雅天妮集团(00789) - 2025 - 年度业绩

Company Overview and Performance Highlights Performance Highlights For the year ended March 31, 2025, Artini Group reported robust growth in revenue, gross profit, and net profit, with basic earnings per share remaining flat and no final dividend declared Key Financial Indicators for FY2025 | Indicator | FY2025 (HK$'000) | FY2024 (HK$'000) | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenue | 150,700 | 71,181 | +111.7% | | Gross Profit | 34,229 | 15,860 | +115.8% | | Net Profit | 7,609 | 6,825 | +11.5% | - Overall gross profit margin slightly increased from approximately 22.3% in the previous year to approximately 22.7% in the current year[3] - Basic earnings per share attributable to owners of the Company remained flat at approximately HK$0.006, consistent with 2024[4] - The Board recommended no final dividend for the year ended March 31, 2025[5] Consolidated Financial Statements Consolidated Statement of Profit or Loss and Other Comprehensive Income For the current year, the Group's total revenue significantly increased to HK$151 million, leading to higher gross profit and a profit for the year of HK$7.61 million, with basic and diluted earnings per share at HK$0.006 Key Data from Consolidated Statement of Profit or Loss (For the year ended March 31) | Item | 2025 (HK$'000) | 2024 (HK$'000) | | :--- | :--- | :--- | | Revenue | 150,700 | 71,180 | | Gross Profit | 34,229 | 15,860 | | Other income and losses, net | 10,144 | 19,541 | | Selling and distribution expenses | (17,978) | (16,391) | | Administrative expenses | (18,126) | (12,450) | | Profit before income tax | 8,592 | 6,795 | | Profit for the year | 7,609 | 6,825 | | Basic and diluted earnings per share (HKD) | 0.006 | 0.006 | Consolidated Statement of Financial Position As of March 31, 2025, the Group's total assets increased to HK$197 million and net assets to HK$177 million, indicating improved financial health and liquidity, while total liabilities significantly decreased Key Data from Consolidated Statement of Financial Position (As at March 31) | Item | 2025 (HK$'000) | 2024 (HK$'000) | | :--- | :--- | :--- | | Non-current assets | 36,007 | 34,174 | | Current assets | 161,432 | 116,035 | | Total assets | 197,439 | 150,209 | | Current liabilities | 18,558 | 30,751 | | Non-current liabilities | 1,956 | 6,328 | | Total liabilities | 20,514 | 37,079 | | Net assets/Total equity | 176,925 | 113,130 | Notes to the Consolidated Financial Statements Company Information and Accounting Policies Artini Group, an investment holding company, primarily sells fashion accessories and beauty & health products online, with financial statements prepared under Hong Kong Financial Reporting Standards on a going concern basis, and newly applied accounting standards had no significant impact this year - The Group's principal activities involve selling fashion accessories (integrated fashion accessories platform business) and beauty and health products (beauty and health products sales platform business) through self-operated and third-party online platforms[8] - The directors believe the Company has sufficient resources to continue as a going concern, thus the financial statements are prepared on a going concern basis[11] - The revised Hong Kong Financial Reporting Standards applied this year had no significant impact on the Group's financial position and performance[15] Revenue and Segment Information This year's total revenue of HK$151 million was entirely from product sales, with significant contributions from both fashion accessories and beauty & health product segments, and Mainland China emerging as the primary revenue source Revenue by Business Segment (HK$'000) | Business Segment | 2025 Revenue (HK$'000) | 2024 Revenue (HK$'000) | | :--- | :--- | :--- | | Integrated Fashion Accessories Platform Business | 86,775 | 67,769 | | Beauty and Health Products Sales Platform Business | 63,925 | 3,411 | Revenue by Geographical Segment (HK$'000) | Region | 2025 Revenue (HK$'000) | 2024 Revenue (HK$'000) | | :--- | :--- | :--- | | Americas | 30,792 | 62,851 | | China (excluding Hong Kong and Macau) | 119,645 | 5,657 | | Others | 263 | 2,672 | - In FY2025, Customer D became a major customer, contributing HK$16.96 million in revenue, while the three major customers from FY2024 each contributed less than 10% of total revenue this year[29] Notes on Other Financial Items This year's net other income and losses were HK$10.14 million, a decrease from the prior year, while staff costs increased, no dividends were declared, and net trade receivables rose to HK$50.23 million, with most within 180 days - Net other income and losses amounted to HK$10.14 million, primarily comprising a gain of HK$9.12 million from the derecognition of a subsidiary and a reversal of impairment loss on trade receivables of HK$1.03 million[31] - Staff costs, including directors' emoluments, increased from HK$6.79 million to HK$10.38 million[32] - The average credit period for trade receivables was extended from 30-90 days last year to 30-180 days this year[39] - The Company neither declared nor proposed any dividends for the current or prior year[33] Management Discussion and Analysis Business Review and Outlook Despite macroeconomic challenges, the Group achieved business growth by optimizing product portfolios and market strategies, notably expanding in China for fashion accessories and significantly growing beauty and health products, with future plans focusing on integrated marketing and deepening market penetration in China - To mitigate geopolitical risks, the Group adjusted its market strategy, intensifying efforts to expand into the Chinese market and reducing reliance on the Americas market[44] - The beauty and health products sales platform business capitalized on the "beauty economy" and health industry opportunities, achieving significant market growth and increasing its contribution to total sales[45] - Future plans include strengthening offline marketing investments, promoting deep integration of online and offline channels, and continuously optimizing the product portfolio[49] - The Group plans to actively respond to the national "dual circulation" economic development strategy by increasing resource allocation to the Chinese market[51] Financial Review This year's strong financial performance saw total revenue grow by 111.7%, driven by explosive growth in beauty and health products and solid growth in fashion accessories, leading to increased gross profit and a profit for the year of HK$7.61 million Revenue Growth by Business Segment | Business Segment | FY2025 Revenue (HK$'000) | FY2024 Revenue (HK$'000) | YoY Growth | | :--- | :--- | :--- | :--- | | Fashion Accessories Platform Business | 86,775 | 67,769 | +28.0% | | Beauty and Health Products Sales Platform Business | 63,925 | 3,411 | +1774.1% | - Gross profit margin slightly increased from 22.3% to 22.7%, primarily due to a higher proportion of sales from beauty and health products, which have higher gross margins[54] - Selling and distribution expenses increased by 9.7%, mainly due to higher promotion costs for the fashion accessories business in the Chinese market[56] - Administrative expenses increased by 45.6%, primarily due to higher staff costs, depreciation of right-of-use assets, and other professional fees[57] Liquidity, Financial Resources, and Risk Management The Group maintains a robust financial position, primarily funding operations through internal resources, with significant cash reserves and no bank borrowings, a significantly reduced capital gearing ratio, and manages Renminbi exchange rate fluctuations without derivative hedging - As of March 31, 2025, the Group's cash and cash equivalents amounted to approximately HK$53.35 million, with no outstanding borrowings[59] - The capital gearing ratio (total liabilities/total equity) decreased from 32.8% in 2024 to 11.6% in 2025[59] - The Group's primary foreign exchange risk arises from Renminbi fluctuations, but management has not adopted any derivative instruments for hedging[63] - As at the end of the reporting period, the Group had no significant capital commitments, contingent liabilities, or pledged assets[60][61][64] Other Information Employees and Remuneration Policy As of March 31, 2025, the Group had 25 employees with total staff costs of approximately HK$10.38 million, and it incentivizes talent through competitive remuneration and training, having adopted a share option scheme with no options granted to date Employee Statistics Comparison | Item | 2025 | 2024 | | :--- | :--- | :--- | | Number of Employees | 25 | 44 | | Total Staff Costs (HK$'000) | 10,379 | 6,794 | - The Company has adopted a share option scheme as an incentive, but no share options have been granted, exercised, cancelled, or lapsed since its adoption[70] Use of Proceeds from Placing The Company completed a placing in October 2024, raising approximately HK$58.9 million in net proceeds, with HK$32.63 million utilized by March 31, 2025, primarily for business operations and improvements, and the remainder expected to be fully utilized by December 2025 - A placing was completed on October 4, 2024, involving 220 million shares at HK$0.270 per share, raising net proceeds of approximately HK$58.9 million[74] Use of Placing Proceeds and Utilization Status (As of March 31, 2025) | Purpose | Planned Amount (HK$ million) | Utilized Amount (HK$ million) | Unutilized Amount (HK$ million) | | :--- | :--- | :--- | :--- | | Operating and enhancing fashion accessories business | 15.80 | 15.80 | – | | Marketing activities | 19.50 | 2.32 | 17.18 | | Improving online platform | 12.00 | 5.57 | 6.43 | | General working capital and corporate purposes | 11.60 | 8.94 | 2.66 | | Total | 58.90 | 32.63 | 26.27 | Corporate Governance and Compliance The Company consistently complied with the Corporate Governance Code and maintained sufficient public float, with the Audit Committee reviewing annual results and the auditor confirming consistency between preliminary and audited financial figures - The Company has complied with all code provisions of the Corporate Governance Code as set out in Appendix C1 to the Listing Rules throughout the year[78] - The Audit Committee, comprising three independent non-executive directors, has reviewed the annual results and the audited consolidated financial statements for the year[80] - The Company has maintained a sufficient public float as required by the Listing Rules throughout the year and up to the date of this announcement[73] - The Group's auditor, Ascent Partners CPA Limited, has confirmed that the financial figures in this announcement are consistent with the amounts contained in the audited consolidated financial statements for the year[81]