Financial Performance - Revenue for the interim period was HK$434.9 million, down 15.8% from HK$516.4 million in 2024[6]. - Gross profit decreased to HK$88.1 million, a decline of 27.3% from HK$121.2 million in 2024[6]. - Loss attributable to equity holders was HK$3.2 million, compared to a profit of HK$16.5 million in 2024[6]. - Operating profit decreased to HK$21,963,000, a decline of 49.3% from HK$43,462,000 in the previous year[101]. - Profit for the period was HK$16,806,000, a significant drop of 57.7% compared to HK$39,680,000 in 2024[101]. - Basic and diluted earnings per share for the period were both HK$-0.75, compared to HK$3.88 in the previous year[101]. - Total comprehensive income for the period was HK$21,223,000, a decrease of 55.3% from HK$47,460,000 in 2024[103]. - Cash generated from operations for the six months ended September 30, 2025, was a net outflow of HK$65,805,000, compared to a net inflow of HK$62,493,000 in 2024[108]. - The company reported a profit for the period of HK$16,806,000 for the six months ended September 30, 2025, down from HK$39,680,000 in the previous year, indicating a decline of 57.7%[106]. Revenue Breakdown - Revenue from the headsets and headphones segment was HK$247.7 million, accounting for 57.0% of total revenue, down from HK$274.2 million in 2024[7]. - Accessories and components segment revenue reached HK$187.1 million, representing 43.0% of total revenue, down from HK$242.2 million in 2024[10]. - External revenue from headsets and headphones segment was HK$247,738,000, down from HK$274,195,000 in 2024, a decrease of approximately 9.7%[145]. - External revenue from accessories and components segment was HK$187,144,000, down from HK$242,190,000 in 2024, a decrease of approximately 22.8%[145]. - Revenue from two major customers accounted for over 10% of total revenue, totaling approximately HK$145,308,000 and HK$102,499,000 respectively[148]. - Revenue from external customers in Hong Kong was approximately HK$413,515,000, a decrease from HK$461,458,000 in 2024, representing a decline of about 10.4%[150]. Assets and Liabilities - As of September 30, 2025, the Group's net current assets were approximately HK$435.1 million, a slight decrease from HK$437.4 million as of March 31, 2025[22]. - Total current assets increased to HK$741,692,000, up 5.4% from HK$703,806,000 as of March 31, 2025[98]. - Total non-current assets decreased slightly to HK$159,958,000 from HK$160,892,000[98]. - Total assets as of September 30, 2025, were approximately HK$901,650,000, an increase from HK$864,698,000 as of March 31, 2025[147]. - Total trade receivables amounted to HK$293,471,000, an increase from HK$187,508,000 as of March 31, 2025, representing a growth of 56.4%[158]. - Total trade payables increased to HK$157,919,000 as of September 30, 2025, compared to HK$105,153,000 as of March 31, 2025, marking a growth of 50.3%[161]. Cash Flow and Dividends - Cash and cash equivalents decreased by approximately 38.0% to HK$146.8 million from HK$236.8 million as of March 31, 2025[23]. - The company paid dividends totaling HK$21,292,000 to equity holders during the six months ended September 30, 2025, down from HK$25,550,000 in the same period of 2024[110]. - The company declared an interim dividend of HK1.0 cent per ordinary share, totaling HK$4,258,000, compared to HK2.0 cents per share totaling HK$8,517,000 in 2024[183]. Strategic Initiatives - Fujikon is pursuing new alliances, including a co-development project with a renowned European brand in the music industry, set to commence production in the next half-year[12]. - The Group is implementing a "China Plus One" strategy to mitigate tariff-related effects by relocating production to Indonesia[17]. - The Group is focusing on product segments with longer life cycles, such as automotive and medical-related products, which typically have a lifespan of 8 to 10 years[20]. - The Group plans to enhance its manufacturing capabilities in Indonesia to solidify its position as a reliable business partner[21]. Governance and Compliance - The Company has complied with the Corporate Governance Code, except for a deviation regarding the roles of chairman and chief executive officer being held by the same individual[68]. - The Audit Committee has reviewed the Group's unaudited condensed consolidated interim financial information for the six-month period ended September 30, 2025[76]. - The Remuneration Committee consists of four members, including three independent non-executive directors and one executive director[74]. - The Nomination Committee is responsible for reviewing the structure and composition of the Board at least annually[82]. Employment and Costs - The Group employed approximately 1,900 employees as of September 30, 2025, down from 2,200 in 2024, with staff costs totaling approximately HK$129.1 million[32]. - Staff costs for the period were HK$129,066,000, a decrease of 6.3% from HK$138,491,000 in 2024[174]. - Current income tax for the period was HK$9,211,000, down from HK$11,092,000 in 2024, indicating a reduction of 17%[181]. Financial Risks - The Group's financial risk management policies have remained unchanged since March 31, 2025, and the activities expose it to various financial risks including market risk, credit risk, and liquidity risk[132][133]. - The Group's financial risk factors include foreign exchange risk, cash flow and fair value interest rate risk, and price risk[129]. Other Information - The Group entered into a settlement agreement on December 7, 2024, regarding a quality issue with a specific model of headphones, which has led to continued orders from the customer[196]. - The Group is actively negotiating with the supplier regarding the quality issue to avoid arbitration proceedings, with any agreed reimbursements to be recognized when virtually certain[199].
富士高实业(00927) - 2026 - 中期财报