Financial Performance - For the six months ended September 30, 2025, the group's revenue decreased by 18.7% to HKD 137.5 million from HKD 169.1 million in the same period of 2024[13]. - The gross profit for the same period fell by 36.2%, dropping to HKD 18.0 million from HKD 28.2 million, primarily due to price reductions aimed at attracting customers[13]. - Revenue from the travel group decreased by 18.7% to HKD 137.5 million, and gross profit decreased by 36.2% to HKD 18 million for the six months ended September 30, 2025, compared to the same period in 2024[17]. - Revenue from travel-related products and services decreased by 30% to approximately HKD 1.4 million for the six months ended September 30, 2025, primarily due to a decline in sales of one-day tours in Japan[19]. - Retail business revenue dropped significantly from HKD 9.3 million to HKD 0.5 million for the six months ended September 30, 2025, following the decision to terminate retail operations[20]. - The company's loss increased by 549% to approximately HKD 3.8 million for the six months ended September 30, 2025, compared to the same period in 2024[23]. - The company reported a loss before tax of HKD 3,815,000 for the six months ended September 30, 2025, compared to a loss of HKD 588,000 for the same period in 2024[74]. - The total comprehensive loss for the six months ended September 30, 2025, was HKD 3,788, compared to a loss of HKD 533 in the previous period[54]. - The net loss attributable to the owners of the company for continuing operations was HKD 3,903,000, compared to a loss of HKD 167,000 in the prior year[52]. - Operating loss increased to HKD 3,824,000 from HKD 52,000 in the previous year, indicating a significant decline in operational performance[51]. Business Strategy and Outlook - The company remains confident that tourism to Japan will eventually recover and believes in the potential for growth in its outbound travel, sightseeing, and hotel businesses[14]. - The company plans to explore various opportunities to diversify its business portfolio to broaden revenue sources and enhance future profitability[14]. - The group continues to focus on the design, development, and sale of travel packages, including free travel products and related services[15]. - The company is also investing in tourism and travel technology-related businesses as part of its growth strategy[15]. - The company aims to diversify its business in other industries to expand revenue and income sources[38]. Expenses and Cost Management - Total sales expenses decreased by 39.6% to approximately HKD 9.5 million for the six months ended September 30, 2025, mainly due to reduced advertising and employee welfare expenses[21]. - Administrative expenses decreased by 6.2% to approximately HKD 16.4 million for the six months ended September 30, 2025, primarily due to a reduction in depreciation of right-of-use assets[22]. - Employee benefits expenses for the six months ended September 30, 2025, amounted to approximately HKD 16.0 million, compared to HKD 19.7 million for the same period in 2024[33]. - The total remuneration for key management personnel increased to HKD 1,698,000 for the six months ended September 30, 2025, compared to HKD 1,342,000 in the prior year[114]. Financial Position and Ratios - The current ratio as of September 30, 2025, was 1.7 times, unchanged from March 31, 2025[23]. - The debt-to-asset ratio increased from 1.9% as of March 31, 2025, to 3.1% as of September 30, 2025, due to an increase in amounts payable to non-controlling shareholders[25]. - Total assets as of September 30, 2025, were HKD 110,887,000, a slight increase from HKD 108,363,000 as of March 31, 2025[53]. - The company's equity totalled HKD 52,129,000, up from HKD 51,829,000, indicating a slight improvement in financial stability[53]. - The total issued and paid-up share capital increased to HKD 8,167,000 as of September 30, 2025, following the issuance of 136,119,000 shares at a subscription price of HKD 0.0306 per share[106]. Shareholder and Capital Information - The company issued 136,119,000 new ordinary shares at a subscription price of HKD 0.0306 per share on August 22, 2025, raising approximately HKD 4 million to support promotional activities in the travel industry[23]. - Major shareholders include ASPECT, Inc. with 136,119,000 shares (16.67%) and Zonghengyou Investment Holdings Limited with 100,000,000 shares (12.24%) as of September 30, 2025[43]. - The company has approximately HKD 4.16 million of unutilized proceeds from share subscriptions deposited in a licensed bank in Hong Kong as of September 30, 2025[35]. Cash Flow and Investments - The net cash flow from operating activities for the six months ended September 30, 2025, was HKD (3,076), compared to HKD 9,905 for the same period in 2024[56]. - The company reported a net cash inflow from financing activities of HKD 4,092 for the six months ended September 30, 2025, compared to a net outflow of HKD (1,469) in the previous year[56]. - The total cash and cash equivalents at the end of the period increased to HKD 72,532 from HKD 71,502 at the beginning of the period[56]. - The company’s investment activities resulted in a net cash inflow of HKD 14 for the six months ended September 30, 2025, compared to a net outflow of HKD (750) in the previous year[56]. Corporate Governance and Compliance - The company has complied with all corporate governance code provisions for the six months ended September 30, 2025[48]. - The board of directors does not recommend the payment of an interim dividend for the six months ended September 30, 2025, maintaining a policy to retain cash for operational needs and future development[37]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[88]. Risk Management - The company continues to evaluate its foreign exchange risk management procedures to minimize exposure to currency fluctuations[32]. - The group did not incur any taxable profits in Hong Kong for the six months ended September 30, 2025, resulting in no provision for Hong Kong profits tax[82].
飞道旅游科技(08069) - 2026 - 中期业绩