Financial Performance - Revenue for the six months ended September 30, 2022, was approximately HK$86.8 million, representing an increase of approximately 26.1% compared to the same period in 2021[12]. - Gross profit for the same period was approximately HK$1.8 million, reflecting a decrease of approximately 51.1% from HK$3.7 million in the prior year, with a gross profit margin of approximately 2.0%[12]. - The consolidated loss attributable to equity holders was approximately HK$15.0 million, a significant improvement from a loss of approximately HK$68.0 million in the corresponding period of 2021[12]. - Basic and diluted losses per share for the six months ended September 30, 2022, amounted to approximately HK$0.09, compared to HK$0.39 for the same period in 2021[12]. - The operating loss for the six months ended September 30, 2022, was HK$8,143,000, compared to an operating loss of HK$67,978,000 in the prior year, showing an improvement[122]. - The loss before tax for the period was HK$14,977,000, a reduction from HK$67,978,000 in the previous year[122]. - The total comprehensive loss for the year attributable to owners of the company was HK$17,850,000, down from HK$67,619,000 in the previous year[124]. Sales and Marketing Strategy - The Group successfully sold its first set of fine artistic jewellery during the period, aiming to enhance its brand in the high-net-worth customer segment[16]. - The management plans to allocate more resources to sales and marketing to promote its fine artistic jewellery brand through online marketing[16]. - The Group plans to develop its online sales channel, starting with livestream e-commerce on Taobao in Mainland China, with expectations to expand to international markets in 2023[35]. - The Group aims to utilize established third-party online sales platforms to enhance cost-effectiveness in its sales strategy[37]. - The Group will allocate sales and marketing resources to promote its brand and products, participate in trade exhibitions, and utilize online marketing strategies[44]. Market Conditions and Economic Outlook - The global economic recovery is impacted by the prolonged COVID-19 pandemic, international trade sanctions, and geopolitical tensions, creating uncertainty for growth prospects[39]. - The Federal Reserve's interest rate hike cycle and tapering policy are slowing down consumption and investment sentiment, particularly affecting business opportunities in the U.S. due to the ongoing Sino-U.S. trade war[39]. - With effective prevention measures and global vaccine distribution, consumer demand is expected to further release, leading to a continued recovery in the luxury market[40]. - The Group plans to explore new business opportunities while continuing its existing operations to capitalize on the luxury market recovery[40]. Operational Developments - The Group is committed to developing a service platform and expanding its product range, including gold products and watches, targeting wholesalers, retailers, and high-net-worth customers[17]. - The Group may explore opportunities to acquire a controlling interest in an auction house to enhance its sales channels for fine artistic jewellery[31]. - The Group is considering developing a service platform utilizing augmented reality (AR) and blockchain technologies to increase service variety and profitability[36]. - The Group's revenue from sales in the Americas market decreased by 100.0% to zero for the six months ended September 30, 2022, compared to the same period last year[22]. - Revenue generated from sales to European markets also recorded a significant decrease of 100.0% to zero for the same period[25]. Financial Position and Assets - As of September 30, 2022, the Group had current assets of approximately HK$86.0 million, with cash and bank balances of approximately HK$82.9 million[76]. - The current ratio was approximately 17.9 as of September 30, 2022, compared to approximately 15.1 as of March 31, 2022[76]. - The Group had no capital commitments as of September 30, 2022[81]. - The Group held financial assets at fair value through profit or loss amounting to approximately HK$25,973,000, representing about 22.5% of its total assets[91]. - The financial assets included a life insurance policy valued at approximately HK$17,847,000, which accounted for approximately 15.4% of total assets, and Hong Kong listed equity securities valued at approximately HK$8,126,000, representing about 7.0% of total assets[92]. - The Group's net cash flows from operating activities for the six months ended September 30, 2022, were negative at HK$7,879,000, compared to a positive cash flow in the previous period[142]. Corporate Governance and Structure - The company changed its name from "Hifood Group Holdings Co., Limited" to "Domaine Power Holdings Limited" effective from August 25, 2022[50]. - The company's headquarters in Hong Kong has been relocated to a new address effective from November 22, 2022[55]. - The corporate governance practices adopted by the Company complied with the Corporate Governance Code during the period[114]. - The Group's capital structure remained unchanged as of September 30, 2022, compared to March 31, 2022[90]. - The Group does not engage in any derivative activities or use financial instruments to hedge foreign currency risks[90]. Employee and Management Information - The Group had 8 employees as of September 30, 2022, an increase from 6 employees as of March 31, 2022[85]. - The remuneration for employees is determined based on market conditions and individual performance, ensuring competitive salary levels[88]. - Independent non-executive directors' monthly salary has been increased to HK$11,000, effective from July 1, 2022[119]. - The company has made changes in the board committee composition, including the re-designation of Dr. So Shu Fai as chairman of the Nomination Committee[118]. Accounting Policies and Financial Reporting - The unaudited condensed consolidated interim financial statements have been prepared in accordance with HKAS 34 and the applicable disclosure requirements of the Listing Rules[150]. - The significant accounting policies adopted are consistent with those used in the Group's audited consolidated financial statements for the year ended March 31, 2022[152]. - The Group has adopted revised HKFRSs for the first time for the current year's financial statements, including amendments to HKFRS 3 and HKFRS 9[155]. - The Group's financial statements have not been audited but have been reviewed by the audit committee[151]. - The Group is currently assessing the impact of the amendments on its accounting policy disclosures[191].
域能控股(00442) - 2023 - 中期财报