Financial Performance - For the six months ended September 30, 2025, the group's unaudited consolidated revenue was approximately HKD 76.5 million, an increase of about 139.8% compared to HKD 31.9 million for the same period in 2024[3] - The unaudited consolidated profit attributable to the owners of the company for the six months ended September 30, 2025, was approximately HKD 427,000, recovering from a loss of HKD 1.1 million in the same period of 2024[3] - Basic and diluted earnings per share for the six months ended September 30, 2025, were 0.09 HK cents, compared to a loss of 0.23 HK cents per share for the same period in 2024[3] - The total comprehensive income for the period was HKD 1.4 million, compared to HKD 982,000 for the same period in 2024[6] - The group reported a gross profit of HKD 33.7 million for the six months ended September 30, 2025, compared to HKD 27.0 million for the same period in 2024[5] - Operating profit for the period was HKD 3,778,000, compared to an operating loss of HKD 251,000 in the same period last year[19] - The net profit for the period was HKD 665,000, a turnaround from a net loss of HKD 1,104,000 in the previous year[19] Revenue Breakdown - Revenue from the art auction and related business was HKD 38,741,000, up from HKD 29,447,000, reflecting a growth of 31.5% year-over-year[19] - The art sales segment generated HKD 37,518,000, a substantial increase from HKD 2,444,000, indicating a growth of 1435.5%[19] - The gold and gold-related business contributed HKD 215,000, marking its first revenue recognition in this segment[19] - Total external customer revenue from Hong Kong was HKD 42,838,000, significantly up from HKD 14,399,000, while revenue from Japan increased to HKD 33,636,000 from HKD 17,492,000[22] Assets and Liabilities - Total assets as of September 30, 2025, amounted to HKD 453.6 million, an increase from HKD 394.9 million as of March 31, 2025[7] - Total liabilities as of September 30, 2025, were HKD 227.0 million, compared to HKD 170.4 million as of March 31, 2025[8] - The company experienced a significant increase in trade and other receivables, which rose to HKD 221.0 million as of September 30, 2025, from HKD 145.4 million as of March 31, 2025[7] - Trade receivables increased significantly to HKD 21,355,000 as of September 30, 2025, from HKD 10,679,000 as of March 31, 2025, with a net trade receivables amount of HKD 15,904,000[36] - The total trade and other receivables reached HKD 221,013,000 as of September 30, 2025, up from HKD 145,435,000 as of March 31, 2025[36] - Bank borrowings amounted to HKD 34,641,000 as of September 30, 2025, a decrease from HKD 37,327,000 as of March 31, 2025[43] - The company’s total liabilities included trade and other payables of HKD 183,574,000 as of September 30, 2025, compared to HKD 124,549,000 as of March 31, 2025[45] Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended September 30, 2025, consistent with the previous year[3] - The company did not declare or recommend any dividends for the six months ended September 30, 2025, consistent with the previous year[35] - The company’s weighted average number of ordinary shares remained constant at 500,000,000 shares for both periods[33] - The company has issued a total of 48,000,000 share options, with an exercise price of HKD 0.80 per share, which will expire by April 2029[76] - The company has entered into a placement agreement to issue up to 11,880,000 shares at a placement price of HKD 7.71 per share, which was completed on November 6, 2025[79] Expenses and Costs - Sales and distribution expenses were approximately HKD 13.1 million, reflecting an increase consistent with the rise in revenue during the reporting period[55] - Administrative expenses decreased by approximately 0.6% to about HKD 17.2 million, remaining stable compared to the previous year[56] - The company reported a net financial cost of HKD 308,000, slightly higher than HKD 301,000 in the previous year[26] - The income tax expense for the period was HKD 2,397,000, compared to HKD 440,000 in the same period last year, reflecting increased profitability in Japan[27] - The company incurred a foreign exchange loss of HKD 33,000, down from HKD 109,000 in the previous year[23] - The company recorded financial income of approximately HKD 49,000 and financial costs of approximately HKD 357,000 during the reporting period[57] Strategic Plans and Market Presence - The company plans to expand its market presence by establishing flagship stores and standard stores in high-traffic commercial areas across East Asia, Southeast Asia, and the Middle East[48] - The company aims to enhance its brand image and market share in the Chinese and Japanese art auction markets while diversifying its business scope[47] - The company aims to maintain stable growth and expand its global market presence by developing a dual business ecosystem of "Gold + Auction" to reduce reliance on a single business[80] - The company plans to enrich the variety of auction items to cater to diverse collector tastes while exploring valuable artworks for the auction market[80] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with its provisions during the reporting period[82] - The company has established a code of conduct for directors' securities trading, ensuring compliance with the standard code during the reporting period[83] - The audit committee has reviewed the unaudited interim consolidated financial information and found no objections to the accounting treatment adopted during the reporting period[84] Employee and Operational Information - As of September 30, 2025, the group had 36 full-time employees across Japan, Hong Kong, Taiwan, and China[72] - The group reported no significant capital commitments or major investments as of September 30, 2025[65][67] - The group had no contingent liabilities or guarantees provided to third parties as of September 30, 2025[66] - The group has adopted a cautious treasury policy, emphasizing risk control and relevant transactions related to its main business[68] Acknowledgments - The company expresses gratitude to shareholders, business partners, and employees for their support and efforts, looking forward to a successful 2025[86] - The company will distribute its interim report to shareholders in accordance with the listing rules[85]
上善黄金(01939) - 2026 - 中期业绩