Financial Performance - For the six months ended September 30, 2025, the group recorded unaudited revenue of approximately HKD 19,300,000, an increase of about HKD 7,700,000 or 66.4% compared to HKD 11,600,000 for the same period in 2024[15] - The group reported an unaudited loss attributable to owners of the company of approximately HKD 1,000,000, a significant improvement from a loss of HKD 6,400,000 for the same period in 2024[15] - Basic and diluted loss per share attributable to owners of the company was HKD 0.04, compared to HKD 0.24 for the same period in 2024[15] - The group achieved a gross profit of HKD 5,882,000 for the six months ended September 30, 2025, compared to HKD 8,128,000 in the same period of 2024[16] - Operating profit for the period was HKD 184,000, a recovery from an operating loss of HKD 5,089,000 in the previous year[16] - The group incurred total comprehensive expenses of HKD 1,109,000 for the period, improving from HKD 5,253,000 in the same period of 2024[18] - The group’s administrative expenses decreased to HKD 3,537,000 from HKD 5,351,000 in the previous year, indicating improved cost management[16] - The financial costs for the period were HKD 78,000, down from HKD 191,000 in the previous year, reflecting better financial management[16] - The company reported a pre-tax loss of HKD 1,003,000 for the six months ended September 30, 2025, compared to a loss of HKD 6,398,000 for the same period in 2024, showing a reduction in losses[46] Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 8,985,000 from HKD 300,000 at the end of the previous reporting period[26] - The company recorded a net cash inflow from financing activities of HKD 8,568,000, compared to a net outflow of HKD 9,051,000 in the previous year[26] - The company’s cash flow from operating activities was HKD 135,000, down from HKD 596,000 in the previous year[26] - The company has secured a loan of RMB 8,000,000 (approximately HKD 8,576,000) from a related party, which will not require repayment within the next twelve months, enhancing liquidity[33] - The board believes that the company has sufficient working capital to meet its operational needs and financial obligations for the forecast period, despite uncertainties regarding future outcomes[32] Assets and Liabilities - Current liabilities exceeded total assets by approximately HKD 15,028,000 on the same date[29] - Total assets less current liabilities stood at HKD (15,028,000) as of September 30, 2025[29] - The company’s total liabilities amounted to HKD 53,454,000, up from HKD 30,341,000 in the previous period[22] - The company’s equity attributable to owners decreased to HKD (13,950,000) from HKD (12,998,000)[22] - Accounts receivable increased significantly to HKD 28,684,000 from HKD 15,288,000[22] - Accounts payable increased significantly to HKD 14,633,000 as of September 30, 2025, from HKD 2,782,000 as of March 31, 2025[56] - Bank borrowings amounted to HKD 4,293,000 as of September 30, 2025, down from HKD 4,730,000 as of March 31, 2025[57] Operational Focus and Strategy - The company’s operational focus remains on the food and beverage business in Hong Kong and China, with ongoing efforts to control administrative costs and improve cash flow[34] - The group aims to solidify its position as a leading supplier in the food and beverage distribution sector in China and expand its restaurant and related business operations[70] - The group plans to continue monitoring market trends and seek opportunities to improve financial performance while maintaining a conservative outlook on profitability for the coming months[70] Corporate Governance and Compliance - The board emphasizes high standards of corporate governance to maintain transparency and protect shareholder interests[112] - The audit committee, consisting of three independent non-executive directors, has reviewed the interim financial statements for the six months ending September 30, 2025[126] Employee and Operational Costs - Employee costs decreased by approximately 82.4% to about HKD 1.8 million for the six months ending September 30, 2025, from approximately HKD 10.2 million for the same period in 2024, with the number of employees reduced from 44 to 17[77] - The group's property rental and related expenses decreased by approximately 85.7% to about HKD 300,000 for the six months ending September 30, 2025, due to the closure of all restaurants in Hong Kong[79] - Administrative expenses decreased by approximately 35.2% from HKD 5,400,000 to HKD 3,500,000 for the six months ending September 30, 2025, primarily due to reductions in cleaning, legal, and maintenance costs[83] Risks and Challenges - Major risks include reliance on human resources in China and potential increases in wage levels affecting future employee costs[113] - The group relies on the reliable supply of food ingredients and alcoholic beverages, with potential price fluctuations impacting costs[113] - For the six months ending September 30, 2025, all revenues were derived from the sales and distribution of food and beverages in China, which may experience seasonal and cyclical fluctuations[110] Shareholder Information - As of September 30, 2025, the ownership stakes of directors and key executives include 1,730,560,000 shares (65.46%) held by Mr. Zhou Feng through Tian Shield Investment Limited[119] - As of September 30, 2025, Tian Dun Investment Limited holds 1,730,560,000 shares, representing 65.46% of the company's equity[122] - The stock option plan adopted on July 21, 2016, allows for the issuance of 60,000,000 shares at an exercise price of HKD 0.163 per share, with no options granted or exercised as of the report date[123] - There are currently 140,000,000 stock options available for grant under the stock option plan, accounting for approximately 5.3% of the total issued shares as of the report date[123] Acquisitions and Investments - The company signed a share transfer agreement to acquire a 52% stake in Guizhou Yijinzhe Liquor Industry Co., Ltd. for a nominal consideration of RMB 1 from three independent third parties[64] - The group completed the acquisition of a 55% stake in Nanjing Zerui Longxiang Supply Chain Management Co., Ltd. on September 24, 2025, to enhance its sales and distribution capabilities[69] - The group entered into an equity transfer agreement to acquire a 52% stake in Xishuangbanna Menghai Longpu Tianxia Tea Industry Co., Ltd. for a nominal price of RMB 1, aiming to strengthen its position in the food and beverage sector[70] Taxation - The company’s tax expense for the six months ended September 30, 2025, included a current tax charge of HKD 1,266,000, reflecting the applicable corporate tax rates in China[44] - Income tax expense for the six months ending September 30, 2025, was approximately HKD 1,300,000, attributed to increased taxable profits from the sale and distribution of food and beverages in China[84]
今米房集团(08300) - 2026 - 中期业绩