Financial Performance - For the six months ended September 30, 2025, the group recorded revenue of approximately HKD 38.5 million, an increase of approximately HKD 29.0 million or 305.3% compared to HKD 9.5 million for the same period in 2024[4] - The gross profit margin decreased from approximately 0.1% for the six months ended September 30, 2024, to approximately 0.02% for the same period in 2025[4] - The loss attributable to owners of the company for the six months ended September 30, 2025, was approximately HKD 3.5 million, a decrease of approximately HKD 1.3 million compared to a loss of HKD 4.8 million for the same period in 2024[4] - Diesel sales for the three months ended September 30, 2025, amounted to HKD 14,179,000, a significant increase from HKD 3,841,000 in the same period of 2024, representing a growth of 269%[12] - For the six months ended September 30, 2025, total diesel sales reached HKD 38,013,000, compared to HKD 8,833,000 in 2024, marking a 329% increase[12] - The company reported a loss attributable to equity holders of HKD (1,603,000) for the three months ended September 30, 2025, compared to a loss of HKD (3,233,000) in 2024, reflecting an improvement of 50%[19] - For the six months ended September 30, 2025, the loss attributable to equity holders was HKD (3,457,000), an improvement from HKD (4,787,000) in the same period of 2024, indicating a 28% reduction in losses[19] - Total revenue from customer contracts recognized at a point in time for the six months ended September 30, 2025, was HKD 38,393,000, compared to HKD 9,310,000 in 2024, representing a 313% increase[12] Cash Flow and Liquidity - The net cash used in operating activities for the six months ended September 30, 2025, was HKD 2.25 million, an improvement from HKD 6.84 million for the same period in 2024[8] - Cash and cash equivalents at the end of the reporting period were HKD 1.65 million, compared to HKD 0.48 million at the end of the same period in 2024[8] - As of September 30, 2025, the current ratio was approximately 0.79, calculated as total current assets divided by total current liabilities[50] - The company has maintained sufficient public float as required by the GEM listing rules as of the announcement date[83] Assets and Liabilities - As of September 30, 2025, trade receivables increased to HKD 41.83 million from HKD 30.45 million as of March 31, 2025[6] - Current liabilities increased to HKD 61.37 million as of September 30, 2025, compared to HKD 46.33 million as of March 31, 2025[6] - The total equity attributable to owners of the company decreased to HKD (12.74) million as of September 30, 2025, from HKD (9.28) million as of March 31, 2025[6] - As of September 30, 2025, trade receivables from third parties amounted to HKD 84,104 thousand, with a loss allowance of HKD 42,274 thousand, resulting in a net trade receivable of HKD 41,830 thousand[22] - Trade payables to third parties were HKD 31,694 thousand as of September 30, 2025, compared to HKD 19,152 thousand as of March 31, 2025[25] Operational Efficiency - The average purchase cost of diesel decreased by 14.9% from approximately HKD 5.29 per liter for the six months ending September 30, 2024, to approximately HKD 4.5 per liter for the same period in 2025[41] - Administrative and other operating expenses decreased by approximately HKD 1.1 million or 24.4% to approximately HKD 3.4 million for the six months ending September 30, 2025[45] - The company continues to maintain and invest in its working capital to support business growth and improve operational liquidity[57] Corporate Governance - The audit committee, consisting of three independent non-executive directors, has reviewed and approved the interim financial report for the six months ending September 30, 2025[82] - The company is committed to maintaining high standards of corporate governance and has complied with the GEM listing rules throughout the reporting period[80] - The company has established a remuneration committee to review and approve the overall remuneration policy for all directors and senior management[77] Environmental Responsibility - The company has not faced any prosecutions, fines, or penalties for violations of applicable environmental laws or regulations as of the announcement date[62] - The company has implemented various environmental protection measures to minimize its impact on the environment and natural resources[61] Shareholder Information - As of September 30, 2025, the chairman holds 27,559,000 shares, representing 68.9% of the total issued share capital[64] - As of September 30, 2025, the company had a total of 40,000,000 shares issued, with a significant shareholder holding 27,559,000 shares, representing 68.9% of the issued capital[67] - The company has a stock option plan that allows for a total of 4,000,000 options to be granted, which is 10% of the issued shares as of the mid-report date[69] - There were no stock options granted, exercised, lapsed, or cancelled during the reporting period, and no unexercised options as of September 30, 2024[69] Future Outlook - The company will maintain a prudent financial policy and optimize asset allocation to ensure sufficient funding for business development[37] - The upgrade of the IT system has been completed successfully, with full operation expected by March 2024[57] - The company has allocated HKD 15 million for purchasing diesel tankers, with HKD 2.6 million utilized and HKD 12.4 million remaining unspent as of September 30, 2025[58] - The company has invested HKD 10.8 million in expanding its workforce, with HKD 1.7 million remaining unspent as of September 30, 2025[58]
裕丰昌控股(08631) - 2026 - 中期业绩