Financial Performance - Revenue for the six months ended September 30, 2022, was HK$1,673,846, a decrease of 10% compared to HK$1,859,457 for the same period in 2021[2]. - Gross profit for the same period was HK$536,759, down from HK$577,477, reflecting a gross margin of approximately 32%[2]. - Profit for the period was HK$151,261, a decrease of 9.5% from HK$167,117 in the previous year[2]. - Total comprehensive income for the period was HK$42,523, significantly lower than HK$186,668 in the same period last year[3]. - Basic and diluted earnings per share decreased to 31.03 HK cents from 34.19 HK cents year-on-year[3]. - The Group's profit before taxation for the six months ended September 30, 2022, was HK$212,587,000, compared to HK$247,763,000 in 2021, reflecting a decline of approximately 14%[29]. - Profit before taxation for the six months ended 30 September 2022 was HK$151,241,000, compared to HK$166,615,000 for the same period in 2021, representing a decrease of approximately 9.2%[37]. - Profit attributable to owners of the Company decreased by 9.6% to HK$151 million, compared to HK$167 million in the previous year[109]. Assets and Liabilities - Non-current assets as of September 30, 2022, totaled HK$810,127, down from HK$843,872 as of March 31, 2022[4]. - Current assets increased to HK$2,101,796 from HK$2,035,403, driven by an increase in bank balances and cash to HK$1,360,144[4]. - Current liabilities rose to HK$717,676, up from HK$486,069, primarily due to an increase in dividend payable to HK$197,380[4]. - Total assets less current liabilities decreased to HK$2,194,247 from HK$2,393,206, reflecting a decrease of about 8.3%[6]. - Net assets as of September 30, 2022, were HK$1,881,196, down from HK$2,036,167, indicating a reduction of approximately 7.7%[6]. - The Group's total liabilities as of September 30, 2022, were HK$1,030,727,000, an increase from HK$843,108,000 as of March 31, 2022[32]. - The Group's total liabilities increased to HK$317,948,000 as of 30 September 2022 from HK$257,611,000 as of 31 March 2022[58]. Cash Flow - The Group's net cash from operating activities for the six months ended 30 September 2022 was HK$267,927,000, a decrease from HK$342,720,000 in the same period of 2021, representing a decline of approximately 21.8%[13]. - Net cash used in investing activities was HK$2,483,000 for the six months ended 30 September 2022, significantly improved from HK$47,202,000 in the same period of 2021[14]. - The Group's net cash used in financing activities totaled HK$111,004,000 for the six months ended 30 September 2022, compared to HK$32,973,000 in the same period of 2021, indicating an increase of approximately 236.5%[14]. - Cash and cash equivalents at the end of the period were HK$1,360,144,000, slightly up from HK$1,334,548,000 at the end of the same period in 2021[14]. Dividends - The company declared a special dividend of HK$148,644,000 for 2023, alongside a proposed interim dividend of HK$38,014,000[8]. - The interim dividend for the six months ended 30 September 2022 was set at 7.8 HK cents per share, totaling HK$38,014,000, compared to 8.6 HK cents per share, totaling HK$41,913,000 in 2021, indicating a decrease of approximately 9.8%[40]. - The company declared a final dividend of 10.0 HK cents per share, totaling HK$48,736,000, and a special dividend of 30.5 HK cents per share, totaling HK$148,644,000 for the year ended 31 March 2022[40]. Inventory and Receivables - The company reported a decrease in inventories to HK$467,621 from HK$483,625, indicating improved inventory management[4]. - The Group's inventories as of 30 September 2022 totaled HK$467,621,000, a decrease of 3.1% from HK$483,625,000 as of 31 March 2022[46]. - As of 30 September 2022, trade receivables amounted to HK$192,475,000, an increase from HK$182,436,000 as of 31 March 2022[49]. - The Group's total receivables, including trade and other receivables, amounted to HK$222,068,000 as of 30 September 2022, up from HK$205,097,000 as of 31 March 2022[49]. Market and Operational Insights - The Group continues to explore market expansion opportunities and new product development strategies to enhance future growth[1]. - The Group faced challenges due to COVID-19 pandemic and supply chain disruptions, leading to temporary store closures in Mainland China[109]. - The Group's performance was significantly impacted by the lockdown policies in Mainland China, affecting revenue generation[109]. - As of September 30, 2022, the Group operated a total of 44 stores, including 29 in Mainland China, 12 in Hong Kong, 1 in Macau, and 2 in Taiwan[110]. Share Capital and Options - The total number of issued and fully paid shares remained at 487,358,224 as of 30 September 2022, with an authorized share capital of 1,000,000,000 shares[64]. - The Company has share option schemes for eligible participants, with 32,300,000 options granted on 6 April 2011 and 23,000,000 options granted on 29 August 2011[66]. - The total number of share options outstanding as of 30 September 2021 was 28,560,000, with no options remaining unexercised[75]. - No options were granted, exercised, or lapsed under the 2013 Share Option Scheme during the six months ended September 30, 2022, and September 30, 2021[77]. Governance and Compliance - The Audit Committee has reviewed the unaudited consolidated financial statements for the six months ended September 30, 2022[132]. - The Company does not have a dividend policy, and future dividends will be decided based on various factors including market conditions and operating results[135]. - The roles of the chairman and chief executive are held by the same individual, Mr. Yeung Him Kit, Dennis, since February 10, 2021[134]. - The Board consists of three executive directors and three independent non-executive directors as of the report date[145].
东方表行集团(00398) - 2023 - 中期财报