佰悦集团(08545) - 2025 - 中期财报

Financial Performance - The unaudited condensed consolidated results for the six months ended September 30, 2024, have been announced, with comparative figures for the same period in 2023[9]. - Revenue for the six months ended September 30, 2024, was HK$59,027,000, a decrease from HK$103,294,000 in the same period last year, representing a decline of approximately 42.8%[10]. - Gross profit for the same period was HK$11,461,000, down from HK$18,041,000, indicating a decrease of about 36.5%[10]. - The company reported a profit of HK$1,536,000 for the period, with a profit per share of HK$0.13[10]. - The consolidated profit before taxation for the six months ended September 30, 2024, was HK$2,290,000, compared to a loss of HK$ (428,000) in 2023, indicating a recovery in profitability[45]. - Other income for the period was HK$2,480,000, compared to a loss of HK$ (534,000) in the previous year, showing a positive turnaround[45]. - The Group's revenue decreased by approximately 42.9% to approximately HK$59,027,000 for the Period from approximately HK$103,294,000 for the Corresponding Period[113]. - Gross profit decreased by approximately 36.5% to approximately HK$11,461,000 for the Period from approximately HK$18,041,000 for the Corresponding Period, with a gross profit margin increase to 19.4%[114]. Cash Flow and Assets - Net cash generated from operating activities was HK$16,606,000, compared to a cash outflow of HK$10,349,000 in the previous year, showing a significant turnaround[16]. - Cash and cash equivalents at the end of the period increased to HK$89,707,000 from HK$23,514,000 at the beginning of the period, marking a substantial increase[16]. - Total assets as of September 30, 2024, were HK$198,725,000, slightly up from HK$196,656,000 as of March 31, 2024[11]. - The net current assets stood at HK$157,895,000, compared to HK$152,811,000 as of March 31, 2024, reflecting a positive trend[11]. - Cash at bank and on hand increased to HK$119,433,000 as of September 30, 2024, compared to HK$102,696,000 as of March 31, 2024[94]. - Bank deposits with maturities over three months rose to HK$89,707,000 as of September 30, 2024, from HK$23,514,000 as of March 31, 2024[94]. Expenses - The company incurred selling expenses of HK$10,223,000 and administrative expenses of HK$12,727,000 during the period[10]. - Selling expenses decreased sharply by approximately 44.0% to approximately HK$2,386,000 for the Period from approximately HK$4,260,000 for the Corresponding Period[121]. - Administrative expenses decreased by approximately 19.7% to approximately HK$10,223,000 from approximately HK$12,727,000 in the corresponding period[122]. - Staff costs, including directors' remuneration, totaled HK$6,510,000 for the period, down from HK$7,980,000 in the previous year, representing a reduction of approximately 18.4%[54]. Shareholder Information - As of September 30, 2024, the Company’s issued ordinary share capital was HK$11,923,077, divided into 1,192,307,692 shares[143]. - Mr. Li Wai Keung holds 204,640,000 shares, representing 17.16% of the Company’s issued share capital[142]. - Ms. Fong Wing Yan, as the spouse of Mr. Li, also holds 204,640,000 shares, equating to 17.16% of the issued share capital[148]. - Ms. Lam Hoi Yan is a beneficial owner of 65,000,000 shares, which is 5.45% of the issued share capital[148]. Corporate Governance - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended 30 September 2024, confirming compliance with applicable accounting standards and GEM Listing Rules[156]. - The Company has complied with the Corporate Governance Code during the period, except for a deviation regarding the roles of the chairman and CEO[154]. - The Board composition includes Mr. Li Wai Keung as Chairman and Executive Director, with other executive and non-executive directors listed[158]. - The Company has not reported any conflicts of interest among its directors during the period[151]. Market and Operational Insights - The Group's principal activities include design, marketing, distribution, and retail sales of toys and related products, as well as providing agency services[32][35]. - The Group plans to expand its network beyond the ACG figure toys market to diversify income sources and enhance shareholder value[136]. - The Group's financial performance may be significantly impacted by the failure to obtain new orders[134]. - Ineffective quality control over suppliers and products could adversely affect the Group's business operations[135].