Financial Performance - Revenue for the six months ended September 30, 2023, was approximately HK$176.7 million, representing an increase of approximately 54.7% compared to HK$114.2 million for the same period in 2022[20]. - Profit for the period was approximately HK$4.8 million, a significant increase of approximately 133.2% from a loss of approximately HK$14.6 million in the prior year[20]. - Earnings per share improved to approximately HK0.42 cents, compared to a loss of approximately HK(1.27) cents per share in the same period last year, reflecting an increase of approximately 133.1%[20]. - Profit before tax for the period was HK$4,833,000, compared to a loss of HK$14,571,000 in the previous year[126]. - The Group reported a loss attributable to owners of the Company of HK$4,833,000 for the six months ended 30 September 2023, compared to a loss of HK$14,571,000 in the same period of 2022, representing a 66.96% improvement[175]. - Basic loss per share improved to HK$0.42 in 2023 from HK$1.27 in 2022, indicating a reduction in loss per share by 66.93%[175]. Revenue and Income - The Group's revenue increased by approximately 54.7%, from approximately HK$114.2 million for the six months ended 30 September 2022 to approximately HK$176.7 million for the six months ended 30 September 2023[26]. - For the six months ended 30 September 2023, the Group's revenue from Chinese restaurant operations was HK$176,748,000, representing an increase of 54.8% compared to HK$114,246,000 for the same period in 2022[149]. - Other income decreased significantly by approximately 98.7%, from approximately HK$15.9 million for the six months ended 30 September 2022 to approximately HK$0.2 million for the six months ended 30 September 2023[27]. - The Group's total other income for the six months ended September 30, 2023, was HK$150,000, a decrease from HK$15,915,000 in the previous year[165]. Costs and Expenses - The cost of food and beverages increased by approximately 43.3%, from approximately HK$30.7 million for the six months ended 30 September 2022 to approximately HK$44.0 million for the six months ended 30 September 2023[32]. - Staff costs increased by approximately 28%, from approximately HK$48.8 million for the six months ended 30 September 2022 to approximately HK$62.5 million for the six months ended 30 September 2023[33]. - Total other expenses for the six months ended 30 September 2023 were HK$14,288,000, a decrease of 6.85% from HK$15,337,000 in 2022[171]. - The Group's finance costs for the six months ended September 30, 2023, totaled HK$3,767,000, an increase of 23.1% from HK$3,060,000 in the previous year[157]. Dividends and Shareholder Information - The Board does not recommend the payment of any dividend for the six months ended September 30, 2023[20]. - The board does not recommend payment of an interim dividend for the six months period ended 30 September 2023, consistent with the previous year[82]. - As of September 30, 2023, Chow Tsz Nga Georgia holds 586,500,000 shares, representing 51% of the company's total shareholding[103]. - No other person had registered an interest or short position in the shares or underlying shares of the company as of September 30, 2023[104]. Assets and Liabilities - As at 30 September 2023, the Group's cash and cash equivalents were approximately HK$91.5 million[44]. - The Group's total borrowings amounted to approximately HK$33.7 million as at 30 September 2023[45]. - The current ratio of the Group was approximately 0.7 times as at 30 September 2023[44]. - The Group's gearing ratio was approximately 113.1% as at 30 September 2023[45]. - Total assets less current liabilities as of September 30, 2023, amounted to HK$64,424,000, down from HK$85,681,000 as of March 31, 2023[128]. - Current liabilities decreased to HK$165,214,000 from HK$170,117,000 as of March 31, 2023[127]. - The Group's net current liabilities as of 30 September 2023 were approximately HK$52,189,000, with a net profit of approximately HK$4,833,000 for the period[137]. Employment and Operations - The Group had approximately 273 employees as of September 30, 2023, an increase from 224 employees as of March 31, 2023[50][54]. - The Group's operations are entirely located in Hong Kong, with all revenue from external customers and non-current assets based in the same region[153]. Capital Expenditures and Investments - Capital expenditures during the review period were primarily related to the addition and renovation of properties for new restaurants in Hong Kong and the acquisition of restaurants in Guangzhou and Shenzhen[47][51]. - The Group acquired property, plant, and equipment amounting to approximately HK$670,000 during the six months ended September 30, 2023, down from HK$1,417,000 in the same period of 2022, a decrease of 52.76%[177]. - As of September 30, 2023, the Group did not hold any significant investments[56][61]. Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated interim financial statements for the six months ended 30 September 2023[93]. - The company has complied with all code provisions of the Corporate Governance Code during the six months ended 30 September 2023[85]. - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended 30 September 2023[87]. Lease and Rental Information - Lease liabilities as of 30 September 2023 amounted to HK$104,373,000, down from HK$138,593,000 as of 31 March 2023, indicating a reduction of 24.67%[185]. - Total cash outflow for leases during the six months ended 30 September 2023 was approximately HK$45,280,000, an increase from HK$36,589,000 in the same period of 2022, reflecting a year-over-year increase of about 23.3%[191]. - The Group did not enter into any rent concession arrangements during the six months ended 30 September 2023, maintaining stable lease liabilities[191]. Taxation and Government Subsidies - The Group did not recognize any provision for Hong Kong Profits Tax for the current and prior periods due to sufficient tax losses brought forward to offset estimated assessable profits[161]. - The Group reported a government subsidy of HK$209,000 for the six months ended September 30, 2023, compared to HK$4,930,000 in the same period of 2022, indicating a significant decrease[165]. - Total cash subsidy received from the Hong Kong Government under the Anti-Epidemic Fund for the six months ended 30 September 2023 was HK$209,000, a decrease of 95.77% from HK$4,930,000 in the same period of 2022[166].
维力生活科技(01703) - 2026 - 中期财报