Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 118,947,000, a decrease of 24.6% compared to HKD 157,836,000 for the same period in 2024[5] - Gross profit for the same period was HKD 25,341,000, down 16.0% from HKD 30,137,000 in 2024[5] - The net profit for the period was HKD 9,247,000, representing a decline of 16.0% from HKD 11,004,000 in the previous year[5] - Basic and diluted earnings per share decreased to HKD 2.31 from HKD 2.75, reflecting a 16.0% drop[7] - For the six months ended September 30, 2025, the company reported a profit of HKD 9,248,000, compared to a profit of HKD 11,006,000 for the same period in 2024, representing a decrease of 16%[10] - Profit before tax for the six months ended September 30, 2025, was HKD 9,248,000, down 16.0% from HKD 11,006,000 in 2024[34] - Net profit for the period was approximately HKD 9.2 million, down from about HKD 11.0 million, mainly due to revenue decline offset by cost reduction measures[54] Assets and Liabilities - Total assets as of September 30, 2025, amounted to HKD 359,787,000, an increase from HKD 341,113,000 as of March 31, 2025[8] - Non-current assets totaled HKD 140,703,000, slightly down from HKD 141,934,000[8] - The company’s total equity increased to HKD 343,469,000 from HKD 334,226,000, reflecting a growth of 2.4%[9] - Total equity attributable to owners increased to HKD 344,839,000 as of September 30, 2025, up from HKD 306,854,000 as of September 30, 2024, reflecting a growth of 12.4%[10] - Trade receivables as of September 30, 2025, totaled HKD 59,546,000, an increase from HKD 50,535,000 as of March 31, 2025[41] - Trade payables as of September 30, 2025, amounted to HKD 227,000, slightly up from HKD 207,000 as of March 31, 2025[42] Inventory and Cash Flow - Inventory increased significantly to HKD 216,640,000 from HKD 121,214,000, indicating a rise of 78.8%[8] - The company experienced a substantial increase in inventory, which rose by HKD 95,426,000, compared to an increase of HKD 31,570,000 in the previous year, indicating a significant change in inventory management[12] - Operating cash flow before changes in working capital decreased significantly to HKD 18,641,000 from HKD 23,054,000 year-on-year, a decline of 19.5%[11] - The net cash decrease for the period was HKD 124,551,000, compared to a decrease of HKD 4,869,000 in the same period last year, highlighting a significant cash flow challenge[12] Financing and Costs - The company reported a financing cost of HKD 3,171,000, down 32.1% from HKD 4,673,000 in the previous year[5] - New bank borrowings raised during the period amounted to HKD 120,711,000, compared to HKD 74,976,000 in the previous year, showing an increase of 60.9%[12] - Financing costs decreased to HKD 3,171,000 in 2025 from HKD 4,673,000 in 2024, a reduction of 32.1%[30] - Cost of sales reduced by approximately 26.7% from about HKD 127.7 million to approximately HKD 93.6 million, directly related to the decline in revenue[46] - Operating expenses for sales and distribution decreased from about HKD 6.9 million to approximately HKD 5.8 million, attributed to cost reduction measures[50] - Administrative expenses decreased from about HKD 5.9 million to approximately HKD 5.4 million, mainly due to reduced depreciation and ongoing cost efficiency measures[51] Corporate Governance and Compliance - The company is committed to maintaining high levels of corporate governance and has adopted all applicable principles of the GEM Listing Rules corporate governance code[88] - The company has confirmed compliance with the trading standards for all directors during the reporting period[87] - The Audit Committee was established on December 18, 2017, and consists of three independent non-executive directors, with Mr. Liu Jianwei serving as the chairman[91] - The Audit Committee reviewed the unaudited consolidated performance of the group for the period and confirmed compliance with applicable accounting standards and GEM listing rules[92] Market and Business Strategy - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[5] - The group is actively seeking additional business opportunities, including expanding its alcoholic beverage product portfolio and providing marketing services for brand owners[69] - The group believes that its public listing on the GEM enhances its creditworthiness and bargaining power with suppliers[68] Shareholder Information - The major shareholder, Ms. Wang Zilu, holds a 70% stake in the company through Shirz Limited, which owns 280 million shares[72] - The company’s major shareholder, Ms. Wang Zilu, holds a 70% stake in the company as of the report date[82] - The company has a stock option plan that allows for the issuance of a total of 40,000,000 shares, representing 10% of the company's issued share capital as of the report date[84] Other Information - The company has not applied any new or revised Hong Kong Financial Reporting Standards that have been issued but not yet effective during the period[17] - The company has not disclosed any interests in competing businesses by its directors or major shareholders during the reporting period[86] - There are no post-reporting period events as of the report date[66] - The report will be published on the Hong Kong Stock Exchange website for at least seven days from the publication date[93]
威扬酒业控股(08509) - 2026 - 中期财报