Financial Performance - The group's revenue for the period was approximately HKD 504.6 million, a decrease of 18.9% compared to HKD 622.2 million in the corresponding period[33]. - Gross profit for the period was approximately HKD 23.8 million, down 13.5% from the previous year's HKD 27.5 million[33]. - Net profit for the period was approximately HKD 8.6 million, a decrease of 15.8% compared to HKD 10.2 million in the corresponding period[33]. - Revenue for the six months ended September 30, 2022, was HKD 504,565,000, a decrease of 19% from HKD 622,171,000 in the same period of 2021[144]. - The company recorded a profit before tax of HKD 10,257,000, compared to HKD 11,601,000 in the previous year, indicating a decrease of approximately 11.6%[120]. - The total comprehensive income for the six months ended September 30, 2022, was HKD 8,616,000, a decrease from HKD 10,233,000 in the same period of 2021, representing a decline of approximately 15.8%[125]. - Basic and diluted earnings per share were HKD 0.86, compared to HKD 1.02 for the same period last year, reflecting a decrease of approximately 15.7%[120]. Revenue Breakdown - Diesel sales generated revenue of approximately HKD 461.3 million, accounting for 91.4% of total revenue, compared to HKD 578.2 million and 92.9% in the corresponding period[37]. - Revenue from lubricants was approximately HKD 22.6 million, representing 4.5% of total revenue, down from HKD 25.2 million and 4.0% in the corresponding period[40]. - Revenue from fleet card services increased by approximately HKD 1.8 million or 11.5% to about HKD 17.3 million[41]. - Diesel sales contributed HKD 461,304,000, down 20% from HKD 578,245,000 year-on-year[150]. - Fleet card service revenue increased to HKD 17,260,000, up 11.4% from HKD 15,476,000 in the previous year[150]. - Lubricant sales decreased to HKD 22,585,000, down 10% from HKD 25,137,000 year-on-year[150]. Cost and Expenses - Total sales cost for the period was approximately HKD 480.8 million, a decrease of 19.2% from HKD 594.7 million in the corresponding period[44]. - Selling and distribution expenses decreased by HKD 1,000,000 or 44.6% to HKD 1,300,000 from HKD 2,300,000 in the corresponding period[47]. - Administrative and other operating expenses decreased by approximately HKD 300,000 or 1.9% to about HKD 13,500,000 from approximately HKD 13,800,000 in the corresponding period[48]. - Financing costs increased by approximately HKD 300,000 or 70.3% to HKD 800,000 from HKD 500,000 in the corresponding period due to rising bank borrowing rates[49]. Assets and Liabilities - Current assets as of September 30, 2022, were approximately HKD 117,500,000, compared to HKD 117,100,000 as of March 31, 2022[60]. - Current liabilities decreased to approximately HKD 58,100,000 from HKD 69,600,000 as of March 31, 2022[60]. - The current ratio improved to 2.0 from 1.7 as of March 31, 2022[60]. - The debt-to-equity ratio decreased to 24.6% from 32.6% as of March 31, 2022[61]. - Total assets as of September 30, 2022, amounted to HKD 206,075,000, an increase from HKD 198,391,000 as of March 31, 2022[122]. - The company's net asset value increased to HKD 202,910,000 from HKD 194,294,000, showing a growth of about 4.2%[122]. Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2022[56]. - As of September 30, 2022, the company has a total of 730,000,000 shares held by controlling entities, representing 73% of the issued share capital[99]. - The controlling entity, Jun Long Holdings Limited, is owned by Mr. Xu, Ms. Tang, and Mr. Xu Yehao, holding 35%, 35%, and 30% respectively[95]. - The company has no other directors or senior management with disclosed interests in the company's shares or related securities as of September 30, 2022[98]. Operational Insights - The group managed a total of 50,347 fleet card accounts as of September 30, 2022, compared to 50,582 accounts in the previous year[32]. - The group plans to focus on self-developed products to enhance independence from brand companies and capitalize on market opportunities[35]. - The group anticipates that infrastructure and residential development projects in the Northern Metropolis will stimulate local demand for petrochemical products[35]. Cash Flow and Investments - The net cash used in operating activities for the six months ended September 30, 2022, was HKD 2,095,000, compared to a net cash inflow of HKD 1,044,000 in the same period of 2021[131]. - The cash and cash equivalents decreased by HKD 16,877,000 during the six months ended September 30, 2022, with cash and cash equivalents at HKD 36,723,000 as of September 30, 2022, down from HKD 40,622,000 in 2021[131]. - The net cash used in investing activities for the six months ended September 30, 2022, was HKD 1,238,000, a significant decrease from HKD 12,058,000 in the same period of 2021[131]. - The company incurred depreciation expenses of HKD 3,219,000 for property, plant, and equipment in the six months ended September 30, 2022, compared to HKD 3,809,000 in the same period of 2021, reflecting a decrease of approximately 15.5%[128]. - The group acquired property, plant, and equipment totaling 1,448,000 HKD during the six months ended September 30, 2022, significantly lower than 6,290,000 HKD in the same period of 2021[177]. Related Party Transactions - The company reported related party transactions with significant payments, including HKD 462,000 to Yau Fai Development Limited and HKD 330,000 to Cheng Wing Investment Limited for lease and interest payments[199]. - Total compensation for key management personnel increased to HKD 2,173,000 in the six months ended September 30, 2022, compared to HKD 1,844,000 in the same period of 2021, reflecting a growth of approximately 17.8%[199].
域高国际控股(01621) - 2023 - 中期财报