Financial Performance - For the six months ended September 30, 2023, the company reported revenue of HKD 19,268,000, a decrease of 10.8% compared to HKD 21,605,000 for the same period in 2022[8]. - The gross profit for the same period was HKD 13,437,000, down 7.8% from HKD 14,578,000 year-on-year[8]. - The company recorded a loss attributable to owners of HKD 12,357,000 for the six months ended September 30, 2023, compared to a loss of HKD 10,209,000 in the previous year, representing a 21.0% increase in losses[8]. - Basic loss per share for the six months was HKD 1.22, compared to HKD 1.48 for the same period in 2022, indicating a reduction in loss per share[8]. - The loss before tax for the six months ended September 30, 2023, was HKD 12,246,000, compared to a loss of HKD 10,209,000 for the same period in 2022, indicating a worsening of 19.9%[24]. - The company reported a net loss of HKD 12,618,000 for the six months ended September 30, 2023, compared to a net loss of HKD 11,123,000 for the same period in 2022[16]. - Revenue from women's lingerie products for the six months ended September 30, 2023, was HKD 18,059,000, a decrease of 15.5% from HKD 21,312,000 in the same period of 2022[24]. - Total revenue decreased from approximately HKD 21.6 million in the six months ended September 30, 2022, to approximately HKD 19.3 million in the same period of 2023, a decline of about 10.6%[54]. - Sales of women's lingerie products amounted to approximately HKD 17.6 million, a decrease of approximately 17.7% compared to the same period in 2022[54]. - Gross profit decreased by approximately 8.2% from about HKD 14.6 million in the six months ended September 30, 2022, to approximately HKD 13.4 million in the same period of 2023[55]. Assets and Liabilities - As of September 30, 2023, total assets were HKD 52,779,000, down from HKD 62,997,000 as of March 31, 2023[9]. - The company's cash and bank balances decreased significantly to HKD 10,631,000 from HKD 25,556,000 in the previous period[9]. - Non-current assets decreased to HKD 22,731,000 from HKD 30,398,000, reflecting a decline in property, plant, and equipment[9]. - Current liabilities totaled HKD 72,367,000, slightly down from HKD 74,168,000, indicating a stable liability position[10]. - Current liabilities net value increased to approximately HKD 19.6 million as of September 30, 2023, from approximately HKD 11.2 million as of March 31, 2023[59]. - The company's debt-to-equity ratio was zero as of September 30, 2023, compared to 70% as of March 31, 2023[61]. Cash Flow - Cash used in operating activities for the six months ended September 30, 2023, was HKD 7,505,000, an improvement from HKD 18,028,000 in the same period of 2022[14]. - Cash and cash equivalents at the end of the period were HKD 10,631,000, down from HKD 19,729,000 at the end of September 30, 2022[14]. - Cash and cash equivalents decreased to approximately HKD 10.6 million as of September 30, 2023, from approximately HKD 25.6 million as of March 31, 2023[59]. Expenditures and Investments - The company incurred a total expenditure of HKD 25,683,000 in unallocated income and expenses for the six months ended September 30, 2023[24]. - The company invested HKD 89,000 in property, plant, and equipment during the six months ended September 30, 2023[27]. - The company purchased property, plant, and equipment amounting to approximately HKD 89,000, significantly lower than HKD 1,847,000 in the previous year[41]. - The depreciation of property, plant, and equipment for the six months ended September 30, 2023, was HKD 732,000[27]. Future Strategies and Market Focus - The company is focusing on expanding its market presence and developing new technologies to enhance its product offerings in the future[8]. - Future strategies include enhancing operational efficiency and diversifying revenue sources, including entering the health industry[52]. Corporate Governance and Compliance - The company has established an audit committee to oversee financial reporting processes and internal controls, consisting of independent non-executive directors[88]. - The company has complied with the GEM Listing Rules and corporate governance codes, with no reported breaches as of September 30, 2023[84]. - The company has not identified any conflicts of interest among directors or major shareholders as of September 30, 2023[83]. - The company's financial information for the six months ended September 30, 2023, has been reviewed by the audit committee and complies with applicable accounting standards[89]. Shareholder Actions and Capital Raising - The group completed a rights issue on August 19, 2022, raising a total of HKD 27.0 million, with a net amount of approximately HKD 26.0 million allocated for business expansion and general working capital[72][73]. - The group completed a placement on March 20, 2023, raising approximately HKD 16.5 million, with a net amount of HKD 16.2 million intended for business expansion and general working capital[76][77]. - The company plans to raise up to HKD 40.0 million through the placement of up to 200,000,000 shares at HKD 0.20 per share, with net proceeds estimated at approximately HKD 39.7 million[92]. - The intended use of the net proceeds includes HKD 15.9 million for health business development, HKD 11.9 million for the lingerie product division, and HKD 11.9 million for general working capital[92]. Employee and Management Changes - As of September 30, 2023, the group had 67 full-time employees, a decrease from 114 on March 31, 2023[65]. - The group has appointed a new CEO, Ms. Chan Li-Chu, effective July 31, 2023[78].
海纳星空科技(08297) - 2024 - 中期财报