四洲集团中期报告2024-2025

The board of directors (the “Board”) of Four Seas MercantileHoldings Limited (the “Company”) presents the unauditedcondensed consolidated statement of financial position as at30 September 2024 of the Company and its subsidiaries (the“Group”) and the unaudited condensed consolidated statementof profit or loss, unaudited condensed consolidated statementof comprehensive income, unaudited condensed consolidatedstatement of changes in equity and unaudited condensedconsolidated statement of cash flows for the six months ended30 September 2024 as follows: CONDENSED CONSOLIDATEDSTATEMENT OF PROFIT OR LOSS CONDENSED CONSOLIDATEDSTATEMENT OF COMPREHENSIVEINCOME CONDENSED CONSOLIDATEDSTATEMENT OF CHANGES IN EQUITY SIX MONTHS ENDED 30 SEPTEMBER 2024 NOTES TO THE CONDENSEDCONSOLIDATED FINANCIALSTATEMENTS 1. 1.ACCOUNTING POLICIES D234 The unaudited condensed consolidated interim financialstatements are prepared in accordance with the applicabledisclosure requirements of Appendix D2 to the Rules Governingthe Listing of Securities (“Listing Rules”) on The StockExchange of Hong Kong Limited and the Hong Kong AccountingStandard (“HKAS”) 34Interim Financial Reporting issuedby the Hong Kong Institute of Certified Public Accountants(“HKICPA”). The accounting policies and basis of preparation adopted in thepreparation of the unaudited condensed consolidated interimfinancial statements are consistent with those adopted in thepreparation of the annual financial statements for the year ended31 March 2024. In the current interim period, the Group has applied, for the firsttime, certain revised Hong Kong Financial Reporting Standards(“HKFRSs”) issued by the HKICPA that are mandatorilyeffective for the Group’s financial years beginning on or after 1April 2024. The nature and impact of the revised HKFRSs are describebelow: (a)Amendments to HKFRS 16 specify the requirements that aseller-lessee uses in measuring the lease liability arising ina sale and leaseback transaction to ensure the seller-lesseedoes not recognise any amount of the gain or loss thatrelates to the right of use it retains. Since the Group has nosale and leaseback transactions with variable lease paymentsthat do not depend on an index or a rate occurring from thedate of initial application of HKFRS 16, the amendmentsdid not have any impact on the financial position orperformance of the Group. (a)1616 1. 1.ACCOUNTING POLICIES(continued) (b) (b)The 2020 Amendments clarify the requirements forclassifying liabilities as current or non-current, includingwhat is meant by a right to defer settlement and that aright to defer must exist at the end of the reporting period.Classification of a liability is unaffected by the likelihoodthat the entity will exercise its right to defer settlement.The amendments also clarify that a liability can be settledin its own equity instruments, and that only if a conversionoption in a convertible liability is itself accounted for as anequity instrument would the terms of a liability not impactits classification. The 2022 Amendments further clarifythat, among covenants of a liability arising from a loanarrangement, only those with which an entity must complyon or before the reporting date affect the classificationof that liability as current or non-current. Additionaldisclosures are required for non-current liabilities that aresubject to the entity complying with future covenants within12 months after the reporting period. The Group has reassessed the terms and conditions of itsliabilities as at 1 April 2023 and 2024 and concluded thatthe classification of its liabilities as current or non-currentremained unchanged upon initial application of theamendments. Accordingly, the amendments did not haveany impact on the financial position or performance of theGroup. (c)77 (c)Amendments to HKAS 7 and HKFRS 7 clarify thecharacteristics of supplier finance arrangements and requireadditional disclosure of such arrangements. The disclosurerequirements in the amendments are intended to assistusers of financial statements in understanding the effectsof supplier finance arrangements on an entity’s liabilities,cash flows and exposure to liquidity risk. The disclosureof relevant information for supplier finance arrangementsis not required for any interim reporting period during thefirst annual reporting period in which an entity applies theamendments. As the Group does not have supplier financearrangements, the amendments did not have any impact onthe interim condensed consolidated financial information. 2. 2.OPERATING SEGMENT INFORMATION For management purposes, the Group is organised into businessunits based on geographical areas and has three reportableoperating segments as follows: (i) (i)the Hong Kong segment is engaged in the manufacturingand trading of snack foods, confectionery, beverages, frozenfood products, ham and ham-related products, noodles andthe retailing of snack foods, confectionery and beverages,provision of caterin