Financial Performance - The company's revenue for the six months ended September 30, 2022, was approximately HKD 42,013,000, a decrease of 20.5% compared to HKD 52,842,000 for the same period in 2021[5] - The loss attributable to owners of the company for the six months ended September 30, 2022, was HKD 8,368,000, compared to a loss of HKD 9,692,000 for the same period in 2021, representing a 13.6% improvement[7] - The gross profit for the six months ended September 30, 2022, was HKD 23,231,000, down 16.2% from HKD 27,683,000 in the previous year[5] - The operating loss for the six months ended September 30, 2022, was HKD 7,989,000, a decrease from HKD 9,765,000 in the same period of 2021, indicating a 18.2% reduction in losses[5] - The company reported a net loss of HKD 4,392,000 for the three months ended September 30, 2022, compared to a net loss of HKD 8,426,000 for the same period in 2021, showing a 47.9% improvement[5] - The company reported a total comprehensive loss of HKD 9,692,000 for the six months ended September 30, 2022, compared to a loss of HKD 8,368,000 for the same period in 2021[14] - The company reported a consolidated loss of HKD 9,692,000 for the six months ended September 30, 2022, compared to a loss of HKD 4,263,000 in the same period last year[36] Assets and Liabilities - The total assets as of September 30, 2022, were HKD 145,801,000, an increase from HKD 137,306,000 as of March 31, 2022[9] - The company's non-current assets as of September 30, 2022, totaled HKD 76,931,000, a decrease from HKD 87,827,000 as of March 31, 2022[9] - Total equity attributable to owners of the company decreased to HKD 258,002,000 as of September 30, 2022, from HKD 267,694,000 as of March 31, 2022[14] - The company's total liabilities increased, contributing to the overall financial challenges faced during the reporting period[14] Cash Flow and Liquidity - The company's cash and cash equivalents as of September 30, 2022, were HKD 17,156,000, down from HKD 21,684,000 as of March 31, 2022, reflecting a decrease of 20.9%[9] - The net cash used in operating activities for the six months ended September 30, 2022, was HKD 6,512,000, compared to HKD 7,424,000 for the same period in 2021, indicating a slight improvement[18] - The company had cash and cash equivalents of HKD 17,156,000 at the end of the reporting period, down from HKD 24,309,000 at the end of the previous year[18] - As of September 30, 2022, the company's short-term bank deposits and cash amounted to HKD 17,156 million, down from HKD 21,684 million as of March 31, 2022, indicating a decrease of approximately 20.9%[55] Shareholder and Capital Structure - The company completed a rights issue on September 21, 2022, issuing 120,179,677 shares at a subscription price of HKD 0.12 per share, raising approximately HKD 14,420,000 before expenses[81] - The company's capital structure changed with the rights issue, increasing the number of issued shares from 240,359,354 to 360,539,031[84] - Approximately HKD 6,000,000 from the rights issue has been allocated to expand the lending business, while HKD 5,200,000 is earmarked for retail business expansion[83] - The company reported no borrowings as of September 30, 2022, maintaining a debt-to-equity ratio of zero[86] - As of September 30, 2022, the major shareholder, Bofeng Management Limited, holds 181,196,866 shares, representing approximately 50.26% of the company's issued share capital[94] Dividend Policy - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[3] - The board of directors did not recommend an interim dividend for the six months ending September 30, 2022[91] Operational Developments - The company launched a new product line in the pet products sector, including supplements and food, with brands such as "Chicken Essence King" and "Petural" introduced during the period[73] - The company has continued to develop its own brand products to meet changing customer demands, including a range of products from local and overseas suppliers[73] - The company has also introduced a new line of human health supplements named "Cordyceps 19" in response to the COVID-19 pandemic[73] - The lending business generated approximately HKD 16,300,000 in revenue during the six-month period, with expectations for sustainable income in the future[75] - The retail and wholesale segment's revenue was about HKD 25,800,000 for the six months ending September 30, 2022, a decrease of approximately 28% compared to HKD 35,800,000 in the same period of 2021[78] Governance and Compliance - The audit committee has reviewed the unaudited consolidated performance for the six-month period and confirmed compliance with applicable accounting standards and regulations[100] - The company has established a remuneration committee consisting of three independent non-executive directors and three executive directors to review and formulate remuneration policies[101] - The company has adhered to the corporate governance code as per GEM listing rules during the six-month period[98] - The company has established a nomination committee to review any proposed changes and recommend candidates to the board[102] - The audit committee is responsible for reviewing the company's annual reports, financial statements, and interim reports, providing recommendations to the board[99] - The company has adopted trading standards as per GEM listing rules and confirmed compliance by all directors during the six-month period[104] - There are no interests held by directors or management shareholders in any competing businesses[96]
仍志集团控股(08079) - 2023 Q2 - 季度财报