Financial Performance - The Group reported a loss of approximately HK$29 million for the six months ended 30th September 2025, compared to a profit of approximately HK$7 million in the same period last year, with revenue decreasing by approximately 16% to about HK$429 million[3][4]. - The gross profit margin decreased by approximately six percentage points compared to the same period last year, primarily due to intensified industry competition and aggressive pricing strategies[4]. - Revenue for the six months ended September 30, 2025, was HK$429,409,000, a decrease of 15.6% compared to HK$508,622,000 for the same period in 2024[130]. - Gross profit for the same period was HK$52,540,000, down 42.2% from HK$90,901,000 in 2024[130]. - The operating loss for the period was HK$27,529,000, compared to an operating profit of HK$10,196,000 in the previous year[130]. - The net loss attributable to owners of the Company was HK$28,812,000, a significant decline from a profit of HK$7,260,000 in 2024[130]. - Total comprehensive loss for the period was HK$18,876,000, compared to a comprehensive income of HK$27,291,000 in 2024[132]. - The company reported a comprehensive loss of HK$29,030,000 for the six months ended September 30, 2025[139]. Operational Challenges - The Southern China operation faced significant challenges due to new US tariffs on various Chinese imports, leading to a sharp contraction in export orders and an overall business loss[16][18]. - The Guangzhou plant maintained profitability through automation and lean production, while the Shaoguan plant turned from profit to loss due to reduced export orders, and the Suzhou plant's losses expanded due to delayed orders from major customers[5][12]. - The Eastern China operation underwent strategic adjustments, including market diversification and partnerships with leading board game service providers to fill order gaps caused by trade policy impacts[22][24]. Innovation and Development - The Group obtained a total of 14 new patents across its various plants, demonstrating strong capabilities in process improvement and product development[11][13]. - The Group is accelerating the deployment of production capacity in Southeast Asia to diversify geopolitical risks and enhance operational efficiency through technological innovation[7][10]. - The Group is exploring non-traditional business areas such as e-commerce and high-end packaging to promote business diversification and consolidate its market position[7][9]. - The environmentally friendly product brand "TEAM GREEN®" achieved significant business expansion, with notable sales growth in Hong Kong's core business districts and successful collaborations with popular IP brands[21][23]. Financial Position - The Group's cash and bank balances as of September 30, 2025, amounted to approximately HK$115 million, down from HK$199 million on March 31, 2025[33]. - Total bank borrowings as of September 30, 2025, were approximately HK$27.4 million, a decrease from HK$73.5 million on March 31, 2025[37]. - The Group's working capital surplus as of September 30, 2025, was approximately HK$198 million, down from HK$252 million on the same date in 2024[39]. - The gearing ratio as of September 30, 2025, was 5%, compared to 7% in 2024, indicating a reduction in financial leverage[39]. - Interest expense for the period was approximately HK$1 million, a decrease from HK$1.6 million in the same period of 2024[38]. Employee Relations and Governance - The Group employs approximately 2,400 employees and maintains good relations with them, offering competitive packages and various training programs[47]. - The Group's remuneration packages for employees, including Directors, are determined based on individual performance and current market rates[52]. - The Group has maintained a share option scheme to incentivize certain employees, including executive directors[47]. - The Company has complied with the Corporate Governance Code throughout the six months ended September 30, 2025, except for certain deviations[108]. Market and Economic Outlook - The global economy is projected to grow at rates of 3.2% and 3.1% for 2025 and 2026, respectively, despite ongoing trade policy uncertainties[30]. - The Group aims to expand its non-traditional operations and high-value-added product portfolio by leveraging opportunities from the Regional Comprehensive Economic Partnership (RCEP)[31]. Cash Flow and Investments - For the six months ended September 30, 2025, Starlite Holdings reported a net cash used in operating activities of HK$29,253,000, an increase from HK$24,836,000 in the same period of 2024, representing a 17.4% increase[141]. - Cash flows from investing activities showed a net cash outflow of HK$7,965,000, slightly improved from HK$8,190,000 in 2024, indicating a 2.8% decrease in cash used for investments[141]. - The company experienced a significant increase in repayments of bank loans, totaling HK$46,188,000, compared to HK$23,051,000 in the previous year, marking a 100.5% increase[141]. Shareholder Information - As of September 30, 2025, Ms. Li Lin holds 202,962,677 shares, representing approximately 40.54% of the total shareholding[96]. - The Company has not purchased, sold, or redeemed any of its securities during the six months ended September 30, 2025[107]. - No interim dividend was recommended for the six months ended September 30, 2025, compared to an interim dividend of HK$0.01 per share in 2024[187].
星光集团(00403) - 2026 - 中期财报