Financial Performance - Total revenue decreased to HKD 66.8 million for the six months ended September 30, 2025, compared to HKD 79.4 million in 2024, representing a decline of approximately 16.4%[4] - Gross profit for the same period was HKD 37.2 million, down from HKD 46.3 million in 2024, indicating a decrease of about 19.6%[4] - The net loss significantly narrowed to HKD 2.7 million, compared to a net loss of HKD 11.1 million in 2024, reflecting an improvement of approximately 75.7%[5] - Basic loss per share improved to HKD 0.33, down from HKD 1.39 in 2024[5] - Revenue for the six months ended September 30, 2025, was HKD 66,804,000, a decrease of 15.8% compared to HKD 79,375,000 for the same period in 2024[19] - Gross profit for the same period was HKD 37,232,000, down 19.5% from HKD 46,264,000 in 2024[19] - The company reported a loss before tax of HKD 2,658,000, an improvement from a loss of HKD 11,114,000 in the previous year[19] - The total comprehensive loss for the six months ended September 30, 2025, was HKD 2,658,000, compared to a loss of HKD 11,114,000 for the same period in 2024[21] - The company reported a loss attributable to equity holders of HKD 2,658,000 for the six months ended September 30, 2025, compared to a loss of HKD 11,114,000 for the same period in 2024, representing a significant improvement[36] Retail Segment Performance - Retail segment revenue accounted for HKD 62.6 million, which is 93.8% of total revenue, compared to 94.1% in 2024[4] - The retail furniture segment generated revenue of HKD 62,638,000, down 16% from HKD 74,664,000 year-over-year[29] - The wholesale furniture segment saw revenue decline to HKD 2,300,000 from HKD 3,708,000, representing a 38% decrease[29] - The retail income from "Premium Furniture" and "Furniture" stores combined was HKD 26.9 million, accounting for 43.0% of total retail income[4] - "at • home" retail income was HKD 18.7 million, representing 29.8% of total retail income[4] Operational Metrics - The group operates a total of 23 retail points in Hong Kong as of September 30, 2025, including 1 "Premium Furniture" store, 2 "Furniture" stores, and 4 "at • home" stores[10] - Employee count decreased to 108 from 122 in the previous year, with total employee costs at HKD 20,500,000, down from HKD 22,500,000[17] - The company plans to enhance store operations and service quality to increase customer engagement amid a challenging economic environment[15] - The company has established a strong online shopping platform to expand market coverage and revenue[7] Financial Position - As of September 30, 2025, the company's cash and cash equivalents were HKD 22,200,000, down from HKD 27,300,000 as of March 31, 2025[16] - Current assets were approximately HKD 70,700,000, while current liabilities were about HKD 49,200,000, resulting in a current ratio of 1.4[16] - The company had no bank borrowings, maintaining a debt ratio of zero[16] - Inventory as of September 30, 2025, was HKD 29,323,000, slightly down from HKD 30,230,000 as of March 31, 2025[20] - The company recorded a net cash inflow from operating activities of HKD 5,317,000, a significant drop from HKD 15,525,000 in the previous year[22] - The company's cash and cash equivalents decreased by HKD 5,091,000, ending the period at HKD 22,177,000, down from HKD 34,911,000[22] - The cost of goods sold for the six months was HKD 29,572,000, down from HKD 33,111,000, reflecting a 10% reduction[31] Corporate Governance and Compliance - The company has complied with all corporate governance code provisions as per the listing rules during the reporting period[50] - The board of directors has confirmed compliance with the securities trading code during the reporting period[51] - The interim financial statements have not been reviewed or audited by the company's auditor, but have been reviewed by the audit committee[53] Related Party Transactions - Related party transactions included sales of HKD 144,000 and lease payments of HKD 1,112,000 for the six months ended September 30, 2025, compared to HKD 519,000 and HKD 944,000 respectively in 2024[41] - Total remuneration for key management personnel was HKD 2,165,000 for the six months ended September 30, 2025, a decrease from HKD 3,396,000 in the same period of 2024[41] Shareholder Information - The company has adopted a share option scheme since January 8, 2018, with an authorized limit of 80,000,000 shares available for grant[49] - No share options have been granted under the share option scheme since its adoption[49] - No other individuals or entities were reported to have interests in the company's shares or related securities as of September 30, 2025[48] Management and Ownership - Mr. Yang holds significant equity interests in various affiliated companies, including 4,121,416,834 shares (74.71%) in Emperor International Holdings Limited[45] - Emperor Entertainment Hotel Limited has Mr. Yang holding 636,075,041 shares, representing 53.52% of the issued shares[45] - Mr. Yang also holds 4,298,630,000 shares (59.24%) in Emperor Watch and Jewellery Limited[45] Liabilities and Provisions - Trade receivables as of September 30, 2025, totaled HKD 2,709,000, an increase from HKD 2,258,000 as of March 31, 2025, with receivables aged over one month rising from HKD 1,741,000 to HKD 1,135,000[38] - Trade payables and notes payable increased to HKD 3,403,000 as of September 30, 2025, compared to HKD 1,012,000 as of March 31, 2025, with payables due within one month rising significantly from HKD 955,000 to HKD 2,863,000[39] - The company has not made any provisions for contingent liabilities, with a bank guarantee related to a lease agreement amounting to HKD 387,000 as of September 30, 2025, down from HKD 2,187,000[40]
欧化(01711) - 2026 - 中期财报