Financial Performance - For the six months ended September 30, 2025, the Group's revenue was approximately HK$13,277,000, an increase of 38.3% from HK$9,582,000 in 2024[7]. - The Group recorded a gross profit of approximately HK$2,681,000, compared to HK$1,107,000 in 2024, primarily driven by rental income and bottled mineral water sales[10]. - The loss attributable to owners of the Company was approximately HK$5,322,000, a significant reduction from HK$15,721,000 in 2024, mainly due to increased revenue from the bottled mineral water business[21]. - Total comprehensive income for the period was HK$2,458,000, compared to a loss of HK$11,619,000 in the same period last year[187]. - The Group reported a loss for the period of HK$5,322,000 for the six months ended 30 September 2025, compared to a loss of HK$15,721,000 for the same period in 2024, indicating a reduction in losses by approximately 66.1%[192]. Revenue Sources - Revenue from the sales of bottled mineral water was approximately HK$7,536,000 for the Reporting Period, a significant increase from HK$2,437,000 in 2024[38]. - Revenue from the property development and investment segment was approximately HK$5,741,000, a decrease from HK$7,145,000 in 2024, while profit increased to approximately HK$7,184,000 from HK$1,975,000 in 2024[60][65]. Expenses and Costs - The cost of sales for the Reporting Period was approximately HK$10,596,000, up from HK$8,475,000 in 2024, reflecting the growth in revenue from property sales and bottled mineral water[9]. - Selling and distribution expenses increased to approximately HK$2,770,000 from HK$548,000 in 2024, mainly due to costs associated with the bottled mineral water business[17]. - Administrative expenses decreased to approximately HK$11,243,000 from HK$13,679,000 in 2024, attributed to lower legal and professional fees and staff costs[18]. Assets and Liabilities - The Group's total assets as of 30 September 2025 were approximately HK$1,386.256 million, financed by current liabilities of approximately HK$211.061 million and non-current liabilities of HK$Nil[136]. - Current liabilities decreased to HK$211,061,000 from HK$224,857,000, indicating improved liquidity management[189]. - Net current assets increased to HK$70,577,000, up from HK$50,606,000, reflecting a stronger financial position[189]. Investments and Acquisitions - The Group entered into an acquisition agreement for office premises and an underground car park in Beijing for approximately RMB220,000,000, with RMB200,000,000 already paid as a deposit[73]. - The Group has completed acquisitions of Jiuyuan and Jinhao, aiming to invest in the natural resources industry in the PRC[104]. - The Group entered into a second acquisition agreement for additional property at a consideration of approximately RMB65,100,000 (equivalent to approximately HK$81,400,000) for 30 units in Jinma Creative Industry Park, totaling approximately 5,400 square meters[94]. Market Conditions - The overall economy in the PRC remains stagnant, impacting the Group's core businesses due to challenges such as a downturn in the property market and low consumer demand[29]. - The Group has faced challenges in selling remaining unsold units in Phase I due to unfavorable market conditions, prompting a conservative approach to property development[70]. Employment and Staff Costs - As of September 30, 2025, the Group employed approximately 67 employees in Hong Kong and the PRC, a decrease from 73 employees in 2024[149]. - Total staff costs for the reporting period amounted to approximately HK$4,787,000, down from HK$7,301,000 in 2024, reflecting a reduction of about 34.6%[149]. Legal and Compliance - The audit committee has reviewed the unaudited interim financial statements for the six months ended September 30, 2025, and found them compliant with applicable accounting standards[181]. - The Company has complied with all applicable provisions of the Corporate Governance Code except for the lack of insurance cover for Directors since May 21, 2018[172]. Future Outlook - The Group remains optimistic about the long-term economic development in the PRC, expecting stable demand for water products and properties[103]. - The Group is actively seeking diversified financing solutions to cover infrastructure investments for Jinhao Mine, which require tens of millions of RMB[52].
中加国信(00899) - 2026 - 中期财报