Financial Performance - For the six months ended September 30, 2022, the turnover was HK$1,248,184,000, a decrease of 10.7% from HK$1,397,778,000 in the same period of 2021[22] - Gross profit for the same period was HK$445,820,000, down 12.7% from HK$510,854,000 year-on-year[22] - Profit from operations decreased to HK$40,885,000, compared to HK$49,094,000 in the previous year, reflecting a decline of 16.4%[22] - Profit before tax was HK$12,560,000, a significant drop of 59.0% from HK$30,717,000 in the prior year[22] - Profit for the period was HK$1,792,000, down 32.2% from HK$2,643,000 in the same period last year[22] - Earnings per share attributable to owners of the company decreased to 0.8 HK cents, compared to 1.1 HK cents in the previous year[22] - Other income and gains increased to HK$31,592,000 from HK$16,531,000, marking a growth of 91.1%[22] - Selling and distribution expenses decreased to HK$360,305,000 from HK$400,528,000, a reduction of 10.0%[22] - Administrative expenses remained relatively stable at HK$76,222,000 compared to HK$77,763,000 in the previous year[22] - Profit for the period decreased to HK$1,792,000, down 32.2% from HK$2,643,000 in the same period last year[24] - Other comprehensive loss for the period was HK$148,398,000, compared to a gain of HK$32,481,000 in the previous year[24] - Total comprehensive loss for the period amounted to HK$146,606,000, a significant decline from a total comprehensive income of HK$35,124,000 in the prior year[24] Assets and Liabilities - Net current assets increased to HK$1,192,198,000, up from HK$764,697,000 as of March 31, 2022[28] - Total assets less current liabilities rose to HK$1,649,324,000, compared to HK$1,136,046,000 at the end of the previous fiscal year[28] - Non-current liabilities totaled HK$747,885,000, an increase from HK$88,001,000 as of March 31, 2022[32] - Net assets decreased to HK$901,439,000 from HK$1,048,045,000 at the end of the previous fiscal year[32] - Equity attributable to owners of the Company decreased to HK$902,096,000 from HK$1,048,479,000[32] - The company reported a significant exchange loss of HK$148,398,000 due to foreign operations translation[24] Cash Flow and Financing - Net cash flows used in operating activities amounted to HK$122,955,000, compared to a net cash inflow of HK$170,987,000 in the same period of 2021[12] - Cash flows from investing activities resulted in a net outflow of HK$29,019,000, an increase from HK$10,285,000 in 2021[44] - Proceeds from interest-bearing bank and other borrowings were HK$704,795,000, while repayments amounted to HK$554,209,000, resulting in a net cash inflow from financing activities of HK$63,019,000[44] - Cash and cash equivalents at the end of the period were HK$249,369,000, down from HK$384,932,000 in 2021[44] - The company incurred finance costs of HK$28,325,000, an increase from HK$18,377,000 in the previous year[12] - The carrying amount of interest-bearing bank and other borrowings was HK$1,070,995,000 as of September 30, 2022, compared to HK$920,409,000 as of March 31, 2022[164] - Total interest-bearing liabilities increased from HK$920.4 million as of 31 March 2022 to HK$1,071.0 million as of 30 September 2022[54] - Net borrowings rose from HK$183.2 million to HK$481.6 million during the same period[54] - The net gearing ratio increased to 53.4% as of 30 September 2022, compared to 17.5% as of 31 March 2022[54] Segment Performance - Retail Business segment revenue reached HK$721,251,000, while Wholesale Business generated HK$275,050,000, and E-Business contributed HK$207,120,000, totaling HK$1,248,184,000 in segment revenue[77] - The Retail Business segment incurred a loss of HK$13,206,000, while the Wholesale Business segment achieved a profit of HK$58,415,000, and E-Business reported a profit of HK$9,957,000[77] - Revenue from external customers in Mainland China was HK$899,640,000, down from HK$1,134,495,000, a decrease of 20.7%[81] - Revenue from external customers in Hong Kong and Macau increased to HK$290,027,000 from HK$244,720,000, an increase of 18.5%[81] - The Group's e-business achieved a double-digit increase in turnover, driven by revamped online shops and interactive marketing strategies targeting younger consumers[188] Human Resources - The total number of employees as of 30 September 2022 was approximately 2,360, a slight increase from 2,350 a year earlier[200] - The Company continues to offer competitive remuneration packages, including salary, allowances, and discretionary bonuses[200] - There were no major changes in human resources policies during the period[200] Market and Strategy - The Group's retail performance in Hong Kong improved due to the relaxation of quarantine measures and the launch of the Consumption Voucher Scheme, leading to increased local retail sales[179] - Demand for gold products grew during the period, attributed to a fall in gold prices[179] - The brand "DUO by TSL" successfully established a market presence in Hong Kong, appealing particularly to young customers with its Nordic simplicity store design[179] - A new flagship store for the Group was inaugurated in Macau in October 2022, enhancing its retail network in the region[179] - The Group plans to optimize its store portfolio in Hong Kong and Macau to capture business opportunities from the relaxation of quarantine policies[179] - The Group's management will maintain prudent management and closely monitor market conditions to adjust business strategies as needed[175] Compliance and Reporting - The interim results have been reviewed by the company's audit committee, ensuring compliance and accuracy in reporting[19] - The company adopted several revised HKFRSs, including amendments to HKFRS 3 and HKAS 16, for the current period's financial statements[49] - The Group is currently evaluating the impact of new and revised Hong Kong Financial Reporting Standards (HKFRSs) but has not yet determined their significance on operations and financial position[72] - The effective date for certain amendments to HKFRS 17 has been deferred to January 1, 2023, affecting the Group's financial reporting[73]
谢瑞麟(00417) - 2023 - 中期财报