Financial Performance - Revenue for the six months ended September 30, 2025, increased to HK$319,444,000, a significant rise from HK$71,200,000 in the same period of 2024, representing a growth of 348%[10] - Gross profit for the same period was HK$46,556,000, compared to HK$6,511,000 in 2024, indicating an increase of 615%[10] - Profit before tax reached HK$36,160,000, a turnaround from a loss of HK$2,879,000 in the previous year[10] - Profit for the period was HK$25,676,000, compared to a loss of HK$3,402,000 in the prior year, marking a substantial improvement[10] - Total comprehensive income for the period was HK$28,101,000, compared to a loss of HK$25,000 in the same period last year[10] - The company reported basic and diluted earnings per share of 7.53 HK cents, a significant recovery from a loss of 0.97 HK cents per share in the prior year[10] Assets and Liabilities - Non-current assets increased to HK$42,927,000 as of September 30, 2025, up from HK$33,229,000 as of March 31, 2025[12] - Current assets rose to HK$246,854,000, compared to HK$189,391,000 at the end of March 2025, reflecting a growth of 30%[12] - Net current assets improved to HK$117,025,000, up from HK$89,545,000 as of March 31, 2025[12] - Total equity increased to HK$149,384,000, compared to HK$122,074,000 at the end of the previous fiscal year[12] - Trade receivables as of September 30, 2025, totaled HK$172,000, a decrease from HK$8,705,000 as of March 31, 2025[66] - Finished goods inventory increased to HK$161,177,000 as of September 30, 2025, compared to HK$62,224,000 as of March 31, 2025[62] - Trade payables as of September 30, 2025, were HK$60,818,000, slightly down from HK$61,515,000 as of March 31, 2025[69] - Current liabilities increased to approximately HK$129.8 million as of September 30, 2025, compared to HK$99.8 million as of March 31, 2025, maintaining a current ratio of approximately 1.9 times[109] Cash Flow - For the six months ended 30 September 2025, the net cash used in operating activities was HK$45,007,000, compared to HK$8,136,000 for the same period in 2024, indicating a significant increase in cash outflow[16] - The cash and cash equivalents at the end of the period were HK$19,217,000, a decrease from HK$72,102,000 at the end of September 2024[16] - The company reported a net cash used in investing activities of HK$8,055,000 for the six months ended 30 September 2025, compared to a net cash generated of HK$91,000 in the same period of 2024[16] Revenue Sources - Revenue from the gold processing and trading business for the six months ended September 30, 2025, was HK$319,444,000, a significant increase from HK$71,200,000 in the same period of 2024, representing a growth of 348%[31] - Revenue from gold ore processing was approximately HK$244.8 million during the reporting period, a substantial increase from HK$10.1 million in the corresponding period, primarily due to the resumption of gold ore production in Henan[90] - The Group has recorded approximately HK$74.6 million revenue from gold-laden carbon processing during the reporting period, compared to HK$61.1 million in the corresponding period[89] Expenses - The cost of sales increased by approximately HK$208.2 million or approximately 321.8%, from approximately HK$64.7 million for the corresponding period to approximately HK$272.9 million for the reporting period[91] - Administrative and other operating expenses increased by approximately HK$0.3 million or 3.6% from approximately HK$10.1 million for the corresponding period to approximately HK$10.4 million for the reporting period[99] - Total staff costs for the six months ended September 30, 2025, were HK$5,853,000, slightly up from HK$5,783,000 in 2024[52] Taxation - The PRC Enterprise Income Tax for the current period was HK$10,484,000, a significant increase from HK$523,000 in the same period of 2024[48] - Income tax expenses significantly increased from approximately HK$0.5 million for the corresponding period to approximately HK$10.5 million for the reporting period, mainly due to increased profit before income tax[101] Shareholder Information - The Group did not recommend any dividend payment for the six months ended September 30, 2025, and 2024[53] - The Company did not declare any interim dividend for the reporting period, consistent with the previous period where no dividend was declared[150] - The number of issued ordinary shares remained stable at 349,519,567 as of September 30, 2025, unchanged from March 31, 2025[73][75] Corporate Governance - The company has complied with the Corporate Governance Code throughout the reporting period, with a change in the Nomination Committee to include a female director effective September 30, 2025[158][163] - The Audit Committee is responsible for overseeing the Group's financial reporting, risk management, and internal control systems, composed of three Independent Non-Executive Directors[168] - The Remuneration Committee is responsible for reviewing and recommending the remuneration of Directors and senior management, consisting of two Independent Non-Executive Directors and one Executive Director[161][166] Share Repurchase - The Company repurchased 1,320,000 Shares during the Reporting Period for an aggregate consideration of HK$791,000[176] - The repurchased Shares represent approximately 3.77% of the total number of issued Shares as of the resolution date[175] - The Directors believe that the repurchase will increase the net asset value per Share and/or earnings per Share, benefiting Shareholders in the long term[181] Future Outlook - The Group's revenue saw a significant increase due to the resumption of operations in Henan, with expectations of continued revenue rebound throughout the year[125] - The Group plans to invest in upgrading leased plants and acquiring machinery for its gold processing and trading business, with a timeline for remaining proceeds utilization expected by March 31, 2026[119] - Gold prices have continued to rise, driven by strong central bank and investor demand, with expectations for this trend to continue[122]
胜龙国际(01182) - 2026 - 中期财报