Revenue and Profitability - The group's revenue for the six months ended September 30, 2025, was approximately HKD 28,460,000, an increase of about HKD 1,100,000 or 4.02% compared to HKD 27,360,000 for the same period in 2024[11]. - Revenue from the jewelry design and marketing business was approximately HKD 10,000,000, down from HKD 11,320,000 in 2024, while revenue from the lending business increased to approximately HKD 18,460,000 from HKD 16,040,000[11]. - Gross profit increased to approximately HKD 19,040,000, a rise of about HKD 2,450,000 or 14.77%, with the gross profit margin improving from approximately 60.64% to 66.89%[11]. - The group's profit before tax for the period was approximately HKD 11,900,000, an increase of about HKD 590,000 compared to HKD 11,310,000 in 2024[13]. - The group's net profit for the period was approximately HKD 8,360,000, down from HKD 10,960,000 in 2024[13]. - Basic earnings per share for the six months ended September 30, 2025, was HKD 0.65, compared to HKD 0.85 in 2024[59]. - The company reported a profit for the period of HKD 8,356,000, down 23.9% from HKD 10,959,000 in the previous year[55]. - Total comprehensive income for the period was HKD 2,708,000, significantly lower than HKD 13,196,000 in the same period last year[57]. Lending Business - The lending business had a total loan amount of approximately HKD 360,920,000 as of September 30, 2025, up from HKD 342,880,000 as of March 31, 2025[17]. - The average interest rate for loans was 10.59% as of September 30, 2025, slightly down from 10.70% as of March 31, 2025[17]. - The company has established a maximum loan amount of HKD 10,000,000, with a loan term not exceeding three years and an interest rate of at least 5%[20]. - Interest income from lending for the same period increased to HKD 18,462,000, up 15.0% from HKD 16,042,000 in 2024[76]. - The company's receivables from loans amounted to HKD 360,924,000 as of September 30, 2025, with an expected credit loss provision of HKD (46,752,000)[97]. Financial Position - The company's total assets as of September 30, 2025, were HKD 384,837,000, slightly down from HKD 384,840,000 as of March 31, 2025[62]. - The company's net current assets as of September 30, 2025, were approximately HKD 250,240,000, including cash and cash equivalents of about HKD 160,000[28]. - The company's debt-to-equity ratio as of September 30, 2025, was 8.16%[28]. - Current liabilities increased to HKD 63,677,000 from HKD 54,372,000 in the previous period[62]. - The net asset value of the company as of September 30, 2025, was HKD 369,841,000, up from HKD 367,133,000 as of March 31, 2025[62]. - The company recorded a decrease in financial costs to HKD 1,630,000 from HKD 1,117,000 in the previous year[55]. - The total amount of other payables and accrued expenses rose to HKD 39,771,000 as of September 30, 2025, from HKD 36,033,000 as of March 31, 2025[20]. - The company's total liabilities included HKD 27,544,000 in convertible bonds and HKD 4,986,000 in loans and interest payable[80]. Risk Management and Market Conditions - The group plans to strengthen risk management to navigate external risks and seize opportunities amid a challenging operating environment[16]. - The geopolitical tensions and economic uncertainties continue to impact consumer spending, particularly in the jewelry design and marketing business[16]. - The number of licensed money lenders has decreased from 2,324 in 2019 to 2,048 in 2025, indicating a contraction in the alternative financing market[23]. Corporate Governance and Compliance - The company has complied with the corporate governance code during the six months ending September 30, 2025[48]. - The company has not engaged in any significant acquisitions or disposals during the six months ending September 30, 2025[25]. - The company has not entered into any derivative contracts to mitigate foreign exchange risks as of September 30, 2025[29]. - No directors or senior executives hold any interests or short positions in the company's shares or related securities as of September 30, 2025[36]. - The company has not established any arrangements that would allow directors or their immediate family members to benefit from acquiring shares or debentures of the company or any other corporate entity[37]. - No major shareholders are known to hold interests in the company's shares or related securities that require disclosure under the Securities and Futures Ordinance as of September 30, 2025[38]. Employee and Management Information - The company maintains a workforce of 7 employees as of September 30, 2025, with compensation based on job nature, experience, and market conditions[33]. - For the six months ended September 30, 2025, the short-term employee benefits for key management personnel amounted to HKD 599,000, a decrease from HKD 683,000 for the same period in 2024[115]. - As of September 30, 2025, the company has not identified any incidents of employees violating the written guidelines regarding securities trading[35]. Share Capital and Options - The new share option plan adopted on September 29, 2021, allows the company to grant options to eligible participants to reward contributions to the group's successful operation[39]. - A total of 124,927,550 ordinary shares are available for issuance under the new share option plan, representing 10% of the issued share capital as of the mid-term report date[41]. - The new share option plan will remain effective until September 28, 2031, subject to early termination provisions[46]. - As of September 30, 2025, there are no unexercised options remaining under the new share option plan[47]. - The total issued and fully paid ordinary shares remained at 1,294,706,000 shares with a share capital of HKD 129,471,000 as of September 30, 2025[22]. Inventory and Receivables - Inventory held for sale increased to HKD 98,268,000 as of September 30, 2025, compared to HKD 93,929,000 as of March 31, 2025[16]. - The company has a credit period of 90 days for trade customers, with accounts receivable aging analysis showing HKD 4,249,000 overdue as of September 30, 2025[18]. - As of September 30, 2025, accounts receivable from customers (net of expected credit loss provisions) totaled HKD 314,172,000, an increase from HKD 296,339,000 as of March 31, 2025[14]. - The expected credit loss provision for accounts receivable increased to HKD 937,000 as of September 30, 2025, from HKD 440,000 as of March 31, 2025[17].
杜甫酒业集团(00986) - 2026 - 中期财报