Financial Performance - The company recorded revenue of approximately HKD 137,465,000 for the six months ended September 30, 2022, representing an increase of 12.93% compared to HKD 121,704,000 for the same period in 2021[5] - Profit attributable to owners of the company for the six months ended September 30, 2022, was approximately HKD 3,427,000, a significant increase from HKD 389,000 for the same period in 2021[5] - The gross profit margin improved to approximately 24.87% for the six months ended September 30, 2022, compared to 24.92% for the same period in 2021[7] - The group's revenue for the six months ended September 30, 2022, was HKD 137,465,000, an increase of 12.9% compared to HKD 121,704,000 for the same period in 2021[23] - The group's gross profit increased by approximately 12.7% from about HKD 30,340,000 for the six months ended September 30, 2021, to about HKD 34,204,000 for the six months ended September 30, 2022, with a gross margin maintained at approximately 24.9%[56] Dividends and Equity - The company did not recommend the payment of any interim dividend for the six months ended September 30, 2022, consistent with the previous year[5] - The company’s total equity attributable to owners increased to HKD 104,842,000 as of September 30, 2022, from HKD 101,415,000 as of March 31, 2022[9] - The company did not declare or recommend any dividends for the six months ended September 30, 2022[35] Cash Flow and Assets - The net cash generated from operating activities for the six months ended September 30, 2022, was HKD 4,203,000, compared to a net cash used of HKD 468,000 for the same period in 2021[14] - Total assets as of September 30, 2022, amounted to HKD 119,583,000, an increase from HKD 111,456,000 as of March 31, 2022[9] - The group reported a net decrease in cash and cash equivalents of HKD 789,000 for the six months ended September 30, 2022, compared to a decrease of HKD 3,433,000 for the same period in 2021[14] Employee Costs and Subsidies - Total employee costs for the six months amounted to HKD 13,315,000, reflecting an increase of 24.0% from HKD 10,700,000 in the same period last year[31] - The group recognized government subsidies of HKD 1,372,000 during the six months, which were related to the "Employment Support" scheme and restaurant subsidy program[29] - The group experienced a significant increase in demand for food and beverage products from local restaurants, hotels, and private clubs during the reporting period[53] Expenses and Financing - The company’s financing costs for the six months ended September 30, 2022, were HKD 340,000, compared to HKD 210,000 for the same period in 2021[7] - Selling and distribution expenses accounted for about 11.4% of total revenue for the six months ended September 30, 2022, compared to 11.3% for the same period in 2021, reflecting increased commissions and bonuses for sales personnel[59] - Administrative expenses increased from approximately HKD 15,502,000 to about HKD 16,370,000, primarily due to increased depreciation from newly leased warehouse assets[61] Strategic Plans and Investments - The group plans to allocate approximately HKD 12,560,000 to upgrade the ERP system to enhance operational efficiency, with about HKD 5,272,000 already spent on consulting services and software and hardware acquisition[89][90] - Approximately HKD 5,540,000 is planned for sales and marketing activities to attract more customers, with HKD 1,242,000 already utilized for advertising and participation in local food exhibitions[90] - The group has allocated around HKD 9,000,000 for the development of restaurant services, with HKD 3,064,000 already spent on renovations and startup costs for a new restaurant in Tsim Sha Tsui[92] Corporate Governance and Compliance - The company has maintained high standards of corporate governance, adhering to the principles and code provisions outlined in the GEM Listing Rules[108] - The board believes that the company has complied with the corporate governance code as of September 30, 2022[109] - The company has confirmed compliance with the non-competition agreement established on March 27, 2017, with all commitments adhered to by the controlling shareholders as of September 30, 2022[106] Market Outlook and Risks - The board anticipates that the Hong Kong economy will take time to return to normal and will closely monitor market conditions for suitable business opportunities[52] - The company remains cautiously optimistic about its core business despite economic uncertainties related to the Omicron variant[93] - Key strategic, operational, and financial risks include market competition, employee commitment and satisfaction, warehousing disruptions, customer credit risk, and investment returns[93]
亚洲富思(08413) - 2023 - 中期财报