Financial Performance - Revenue for the six months ended September 30, 2025, decreased by 49.7% to HKD 77.9 million from HKD 154.9 million for the same period in 2024[2] - Gross profit for the six months ended September 30, 2025, fell by 63.5% to HKD 19.0 million, with a gross margin decrease of 9.2 percentage points to 24.4%[2] - Profit attributable to equity holders for the six months ended September 30, 2025, decreased by 79.5% to HKD 4.7 million, with a profit margin decline of 8.8 percentage points to 6.0%[2] - Earnings per share for the six months ended September 30, 2025, was HKD 0.4, down from HKD 1.8 for the same period in 2024[2] - The company reported revenue of HKD 77,885 thousand for the six months ended September 30, 2025, compared to HKD 154,860 thousand for the same period in 2024, indicating a decline of approximately 49.7%[15] - The company’s total revenue for the six months ended September 30, 2025, was HKD 77,885 thousand, down from HKD 154,860 thousand in 2024, reflecting an overall decline of approximately 49.7%[15] - For the six months ended September 30, 2025, the total expenses amounted to HKD 79,617,000, compared to HKD 132,634,000 for the same period in 2024, representing a decrease of approximately 40%[18] - The income tax expense for the six months ended September 30, 2025, was HKD 1,208,000, a significant decrease from HKD 6,679,000 in the same period of 2024, indicating a reduction of about 82%[20] - Basic earnings per share for the six months ended September 30, 2025, were HKD 0.4, down from HKD 1.8 in the same period of 2024, reflecting a decline of approximately 78%[22] - The company reported a net profit attributable to shareholders of HKD 22,946,000 for the six months ended September 30, 2025, compared to HKD 4,745,000 in 2024, showing an increase of about 384%[22] Assets and Liabilities - Total assets decreased from HKD 496,167 thousand as of March 31, 2025, to HKD 468,236 thousand as of September 30, 2025, representing a decline of approximately 5.6%[5] - Current assets increased significantly from HKD 317,258 thousand to HKD 266,298 thousand, a decrease of about 16.1%[5] - Total liabilities rose from HKD 42,871 thousand to HKD 52,714 thousand, indicating an increase of approximately 23.1%[7] - The company's equity decreased from HKD 454,331 thousand to HKD 415,522 thousand, reflecting a decline of about 8.5%[7] - Cash and cash equivalents decreased from HKD 317,258 thousand to HKD 266,298 thousand, a reduction of approximately 16.1%[5] - Trade payables increased from HKD 18,161 thousand to HKD 28,877 thousand, showing an increase of about 59.0%[7] - The company reported a significant increase in inventories from HKD 22,888 thousand to HKD 29,327 thousand, an increase of approximately 28.1%[5] - Deferred tax liabilities decreased from HKD 9,244 thousand to HKD 8,410 thousand, a decline of about 9.0%[7] - The total equity attributable to owners remained stable at HKD 12,786 thousand[5] - The company’s total liabilities and equity amounted to HKD 468,236 thousand as of September 30, 2025[7] Revenue Sources - Revenue from personal care appliances was HKD 75,852 thousand for the six months ended September 30, 2025, down from HKD 151,411 thousand in the previous year, reflecting a decrease of about 50%[15] - Revenue by geographical location showed that the United States generated HKD 35,796 thousand in the six months ended September 30, 2025, compared to HKD 66,851 thousand in 2024, a decline of approximately 46.5%[16] - Revenue from Japan was HKD 27,746 thousand for the six months ended September 30, 2025, down from HKD 72,703 thousand in the previous year, representing a decrease of about 61.9%[16] - The company’s other major revenue source, categorized as "Others," generated HKD 2,033 thousand for the six months ended September 30, 2025, compared to HKD 3,449 thousand in 2024, a decrease of approximately 41.1%[15] - The company’s revenue from Europe was HKD 8,419 thousand for the six months ended September 30, 2025, compared to HKD 7,626 thousand in the previous year, indicating an increase of about 10.4%[16] Operational Strategy - The company continues to focus on the design, development, and manufacturing of personal care and lifestyle appliances as its core business strategy[14] - The company operates primarily under an Original Design Manufacturer (ODM) model, focusing on the design, development, and manufacturing of personal care and lifestyle electronic products[27] - The company is also committed to developing and selling its own brand products under an Original Brand Manufacturer (OBM) model[27] - The company faced significant pressure to reduce product prices due to intense internal market competition and strong demands from customers[28] - The company’s hair care product sales and average selling prices have decreased compared to the previous year, influenced by trade tariffs imposed by the U.S. on Chinese imports[29] - A major U.S. customer adopted a conservative purchasing strategy, leading to a significant decline in sales of hair care products to that customer[29] - A key Japanese customer did not place orders for a major hair dryer model due to the introduction of a new model in the Japanese market[29] - The company is actively expanding into new geographical markets and has successfully developed two new customers, with sales expected to begin in the second half of the 2026 fiscal year[33] - The company plans to enhance operational resilience by promoting production automation and standardization measures to reduce labor costs[34] - The company is committed to enhancing the competitiveness of its high-quality products and strengthening its R&D capabilities to expand market share[35] Shareholder Information - As of September 30, 2025, Ace Champion Inc. holds 468,750,000 shares, representing approximately 36.67% of the company's issued share capital[58] - The beneficial ownership of Ace Champion Inc. is entirely held by Mr. Li Shuye, who is deemed to have an interest in the shares[58] - The total number of shares held by major shareholders includes 468,750,000 shares, which corresponds to a 36.67% ownership[61] - Ms. Xue Keyun also holds 468,750,000 shares, indicating a 36.67% beneficial interest[61] - Ms. Chen Panpan holds 471,565,000 shares, representing approximately 36.88% of the company's shares[61] - Mr. Lu Jianquan has a beneficial interest in 468,750,000 shares, equivalent to 36.67%[61] - The company has disclosed no additional interests or holdings by directors or senior management beyond those mentioned[59] - The beneficial ownership structure indicates significant concentration among a few key individuals and entities[60] Corporate Governance - The company has maintained compliance with all corporate governance codes during the reporting period, except for disclosed deviations[65] - The company has adopted a share option scheme to reward employees and directors for their contributions since August 21, 2020, but has not granted any options under this scheme as of September 30, 2025[70] - The company confirms that there have been no changes in director information that require disclosure under the listing rules during the reporting period[71] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[72] - The company has maintained the required public float as per the listing rules throughout the reporting period[74] - The company emphasizes that any forward-looking statements made cannot be guaranteed to be achieved or realized[76] - The company has established an audit committee consisting of three independent non-executive directors, ensuring compliance with listing rules and corporate governance standards[77] - The audit committee has reviewed the interim financial statements and confirmed they meet applicable accounting standards and listing rules[77] - The board expresses gratitude to shareholders, investors, employees, and business partners for their ongoing support[78]
科利实业控股(01455) - 2026 - 中期业绩