Financial Performance - The group's revenue decreased from approximately HK$89,600,000 for the six months ended September 30, 2022, to approximately HK$77,500,000 for the six months ended September 30, 2023, representing a decline of about 13.5%[6]. - Gross profit for the six months ended September 30, 2023, was approximately HK$49,300,000, down approximately 14.3% from HK$57,600,000 for the same period in 2022[6]. - The profit attributable to owners of the company remained stable at approximately HK$10,600,000 for the six months ended September 30, 2023, unchanged from the same period in 2022[6]. - The company reported a net profit before tax of approximately HK$12,769,000 for the six months ended September 30, 2023, compared to HK$13,894,000 for the same period in 2022[7]. - Total comprehensive income for the period was approximately HK$10,614,000 for the six months ended September 30, 2023, compared to HK$10,631,000 for the same period in 2022[7]. - For the six months ended September 30, 2023, total revenue was HKD 77,452,000, a decrease of 13.5% compared to HKD 89,583,000 for the same period in 2022[19]. - Retail store sales for the six months ended September 30, 2023, were HKD 60,679,000, down 13.8% from HKD 70,409,000 in the previous year[19]. - Online store sales decreased slightly to HKD 13,375,000, a decline of 8.0% from HKD 14,540,000 in the same period last year[19]. - The segment profit for the six months ended September 30, 2023, was HKD 10,614,000, slightly down from HKD 10,631,000 in the previous year[23]. Dividends - The board declared an interim dividend of HK$0.8 per share for the six months ended September 30, 2023, totaling approximately HK$9,000,000, compared to HK$0.6 per share and approximately HK$6,700,000 in 2022[5]. - The company declared an interim dividend of HKD 0.8 per share, totaling approximately HKD 9,000,000, compared to HKD 1.3 per share and HKD 14,600,000 in the same period last year[30]. - The company’s board proposed a final dividend of HKD 0.8 per share for the year ended March 31, 2023, totaling approximately HKD 9,000,000, an increase from HKD 0.6 per share and HKD 6,700,000 in 2022[68]. - The interim dividend record date is December 1, 2023, with the payment date set for December 29, 2023[87]. Expenses and Costs - The company's sales and distribution expenses were approximately HK$18,742,000 for the six months ended September 30, 2023, slightly increased from HK$18,587,000 in 2022[7]. - Administrative and operating expenses decreased to approximately HK$17,921,000 for the six months ended September 30, 2023, from HK$19,268,000 in 2022[7]. - Employee costs, including director remuneration, amounted to approximately HKD 17,500,000 for the six months ended September 30, 2023, down from HKD 18,500,000 for the same period in 2022[70]. - The total employee benefit expenses for the three months ended September 30, 2023, were HKD 8,922,000, down from HKD 10,808,000 in the previous year[27]. - The total expenditure on property, plant, and equipment for the six months ended September 30, 2023, was approximately HKD 422,000, compared to HKD 970,000 for the same period in 2022[33]. Cash Flow and Assets - The net cash generated from operating activities for the six months ended September 30, 2023, was HKD 9,596,000, down 46.6% from HKD 17,935,000 in 2022[12]. - The company’s cash and cash equivalents decreased to HKD 44,898,000 from HKD 62,822,000, representing a decline of 28.6%[12]. - The company reported a total equity of HKD 146,571,000 as of September 30, 2023, an increase of 1.1% from HKD 144,917,000 at the end of March 2023[10]. - The company’s total non-current assets amounted to HKD 80,956,000, a slight decrease from HKD 81,666,000 as of March 31, 2023[9]. - The total non-current assets as of September 30, 2023, were HKD 77,622,000, a slight decrease from HKD 78,904,000 as of March 31, 2023[26]. - As of September 30, 2023, trade receivables amounted to HKD 1,436,000, a decrease from HKD 1,645,000 as of March 31, 2023[37]. - Trade payables increased to HKD 2,307,000 from HKD 1,264,000, reflecting a rise of 82.5%[12]. - The Group's trade payables as of September 30, 2023, were HKD 2,307,000, an increase from HKD 1,264,000 as of March 31, 2023[40]. Shareholder Information - Major shareholders include Prime Era Holdings with 542,000,000 shares (48.39%) and Ms. Xing Jiajue with 244,530,000 shares (21.83%) as of September 30, 2023[77]. - The issued share capital of the company is HKD 11.2 million, with 1,120 million shares outstanding[62]. Corporate Governance - The company has complied with the corporate governance code, except for a deviation regarding the separation of roles between the chairman and CEO, which the board believes is in the best interest of the group[84]. - The company has established a remuneration committee to review its compensation policies and ensure they are competitive and aligned with performance[69]. - The company has not granted any share options under its share option scheme as of the date of this interim report[70]. - The company has established a stock option plan approved by its sole shareholder on January 23, 2018, but no stock options have been granted since the adoption date[80]. - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the six months ended September 30, 2023[85]. Market and Operational Insights - The Group operates nine retail stores under the "MI MING MART" brand, focusing on beauty and health products[46]. - The Group's online sales are conducted through its website and other e-commerce platforms, in addition to retail store sales[46]. - The Group's focus is on providing products that do not harm customer health, emphasizing ingredient safety and health improvement[46]. - The group faced foreign exchange risks primarily related to bank deposits denominated in USD, AUD, and NZD, with no current foreign currency hedging policy in place[60]. - The group has no significant investments as of September 30, 2023[61].
弥明生活百货(08473) - 2024 - 中期财报