Financial Performance - For the six months ended September 30, 2025, the company reported revenue of HKD 78,701,000, a decrease of 11.1% from HKD 88,524,000 in the same period of 2024[3] - Gross profit for the same period was HKD 46,029,000, down 15.7% from HKD 54,580,000 year-on-year[3] - The company recorded a net loss of HKD 1,597,000, an improvement from a loss of HKD 2,614,000 in the previous year, representing a 38.7% reduction in losses[4] - Basic and diluted loss per share was HKD 0.006, compared to HKD 0.013 in the prior year[3] - Total comprehensive income for the period was HKD 3,160,000, down from HKD 4,094,000 in the same period last year[4] - The group incurred a pre-tax loss of HKD 1,605,000 for the six months ended September 30, 2025, compared to a loss of HKD 2,534,000 in the same period of 2024[14] - The group’s interest income from financial assets at amortized cost was HKD 680,000 for the six months ended September 30, 2025, down from HKD 1,507,000 in 2024, a decrease of approximately 55%[14] - The group’s depreciation expense for the six months ended September 30, 2025, was HKD 14,112,000, compared to HKD 17,673,000 in the same period of 2024, indicating a reduction of about 20%[14] - The group's revenue decreased by 11.1% to HKD 78,701,000 compared to HKD 88,524,000 in the previous year, primarily due to the contraction of the Hong Kong apparel retail market[31] Assets and Liabilities - Non-current assets increased to HKD 348,242,000 as of September 30, 2025, from HKD 343,627,000 at the end of the previous fiscal year[5] - Current assets totaled HKD 163,605,000, slightly up from HKD 162,149,000 at the end of March 2025[5] - The company reported a net asset value of HKD 405,071,000, down from HKD 418,497,000 at the end of the previous fiscal year[5] - The group reported a total asset value of HKD 786,690,000 as of September 30, 2025, slightly down from HKD 789,042,000 as of March 31, 2025[13] - The group’s total liabilities amounted to HKD 459,805,000 as of September 30, 2025, compared to HKD 464,524,000 as of March 31, 2025, showing a decrease of about 1.5%[13] - The net asset value of the group as of September 30, 2025, was HKD 405,071,000, down from HKD 418,497,000 as of March 31, 2025[35] - The group's capital-to-debt ratio as of September 30, 2025, was 0.106, slightly down from 0.108 as of March 31, 2025[35] Segment Performance - For the six months ended September 30, 2025, the reported segment profit was HKD 13,277,000, a decrease from HKD 14,842,000 in the same period of 2024, representing a decline of approximately 10.6%[14] - The total reported segment revenue for the six months ended September 30, 2025, was HKD 79,917,000, down from HKD 89,746,000 in 2024, indicating a decrease of about 11%[13] - The sales revenue from the ready-made clothing segment for the twelve months ended September 30, 2025, was HKD 110,519,000, compared to HKD 161,679,000 for the same period in 2024, reflecting a decline of approximately 31.6%[15] - The average sales in the ready-made clothing segment are expected to perform better in the second half of the year due to increased product demand during the holiday season[15] Cash Flow and Investments - The company’s cash and cash equivalents increased to HKD 99,176,000 from HKD 93,673,000 in the previous period[5] - The group’s cash and bank deposits as of September 30, 2025, amounted to HKD 99,176,000, up from HKD 93,673,000 as of March 31, 2025[34] - The group invested approximately HKD 206,000 in the acquisition and replacement of property, plant, and equipment during the period, compared to HKD 16,000 in the previous year[35] Corporate Governance and Compliance - The company has not adopted any new standards or interpretations that have not yet come into effect during the current accounting period[10] - The group did not declare or pay an interim dividend for the six-month period ended September 30, 2025, compared to no dividend declared in the same period of 2024[22] - The company has adhered to the corporate governance code as per the listing rules during the period ending September 30, 2025[38] - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group[40] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any of its subsidiaries during the period ending September 30, 2025[41] - The interim report for the period ending September 30, 2025, will be sent to shareholders and published on the company's website[42] Strategic Outlook - The group operates a distribution network of 34 sales points, with 29 in Hong Kong and 5 in Macau, and will approach store network expansion cautiously[31] - The group has a strategy to manage foreign exchange risks primarily arising from revenues and expenses denominated in USD, EUR, GBP, and RMB[36] - The group proposed a capital reduction of HKD 363,909,000, reducing the capital account from HKD 383,909,000 to HKD 20,000,000, pending certain conditions[28] - As of September 30, 2025, the total number of employees in the group is approximately 190[37]
YGM TRADING(00375) - 2026 - 中期业绩