Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 252,441,000, an increase of 1% from HKD 249,748,000 in the same period last year[14]. - Gross profit decreased to HKD 19,425,000, down 55.3% from HKD 43,357,000 year-on-year[14]. - Operating profit for the period was HKD 8,039,000, a decline of 68.6% compared to HKD 25,528,000 in the previous year[14]. - Profit attributable to owners of the company was HKD 7,262,000, down 63.8% from HKD 20,073,000 in the prior year[14]. - Basic and diluted earnings per share were HKD 0.73, compared to HKD 2.01 in the same period last year[14]. - The pre-tax profit for the six months ended September 30, 2022, was HKD 7,262,000, a decrease from HKD 23,842,000 in the same period last year[75]. - The group recorded a profit attributable to owners of approximately HKD 7.3 million, down from about HKD 20.1 million for the six months ended September 30, 2021[94]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to HKD 381,003,000, an increase from HKD 316,230,000 as of March 31, 2022[16]. - Total liabilities increased significantly to HKD 175,833,000 from HKD 93,322,000 in the previous period[16]. - Trade receivables as of September 30, 2022, were HKD 123,602,000, a decrease from HKD 134,802,000 as of March 31, 2022, indicating a reduction of 8.3%[63]. - The company recognized lease liabilities of HKD 84,195,000 as of September 30, 2022, compared to HKD 17,935,000 as of March 31, 2022, reflecting a significant increase[55]. - The capital debt ratio increased to approximately 41.0% from 16.6% as of March 31, 2022, mainly due to the recognition of lease liabilities[98]. Cash Flow - Cash and cash equivalents at the end of the period were HKD 134,913,000, up from HKD 105,454,000 at the beginning of the period[21]. - Net cash generated from operating activities was HKD 54,313,000, compared to HKD 61,455,000 in the previous year[21]. - Cash and bank balances as of September 30, 2022, amounted to HKD 134,913,000, an increase from HKD 128,732,000 as of March 31, 2022[14]. Revenue Sources - Air freight forwarding services generated revenue of HKD 190,555,000, while air cargo terminal operations contributed HKD 61,886,000, reflecting a year-on-year increase of 0.5% and 2.9% respectively[33]. - Major customers contributing over 10% of total revenue included Customer A with HKD 61,886,000, Customer B with HKD 82,529,000, and Customer C with HKD 39,771,000[41]. - The company operates as a single operating segment, with all revenue derived from its subsidiaries located in Hong Kong[40]. Other Income and Expenses - Other income included bank interest income of HKD 2,618,000 and management fee income of HKD 10,078,000, compared to HKD 2,583,000 and HKD 500,000 in the previous year[35]. - The total other income and gains amounted to HKD 14,826,000, an increase from HKD 5,965,000 in the previous year[35]. - Administrative and other operating expenses increased by approximately 10.2% from about HKD 23.8 million to approximately HKD 26.2 million, driven by higher maintenance, legal, and professional service costs[91]. Dividends - The company paid dividends of HKD 25,000,000 during the period, down from HKD 30,000,000 in the prior year[18]. - The company declared a final dividend of HKD 0.025 per share for the year ended March 31, 2022, totaling approximately HKD 25,000,000, down from HKD 30,000,000 in the previous year[51]. - The board did not recommend the payment of an interim dividend for the review period[109]. Corporate Governance - The company is committed to maintaining high standards of corporate governance, which is essential for gaining and maintaining the trust of shareholders and stakeholders[146]. - The audit committee was established on February 21, 2018, and is composed of independent non-executive directors, ensuring compliance with relevant regulations[150]. - The company has adhered to the corporate governance code during the review period and up to the report date[147]. Future Plans and Investments - The company plans to expand its customer base and increase revenue sources to enhance competitiveness in the logistics service industry[85]. - The company is in the process of identifying suitable warehouse properties due to specific requirements and market conditions in Hong Kong, which has delayed the establishment of a new warehouse of approximately 130,000 square feet[112]. - The company has made significant investments in technology and infrastructure to enhance operational efficiency and security measures[115]. Employee Information - The group employed 406 employees as of September 30, 2022, down from 424 employees as of March 31, 2022, with total employee costs of approximately HKD 70.3 million[101]. - The company has increased labor costs significantly to meet the growing demand for air freight forwarding services[84]. Share Options and Ownership - The company has adopted a share option scheme to attract and retain talent, with a maximum of 100,000,000 shares available for issuance under this scheme[140]. - The total number of shares issued due to the exercise of stock options granted under any stock option plan cannot exceed 30% of the company's issued shares at any time[143]. - No stock options were granted, exercised, expired, or lapsed during the review period, and there are no unexercised stock options under the stock option plan[145].
亚洲实业集团(01737) - 2023 - 中期财报