Financial Results - The unaudited condensed consolidated results for the six months ended September 30, 2025, have been announced, with comparative figures for the same period in 2024 provided[14]. - The report includes the unaudited condensed consolidated statement of profit or loss and other comprehensive income for the period[15]. - The financial results have been reviewed and approved by the audit committee of the Company, although they have not been audited by an independent auditor[14]. - Revenue for the six months ended September 30, 2025, increased to HK$91,629,000, up 55% from HK$59,027,000 in the same period of 2024[16]. - Gross profit for the same period rose to HK$18,977,000, representing a 65.7% increase compared to HK$11,461,000 in 2024[16]. - Profit before taxation decreased to HK$1,989,000, down 13.2% from HK$2,290,000 in the previous year[16]. - The company reported a profit and total comprehensive income of HK$1,160,000 for the period, a decrease from HK$1,536,000 in the previous year[16]. - Basic and diluted earnings per share decreased to HK$0.10 from HK$0.13 in the same period of 2024[16]. - Total segment revenue for the six months ended September 30, 2025, was HK$117,052,000, up from HK$73,649,000 in 2024[54]. - The Group's profit before taxation decreased to HK$1,160,000 for the six months ended September 30, 2025, compared to HK$1,536,000 in the same period of 2024, reflecting a decline of approximately 24%[69]. Financial Position - Total assets as of September 30, 2025, amounted to HK$231,241,000, compared to HK$204,078,000 as of March 31, 2025[18]. - Current liabilities increased to HK$52,552,000 from HK$34,670,000, reflecting a rise of 51.6%[18]. - Net current assets improved to HK$178,689,000, up from HK$169,408,000 as of March 31, 2025[18]. - Cash and cash equivalents at the end of the period were HK$64,647,000, down from HK$89,707,000 in 2024[22]. - Trade receivables decreased significantly from HK$10,674,000 as of March 31, 2025, to HK$6,044,000 as of September 30, 2025, indicating a reduction of about 43%[76]. - Total prepayments, deposits, and other receivables decreased from HK$60,884,000 as of 31 March 2025 to HK$53,561,000 as of 30 September 2025, a reduction of approximately 12.1%[80]. - The Group's total current portion of prepayments, deposits, and other receivables was HK$53,173,000 as of 30 September 2025, down from HK$60,496,000 as of 31 March 2025, reflecting a decrease of approximately 12.1%[80]. - The Group's debt as of September 30, 2025, included approximately HK$1,718,000 in lease liabilities, down from HK$3,394,000 as of March 31, 2025[155]. Revenue Breakdown - Sales of ODM toys to license holders increased to HK$32,269,000, up 16% from HK$27,789,000 year-over-year[46]. - Distribution of imported toys and related products saw a significant rise to HK$40,134,000, compared to HK$17,650,000, marking a 127% increase[46]. - Revenue from sales of own licensed toys and related products grew to HK$15,726,000, up 64% from HK$9,588,000[46]. - Revenue from agency services related to engineering projects decreased to HK$3,500,000 from HK$4,000,000, a decline of 12.5%[46]. - The percentage of revenue contributed by the Group's five largest customers decreased to approximately 50% from 60% in the corresponding period[47]. Expenses and Costs - Selling expenses increased sharply by approximately 127.0% to approximately HK$5,417,000, primarily due to increased event promotion and branding development expenditures[145]. - Administrative expenses rose by approximately 19.7% to approximately HK$12,232,000, mainly due to new expenditures from the US operation[146]. - The depreciation of property, plant, and equipment amounted to HK$884,000 for the period, down from HK$2,651,000 in the previous year, indicating a significant reduction in depreciation expenses[65]. - The Group's finance costs decreased from HK$158,000 in 2024 to HK$96,000 in 2025, showing a reduction of approximately 39%[65]. Corporate Governance and Compliance - The Company has a responsibility to provide information in compliance with the GEM Listing Rules[4]. - The Group has complied with the Corporate Governance Code during the period, except for a deviation regarding the roles of chairman and CEO being held by Mr. Li[196]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2025, confirming compliance with applicable accounting standards and GEM Listing Rules[199]. Future Outlook and Strategy - The Group plans to explore potential business opportunities beyond the ACG figure toys market to broaden income sources and enhance shareholder value[173]. - The Group expects all contract liabilities to be recognized as revenue within one year[111]. Shareholder Information - As of September 30, 2025, the company's issued ordinary share capital was HK$11,923,077, divided into 1,192,307,692 shares of HK$0.01 each[193]. - Mr. Li Wai Keung holds a beneficial interest in 220,640,000 shares, representing 18.51% of the company's issued share capital[180]. - The company did not redeem any of its ordinary shares during the period, nor did it purchase or sell any ordinary shares[186]. - The Group did not recommend the payment of an interim dividend for the Period, similar to the corresponding period[168].
佰悦集团(08545) - 2026 - 中期财报