Financial Performance - Revenue for the six months ended September 30, 2025, was HK$78,701,000, a decrease of 11.5% compared to HK$88,524,000 for the same period in 2024[10] - Gross profit for the same period was HK$46,029,000, down 15.7% from HK$54,580,000 in 2024[10] - Loss for the period was HK$1,597,000, an improvement from a loss of HK$2,614,000 in the previous year, indicating a reduction of 38.7%[14] - Total comprehensive income for the period was HK$3,160,000, compared to HK$4,094,000 in 2024, reflecting a decrease of 22.8%[14] - The company reported a basic and diluted loss per share of 0.6 cents, an improvement from 1.3 cents in the previous year[10] - The Group's loss from operations was reduced to HK$488,000, compared to HK$1,204,000 in the same period last year, reflecting effective cost-saving measures[126] Assets and Liabilities - Non-current assets increased to HK$348,242,000 as of September 30, 2025, from HK$343,627,000 as of March 31, 2025[19] - Current assets totaled HK$163,605,000, slightly up from HK$162,149,000 as of March 31, 2025[19] - Net current assets decreased to HK$83,185,000 from HK$99,159,000, a decline of 16.1%[19] - Total equity attributable to equity shareholders of the Company was HK$400,399,000, down from HK$413,157,000[19] - The Group's reportable segment assets as of September 30, 2025, totaled $786,690,000, a slight decrease from $789,042,000 as of March 31, 2025[50] - The reportable segment liabilities as of September 30, 2025, were $459,805,000, compared to $464,524,000 as of March 31, 2025, indicating a reduction of 1%[50] Cash Flow - For the six months ended September 30, 2025, cash generated from operations was HK$17,845,000, an increase of 46.5% compared to HK$12,189,000 for the same period in 2024[27] - The net cash generated from operating activities was HK$18,164,000, up from HK$12,214,000, reflecting a growth of 48.5% year-over-year[27] - Cash and cash equivalents at the end of the period were HK$99,176,000, a slight decrease from HK$101,985,000 at the end of the previous period[27] - The net cash used in financing activities was HK$15,573,000, a decrease from HK$18,110,000, indicating improved cash management[27] Dividends - The company declared dividends payable of HK$16,586,000 for the period, with no dividends payable in the previous year[19] - The final dividend of 10 cents per ordinary share for the year ended March 31, 2025, amounted to $16,586,000, approved on September 26, 2025[67] - No interim dividend was declared for the period ending September 30, 2025, consistent with the previous year[116] Revenue Streams - The group operates a distribution network of 34 sales points, with 29 in Hong Kong and 5 in Macau, and is cautious about expanding its store network[117] - The printing and related services segment saw a slight revenue increase to HKD 13,645,000 from HKD 13,495,000 in the previous year[117] - Royalty income increased significantly to HKD 845,000 from HKD 390,000 year-on-year[108] - Sales of garment products reached HKD 3,376,000, marking a new revenue stream for the group[108] Cost Management - The overall gross profit margin declined to 58.5% from 61.7% year-on-year, while distribution costs decreased by 17.0% and administrative expenses were reduced by 26.2%[126] - Finance costs for the six months ended September 30, 2025, decreased to $1,117,000 from $1,330,000 in 2024, representing a reduction of approximately 16%[59] - Depreciation expenses for the six months ended September 30, 2025, amounted to $14,112,000, a decrease from $17,673,000 in 2024[53] Intellectual Property and Licensing - The Group holds global intellectual property rights for Guy Laroche and Ashworth, with the latter operating with four licensees, indicating a strategic focus on leveraging intellectual property for growth[123] - The trademark licensing agreement allows Citimark Trading to promote and sell licensed products exclusively in the PRC, including online sales[149] - The minimum royalty fees for Citimark Trading are set to increase annually, starting from USD 250,000 (equivalent to HKD 1,950,000) for the year ending May 31, 2025, to USD 500,000 (equivalent to HKD 3,900,000) for the year ending May 31, 2029[151] Corporate Governance - The audit committee has reviewed the unaudited interim financial statements of the Group for the period ended September 30, 2025[174] - The company has adhered to corporate governance practices as outlined in Appendix 14 of the Listing Rules throughout the period ended September 30, 2025[175] - No significant contracts involving directors' material interests were in effect at the end of the period or during the review period[168]
YGM TRADING(00375) - 2026 - 中期财报