Financial Performance - Same-store sales decreased by 15.9%, compared to a growth of 3.3% in the same period last year[3]. - Revenue for the period was HKD 612.7 million, down from HKD 694.9 million in the same period last year, representing a decline of approximately 11.6%[3][5]. - Operating profit for the period was HKD 114.6 million, compared to HKD 121.3 million in the previous year, reflecting a decrease of about 5.8%[3][5]. - Net profit for the period was HKD 3.1 million, an increase from HKD 1.7 million in the same period last year, marking a growth of approximately 82.0%[3][5]. - Earnings per share for the period was HKD 0.002, up from HKD 0.001 in the previous year[3][5]. - For the six months ending December 31, 2024, the group reported total revenue of HKD 612,703,000, a decrease from HKD 694,900,000 in the same period of 2023, representing a decline of approximately 11.8%[17]. - The group recorded a profit before tax of HKD 25,425,000 for the six months ending December 31, 2024, compared to HKD 6,461,000 for the same period in 2023, indicating a significant increase[21]. - The group’s operating profit for the six months ending December 31, 2024, was HKD 114,563,000, down from HKD 121,292,000 in the previous year[21]. - The group’s financial costs for the period were HKD 96,141,000, leading to a net financial cost of HKD 89,138,000[21]. - The company reported a net profit attributable to shareholders of HKD 3,108,000 for the six months ended December 31, 2024, compared to HKD 1,657,000 for the same period in 2023, indicating a significant increase[31]. - The gross profit margin for merchandise sales was 13.4%, slightly down from 13.9% in the previous year[60]. - Operating profit for the first half of the 2025 fiscal year was HKD 114.6 million, compared to HKD 121.3 million in the same period last year[71]. - The net profit for the first half of the 2025 fiscal year was HKD 3.1 million, an increase from HKD 1.7 million in the previous year[74]. Assets and Liabilities - Total assets as of December 31, 2024, were HKD 9,876.0 million, compared to HKD 10,205.5 million as of June 30, 2024[8][9]. - Total liabilities amounted to HKD 6,471.5 million, down from HKD 6,825.4 million in the previous period[9]. - The net accounts receivable as of December 31, 2024, was HKD 25.782 million, compared to HKD 21.303 million as of June 30, 2024[33]. - The company’s accounts payable as of December 31, 2024, was HKD 461.76 million, compared to HKD 442.928 million as of June 30, 2024[35]. - As of December 31, 2024, the group's cash and bank balances were HKD 803.2 million, down from HKD 875.3 million as of June 30, 2024[75]. - The group's borrowings amounted to HKD 1,418.0 million as of December 31, 2024, compared to HKD 1,469.3 million as of June 30, 2024[75]. - The net debt position of the group was HKD 614.8 million as of December 31, 2024, an increase from HKD 594.0 million as of June 30, 2024[75]. - Current liabilities exceeded current assets by HKD 2,558.8 million as of December 31, 2024, compared to HKD 2,606.4 million as of June 30, 2024[75]. - The group's capital commitments were HKD 60.7 million as of December 31, 2024, up from HKD 42.6 million as of June 30, 2024[75]. Cash Flow and Financial Forecast - The group reported a net cash flow forecast covering the next twelve months, considering available internal funds and financial resources[11]. - The group expects sufficient resources to continue operations and meet financial obligations for the foreseeable future, based on anticipated cash flows and the successful renewal of shareholder loans[14]. Shareholder and Dividend Information - The group has confirmed that shareholder loans from New World Development will be renewed for another 12 months after their maturity on December 31, 2024, with short-term bank borrowings of approximately HKD 699,857,000 guaranteed by New World Development[12]. - The company did not declare an interim dividend for the six months ended December 31, 2024, consistent with the previous year[29]. - The board decided not to declare an interim dividend for the six months ended December 31, 2024, consistent with the previous year[81]. Membership and Customer Engagement - The total number of members reached 7.87 million, representing a year-on-year growth of 4.7%[40]. - The company is focusing on enhancing member engagement through marketing activities such as "V Friends Festival" and "Tuesday Member Day"[40]. - The company launched a member consumption event "V Friend Festival," resulting in over 8,000 new member registrations across all stores[48]. - The company implemented a weekly member day, leading to over 7,000 new members during the Beijing Chongwen store's 26th anniversary celebration[49]. - The company is focusing on enhancing member engagement through innovative activities, such as the "Crazy Animal City" live role-playing show in Shanghai[51]. - The company is enhancing its marketing strategies by integrating online and offline channels, resulting in significant member growth through social media promotions[50]. Business Operations and Expansion - The company operates 22 department stores and shopping centers across 12 major cities in China, with a total floor area of approximately 920,000 square meters[38]. - The company is actively expanding its product offerings by introducing flagship stores and enhancing the shopping experience with new brands[44]. - The company is actively expanding its dining ecosystem by introducing various food brands, including "Popeyes" and "Yeye Bu Pao Tea" in different locations[46]. - The company is leveraging digital trends by integrating its membership system with "China UnionPay Cloud Quick Payment" to improve operational efficiency[40]. - The company is creating immersive experiences through themed restaurants and events, such as the "潮玩星球" (Trendy Play Planet) in Beijing, targeting the growing two-dimensional culture market[47]. - The company is leveraging online platforms like "Meituan" and "JD Instant Delivery" to improve business delivery efficiency and adapt to the growing demand for in-store and home delivery services[53]. - The company plans to launch "LOL Shared Fitness" in Nanjing to promote a healthier lifestyle and diversify its business[56]. - The group is actively seeking new growth points and aims to enhance product categories and improve online and offline integration[57]. Employee Information - The total number of employees as of December 31, 2024, was 1,734, a decrease from 2,011 in 2023[82]. Other Information - The group did not purchase, sell, or redeem any of its listed securities during the six-month period ended December 31, 2024[83]. - There were no significant acquisitions or disposals in the first half of the fiscal year 2025[80]. - The group's mid-term performance for the six months ended December 31, 2024, was reviewed by the audit committee but not audited by external auditors[88].
新世界百货中国(00825) - 2025 - 中期业绩