Financial Performance - Revenue for the six months ended September 30, 2022, was HK$199,522,000, an increase of 23.3% from HK$161,671,000 in the same period of 2021[10]. - Gross profit for the period was HK$39,621,000, compared to HK$25,441,000 in the previous year, reflecting a gross margin improvement[10]. - Profit for the period was HK$7,821,000, a decrease of 3.5% from HK$8,103,000 in the prior year[10]. - Basic and diluted earnings per share remained stable at HK$0.04, unchanged from the previous year[10]. - Total comprehensive income for the period was a loss of HK$66,194,000, compared to a gain of HK$18,974,000 in the same period last year[15]. - The company reported a profit for the period of HK$7,821,000 for the six months ended September 30, 2022, down from HK$8,494,000 in the previous year, reflecting a decrease of approximately 7.9%[25]. - The company reported a total comprehensive income of HK$7,821,000 for the period, compared to HK$19,369,000 in the previous year, indicating a significant decrease of approximately 59.6%[25]. - The consolidated profit before taxation for the six months ended September 30, 2022, was HKD 9,522,000, compared to HKD 8,450,000 in the same period of 2021, showing an increase of about 12.7%[64]. - Profit before taxation for the same period was $5,183,000, down from $6,891,000 in 2021, indicating a decrease of 24.8%[75]. - Profit attributable to equity shareholders decreased by 8% to HK$7,821,000 compared to HK$8,494,000 last year[162]. Revenue Breakdown - Revenue from the manufacture and sale of garments was HK$190,161,000, up from HK$144,981,000, reflecting a growth of 31.0% year-on-year[51]. - For the six months ended September 30, 2022, the revenue from external customers for the manufacturing and sale of garments and textiles was HKD 196,519,000, an increase from HKD 158,648,000 in the same period of 2021, representing a growth of approximately 24%[59]. - Revenue for the six months ended September 30, 2022, was HK$199,522,000, representing a 23% increase from HK$161,671,000 in the same period last year[161]. - The Group's total revenue from external customers for property leasing was HKD 3,003,000, slightly down from HKD 3,023,000 in the previous year[59]. Expenses and Costs - Selling and distribution expenses increased to HK$12,447,000 from HK$14,903,000, indicating a reduction in costs[10]. - Administrative expenses decreased to HK$16,728,000 from HK$23,775,000, showing improved operational efficiency[10]. - Management reduced selling and distribution costs as well as administrative costs by 25%[163]. - The company’s finance costs increased to $1,069,000 from $1,246,000 in the previous year, reflecting a decrease of 14.2%[75]. Assets and Liabilities - As of September 30, 2022, total assets amounted to HK$1,130,985,000, a decrease from HK$1,203,851,000 as of March 31, 2022, representing a decline of approximately 6.04%[21]. - Net current assets were reported at HK$300,851,000, slightly down from HK$305,396,000, indicating a decrease of about 1.77%[21]. - Total equity attributable to equity shareholders decreased to HK$1,099,665,000 from HK$1,169,994,000, a decline of approximately 5.97%[21]. - The company’s current liabilities increased to HK$116,672,000 from HK$93,467,000, representing an increase of about 25%[21]. - The total liabilities, including trade creditors, accrued charges, dividends payable, and amounts due to related companies, amounted to $87,433,000 as of September 30, 2022, up from $54,015,000 as of March 31, 2022, marking a 61.8% increase[107]. Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended September 30, 2022, was HK$39,266,000, compared to a net cash used of HK$393,000 in the same period of 2021[30]. - Cash and cash equivalents at the end of the period were HK$270,366,000, an increase from HK$261,029,000 at the end of the same period in 2021, marking an increase of about 3.9%[30]. - As of September 30, 2022, cash and bank balances were approximately HK$270,366,000, an increase from HK$235,472,000 as of March 31, 2022[172]. - The group did not have any short-term or long-term borrowings as of September 30, 2022[172]. Market and Strategic Focus - The company continues to focus on market expansion and new product development strategies to enhance future growth prospects[10]. - The company anticipates challenges in the second half of the financial year due to global inflation, high interest rates, and geopolitical tensions[163]. Shareholder Information - No interim dividend was declared for the current period, while a final dividend of $0.02 per ordinary share was approved, totaling $4,135,000 for the year ended March 31, 2022[89][91]. - The Board resolved not to declare an interim dividend for the six months ended September 30, 2022, compared to no dividend declared in the same period of 2021[159]. - As of September 30, 2022, Chan Family Investment Corporation Ltd. held a total of 48,032,240 shares, representing a significant portion of the company's equity[178]. - Guangzhou Textiles Industry & Trade Holdings Ltd. is the beneficial owner of 17,806,000 ordinary shares, accounting for 8.61% of the issued shares[199]. Accounting and Compliance - The interim financial report is unaudited but has been reviewed by the Company's Audit Committee, ensuring a level of oversight[39]. - The Group has not applied any new accounting standards that are not yet effective for the current accounting period, maintaining consistency in financial reporting[45]. - The financial statements for the year ended 31 March 2022 were unqualified, indicating no significant issues raised by the auditor[45]. - The interim financial report was authorized for issue on 29 November 2022, reflecting timely compliance with regulatory requirements[35].
长江制衣(00294) - 2023 - 中期财报