Financial Performance - For the six months ended September 30, 2025, the revenue was approximately HKD 15,126,000, a decrease of 30% compared to HKD 21,722,000 in the same period last year[4]. - The profit attributable to the owners of the company for the same period was approximately HKD 37,251,000, compared to a loss of HKD 2,557,000 in the previous year[4]. - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2025, consistent with the previous year[4]. - The overall digital advertising market in China faced significant headwinds, with weak consumer spending and economic uncertainty impacting marketing budgets[6]. - The real estate market in China continued to show negative growth, affecting the company's advertising revenue from property-related clients[9]. - The company expects a challenging operating environment for the remainder of 2025 and into 2026, with weak consumer confidence and geopolitical risks impacting traditional business sectors[16]. - The company reported a profit of HKD 35,830,000 for the six months ended September 30, 2025, compared to a loss of HKD 3,800,000 in the previous period[32]. - Total comprehensive loss for the period amounted to HKD 37,691,000, a significant increase from a loss of HKD 1,333,000 in the prior year[32]. - The company reported a total comprehensive loss of HKD (1,887,000) for the six months ended September 30, 2024, compared to a loss of HKD (234,000) for the same period in 2025, reflecting a year-over-year improvement[48]. Revenue Segments - The smart advertising segment generated revenue of approximately HKD 14,818,000 for the six months ended September 30, 2025[10]. - The agricultural products and consumer goods segment did not generate any revenue during the same period[11]. - The supply chain business did not generate any revenue for the six months ended September 30, 2025[13]. - Revenue for mobile advertising media services decreased to HKD 14,818 thousand in the six months ended September 30, 2025, down from HKD 20,943 thousand in the same period of 2024, representing a decline of approximately 29.5%[40]. - Total revenue for the six months ended September 30, 2025, was HKD 15,126 thousand, compared to HKD 21,722 thousand in 2024, indicating a decrease of about 30.4%[40]. Asset Management - As of September 30, 2025, the company's cash and bank deposits were approximately HKD 2,573,000, a decrease of about 63.56% from HKD 7,061,000 on March 31, 2025[21]. - The company maintains a prudent treasury policy to ensure sufficient cash for expected expenditures and to provide reasonable buffers for emergencies[22]. - The company's asset-to-equity ratio as of September 30, 2025, was 56.88%[25]. - Non-current assets totaled HKD 32,767,000, while current assets were HKD 43,556,000, indicating a decrease in total assets from HKD 96,968,000[33]. - Current liabilities decreased to HKD 39,794,000 from HKD 160,919,000, reflecting improved liquidity management[33]. - The company has a net current asset/liability position of HKD 3,762,000, a significant improvement from a net liability of HKD 63,951,000[33]. - The company’s equity attributable to owners was HKD 17,311,000, a decrease from HKD 27,773,000, indicating a decline in shareholder value[34]. Strategic Initiatives - The company is actively seeking investment opportunities in the NEV (New Energy Vehicle) industry and high-tech consumer products[12]. - The company is evaluating strategic opportunities in traditional Chinese medicine and health products[11]. - The successful sale of the property has strengthened the company's financial position and provided additional flexibility to explore new investment opportunities[16]. - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future growth prospects[34]. - The sale of subsidiaries is part of the company's strategy to streamline operations and focus on core business areas[80]. - The company aims to enhance shareholder value through strategic divestitures and effective management of its asset portfolio[82]. Employee and Governance - The company employed approximately 70 staff members as of September 30, 2025, down from 91 employees as of March 31, 2025[27]. - The company plans to continue investing in employee welfare, including medical insurance and retirement benefits[27]. - The company has applied the corporate governance code as per the GEM Listing Rules during the six months ending September 30, 2025[93]. - The board consists of three executive directors and three independent non-executive directors, responsible for reviewing and implementing the company's strategies and policies[102]. - The audit committee, composed of three independent non-executive directors, regularly meets with senior management to review the effectiveness of internal control systems and financial reporting[104]. Stock Options and Share Capital - The company has a stock option plan that allows for the issuance of up to 236,893,600 shares, equivalent to 10% of the issued shares as of the adoption date[86]. - The stock option plan is effective for a period of ten years from August 3, 2012, and allows for the granting of options to eligible participants[84]. - The maximum number of shares that can be issued under the stock option plan after the share consolidation is capped at 23,689,360 shares[86]. - The company’s stock options can be granted to senior management, employees, business partners, contractors, and consultants[87]. - As of September 30, 2025, the company has 11,700,000 stock options that remain unexercised and are set to expire on May 13, 2025[88]. - The weighted average exercise price for the stock options granted in the fiscal year 2022 is HKD 0.23549, with a total of 400,000 options granted[89]. - The company’s issued and fully paid ordinary shares remained at 332,270,000 as of September 30, 2025[76]. Cash Flow and Investments - Net cash used in operating activities for the six months ended September 30, 2025, was HKD 33,230 thousand, compared to a net cash outflow of HKD 3,180 thousand in 2024[36]. - The net cash used in investing activities was HKD 36,078 thousand for the six months ended September 30, 2025, compared to HKD 342 thousand in 2024[36]. - The company reported a gain from the sale of subsidiaries amounting to HKD 36,117,000 for the six months ended September 30, 2025, compared to HKD 408,000 for the same period in 2024[48]. - The company agreed to sell its subsidiary, 金略集团, for a cash consideration of HKD 1.00, with net liabilities of HKD 43,467,000 at the time of sale[80]. - The sale of 飞邁国际控股有限公司 was completed for a cash consideration of HKD 22,500,000, with net assets of HKD 52,000 at the time of sale, resulting in a loss of HKD 29,000[82]. - The company sold 萃和集团 for HKD 80,000,000, with net cash and cash equivalents of HKD 21,000 and other liabilities of HKD 18,000, resulting in a net cash inflow of HKD 79,000[83]. Shareholder Information - As of September 30, 2025, Zhao Xinyan holds 1,750,000 shares, representing 14.78% of total shares[109]. - Wu Meiqi owns 33,792,000 shares, accounting for 10.17% of total shares[109]. - The total number of shares held by Zhao Xinyan through Zansheng Limited is 47,378,000, which is 14.25% of the issued share capital[113]. - Gold City Assets Holdings Ltd., beneficially owned by Wu Meiqi, holds 33,792,000 shares, also 10.17% of the total[113]. - Lin Shunping holds 19,900,000 shares, representing 5.99% of the total issued shares[113]. - The company did not repurchase any shares during the six months ending September 30, 2025[115]. - There are no reported conflicts of interest among directors or major shareholders as of September 30, 2025[114]. - The company maintains sufficient public float as required by GEM listing rules[117].
世大控股(08003) - 2026 - 中期业绩