Financial Performance - The company's revenue for the six months ended September 30, 2025, was HKD 26,312,000, a decrease of 8.1% compared to HKD 28,626,000 for the same period in 2024[6] - Gross profit for the same period was HKD 3,356,000, down 34.1% from HKD 5,091,000 in 2024[6] - The company reported a loss before tax of HKD 4,009,000, compared to a loss of HKD 1,904,000 in the previous year, indicating a significant increase in losses[6] - Basic and diluted loss per share for the period was HKD 0.07, compared to HKD 0.06 in 2024[6] - The group reported a loss attributable to owners of the company of HKD 4,009,000 for the six months ended September 30, 2025, compared to a loss of HKD 1,904,000 in the same period of 2024[30] - The pre-tax loss increased by approximately 110.6%, from about HKD 1.9 million to about HKD 4.0 million, mainly due to a decrease in gross profit[47] Assets and Liabilities - Total assets as of September 30, 2025, were HKD 51,098,000, an increase from HKD 34,059,000 as of March 31, 2025[8] - The company's equity attributable to owners was HKD 26,353,000 as of September 30, 2025, compared to HKD 891,000 as of March 31, 2025[8] - Trade receivables as of September 30, 2025, amounted to HKD 30,731,000, a decrease from HKD 32,773,000 as of March 31, 2025[33] - Trade payables decreased to HKD 8,454,000 from HKD 12,836,000 as of March 31, 2025, indicating improved cash flow management[35] - Other borrowings included an outstanding balance of HKD 8,367,000 from a loan of HKD 20,000,000, with an interest rate of 4%[38] Cash Flow - The company's cash and bank balances increased to HKD 19,714,000 from HKD 322,000 at the end of March 2025[8] - The net cash generated from financing activities was HKD 28,065,000, while cash used in operating activities was HKD 8,673,000[12] - The group has cash and bank balances of approximately HKD 19.7 million as of September 30, 2025, compared to about HKD 0.3 million as of March 31, 2025[51] Operational Highlights - The company has not reported any new product developments or market expansions in the current period[6] - There are no indications of mergers or acquisitions in the recent financial report[6] - The group did not declare any dividends for the current period, consistent with the previous year[29] - The company employed approximately 22 employees as of September 30, 2025, down from 27 employees as of March 31, 2025[61] Financing and Capital Structure - Financing costs decreased significantly to HKD 51,000 from HKD 284,000 in the previous year, representing an 82.0% reduction[25] - The company proposed a capital reorganization on December 20, 2024, including a share consolidation where every 8 existing shares of HKD 0.2 will be consolidated into 1 share of HKD 1.6[53] - The company plans to raise approximately HKD 30.7 million through a rights issue, offering 105,762,360 shares at a subscription price of HKD 0.29 per share[53] - As of September 30, 2025, the net proceeds from the rights issue amounted to approximately HKD 29.5 million, with only HKD 3.6 million utilized for various purposes[54] - The actual amounts utilized from the net proceeds include HKD 1.8 million for repaying other borrowings and HKD 0.4 million for employee salaries[54] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[86] - The company has adopted the GEM listing rules as the code of conduct for securities trading by directors, with no known non-compliance events during the reporting period[82] - The company has established a governance framework in accordance with the GEM listing rules and regularly reviews its governance practices[80] - There are no known interests or short positions in shares or related securities held by any major shareholders or directors as of September 30, 2025[79] Share Option Scheme - The company has adopted a share option scheme to incentivize eligible participants based on their contributions to the group[66] - The total number of shares available for issuance under the share option scheme is capped at 10% of the total issued shares as of September 30, 2025, which is approximately 1,320,295 shares[69] - The share option scheme will remain effective for a period of ten years from its adoption date, expiring on December 27, 2027[71] - The minimum vesting period for share options is 12 months, with potential for shorter vesting under certain performance-based conditions[74] - The company has not issued any unexercised share options, warrants, or convertible securities as of September 30, 2025[75]
民信国际控股(08456) - 2026 - 中期财报