Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 81,953,000, an increase of 12.8% compared to HKD 72,905,000 in the same period of 2022[6] - Net profit for the period was HKD 8,085,000, representing a 4.4% increase from HKD 7,742,000 in the previous year[6] - Basic earnings per share increased to HKD 3.37, up from HKD 3.23, reflecting a growth of 4.3%[6] - The company reported a profit before tax of HKD 9,911,000, compared to HKD 8,785,000 in the previous year, reflecting a growth of 12.8%[22] - Pre-tax profit for the period was HKD 8,085,000, compared to HKD 7,742,000 in the same period last year, indicating a growth of 4.4%[32] - Profit attributable to the owners of the company slightly increased by 5.2% from approximately HKD 7.7 million for the six months ended September 30, 2022, to approximately HKD 8.1 million for the six months ended September 30, 2023[56] Revenue Breakdown - Tile sales contributed HKD 75,764,000, up 51.9% from HKD 49,884,000 in the previous year, while bathroom fixtures and other products decreased to HKD 5,949,000 from HKD 22,781,000[18] - Retail sales accounted for HKD 36,406,000, down 29.0% from HKD 51,358,000, while non-retail sales surged to HKD 45,307,000, up 112.5% from HKD 21,307,000[18] - Revenue from external customers for the six months ended September 30, 2023, was HKD 81,953,000, an increase of 12.8% compared to HKD 72,905,000 in 2022[25] - Revenue from Hong Kong increased to HKD 60,453,000 from HKD 52,955,000, representing a growth of 14.2%[25] - Revenue from Macau rose to HKD 21,500,000 from HKD 19,950,000, reflecting an increase of 7.8%[25] - Revenue from the sale of tiles and sanitary ware products was approximately HKD 81.7 million, with retail sales contributing HKD 36.4 million and non-retail sales contributing HKD 45.3 million[60] Assets and Liabilities - Total assets as of September 30, 2023, were HKD 218,877,000, up from HKD 200,730,000 as of March 31, 2023[8] - The company’s total liabilities increased to HKD 180,811,000 from HKD 178,710,000, indicating a slight rise in financial obligations[24] - Trade receivables increased significantly to HKD 86,529,000 from HKD 58,824,000, marking a 47.1% rise[8] - Non-current assets decreased to HKD 97,379,000 from HKD 105,340,000, reflecting a decline of 7.5%[8] - Cash generated from operating activities was HKD 30,377,000, compared to HKD 27,026,000 in the prior year, indicating a 8.7% increase[11] - Cash and cash equivalents increased from HKD 13.8 million as of March 31, 2023, to HKD 15.9 million as of September 30, 2023[44] Financing and Costs - Financing costs rose to HKD 3,844,000 from HKD 2,694,000, an increase of 42.6%[6] - Total financing costs for the six months ended September 30, 2023, were HKD 3,844,000, up 42.6% from HKD 2,694,000 in 2022[26] - Employee costs decreased to approximately HKD 8.7 million from HKD 10.3 million due to a reduction in the number of employees[62] - The group had bank borrowings of approximately HKD 75.1 million as of September 30, 2023, down from HKD 80.7 million as of March 31, 2023[68] Strategic Developments - The company continues to focus on expanding its retail and property investment segments, with ongoing evaluations of resource allocation and performance assessment[22] - The acquisition of Zhi Chen, which specializes in solar panel installation and renewable energy consulting, is expected to enhance the group’s business network in the renewable energy sector and diversify its revenue sources[81] - The board believes that the sale of solar panel systems complements the company’s core business of selling high-end tile products to retail and non-retail customers[81] - The group anticipates significant impacts on the retail sector due to market volatility and high interest rates, and plans to implement strict measures to tighten operational expenses[80] Shareholder Information - The company has a total of 240 million shares issued and fully paid as of September 30, 2023[51] - As of September 30, 2023, Mr. Cao Sihao holds 150,000,000 shares, representing 62.50% of the company’s issued share capital[83] - Ms. Xu Daofei holds 152,740,000 shares, representing 63.64% of the company’s issued share capital through her spouse's interests[83] Corporate Governance - The company adopted and complied with the corporate governance code as per the listing rules, with a deviation from code provision C.2.1 regarding the roles of the Chairman and CEO[91] - The audit committee consists of three independent non-executive directors who review the financial information and the relationship with external auditors[97] - No significant contracts involving the company or its subsidiaries were identified as having substantial interests held by directors or controlling shareholders during the reporting period[88]
MOS HOUSE(01653) - 2024 - 中期财报