Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 844,579,000, a decrease of 35.2% compared to HKD 1,304,497,000 in the same period of 2022[4] - Gross profit for the same period was HKD 36,523,000, down 30.9% from HKD 52,986,000 year-over-year[4] - The company reported a net loss of HKD 14,713,000 for the six months ended September 30, 2023, compared to a net loss of HKD 7,210,000 in the prior year, representing a 104.3% increase in losses[7] - Basic and diluted loss per share was HKD 1.77, compared to HKD 0.85 in the previous year, indicating a significant decline in earnings[4] - For the six months ended September 30, 2023, the company reported a total comprehensive loss of HKD 29,514,000, compared to a loss of HKD 36,986,000 for the same period in 2022, representing a 20% improvement[18] - The company incurred a loss of HKD 14,649,000 during the six months ended September 30, 2023, compared to a loss of HKD 7,008,000 in the previous year, indicating a worsening of 109%[18] - The group reported a pre-tax loss of HKD (12,891,000) for the six months ended September 30, 2023, compared to a loss of HKD (3,439,000) in the same period of 2022[31] - Basic loss per share for the six months ended September 30, 2023, was HKD 14,649,000, compared to a loss of HKD 7,008,000 in 2022[37] Assets and Liabilities - Total assets as of September 30, 2023, were HKD 864,568,000, a decrease from HKD 894,206,000 as of March 31, 2023[9] - The company’s total equity attributable to shareholders was HKD 844,068,000, down from HKD 873,582,000 as of March 31, 2023[12] - As of September 30, 2023, total equity stood at HKD 843,846,000, down from HKD 877,753,000 as of March 31, 2023, reflecting a decrease of approximately 4%[18] - Total assets as of September 30, 2023, were HKD 889,804,000, with liabilities of HKD 45,958,000[30] - Accounts payable decreased to HKD 11,144,000 from HKD 16,192,000, with payables within one month at HKD 1,439,000, down from HKD 5,119,000[46] - Bank borrowings remained stable at HKD 2,000,000 as of September 30, 2023, compared to HKD 2,750,000 as of March 31, 2023[47] Cash Flow and Financial Management - Cash and cash equivalents increased to HKD 266,758,000 from HKD 221,000,000, reflecting a positive cash flow trend[9] - Operating cash inflow for the six months ended September 30, 2023, was HKD 55,655,000, a decrease of 64% from HKD 156,928,000 in the previous year[20] - The net cash generated from operating activities was HKD 54,078,000, down 64% from HKD 148,569,000 in the prior year[20] - The company recorded a net cash increase of HKD 50,272,000 for the six months ended September 30, 2023, compared to HKD 112,959,000 in the same period last year, indicating a 55% decrease[20] - The company’s cash and cash equivalents at the end of the period were HKD 266,758,000, down from HKD 309,033,000 at the end of the previous year, a decrease of 14%[20] - The effective interest rate on bank borrowings increased to 6.67% as of September 30, 2023, from 5.57% as of March 31, 2023[48] - Financing costs decreased to HKD 300,000 from HKD 3.4 million in the previous period, indicating improved financial management[64] Inventory and Sales - Inventory decreased significantly to HKD 190,218,000 from HKD 279,578,000, indicating improved inventory management[9] - The cost of inventory recognized as an expense was HKD 809,092,000 for the six months ended September 30, 2023, down from HKD 1,246,076,000 in 2022[43] - Sales volume dropped by 15.9% to approximately 37,610 tons, compared to 44,730 tons in the previous year[62] Strategic Focus and Future Plans - The company plans to focus on market expansion and new product development to improve future performance[4] - The company is focusing on sustainable development strategies to enhance business resilience amid macroeconomic challenges[66] - The company is expanding its geographical coverage to meet the growing demand from local and multinational manufacturers in the ASEAN region[71] - The introduction of a new online defect diagnosis platform for die casting is expected to attract new customer segments[69] - The company is diversifying its service offerings, including professional consulting and expanded laboratory services, which have contributed to higher other income[69] - The group plans to continue investing in new production capacity and exploring opportunities in emerging industries, particularly in the medical field and other sectors[77] Governance and Shareholder Information - The board of directors does not recommend the distribution of an interim dividend for the period[78] - The company has a significant shareholder, Ms. Ma Xiaotao, holding 600,000,000 shares, representing 72.40% of the issued shares[88] - There were no purchases, sales, or redemptions of the company's shares during the interim period[90] - The company has adhered to the corporate governance code as per the Stock Exchange Listing Rules and is not aware of any violations during the interim period[91] - The company has adopted the standard code for securities transactions by directors and is not aware of any violations by directors during the interim period[92]
利记(00637) - 2024 - 中期财报