Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 130,783,000, representing a 113.4% increase compared to HKD 61,292,000 in the same period of 2022[4] - Gross profit for the same period was HKD 113,675,000, up from HKD 51,117,000, indicating a significant improvement in profitability[4] - The company reported a profit before tax of HKD 19,258,000, compared to a loss of HKD 433,000 in the previous year[4] - Net profit for the period was HKD 15,173,000, a turnaround from a loss of HKD 365,000 in the prior year[4] - Basic earnings per share for the period was HKD 1.99, compared to a loss per share of HKD 0.05 in the same period last year[6] - The group reported a profit attributable to owners of the company of HKD 15,173,000 for the six months ended September 30, 2023, compared to a loss of HKD 365,000 in the same period of 2022[49] - The group recorded a profit of HKD 15,173,000 for the period, a significant turnaround from a loss of HKD 365,000 in the previous year[65] Revenue Breakdown - Revenue from health supplement products reached HKD 125,092,000, a substantial increase of 111% from HKD 59,267,000 in the previous year[28] - Revenue from health supplement products rose by 111.1% to HKD 125,092,000, while personal care products increased by 307.5% to HKD 5,167,000; however, honey and pollen products decreased by 30.8% to HKD 524,000[70] - Sales from specialty stores increased by 11.4% to HKD 22,273,000, and revenue from consignment counters surged by 208.1% to HKD 94,952,000; e-commerce revenue slightly decreased by 2.5% to HKD 7,758,000[73] Assets and Liabilities - Total assets as of September 30, 2023, were HKD 172,160,000, an increase from HKD 163,274,000 as of March 31, 2023[8] - Current assets increased to HKD 119,400,000 from HKD 96,007,000, reflecting improved liquidity[8] - The total equity increased to HKD 162,796,000 from HKD 156,060,000, showing growth in shareholder value[10] - Accounts receivable increased to HKD 24,281,000 as of September 30, 2023, from HKD 16,772,000 as of March 31, 2023[53] - The group’s accounts payable rose to HKD 15,460,000 as of September 30, 2023, compared to HKD 12,202,000 as of March 31, 2023[56] - The total outstanding bank borrowings amounted to HKD 2,694,000 as of September 30, 2023, down from HKD 2,898,000 as of March 31, 2023[82] - The debt-to-equity ratio was 1.7% as of September 30, 2023, indicating a reasonable level of capital leverage[82] Cash Flow - Cash generated from operating activities was HKD 20,106,000, a recovery from a cash outflow of HKD 1,640,000 in the same period last year[17] - The company’s cash and cash equivalents rose to HKD 48,547,000 from HKD 41,044,000, indicating a stronger cash position[8] - The company’s cash and cash equivalents increased to HKD 48,547,000 from HKD 38,794,000 year-over-year, reflecting a positive cash flow trend[19] - The group incurred a net loss of HKD 1,651,000 from other losses for the six months ended September 30, 2023, compared to a loss of HKD 1,226,000 in 2022[38] - The company reported a net cash outflow from investing activities of HKD 5,602,000, compared to HKD 8,043,000 in the previous year, suggesting a reduction in capital expenditures[17] - The company’s financing activities resulted in a net cash outflow of HKD 6,747,000, slightly improved from HKD 7,305,000 in the previous year, indicating better management of financing costs[19] Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new product development to sustain growth[4] - The company plans to continue expanding its product offerings in health and personal care, focusing on brand development and distribution[21] - The group plans to continue carefully selecting suitable locations for specialty stores and other sales channels to enhance brand visibility among target customers[65] - The company aims to diversify its product portfolio and optimize pricing strategies to enhance operational performance[91] - The group plans to expand its online and offline sales network to capture market share in a high financing cost environment[91] Operational Highlights - The company experienced a significant increase in sales through consignment counters, which rose to HKD 94,952,000 from HKD 30,823,000, highlighting a successful sales strategy[28] - The number of stores increased to 18 and consignment counters to 60 as of September 30, 2023, compared to 17 stores and 60 counters as of March 31, 2023[65] - The employee count increased to 201 as of September 30, 2023, up from 189 on March 31, 2023[88] Governance and Compliance - The company has adhered to the corporate governance code, with a noted exception regarding the dual role of the chairman and CEO[105] - The audit committee has reviewed and supervised the group's financial reporting system and internal control procedures during the reporting period[109] - The company has adopted a standard code for directors' securities trading, with all directors confirming compliance throughout the reporting period[107] - The company plans to appoint new independent non-executive directors within three months to comply with listing rules following the recent vacancy[106] Dividends and Shareholder Information - The group did not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[47] - The company expressed gratitude to shareholders, business partners, and employees for their ongoing support and contributions[111] - As of September 30, 2023, Beatitudes International Ltd. held approximately 55.82% of the company's shares[96] Economic Environment - The group experienced a significant rebound in business performance due to the return of mainland Chinese tourists, despite facing economic uncertainties in Hong Kong[91] - The overall retail sales in Hong Kong increased by 16.0% from April to September 2023 compared to the same period last year, driven by the recovery of tourism[64] - The number of visitors to Hong Kong surged to approximately 18,907,000 from about 238,000 in the same period last year, significantly boosting retail activity[64]
澳至尊(02031) - 2024 - 中期财报