Financial Performance - For the six months ended September 30, 2022, the company reported total revenue of HKD 72,905,000, a decrease of 4.3% compared to HKD 76,211,000 in the same period of 2021[9]. - The net profit for the period was HKD 7,742,000, down 22.1% from HKD 9,926,000 in the prior year[9]. - Basic and diluted earnings per share for the period were both HKD 3.23, compared to HKD 4.14 in the same period last year, reflecting a decline of 22%[9]. - The company reported a pre-tax profit of HKD 8,785,000, down 29.5% from HKD 12,390,000 in the previous year[41]. - The group recorded a profit before tax of HKD 1,016,000 for the six months ended September 30, 2022, down from HKD 2,464,000 in the same period of 2021, representing a decline of 58.8%[51]. - The company’s profit attributable to the owners for the six months ended September 30, 2022, was approximately HKD 7.7 million, a decrease of about 22.2% from HKD 9.9 million in the same period last year[81]. Revenue Breakdown - Revenue from tile sales decreased to HKD 49,884,000, down 17.8% from HKD 60,116,000 in the previous year[33]. - Revenue from sanitary ware and other products increased to HKD 22,781,000, up 43.7% from HKD 15,855,000 in 2021[33]. - Total revenue for the six months was HKD 72,665,000, a decrease of 4.5% from HKD 75,971,000 in the same period last year[33]. - Revenue from the sale of foreign tiles and sanitary ware was approximately HKD 72.7 million, down from HKD 76 million in the previous year[81]. - Revenue from the sale of tiles and sanitary ware products was approximately HKD 72.7 million, down from HKD 76.0 million in 2021, with retail sales at HKD 51.4 million (down 19.1%) and non-retail sales at HKD 21.3 million (up 70.4%) due to increased sales in Macau after the end of lockdown[86][92]. Assets and Liabilities - The company's total assets as of September 30, 2022, amounted to HKD 201,116,000, an increase from HKD 188,316,000 as of March 31, 2022[12]. - Trade receivables increased significantly to HKD 61,408,000 from HKD 41,610,000, representing a growth of 47.5%[12]. - The total equity of the company as of September 30, 2022, was HKD 132,588,000, up from HKD 124,846,000 at the end of the previous fiscal year[12]. - Bank borrowings as of September 30, 2022, totaled HKD 46.17 million, down from HKD 55.09 million as of March 31, 2022[71]. - As of September 30, 2022, the company had bank borrowings of approximately HKD 46.2 million, with an asset-to-liability ratio of about 0.35[94]. Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2022, was HKD 27,026,000, an increase of 37.5% compared to HKD 19,599,000 in 2021[16]. - The net cash used in investing activities was HKD (831,000), significantly improved from HKD (31,210,000) in 2021[16]. - The net cash used in financing activities was HKD (28,211,000), compared to cash generated of HKD 2,683,000 in the previous year[16]. - The company's cash and cash equivalents increased to HKD 3,745,000 from HKD 2,030,000, showing a growth of 84.5%[12]. - Cash and cash equivalents as of September 30, 2022, were HKD 11.75 million, compared to HKD 13.77 million as of March 31, 2022[64]. Strategic Initiatives - The company plans to focus on market expansion and new product development to drive future growth[10]. - The group aims to diversify its product offerings and strengthen partnerships with existing distributors[106]. - The acquisition of Qianlihang is expected to enhance the company's business network in the construction industry and diversify its revenue sources[106]. Corporate Governance - The company has adopted the corporate governance code and has complied with all provisions except for the separation of the roles of Chairman and CEO, which are held by the same individual[118]. - The audit committee consists of three independent non-executive directors who review the financial information and the relationship with external auditors[124]. Shareholder Information - Major shareholders TMF (Cayman) Ltd., RB Management, and RB Power each hold 150,000,000 shares, representing 62.5% of the company's issued share capital as of September 30, 2022[114]. - The company granted a total of 4,800,000 share options to executive directors during the six months ended September 30, 2022[103]. - No share options were exercised during the six months ending September 30, 2022, with a total of 4,800,000 share options granted, equivalent to 2% of the company's issued share capital[122]. Dividend Policy - The group did not recommend any dividend for the six months ended September 30, 2022, consistent with the previous year[56]. - The company does not recommend any dividend payment for the six months ended September 30, 2022[105].
MOS HOUSE(01653) - 2023 - 中期财报