Financial Performance - For the six months ended September 30, 2025, the company reported revenue of HKD 19,036,000, a significant increase of 161.5% compared to HKD 7,296,000 for the same period in 2024[5] - The gross profit for the same period was HKD 5,745,000, representing a gross margin of approximately 30.2%, compared to HKD 2,185,000 in 2024[5] - The operating loss decreased to HKD 3,412,000 from HKD 5,498,000 year-over-year, indicating an improvement in operational efficiency[5] - The net loss for the period was HKD 3,433,000, a reduction from HKD 5,503,000 in the previous year, reflecting a 37.5% improvement[5] - Revenue from interior design and execution services was HKD 18,930,000 for the six months ended September 30, 2025, up from HKD 7,296,000 in 2024, indicating a growth of 159%[14] - The group reported a net loss attributable to shareholders of HKD 3,433,000 for the six months ended September 30, 2025, compared to a net loss of HKD 5,503,000 in 2024, showing an improvement of 38%[24] - Interest income increased to HKD 267,000 for the six months ended September 30, 2025, compared to HKD 205,000 in 2024, marking an increase of 32%[19] - The pre-tax loss for the six months ending September 30, 2025, is approximately HKD 3.4 million, a reduction of HKD 2.1 million or 37.6% from the previous period's loss of approximately HKD 5.5 million, driven by revenue growth in the Chinese market[55] Assets and Liabilities - The company's total assets as of September 30, 2025, were HKD 44,591,000, compared to HKD 39,845,000 as of March 31, 2025, showing a growth of 12%[6] - Cash and cash equivalents increased to HKD 6,369,000 from HKD 3,161,000, representing a 101.5% increase in liquidity[6] - The company's current liabilities rose to HKD 19,097,000 from HKD 10,855,000, indicating a 75.5% increase, which may impact short-term financial stability[6] - The net asset value decreased to HKD 25,347,000 from HKD 28,781,000, reflecting a decline of 11.3%[6] - Trade receivables increased to HKD 7,247,000 as of September 30, 2025, from HKD 4,841,000 as of March 31, 2025, with a provision for impairment loss of HKD 452,000[35] - The total amount of loans receivable remained stable at HKD 7,700,000 as of September 30, 2025, with accrued interest of approximately HKD 193,000[30] - The group's total liabilities increased from HKD 2,756,000 as of March 31, 2025, to HKD 3,133,000 as of September 30, 2025[29] - The group's non-current assets increased to HKD 20,617,000 as of September 30, 2025, from HKD 20,257,000 as of March 31, 2025[29] Revenue Sources - The group generated HKD 12,901,000 in revenue from mainland China for the six months ended September 30, 2025, compared to HKD 496,000 in the same period of 2024, reflecting a substantial increase of 2,596%[18] - Revenue from the Hong Kong business was approximately HKD 6.1 million, a slight decrease of about HKD 0.7 million or 9.8% compared to HKD 6.8 million in the same period last year[47] - Revenue from the China market surged from approximately HKD 0.5 million in the previous year to HKD 12.9 million for the six months ended September 30, 2025, accounting for about 67.8% of total revenue[47] Operational Efficiency - The group’s employee benefit expenses decreased to HKD 5,833,000 for the six months ended September 30, 2025, down from HKD 7,325,000 in 2024, a reduction of 20%[22] - Service costs for the six months ending September 30, 2025, are approximately HKD 13.3 million, an increase of about HKD 8.2 million or 160.0% compared to the previous period[49] - Administrative expenses increased from approximately HKD 7.9 million to approximately HKD 9.2 million, a rise of about HKD 1.3 million or 16.4% due to new project-related administrative costs[53] - Financial costs surged from approximately HKD 1,000 to approximately HKD 6,000, a significant increase of about HKD 5,000 or 500.0% attributed to rising lease liabilities[54] - Trade and other payables increased significantly to approximately HKD 14.6 million from HKD 6.4 million, an increase of about HKD 8.2 million or 127.3% due to business expansion in the Chinese market[58] Corporate Governance and Compliance - The financial data is prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency in reporting[9] - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2025, but these did not have a significant impact on the unaudited condensed consolidated financial information for the six months ended September 30, 2025[10] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2025, confirming compliance with applicable accounting standards and regulations[88] - The company has adopted corporate governance practices based on GEM Listing Rules Appendix C1, ensuring compliance with all applicable regulations[86] Future Outlook and Strategy - The company continues to focus on providing interior design and execution services, with plans for market expansion and potential new product offerings in the future[8] - The company aims to maintain and strengthen its market position in Hong Kong while cautiously exploring opportunities in mainland China[45] - The company plans to enhance brand awareness and marketing efforts as part of its growth strategy[45] - The company continues to invest in business development in both Hong Kong and mainland China to further increase revenue contributions[48] Shareholder Information - Major shareholder Jun Tai Ting Investment holds 159,068,639 shares, representing 73.87% of total equity as of September 30, 2025[77] - The group has no significant contingent liabilities as of September 30, 2025[40] - The group did not declare any dividends for the six months ended September 30, 2025, consistent with the previous year[23] - The company did not recommend any dividend payment for the six months ending September 30, 2025[80] Employment and Workforce - The group had 25 employees as of September 30, 2025, down from 37 employees as of March 31, 2025[74] - The total employee cost for the six months ending September 30, 2025, was approximately HKD 5.8 million, down from HKD 7.3 million for the same period in 2024[74] Miscellaneous - The board approved the unaudited condensed consolidated financial information for the six months ended September 30, 2025, on November 26, 2025[42] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ending September 30, 2025[66] - The company has not purchased, sold, or redeemed any listed securities during the six months ending September 30, 2025[83] - The company is currently seeking suitable candidates to fill the vacancies left by the resignation of Ms. Tang Yuying as an independent non-executive director and chair of the remuneration committee, which has resulted in non-compliance with GEM listing rules[89] - The mid-term report for the fiscal year 2025/2026 will be published in accordance with GEM listing rules and will be available on the Hong Kong Stock Exchange website and the company's website[90]
客思控股(08173) - 2026 - 中期业绩