Revenue Performance - The company's revenue for the six months ended September 30, 2023, decreased by 6.3% to HKD 211,343,000 compared to HKD 225,588,000 in the same period last year[12]. - Service revenue from beauty and facial care decreased by 6.5% to HKD 144,447,000, while body slimming service revenue decreased by 8.0% to HKD 42,846,000[13]. - Revenue from prepaid beauty packages increased by 15.6% to HKD 198,398,000, while service revenue in Hong Kong was HKD 171,582,000, a decrease of 8.7%[8]. - In mainland China, service revenue decreased by 40.6% to HKD 2,669,000, while revenue from prepaid beauty packages increased by 9.7% to HKD 3,153,000[9]. - Total revenue for the six months ended September 30, 2023, was HKD 211,343,000, a decline of 6.3% compared to HKD 225,588,000 in 2022[84]. - Revenue from beauty and wellness services decreased to HKD 194,885,000 for the six months ended September 30, 2023, down 7.0% from HKD 210,394,000 in the same period of 2022[84]. - Total revenue from prepaid beauty package sales amounted to HKD 222,378,000 for the period, while revenue recognized from beauty and wellness services was HKD (194,885,000)[103]. Financial Performance - The company reported a net loss of approximately HKD 28,569,000 for the six months ending September 30, 2023, compared to a net profit of HKD 40,960,000 in the same period last year, resulting in a loss per share of HKD 3.18 versus a profit per share of HKD 4.49[21]. - The company reported a loss of HKD 28,569,000 for the period, compared to a profit of HKD 40,960,000 in the previous year, indicating a significant decline in performance[59]. - Basic and diluted loss per share for the period was HKD 3.18, down from earnings of HKD 4.49 per share in the same period last year[59]. - Operating loss for the period was HKD 29,632,000, compared to an operating profit of HKD 49,167,000 in the previous year, reflecting operational challenges[59]. - The company reported a pre-tax loss of HKD 28,802,000 for the six months ended September 30, 2023, compared to a profit of HKD 40,655,000 in the same period of 2022[90]. - Total comprehensive income for the period was HKD (30,075,000), down from HKD 38,864,000 year-over-year[60]. - The company incurred financial expenses of HKD 3,023,000, compared to HKD 905,000 in the previous year, indicating increased financial costs[59]. Expenses and Liabilities - Employee benefits expenses increased by approximately 27.0% to HKD 154,926,000, with a total of 888 employees as of September 30, 2023, up 0.5% from 884 employees last year[15]. - Depreciation expenses for other leased properties were approximately HKD 33,107,000, accounting for about 15.7% of revenue[17]. - Current liabilities rose to HKD 393,774,000, compared to HKD 342,502,000 at the end of March 2023, indicating an increase of about 15%[62]. - Total liabilities increased to HKD 456,928,000 as of September 30, 2023, from HKD 357,469,000 as of March 31, 2023, reflecting a rise of 28.0%[82]. - Rental liabilities increased significantly to HKD 62,548,000 from HKD 14,333,000, indicating a rise of approximately 337%[64]. Assets and Equity - As of September 30, 2023, the total equity was HKD 173,805,000, with cash and bank balances amounting to HKD 204,664,000, an increase from HKD 177,530,000 as of March 31, 2023, with no bank borrowings[23]. - Non-current assets increased to HKD 263,672,000 as of September 30, 2023, from HKD 179,462,000 as of March 31, 2023, reflecting a growth of approximately 46.8%[62]. - Total assets as of September 30, 2023, amounted to HKD 583.57 million, an increase from HKD 512.82 million as of March 31, 2023[80]. - The company’s equity attributable to shareholders decreased to HKD 169,462,000 from HKD 199,770,000, a decline of about 15.2%[64]. Corporate Governance and Management - The company adheres to good corporate governance principles, emphasizing transparency, accountability, and independence[45]. - The company has established various committees, including the Audit Committee, which is composed entirely of independent non-executive directors to enhance governance[49]. - The company aims to attract and retain key executives through competitive compensation policies linked to performance targets[51]. - Management compensation totaled HKD 10,007,000 for the six months ended September 30, 2023, compared to HKD 6,565,000 for the same period in 2022, an increase of approximately 52.5%[110]. Investments and Acquisitions - The company’s wholly-owned subsidiary, Huitai Fund Management Limited, received a license from the SFC in March 2023, with expected revenue generation from fund management services starting in Q1 2024[32]. - In November 2023, the company acquired 100% of Singapore Spa Institute Pte. Ltd., enhancing its training and consulting capabilities in the spa industry[33]. - Related party transactions included HKD 90,899,000 for the acquisition of right-of-use assets during the reporting period[111]. Other Financial Information - Other income decreased significantly to HKD 3,424,000 from HKD 31,617,000, a decline of approximately 89%[59]. - Other income for the six months ended September 30, 2023, was HKD 3.42 million, down from HKD 8.44 million in the previous year[81]. - The company reported a foreign exchange loss of HKD (1,161,000) during the period, compared to a loss of HKD (54,000) in the previous period[103]. - The company expects to adopt new accounting guidelines regarding the mandatory provident fund by March 31, 2024, which may impact financial reporting[77]. - The company continues to assess the impact of new accounting policies on its financial statements, with no reasonable estimate available at this time[77].
现代健康科技(00919) - 2024 - 中期财报