四洲集团中期报告2025-2026

The board of directors (the “Board”) of Four Seas MercantileHoldings Limited (the “Company”) presents the unauditedcondensed consolidated statement of financial position as at30 September 2025 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 2025 as follows: CONDENSED CONSOLIDATEDSTATEMENT OF PROFIT OR LOSS CONDENSED CONSOLIDATEDSTATEMENT OF CHANGES IN EQUITY SIX MONTHS ENDED 30 SEPTEMBER 2025 NOTES TO THE CONDENSEDCONSOLIDATED FINANCIALSTATEMENTS 1.ACCOUNTING POLICIES 1. D234 Theunaudited condensed consolidated interim financialstatements are prepared in accordance with the applicabledisclosure requirements of Appendix D2 to the Rules GoverningtheListing 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 2025. 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 2025. 21 Amendments to HKAS 21Lack of Exchangeability The nature and impact of the revised HKFRSs are describedbelow: 21 Amendments to HKAS 21 specify how an entity shall assesswhether a currency is exchangeable into another currency andhow it shall estimate a spot exchange rate at a measurementdate when exchangeability is lacking. The amendments requiredisclosuresof information that enable users of financialstatements to understand the impact of a currency not beingexchangeable. As the currencies that the Group had transactedwith and the functional currencies of group entities for translationinto the Group’s presentation currency were exchangeable, theamendments did not have any impact on the interim condensedconsolidated 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,provisionof catering services,and the operations ofrestaurants; (ii) (ii)t h e C h i n e s e M a i n l a n d s e g m e n t i s e n g a g e d i n t h emanufacturing and trading of snack foods, confectionery,beverages, frozen food products, ham and ham-relatedproducts, noodles and the operations of restaurants; and (iii) (iii)the Japan segment is engaged in the wholesaling anddistribution of snack foods and confectionery. Management monitors the results of the Group’s operatingsegments separately for the purpose of making decisions aboutresources allocation and performance assessment. Segmentperformance is evaluated based on reportable segment profit/loss, which is a measure of adjusted profit/loss before tax. Theadjusted profit/loss before tax is measured consistently with theGroup’s profit before tax except that interest income, dividendincome and unallocated gains/losses, non-lease-related financecosts, share of profits and losses of joint ventures and associatesand corporate and other unallocated expenses are excluded fromsuch measurement. Segment assets exclude deferred tax assets, tax recoverable,investments in joint ventures and associates, financial assetsat fair value through profit or loss, financial assets at fairvalue through other comprehensive income, and cash and cashequivalents as these assets are managed on a group basis. Segment liabilities exclude interest-bearing bank borrowings,tax payable and deferred tax liabilities as these liabilities aremanaged on a group basis. Intersegment sales and transfers are transacted with reference tothe selling prices used for sales made to third parties at the thenprevailing market prices. 2. 2. *39,205,00028,072,000 *The revenue information above is based on the locationsofthe customers,except for a subsidiary within theJapansegment whose sales to external customers ofHK$39,205,000(2024:HK$28,072,000)arising fromChinese Mainland. 2. 3.REVENUE, OTHER INCOME AND GAINS, NET 3.REVENUE, OTHER INCOME AND GAINS, NET(continued) An analysis of revenue is as follows:(continued) (ii)Performance obligations Inform