Revenue Growth - The company's revenue increased by 25.6% from approximately HKD 64.4 million to about HKD 80.9 million for the six months ending October 31, 2025[7]. - Revenue from the traditional segment rose by 34.9% from approximately HKD 41.0 million to about HKD 55.3 million, driven by increased sales orders from major UK clients[5][8]. - The new retail segment's revenue grew by 7.1% from approximately HKD 18.4 million to about HKD 19.7 million, benefiting from providing relevant products to customers[9]. - The institutional catering segment recorded a 15.7% increase in revenue from approximately HKD 5.1 million to HKD 5.9 million, supported by high customer satisfaction[10]. - Revenue for the six months ended October 31, 2025, was HKD 80,906,000, an increase of 25.7% compared to HKD 64,393,000 for the same period in 2024[41]. - Revenue from women's clothing was HKD 66,724,000 for the six months ended October 31, 2025, compared to HKD 51,060,000 in 2024, reflecting a growth of about 30.6%[57]. - The institutional catering service segment reported revenue of HKD 5,933,000 for the six months ended October 31, 2025, compared to HKD 5,059,000 in 2024, marking an increase of approximately 17.2%[53][54]. Profitability and Loss - Gross profit increased by 55.9% from approximately HKD 6.8 million to about HKD 10.6 million, with a gross margin of approximately 13.1%[12]. - The group recorded a loss of approximately HKD 5.8 million for the period, a decrease from a loss of about HKD 9.0 million for the six months ended October 31, 2024, primarily due to increased revenue and gross profit from supplying apparel products and catering services[17]. - Total comprehensive expenses attributable to the company's owners decreased to approximately HKD 5.3 million from about HKD 8.9 million for the six months ended October 31, 2024, reflecting ongoing economic slowdown and intense competition in the fashion retail and wholesale market[18]. - Basic loss per share for the period was approximately HKD 0.18, down from HKD 0.28 for the six months ended October 31, 2024, consistent with the reduction in losses[19]. - The group reported a loss before tax of HKD 5,801,000 for the six months ended October 31, 2025, an improvement from a loss of HKD 9,121,000 in the same period of 2024[62]. - The group experienced a net loss of HKD 5,027,000 from its segments for the six months ended October 31, 2025, compared to a loss of HKD 7,851,000 in the previous year, indicating a reduction in losses by approximately 36%[53][54]. Expenses and Costs - Selling and service costs rose by 22.2% to approximately HKD 70.4 million, consistent with revenue growth[11]. - Administrative expenses increased by approximately 9.9% from about HKD 8.1 million to HKD 8.9 million, primarily due to higher employee costs[15]. - Sales and distribution expenses increased from approximately HKD 7.1 million to about HKD 7.6 million, representing a growth of approximately 7.0% due to increased employee costs[16]. - The company incurred no new bank borrowings during the six months ended October 31, 2025, maintaining existing borrowings for general working capital[76]. - The company made capital expenditures of HKD 81,000 thousand on property, plant, and equipment during the six months ended October 31, 2025, compared to HKD 13,000 thousand for the same period in 2024[70]. Financial Position - Total assets as of October 31, 2025, were HKD 80,212,000, down from HKD 96,460,000 as of April 30, 2025[42]. - Current liabilities decreased to HKD 20,488,000 from HKD 32,872,000, indicating improved liquidity management[42]. - The company's equity as of October 31, 2025, was HKD 77,790,000, down from HKD 83,110,000 as of April 30, 2025[43]. - Trade receivables decreased to HKD 31,263 thousand as of October 31, 2025, down from HKD 44,387 thousand as of April 30, 2025, reflecting a reduction of approximately 29.5%[71]. - Total trade and other receivables amounted to HKD 48,820 thousand as of October 31, 2025, compared to HKD 65,494 thousand as of April 30, 2025, indicating a decline of about 25.5%[71]. - Trade payables were reported at HKD 10,945 thousand as of October 31, 2025, a decrease from HKD 12,284 thousand as of April 30, 2025, representing a reduction of approximately 10.9%[73]. Risk Management and Compliance - The group faces several risks, including reliance on major clients without long-term contracts, which exposes revenue to uncertainty and potential fluctuations[21]. - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with the standards set out in the listing rules[27]. - The company confirmed compliance with the non-competition agreement for the six months ending October 31, 2025[30]. - The company has established an audit and risk management committee, consisting of three independent non-executive directors, to oversee financial reporting and internal controls[35]. - The company has complied with all provisions of the corporate governance code, except for the separation of the roles of chairman and CEO[32]. Future Outlook - The company aims to expand its market share in the institutional catering business by offering diverse high-value menu options and customer-centric services[10]. - The company plans to continue expanding its fashion-related business and gradually scale up its catering services to achieve sustainable profit growth amid increasing global economic uncertainty[20]. Other Information - The company recorded a net foreign exchange gain of approximately HKD 84,000 during the period, compared to a net gain of about HKD 404,000 in the previous period[13]. - The provision for impairment losses on trade receivables was approximately HKD 42,000, significantly lower than the HKD 1.7 million recorded in the previous period[14]. - The company did not declare or propose any dividends for the six months ended October 31, 2025, consistent with the previous period[67]. - There have been no significant events affecting the group after the six months ending October 31, 2025[33]. - The company's financial statements for the six months ending October 31, 2025, were reviewed and found to comply with applicable accounting standards[39]. - The independent auditor did not identify any issues that would lead to a belief that the financial statements were not prepared in accordance with the relevant accounting standards[39].
桦欣控股(01657) - 2026 - 中期业绩