Financial Performance - The company reported revenue of HKD 75,764,000 for the six months ended September 30, 2025, compared to HKD 18,143,000 for the same period in 2024, representing a growth of 318%[3] - Gross profit for the same period was HKD 27,304,000, up from HKD 5,932,000, indicating a significant increase in profitability[3] - Operating profit for the period was HKD 5,985,000, a turnaround from an operating loss of HKD 15,214,000 in the previous year[3] - The net profit for the period was HKD 6,522,000, compared to a net loss of HKD 16,405,000 in the prior year[4] - The group reported a total operating profit of HKD 5,985,000 for the six months ended September 30, 2025, compared to an operating loss of HKD 15,214,000 in the same period of 2024[16] - The group achieved a profit before tax of HKD 5,931,000 for the six months ended September 30, 2025, a turnaround from a loss of HKD 16,548,000 in the same period of 2024[21] - The company reported a profit attributable to owners of HKD 6,064,000 for the six months ended September 30, 2025, compared to a loss of HKD 16,405,000 in the same period of 2024[25] Assets and Liabilities - The company's total assets increased to HKD 371,959,000 as of September 30, 2025, up from HKD 346,951,000 as of March 31, 2025[5] - Current liabilities rose to HKD 96,876,000 from HKD 80,801,000, reflecting an increase in operational obligations[5] - The group’s total liabilities were HKD 100,941,000 as of September 30, 2025, compared to HKD 85,247,000 as of March 31, 2025, indicating an increase in financial obligations[17] - The company’s equity attributable to owners increased to HKD 269,483,000 from HKD 261,704,000, showing a positive trend in shareholder value[6] - The net trade receivables increased to HKD 99,909,000 as of September 30, 2025, from HKD 60,898,000 as of March 31, 2025[33] - The total trade and other payables amounted to HKD 78,155,000 as of September 30, 2025, compared to HKD 68,156,000 as of March 31, 2025[36] Revenue Segmentation - The wholesale business generated revenue of HKD 46,648,000, while the drone business contributed HKD 28,077,000, indicating strong performance in both segments[16] - Revenue from the wholesale business increased from approximately HKD 12,700,000 to approximately HKD 46,600,000, representing a growth of approximately HKD 33,900,000 (267%) during the reporting period[49] - Revenue from the drone business reached approximately HKD 28,100,000, up by approximately HKD 23,800,000 (553%) compared to HKD 4,300,000 in the previous period[49] Expenses and Costs - The cost of goods sold for the six months ended September 30, 2025, was HKD 48,227,000, significantly higher than HKD 12,069,000 in the previous year, reflecting increased sales volume[21] - Sales and distribution expenses decreased by 15% to approximately HKD 5,700,000 from approximately HKD 6,700,000 in the previous period, primarily due to the termination of exclusive distribution rights for certain watch product lines[51] - The group’s employee costs totaled HKD 5,338,000 for the six months ended September 30, 2025, slightly lower than HKD 5,640,000 in the same period of 2024[22] - Administrative expenses decreased by 18% from approximately HKD 15,700,000 to about HKD 12,800,000 during the reporting period[52] - Financial expenses decreased by 96% from approximately HKD 1,300,000 to about HKD 54,000 due to a reduction in bank borrowings[58] Cash and Liquidity - The company’s cash and cash equivalents decreased to HKD 17,400,000 from HKD 33,065,000, indicating a reduction in liquidity[5] - Cash and bank balances totaled approximately HKD 17,400,000 as of September 30, 2025, down from HKD 33,100,000 as of March 31, 2025[60] - Bank borrowings amounted to approximately HKD 5,400,000 as of September 30, 2025, compared to approximately HKD 600,000 as of March 31, 2025[61] - The current ratio as of September 30, 2025, was approximately 2.2, down from 2.3 as of March 31, 2025[62] Investments and Acquisitions - The group acquired property, plant, and equipment amounting to approximately HKD 1,721,000 for the six months ended September 30, 2025, an increase from approximately HKD 879,000 in 2024[30] - The company has not made any significant investments in the six months ending September 30, 2025[78] - There were no major acquisitions or disposals of subsidiaries or associates during the reporting period[73] Corporate Governance and Compliance - The company has complied with the corporate governance code as per the listing rules during the reporting period[80] - The audit committee reviewed and approved the interim financial results, ensuring compliance with applicable accounting standards[84] Future Plans and Strategies - The company plans to continue expanding its product offerings in consumer goods, including watches, apparel, and drones, as part of its growth strategy[7] - The company plans to monitor the performance of the property market in Hong Kong and China and consider restructuring its property portfolio when suitable opportunities arise[48] - The company’s drone business is supported by the introduction and implementation of the low-altitude economy in China, which is expected to create significant opportunities in the high-tech field[45] - The company has established two low-altitude economic education and training centers in Tonghua and Jining, providing drone technology training and aiming to cultivate talent in the low-altitude economy[46] Other Information - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[28] - There are no significant contingent liabilities or unresolved litigation as of September 30, 2025[76] - The company has no significant capital commitments as of September 30, 2025[75] - There were no repurchases, sales, or redemptions of the company's listed securities during the reporting period[79] - The group received government subsidies amounting to HKD 827,000 during the six months ended September 30, 2025, which contributed to overall income[19] - The fair value loss on investment properties was approximately HKD 4,026,000 for the six months ended September 30, 2025, compared to a loss of HKD 1,071,000 in 2024[31] - The fair value increase of financial assets amounted to HKD 462,000 for the six months ended September 30, 2025, compared to a decrease of HKD 67,000 in the previous year[19] - Deferred tax assets increased to HKD 591,000 for the six months ended September 30, 2025, from HKD 238,000 in 2024[24] - The company’s goodwill and other intangible assets showed a net book value of HKD 13,472,000 as of September 30, 2025[32]
龙翼航空科技(00918) - 2026 - 中期业绩