Financial Performance - For the six months ended September 30, 2022, the company reported a loss of approximately HKD 3.5 million, compared to a loss of HKD 2.2 million for the same period in 2021, representing an increase in loss of 59.1%[4] - Basic loss per share for the six months ended September 30, 2022, was HKD 0.10, compared to HKD 0.07 for the same period in 2021, indicating a 42.9% increase in loss per share[4] - Revenue for the six months ended September 30, 2022, was HKD 41.2 million, down 23% from HKD 53.6 million in the same period of 2021[5] - Gross profit decreased to HKD 4.99 million for the six months ended September 30, 2022, from HKD 8.29 million in the same period of 2021, reflecting a decline of 39.5%[5] - Operating loss for the six months ended September 30, 2022, was HKD 3.21 million, compared to an operating loss of HKD 1.71 million for the same period in 2021, representing an increase in operating loss of 87.9%[5] - The company reported a net loss attributable to shareholders of HKD 3,456,000 for the six months ended September 30, 2022, compared to a loss of HKD 2,184,000 in the same period last year[26] - The group's revenue decreased by approximately 23.1% to about HKD 41.2 million for the six months ended September 30, 2022, compared to HKD 53.6 million for the same period in 2021[36] - Gross profit fell by approximately 39.8% to about HKD 5.0 million for the six months ended September 30, 2022, down from HKD 8.3 million in the previous year[37] Cash Flow and Assets - Cash and cash equivalents decreased to HKD 2.31 million as of September 30, 2022, from HKD 7.18 million at the end of March 2022, a decline of 67.8%[6] - Total assets decreased to HKD 138.6 million as of September 30, 2022, from HKD 168.5 million as of March 31, 2022, a decrease of 17.7%[6] - The company reported a net cash outflow from financing activities of HKD 15.1 million for the six months ended September 30, 2022, compared to HKD 10.7 million for the same period in 2021[10] - Bank borrowings as of September 30, 2022, amounted to HKD 7,423,000, a decrease from HKD 22,546,000 as of March 31, 2022[28] - Trade receivables as of September 30, 2022, were HKD 10,934,000, down from HKD 14,236,000 as of March 31, 2022[27] Dividends and Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2022[4] - The company did not declare an interim dividend for the six months ended September 30, 2022, consistent with the previous year[25] - Mr. Zhang Jun Tao holds 975,859,600 shares, representing 29.34% of the company, while his spouse holds 11,140,000 shares, representing 0.34%[51] - The total shares held by Mr. Zhang Jun Tao and his spouse amount to 986,999,600 shares, which is 29.68% of the company[53] - Major shareholders include Ba Yin Limited with 975,859,600 shares (29.34%) and Gao Yu Investment Limited with 524,640,400 shares (15.77%) as of September 30, 2022[54] Employee and Operational Costs - The total employee costs for the period were HKD 3,826,000, an increase of 7% from HKD 3,570,000 in the previous year[24] - As of September 30, 2022, the group had a total of 26 full-time employees and 1 part-time employee, with employee costs amounting to approximately HKD 3.8 million for the six months ended September 30, 2022, compared to HKD 3.6 million for the same period in 2021[49] Expenses and Cost Management - Promotional, selling, and distribution expenses decreased by approximately 13.3% to about HKD 5.2 million for the six months ended September 30, 2022, down from HKD 6.0 million in the previous year[38] - Administrative expenses decreased by approximately 8% to about HKD 4.6 million for the six months ended September 30, 2022, compared to HKD 5.0 million for the same period in 2021[38] Market Position and Strategy - The company continues to focus on increasing sales and expanding marketing channels to adapt to challenges in the Hong Kong retail market[33] - The group remains confident in its position as a major retailer of premium wines in Hong Kong, despite the unclear global economic environment[34] Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO, which are held by Mr. Zhang Jun Tao[61] - The audit committee is responsible for reviewing the company's financial systems and internal controls, consisting of three independent non-executive directors[66] - The interim financial results for the six months ending September 30, 2022, have not been audited by the company's auditors[66] - The interim results announcement is available on the company's website and the Hong Kong Stock Exchange website[67] - The interim report will be sent to shareholders at an appropriate time and can be accessed on the company's website[67] Risk Management - The company adopts a prudent treasury policy, focusing on continuous credit assessments to mitigate credit risk[64] - The company has minimal foreign exchange risk as most sales and monetary assets are denominated in Hong Kong dollars[65] - As of September 30, 2022, the company had no significant risks related to foreign exchange contracts or financial derivatives[65] Other Information - The company had no single customer contributing more than 10% of total revenue[20] - The company’s operations are solely based in Hong Kong, with all non-current assets located there[18] - The company incurred financing costs of HKD 268,000 for bank loans, an increase from HKD 222,000 in the previous year[22] - The company has no significant lease or capital commitments as of September 30, 2022[45] - There were no significant acquisitions or disposals of subsidiaries or associated companies during the six months ended September 30, 2022[50] - No share options were granted under the share option scheme during the six months ended September 30, 2022[56] - The company did not purchase, sell, or redeem any of its securities during the six months ended September 30, 2022[57] - There were no significant contracts in which the company's directors had a material interest during the six months ended September 30, 2022[58] - The company has adopted a set of securities trading guidelines for directors, which were adhered to during the six months ended September 30, 2022[60] - As of September 30, 2022, the company did not hold any significant investments or capital asset plans[63] - The chairman of the company is Zhang Jun Tao[68] - The report was issued on November 25, 2022[69]
美捷汇控股(01389) - 2023 - 中期财报