Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 204,253,000, a decrease of 14.5% compared to HKD 238,901,000 for the same period in 2024[4] - Gross profit for the same period was HKD 96,031,000, down 9.4% from HKD 106,041,000 in 2024[4] - The company reported a loss before tax of HKD 40,384,000, an improvement from a loss of HKD 48,075,000 in the previous year, indicating a 16.5% reduction in losses[5] - Total comprehensive loss for the period was HKD 38,767,000, compared to a loss of HKD 44,784,000 in 2024, reflecting a 13.5% improvement[5] - The adjusted loss before tax for the six months ending September 30, 2025, was HKD 40,384,000, compared to an adjusted loss of HKD 48,075,000 for the same period in 2024, reflecting an improvement of approximately 16.5%[20] - The company reported a net loss of HKD 40,452,000 for the six months ending September 30, 2025, compared to a net loss of HKD 48,698,000 for the same period in 2024[29] Revenue Breakdown - Revenue from cosmetics sales was HKD 150,720,000, while women's fashion sales contributed HKD 53,533,000, indicating that cosmetics accounted for approximately 73.7% of total revenue[18] - The cosmetics business generated revenue of HKD 150,720,000, a decline of 15.7% from HKD 178,701,000 in the previous year, with a segment loss of HKD 13,454,000[31] - The fashion business recorded revenue of HKD 53,533,000, down 11.1% from HKD 60,200,000 year-on-year, with a segment loss of HKD 12,705,000[32] Asset and Liability Management - Non-current assets as of September 30, 2025, totaled HKD 605,123,000, a decrease from HKD 629,042,000 as of March 31, 2025[6] - Current liabilities increased to HKD 314,667,000 from HKD 303,875,000, indicating a rise in financial obligations[6] - The net asset value decreased to HKD 40,537,000 from HKD 79,277,000, indicating a significant reduction in equity[7] - The group’s outstanding bank borrowings amounted to HKD 205,422,000, up from HKD 178,095,000 as of March 31, 2025[37] - The current ratio as of September 30, 2025, was 0.53, down from 0.60 on March 31, 2025, indicating a decline in short-term liquidity[37] - The debt-to-equity ratio increased to 5.07 from 2.25 as of March 31, 2025, reflecting a higher level of leverage[37] Cash Flow and Financing - The company has not utilized bank credit facilities amounting to HKD 42,704,000 as of September 30, 2025, highlighting liquidity management efforts[9] - The company is actively negotiating the renewal of existing bank credit and external financing to ensure operational funding for at least the next 12 months[9] - The company’s financing costs for the six months ending September 30, 2025, were HKD 10,836,000, compared to HKD 16,223,000 for the same period in 2024, showing a reduction of approximately 33.3%[20] - The group had bank credit facilities of HKD 250,567,000 as of September 30, 2025, compared to HKD 241,767,000 on March 31, 2025[38] - The group provided guarantees of HKD 262,600,000 for bank credit facilities as of September 30, 2025, an increase from HKD 252,600,000 on March 31, 2025[41] Operational Adjustments - The company has implemented measures to mitigate cash outflows and enhance operational cash flow sensitivity in light of potential risks[9] - The company aims to negotiate reasonable rents and strategically adjust its retail network, with 66 store leases set to expire between November 2025 and October 2026, representing 69% of all store leases[33] - The company plans to enhance its product offerings and improve customer service to increase overall revenue and gross margin[34] - The company will continue to focus on its core retail business while implementing cost control measures and targeted sales strategies to restore profitability[36] Employee and Asset Management - The group employed approximately 730 employees as of September 30, 2025, down from about 850 employees on March 31, 2025[42] - The group had pledged assets amounting to HKD 465,960,000 for general bank credit as of September 30, 2025, a slight decrease from HKD 473,006,000 on March 31, 2025[40] - The total value of the company's investment properties was estimated at HKD 692,324,000 as of September 30, 2025, with unencumbered property valued at approximately HKD 101,957,000[35] Audit and Compliance - The audit committee reviewed the unaudited results for the six months ended September 30, 2025, which were not reviewed by the independent auditor[47] - The company did not purchase, sell, or redeem any of its listed securities during the six-month period ending September 30, 2025[43]
威高国际(01173) - 2026 - 中期业绩