Financial Performance - For the six months ended September 30, 2023, the company recorded unaudited revenue of approximately HKD 31.55 million, an increase of about 9.01% compared to the same period last year[2]. - The company reported an unaudited profit attributable to owners of approximately HKD 0.65 million for the six months ended September 30, 2023, compared to an unaudited loss of HKD 8.66 million in the same period last year[2]. - Basic and diluted earnings per share for the six months ended September 30, 2023, were approximately HKD 0.10 cents, a significant improvement from a loss of HKD 3.32 cents per share in the previous year[2]. - Total revenue for the six months ended September 30, 2023, was HKD 31,552,000, an increase of 9% compared to HKD 28,944,000 for the same period in 2022[20]. - The total comprehensive loss for the six months ended September 30, 2023, was HKD 163,000, compared to a loss of HKD 8,138,000 in the same period of 2022[11]. - The group reported a net profit attributable to owners of HKD 645,000 for the six months ended September 30, 2023, a significant improvement from a loss of HKD 8,655,000 in the same period of 2022[35]. Revenue Breakdown - Revenue from electronic products sales decreased to HKD 15,573,000, down 4% from HKD 16,218,000 in the previous year[20]. - Revenue from restaurant operations increased significantly to HKD 15,979,000, up 25% from HKD 12,726,000 in the prior year[20]. - Revenue from Hong Kong increased to HKD 17,744,000 in 2023 from HKD 13,491,000 in 2022, representing a growth of 31.7%[27]. - Sales of electronic products for the six-month period were approximately HKD 15.57 million, a decrease of about 3.98% compared to the previous year, primarily due to a reduction in sales of fishing indicators[52]. - Revenue from the food and beverage segment for the six-month period was approximately HKD 15.98 million, an increase of about 25.56% compared to approximately HKD 12.73 million in the same period last year, attributed to improvements in the overall market conditions[54]. Expenses and Costs - The gross profit for the six months ended September 30, 2023, was HKD 8.196 million, compared to HKD 4.034 million for the same period in 2022, reflecting a substantial increase[4]. - The company reported a decrease in selling and distribution expenses to HKD 726 thousand for the six months ended September 30, 2023, compared to HKD 651 thousand in the previous year[4]. - The company’s financial costs decreased significantly to HKD 279 thousand for the six months ended September 30, 2023, from HKD 1.95 million in the same period last year[4]. - The cost of sold inventory for the six months ended September 30, 2023, was HKD 13,007,000, down from HKD 24,824,000 in the same period of 2022[29]. - Administrative and other expenses decreased by approximately 37.01% to about HKD 7.97 million for the six months ended September 30, 2023, compared to approximately HKD 12.65 million for the same period in 2022[56]. Assets and Liabilities - The company's total assets less current liabilities as of September 30, 2023, amounted to HKD 62.903 million, an increase from HKD 56.444 million as of March 31, 2023[8]. - The net asset value of the company as of September 30, 2023, was HKD 59.929 million, up from HKD 52.281 million as of March 31, 2023[9]. - The company’s inventory as of September 30, 2023, was HKD 21.578 million, an increase from HKD 20.830 million as of March 31, 2023[8]. - Trade receivables as of September 30, 2023, totaled HKD 1,701,000, with HKD 1,545,000 (approximately 91%) aged 0 to 30 days[10]. - Trade payables as of September 30, 2023, totaled HKD 2,251,000, with HKD 1,583,000 (approximately 70%) aged within 30 days[39]. Cash Flow - The group experienced a net cash outflow from operating activities of HKD 3,949,000, a decline from a net inflow of HKD 1,533,000 in the same period last year[13]. - The group reported a net cash inflow from financing activities of HKD 5,059,000, compared to HKD 2,043,000 in the previous year[13]. - The group’s cash and cash equivalents at the end of the period were HKD 3,615,000, down from HKD 5,744,000 at the end of the previous year[13]. - Cash and bank balances increased from approximately HKD 2.96 million as of March 31, 2023, to approximately HKD 3.62 million as of September 30, 2023[58]. Corporate Governance - The company has adopted the GEM Listing Rules regarding the standards for directors' securities transactions, with no known violations reported for the six months ended September 30, 2023[86]. - The company has complied with the corporate governance code as per GEM listing rules for the six months ending September 30, 2023[87]. - An audit committee has been established to review and supervise the group's financial reporting procedures and internal controls[90]. - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards and GEM listing rules[90]. Shareholder Information - As of September 30, 2023, major shareholders include Zhou Qilin with 132,433,678 shares (19.87%), Siu Hiu Ki Jamie with 107,169,841 shares (16.08%), and Lissington Limited with 105,047,518 shares (15.76%)[81]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ended September 30, 2023[85]. - The company has two stock option plans, including the Pre-IPO Stock Option Plan adopted on September 27, 2013, granting options to purchase a total of 4,000,000 shares at an exercise price of HKD 3.00[74]. - As of September 30, 2023, a total of 2,280,000 options have not been exercised under the Pre-IPO Stock Option Plan, representing approximately 0.34% of the company's issued share capital[74]. - No stock options were granted, exercised, or expired under the Stock Option Plan for the six months ended September 30, 2023[75].
毅高国际控股(08218) - 2024 - 中期财报