Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 279.607 million, a decrease of 13.5% compared to HKD 323.320 million for the same period in 2024[3] - Gross profit for the same period was HKD 54.217 million, representing a gross margin of 19.4%[3] - The net loss for the six months ended September 30, 2025, was HKD 8.134 million, an improvement from a net loss of HKD 15.367 million in the prior year[3] - The group experienced a pre-tax loss of HKD 7.303 million for the six months ended September 30, 2025, compared to a pre-tax loss of HKD 15.202 million for the same period in the previous year[15][18] - For the six months ended September 30, 2025, the company reported a loss attributable to shareholders of HKD 7,624,000, compared to a loss of HKD 14,785,000 for the same period in 2024[22] - Revenue decreased compared to the same period last year, but the pre-tax loss reduced by 52.0% to HKD 7,300,000 due to improved operational efficiency and cost control[38] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 438.418 million, down from HKD 468.428 million as of March 31, 2025[7] - Current liabilities decreased to HKD 151.837 million from HKD 174.245 million as of March 31, 2025[7] - As of September 30, 2025, the company's trade receivables amounted to HKD 65,141,000, a decrease from HKD 104,196,000 as of March 31, 2025[25] - As of September 30, 2025, the company's trade payables amounted to HKD 56,320,000, slightly down from HKD 57,487,000 as of March 31, 2025[26] - Cash level as of September 30, 2025, was HKD 252,400,000, up from HKD 240,500,000 on March 31, 2025, with bank borrowings totaling HKD 53,300,000[43] - The asset-to-liability ratio as of September 30, 2025, was 14.5%, indicating a stable financial position[43] Operational Efficiency - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[3] - The group focused on improving production efficiency and controlling operational costs, leading to a reduction in operational losses compared to the same period last year[31] - The company is enhancing its flexible manufacturing platform in Vietnam to alleviate supply chain pressures and adapt to changing demand[39] Market Performance - For the six months ended September 30, 2025, total revenue from Asia was HKD 162.839 million, North America HKD 101.087 million, and Europe & Others HKD 15.681 million, totaling HKD 279.607 million[15] - Sales in the North American market decreased by 23.3% to HKD 101,100,000, accounting for 36.2% of the group's total revenue, with sales in the U.S. market representing 73.7% of this segment[32] - Sales in the Asian market decreased by 8.4% to HKD 162,800,000, contributing 58.2% to the group's total revenue, primarily due to an 8% decline in sales to the Chinese market, which generated HKD 151,300,000[35] - Sales to domestic brand customers in China decreased by 11.5% to HKD 43,000,000, reflecting the impact of the ongoing economic slowdown and low consumer confidence[35] - The group's retail sales in China slightly declined by 6.4% to HKD 108,100,000, but the operating profit from its own retail business increased by 31.3% to HKD 4,200,000[36] Employee and Administrative Expenses - Employee benefits expenses totaled HKD 63.797 million for the six months ended September 30, 2025, an increase from HKD 53.631 million in the previous year[18] - Administrative expenses increased by 5.4% to HKD 38,800,000, mainly due to unfavorable foreign exchange movements amounting to approximately HKD 1,900,000 compared to the same period last year[38] - The group employed approximately 1,400 employees as of September 30, 2025, down from 1,500 on March 31, 2025[49] Corporate Governance - The company’s auditor issued a report with an unqualified opinion for the financial statements for the year ending March 31, 2025[10] - The audit committee, including three independent non-executive directors, reviewed the group's accounting policies and financial reporting matters[51] - The company adhered to all corporate governance codes as stipulated by the Hong Kong Stock Exchange during the period[52] - All directors confirmed compliance with the standards for securities trading throughout the period[53] Sustainability and Compliance - The group implemented sustainable development practices and ensured compliance with environmental regulations across its manufacturing and retail operations[30] - The company maintains a prudent financial policy to hedge against currency and interest rate risks, considering foreign exchange impacts in its contracts[46] 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[21][28] - The average number of ordinary shares in issue for the calculation of basic and diluted loss per share remained at 451,067,557 shares[22]
同得仕(集团)(00518) - 2026 - 中期业绩