Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 58,875,000, an increase of 6.6% compared to HKD 55,412,000 for the same period in 2024[3] - Other income for the same period was HKD 615,000, compared to HKD 4,725,000 in 2024, reflecting a significant decrease[3] - Cost of goods sold was HKD 30,311,000, up from HKD 26,206,000, indicating an increase of 19.9%[3] - Gross profit for the period was HKD 28,564,000, compared to HKD 29,206,000 in 2024, showing a slight decline[3] - Operating expenses totaled HKD 24,000,000, down from HKD 26,000,000, representing a decrease of 7.7%[3] - Profit before tax was HKD 3,620,000, down from HKD 5,892,000, a decline of 38.6%[3] - Net profit for the period was HKD 3,039,000, compared to HKD 4,995,000 in 2024, reflecting a decrease of 39.1%[3] - Basic earnings per share were HKD 1.07, down from HKD 1.76 in the previous year, a decline of 39.2%[3] - The company reported a total comprehensive income of HKD 3,039,000 for the period, compared to HKD 4,995,000 in 2024[3] Assets and Liabilities - Total assets decreased to HKD 177,971 million from HKD 177,142 million[5] - Non-current assets include investment properties valued at HKD 26,000 million and right-of-use assets at HKD 18,737 million[4] - Current assets increased to HKD 244,841 million, up from HKD 221,333 million, driven by cash and cash equivalents of HKD 1,085 million[4] - Trade receivables rose significantly to HKD 103,665 million from HKD 61,730 million, indicating strong sales performance[4] - Current liabilities increased to HKD 155,532 million from HKD 136,962 million, primarily due to trade payables[5] - The net value of current assets stands at HKD 89,309 million, compared to HKD 84,371 million previously[4] - Total equity remains stable at HKD 143,059 million, consistent with the previous period[5] - The company reported a significant increase in cash reserves, with bank deposits rising to HKD 1,085 million from HKD 1,377 million[4] - The company has a total of HKD 28,412 million in share capital, unchanged from the previous period[5] - Retained earnings increased to HKD 114,647 million from HKD 111,608 million, reflecting ongoing profitability[5] Revenue Breakdown - Revenue from ceramic tiles was HKD 52,197,000, up from HKD 38,753,000, indicating a growth of about 34.7% year-over-year[11] - Revenue from sanitary ware and other products decreased to HKD 6,438,000 from HKD 16,419,000, reflecting a decline of approximately 60.8%[11] - The total revenue from non-retail sales channels was HKD 41,855,000, compared to HKD 30,404,000 in the previous year, marking an increase of approximately 37.5%[11] - Revenue from Hong Kong for the six months ended September 30, 2025, was HKD 47,875,000, down from HKD 51,412,000 in 2024, showing a decline of approximately 6.5%[16] - Non-retail sales accounted for approximately 71.4% of total revenue from tile and sanitary ware sales, up from 55.1% in 2024[38] - Retail sales of tiles and sanitary ware decreased by approximately 32.3% to about HKD 16.8 million, down from approximately HKD 24.8 million in the previous year[40] - Non-retail sales revenue increased by approximately 37.7% to about HKD 41.9 million, compared to HKD 30.4 million in the same period last year[40] Strategic Initiatives - The company continues to explore new strategies for market expansion and product development to enhance future performance[2] - The group anticipates ongoing economic uncertainties and geopolitical tensions affecting consumer sentiment, prompting a focus on optimizing the product mix to adapt to changing market trends[65] - The group plans to expand into the Vietnamese market through electric vehicle trade and the installation of EV charging stations[65] - The group aims to develop a multi-model AI workflow system to enhance marketing efficiency, leveraging existing user behavior data and content assets[66] - The group has obtained a precious metals trading license to diversify revenue sources and stabilize financial performance[66] - The group will continue to strengthen partnerships with existing distributors and enterprise clients while expanding its distribution network in China[65] Corporate Governance - The company has adopted corporate governance practices to maintain high standards of business ethics and protect shareholder interests[69] - The audit committee, consisting of three independent non-executive directors, reviewed the financial information of the group and the relationship with external auditors[75] - The interim financial statements have been reviewed by the audit committee[76] - The company implemented a share option plan, granting 4,800,000 share options to executive directors at an exercise price of HKD 0.3 per share, representing 1.69% of the issued share capital as of September 30, 2025[73] - As of October 23, 2025, 4,800,000 share options were exercised, corresponding to 1.66% of the company's issued shares on that date[74] - Following the exercise of share options on October 28, 2025, the total number of issued shares increased from 284,117,000 to 288,917,000 shares[77] - The company has no significant contracts involving directors or major shareholders that could create conflicts of interest[67] Taxation and Expenses - The estimated taxable profit for the Macau subsidiary was provided at a tax rate of 12%[20] - The Hong Kong profits tax for the current period was HKD 234,000, down from HKD 446,000 in the previous year, indicating a decrease of approximately 47.4%[19] - The company incurred other expenses totaling HKD 3,284,000 for the six months ending September 30, 2025, compared to HKD 4,615,000 in the previous year, reflecting a reduction of about 29%[18] - The company reported a deferred tax expense of HKD 581,000 for the current period, compared to HKD 897,000 in the previous year[19] Employee and Operational Metrics - Employee costs for the six months ended September 30, 2025, were approximately HKD 7.2 million, stable compared to HKD 7.5 million for the same period in 2024[46] - The group had approximately 39 employees, with employee costs for the six months ending September 30, 2025, and September 30, 2024, being approximately HKD 7.2 million and HKD 7.5 million, respectively[61] Other Information - The company did not recommend any dividend payment for the six months ending September 30, 2025, consistent with the previous year[25] - As of September 30, 2025, the group had no significant or contingent liabilities[60] - No significant events occurred from the reporting period until the announcement date, aside from the share option exercise[78]
MOS HOUSE(01653) - 2026 - 中期业绩