Financial Performance - Total comprehensive loss for the period attributable to owners of the Company was HK$85,332,000, compared to a total comprehensive income of HK$18,068,000 in the same period last year[19]. - Basic and diluted loss per share attributable to ordinary equity holders of the Company was HK2.96 cents, compared to HK0.88 cent in the previous year[19]. - The operating loss for the period was HK$81,549,000, compared to a profit of HK$21,557,000 in the same period of 2022, indicating a significant decline in operational performance[53]. - The company reported a loss before tax of HK$82,093,000 for the first half of 2023, compared to a profit before tax of HK$21,557,000 in the same period of 2022[55]. - Other income and gains decreased significantly to HK$8,139,000 in 2023 from HK$184,011,000 in 2022, a decline of approximately 95.6%[52]. - The total comprehensive income for the period was significantly impacted by exchange differences, resulting in a comprehensive loss for the period[54]. - The company reported a loss attributable to owners of HK$82 million, a decrease of 477% from a profit of HK$22 million in the same period last year[189]. - EBITDA for the period was HK$(36) million, with an EBITDA margin of (12%), showing a 60% improvement from the previous year[189]. Revenue and Sales - For the six months ended June 30, 2023, total revenue was HK$298,437,000, a slight increase from HK$294,681,000 in the same period of 2022, representing a growth of 1.9%[52]. - Revenue for the six months ended June 30, 2023, was HK$298 million, a 1% increase from HK$295 million in the same period of 2022[189]. - For the six months ended June 30, 2023, revenue from retailing and distribution of garments was HK$298,437,000, compared to HK$294,681,000 for the same period in 2022, reflecting a slight increase[150]. - Same-store sales increased by 10% during the period, reversing a 9% decline in 2022[199]. - The overall same-store sales growth for the total group was 10%, compared to a -9% decline in the same period last year[192]. Assets and Liabilities - Total non-current assets increased to HK$178,959,000 from HK$155,571,000 year-on-year[21]. - Current assets rose significantly to HK$608,334,000, up from HK$358,220,000 in the previous year[21]. - Net current assets improved to HK$251,723,000 compared to HK$110,228,000 in the previous year[23]. - Total current liabilities increased to HK$356,611,000 as of June 30, 2023, up from HK$247,992,000 at the end of 2022, reflecting a rise of 43.8%[47]. - The Group's total assets as of June 30, 2023, amounted to HK$513,491,000, with unallocated assets of HK$212,645,000[128]. - Total liabilities as of June 30, 2023, were HK$391,882,000, with unallocated liabilities of HK$168,879,000[131]. - Total liabilities to equity ratio decreased significantly to 125%, down from 327% at the end of 2022[189]. Store Operations - The company operates 559 stores across approximately 19 countries and regions, maintaining the same number as the previous year[4]. - The company has 210 directly managed stores in Hong Kong SAR and Macau SAR, mainland China, and Singapore[4]. - Directly managed stores in Hong Kong and Macau increased to 28 from 26 in December 2022, and from 24 in June 2022[190]. - Directly managed stores in Mainland China decreased to 168 from 171 in December 2022, but increased from 155 in June 2022[190]. - The number of export franchised stores increased to 349 from 347 in December 2022, but decreased significantly from 539 in June 2022[190]. Financial Ratios and Metrics - Gross profit increased by 19% to HK$157 million, compared to HK$132 million in the prior year[189]. - Gross margin improved to 53%, up 8 percentage points from 45% in the previous year[189]. - Current ratio improved by 19% to 1.71 times, up from 1.44 times at the end of 2022[189]. - Cash and bank balances increased by 291% to HK$364 million, compared to HK$93 million at the end of 2022[189]. - Inventory turnover decreased by 7 days to 194 days compared to 201 days as of December 31, 2022[189]. Strategic Initiatives - The company continues to focus on market expansion and new product development as part of its strategic initiatives[66]. - The Group received government subsidies related to the pandemic, which were aimed at retaining employees, with no unmet conditions attached[140]. Compliance and Accounting Standards - The company is committed to maintaining compliance with the standards set forth by the Hong Kong Institute of Certified Public Accountants[57]. - The Group has not early applied any new and revised HKFRSs that have been issued but are not yet effective, and is currently assessing their potential impact on operations and financial position[77]. Segment Reporting - The Group is organized into three reportable operating segments: Hong Kong SAR and Macau SAR, Mainland China, and Singapore[78]. - Segment performance is evaluated based on reportable segment profit/loss, which is adjusted profit/loss before tax, excluding interest income and non-lease-related finance costs[82]. - Intersegment sales and transfers are conducted at market prices used for sales made to third parties[82].
BOSSINI INT'L(00592) - 2023 - 中期财报