Financial Performance - For the six months ending September 30, 2024, the group's revenue was HKD 968 million, a decrease of 24.4% compared to HKD 1.272 billion in the same period last year[19]. - Net profit attributable to equity shareholders was HKD 131.6 million, down 40.1% from HKD 219.7 million in the same period last year[19]. - Gross profit for the same period was HKD 426,097,000, down 24.8% from HKD 566,240,000 year-over-year[33]. - Operating profit decreased to HKD 160,522,000, representing a decline of 37.4% from HKD 256,510,000 in the previous year[33]. - Profit attributable to equity shareholders for the period was HKD 131,590,000, a decrease of 40.1% compared to HKD 219,724,000 in the prior year[33]. - Total comprehensive income attributable to equity shareholders was HKD 134,915,000, compared to HKD 196,026,000 in the previous year, reflecting a decline of 31.2%[36]. - The reported segment profit for the six months ended September 30, 2024, was HKD 104,272,000, down 48% from HKD 199,278,000 in 2023[63]. - Total revenue for the six months ended September 30, 2024, was HKD 961,807,000, a decrease of 24% compared to HKD 1,272,372,000 in 2023[67]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.10 per ordinary share, consistent with the previous year[20]. - The company declared an interim dividend of HKD 0.10 per share for the current period, consistent with the previous year[75]. - The company's dividend payments for the six months ended September 30, 2024, amounted to HKD 137,971,000, an increase from HKD 106,435,000 in 2023, representing a rise of 29.7%[47]. - The board approved a share buyback program of up to HKD 100 million to enhance shareholder returns and maintain financial strength[20]. Market and Operational Outlook - The outlook for the Hong Kong retail market remains weak due to slow recovery in the real estate market and weak consumer confidence[23]. - The group remains optimistic about the long-term prospects in China and will seek to expand its business in the region[23]. - In Taiwan, despite weak consumer confidence, sales revenue increased by 3.4% in local currency[21]. - In China, retail and e-commerce sales grew by 2.3% in local currency, attributed to the expansion of the retail network and integration of the distribution network[21]. Cash Flow and Financial Position - The group holds net cash of HKD 2.873 billion, enabling it to navigate the challenging retail environment and potential economic downturns[25]. - Operating cash flow before changes in working capital for the six months ended September 30, 2024, was HKD 172,847,000, compared to HKD 279,262,000 for the same period in 2023, representing a decrease of 38.1%[47]. - Cash generated from operating activities for the six months ended September 30, 2024, was HKD 130,692,000, down from HKD 144,060,000 in 2023, a decline of 9.5%[47]. - The total cash and cash equivalents as of September 30, 2024, were HKD 3,448,661,000, up from HKD 3,225,654,000 at the end of the previous period, reflecting an increase of 6.9%[47]. - The company's cash and bank balances stood at HKD 3.486 billion as of September 30, 2024, slightly down from HKD 3.496 billion as of March 31, 2024[109]. - The current ratio of the company was 4.1 times as of September 30, 2024, up from 3.3 times as of March 31, 2024, indicating improved liquidity[110]. - As of September 30, 2024, the company had bank loans of HKD 575,442,000, down from HKD 799,093,000 as of March 31, 2024[82]. - The effective borrowing interest rate as of September 30, 2024, was 4.74%, compared to 5.63% as of March 31, 2024[82]. Assets and Liabilities - Non-current assets as of September 30, 2024, totaled HKD 643,567,000, down from HKD 812,820,000 as of March 31, 2024[40]. - Current assets decreased to HKD 3,259,383,000 from HKD 3,164,473,000, indicating a slight increase of 3.0%[40]. - Total liabilities decreased to HKD 1,066,528,000 from HKD 1,381,132,000, a reduction of 22.7%[40]. - The company's net assets as of September 30, 2024, were HKD 3,568,680,000, slightly down from HKD 3,571,736,000 as of March 31, 2024[40]. - The company experienced a decrease in inventory by HKD 12,996,000 for the six months ended September 30, 2024, compared to an increase of HKD 26,649,000 in the same period of 2023[47]. - The company reported a decrease in accounts payable and accrued liabilities by HKD 83,804,000 for the six months ended September 30, 2024, compared to an increase of HKD 20,494,000 in the same period of 2023[47]. - Contract liabilities decreased significantly to HKD 12,505 from HKD 31,413, representing a decline of 60.2%[83]. - Other payables, accruals, and provisions totaled HKD 182,316, down 18.6% from HKD 224,074[83]. Corporate Governance and Compliance - The company adheres to high standards of corporate governance to enhance transparency and protect shareholder interests[115]. - The company has complied with all applicable provisions of the corporate governance code, except for the CEO's responsibilities being fulfilled by the Group Executive Chairman[115]. - The audit committee has reviewed the unaudited consolidated interim results for the six months ending September 30, 2024[119]. Employee and Remuneration - The total employee cost, including directors' remuneration, was HKD 114.9 million for the year, compared to HKD 129.7 million in 2023, reflecting a reduction in workforce from 754 to 618 employees[108]. - The company’s employee remuneration policy is regularly reviewed by the board, with the remuneration committee overseeing the compensation of directors and senior management[108].
迪生创建(00113) - 2025 - 中期财报