Financial Performance - The group's revenue for the six months ended September 30, 2022, was approximately HKD 42.8 million, a decrease of about HKD 5.7 million or 11.7% compared to HKD 48.5 million for the same period in 2021[4] - The group's net profit for the six months ended September 30, 2022, was approximately HKD 0.5 million, down by about HKD 4.0 million or 88.9% from HKD 4.5 million in the same period of 2021[4] - The total comprehensive income attributable to equity holders for the six months ended September 30, 2022, was approximately HKD 0.5 million, a decline of about HKD 4.1 million or 89.8% compared to HKD 4.6 million for the same period in 2021[4] - The group's gross profit for the six months ended September 30, 2022, was HKD 28.2 million, down from HKD 32.8 million in the same period of 2021[8] - Basic earnings per share for the period were HKD 0.03, a decrease from HKD 0.29 in the previous year, reflecting a decline of approximately 89.7%[30] - The company's profit decreased by approximately 88.9% from about HKD 4.5 million to approximately HKD 0.5 million[51] Dividend and Shareholder Information - The board of directors does not recommend the payment of an interim dividend for the six months ended September 30, 2022[4] - The company did not recommend the payment of an interim dividend for the period, consistent with the previous year[31] - Major shareholder Yuting holds 47.09% of the company's shares, amounting to 745,860,000 shares[75] - Ms. Cen has a spouse interest in 807,760,000 shares, representing 50.99% of the company's shares[75] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[80] - The company has not granted any share options under the share option scheme during the reporting period[88] Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD (6,094) thousand for the six months ended September 30, 2022, compared to HKD 16,696 thousand for the same period in 2021, indicating a significant decline in operational cash flow[15] - The company had cash and cash equivalents of HKD 16,128 thousand as of September 30, 2022, down from HKD 25,856 thousand at the same date in 2021, indicating a decrease of approximately 37.5%[15] - The financing activities generated a net cash inflow of HKD 114 thousand, contrasting with a net cash outflow of HKD (19,530) thousand in the previous year, showing a significant improvement[15] - The company reported a net cash outflow of HKD (6,057) thousand for the period, compared to HKD (3,284) thousand in the previous year, indicating a worsening cash position[15] Revenue Breakdown - Total revenue for the group was HKD 42,743 thousand for the six months ended September 30, 2022, down from HKD 48,520 thousand in 2021, representing a decrease of approximately 11.5%[24] - Furniture and home decor sales amounted to HKD 37,273 thousand, a decrease of 6.2% from HKD 39,753 thousand in the previous year[24] - Direct sales revenue was approximately HKD 36.7 million, a slight increase of about HKD 0.4 million or 1.1% compared to HKD 36.3 million for the same period in 2021[60] - Commission income decreased from approximately HKD 5.9 million to HKD 3.7 million, reflecting a decline in furniture agency services[64] - Food and beverage income from TREE Café decreased from approximately HKD 2.1 million to HKD 1.8 million during the reporting period[62] - The company did not record any distribution and licensing fee income during the period, compared to HKD 0.8 million in the previous year[61] Expenses and Liabilities - Selling and marketing expenses rose by approximately 4.1% from about HKD 17.3 million to approximately HKD 18.0 million, mainly due to increased employee salaries[48] - Administrative expenses increased by approximately 14.1% from about HKD 11.0 million to approximately HKD 12.5 million, attributed to foreign exchange losses and higher office expenses[49] - The group's total liabilities as of September 30, 2022, were HKD 72.1 million, compared to HKD 74.7 million as of March 31, 2022[10] - Trade payables increased from HKD 7.714 million to HKD 7.947 million, reflecting a slight increase in obligations to suppliers[40] Assets and Investments - The group's total assets less current liabilities as of September 30, 2022, amounted to HKD 68.6 million, slightly up from HKD 68.2 million as of March 31, 2022[10] - The net asset value as of September 30, 2022, was HKD 63.1 million, an increase from HKD 62.7 million as of March 31, 2022[11] - The net amount of loans receivable increased significantly from HKD 1.050 million to HKD 9.089 million, indicating a substantial rise in lending activities[37] - The company acquired Easy Home Credit Limited, which primarily provides consumer loan services, in January 2022[53] Corporate Governance - The company has adhered to the corporate governance code as per GEM listing rules since its listing date[82] - The company was successfully listed on GEM on January 25, 2018[80] - The chairman and CEO roles are held by the same individual, Mr. Tang, to provide consistent leadership[83] - The company has established an audit committee to oversee financial reporting and internal controls[90] - The audit committee has reviewed the unaudited consolidated financial statements for the reporting period[90] Future Outlook - The company plans to continue focusing on its two TREE retail stores and e-commerce platform amid a challenging retail environment[67] - The company aims to enhance its current revenue sources and explore new opportunities through integration and investment[67]
齐家控股(08395) - 2023 - 中期财报