Financial Performance - The total revenue for the six months ended September 30, 2023, was approximately HKD 136.5 million, a decrease of 4.5% compared to HKD 143 million for the same period in 2022[12]. - The net profit for the same period was approximately HKD 27.2 million, down from HKD 33.5 million in the previous year, reflecting a decrease of about HKD 6.3 million[14]. - The gross profit margin improved to 72.4% from 69.9% year-on-year, indicating enhanced operational efficiency[12]. - The total number of sold burial plots decreased by 1.7%, contributing to the decline in revenue[14]. - Total revenue for the period was approximately HKD 136,500,000, a decrease from HKD 143,000,000 in the same period last year[31]. - Sales of burial plots and niches amounted to approximately HKD 123,200,000, down from HKD 129,400,000 year-on-year[31]. - Profit attributable to the company's owners for the period was approximately HKD 26,000,000, down from HKD 33,400,000 in the same period last year[35]. - Gross profit for the same period was HKD 98,865,000, down from HKD 99,879,000, reflecting a slight decline in profitability[117]. - The net profit attributable to the company's owners was HKD 26,014,000, a decrease of 22.2% from HKD 33,423,000 in the previous year[117]. - The company reported a foreign exchange loss of HKD 45,617,000, compared to a loss of HKD 102,670,000 in the previous year, indicating a reduction in currency-related impacts[121]. Cash Flow and Liquidity - Cash and cash equivalents increased by approximately HKD 74,700,000, compared to an increase of HKD 50,000,000 in the previous period[36]. - As of September 30, 2023, the group had cash and cash equivalents and time deposits of approximately HKD 344,400,000[36]. - For the six months ended September 30, 2023, net cash flow from operating activities was HKD 36,643,000, a decrease of 36.5% compared to HKD 57,978,000 for the same period in 2022[61]. - Net cash flow from investing activities was HKD 58,219,000, significantly up from HKD 979,000 in the previous year[61]. - The total cash and cash equivalents at the end of the period reached HKD 344,424,000, up from HKD 241,488,000, marking an increase of approximately 43%[132]. - The increase in cash and cash equivalents during the period was HKD 74,676,000, compared to HKD 50,027,000 in the prior year, showing improved liquidity[132]. Expenses and Costs - Administrative expenses rose from HKD 37,500,000 to HKD 44,600,000, mainly due to increased maintenance costs for cemetery and burial plot assets[34]. - The total employee cost for the period was approximately HKD 20,700,000, an increase of 4.0% from HKD 19,900,000 for the same period last year[70]. - Employee benefits expenses (excluding directors and key management personnel) increased to HKD 18,297,000 from HKD 17,503,000, reflecting a rise of 4.5%[168]. - The cost of sold inventory for the period was HKD 28,640,000, down from HKD 34,205,000 in the previous year, representing a decrease of 16.5%[168]. Assets and Liabilities - The current ratio as of September 30, 2023, was approximately 3.29, down from 3.79 as of March 31, 2023, due to an increase in current liabilities[17]. - Total assets as of September 30, 2023, were approximately HKD 1,275,300,000, down from HKD 1,332,600,000 as of March 31, 2023[64]. - Net assets decreased to approximately HKD 954,900,000 from HKD 1,006,700,000, primarily due to a net profit attributable to owners of HKD 26,000,000 offset by dividends payable of HKD 33,300,000[64]. - The debt-to-asset ratio as of September 30, 2023, was 0.25, slightly up from 0.24 as of March 31, 2023[63]. - Total current liabilities rose to HKD 178,899,000, up from HKD 159,972,000, reflecting increased operational costs[117]. Corporate Governance and Compliance - The company has complied with the corporate governance code as of September 30, 2023[96]. - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[96]. - The group has no known interests in competitive businesses from directors or major shareholders as of September 30, 2023[94]. Strategic Focus and Initiatives - The company continues to focus on core projects and optimize brand culture to enhance social value[10]. - The company is leveraging advanced technologies such as AI and digital twins to innovate in the funeral service sector[10]. - The company is committed to promoting ecological burial practices and has received recognition for its initiatives in this area[10]. - The company plans to continue developing its cemetery business in China and will focus on product strategy adjustments and upgrades[30][29]. - The company continues to focus on its cemetery business in China, with no new product or technology developments reported during this period[136]. - The group’s operational focus remains on its cemetery business in China, with no new segments reported, indicating a strategic focus on existing operations[191].
安贤园中国(00922) - 2024 - 中期财报