Financial Performance - Revenue for the six months ended September 30, 2022, was HK$791,116,000, a decrease of 21.5% compared to HK$1,008,422,000 for the same period in 2021[14]. - Gross profit for the period was HK$131,992,000, down 30.5% from HK$189,784,000 in the previous year[14]. - The operating loss for the six months was HK$40,041,000, compared to an operating profit of HK$50,375,000 in the same period last year[14]. - The net loss for the period was HK$39,242,000, compared to a profit of HK$40,113,000 in the previous year[14]. - Basic loss per share was HK(9.2) cents, compared to earnings of HK12.3 cents per share in the same period last year[14]. - Total comprehensive loss for the period was HK$73,991,000, compared to a comprehensive income of HK$46,138,000 in the previous year[16]. - The company reported a gross profit margin of 16.7% for the six months ended September 30, 2022, down from 18.8% in the previous year[14]. - The loss before income tax for the period was HK$40,522, with a net loss of HK$39,242 after accounting for an income tax credit of HK$1,280[54]. - The Group recorded an unaudited consolidated net loss of approximately HK$39,242,000, compared to an unaudited consolidated net profit of HK$40,113,000 in the corresponding period last year[200]. Revenue Breakdown - Total revenue from contracts with customers for the six months ended September 30, 2022, was HK$766,534, a decrease of 22.1% from HK$984,917 in 2021[45]. - Revenue from hi-tech distribution and services segment was HK$736,875, while leasing operation segment contributed HK$54,241, totaling HK$791,116 for the period[54]. - Revenue from the PRC, including Hong Kong, was HK$751,817, down from HK$934,445 in the previous year, reflecting a decline of 19.5%[45]. - The hi-tech distribution and services division experienced a revenue decrease of 20.4% due to semiconductor chip shortages and disruptions in production and logistics caused by lockdowns in major Chinese cities[190]. - The leasing division's revenue decreased by 34.2%, primarily due to reduced scale and orders for electronics consumables products amid economic downturn pressures[190]. Expenses and Liabilities - Selling and distribution expenses decreased to HK$66,711,000 from HK$70,443,000, reflecting a reduction of 5.3%[14]. - General and administrative expenses increased to HK$113,462,000 from HK$87,379,000, representing a rise of 29.9%[14]. - Total operating expenses for the Interim Period amounted to approximately HK$180,173,000, an increase of 14.2% from approximately HK$157,822,000 in the corresponding period last year[191]. - The Group recorded a net exchange loss of approximately HK$25,498,000 during the Interim Period, compared to a net exchange gain of HK$11,838,000 in the corresponding period last year[191]. - The total operating expenses (excluding exchange loss) to revenue ratio increased to 20% from 17% in the corresponding period last year[192]. Assets and Equity - Total assets as of September 30, 2022, amounted to HK$2,863,986, a decrease from HK$3,161,987 as of March 31, 2022, representing a decline of approximately 9.4%[19]. - Total equity attributable to shareholders as of September 30, 2022, was HK$1,373,451, down from HK$1,447,442, indicating a decrease of approximately 5.1%[19]. - Cash and cash equivalents decreased to HK$447,925 from HK$485,495, a decline of about 7.7%[19]. - Trade and other receivables dropped significantly from HK$807,078 to HK$519,859, a decrease of approximately 35.6%[19]. - The company reported a comprehensive loss for the period of HK$73,991, compared to a profit of HK$40,113 in the previous period[27]. Cash Flow and Investments - Net cash flows from operating activities improved to HK$48,232,000 compared to a net outflow of HK$131,349,000 in the previous year[30]. - Net cash flows used in investing activities decreased to HK$49,475,000 from HK$191,162,000 year-on-year[30]. - The principal portion of lease payments decreased to HK$8,026,000 from HK$12,186,000 year-on-year[32]. - Capital expenditure for the period amounted to HK$83,869, with HK$31,290 attributed to hi-tech distribution and services and HK$52,579 to leasing operations[54]. Shareholder Information - The company does not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year where no dividend was paid[122]. - The number of issued ordinary shares increased from 425,125,000 to 425,125,000, with a total share capital of HK$42,512,000 as of 30th September 2022[149]. - As of September 30, 2022, the company had 7,404,388 share options outstanding with an exercise price of HK$1.14, valid from August 16, 2017, to August 15, 2027[163][164]. - The company has a share option scheme in place to reward participants who contribute to the Group, valid for ten years from the adoption date[148]. Operational Insights - The company is engaged in hi-tech distribution, leasing, and property investment, focusing on surface mount technology and finance lease arrangements[34]. - The strict pandemic control policies in major Chinese cities contributed to disruptions in component production and logistics, affecting the Group's customers[199]. - Customers have been delaying or scaling down their manufacturing facilities acquisition plans, leading to a significant drop in orders to the Group during the first half of 2022[199]. - AMT has a team of over 250 engineers and customer care staff located in more than 25 cities across China, Southeast Asia, Vietnam, and India[199]. - The Group's customers include most major telecom and electronic equipment manufacturers globally, which positions AMT favorably as demand increases[199].
北亚策略(08080) - 2023 - 中期财报