Financial Position - As of September 30, 2025, the group's current liabilities exceeded current assets by HKD 88,039,000[11]. - The group violated bank loan covenants amounting to HKD 39,613,000 as of September 30, 2025[11]. - Total assets as of September 30, 2025, were HKD 158,811,000, an increase from HKD 156,099,000 as of March 31, 2025[14]. - Total liabilities decreased to HKD 138,505,000 from HKD 143,865,000, indicating improved financial stability[14]. - The company has a financial covenant to maintain tangible net worth at or above HKD 30,000,000, which it failed to comply with as of September 30, 2025[58]. - Bank borrowings amounted to HKD 50,888,000 as of September 30, 2025, a decrease from HKD 54,503,000 as of March 31, 2025[57]. - The debt-to-equity ratio was 571% as of September 30, 2025, significantly improved from 1,026% on March 31, 2025[96]. Financial Performance - Revenue for the six months ended September 30, 2025, was HKD 103,365,000, an increase of 5% compared to HKD 98,072,000 for the same period in 2024[13]. - Profit before tax for the six months ended September 30, 2025, was HKD 7,636,000, compared to a loss of HKD (2,386,000) in 2024[13]. - Net profit for the period was HKD 7,678,000, a significant recovery from a loss of HKD (2,143,000) in the previous year[13]. - Basic and diluted earnings per share for the period were HKD 0.83, compared to a loss of HKD (0.25) per share in 2024[13]. - The group reported a profit before tax of HKD 7,636,000 for the six months ended September 30, 2025, recovering from a loss of HKD 2,386,000 in the same period of 2024[29][31]. - The gross profit from operating restaurants and bars was HKD 77.6 million, up 6.6% from HKD 72.8 million, with a stable gross profit margin of 75.4%[77]. Cash Flow and Liquidity - Cash generated from operating activities for the six months was HKD 30,603,000, up from HKD 22,099,000 in 2024, showing a 38% increase[19]. - The company’s cash and cash equivalents at the end of the period were HKD (469,000), down from HKD 1,454,000 in the previous year[19]. - Cash and cash equivalents amounted to HKD 2.7 million as of September 30, 2025, up from HKD 2.0 million on March 31, 2025[96]. Corporate Governance - The company has adopted a strict code of conduct for securities trading by directors, in compliance with GEM Listing Rules[123]. - The board will continue to review the effectiveness of the corporate governance structure, including the separation of the roles of Chairman and CEO[122]. - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period, except for the aforementioned role overlap[121]. - The Chairman and CEO roles are currently held by the same individual, which the board believes ensures consistency in leadership[121]. Strategic Plans and Future Outlook - The company plans to continue focusing on market expansion and product development to drive future growth[13]. - The company aims to create significant and sustainable long-term value for shareholders through strategic investments and the launch of the innovative Box Pacific project[71]. - The company plans to maintain its core bar business and brand strategy while targeting market share growth in Hong Kong and mainland China[101]. Shareholder Information - Moment to Moment Company Limited holds 431,543,700 shares, representing approximately 49.62% of the company's issued share capital[118]. - Major shareholder Xie holds 431,555,794 shares, accounting for 49.63% of the issued share capital[116]. - Major shareholder Chen holds 456,468,738 shares, which is 52.49% of the issued share capital[116]. - The shareholding structure indicates a concentrated ownership with significant influence from a few key individuals[116]. Employee and Operational Metrics - The total employee costs for the six months ended September 30, 2025, were HKD 34,720,000, an increase from HKD 32,415,000 in the same period of 2024[44]. - Employee costs rose by 7.1% to HKD 34.7 million from HKD 32.4 million, driven by the hiring of more full-time staff due to the increase in bar locations[80]. - As of September 30, 2025, the company operates 57 bars/restaurants across Hong Kong and mainland China, focusing on different target customers with brands like "Pacific Bar" and "Moon Ocean"[71]. Audit and Compliance - The financial statements were prepared in accordance with Hong Kong Accounting Standard 34, ensuring compliance with relevant regulations[10]. - The independent auditor's report confirms that the financial statements are accurate and complete, with no misleading information[10]. - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the period[129].
太平洋酒吧(08432) - 2026 - 中期财报