Financial Performance - For the six months ended September 30, 2023, the revenue was HK$517,740,000, a decrease of 34.5% compared to HK$791,116,000 for the same period in 2022[14] - The gross profit for the same period was HK$94,493,000, down 28.5% from HK$131,992,000 in 2022[14] - The operating loss increased to HK$58,753,000, compared to an operating loss of HK$40,041,000 in the previous year, reflecting a 46.5% increase in losses[14] - Loss before income tax was HK$54,401,000, compared to HK$40,522,000 in the prior year, indicating a 34.3% increase in losses[14] - The loss for the period was HK$44,573,000, which is a 13.9% increase from HK$39,242,000 in the same period last year[14] - Basic loss per share attributable to ordinary shareholders was HK(9.8) cents, compared to HK(9.2) cents in the previous year[14] - The company reported a total comprehensive loss of HK$64,099,000 for the period, compared to a loss of HK$39,242,000 in the previous year[23] - The company recorded an unaudited net loss of approximately HK$44,573,000, an increase from approximately HK$39,242,000 in the same period last year, with a basic loss per share of approximately HK$0.098, up from approximately HK$0.092[154] Revenue Breakdown - For the six months ended September 30, 2023, total revenue from contracts with customers was HK$504,279,000, a decrease of 34.2% compared to HK$766,534,000 in the same period of 2022[36] - Sales of goods contributed HK$477,289,000 to the total revenue, down from HK$726,276,000, representing a decline of 34.2%[36] - The PRC, including Hong Kong, accounted for HK$481,374,000 of total revenue, down from HK$751,817,000, highlighting a significant market contraction[36] - The Hi-Tech Distribution and Services Division's revenue was approximately HK$445,839,000, representing a decrease of 39.5% from approximately HK$736,875,000 in the corresponding period last year, primarily due to sluggish demand in the global mobile phone market[158] - The leasing division generated unaudited revenue of approximately HK$68,086,000, an increase of 25.5% compared to approximately HK$54,241,000 in the same period last year, driven by machine sales revenue of approximately HK$54,625,000, which increased by 84.2%[165] - The Electronic Payment Solution Division recorded unaudited revenue of approximately HK$3,815,000 and an unaudited net loss of approximately HK$71,000 for the Interim Period[179] Expenses and Costs - Selling and distribution expenses increased to HK$75,093,000, compared to HK$66,711,000 in the same period last year, reflecting a 12.5% increase[14] - Total operating expenses for the Interim Period were approximately HK$162,220,000, a decrease of 10.0% from HK$180,173,000 in the corresponding period last year[151] - The reduction in operating expenses was mainly due to a decrease in net exchange loss from HK$25,498,000 to HK$8,944,000[151] - The Group's total operating expenses (excluding exchange loss) to revenue ratio increased to 29.6% from 19.6% in the corresponding period last year[151] Assets and Liabilities - Total assets increased to HK$2,116,325,000 as of September 30, 2023, up from HK$2,080,621,000 as of March 31, 2023, representing a growth of 1.7%[19] - Current assets rose to HK$1,303,924,000, compared to HK$1,288,803,000 in the previous period, reflecting an increase of 1.2%[19] - Total equity attributable to shareholders decreased to HK$1,372,102,000 from HK$1,435,336,000, a decline of 4.4%[19] - Trade and other payables increased to HK$659,532,000 from HK$553,634,000, reflecting a rise of 19.1%[21] - The company reported a total of HK$790,221,000 in capital assets as of September 30, 2023, compared to HK$775,176,000 as of April 1, 2022, showing a slight increase[89] Cash Flow - Net cash flows from operating activities for the six months ended September 30, 2023, were HK$75,114,000, up from HK$48,232,000 in the same period last year, an increase of 55.8%[25] - Cash and cash equivalents improved to HK$463,292,000 from HK$425,154,000, marking an increase of 8.1%[19] - The company reported an increase in cash and cash equivalents of HK$51,421,000 for the six months, compared to a decrease of HK$17,696,000 in the same period last year[36] - Net cash flows used in financing activities decreased to HK$12,169,000 from HK$16,453,000, reflecting improved cash management[36] Market Conditions and Future Outlook - The World Bank projected global economic growth to slow from 3.1% in 2022 to 2.1% in 2023, with China's GDP growth expected to rebound to 5.6%[185] - China's GDP growth for Q3 2023 was up 4.9% year-on-year, while the first three quarters of 2023 saw a 5.2% increase year-on-year, indicating a loss of momentum[185] - IDC predicted a 1.1% decline in worldwide smartphone shipments to 1.19 billion units in 2023, with a 0.1% year-on-year decline in Q3 2023 shipments[186] - The smartphone shipments in China declined by 6.3% year-on-year in Q3 2023, worsening from a 2.1% decline in Q2 2023, attributed to rising youth unemployment and ongoing economic challenges[186] - The Group is diversifying and expanding operations in Thailand and Vietnam to mitigate geopolitical risks and serve customers better[180] - The Group is optimistic about the future of Hong Kong and its role in the Greater Bay Area initiative, aiming to enhance operational efficiency and profitability[190] Shareholder Information - The total issued share capital remained at HK$45,450,000 as of September 30, 2023, unchanged from March 31, 2023[109] - No interim dividend was recommended for the six months ended September 30, 2023, consistent with the previous year where no dividend was paid[86] - The weighted average number of ordinary shares in issue for the six months ended September 30, 2023, was 454,509,311, an increase from 425,125,311 in the same period of the previous year[84]
北亚策略(08080) - 2024 - 中期财报