued share capital[73] - Big Good Management Limited, owned by Mr. Ma Kai Zhuo, holds 135,053,384 shares, which is 16.85% of the issued share capital[73] - Wide Select Investments Limited, owned by Mr. Li Yan, possesses 126,642,000 shares, representing 15.80% of the issued share capital[73] - Wide Select holds 237,435,165 shares in the company, which is approximately 29.62% of the issued share capital[77] - The company did not redeem any of its shares during the reporting period[79] Key Management Personnel - The total remuneration for key management personnel decreased to HKD 627,000 in 2024 from HKD 1,347,000 in 2023, a reduction of 53%[49]
荟萃国际(控股)(08041) - 2025 - 中期财报