Financial Performance - For the six months ended September 30, 2023, the company reported revenue of HKD 125,661,000, a decrease of 44.5% compared to HKD 226,357,000 for the same period in 2022[7] - Gross profit for the same period was HKD 45,556,000, down 30.8% from HKD 65,810,000 year-over-year[7] - Operating profit decreased to HKD 19,311,000, a decline of 61.0% from HKD 49,515,000 in the previous year[7] - The company recorded a net profit of HKD 18,263,000, which is a 55.0% decrease compared to HKD 40,679,000 for the same period last year[7] - Basic and diluted earnings per share were HKD 1.4, down from HKD 3.2 in the previous year, reflecting a 56.3% decline[7] - The total comprehensive income for the six months ended September 30, 2023, was HKD 13,783,000, down from HKD 30,299,000, marking a decline of 54.5%[12] - For the six months ended September 30, 2023, the group recorded a profit of approximately HKD 18.3 million, a decrease of about 55.0% compared to HKD 40.7 million in the same period last year[43] - Net profit attributable to equity holders decreased by approximately HKD 22.4 million (about 55.0%) from approximately HKD 40.7 million in the first half of 2023 to approximately HKD 18.3 million in the first half of 2024, with net profit margin declining from 18.0% to 14.6%[52] Assets and Liabilities - Total assets as of September 30, 2023, amounted to HKD 458,107,000, slightly up from HKD 456,779,000 as of March 31, 2023[10] - The company's total liabilities increased to HKD 67,094,000 from HKD 51,415,000, representing a 30.5% rise[10] - Cash and cash equivalents at the end of the period were HKD 237,538,000, slightly down from HKD 234,168,000 at the end of the previous year[13] - The company had no bank borrowings as of September 30, 2023, and maintained an asset-liability ratio of zero[56] Revenue Breakdown - Revenue from personal care appliances for the six months ended September 30, 2023, was HKD 123,266,000, a significant drop of 44.7% compared to HKD 222,835,000 in the same period last year[23] - Revenue from Japan decreased to HKD 77,891 thousand from HKD 131,270 thousand, representing a decline of approximately 40.5% year-on-year[25] - Revenue from the United States dropped to HKD 32,617 thousand from HKD 78,222 thousand, a decrease of about 58.3% year-on-year[25] Cash Flow and Investments - Operating cash flow for the six months ended September 30, 2023, was HKD 26,717,000, down from HKD 87,929,000 in the previous year, indicating a decrease of 69.6%[13] - The company reported a net cash outflow from investing activities of HKD 6,000,000, compared to HKD 5,890,000 in the previous year, indicating a slight increase in cash used for investments[13] Dividends and Shareholder Returns - The company paid dividends totaling HKD 29,407,000 during the period, an increase from HKD 19,178,000 in the previous year, reflecting a rise of 53.5%[13] - The company did not declare any interim dividend for the six months ended September 30, 2023, consistent with the previous year[35] Strategic Focus and Future Plans - The company plans to focus on research and development to enhance product offerings and market expansion strategies moving forward[6] - The company continues to develop new personal care and lifestyle products under its own brand (OBM) to capture potential retail market opportunities[42] - The company aims to offset the decline in sales demand by creating and promoting high-value new products and seeking new business opportunities with clients[43] - The company plans to continue enhancing product competitiveness and R&D capabilities to increase market share and establish long-term relationships with customers amid global economic uncertainties[44] - The company will maintain strict cost control and operational efficiency to mitigate potential impacts from geopolitical instability and economic uncertainty[44] Corporate Governance and Compliance - The company has maintained compliance with all provisions of the corporate governance code during the reporting period, except for the separation of the roles of Chairman and CEO, which are held by Mr. Li Shuye[75] - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited interim financial information and found it to comply with applicable accounting standards and listing rules[85] - The company confirms that its public float has been maintained in accordance with listing rules throughout the reporting period[83] - The company emphasizes that forward-looking statements in the report cannot be guaranteed to be achieved or accurate, advising caution for shareholders and potential investors[84] Utilization of Proceeds - The net proceeds from the global offering amount to approximately HKD 66.2 million, with actual utilization during the reporting period being HKD 43.3 million[67] - 54.5% of the proceeds (HKD 36.1 million) are allocated for expanding and upgrading production facilities, with HKD 21.4 million already utilized[67] - 24.8% of the proceeds (HKD 16.4 million) are designated for enhancing research and engineering capabilities, with HKD 15.7 million utilized[67] - 12.9% of the proceeds (HKD 8.5 million) are intended for introducing new products under the company's brand, with only HKD 2.0 million utilized[67] - 3.5% of the proceeds (HKD 2.3 million) are aimed at strengthening sales and marketing efforts in global markets, with HKD 1.5 million utilized[67] - 4.3% of the proceeds (HKD 2.9 million) are allocated for upgrading IT systems and design software, with HKD 2.7 million utilized[67] - As of September 30, 2023, the unutilized net proceeds are stored in licensed banks in Hong Kong, amounting to HKD 40.1 million[68] - The company plans to utilize the remaining proceeds by June 2024, subject to market conditions[68] Employee Costs - The total employee cost during the reporting period was approximately HKD 27.0 million, down from approximately HKD 38.3 million in the first half of 2023[63] Shareholder Information - The major shareholder, Ace Champion, holds 468,750,000 shares, representing approximately 36.7% of the issued share capital[73] - The company maintains a cautious strategy regarding the utilization of proceeds to remain flexible in response to changing market conditions[68] - The company expresses gratitude to shareholders, investors, employees, and business partners for their ongoing support[86]
科利实业控股(01455) - 2024 - 中期财报