Financial Performance - For the six months ended September 30, 2025, turnover reached HK$1,990.6 million, representing a year-on-year increase of 6.6% from HK$1,866.9 million[8]. - Gross profit for the same period was HK$755.0 million, up from HK$724.8 million, indicating a growth of 4.0%[8]. - Profit for the period was HK$50.2 million, a significant increase of 55.0% compared to HK$32.4 million in the previous year[8]. - Basic earnings per share rose to 1.6 HK cents, compared to 1.0 HK cents in the prior year, reflecting a 60.0% increase[8]. - The company declared an interim dividend of 1.15 HK cents per share, with a payout ratio of approximately 71%[8]. - Operating profit for continuing operations was HK$69,523, compared to HK$65,357 in the previous year, indicating a growth of 3.2%[9]. - Profit for the period from continuing operations was HK$52,891, up from HK$47,498, reflecting an increase of 5.0%[9]. - Total comprehensive income for the period attributable to owners of the Company was HK$58,354, an increase of 19.4% from HK$48,876 in 2024[150]. Financial Position - As of September 30, 2025, total equity stood at HK$1,163.0 million, with cash and bank balances of HK$251.1 million[8]. - The current ratio was reported at 1.6 times, indicating a solid financial position[8]. - Total assets decreased to HK$2,323,124 from HK$2,343,253, a decline of 0.9%[9]. - Total liabilities decreased to HK$1,160,142 from HK$1,197,336, a reduction of 3.1%[9]. - Net assets increased to HK$1,162,982, up from HK$1,145,917, showing a growth of 1.5%[9]. - The Group's total equity as of September 30, 2025, was HK$1,162,982,000, an increase from HK$1,145,917,000 as of September 30, 2024[154]. Sales and Market Performance - The geographical sales mix showed that Hong Kong & Macau contributed 77.1% to total sales, while Chinese Mainland and Southeast Asia accounted for 11.4% and 11.3%, respectively[8]. - The number of points of sale increased to 157, with Hong Kong & Macau sales points growing by 8.9% and Southeast Asia by 3.7%[8]. - Offline sales in Hong Kong and Macau reached HK$1,424.9 million, an increase of 8.9% year-on-year, while Southeast Asia's offline sales were HK$168.5 million, up by 3.7%[49]. - Online sales in Hong Kong and Macau grew by 16.3% year-on-year to HK$110.3 million, while online sales in Southeast Asia surged by 43.6% to HK$55.5 million[50]. - Same-store sales in Hong Kong and Macau grew by 11.4% year-on-year, with offline sales performance increasing by 8.9%[76][80]. Operational Insights - The company is actively integrating its physical and online business presence to enhance the customer-centric omni-channel shopping experience[4]. - The Group plans to focus on market expansion and new product development in the upcoming quarters[9]. - The Group plans to strategically expand its store network in Hong Kong and Macau, contingent on reasonable rental costs[73][74]. - The Group's online sales network includes a diverse range of brands and products, enhancing customer engagement through social media platforms[87][88]. - The Group's Buy-Online-Pick-Up-In-Store (BOPIS) service remains popular, enhancing customer interaction and sales[96][100]. Challenges and Market Trends - The ongoing geopolitical conflicts and trade protectionism have led to economic slowdowns, affecting international trade liquidity and increasing volatility in import and export activities[22]. - The shift in travel habits of Chinese Mainland tourists towards experiential travel has created opportunities for the Group to promote exclusive brands, enhancing customer loyalty and profit margins[29]. - The competitive landscape in the beauty retail sector is prompting companies to optimize their operating models between online and offline channels to enhance efficiency[38][42]. - The Group remains cautiously optimistic about the Hong Kong and Macau markets, despite challenges such as labor shortages and high operating costs[35][39]. Visitor Statistics - In the first half of 2025, Hong Kong welcomed 24.2 million visitors, with 18.7 million from the Chinese Mainland, representing a 13.3% increase compared to the previous year[23]. - Macau received 19.8 million visitors, with 14.3 million from the Chinese Mainland, marking a 20.2% increase year-on-year[23]. Inventory and Cash Flow - Group inventories increased to HK$833.5 million, with stock turnover days rising by 21 days to 124 days[138]. - Cash flow from operating activities was negative at HK$42,647, compared to a positive cash flow of HK$54,911 in the previous year[9]. - The Group's total cash balance decreased to HK$251.1 million from HK$371.1 million as of March 31, 2025[65]. Future Outlook - The Group anticipates that further increases in the number of Individual Visit Scheme cities could yield additional positive effects for the tourism and retail sectors in Hong Kong and Macau[27]. - The e-commerce sector in Southeast Asia is projected to grow from USD184 billion in 2024 to USD410 billion by 2030, with a compound annual growth rate of 14%[44][47].
莎莎国际(00178) - 2026 - 中期财报