Financial Performance - The Group's profit for the six months ended September 30, 2023, was approximately HK$1.2 million, down from approximately HK$2.7 million in 2022, representing a decline of about 55.6%[19]. - The Group's revenue for the six months ended September 30, 2023, was approximately HK$80.1 million, an increase of approximately 11.4% compared to HK$71.9 million for the same period in 2022[19]. - The Group's gross profit increased by approximately HK$1.0 million, or approximately 4.5%, from approximately HK$21.4 million to approximately HK$22.4 million for the six months ended 30 September 2023[44]. - The Group's gross profit margin decreased from approximately 29.8% to approximately 27.9% for the six months ended 30 September 2023[44]. - Profit for the period decreased to HK$1,240,000, down 53.8% from HK$2,686,000 in the previous year[125]. - Basic earnings per share for the period was HK$0.17, a decrease from HK$0.36 in the same period last year[125]. - The total comprehensive income for the period was HK$995,000, compared to HK$1,955,000 for the same period in 2022, reflecting a decrease of approximately 49%[130]. Revenue Breakdown - Revenue from Gem-set Jewellery Products was approximately HK$29.9 million, an increase of approximately HK$0.9 million, or approximately 3.1%, compared to approximately HK$29.0 million for the same period last year[30]. - Revenue from pure gold products was approximately HK$35.9 million, an increase of approximately HK$1.5 million, or approximately 4.3%, compared to approximately HK$34.4 million for the same period last year[31]. - Revenue from trading of recycled gold products was approximately HK$14.3 million, an increase of approximately HK$5.8 million, or approximately 68.6%, compared to approximately HK$8.5 million for the same period last year[36]. - Retail channel revenue was approximately HK$59.2 million, an increase of approximately HK$0.8 million, or approximately 1.3%, compared to approximately HK$58.4 million for the same period last year[37]. - Wholesale channel revenue was approximately HK$6.5 million, an increase of approximately HK$1.6 million, or approximately 32.7%, compared to approximately HK$4.9 million for the same period last year[38]. Expenses and Costs - Other income decreased by approximately HK$1.8 million to approximately HK$0.1 million for the six months ended 30 September 2023, primarily due to the unavailability of Government Grants[45]. - Selling and distribution costs increased by approximately HK$0.4 million or about 3.2% to approximately HK$12.5 million for the six months ended 30 September 2023[51]. - General and administrative expenses rose by approximately HK$0.4 million or about 5.9% to approximately HK$7.1 million for the six months ended 30 September 2023[52]. - Finance costs for the six months ended September 30, 2023, totaled HK$671,000, slightly down from HK$686,000 in 2022[158]. Assets and Liabilities - Total assets as of 30 September 2023 were approximately HK$118.6 million, down from approximately HK$128.3 million as of 31 March 2023[53]. - Total interest-bearing borrowings decreased to approximately HK$25.9 million as of 30 September 2023 from approximately HK$28.9 million as of 31 March 2023[54]. - The current ratio improved to approximately 1.83 times as of 30 September 2023, compared to approximately 1.63 times as of 31 March 2023[54]. - The group's gearing ratio decreased from approximately 41.0% as of 31 March 2023 to approximately 36.2% as of 30 September 2023, primarily due to a reduction in bank borrowings[59]. - Total equity as of September 30, 2023, was HK$71,356,000, up from HK$70,361,000 as of March 31, 2023[128]. Cash Flow - For the six months ended September 30, 2023, the net cash generated from operating activities was HK$5,644,000, a significant increase from HK$506,000 in the same period of 2022[131]. - The cash and cash equivalents at the end of the period were HK$13,179,000, down from HK$18,785,000 at the end of September 2022, indicating a decrease of about 30%[133]. - The net cash used in investing activities was HK$4,800,000, a decrease from the net cash generated of HK$5,416,000 in the prior year[131]. - The net cash used in financing activities was HK$8,304,000, compared to HK$7,673,000 in the same period of 2022, indicating an increase of about 8%[131]. Corporate Governance and Compliance - The Company has adopted corporate governance practices in compliance with the GEM Listing Rules, with a noted deviation from code provision C.2.1[81]. - The Company has conducted regular reviews of its risk management and internal control systems to ensure effectiveness[114]. - The Directors and their close associates had no interests in any competing business as of September 30, 2023[110]. - The company maintained the sufficiency of public float requirement as specified in the GEM Listing Rules[120]. Employee and Shareholder Information - The group employed 75 employees as of 30 September 2023, with no significant obligations apart from defined contribution schemes[74]. - Mr. Fu Chun Keung holds a 75% interest in the company, with 562,500,000 shares as of September 30, 2023[92]. - The average number of shares remained constant at 750,000,000 for both periods ended September 30, 2023, and 2022[11]. - The company has not engaged in any share purchases, sales, or redemptions during the six months ended September 30, 2023[86].
创辉珠宝(08537) - 2024 - 中期财报