Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 1,770,284, an increase of 3.2% compared to HKD 1,716,129 for the same period in 2024[3] - Gross profit for the period was HKD 416,092, representing a slight increase from HKD 413,499 in the previous year[3] - Net profit for the period was HKD 11,188, down 38.7% from HKD 18,274 in the same period last year[4] - Basic and diluted earnings per share decreased to HKD 3.4 from HKD 5.3 year-on-year[3] - Total comprehensive income for the period was HKD 22,678, compared to HKD 30,669 in the previous year[4] - Total revenue for the six months ended September 30, 2025, was HKD 1,770,284,000, an increase from HKD 1,716,129,000 in the same period of 2024, representing a growth of approximately 3.2%[12][17] - Total other income for the six months ended September 30, 2025, was HKD 6,550,000, a decrease of 20.5% compared to HKD 8,243,000 for the same period in 2024[21] - The net fair value gain on financial assets recognized through profit or loss for the six months ended September 30, 2025, was HKD 2,142,000, down from HKD 6,727,000 in 2024, representing a decline of 68.1%[21] - The total tax expense for the six months ended September 30, 2025, was HKD 13,733,000, an increase of 20.5% compared to HKD 11,407,000 in 2024[24] - Basic earnings per share for the six months ended September 30, 2025, were HKD 0.0343, down from HKD 0.0532 in 2024, reflecting a decrease of 35.5%[29] Assets and Liabilities - Non-current assets totaled HKD 1,360,512, a decrease from HKD 1,372,507 as of March 31, 2025[5] - Current assets amounted to HKD 1,764,950, down from HKD 1,800,258 as of March 31, 2025[5] - Total liabilities increased to HKD 1,621,796 from HKD 1,558,899, indicating a rise in current liabilities[5] - The company's equity attributable to owners was HKD 1,196,714, slightly down from HKD 1,197,129[6] - The total assets for the company as of September 30, 2025, were HKD 3,125,462,000, with segment assets of HKD 1,431,703,000 in Hong Kong, HKD 717,784,000 in mainland China, and HKD 450,647,000 in Japan[14] - The total liabilities for the company were HKD 1,908,245,000, with segment liabilities of HKD 477,626,000 in Hong Kong, HKD 279,908,000 in mainland China, and HKD 277,929,000 in Japan[14] - Trade receivables as of September 30, 2025, totaled HKD 620,098,000, an increase of 4.7% from HKD 592,404,000 as of March 31, 2025[31] - Trade payables as of September 30, 2025, amounted to HKD 261,687,000, a slight increase from HKD 258,832,000 as of March 31, 2025[32] - The group has a cash and cash equivalents balance of HKD 524,044,000 as of September 30, 2025[50] - The total bank credit available to the group is HKD 2,747,169,000, with 45% already utilized[50] - The net debt-to-equity ratio stands at 59% as of September 30, 2025[50] Market and Sales Performance - Sales to external customers in Hong Kong amounted to HKD 855,306,000, while sales in mainland China were HKD 295,484,000, and Japan contributed HKD 619,494,000[12][17] - The adjusted profit before tax for the Hong Kong segment was HKD 48,658,000, while the mainland China segment reported a loss of HKD 2,939,000, and Japan generated a profit of HKD 1,642,000[12][13] - Profit attributable to equity owners for the same period was HKD 13,080,000, down from HKD 20,462,000 in 2024, primarily due to weak consumer confidence in Hong Kong and mainland China[36] - Revenue from the Hong Kong region was HKD 855,306,000, accounting for 48% of total revenue, while mainland China contributed HKD 295,484,000 (17%) and Japan contributed HKD 619,494,000 (35%)[36] Operational Highlights - The company reported a foreign exchange gain of HKD 8,153 from the translation of overseas operations[4] - The company recognized a total of HKD 2,583,000 in revenue from the sale of goods during the reporting period, compared to HKD 2,118,000 in the previous year[18] - The company incurred a total depreciation and amortization expense of HKD 25,304,000, with HKD 12,537,000 from Hong Kong, HKD 8,524,000 from mainland China, and HKD 4,243,000 from Japan[12][13] - The company reported a total of HKD 1,359,000 in inventory write-downs, with HKD 5,000 from Hong Kong and HKD 1,354,000 from mainland China[12][13] - The company declared an interim dividend of HKD 0.03 per share for the six months ended September 30, 2025, consistent with the dividend declared in 2024[34] - The financing costs for the six months ended September 30, 2025, were HKD 24,474,000, a decrease of 7.1% from HKD 26,344,000 in 2024[21] Strategic Initiatives - The company plans to continue expanding its market presence and developing new products to enhance revenue growth in the upcoming periods[12] - The company launched new products and marketing activities to mitigate the impact of challenging business conditions, demonstrating strong brand foundation and competitive pricing strategies[36] - The flagship store "Four Seasons Food Experience Hall" in Causeway Bay, covering over 20,000 square feet, has been fully operational, enhancing product promotion and consumer engagement[38] - The company continues to explore supplier opportunities and expand product sources, focusing on high-quality food products from Japan, including eggs, beverages, dairy products, and rice[39] - The group emphasizes food safety and quality, having received multiple international certifications such as HACCP, ISO 9001, and ISO 22000, ensuring compliance with international standards[40] - The acquisition of Miyata Company has strengthened the sales platform across mainland China, Hong Kong, and Japan, enhancing sales capabilities and expanding the customer base[43] - The company introduced new flavors and products, such as the OHAYO caramel pudding ice cream and new flavors of Calbee chips, to cater to evolving consumer preferences[38] - The retail and dining segments continue to thrive, with popular establishments like "Four Seasons • Delight" Japanese cuisine and "Gong De Lin" Shanghai vegetarian restaurant receiving positive consumer feedback[41] - The group aims to leverage its strong market presence in Hong Kong, mainland China, and Japan to enhance its business growth and product offerings[46] - The group is actively expanding its market presence in the Greater Bay Area, which has a population exceeding 87 million and a GDP of over RMB 14 trillion[48] Corporate Governance - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the six months ending September 30, 2025[55] - The audit committee consists of three independent non-executive directors, who have reviewed the unaudited interim financial report for the six months ending September 30, 2025[56] - The interim report will be published on the Hong Kong Stock Exchange and the company's website, containing information as required by listing rules[57] - The board expresses gratitude to shareholders, business partners, and employees for their continued support[58] - The board of directors includes five executive directors and three independent non-executive directors as of the announcement date[59] - The chairman of the board is Mr. Dai Defeng, who holds multiple honors[60] Awards and Recognition - The group received multiple awards for its brand performance, including the "2025 Excellence Award (Market Leap)" from Haribo and "Annual Supreme Brand" from Wellcome Supermarket[45] - The group is committed to corporate social responsibility, focusing on community service and sustainable development initiatives[45] - The group plans to introduce new flavors and styles to maintain its leadership position in the food industry[46] Workforce - The group employs approximately 2,500 staff members as of September 30, 2025[51] - The group purchased a total of 72,000 shares between August and October 2025, with a total cost of HKD 181,800[52]
四洲集团(00374) - 2026 - 中期业绩