Financial Performance - For the six months ended September 30, 2025, the company reported revenue of HKD 9,271,000, a decrease of 87.8% compared to HKD 76,124,000 for the same period in 2024[3] - Gross profit for the same period was HKD 3,967,000, down 35.8% from HKD 6,182,000 year-over-year[3] - Operating loss increased to HKD 14,904,000, compared to a loss of HKD 13,759,000 in the previous year, reflecting a year-over-year increase of 8.3%[3] - The company reported a net loss of HKD 14,947,000 for the six months, slightly improved from a loss of HKD 14,948,000 in the prior year[4] - Total revenue for the six months ended September 30, 2025, was HKD 9,271,000, compared to HKD 76,124,000 for the same period in 2024, representing a significant decline[18] - The adjusted EBIT for the reporting segments showed a loss of HKD 12,768,000 for the six months ended September 30, 2025, compared to a loss of HKD 7,685,000 for the same period in 2024[15][16] Revenue Breakdown - Revenue from the "Smartphone Distribution" segment was HKD 45,000 for the six months ended September 30, 2025, significantly lower than HKD 59,691,000 for the same period in 2024[15][16] - The "Building Intelligence" segment reported revenue of HKD 841,000 for the six months ended September 30, 2025, down from HKD 861,000 in the previous year[15][16] - The "Control Systems" segment generated revenue of HKD 8,385,000 for the six months ended September 30, 2025, compared to HKD 15,560,000 for the same period in 2024[15][16] - Revenue from smartphone distribution was HKD 45,000 for the six months ended September 30, 2025, down from HKD 59,691,000 in 2024[18] - Revenue from control systems decreased to HKD 8,385,000 in 2025 from HKD 15,560,000 in 2024, indicating a decline of approximately 46%[18] - Revenue from the Hong Kong market was HKD 45,000 in 2025, a decrease from HKD 49,991,000 in 2024[20] - Revenue from China was HKD 9,226,000 for the six months ended September 30, 2025, down from HKD 16,421,000 in 2024, reflecting a decline of about 44%[20] Expenses and Costs - Research and development expenses were HKD 1,090,000, down 25.2% from HKD 1,459,000 in the same period last year[3] - Employee costs, including director remuneration, totaled HKD 7,836,000 for the six months ended September 30, 2025, down from HKD 9,536,000 in 2024, a decrease of approximately 18%[23] - The sales and distribution expenses increased by approximately HKD 37,000 or 25.9% to about HKD 180,000 due to higher marketing expenditures[61] - Research and development expenses decreased by approximately HKD 0.4 million or 26.7% to about HKD 1.1 million as the group implemented cost control measures[63] Assets and Liabilities - Total assets decreased to HKD 125,828,000 from HKD 147,341,000, representing a decline of 14.5%[6] - Current liabilities decreased from HKD 113,728,000 to HKD 73,222,000, a reduction of 35.6%[6] - The company's cash and cash equivalents dropped to HKD 3,669,000 from HKD 11,030,000, a decrease of 66.7%[6] - The company’s total equity decreased to HKD 100,822,000 from HKD 107,716,000, a decline of 6.5%[7] - The total assets for the group as of September 30, 2025, were HKD 174,192,000, down from HKD 221,444,000 as of March 31, 2025[17] - The total liabilities for the group as of September 30, 2025, were HKD 73,370,000, compared to HKD 113,728,000 as of March 31, 2025[17] Shareholder Information - Basic and diluted loss per share improved to HKD 2.76 from HKD 3.65 year-over-year[4] - Basic loss per share for the six months ended September 30, 2025, was approximately HKD 12,374,000, compared to HKD 13,319,000 for the same period in 2024[29] - The average number of ordinary shares used for calculating basic and diluted loss per share was 448,742,000 for the six months ended September 30, 2025[30] - The company did not declare or propose any dividends for the six months ended September 30, 2025, consistent with the previous period[28] - No interim dividend has been declared for the six months ending September 30, 2025, compared to no dividend for the same period in 2024[80] Corporate Governance and Compliance - The company has adopted the Corporate Governance Code and believes it has complied with all applicable code provisions, except for certain provisions regarding the roles of the chairman and CEO, which have been vacant since January 3, 2020, and March 18, 2025, respectively[82][83] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2025, and confirmed compliance with applicable accounting standards[87] Future Outlook - The company continues to adopt the going concern basis in preparing its financial statements, anticipating sufficient resources to continue operations in the foreseeable future[12] - The group plans to relocate its production base to Australia to serve the Australian and Western markets, aiming to revitalize its building intelligence business[54] - The group will continue to explore new business and investment opportunities to expand or diversify its operations for long-term benefits[55]
协同通信(01613) - 2026 - 中期业绩