Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 276,401,000, representing a 12.2% increase from HKD 246,388,000 in the same period of 2022[4] - Gross profit increased to HKD 21,271,000, up 48.5% from HKD 14,316,000 year-on-year[4] - The company reported a net loss of HKD 20,831,000 for the period, compared to a loss of HKD 45,480,000 in the previous year, indicating a 54.1% improvement[4] - Total comprehensive expenses for the period amounted to HKD 40,479,000, down from HKD 85,200,000 in the same period last year[6] - Basic loss per share improved to HKD 6.25 cents from HKD 13.65 cents year-on-year[6] - For the six months ended September 30, 2023, the company reported a pre-tax loss of HKD 19,477,000, a significant improvement from a loss of HKD 43,625,000 in the same period last year, representing a reduction of approximately 55.3%[11] - The company reported segment losses of HKD 15,860,000 for the six months ended September 30, 2023, compared to HKD 19,043,000 in the same period last year, indicating an improvement in operational efficiency[18] - Total other income for the six months ended September 30, 2023, was HKD 20,477,000, an increase of 22% compared to HKD 16,754,000 in the same period of 2022[24] - The company reported a loss attributable to owners of the company of HKD 20,831,000 for the six months ended September 30, 2023, a decrease in loss of 54% compared to HKD 45,480,000 in the same period of 2022[27] Cash Flow and Liquidity - The net cash used in operating activities for the six months ended September 30, 2023, was HKD 50,544,000, compared to a net cash generated of HKD 69,199,000 in the prior year, indicating a shift in cash flow dynamics[12] - The company generated a net cash inflow from investing activities of HKD 64,849,000 for the six months ended September 30, 2023, contrasting with a net cash outflow of HKD 107,635,000 in the same period last year[12] - The company’s cash and cash equivalents stood at HKD 170,022,000, down from HKD 186,575,000[8] - The company’s cash and cash equivalents at the end of the period stood at HKD 446,304,000, up from HKD 345,373,000 at the end of the previous year, representing an increase of approximately 29.2%[12] - The group maintained a strong liquidity position with cash and bank deposits of HKD 509.1 million as of September 30, 2023, compared to HKD 554.3 million on March 31, 2023[56] Assets and Liabilities - Trade receivables increased significantly to HKD 153,818,000, up 110.6% from HKD 72,968,000 as of March 31, 2023[8] - Inventory levels rose to HKD 46,007,000, compared to HKD 41,066,000 at the end of the previous reporting period[8] - Current liabilities increased to HKD 234,316,000, up from HKD 194,033,000 as of March 31, 2023[9] - The company's total assets decreased slightly to HKD 1,011,706,000 from HKD 1,054,848,000[9] - Trade receivables for product sales as of September 30, 2023, amounted to HKD 154,254,000, a significant increase from HKD 73,266,000 as of March 31, 2023[38] - Short-term deposits as of September 30, 2023, were HKD 62,783,000, a decrease from HKD 115,632,000 as of March 31, 2023[39] - Trade payables as of September 30, 2023, totaled HKD 91,400,000, an increase from HKD 51,240,000 as of March 31, 2023[40] - As of September 30, 2023, the total assets of the group amounted to HKD 1.246 billion, a slight decrease from HKD 1.249 billion on March 31, 2023[56] - The debt-to-equity ratio as of September 30, 2023, was 1.4%, a slight improvement from 1.6% on March 31, 2023[56] Sales Performance - The group’s sales revenue increased by 12% to HKD 276.4 million for the six months ended September 30, 2023, compared to HKD 246.4 million in the same period last year[49] - European sales revenue rose by 47% to HKD 71.1 million, accounting for 26% of total sales revenue[51] - Sales revenue in the Americas increased by 11% to HKD 179.5 million, representing 65% of total sales revenue[51] - Asian sales revenue decreased by 30% to HKD 22 million, making up 8% of total sales revenue[51] - Other markets saw a 21% decline in sales revenue to HKD 3.8 million, contributing 1% to total sales revenue[51] Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.02 per share for the year 2023, totaling HKD 49,958,000, compared to no dividend declared in 2022[30] - The company declared an interim dividend of HKD 0.02 per share and a special interim dividend of HKD 0.13 per share for the six months ended September 30, 2023[49] - Major shareholders include Credit Suisse Trust Limited with 154,349,960 shares (46.34%) and Unison Associates Limited with 147,779,960 shares (44.37%) [67] - The company did not purchase, sell, or redeem any of its shares during the six months ending September 30, 2023 [71] - The company will suspend share transfer registration from December 13 to December 15, 2023, for entitlement to interim dividends [70] Operational Efficiency - The company plans to complete all received procurement orders within one year, indicating a focus on operational efficiency and timely delivery[17] - Total administrative expenses decreased by 16.9% to HKD 38.4 million, with the percentage of administrative expenses to sales revenue dropping from 18.8% to 13.9%[52] - The management assessed impairment losses of HKD 24,879,000 on certain property, plant, and equipment due to weak customer demand and unfavorable operating conditions[35] - The company recognized a decrease in the fair value of investment properties amounting to HKD 15,660,000 for the six months ended September 30, 2023, compared to an increase of HKD 1,517,000 in the same period of 2022[31] - The group reported a net cash outflow from operating activities of HKD 50.5 million for the six months ended September 30, 2023, compared to a cash inflow of HKD 69.2 million in the same period of 2022[56] - Inventory balance as of September 30, 2023, was HKD 46 million, a decrease of HKD 14.4 million compared to the previous year, with inventory turnover days reduced from 61 days to 31 days[58] - Trade receivables increased to HKD 153.8 million as of September 30, 2023, up HKD 64.1 million year-on-year, with trade receivables turnover days increasing from 66 days to 102 days[58] - Trade payables increased to HKD 91.4 million as of September 30, 2023, up HKD 45.3 million year-on-year, with trade payables turnover days increasing from 36 days to 65 days[58] Employee and Governance - The group employed approximately 1,640 employees as of September 30, 2023, a decrease from 1,680 employees in 2022[61] - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules during the reporting period [72] - The audit committee reviewed the unaudited condensed consolidated financial statements and confirmed compliance with applicable accounting standards and regulations [74] - The company expressed gratitude to employees, shareholders, and business partners for their contributions and support [75] - The group has no significant contingent liabilities as of September 30, 2023[60] - The group plans to seek growth opportunities through new customers and product categories, particularly in the online sales channels in mainland China[55]
亚伦国际(00684) - 2024 - 中期财报