Financial Performance - The group recorded revenue of HKD 1,196,901,000 for the six months ended October 31, 2025, a decrease of 5.8% compared to HKD 1,270,635,000 for the same period in 2024/25[6] - Profit attributable to equity holders of the company was HKD 27,487,000, down 16.6% from HKD 32,959,000 in 2024/25[6] - Gross profit for the same period was HKD 545,250, down 8.6% from HKD 596,681 in 2024[25] - Operating profit decreased to HKD 40,027, a decline of 14.5% from HKD 46,858 in the previous year[25] - Net profit for the period was HKD 24,687, down 17.4% from HKD 30,016 in 2024[25] - Basic earnings per share decreased to HKD 3.84, down 16.2% from HKD 4.58 in the previous year[25] - Operating profit for the six months ended October 31, 2025, was HKD 27,487, a decrease of 16.6% from HKD 32,959 in the same period of 2024[54] - Basic earnings per share for the six months ended October 31, 2025, were HKD 3.84, down from HKD 4.58 in the same period of 2024, representing a decline of approximately 16.1%[54] - Diluted earnings per share for the same period were HKD 3.83, compared to HKD 4.57 in 2024, reflecting a decrease of about 16.2%[56] Cash and Liquidity - The group's cash and cash equivalents stood at HKD 324,355,000 as of October 31, 2025, compared to HKD 284,560,000 on April 30, 2025[8] - Cash and cash equivalents increased to HKD 324,355 as of October 31, 2025, up from HKD 284,560 as of April 30, 2025, representing an increase of approximately 14.0%[48] - The company’s cash and cash equivalents are expected to support ongoing business development while maintaining a robust financial position[64] Operational Efficiency - The group maintained a current ratio of 1.8 as of October 31, 2025, up from 1.7 on April 30, 2025[9] - Total employee costs decreased by 9.3% to HKD 180,915,000 for the period, down from HKD 199,383,000 in 2024/25[10] - The group has implemented strict cost control measures to manage high operational costs and maintain profitability[10] - Strict cost control measures are being implemented to optimize procurement, rent, and human resources, ensuring efficient resource utilization[23] - The company is enhancing data management and operational efficiency through automation and technology tools[23] Revenue Breakdown - Retail sales revenue, including consignment commission income, reached HKD 1,188,533,000, accounting for 99.3% of total revenue, compared to 99.0% in 2024/25[13] - Revenue from Hong Kong was HKD 1,031,144,000, down 6.3% from HKD 1,099,958,000 (2024/25), accounting for 86.2% of total revenue[15] - Macau business achieved revenue of HKD 24,943,000, an increase of 9.9% from HKD 22,691,000 (2024/25)[16] - Singapore revenue declined by 4.8% to HKD 140,814,000 (2024/25: HKD 147,986,000)[17] - For the six months ended October 31, 2025, total segment revenue was HKD 1,196,901,000, with a breakdown of HKD 1,047,719,000 from retail in Hong Kong and Macau, HKD 140,814,000 from retail in Singapore, and HKD 8,368,000 from wholesale and franchising[41] Strategic Initiatives - The group plans to continue expanding its online and offline retail network, enhancing the customer shopping experience through integrated services[11] - The company plans to enhance its product mix in Singapore, focusing on high-demand products while phasing out slow-moving items[17] - The company aims to accelerate reforms and enhance service marketing, brand elevation, and convenient shopping to respond to market demands[19] - The introduction of the "Value for Money" product series and "New Low Price" promotional strategy has effectively increased store foot traffic[19] - The company will strengthen its OEM product development to enhance product competitiveness and profit structure[22] - The company plans to deepen reforms and enhance brand value while strengthening service marketing and operational efficiency[24] - The group aims to respond actively to challenges and seize opportunities to consolidate core competitiveness[24] Governance and Compliance - The company’s audit committee has reviewed the interim results, ensuring compliance with relevant financial reporting standards[62] - The company has adopted corporate governance practices in line with the listing rules, emphasizing the importance of good governance in management[61] - The group plans to adopt the new HKFRS 18 standard effective January 1, 2027, which will require restatement of comparative information for the fiscal year ending December 31, 2026[37] - Management is currently assessing the specific impact of the new standards on the group’s consolidated financial statements[37] Shareholder Actions - The company declared an interim dividend of HKD 3.0 per share, totaling approximately HKD 21,397,000, down from HKD 28,800,000 in the previous year[60] - The company repurchased a total of 3,000,000 shares at a cost of approximately HKD 2,498,000 during the period, indicating a strategy to enhance shareholder value[64] Store Operations - The group operated a total of 352 stores as of October 31, 2025, a net decrease of 15 stores from 367 on April 30, 2025[12] - The group’s largest customer accounted for less than 10% of total revenue for both the six months ended October 31, 2025, and 2024[44] Directors and Management - The executive directors include Ms. Wei Lixia, Mr. Liu Baihui, and Mr. Zheng Shengxu[69] - The independent non-executive directors are Mr. Meng Yongming, Mr. Wu Shiyuan, and Mr. Yang Yaoqiang[69] - The announcement date is December 19, 2025[69]
国际家居零售(01373) - 2026 - 中期业绩