Financial Performance - Revenue for the six months ended September 30, 2025, was HK$1,770,284, an increase of 3.2% from HK$1,716,129 in the same period of 2024[6] - Gross profit for the period was HK$416,092, slightly up from HK$413,499, reflecting a gross margin of approximately 23.5%[6] - Profit before tax decreased to HK$24,921, down 16.5% from HK$29,681 in the previous year[6] - Profit for the period was HK$11,188, a decline of 38.7% compared to HK$18,274 in the same period last year[8] - Earnings per share attributable to ordinary equity holders decreased to HK3.4 cents from HK5.3 cents[6] - Total comprehensive income for the period was HK$22,678, down from HK$30,669 in the previous year[8] - The company reported total comprehensive income for the period of HK$24,457,000 for the six months ended September 30, 2025[14] - Profit before tax for the six months ended September 30, 2025, was HK$24,921,000, a decrease of 16.5% compared to HK$29,681,000 for the same period in 2024[17] - Profit attributable to ordinary equity holders for the six months ended 30 September 2025 is HK$13,080,000, a decrease of 36.1% from HK$20,462,000 in 2024[72] - Profit attributable to equity holders for the same period was HK$13,080,000, down from HK$20,462,000 in 2024, reflecting a challenging business environment[105] Assets and Liabilities - Non-current assets totaled HK$1,360,512 as of September 30, 2025, a decrease from HK$1,372,507 as of March 31, 2025[10] - Current assets amounted to HK$1,764,950, down from HK$1,800,258 as of March 31, 2025[10] - Total current liabilities increased to HK$1,621,796,000 as of September 30, 2025, compared to HK$1,558,899,000 as of March 31, 2025, reflecting a rise of 4.0%[12] - Net current assets decreased to HK$143,154,000 from HK$241,359,000, indicating a decline of 40.7%[12] - Total non-current liabilities decreased to HK$286,449,000 from HK$393,995,000, representing a reduction of 27.2%[12] - Total equity attributable to equity holders of the Company was HK$1,196,714,000 as of September 30, 2025, slightly down from HK$1,197,129,000 as of March 31, 2025[12] - Total assets as of September 30, 2025, amounted to HK$3,125,462,000, with segment assets of HK$1,431,703,000 for Hong Kong, HK$717,784,000 for Mainland China, and HK$450,647,000 for Japan[37] - The total liabilities as of September 30, 2025, were HK$1,908,245,000, with segment liabilities of HK$477,626,000 for Hong Kong, HK$279,908,000 for Mainland China, and HK$277,929,000 for Japan[37] Cash Flow and Liquidity - Cash and cash equivalents decreased to HK$524,044 from HK$631,977, indicating a reduction in liquidity[10] - Cash generated from operations increased to HK$59,820,000, up 38.5% from HK$43,194,000 year-over-year[17] - Net cash flows from operating activities rose to HK$44,546,000, compared to HK$31,023,000 in the previous year, reflecting a 43.8% increase[17] - Net cash flows used in investing activities improved to HK$26,395,000, a reduction of 39.5% from HK$43,613,000 in the prior period[19] - Cash and cash equivalents at the end of the period decreased to HK$524,044,000 from HK$569,875,000, reflecting a decline of 8.0%[19] - Interest received decreased to HK$1,481,000 from HK$3,318,000, a drop of 55.5% year-over-year[17] - Dividends paid remained stable at HK$24,705,000 compared to HK$24,974,000 in the previous year[19] Segment Performance - Segment revenue for Hong Kong was HK$855,306,000, for Mainland China was HK$295,484,000, and for Japan was HK$619,494,000, totaling HK$1,770,284,000 for the six months ended September 30, 2025[32] - The Hong Kong segment reported a profit before tax of HK$48,658,000, while the Mainland segment incurred a loss of HK$2,939,000, and Japan contributed HK$1,642,000, leading to a total profit before tax of HK$24,921,000[32] - Revenue from contracts with customers for the six months ended September 30, 2025, was HK$1,770,284,000, an increase from HK$1,716,129,000 in 2024, representing a growth of 3.2%[41] - Revenue from Hong Kong for the same period was HK$855,306,000, up from HK$838,566,000, indicating a growth of 2.0%[41] - Revenue from the Chinese Mainland increased to HK$295,484,000 from HK$294,368,000, a slight increase of 0.4%[41] Dividends and Share Repurchase - The final dividend declared for 2025 was HK$24,705,000, consistent with the company's dividend policy[14] - The interim dividend declared remained at HK3.0 cents per ordinary share, totaling HK$11,401,000, slightly down from HK$11,526,000 in 2024[62] - The Company repurchased 66,000 ordinary shares during the six months ended September 30, 2025, compared to 34,000 shares in 2024[63] - The company repurchased a total of 72,000 shares from August to October 2025, with an aggregate consideration of HK$181,800[178] - The repurchase of shares aimed to enhance the net asset value per share and earnings per share for shareholders[181] Corporate Governance and Compliance - The Company has maintained high standards of corporate governance, meeting the code provisions of the Corporate Governance Code for the six months ended 30 September 2025[183] - All directors confirmed compliance with the Model Code for securities transactions throughout the six months ended 30 September 2025[184] - No incidents of non-compliance with the Employees Code were noted during the six months ended 30 September 2025[185] - The Audit Committee reviewed the unaudited condensed consolidated interim financial statements for the six months ended 30 September 2025[189] - The interim results announcement for 2025 was published on the Hong Kong Exchanges and Clearing Limited website and the Company's website[190] Market Strategy and Expansion - The Group aims to expand its product offerings by sourcing high-quality Japanese food items, including eggs and dairy products, to meet changing consumer preferences[114] - The Group plans to continue expanding its market presence and product offerings in the snack food and beverage sectors across all regions[32] - The Group's innovative approach in the retail market has positioned it as a leader in the food industry, with a business footprint extending to developed economies like the US, UK, France, and Canada[123][126] - The Group is collaborating with Guangzhou Hua Shang College to launch an online sales program for students, promoting entrepreneurship through e-commerce[137] - The Japanese market is a key driver of the Group's growth, with significant partnerships with major supermarket and convenience store chains[139] Employee and Management Information - The total number of employees as of September 30, 2025, was approximately 2,500, with remuneration packages structured based on market terms and individual qualifications[154] - Total compensation for key management personnel was HK$6,332,000 for the six months ended September 30, 2025, down from HK$6,891,000 in 2024[101] Risk Management - The Group's foreign currency exposure mainly arises from transactions in Japanese yen and Renminbi, which may impact operating results due to currency fluctuations[152] - The Group does not currently maintain a foreign currency hedging policy to mitigate the impact of unfavorable currency fluctuations[153] - The Group's foreign exchange position is monitored continuously to minimize the impact of currency fluctuations[153]
四洲集团(00374) - 2026 - 中期财报