Financial Performance - The group's revenue increased from approximately HK$74,100,000 for the six months ended September 30, 2021, to approximately HK$89,600,000 for the six months ended September 30, 2022, representing a growth of about HK$15,500,000 or approximately 20.9%[7] - The gross profit for the six months ended September 30, 2022, was approximately HK$57,600,000, compared to HK$48,200,000 for the same period in 2021, an increase of approximately 19.4%[7] - The profit attributable to owners of the company for the six months ended September 30, 2022, was approximately HK$10,600,000, up from HK$9,000,000 for the same period in 2021, reflecting an increase of approximately 17.6%[7] - The total comprehensive income for the six months ended September 30, 2022, was approximately HK$10,631,000, compared to HK$9,038,000 for the same period in 2021[9] - Basic earnings per share for the six months ended September 30, 2022, was HK$0.95, compared to HK$0.81 for the same period in 2021[9] - The profit before tax for the six months ended September 30, 2022, was HKD 10,631,000, compared to HKD 9,038,000 for the same period in 2021, reflecting a growth of 17.6%[31] - The group's net profit rose from approximately HKD 9 million to approximately HKD 10.6 million, an increase of about 17.6%[82] Dividends - The board declared an interim dividend of HK$0.013 per share for the six months ended September 30, 2022, totaling approximately HK$14,600,000, compared to a special dividend of HK$0.018 per share totaling approximately HK$20,200,000 for the same period in 2021[7] - The total interim dividend declared for the six months ended September 30, 2022, was HKD 14,600,000, down from HKD 20,200,000 for the same period in 2021, indicating a decrease of approximately 27.8%[45] - The interim dividend record date is December 2, 2022, with a payment date of December 30, 2022[127] Revenue Sources - Retail store sales contributed HKD 70,409,000 for the six months ended September 30, 2022, up from HKD 64,718,000 in the previous year, representing an increase of 7.9%[27] - Online store sales increased significantly to HKD 14,540,000 for the six months ended September 30, 2022, compared to HKD 8,140,000 in the same period last year, marking an increase of 78.5%[27] - The group generated HKD 58,783,000 in revenue from skincare products for the six months ended September 30, 2022, up from HKD 53,374,000 in the previous year, which is an increase of 10.5%[36] - The group’s revenue from food and health products reached HKD 21,062,000 for the six months ended September 30, 2022, compared to HKD 13,821,000 in the same period last year, reflecting a substantial increase of 52.1%[36] - The group’s total revenue from services amounted to HKD 1,909,000 for the six months ended September 30, 2022, compared to HKD 197,000 in the previous year, marking a significant increase of 867.5%[36] Expenses and Costs - The company reported a significant increase in sales costs, which rose to approximately HK$32,015,000 for the six months ended September 30, 2022, from HK$25,885,000 for the same period in 2021[9] - The operating expenses for the six months ended September 30, 2022, were approximately HK$19,268,000, compared to HK$18,940,000 for the same period in 2021[9] - The group incurred total capital expenditures of approximately HKD 970,000 for property, plant, and equipment during the six months ended September 30, 2022, a significant decrease from HKD 2,524,000 for the same period in 2021, representing a decline of approximately 61.6%[50] - Selling and distribution expenses increased from approximately HKD 17.1 million to approximately HKD 18.6 million, an increase of about 8.4%[77] - Administrative and operating expenses slightly increased from approximately HKD 18.9 million to approximately HKD 19.3 million, a growth of about 1.7%[79] Assets and Liabilities - As of September 30, 2022, total assets amounted to HKD 152,039,000, an increase from HKD 150,232,000 as of March 31, 2022[12] - The company reported a total equity of HKD 149,368,000 as of September 30, 2022, up from HKD 145,457,000 as of March 31, 2022, indicating a growth of 2.6%[12] - The total liabilities decreased from HKD 4,775,000 to HKD 2,671,000 in non-current liabilities, showing a reduction of 44.1%[12] - The company’s inventory as of September 30, 2022, was reported at HKD 12,795,000, compared to HKD 11,851,000 as of March 31, 2022, indicating an increase of 8.0%[12] - The company’s retained earnings increased to HKD 133,957,000 as of September 30, 2022, from HKD 123,326,000, reflecting a growth of 8.3%[14] Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2022, was HKD 17,935,000, compared to HKD 15,912,000 for the same period in 2021, representing a growth of 12.7%[17] - Cash and cash equivalents at the end of the period were HKD 71,922,000, an increase from HKD 63,745,000 at the beginning of the period, reflecting a rise of 12.1%[17] - The company incurred a net cash outflow from investing activities of HKD 4,098,000 for the six months ended September 30, 2022, compared to HKD 1,949,000 in the previous year[17] - The company paid dividends amounting to HKD 26,880,000 during the period, which was a significant cash outflow impacting the financing activities[17] Market Expansion and Strategy - The company aims to continue expanding its market presence and enhancing its product offerings in the upcoming periods[6] - The group aims to enhance competitiveness by expanding its sales network and enriching its product offerings[72] - The company opened three new retail stores, one in Causeway Bay, one in Kwun Tong, and one in Kowloon Bay/Tai Po, enhancing its retail network[23] - The company has actively sought suitable locations for new retail stores since its listing, successfully opening a new store in Kwai Fong in November 2021[23] Employee and Staffing - The group reported a total employee benefit expense of HKD 18,544,000 for the six months ended September 30, 2022, an increase from HKD 15,102,000 in the previous year, representing a rise of 16.2%[39] - The employee costs for the six months ended September 30, 2022, amounted to approximately HKD 18.5 million, an increase from HKD 15.1 million for the same period in 2021[99] - The company employed a total of 94 full-time employees and 16 part-time employees as of September 30, 2022, compared to 81 full-time and 14 part-time employees a year earlier[99] - The company has hired eight additional employees to meet staffing needs for the larger retail store in Causeway Bay and the new stores in Kwun Tong and Kwai Fong[105] Corporate Governance - The company has complied with the corporate governance code, except for the separation of roles between the chairman and CEO[125] - The Audit Committee has been established in accordance with GEM Listing Rules and consists of three independent non-executive directors[128] - The Audit Committee's main responsibilities include independent review of the group's financial reporting procedures and monitoring of audit processes[128] - The Audit Committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2022[128]
弥明生活百货(08473) - 2023 - 中期财报