Financial Performance - The group's revenue for the six months ended September 30, 2023, was approximately HKD 129.0 million, an increase of about 47.3% compared to approximately HKD 87.6 million for the same period in 2022[12]. - The profit attributable to the company's owners for the period was approximately HKD 10.8 million, representing an increase of about 86.2% from approximately HKD 5.8 million in the same period last year[21]. - The gross profit increased by approximately HKD 5.3 million or 19.9% to about HKD 31.9 million, while the overall gross margin decreased from approximately 30.4% to about 24.7% due to increased discounts offered to customers[14]. - Revenue for the six months ended September 30, 2023, was HKD 129,004,000, representing a 47.1% increase from HKD 87,560,000 in the same period last year[60]. - Gross profit for the same period was HKD 31,873,000, up 19.5% from HKD 26,647,000 year-over-year[60]. - Profit before tax increased to HKD 13,041,000, a 86.5% rise compared to HKD 6,990,000 in the previous year[60]. - Net profit for the period was HKD 10,841,000, which is a 87.5% increase from HKD 5,790,000 year-over-year[60]. - Total comprehensive income for the period ended September 30, 2023, was HKD 10,841,000, compared to HKD 5,790,000 for the same period in 2022, indicating an increase of 87.5%[64]. Expenses and Costs - Selling and distribution expenses for the period were approximately HKD 12.1 million, an increase of about 7.1% from approximately HKD 11.3 million in the same period last year[16]. - Administrative expenses for the period were approximately HKD 8.1 million, a decrease from approximately HKD 9.7 million in the same period last year, mainly due to reduced employee costs[17]. - The total expenses for inventory costs recognized during the six months ended September 30, 2023, were HKD 100,578,000, an increase of 64.2% from HKD 60,913,000 in 2022[83]. - The tax expense for the six months ended September 30, 2023, was HKD 2,200,000, up from HKD 1,200,000 in the same period of 2022, representing an increase of 83.3%[84]. Cash Flow and Assets - The company's cash and bank balances decreased to HKD 61,518,000 from HKD 97,080,000[62]. - The net cash generated from operating activities for the six months ended September 30, 2023, was HKD 37,976,000, a decrease of 22.4% from HKD 48,887,000 in the previous year[66]. - The total cash and cash equivalents decreased by HKD 35,562,000 during the period, contrasting with an increase of HKD 46,422,000 in the same period last year[66]. - The cash and cash equivalents at the end of the period were HKD 61,518,000, down from HKD 108,850,000 at the end of the same period last year, reflecting a decrease of 43.4%[66]. - Total assets as of September 30, 2023, were HKD 111,926,000, down from HKD 170,946,000 as of March 31, 2023[62]. Shareholder Information - The issued share capital as of September 30, 2023, was HKD 4,000,000, with 400,000,000 shares issued at a par value of HKD 0.01 each[27]. - Mr. Siu Muk Lung held 281,070,000 shares, representing approximately 70.26% of the total issued shares as of September 30, 2023[38]. - The company declared a special dividend of HKD 0.15 per share on August 17, 2023, payable on September 18, 2023[49]. - The company did not recommend an interim dividend for the current period, consistent with no interim dividend declared in the same period last year[50]. - A special dividend of HKD 0.15 per ordinary share was declared, totaling HKD 60,000,000, while no interim dividend was recommended for the six months ended September 30, 2023[90]. Business Development and Strategy - The group established an online platform during the period to facilitate customer top-ups for prepaid products and launched additional prepaid products for local and overseas mobile data services[10]. - The group plans to expand its sales network by increasing the number of retailers and enhancing inventory management capabilities to capture growth opportunities post-COVID-19[11]. - The group aims to increase its market share in the prepaid products sector targeting Indonesian and Philippine users, as well as other users[11]. - The group plans to explore new business opportunities to enhance shareholder value at the appropriate time[35]. Employee and Management Information - The total number of employees increased to 47 as of September 30, 2023, compared to 43 a year earlier, with total employee compensation for the period amounting to approximately HKD 8.6 million, down from HKD 11.0 million[30]. - The total remuneration for key management personnel for the six months ended September 30, 2023, was HKD 3,242,000, a decrease from HKD 6,142,000 for the same period in 2022[99]. Inventory and Receivables - Inventory as of September 30, 2023, was approximately HKD 42.0 million, a decrease of about HKD 17.8 million from approximately HKD 59.8 million as of March 31, 2023, primarily due to increased sales[22]. - Accounts receivable as of September 30, 2023, was HKD 1,163,000, a decrease from HKD 1,456,000 as of March 31, 2023[92]. - The aging analysis of accounts receivable shows that HKD 1,163,000 was within 0 to 21 days, while there were no amounts overdue beyond 21 days as of September 30, 2023[93]. - The total amount of deposits, prepayments, and other receivables was HKD 6,572,000 as of September 30, 2023, down from HKD 9,077,000 as of March 31, 2023[95]. Property and Capital Commitments - The group acquired a property in Hong Kong for office use at a cost of HKD 9.0 million during the period[32]. - There were no capital commitments related to the acquisition of properties, plants, and equipment as of September 30, 2023, compared to HKD 197,000 as of March 31, 2023[34]. - The group paid approximately HKD 9,888,000 for the acquisition of property, plant, and equipment during the six months ended September 30, 2023, compared to HKD 934,000 for the year ended March 31, 2023[91]. Liabilities and Financial Position - The group had no bank or other borrowings as of September 30, 2023, remaining at zero since March 31, 2023[24]. - The equity-to-debt ratio was zero as of September 30, 2023, consistent with no outstanding debts[25]. - The group has no significant contingent liabilities as of September 30, 2023, remaining unchanged since March 31, 2023[36].
港亚控股(01723) - 2024 - 中期财报