Financial Performance - For the six months ended December 31, 2023, the company reported revenue of HKD 24,160,000, a decrease of 30.3% compared to HKD 34,565,000 for the same period in 2022[4] - The gross profit for the same period was HKD 4,812,000, down 15.5% from HKD 5,699,000 year-on-year[4] - The operating loss for the six months was HKD 2,771,000, compared to a loss of HKD 1,760,000 in the previous year, indicating a worsening performance[4] - The net loss attributable to owners of the company for the period was HKD 2,883,000, compared to a loss of HKD 2,018,000 in the same period last year[4] - The company reported a comprehensive loss of HKD 3,311,000 for the six months, compared to a loss of HKD 1,506,000 in the previous year[6] - The company reported a total loss of HKD 2,934,000 for the six months ended December 31, 2023, compared to a loss of HKD 2,113,000 in the same period of 2022[29] - For the three months ended December 31, 2023, the company reported a loss attributable to shareholders of approximately HKD 435,000, compared to a profit of HKD 432,000 for the same period in 2022, with a weighted average of 801,153,441 ordinary shares issued during the period[33] - The company’s basic loss per share for the six months ended December 31, 2023, was HKD 0.0036, compared to HKD 0.0025 in the same period of 2022[32] - For the six months ended December 31, 2023, the diluted loss per share was the same as the basic loss per share, reflecting the impact of unexercised convertible non-voting preferred shares[34] Assets and Liabilities - The company’s total assets decreased to HKD 59,872,000 from HKD 64,499,000 as of June 30, 2023, reflecting a decline in asset value[8] - The total assets of the company as of December 31, 2023, were HKD 61,872,000, a decrease from HKD 64,499,000 as of June 30, 2023[25] - The company’s total liabilities as of December 31, 2023, were HKD 32,400,000, an increase from HKD 31,716,000 as of June 30, 2023[25] - The total equity attributable to owners of the company decreased to HKD 49,436,000 from HKD 52,696,000, reflecting a decline in shareholder value[9] Cash Flow and Working Capital - The company’s cash and cash equivalents stood at HKD 12,344,000, a slight decrease from HKD 13,239,000 as of June 30, 2023[8] - The company had cash and cash equivalents of HKD 12,344,000 at the end of the reporting period, up from HKD 4,191,000 at the end of the same period in 2022[13] - The net cash generated from operating activities for the six months ended December 31, 2023, was HKD 885,000, compared to a net cash used of HKD 1,235,000 in the same period of 2022[13] Inventory and Receivables - Inventory levels increased significantly to HKD 6,286,000 from HKD 2,092,000, indicating potential overstocking issues[8] - Trade receivables as of December 31, 2023, amounted to HKD 29,834,000, a decrease from HKD 31,218,000 as of June 30, 2023[39] - The aging analysis of trade receivables showed that HKD 14,822,000 was overdue for more than 180 days as of December 31, 2023, compared to HKD 13,447,000 as of June 30, 2023[40] - Trade payables as of December 31, 2023, totaled HKD 26,451,000, an increase from HKD 24,351,000 as of June 30, 2023[42] Business Segments - The swimwear and apparel segment generated revenue of approximately HKD 10,534,000, down from HKD 16,534,000 in the same period last year, with a gross profit margin of 38.05%[56] - The e-commerce and online shopping segment reported revenue of approximately HKD 13,218,000, a decrease from HKD 17,284,000, with a gross profit margin of 3.00%[57] - The lending segment generated revenue of approximately HKD 408,000, maintaining a gross profit margin of 100%[59] - The segment profit/loss for the e-commerce and online shopping segment was a loss of HKD 902,000 for the six months ended December 31, 2023, compared to a profit of HKD 556,000 in the same period of 2022[19] Corporate Governance and Compliance - The audit committee has reviewed the unaudited results for the six months ending December 31, 2023[83] - The company has adopted a code of conduct for securities trading by directors, in compliance with GEM Listing Rules[86] - No known conflicts of interest were reported among directors, major shareholders, and management[81] - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[85] - There were no reported violations of the conduct rules by employees who may possess unpublished price-sensitive information[87] - The company has established an audit committee consisting of three independent non-executive directors[82] Future Outlook and Strategy - The company has not provided specific guidance for future performance or new product developments in the current report[4] - The company plans to continue cost-cutting measures and is preparing to seize market recovery opportunities in the swimwear and apparel segment[68] - The company will closely monitor market challenges in the e-commerce segment due to the strong US dollar and declining demand for high-quality second-hand mobile phones[68] - The company aims to maintain and develop its lending business while allocating sufficient resources to meet business demands[69] Shareholder Information - Major shareholders include Mr. Liu with 149,294,199 shares (18.63%), JL Investments Capital Limited with 141,674,199 shares (17.68%), and Big Good Management Limited with 135,053,384 shares (16.85%) each[75] - The total issued share capital as of December 31, 2023, was 801,535,615 shares[78] - The issued share capital increased to 801,535,615 shares as of December 31, 2023, from 792,745,615 shares as of June 30, 2023[47] - The company did not repurchase any shares during the reporting period[80] - The company did not declare any dividends for the six months ended December 31, 2023, consistent with the previous year[36] - The company does not recommend the payment of an interim dividend for the six months ended December 31, 2023[60] Employment and Workforce - As of December 31, 2023, the company had 89 full-time employees, an increase from 88 as of June 30, 2023[65] - As of December 31, 2023, the company had no unexercised share options under the plan, consistent with 2022[72] Seasonal Trends - The company experienced seasonal fluctuations in sales, with the highest demand for swimwear and related apparel typically occurring in the first quarter of each calendar year[50]
荟萃国际(控股)(08041) - 2024 - 中期业绩