Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 61,292,000, a decrease of 3.5% from HKD 63,392,000 in the same period of 2021[4] - Gross profit for the same period was HKD 51,117,000, down from HKD 52,500,000, reflecting a decline of 2.6%[4] - The company reported a loss before tax of HKD 433,000 compared to a profit of HKD 51,000 in the previous year[4] - The net loss for the period was HKD 365,000, compared to a loss of HKD 209,000 in the prior year, indicating a 74.9% increase in losses[4] - The company reported a total revenue of HKD 61,292 thousand for the six months ended September 30, 2022, a decrease of 3.3% from HKD 63,392 thousand in the same period of 2021[32] - Revenue from health supplement products was HKD 59,267 thousand, while personal care products and honey & pollen products generated HKD 1,268 thousand and HKD 757 thousand, respectively[32] - The group reported a net loss of HKD 365,000 attributable to owners for the six months ended September 30, 2022, compared to a loss of HKD 209,000 for the same period in 2021[57] - The group recorded a loss attributable to owners of HKD 365,000, compared to a loss of HKD 209,000 in the same period last year, primarily due to foreign exchange losses and reduced revenue from the Macau division[88] - The basic loss per share for the six months ended September 30, 2022, was HKD 0.05, compared to HKD 0.03 for the same period last year[100] Assets and Liabilities - Total assets as of September 30, 2022, were HKD 127,634,000, a slight decrease from HKD 130,837,000 as of March 31, 2022[10] - The company's net asset value decreased to HKD 155,688,000 from HKD 166,565,000, representing a decline of 6.5%[12] - The company’s cash and cash equivalents decreased to HKD 38,794,000 from HKD 56,156,000, a decline of 30.9%[10] - The company’s inventory increased to HKD 20,197,000 from HKD 15,098,000, representing a rise of 33.8%[10] - Accounts receivable as of September 30, 2022, amounted to HKD 8,144 million, an increase of 11.4% from HKD 7,312 million as of March 31, 2022[66] - Total liabilities as of September 30, 2022, were HKD 11,294 million, a decrease of 16% from HKD 13,394 million as of March 31, 2022[71] - The company's issued and fully paid share capital remained at HKD 7,620 million with 762 million shares as of September 30, 2022, unchanged from March 31, 2022[76] Cash Flow and Investments - The operating cash flow before tax was a loss of HKD 433 thousand for the six months ended September 30, 2022, compared to a profit of HKD 51 thousand in the same period of 2021[19] - The net cash used in operating activities was HKD 1,640 thousand for the six months ended September 30, 2022, a significant decline from HKD 9,758 thousand in the previous year[19] - The company reported a net cash outflow from investing activities of HKD 8,043 thousand for the six months ended September 30, 2022, compared to an inflow of HKD 22,688 thousand in the same period of 2021[19] - The company’s cash and cash equivalents decreased to HKD 38,794 thousand as of September 30, 2022, down from HKD 85,239 thousand at the same time in 2021[22] - The company incurred a net foreign exchange loss of HKD 1,226,000 for the six months ended September 30, 2022, compared to a gain of HKD 258,000 in the previous year[44] - The group recognized government subsidies of approximately HKD 2,502,000 under the Hong Kong government's employment support scheme for the six months ended September 30, 2022[40] - Other income for the six months ended September 30, 2022, included bank interest income of HKD 147,000, government subsidies of HKD 2,505,000, and rental concessions of HKD 535,000[39] Operational Highlights - The group has one operating segment, which is the retail and wholesale of health and personal care products[37] - The group has 18 specialty stores and 63 consignment counters as of September 30, 2022, with 12 consignment counters still closed due to COVID-19 restrictions[89] - The group is actively reviewing and enhancing its business plans to adapt to the changing business environment and mitigate risks posed by the COVID-19 pandemic[88] - The overall retail sales in Hong Kong recorded a slight growth of 2.1% during the period, but the positive impact of government consumption voucher schemes is diminishing[85] Expenses and Dividends - Other comprehensive expenses for the period totaled HKD 3,257,000, compared to HKD 1,527,000 in the previous year, reflecting a significant increase of 113.4%[7] - The company paid dividends amounting to HKD 7,620 thousand during the period[17] - The group did not declare an interim dividend for the six months ended September 30, 2022, consistent with the previous year[55] - Sales and distribution expenses slightly increased by 0.4% to HKD 39,330,000, while general and administrative expenses rose by 2.8% to HKD 14,234,000[97] Corporate Governance - The audit committee consists of three independent non-executive directors responsible for reviewing the financial reporting system and internal control procedures[137] - The company has complied with all provisions of the corporate governance code, except for the separation of the roles of chairman and CEO[132] - The company has maintained a public float of at least 25% of its total issued shares throughout the reporting period[136] Employee and Market Insights - The company employed 167 staff as of September 30, 2022, an increase from 158 staff as of March 31, 2022[109] - The unemployment rate in Hong Kong decreased from 3.9% to 3.8% between July-September 2022 and August-October 2022, indicating a continued improvement in the labor market[112] - The company is implementing stricter cost control measures and reallocating physical store locations and manpower to enhance operational efficiency amid economic uncertainties[112]
澳至尊(02031) - 2023 - 中期财报