Financial Performance - For the six months ended March 31, 2023, the group's unaudited revenue was approximately HKD 13.1 million, a decrease of about 5.1% compared to the same period in 2022[6]. - The group's unaudited gross profit for the same period was approximately HKD 4.9 million, down approximately 5.8% from HKD 5.2 million in 2022[7]. - The group recorded an unaudited net loss of approximately HKD 7.5 million for the six months ended March 31, 2023, compared to a net loss of approximately HKD 9.1 million in the same period of 2022[8]. - Basic loss per share for the six months ended March 31, 2023, was HKD 0.75, an improvement from HKD 0.91 for the same period in 2022[9]. - The company reported a net loss attributable to owners of HKD 7,506,000 for the six months ended March 31, 2023, compared to a loss of HKD 9,114,000 for the same period in 2022, representing a 17.6% improvement[32]. - Basic and diluted loss per share for the six months ended March 31, 2023, was HKD 0.75, compared to HKD 0.91 for the same period in 2022, indicating a 17.6% reduction in loss per share[32]. Assets and Liabilities - The total assets less current liabilities as of March 31, 2023, were HKD 64.3 million, down from HKD 76.2 million as of September 30, 2022[13]. - The total equity as of March 31, 2023, was HKD 57.6 million, down from HKD 65.1 million as of September 30, 2022[13]. - The total trade receivables amounted to HKD 12,259,000 as of March 31, 2023, down from HKD 19,394,000 as of September 30, 2022[40]. - Trade payables totaled HKD 3,261,000 as of March 31, 2023, down from HKD 5,050,000 as of September 30, 2022[43]. Cash Flow - The group's cash and cash equivalents increased to HKD 27.4 million as of March 31, 2023, compared to HKD 23.8 million at the beginning of the period[17]. - The net cash generated from operating activities for the six months ended March 31, 2023, was HKD 0.7 million, a decrease from HKD 2.0 million in the previous year[17]. - The group reported a net cash inflow from investing activities of HKD 7.6 million for the six months ended March 31, 2023[17]. - As of March 31, 2023, the group's cash and bank balances, along with time deposits, amounted to approximately HKD 64.8 million, a decrease from HKD 68.5 million as of September 30, 2022[60]. Expenses - Employee benefits expenses, including directors' remuneration, amounted to HKD 10,398,000 for the six months ended March 31, 2023, down from HKD 11,023,000 in the same period of 2022, reflecting a decrease of 5.6%[29]. - The service costs decreased from HKD 8.6 million for the six months ended March 31, 2022, to HKD 8.2 million for the same period in 2023, a reduction of approximately 4.7%[50]. - The gross profit decreased from HKD 5.2 million for the six months ended March 31, 2022, to HKD 4.9 million for the same period in 2023, a decline of approximately 5.8%[51]. - Other income increased from HKD 0.1 million for the six months ended March 31, 2022, to HKD 0.6 million for the same period in 2023, primarily due to increased interest income from fixed deposits[52]. Dividends - The group did not declare any dividends for the six months ended March 31, 2023, consistent with the previous year[9]. - The board of directors decided not to declare an interim dividend for the six months ended March 31, 2023, consistent with the previous year[81]. Business Operations - The company operates solely in the financial printing services sector, with all revenue generated in Hong Kong[25]. - The company has identified only one operating segment, which is the provision of financial printing services[25]. - The company has no tax liabilities in the Cayman Islands and the British Virgin Islands due to the absence of taxable profits during the review periods[26]. - The group plans to explore opportunities in the Greater China region and Southeast Asia to expand its business[47]. Shareholding and Governance - As of March 31, 2023, the company’s major shareholder, Achiever Choice, holds 560,000,000 shares, representing 56% of the company's equity[87]. - Mr. Chan, the chairman and executive director, is deemed to have a beneficial interest in the same 560,000,000 shares held by Achiever Choice[84]. - Another significant shareholder, Ms. Yuen, holds 192,200,000 shares, which accounts for 19% of the company's equity[87]. - The company has complied with all corporate governance codes as per GEM Listing Rules Appendix 15 during the reporting period[92]. - The audit committee has reviewed the unaudited condensed consolidated results for the six months ending March 31, 2023, ensuring compliance with applicable accounting standards[96]. Capital Expenditures - The total cost of acquiring property, plant, and equipment for the six months ended March 31, 2023, was approximately HKD 65,000, compared to HKD 0 for the same period in 2022[33]. - Capital expenditures for the six months ended March 31, 2023, were approximately HKD 65,000[61]. - As of March 31, 2023, the group had no significant capital commitments or contingent liabilities[74][76]. Other Information - The company has adopted all relevant amendments to Hong Kong Financial Reporting Standards effective from October 1, 2022, with no significant impact on the financial statements[22]. - The group does not face significant foreign exchange risk as its business activities are primarily conducted in Hong Kong and denominated in HKD[73]. - No stock options were granted, exercised, canceled, or lapsed under the stock option plan during the six months ending March 31, 2023[89]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended March 31, 2023[77]. - The group has revised the use of unutilized net proceeds from the IPO to general working capital and corporate purposes[67]. - The incremental borrowing rate applicable to lease liabilities remained at 5.25% for both periods[38]. - The interest expense on lease liabilities for the six months ended March 31, 2023, was HKD 469,000, compared to HKD 401,000 for the same period in 2022[38]. - There were no repurchases of the company's listed securities during the six months ending March 31, 2023[94]. - The company has not engaged in any business that competes or may compete with its group business as of March 31, 2023[91]. - The company has adopted the prescribed trading standards for directors as per GEM Listing Rules during the reporting period[93]. - No other entities or individuals, apart from those disclosed, were known to have interests in the company's shares as of March 31, 2023[88].
钜京控股(08450) - 2023 - 中期财报