Financial Performance - For the six months ended September 30, 2025, the revenue was HK$75,547,000, a decrease of 6.4% compared to HK$79,060,000 for the same period in 2024[18]. - Gross profit for the six months ended September 30, 2025, was HK$2,344,000, compared to a gross loss of HK$2,509,000 in the previous year[20]. - The loss for the period was HK$7,751,000, down from HK$15,547,000, indicating a significant improvement of 50.2%[20]. - The loss before taxation improved to HK$7,735,000, compared to a loss of HK$15,543,000 in the same period last year, representing a 50.3% reduction[20]. - The Group recorded a net loss of approximately HK$7.8 million for the six months ended 30 September 2025, an improvement from a net loss of approximately HK$15.5 million for the same period in 2024, reflecting a recovery in global economic conditions and increased trade activities[125]. Revenue and Income - Other income increased to HK$128,000 from HK$62,000, reflecting a growth of 106.5%[20]. - Revenue from freight forwarding and related logistics services was HK$75,547,000, while trading of fashion items generated no revenue during the period[49][56]. - The Group's revenue from Hong Kong, its place of domicile, was entirely derived from freight forwarding and related logistics services, amounting to HK$75,547,000[56]. - Total revenue decreased by approximately 4.4% from approximately HK$79.0 million in the previous period to approximately HK$75.5 million in the review period[138]. Expenses and Costs - The cost of services for the same period was HK$73,203,000, down from HK$81,569,000, indicating a reduction of 10.3%[20]. - Sales and marketing expenses decreased to HK$1,312,000, down 33.8% from HK$1,983,000 in the previous period[20]. - Administrative expenses were reduced to HK$8,045,000, a decrease of 27.3% compared to HK$11,026,000 in the previous year[20]. - Finance costs increased to HK$1,062,000 from HK$189,000, showing a significant rise attributed to increased borrowing costs[20]. - Depreciation of property, plant, and equipment decreased significantly to HK$278,000 from HK$923,000 in the previous period, reflecting a reduction of approximately 70%[62]. Assets and Liabilities - The company's net assets decreased to HK$28,825,000 as of September 30, 2025, down from HK$36,576,000 as of March 31, 2025, reflecting a decline of approximately 21%[22]. - Current assets decreased to HK$49,420,000 from HK$71,166,000, a reduction of about 30% over the six-month period[22]. - Trade and other receivables decreased to HK$39,862,000 from HK$55,655,000, a decline of about 29%[22]. - Trade payables as of September 30, 2025, were HK$12,274,000, down 45.3% from HK$22,413,000 as of March 31, 2025[87]. - Current liabilities for trade and other payables decreased from HK$25,401,000 to HK$14,353,000, a reduction of 43.5%[87]. Cash Flow - For the six months ended September 30, 2025, net cash used in operating activities was HK$1,658,000, a significant improvement from HK$12,199,000 in the same period of 2024[29]. - The Group reported a net cash outflow from investment activities of HK$1,093,000, compared to a net inflow of HK$2,066,000 in the previous year[29]. - Cash and cash equivalents at the end of the period were HK$9,558,000, up from HK$6,785,000 at the end of the same period last year[29]. Share Capital and Financing - The authorized share capital of the company is HK$100,000,000, divided into 1,000,000,000 consolidated shares of HK$0.10 each[104]. - The company issued 24,956,600 new shares at a placing price of HK$0.137 per share, representing approximately 16.67% of the issued share capital as of 31 March 2025[114]. - The share consolidation was approved by shareholders on 15 January 2025 and became effective on 17 January 2025[107]. - The Group obtained a loan of HK$3,500,000 from a local financial institution during the review period, compared to no loans as of March 31, 2024[99]. Strategic Outlook - The Company is cautiously optimistic about future business opportunities in logistics, supported by coordinated efforts from the Central Government of the PRC and the Hong Kong Government[129]. - The management acknowledges the need to rethink strategies for the fashion items trading segment due to a significant slowdown in the global luxury goods market[130]. - The Group is seeking to diversify its business areas to reduce reliance on existing logistics businesses and broaden its revenue base[130].
万励达(08482) - 2026 - 中期财报