Revenue Performance - The Group recorded revenue of approximately HK$162.9 million for the six months ended 30 September 2022, representing a decrease of 3.0% compared to HK$168.0 million for the same period in 2021[20]. - Revenue from the property management segment increased by approximately HK$6.5 million due to a rise in the number of projects managed, while the lifestyle entertainment segment saw a decrease of approximately HK$11.6 million due to temporary business suspension related to COVID-19 measures[20]. - The overall decrease in revenue was primarily attributed to the impact of COVID-19 prevention measures on the Group's clubbing business in Hong Kong[20]. - For the six months ended September 30, 2022, the company's revenue was HK$162.9 million, a decrease of 3.3% from HK$168.0 million in the same period of 2021[132]. - Revenue from club and restaurant operations in Hong Kong was HK$156,520,000, an increase of 4.4% compared to HK$149,993,000 in the previous year[180]. - Revenue from property management contracts in the PRC was HK$6,411,000, a significant decrease of 64.4% from HK$18,036,000 in the same period of 2021[180]. Profitability - The Group recorded a net profit of approximately HK$18.3 million for the six months ended 30 September 2022, compared to a net profit of approximately HK$8.6 million for the same period in 2021[31]. - The profit for the period was HK$18.3 million, representing an increase of 111.4% compared to HK$8.6 million in the previous year[132]. - The profit from operations increased to HK$25.2 million, up 57.0% from HK$16.1 million in the same period last year[132]. - Basic and diluted earnings per share were 3.2 cents, compared to 2.3 cents in the previous year, reflecting a growth of 39.1%[132]. - Total comprehensive income for the period was HKD (12,343,000), compared to HKD 12,536,000 in the previous year, indicating a significant decline[134]. Expenses and Costs - Staff costs decreased by approximately 5.4% or HK$4.0 million to approximately HK$69.5 million for the six months ended 30 September 2022, down from HK$73.5 million for the same period in 2021[21]. - The decrease in staff costs was mainly due to a reduction in the number of staff in the property management segment as a result of lean process improvements[21]. - Advertising and marketing expenses decreased by approximately 56.0% or HK$1.4 million to approximately HK$1.1 million for the six months ended 30 September 2022 from approximately HK$2.5 million for the same period in 2021[25]. - Other operating expenses increased by approximately 63.8% or HK$8.8 million to approximately HK$22.6 million for the six months ended 30 September 2022 from approximately HK$13.8 million for the same period in 2021[30]. Financial Position - As of 30 September 2022, total current assets were approximately HK$368.1 million, down from HK$431.3 million as of 31 March 2022, while current liabilities were approximately HK$227.6 million, down from HK$318.8 million[32]. - The Group maintained cash at bank and in hand of approximately HK$276.6 million as of 30 September 2022, compared to HK$330.2 million as of 31 March 2022[37]. - Total interest-bearing borrowings as of 30 September 2022 were approximately HK$59.6 million, down from HK$102.1 million as of 31 March 2022[38]. - The gearing ratio as of 30 September 2022 was approximately 0.3, compared to 0.4 as of 31 March 2022[38]. - The Group's capital structure included equity of approximately HK$217.2 million, down from HK$243.9 million as of March 31, 2022, and loans from the controlling shareholder of approximately HK$74.4 million, down from HK$110.9 million[44]. Strategic Initiatives - The Group aims to maintain its status as a leading nightlife entertainment service provider in Hong Kong as the industry recovers from the COVID-19 outbreak[12]. - The Group continues to explore opportunities for market expansion and new strategies in both lifestyle entertainment and property management segments[12]. - The property management segment is expected to continue being a stable revenue contributor, with plans to enhance brand reputation and explore value-added services[65]. - The Group aims to improve its market position in the lifestyle entertainment segment by attracting young customers and is evaluating the benefits of providing alcoholic beverages through various channels[63]. - The Group is exploring different business and investment opportunities to diversify its income streams, subject to board approval and compliance with listing rules[54]. Shareholder Information - As of September 30, 2022, Zheng Jian Jiang holds a long position of 337,950,000 ordinary shares, representing approximately 68.55% of the issued share capital of the Company[84]. - Ze Hui Limited, also controlled by Zheng Jian Jiang, holds the same number of shares, accounting for 68.55% of the issued share capital[84]. - Huiri Limited, a company in which Zheng Jian Jiang has a beneficial interest, also holds 337,950,000 shares, equating to 68.55% of the issued share capital[84]. - He Yi Ju, the spouse of Zheng Jian Jiang, is deemed to have an interest in the same number of shares, which is 337,950,000, or 68.55% of the issued share capital[88]. - Xu Xingen holds 32,400,000 shares, which is approximately 6.57% of the issued share capital[84]. Corporate Governance - The Audit Committee reviewed the financial reporting process and internal control procedures for the six months ended September 30, 2022[112]. - The interests of Directors and chief executives in shares and debentures were reported in compliance with the Securities and Futures Ordinance[80]. - As of September 30, 2022, no additional interests or short positions were reported by Directors or chief executives beyond those already disclosed[81]. Cash Flow and Financing - Cash generated from operations decreased significantly to HK$1,105,000 from HK$21,766,000, representing a decline of approximately 94.9% year-over-year[149]. - Net cash used in operating activities was HK$(11,678,000), compared to a net cash generation of HK$14,400,000 in the previous year[149]. - The company reported a net cash outflow from financing activities of HK$(20,530,000), a significant decrease from a net inflow of HK$4,399,000 in the prior year[152]. - The company utilized HK$29.0 million for repaying part of the loans from controlling shareholders as of September 30, 2022[113]. - The effect of foreign exchange rate changes resulted in a decrease of HK$(28,046,000) in cash and cash equivalents, highlighting the impact of currency fluctuations[152].
奥克斯国际(02080) - 2023 - 中期财报