Financial Performance - Revenue for the six months ended September 30, 2022, was approximately HKD 120.8 million, a decrease of about HKD 0.6 million or 0.5% compared to HKD 121.4 million for the same period in 2021[6] - Net profit for the same period was approximately HKD 5.7 million, an increase of about HKD 2.1 million or 58.3% compared to HKD 3.6 million for the six months ended September 30, 2021[6] - Basic and diluted earnings per share for the six months ended September 30, 2022, were HKD 0.57, compared to HKD 0.36 for the same period in 2021[8] - The company reported a gross profit of HKD 75.6 million for the six months ended September 30, 2022, down from HKD 78.3 million for the same period in 2021[8] - For the six months ended September 30, 2022, the company reported a total comprehensive income of HKD 5,713,000, an increase from HKD 3,559,000 for the same period in 2021, representing a growth of approximately 60.5%[12] - For the six months ended September 30, 2022, the pre-tax profit was 5,713,000 HKD, an increase of 60% compared to 3,559,000 HKD in the same period of 2021[30] Assets and Liabilities - Total assets less current liabilities as of September 30, 2022, amounted to HKD 89.4 million, an increase from HKD 70.7 million as of March 31, 2022[9] - Non-current assets increased to HKD 97.2 million as of September 30, 2022, from HKD 77.1 million as of March 31, 2022[9] - Current liabilities increased to HKD 68.3 million as of September 30, 2022, compared to HKD 45.8 million as of March 31, 2022[9] - Trade receivables as of September 30, 2022, totaled 892,000 HKD, significantly up from 205,000 HKD as of March 31, 2022[36] - Trade payables as of September 30, 2022, amounted to 21,016,000 HKD, an increase from 5,564,000 HKD as of March 31, 2022[37] - The bank borrowings as of September 30, 2022, were 5,330,000 HKD, down from 7,333,000 HKD as of March 31, 2022[39] Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2022, was HKD 42,654,000, compared to HKD 37,312,000 in 2021, indicating an increase of about 14.5%[14] - The company reported a net increase in cash and cash equivalents of HKD 18,455,000 for the six months ended September 30, 2022, compared to HKD 10,661,000 in 2021, which is an increase of about 73.5%[14] - Cash and cash equivalents at the end of the period were HKD 47,280,000, down from HKD 57,060,000 at the end of September 2021, indicating a decrease of approximately 17.1%[14] - Cash and cash equivalents were approximately HKD 47.3 million as of September 30, 2022, compared to HKD 28.8 million as of March 31, 2022[72] Expenses - The cost of goods sold for the six months ended September 30, 2022, was HKD 45.1 million, compared to HKD 43.1 million for the same period in 2021[8] - Administrative expenses for the six months ended September 30, 2022, were HKD 10.3 million, slightly decreased from HKD 10.4 million for the same period in 2021[8] - Employee costs decreased by about 10.3% to approximately HKD 29.7 million from HKD 33.1 million, influenced by government subsidies and restaurant closures[57] - Rental and related expenses increased by approximately 13.2% to HKD 7.7 million, attributed to improved consumer sentiment following the relaxation of measures[60] - Fuel and utility expenses rose by about 20.0% to HKD 3.0 million, driven by the opening of new restaurants[61] Dividends and Shareholder Information - The company did not declare an interim dividend for the period, consistent with the previous year[6] - The company does not plan to declare an interim dividend for the six months ended September 30, 2022[81] - As of September 30, 2022, the company has 750,000,000 shares held by Future More, representing 75% of the issued shares[87] - Mr. Kwan and Ms. Kwan each hold 750,000,000 shares in Future More, which is 75% of the total shares, indicating significant control by these individuals[85] - The ownership structure indicates that Mr. Kwan, Ms. Kwan, and their associates are considered concert parties, collectively holding significant shares in Future More[85] Governance and Compliance - The board of directors believes that the dual role of the chairman and CEO held by Mr. Kwan is in the best interest of the company due to his long-standing management experience since the year 2000[94] - The company has complied with all applicable corporate governance code provisions, except for the separation of roles between the chairman and CEO[93] - The company has maintained the public float required by GEM listing rules as of the report date[95] - The company has adopted the mandatory standards for securities trading as per GEM listing rules, and all directors have confirmed compliance during the period[97] Operational Developments - The company opened a new restaurant under the "犇殿" brand in Tsing Yi in July 2022, providing an additional revenue source[48] - The management team will continue to monitor global interest rates and inflation trends, which may impact operational costs in the restaurant industry[48] Miscellaneous - The company has not identified any direct or indirect competition from its directors or major shareholders as of September 30, 2022[91] - The company has not disclosed any interests or positions that would conflict with its business operations as of September 30, 2022[91] - There have been no significant events affecting the group since September 30, 2022, up to the report date[101]
MS CONCEPT(08447) - 2023 - 中期财报