Financial Performance - The company recorded revenue of approximately HKD 145,609,000 for the six months ended September 30, 2023, compared to HKD 137,465,000 for the same period in 2022, representing an increase of 5.3%[6] - The loss attributable to owners of the company for the six months ended September 30, 2023, was approximately HKD 380,000, a significant decline from the profit of HKD 3,427,000 for the same period in 2022[6] - The gross profit for the six months ended September 30, 2023, was HKD 32,284,000, down from HKD 34,204,000 in the previous year, indicating a decrease of 5.6%[7] - The group reported total revenue of HKD 145,609,000 for the six months ended September 30, 2023, an increase of 5.8% compared to HKD 137,465,000 for the same period in 2022[21] - For the six months ended September 30, 2023, the loss attributable to shareholders was HKD 380,000, compared to a profit of HKD 3,427,000 in 2022, leading to a basic loss per share of HKD (0.03) compared to a profit of HKD 0.29 in the prior year[31] Dividends and Shareholder Returns - The company did not recommend the payment of any interim dividend for the six months ended September 30, 2023, consistent with the previous year[6] - The group did not declare or recommend any dividends for the six months ended September 30, 2023[30] - The company has not declared or recommended any dividends for the six months ended September 30, 2023[59] Cash Flow and Liquidity - Cash and cash equivalents at the end of the period increased to HKD 36,578,000 from HKD 34,981,000 at the end of March 2023, reflecting a net increase of HKD 1,597,000[13] - The net cash generated from operating activities for the six months ended September 30, 2023, was HKD 5,017,000, compared to HKD 4,203,000 for the same period in 2022, showing an increase of 19.3%[13] - As of September 30, 2023, the group's bank balance and cash amounted to approximately HKD 37,130,000, an increase from HKD 35,533,000 as of March 31, 2023[64] - The current ratio as of September 30, 2023, was approximately 4.4 times, slightly down from 4.5 times as of March 31, 2023[64] Assets and Liabilities - Total assets less current liabilities as of September 30, 2023, were HKD 106,809,000, a decrease from HKD 110,629,000 as of March 31, 2023[9] - The company reported a decrease in inventory to HKD 28,405,000 from HKD 32,112,000, representing a reduction of 11.0%[9] - Trade receivables increased to HKD 42,918,000 as of September 30, 2023, from HKD 39,695,000 as of March 31, 2023, indicating a growth of approximately 5.6%[34] - Trade payables decreased to HKD 10,080,000 as of September 30, 2023, from HKD 11,989,000 as of March 31, 2023, reflecting a decline of approximately 15.9%[37] - The total interest-bearing borrowings as of September 30, 2023, were approximately HKD 16,932,000, a decrease from HKD 19,789,000 as of March 31, 2023[69] - The debt-to-equity ratio as of September 30, 2023, was approximately 17.5%, down from 20.4% as of March 31, 2023[69] Operating Expenses - The sales cost for the same period was approximately HKD 113,325,000, representing an increase of about 9.7% from approximately HKD 103,261,000 in the previous year[49] - The total employee costs, including directors' remuneration, amounted to HKD 14,156,000 for the six months ended September 30, 2023, up from HKD 13,315,000 in 2022[27] - The total compensation for directors and key management personnel for the six months ended September 30, 2023, was HKD 5,825,000, an increase from HKD 5,203,000 in the same period of 2022[42] Market Conditions and Future Outlook - The company has been impacted by COVID-19, with the business environment remaining challenging since the outbreak began in January 2020, affecting revenue streams particularly in the first quarter of 2022[44] - The company remains optimistic about the recovery of the Hong Kong economy in 2023 and 2024 and will closely monitor market conditions for suitable business expansion opportunities[45] - The company plans to invest more resources in sales and marketing activities and actively promote new product development in response to increased market competition[45] - The company aims to expand its operations to become a leading food and beverage distributor in Hong Kong[85] Corporate Governance - The company has maintained high standards of corporate governance, adhering to the principles and code provisions outlined in the GEM Listing Rules[97] - The audit committee has reviewed the unaudited consolidated results for the six months ending September 30, 2023, and found them to comply with applicable accounting standards and GEM Listing Rules[102] - The board of directors consists of three executive directors and three independent non-executive directors, ensuring a balanced governance structure[102] - The company has established an audit committee to monitor financial reporting, internal controls, and risk management systems[100] Compliance and Regulations - The company has adopted a set of securities trading rules for directors, confirming compliance with the standards set forth in GEM Listing Rules from April 1, 2023, to September 30, 2023[92] - There were no known violations of the securities trading standards or insider information policies by directors or employees during the six months ending September 30, 2023[92] - The company has confirmed that there are no competing businesses owned by directors or controlling shareholders as of September 30, 2023[93] - All commitments under the non-competition agreement established on March 27, 2017, have been adhered to by the controlling shareholders during the reporting period[94]
亚洲富思(08413) - 2024 - 中期财报