Financial Performance - Revenue for the six months ended September 30, 2022, was HK$219,424,000, a decrease of 15.6% compared to HK$259,886,000 in the same period of 2021[10]. - Gross profit decreased by 17.3% to HK$58,268,000 from HK$70,469,000 year-on-year[10]. - EBITDA fell by 40.1% to HK$12,459,000 compared to HK$20,784,000 in the previous year[10]. - Profit attributable to equity holders of the company was HK$2,587,000, down 64.6% from HK$7,299,000 in the prior year[10]. - Basic earnings per share decreased by 63.9% to 1.3 HK cents from 3.6 HK cents year-on-year[10]. - The Group recorded a revenue of approximately HK$219 million during the Period, representing a decrease of approximately 15.8% compared to HK$260 million in the Corresponding Period[51]. - Gross profit decreased from approximately HK$70 million in the Corresponding Period to approximately HK$58 million, a decline of approximately 17.1%, with a gross profit margin of approximately 26.6%[52]. - The Group recorded an operating profit of approximately HK$8.4 million for the Period, down from HK$17.3 million in the Corresponding Period[52]. - Profit attributable to equity holders was approximately HK$2.6 million, down from approximately HK$7.3 million in the corresponding period, with basic earnings per share of HK$0.013 compared to HK$0.036[58]. - The Group reported a total comprehensive loss of HK$16,462,000 for the period ended September 30, 2022[95]. Assets and Liabilities - Total assets as of September 30, 2022, were HK$321,872,000, a decline of 9.6% from HK$355,925,000 as of March 31, 2022[10]. - Net assets decreased by 9.3% to HK$170,707,000 from HK$188,169,000[10]. - The Group's total borrowings amounted to approximately HK$65 million, down from HK$69 million as of 31 March 2022[76]. - Current liabilities decreased from HK$162,695,000 to HK$142,930,000, a reduction of about 12.1%[90]. - Total liabilities were HK$151,165,000 as of September 30, 2022[144]. - The net debt after deducting cash and cash equivalents of approximately HK$32 million is about HK$32 million, resulting in a net debt-to-equity ratio of 36.4% as of 30 September 2022, up from 33% as of 31 March 2022[76]. Cash Flow - Net cash generated from operating activities for the six months ended 30 September 2022 was HK$15,322,000, a decrease of 21.4% compared to HK$19,544,000 in 2021[97]. - Net cash used in investing activities increased significantly to HK$8,605,000 from HK$1,663,000 in the previous year, indicating a higher investment outflow[97]. - Cash and cash equivalents at the end of the period were HK$31,141,000, down from HK$35,135,000 in 2021, reflecting a decrease of 11.3%[97]. Dividends - The interim dividend per share remained unchanged at 0.5 HK cents[10]. - The Board declared an interim dividend of HK$0.005 per ordinary share for the six months ended 30 September 2022, unchanged from the previous year[12]. - The interim dividend will be payable on 23 December 2022 to eligible shareholders[12]. Shareholding Structure - As of 30 September 2022, Dr. Hung Kim Fung and Ms. Yeung Man Yi each hold 90,000,000 shares, representing 45% of the total interests[16]. - Mr. Yeung Kwok Leung holds 30,000,000 shares, accounting for 15% of the total interests[16]. - Mr. Hung Ying Fung has personal interests of 26,990,000 shares, which is 13.5% of the total interests[16]. Business Segments - The Group continues to focus on three main business segments: Electronic and Electrical Trading, Computer Business, and Cosmetic and Online Retail Business, which are critical for resource allocation and performance assessment[111]. - Revenue from the Electronic and Electrical Trading Business was approximately HK$150 million, representing a decrease of approximately 22.3% from approximately HK$193 million in the corresponding period[62]. - Revenue from the Computer Retail Business decreased by approximately 10% to HK$9 million, while the Computer Distribution Business increased by approximately 6.5% to HK$33 million[69]. - The revenue of the Cosmetic Business and Online Retail Business increased by approximately 7.7% to HK$28 million, despite conservative consumer sentiment impacting store sales[69]. Expenses - Total operating expenses for the Period were approximately HK$55 million, compared to approximately HK$54 million in the Corresponding Period[52]. - Distribution and selling expenses decreased by approximately 10.5% to about HK$17 million from approximately HK$19 million in the previous period[56]. - General and administrative expenses increased by approximately 5.6% to about HK$38 million from approximately HK$36 million in the corresponding period[56]. - Employee benefit expense totaled HK$27,890,000 for the six months ended 30 September 2022, slightly increasing from HK$27,397,000 in 2021[168]. Financial Risks and Management - The Group did not incur any significant foreign exchange risks as of 30 September 2022, with no hedging transactions undertaken[77]. - The Group's financial risk management policy has remained unchanged since March 31, 2022, indicating stability in risk management practices[108]. Related Party Transactions - The Group's related party transactions were conducted in the normal course of business at terms agreed between the contracting parties[196]. - M-Bar Limited is a wholly-owned subsidiary of Mobicon Electronic Supplies Company Limited, owned by significant shareholders of the Company[196]. - PC Supply Group is primarily owned by A Plus Computer Shop Limited, which is also beneficially owned by the Company's directors and substantial shareholders[197].
万保刚集团(01213) - 2023 - 中期财报