Financial Performance - For the three months ended September 30, 2023, the company reported revenue of HKD 22,914,000, representing a 30.7% increase from HKD 17,534,000 in the same period of 2022[11] - For the six months ended September 30, 2023, the company achieved revenue of HKD 50,576,000, up 54.2% from HKD 32,817,000 in the prior year[11] - The company recorded a loss before tax of HKD 5,539,000 for the three months ended September 30, 2023, an improvement from a loss of HKD 7,660,000 in the same period of 2022[11] - The loss for the six months ended September 30, 2023, was HKD 8,962,000, compared to a loss of HKD 17,161,000 in the previous year, indicating a significant reduction in losses[11] - Basic loss per share for the three months ended September 30, 2023, was HKD 0.58, compared to HKD 0.80 for the same period in 2022[13] - The overall comprehensive loss for the six months ended September 30, 2023, was HKD 8,962,000, a decrease from HKD 17,283,000 in the same period of 2022[13] - The company reported a net loss of HKD 8,962,000 for the six months ended September 30, 2023, compared to a loss of HKD 17,161,000 in the previous period, indicating an improvement of about 47.8%[18] - For the six months ended September 30, 2023, the total revenue of the company was approximately HKD 50.6 million, representing a 54.3% increase compared to HKD 32.8 million for the same period last year[74] Costs and Expenses - The company incurred material costs of HKD 7,338,000 for the three months ended September 30, 2023, which is an increase from HKD 6,848,000 in the same period of 2022[11] - Employee costs for the three months ended September 30, 2023, were HKD 8,821,000, up from HKD 7,882,000 in the previous year[11] - Employee costs, including director remuneration, increased to HKD 17,432,000 for the six months ended September 30, 2023, from HKD 13,932,000 in the same period of 2022, marking a 25.5% rise[45] - The company incurred financing costs of HKD 575,000 for the six months ended September 30, 2023, up from HKD 411,000 in the same period of 2022, representing a 39.9% increase[44] - Total other income for the six months ended September 30, 2023, was HKD 35,000, a significant decrease of 90.4% from HKD 363,000 in the same period of 2022[5] Assets and Liabilities - As of September 30, 2023, the company's non-current assets totaled HKD 51,738,000, a decrease from HKD 53,066,000 as of March 31, 2023, representing a decline of approximately 2.5%[15] - The company's current liabilities increased to HKD 57,505,000 from HKD 54,206,000, marking an increase of about 6.7%[16] - The total assets as of September 30, 2023, amounted to HKD 79,294,000, with total liabilities of HKD 72,830,000[37] - The total equity attributable to the owners of the company decreased to HKD 6,497,000 from HKD 15,459,000, a decline of approximately 58.0%[16] - The company's cash and cash equivalents decreased to HKD 9,754,000 from HKD 15,526,000, a reduction of about 37.9%[20] - The company's current liabilities net amount was HKD (29,949,000) as of September 30, 2023, compared to HKD (22,045,000) as of March 31, 2023, indicating a worsening of liquidity position[24] - The company’s total liabilities increased to HKD 72,830,000 from HKD 70,801,000, representing an increase of about 2.9%[16] - The current ratio decreased to 0.5 times, down from 1.5 times as of March 31, 2023, indicating a decline in liquidity[86] - The debt-to-equity ratio increased to 90.0% as of September 30, 2023, compared to 29.7% as of March 31, 2023, reflecting a significant rise in leverage[86] Revenue Segmentation - The segment revenue breakdown includes Chinese cuisine at HKD 10,667,000, Thai cuisine at HKD 6,957,000, Malaysian cuisine at HKD 11,797,000, and food ingredient sales at HKD 786,000[33] - The segment loss for Chinese cuisine was HKD 2,467,000, Thai cuisine was HKD 451,000, and Malaysian cuisine was HKD 1,255,000[33] - The "Masaun Le/Masan Le" brand generated revenue of approximately HKD 10.7 million, accounting for 21.2% of total revenue, remaining stable compared to the previous year[68] - The "Thai Lane" brand recorded revenue of approximately HKD 7.0 million, which is a slight decrease of 9.1% compared to the same period last year[70] - The "Baba Nyonya" brand achieved revenue of approximately HKD 11.8 million, representing a slight decrease of 5.4% year-on-year[70] - The "Sales of Ingredients" segment reported revenue of approximately HKD 0.8 million, a significant decrease of 72.4% compared to the previous year due to a steady decline in sales volume[70] - The aircraft engine maintenance and repair services segment generated revenue of approximately HKD 20.3 million, accounting for 40.1% of total revenue[70] Operational Developments - The company plans to continue expanding its market presence and developing new products and technologies to drive future growth[11] - The company plans to expand its food packaging and takeaway product lines to enhance sales and marketing efforts[66] - The company completed the acquisition of an engineering company providing aircraft engine maintenance services in early 2023[67] - The company anticipates stable and increasing positions in aircraft engine maintenance due to improved construction industry conditions and increased air travel[67] - The company is implementing cost-saving measures, including reducing restaurant staff usage and negotiating rent discounts[66] Governance and Compliance - The company has not applied any new accounting standards that have been issued but not yet effective, and is currently assessing their potential impact[29] - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance with all applicable provisions as of September 30, 2023[111] - The audit committee, established on January 29, 2018, is responsible for reviewing the financial reporting principles and internal control systems of the group[113] - The interim financial statements have been reviewed by the audit committee, which confirmed their compliance with applicable accounting standards and GEM Listing Rules[114] Workforce and Shareholder Information - The workforce increased to 106 full-time employees and 58 part-time employees as of September 30, 2023, compared to 98 full-time and 51 part-time employees as of March 31, 2023[96] - Major shareholders Smarty Task Limited and Smarty Gain Limited each hold approximately 8.29% of the company's shares, totaling 95,419,848 shares[103] - The company has adopted a share option scheme to attract and retain talent, with 80,000,000 options granted but not exercised as of September 30, 2023[109] - There were no significant transactions or contracts involving directors or their associates during the reporting period[106] - The company has maintained good working relationships with its employees, which is considered key to its sustainable development[96]
倩碧控股(08367) - 2024 - 中期财报