Financial Performance - The group's revenue for the six months ended September 30, 2023, was approximately HKD 9.3 million, a decrease of about 67.9% compared to the same period in 2022[10]. - The loss attributable to owners of the company for the six months ended September 30, 2023, was approximately HKD 4.6 million, representing a decrease of about 31.5% compared to the same period in 2022[10]. - Revenue for the three months ended September 30, 2023, was HKD 4,683,000, a decrease of 63.1% compared to HKD 12,675,000 for the same period in 2022[11]. - The net loss for the six months ended September 30, 2023, was HKD 4,423,000, compared to a net loss of HKD 10,518,000 for the same period in 2022, representing a 58.0% improvement[11]. - The company reported a comprehensive loss of HKD 4,536,000 for the six months ended September 30, 2023, compared to a comprehensive loss of HKD 8,069,000 for the same period in 2022, showing a 43.5% reduction[11]. - The company reported a loss before tax of HKD 4,324,000 for the six months ended September 30, 2023, compared to a loss of HKD 10,791,000 for the same period in 2022[36]. - The company reported a net loss attributable to owners of HKD 4,472,000 for the six months ended September 30, 2023, compared to a loss of HKD 10,105,000 in the same period in 2022[51]. - The company’s basic and diluted loss per share for the six months ended September 30, 2023, was HKD 0.01, unchanged from the same period in 2022[11]. Revenue Breakdown - Total revenue for the six months ended September 30, 2023, was HKD 9,312,000, a decrease of 68.0% from HKD 29,050,000 in the same period of 2022[27]. - The revenue from the restaurant supply business for the six months ended September 30, 2023, was HKD 6,641,000, down 72.5% from HKD 24,148,000 in the previous year[27]. - Revenue from financial institution cooperation services for the six months ended September 30, 2023, was HKD 2,671,000, down 45.5% from HKD 4,902,000 in the same period of 2022[27]. - The financial institution cooperation service generated revenue of HKD 6,641,000, while the catering supply services contributed HKD 2,671,000[35]. - For the six months ended September 30, 2023, the restaurant supply service revenue decreased by approximately 72.6% to about HKD 6.6 million from approximately HKD 24.1 million in the previous year[78]. - The financial institution cooperation service generated revenue of approximately HKD 2.6 million, down from approximately HKD 4.9 million in the previous year, primarily due to adverse macroeconomic conditions in China[80]. Assets and Liabilities - Total assets as of September 30, 2023, increased to HKD 143,508,000 from HKD 139,252,000 as of March 31, 2023, reflecting a growth of 3.6%[12]. - Total liabilities increased to HKD 247,874,000 as of September 30, 2023, from HKD 239,067,000 as of March 31, 2023, marking a rise of 3.7%[14]. - The company’s equity attributable to owners was HKD (104,415,000) as of September 30, 2023, compared to HKD (104,966,000) as of March 31, 2023, indicating a slight improvement[12]. - The company confirmed a net current liability of approximately HKD 189,430,000 as of September 30, 2023, indicating potential liquidity concerns[22]. - The company's current liabilities exceeded current assets, resulting in a working capital deficit of approximately HKD 88.0 million, with a current ratio of 0.32[90]. - The debt-to-equity ratio was approximately 248.9% as of September 30, 2023, compared to 244.4% as of March 31, 2023, with net debt amounting to HKD 197.5 million[91]. Cash Flow - For the six months ended September 30, 2023, the net cash used in operating activities was HKD (387,000), compared to HKD (15,191,000) for the same period in 2022, indicating a significant improvement[18]. - The financing activities generated a net cash inflow of HKD 311,000 for the six months ended September 30, 2023, compared to a net cash inflow of HKD 14,343,000 in the same period in 2022[18]. - Cash and cash equivalents at the end of the period were HKD 2,226,000, a decrease from HKD 2,510,000 at the end of the same period in 2022[18]. Operational Changes - The group operated 2 restaurants in Hong Kong as of September 30, 2023, down from 5 restaurants in the previous year, with 3 restaurants having closed or been sold[75]. - Employee benefit expenses decreased from approximately HKD 17.3 million to about HKD 4.5 million, mainly due to restaurant closures and organizational streamlining in China[83]. - The total employee count decreased to 46 as of September 30, 2023, down from 119 as of March 31, 2023, with total employee costs for the period amounting to HKD 6.56 million[98]. Strategic Developments - The company has established a one-stop, professional financial services platform aimed at alleviating financing issues for small and micro enterprises[92]. - The company continues to focus on providing various price-point dishes to a broad customer base in Hong Kong, operating 2 restaurants as of September 30, 2023[92]. - The company is currently evaluating the impact of new accounting standards on its operational performance and financial position, but no significant financial impact has been identified yet[24]. - The company has implemented financial risk management policies to ensure timely payment of all payables[61]. Shareholder Information - As of September 30, 2023, the total number of shares issued by the company is 1,898,290,908, with Li Junping holding 79,655,000 shares, representing approximately 4.20%[102]. - Major shareholders include Ri Qiang with 108,750,000 shares (5.73%) and Sheng Zhi International Limited with 99,235,000 shares (5.23%)[105]. - No stock options were granted, exercised, or canceled during the six months ending September 30, 2023, and there are no unexercised stock options as of that date[107]. - The company did not repurchase any shares listed on GEM during the six months ending September 30, 2023[108]. Governance and Compliance - The audit committee, consisting of independent non-executive directors, reviewed the unaudited consolidated results for the six months ending September 30, 2023, ensuring compliance with applicable accounting standards and GEM listing rules[115]. - The company plans to change its English name from "Life Concepts Holdings Limited" to "Jinyu Mantang Holdings Limited," with shareholder approval obtained on September 28, 2023[116]. - The strategic cooperation framework agreement with Shenzhen Jinyu Huicui Technology Co., Ltd. has been terminated, effective October 3, 2023, with no payments made to the partner[118]. - Two executive directors, Yu Qinglong and Li Junping, resigned effective October 12, 2023, with Liu Guowei appointed as the compliance officer[118].
生活概念(08056) - 2024 - 中期财报