Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 1,618,471,000, a decrease of 10.1% compared to HKD 1,800,461,000 for the same period in 2024[3] - Gross profit for the same period was HKD 487,638,000, down 13.0% from HKD 560,423,000 year-on-year[3] - Profit before tax decreased to HKD 165,676,000, a decline of 11.0% from HKD 186,016,000 in the previous year[4] - Net profit for the period was HKD 100,773,000, down 15.6% from HKD 119,384,000 in the prior year[4] - Basic earnings per share decreased to HKD 0.2068, down from HKD 0.2450 year-on-year, representing a decline of 15.5%[4] - Total comprehensive income for the period was HKD 124,955,000, a decrease of 15.7% compared to HKD 148,307,000 in the same period last year[4] Cash and Assets - Cash and cash equivalents increased to HKD 978,785,000 from HKD 836,081,000, reflecting a growth of 17.0%[5] - Inventory decreased to HKD 446,427,000 from HKD 466,304,000, a reduction of 4.3%[5] - Non-current assets increased to HKD 636,452,000 from HKD 589,431,000, an increase of 8.0%[5] - Total assets of the group as of September 30, 2025, amounted to HKD 2,428,139,000, an increase from HKD 2,243,513,000 as of March 31, 2025[15] - Total equity increased to HKD 1,798,348,000 from HKD 1,754,782,000, reflecting a growth of 2.5%[6] Liabilities and Dividends - The total liabilities of the group as of September 30, 2025, were HKD 629,791,000, compared to HKD 488,731,000 as of March 31, 2025, indicating an increase of 28.9%[15] - The company declared an interim dividend of HKD 5.3 cents per share, totaling HKD 25,830,000, compared to HKD 6.1 cents per share and HKD 29,729,000 in the previous year[22] - The company declared an interim dividend of HKD 0.053 per share and a special dividend of HKD 0.155 per share, totaling HKD 101,371,000, down from HKD 119,890,000 in the previous year[34] Operational Highlights - The operating profit for the China segment was HKD 218,149,000, compared to HKD 212,328,000 in the previous year, reflecting a growth of 2.5%[12] - Revenue from operations in mainland China slightly decreased by 4.7% to HKD 1,261,000,000 compared to HKD 1,323,000,000 in 2024[37] - Revenue from Hong Kong operations decreased by approximately 17.2% to HKD 351,000,000 from HKD 424,000,000 in 2024[38] Expenses and Losses - The depreciation expense for property, plant, and equipment was HKD 23,632,000 for the six months ended September 30, 2025, down from HKD 28,684,000 in the same period of 2024[18] - The group incurred a loss of HKD 706,000 from the sale of property, plant, and equipment during the period, compared to a loss of HKD 277,000 in the previous year[27] - The group’s interest income from bank deposits decreased to HKD 4,225,000 from HKD 6,449,000 year-on-year, reflecting a decline of 34.5%[16] - Total rental expenses decreased by 3.9% to HKD 99,000,000, accounting for 27.0% of total operating expenses[39] Governance and Compliance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules, with exceptions regarding the separation of roles between the Chairman and CEO since February 10, 2021[48] - The audit committee consists of three independent non-executive directors and has reviewed the accounting principles and internal controls for the six months ending September 30, 2025[50] - The interim results announcement is available on the Hong Kong Stock Exchange and the company's website, complying with all regulatory requirements[51] - The board of directors includes executive and independent non-executive members, ensuring a diverse governance structure[52] Inventory and Receivables - Trade receivables amounted to HKD 219,032,000 as of September 30, 2025, up from HKD 198,773,000 as of March 31, 2025, indicating an increase of about 10.2%[30] - Trade payables increased to HKD 40,121,000 as of September 30, 2025, compared to HKD 25,571,000 as of March 31, 2025, reflecting a rise of approximately 56.8%[31] - Inventory levels decreased by 4.3% to HKD 446,000,000 compared to HKD 466,000,000 as of March 31, 2025[39] Future Outlook - The luxury goods market is expected to remain under pressure in the short term, with a focus on strengthening partnerships with leading brands and selective store openings[40]
东方表行集团(00398) - 2026 - 中期业绩