Financial Performance - Revenue for the six months ended September 30, 2025, was HK$139,649,000, a decrease of 7.3% compared to HK$150,671,000 in 2024[13] - Gross profit for the same period was HK$40,208,000, down 2.1% from HK$41,079,000[13] - EBITDA increased by 32% to HK$2,742,000 from HK$2,078,000 year-over-year[13] - Loss attributable to equity holders of the company improved by 40.4%, from HK$4,985,000 in 2024 to HK$2,971,000 in 2025[13] - Basic loss per share decreased from HK$0.025 to HK$0.015, a reduction of 40%[13] - Operating profit for the Period was approximately HK$0.4 million, compared to an operating loss of HK$1.3 million in the Corresponding Period[57] - The loss attributable to equity holders of the Company for the Period was approximately HK$3 million, with a basic loss per share of HK$0.015[59] - The company reported a loss for the period of HK$2,722,000, an improvement from a loss of HK$4,833,000 in the same period last year, representing a reduction of approximately 43.5%[108] Assets and Liabilities - Total assets as of September 30, 2025, increased by 1.7% to HK$267,527,000 from HK$263,127,000[13] - Total liabilities as of September 30, 2025, were HK$102,443,000, compared to HK$103,987,000 as of March 31, 2025[145] - The net gearing ratio decreased to 23.3% as of September 30, 2025, down from 25% as of March 31, 2025, reflecting improved financial stability[90] - Current assets rose to HK$209,385,000, up from HK$206,766,000, marking an increase of about 0.8%[109] - Net current assets improved to HK$109,964,000 from HK$106,138,000, showing an increase of approximately 3.4%[110] Cash Flow - Net cash generated from operating activities decreased to HK$3,705,000 for the six months ended 30 September 2025, down 21.9% from HK$4,740,000 in the same period of 2024[112] - The Group recorded a net operating cash inflow of approximately HK$3.7 million during the period, compared to HK$4.7 million in the corresponding period[87] - The Group's cash and bank balances amounted to approximately HK$28 million, with a current ratio of approximately 2.1, indicating stable liquidity[85] - The total cash and cash equivalents at the end of the period stood at HK$27,669,000, slightly up from HK$27,662,000 year-over-year[112] Dividends - The interim dividend declared was HK$0.0025 per share, a reduction of 50% from HK$0.005 per share in 2024[15] - The Board declared an interim dividend of HK$0.25 cents per ordinary share, totaling HK$0.5 million, down from HK$0.5 cents per share in the Corresponding Period[59] Shareholding Structure - As of September 30, 2025, Dr. Hung Kim Fung and Ms. Yeung Man Yi each hold 90,000,000 shares, representing 45% of the total shares[22] - Mr. Yeung Kwok Leung holds 30,000,000 shares, accounting for 15% of the total shares[34] - Mr. Hung Ying Fung has a personal interest of 26,990,000 shares, which is 13.5% of the total shares[22] Business Segments - The Group's core business operations accounted for approximately 70% of total revenue from the Electronic and Electrical Trading Business, 18% from the Computer Business, and 12% from the Cosmetic and Online Retail Business[64] - The Electronic and Electrical Trading Business generated revenue of approximately HK$98 million, a decrease of about 2% compared to HK$100 million in the corresponding period, primarily due to softer demand in the local China market[65][67] - Revenue from cosmetic products fell to HK$16,915,000, down 21.6% from HK$21,581,000[139] Expenses - Total operating expenses for the Period were approximately HK$41 million, a decrease from approximately HK$44 million in the Corresponding Period[57] - General and administrative expenses decreased by approximately 9.1% to approximately HK$27.1 million from HK$29.8 million in the Corresponding Period[58] - Total employee benefit expense decreased to HK$24,268,000 in 2025 from HK$26,105,000 in 2024, indicating a reduction of approximately 7.05%[172] Corporate Governance - The Company has complied with the Corporate Governance Code throughout the period, with a noted deviation regarding the retirement of directors[40] - The Audit Committee has reviewed the accounting principles and practices adopted by the Group during the period[41] - The Remuneration Committee is responsible for recommending remuneration policies for all Directors and senior management[42] Future Outlook - The Group remains optimistic about future performance, citing improving global economic conditions and ongoing initiatives to enhance operational efficiency and cost management[78][80] - The Group expects to achieve stronger financial results and sustainable growth in the coming year, supported by a more favorable external environment[81]
万保刚集团(01213) - 2026 - 中期财报