SMC ELECTRIC(02381)

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蚬壳电业(02381) - 2024 - 中期业绩
2024-08-27 10:02
Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 123,920,000, an increase of 4.3% compared to HKD 118,853,000 for the same period in 2023[2] - Gross profit for the same period was HKD 15,417,000, slightly down from HKD 15,898,000 in 2023, reflecting a decrease of 3.0%[2] - The net profit attributable to the company's owners for the six months ended June 30, 2024, was HKD 12,960,000, a decrease of 0.4% from HKD 13,014,000 in the previous year[2] - The profit before tax for the six months ended June 30, 2024, was HKD 89,244,000, compared to HKD 85,585,000 in 2023, reflecting a growth of 7.8%[12] - The total income tax expense for the six months ended June 30, 2024, was HKD 2,457,000, down from HKD 2,884,000 in 2023, indicating a decrease of 14.8%[13] - The company's earnings per share for the period was HKD 0.648, slightly down from HKD 0.651 in the previous year[2] - Basic earnings per share for the six months ended June 30, 2024, were HKD 0.00648, slightly down from HKD 0.00650 in 2023[16] Assets and Liabilities - The company's total assets as of June 30, 2024, amounted to HKD 187,981,000, up from HKD 172,428,000 as of December 31, 2023, indicating an increase of 9.0%[3] - Current assets net value increased to HKD 133,964,000 from HKD 118,625,000, representing a growth of 12.9%[3] - The company’s cash and bank balances rose to HKD 90,317,000, compared to HKD 82,158,000 at the end of 2023, marking an increase of 9.5%[3] - The company’s total liabilities as of June 30, 2024, were HKD 49,636,000, slightly down from HKD 49,708,000 as of December 31, 2023[20] - Trade receivables as of June 30, 2024, amounted to HKD 70,003,000, an increase of 11.1% from HKD 62,659,000 as of December 31, 2023[18] - The net amount of trade receivables after impairment provisions was HKD 69,740,000, compared to HKD 62,352,000 in the previous period, showing a growth of 11.8%[18] - The group maintained a debt ratio of zero as of June 30, 2024, due to a net cash balance at year-end[27] Dividends - The total dividend proposed for the year 2023 was HKD 10,000,000, with an interim dividend of HKD 0.005 per share for 2024[15] - The board declared an interim dividend of HKD 0.005 per share for the six months ended June 30, 2024, unchanged from the previous year[34] Market and Operations - The company remains focused on expanding its market presence and enhancing its product offerings in the electric tools and fan manufacturing sectors[4] - Revenue from electric fans and power tools for the six months ended June 30, 2024, was HKD 123,920,000, a 4.4% increase from HKD 118,853,000 in 2023[10] - The group had no significant contingent liabilities as of June 30, 2024, consistent with the previous year[29] - There were no major investments or acquisitions during the six months ended June 30, 2024[30] - The group is optimistic yet cautious about the slow global economic recovery and is facing challenges in an unstable environment[23] Compliance and Reporting - The company has adopted new or revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which are not expected to have a significant impact on the financial statements[6] - The company continues to evaluate the potential impact of new accounting standards that will become effective in 2026 and 2027 on its financial performance and position[9] - The audit committee, consisting of two independent non-executive directors and one non-executive director, reviewed the interim performance and financial information for the six months ending June 30, 2024, with no disagreements noted[40] - The interim report for the six months ending June 30, 2024, will be published on the company's website and the Hong Kong Stock Exchange's disclosure platform[41] - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules, ensuring compliance until June 30, 2024[39] Capital Expenditure - The group had a capital expenditure of HKD 0.4 million for the purchase of property, plant, and equipment during the six months ended June 30, 2024, down from HKD 1.0 million in the same period last year[28] - The current ratio as of June 30, 2024, was approximately 3.48 times, compared to about 3.20 times as of December 31, 2023[25]
蚬壳电业(02381) - 2023 - 年度财报
2024-04-25 08:59
Financial Performance - For the fiscal year 2023, the group's revenue decreased to approximately HKD 232.9 million, down 8.5% from HKD 254.5 million in the previous year[11]. - Gross profit for the fiscal year 2023 was HKD 63.7 million, a decrease of 9.0% compared to HKD 70.0 million in the previous year, resulting in a gross margin of 27.3%[11]. - Profit attributable to owners of the company was HKD 20.8 million, down 7.1% from HKD 22.4 million in the previous year[4]. - Profit before tax decreased to HKD 24,479,000 in 2023 from HKD 29,184,000 in 2022, representing a decline of 16.5%[188]. - Net profit attributable to owners of the company for 2023 was HKD 20,773,000, compared to HKD 22,370,000 in 2022, a decrease of 7.1%[188]. - Basic and diluted earnings per share for 2023 were HKD 1.039, down from HKD 1.119 in 2022, a decline of 7.1%[188]. - Other income increased to HKD 7,201,000 in 2023 from HKD 4,128,000 in 2022, an increase of 74.8%[188]. - Administrative and other operating expenses increased to HKD 44,986,000 in 2023 from HKD 42,458,000 in 2022, an increase of 5.7%[188]. - The company reported a profit of HKD 20,773,000 for the year, down from HKD 22,370,000 in the previous year, reflecting a decrease of about 6.7%[193]. - The company paid dividends totaling HKD 30,000,000 in 2023, compared to HKD 46,000,000 in 2022, a decrease of about 34.8%[195]. Cash Flow and Assets - The group maintained a cash and bank balance of approximately HKD 82.2 million as of December 31, 2023, compared to HKD 89.3 million in the previous year[13]. - Cash and cash equivalents at year-end decreased from HKD 89,297,000 in 2022 to HKD 82,158,000 in 2023, a reduction of approximately 8%[195]. - Total assets decreased from HKD 172,428,000 in 2022 to HKD 169,214,000 in 2023, a decline of approximately 1.3%[190]. - The company’s total equity decreased from HKD 138,720,000 in 2022 to HKD 129,261,000 in 2023, a decline of about 6.8%[193]. - The company’s retained earnings at the end of 2023 were HKD 49,484,000, down from HKD 50,814,000 in 2022, a decrease of about 2.6%[193]. Operational Challenges - The group faced challenges due to global uncertainties and currency fluctuations, leading to cautious customer purchasing behavior[7]. - Future outlook for 2024 remains challenging, with plans to expand new customer bases to achieve stable returns[10]. Employee and Management - As of December 31, 2023, the total number of employees in the group was 112, an increase from 106 in 2022[20]. - The management regularly reviews employee compensation and benefits based on market practices and individual performance[20]. - The management team has extensive experience in the industry, with key members having over 40 years of experience in export and manufacturing sectors[35][39][41]. Corporate Governance - The company has maintained a high standard of corporate governance since its listing on June 2, 2020, on the Hong Kong Stock Exchange[43]. - The company emphasizes the importance of good corporate governance practices for effective operations and sustainable development, aiming to protect and enhance shareholder interests[43]. - The board includes independent non-executive directors with diverse backgrounds and expertise, enhancing the company's strategic decision-making[34][37][38]. - The company has adopted the Corporate Governance Code as its standard governance guideline, ensuring compliance with applicable rules as of December 31, 2023[44]. - The board has confirmed the effectiveness of its corporate governance policies and has reviewed compliance with these policies throughout the year[50]. Risk Management - The company has implemented a risk management and internal control system to protect shareholder investments and group assets, which is reviewed annually by the board[94]. - The risk management system includes identifying significant risks, assessing risk levels, and monitoring the effectiveness of control procedures[95]. - The company has adopted an anti-corruption policy to limit employees from receiving benefits and a whistleblowing policy for reporting concerns about misconduct[98]. Shareholder Information - The company has established various channels for communication with shareholders, including printed communications and timely updates on the company website[91]. - The board has reviewed the effectiveness of the shareholder communication policy, finding it effective in maintaining timely and transparent communication with shareholders[91]. - The company has a significant ownership structure, with Mr. Ong holding 80.5% of the shares through Red Dynasty Investments Limited[32]. - Major shareholders include Shell Holdings with 1,500,000,000 shares (75.00%), Red Dynasty, and Mr. Wong, all holding the same percentage[131]. Future Plans and Investments - The revised allocation of the unutilized proceeds includes approximately HKD 34.0 million for improving efficiency, expanding manufacturing capacity, and investing in new products[22]. - The company has a strategic focus on improving operational efficiency and expanding its manufacturing capabilities[22]. - The company has been actively involved in property investment and development in both Hong Kong and the United States[33]. Compliance and Legal - The company has complied with all relevant laws and regulations in all material respects for the year ending December 31, 2023, without any significant adverse impact on its business or financial condition[167]. - The company has complied with the disclosure requirements for related party transactions as per the listing rules[163].
蚬壳电业(02381) - 2023 - 年度业绩
2024-03-25 14:36
Financial Performance - For the year ended December 31, 2023, the company's revenue was HKD 232,920,000, a decrease of 8.5% from HKD 254,489,000 in 2022[4] - Gross profit for the year was HKD 63,692,000, down 8.5% from HKD 69,960,000 in the previous year[4] - The company's net profit attributable to shareholders was HKD 20,773,000, a decline of 7.1% compared to HKD 22,370,000 in 2022[4] - Basic and diluted earnings per share were HKD 1.039, down from HKD 1.119 in the previous year, representing a decrease of 7.1%[4] - The pre-tax profit for 2023 was HKD 3,706,000, down from HKD 6,814,000 in 2022, reflecting a decline of approximately 45.5%[23] - The group’s income tax expense for 2023 included HKD 3,513,000 in Hong Kong profits tax, compared to HKD 4,822,000 in 2022, indicating a reduction of 27.2%[23] - The group’s gross profit for the fiscal year ending December 31, 2023, was HKD 63.7 million, down HKD 6.3 million from HKD 70.0 million in the previous year, resulting in a gross margin of 27.3%, a decrease of 0.2 percentage points from 27.5%[38] - The profit attributable to the company's owners for the fiscal year ending December 31, 2023, was HKD 20.8 million, a decrease of HKD 1.6 million or 7.1% from HKD 22.4 million in the previous year[38] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 172,428,000, an increase from HKD 169,214,000 in 2022[6] - Current liabilities increased to HKD 53,803,000 from HKD 43,496,000, reflecting a rise of 23.6%[6] - The company’s total equity decreased to HKD 129,261,000 from HKD 138,720,000, a decline of 6.4%[6] - Trade receivables increased to HKD 62.7 million in 2023 from HKD 47.8 million in 2022, with a net trade receivables amount of HKD 62.4 million after impairment provisions[30] - Trade payables rose significantly to HKD 22.5 million in 2023 from HKD 9.8 million in 2022, indicating increased operational liabilities[31] - The current ratio as of December 31, 2023, was approximately 3.20 times, down from 3.89 times in 2022, indicating a decrease in liquidity[40] - The group maintained a debt ratio of zero as of December 31, 2023, due to a net cash balance at year-end[42] Cash Flow and Dividends - The company proposed a final dividend of HKD 0.005 per ordinary share for 2023, totaling HKD 10 million, down from HKD 20 million in 2022[27] - The company proposed a final dividend of HKD 0.5 per share for the year ended December 31, 2023, compared to HKD 1.0 per share in 2022[61] - The proposed final dividend will be paid on July 17, 2024, to shareholders listed on June 25, 2024[63] - Share registration will be suspended from June 21, 2024, to June 25, 2024, to determine eligibility for the proposed final dividend[63] Operational Highlights - The company reported other income of HKD 7,201,000, an increase of 74.8% from HKD 4,128,000 in the previous year[4] - The group’s employee benefits expenses, including director remuneration, totaled HKD 34,097,000 in 2023, slightly up from HKD 33,112,000 in 2022, representing an increase of 3%[22] - The group’s depreciation of property, plant, and equipment was HKD 2,053,000 in 2023, compared to HKD 2,047,000 in 2022, showing a marginal increase[22] - The group faced price competition in the Middle East market, impacting sales and gross profit in the fan business segment[36] - The company has not disclosed any new product developments or market expansion strategies in the current report[2] - There were no significant investments or acquisitions during the year ended December 31, 2023[45] Employee and Capital Management - The total number of employees as of December 31, 2023, was 112, an increase from 106 in 2022[46] - Capital expenditure for the year ended December 31, 2023, was HKD 5.4 million, a decrease from HKD 6.3 million in 2022[43] - Total capital commitments as of December 31, 2023, amounted to approximately HKD 0.6 million, down from HKD 1.1 million in 2022[43] - The net proceeds from the share issuance were approximately HKD 42.5 million, with a reallocation of unused funds amounting to HKD 34.0 million for efficiency improvements, manufacturing capacity expansion, and new product development[48] Governance and Compliance - The audit committee reviewed the annual performance and financial statements for the year ended December 31, 2023, with no disagreements noted[57] - The company had no contingent liabilities as of December 31, 2023[44] - There were no assets pledged as collateral for borrowings as of December 31, 2023[47] - The company has not bought, sold, or redeemed any of its listed securities during the year ended December 31, 2023[53] - The company's annual general meeting will be held on June 14, 2024, at 10:30 AM in Hong Kong[65] - Share registration will also be suspended from June 7, 2024, to June 14, 2024, for the upcoming annual general meeting[62]
蚬壳电业(02381) - 2023 - 中期财报
2023-09-22 08:42
Financial Performance - The company's revenue for the six months ended June 30, 2023, was HKD 118,853,000, a decrease of 27% compared to HKD 162,662,000 for the same period in 2022[5] - Gross profit for the same period was HKD 33,268,000, down 23.5% from HKD 43,492,000 year-on-year[5] - Profit attributable to owners of the company for the six months was HKD 13,014,000, a decline of 47.3% from HKD 24,704,000 in the previous year[5] - The company reported a pre-tax profit of HKD 15,898,000 for the six months ended June 30, 2023, a decrease of 48.6% compared to HKD 30,872,000 in the same period last year[12] - Total income tax expense for the period was HKD 2,884,000, down from HKD 6,168,000 in the previous year, a reduction of 53.3%[31] - The group's gross profit for the same period was HKD 33.3 million, down HKD 10.2 million from HKD 43.5 million in the previous year, resulting in a gross margin of 28.0%, an increase of 1.3 percentage points from 26.7%[60] - Profit attributable to owners of the company for the six months ended June 30, 2023, was HKD 13.0 million, a decrease of approximately HKD 11.7 million or 47.3% from HKD 24.7 million in the same period last year[60] Assets and Liabilities - The company's total assets as of June 30, 2023, were HKD 186,312,000, an increase of 10.1% from HKD 169,214,000 at the end of 2022[8] - Current liabilities increased to HKD 45,167,000 from HKD 43,496,000, reflecting a rise of 3.8%[8] - The company's cash and bank balances were HKD 86,255,000, slightly down from HKD 89,297,000 at the end of 2022[8] - Trade receivables increased to HKD 69,955,000 as of June 30, 2023, compared to HKD 47,822,000 as of December 31, 2022, representing a growth of 46.3%[37] - Total liabilities, including trade and other payables, reached HKD 39,745,000, compared to HKD 36,075,000, marking an increase of 7.4%[39] Cash Flow - Operating cash flow generated was HKD 1,423,000, down from HKD 7,155,000, indicating a significant decline in cash generation capabilities[12] - The net cash used in investing activities was HKD 153,000, an improvement from a net cash outflow of HKD 651,000 in the previous year[12] - The company experienced a net cash outflow of HKD 2,986,000 from financing activities, compared to a net cash outflow of HKD 2,714,000 in the prior period[12] - Cash and cash equivalents at the end of the period stood at HKD 86,255,000, down from HKD 93,672,000 at the end of the previous year[12] Dividends and Shareholder Returns - The company has allocated HKD 20,000,000 for dividends, maintaining its commitment to shareholder returns despite the decline in profits[9] - The company declared an interim dividend of HKD 0.005 per share, totaling approximately HKD 10,000,000, compared to HKD 0.02 per share in the previous year[32] - The interim dividend declared is HKD 0.005 per share for the six months ended June 30, 2023, compared to HKD 0.02 per share for the same period last year[77] Market and Strategic Outlook - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[4] - The group faced weak global market demand due to slow economic recovery and interest rate hikes in the US, impacting the sales of electric tools and fans[59] - The outlook for 2024 remains uncertain, and the group will maintain a cautious approach to new investments[59] Corporate Governance - The company has maintained compliance with the corporate governance code as per the listing rules for the six months ending June 30, 2023[89] - The audit committee reviewed the interim performance and financial information for the six months ending June 30, 2023, with no disagreements noted[93] - All directors confirmed compliance with the standard code of conduct regarding securities trading for the six months ending June 30, 2023[92] - The board will continue to review and monitor the company's corporate governance practices to maintain high standards[90] Employee and Operational Metrics - Employee benefits expenses increased to HKD 15,597,000 from HKD 14,541,000, an increase of 7.3%[27] - The total number of employees as of June 30, 2023, was 109, an increase from 106 on December 31, 2022[70] Segment Information - The company has identified two operating segments: SMC, which focuses on developing and selling its own brand of fans, and non-SMC, which involves developing and manufacturing tools and fans for customers' brands[18] - Total reported segment revenue for the six months ended June 30, 2023, was HKD 118,853,000, a decrease of 27% from HKD 162,662,000 in the same period of 2022[25] - The reported segment profit for the same period was HKD 33,268,000, down 23.5% from HKD 43,492,000 in the previous year[24] - Sales of fans decreased to HKD 57,063,000 from HKD 68,571,000, representing a decline of 16.7%[25] - Sales of vacuum cleaners dropped to HKD 49,250,000 from HKD 67,792,000, a decrease of 27.3%[25] Use of Proceeds - The net proceeds from the share issuance amount to approximately HKD 42.5 million after deducting underwriting fees and related expenses[73] - The board has decided to reallocate approximately HKD 34.0 million of the unused proceeds for improving efficiency, expanding manufacturing capacity, and investing in new products[73] - As of June 30, 2023, the actual usage of the proceeds for improving efficiency was HKD 6.3 million, with HKD 3.2 million reallocated and HKD 2.8 million remaining unused[74] - For expanding manufacturing capacity, HKD 25.9 million was allocated, with HKD 4.0 million used and HKD 21.5 million remaining[74] - The unused proceeds are expected to be utilized by December 31, 2024[74] Shareholding Structure - As of June 30, 2023, Mr. Wong holds a 75.00% stake in the company through Red Dynasty Investments Limited, which owns 80.5% of the company[81] - Major shareholders include Shell Holdings with a 75.00% stake and Hong Kong Construction (Hong Kong) Engineering Limited with a 9.00% stake[84] - The ownership structure indicates that Mr. Wong holds 80.5% of the company through Red Dynasty[91]
蚬壳电业(02381) - 2023 - 中期业绩
2023-08-25 11:03
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責,對其準確性或完整性亦不發表任何聲明,並明確表示概不就因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 (於開曼群島註冊成立之有限公司) (股份代號:2381) 截至二零二三年六月三十日止六個月的中期業績公告 未經審核中期業績 蜆壳電業有限公司(「本公司」)董事(「董事」)會(「董事會」)謹此公佈本公司及其附 屬公司(統稱「本集團」)截至二零二三年六月三十日止六個月之未經審核簡明綜 合中期業績,連同截至二零二二年六月三十日止六個月之未經審核比較數字及 截至二零二二年十二月三十一日止上一個經審核財政年度年末的若干比較數字。 本集團截至二零二三年六月三十日止六個月的簡明綜合全面收益表及本集團於 二零二三年六月三十日的簡明綜合財務狀況表連同經選定說明附註均未經審核, 惟已經本公司審核委員會審閱。 ...
蚬壳电业(02381) - 2022 - 年度财报
2023-04-25 08:40
Financial Performance - For the fiscal year ending December 31, 2022, the company's revenue increased to approximately HKD 254.5 million, a rise of 10.5% compared to HKD 230.4 million in the previous year[7][14] - The gross profit for the same period was HKD 70.0 million, reflecting a 13.1% increase from HKD 61.9 million, with a gross margin of 27.5%, up 0.6 percentage points from 26.9%[7][14] - The profit attributable to the company's owners decreased to HKD 22.4 million, down 20.8% from HKD 28.3 million in the previous fiscal year, primarily due to increased administrative and operational expenses[7][14] - Total revenue for the year ended December 31, 2022, was HKD 254,489,000, representing an increase of 10.4% from HKD 230,443,000 in 2021[186] - Gross profit for 2022 was HKD 69,960,000, up 12.5% from HKD 61,893,000 in the previous year[186] - The net profit attributable to the owners of the company for 2022 was HKD 22,370,000, a decrease of 21.1% compared to HKD 28,319,000 in 2021[186] - Basic and diluted earnings per share for 2022 were HKD 1.119, down from HKD 1.416 in 2021[186] - The company experienced a foreign exchange loss of HKD 2,045,000 in 2022, contrasting with a gain of HKD 672,000 in 2021[186] - The company’s administrative and other operating expenses increased to HKD 42,458,000 in 2022 from HKD 27,118,000 in 2021, reflecting higher operational costs[186] Liquidity and Financial Position - The company maintained a current ratio of approximately 3.89 times as of December 31, 2022, compared to 3.53 times in the previous year, indicating strong liquidity[16][17] - The company had a cash and bank balance of approximately HKD 89.3 million as of December 31, 2022, slightly down from HKD 90.9 million in the previous year[16] - Total assets as of December 31, 2022, were HKD 169,214,000, a decrease from HKD 211,202,000 in 2021[188] - Current liabilities decreased to HKD 43,496,000 in 2022 from HKD 59,818,000 in 2021, indicating improved liquidity[188] - The company reported a total equity of HKD 138,720,000 as of December 31, 2022, down from HKD 164,395,000 in the previous year[188] Investments and Capital Expenditures - Capital expenditures for the year amounted to HKD 6.3 million, an increase from HKD 4.2 million in the previous year, reflecting ongoing investments in property, plant, and equipment[20] - The company plans to invest in new products in the upcoming fiscal year 2023, aiming for stable returns[8][13] - There were no major investments or acquisitions during the fiscal year ending December 31, 2022[23] Shareholder Returns - The company reported a proposed final dividend of HKD 0.01 per ordinary share for the year ended December 31, 2022, compared to HKD 0.003 in 2021[118] - The company plans to propose a final dividend of HKD 20,000,000 for 2022, compared to HKD 6,000,000 proposed for 2021[191] - The company paid dividends amounting to HKD 46,000,000, significantly higher than HKD 8,000,000 in the previous year, indicating a strategic shift towards returning value to shareholders[193] Corporate Governance - The company has adopted the Corporate Governance Code as its governance framework, ensuring compliance with applicable rules and principles[44] - The board of directors is responsible for the overall leadership and strategic decision-making of the group, with three committees established for oversight[47] - The independent non-executive directors provide independent judgment on the group's strategy, performance, resources, and ethical standards[39] - The company emphasizes high ethical standards and sustainable development as core elements of its corporate culture[45] - The management team has extensive experience in the electrical tools manufacturing industry, with key personnel having over 20 years of relevant experience[42] - The company has a strong commitment to corporate governance, regularly reviewing and enhancing its governance measures[44] - The board has confirmed compliance with the standard code of conduct for securities trading throughout the year[46] Risk Management - The risk management system includes identifying significant risks, assessing risk levels, and implementing strategies to mitigate those risks[94] - The company has a commitment to maintaining effective risk management and internal control systems to protect shareholder investments and group assets[93] - The audit committee assists the board in regularly reviewing the effectiveness of the implemented systems and procedures related to financial, operational, and compliance controls[93] - The board believes that the internal control and risk management systems of the group are adequate and effective, with ongoing monitoring and remedial measures as necessary[99] Employee and Board Diversity - The gender ratio among employees is 1.79 females to 1 male, reflecting the company's commitment to diversity in hiring practices[52] - The company has adopted a board diversity policy, emphasizing the importance of diverse backgrounds, including gender and age, in maintaining competitive advantage[73] - The company is committed to providing career development and training programs for female employees to prepare them for future leadership roles[73] Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements present a true and fair view of the group's financial position as of December 31, 2022[170] - The audit identified the assessment of expected credit losses for trade receivables as a key audit matter due to its significance to the overall financial statements and the subjective nature of the estimates involved[173] - The audit committee reviewed the independence and effectiveness of external auditors, ensuring compliance with applicable standards[63] Business Operations - The group primarily engages in the manufacturing and sale of power tools and the procurement and sale of fans, with no significant changes in business nature during the year[102] - The company operates primarily in the manufacturing and sale of power tools and the procurement and sale of fans, with a focus on expanding its market presence in these sectors[195]
蚬壳电业(02381) - 2022 - 年度业绩
2023-03-30 12:01
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責,對其準 確性或完整性亦不發表任何聲明,並明確表示概不就因本公告全部或任何部分內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 (於開曼群島註冊成立之有限公司) (股份代號:2381) 截至二零二二年十二月三十一日止年度的 年度業績公告 年度業績 蜆壳電業有限公司(「本公司」)董事(「董事」)會(「董事會」)謹此公佈本公司及其附屬公司(統 稱「本集團」)截至二零二二年十二月三十一日止年度之經審核綜合年度業績。 ...
蚬壳电业(02381) - 2022 - 中期财报
2022-09-21 08:32
Financial Performance - The company reported revenue of HKD 162,662,000 for the six months ended June 30, 2022, representing a 55.8% increase compared to HKD 104,353,000 for the same period in 2021[7]. - Gross profit for the same period was HKD 43,492,000, with a gross margin of approximately 26.8%[7]. - Profit attributable to owners of the company was HKD 24,704,000, which is a 95.5% increase from HKD 12,659,000 in the previous year[7]. - For the six months ended June 30, 2022, the company reported a pre-tax profit of HKD 30,872,000, a significant increase from HKD 15,351,000 for the same period in 2021, representing a growth of 101.5%[24]. - The total revenue for the six months ended June 30, 2022, was HKD 162,662,000, compared to HKD 104,353,000 in the previous year, indicating a year-over-year increase of 55.8%[24]. - Revenue from fan sales increased to HKD 68,571,000, up 18.5% from HKD 57,927,000 in the previous year[28]. - Vacuum cleaner sales rose to HKD 67,792,000, a significant increase of 102.1% compared to HKD 33,496,000 last year[28]. - Work light sales reached HKD 25,983,000, up 100.5% from HKD 12,930,000 in the prior year[28]. - Total sales for electric tools and fans amounted to HKD 162,662,000, representing a 55.8% increase from HKD 104,353,000 in the previous year[28]. - Pre-tax profit before tax expenses was HKD 119,170,000, compared to HKD 76,540,000 in the previous year, reflecting a growth of 55.7%[32]. - The company reported a net profit attributable to shareholders of HKD 24,704,000, which is an increase of 95.5% from HKD 12,659,000 in the previous year[41]. Assets and Liabilities - The company’s total assets as of June 30, 2022, were HKD 233,999,000, up from HKD 211,202,000 at the end of 2021[9]. - The net current assets increased to HKD 177,238,000 from HKD 151,384,000, indicating improved liquidity[9]. - The total equity of the company increased to HKD 187,743,000 as of June 30, 2022, from HKD 164,395,000 at the end of 2021[9]. - Trade receivables net of impairment provisions increased to HKD 93,006,000 from HKD 71,881,000, indicating a growth of 29.4%[46]. - Total liabilities decreased to HKD 48,688,000 from HKD 53,721,000, showing a reduction of 9.4%[50]. - The current ratio as of June 30, 2022, was approximately 4.12 times, an increase from approximately 3.53 times as of December 31, 2021[72]. - The company has no external debt, with a debt ratio of zero as of June 30, 2022, due to a net cash balance[76]. Cash Flow and Investments - The net cash generated from operating activities for the six months ended June 30, 2022, was HKD 5,195,000, a decrease from HKD 33,988,000 in the same period of 2021[14]. - The company’s cash and cash equivalents at the end of the reporting period were HKD 93,672,000, down from HKD 107,432,000 at the end of June 2021[14]. - The company incurred a net cash outflow from investing activities of HKD 651,000, compared to HKD 2,301,000 in the same period last year, reflecting a reduction in investment expenditures[14]. - The financing activities resulted in a net cash outflow of HKD 1,830,000, slightly up from HKD 1,827,000 in the previous year[14]. - Capital expenditures for the six months ended June 30, 2022, amounted to approximately HKD 0.7 million, a decrease from HKD 2.4 million for the same period in 2021[77]. - The company acquired property, plant, and equipment worth approximately HKD 2,387,000, significantly higher than HKD 376,000 in the previous year[45]. - The company has entered into leasing agreements for properties in Shunde, China, and Hong Kong, with total undiscounted rental payments of approximately HKD 1.83 million for the six months ended June 30, 2022[67]. Corporate Governance and Shareholder Information - The company has complied with the corporate governance code as per the listing rules during the six months ending June 30, 2022[107]. - The audit committee, consisting of two independent non-executive directors and one non-executive director, reviewed the interim results and financial information for the six months ending June 30, 2022, with no disagreements noted[111]. - The company is committed to maintaining high standards of corporate governance practices[108]. - The major shareholder, Mr. Wong, holds a 75.0% interest in the company through Red Dynasty Investments Limited[96]. - The major shareholder, Mr. Ong, holds 1,500,000,000 shares, representing 75.0% of the total equity in Shell Electric Holdings[1]. - Hong Kong Construction (Hong Kong) Engineering Company Limited holds 180,090,000 shares, accounting for 9.0% of the total equity[1]. - The company has adopted a share option scheme approved by shareholders on April 29, 2020, but no options have been granted since its adoption[104][105]. - There were no known interests in the company's shares or related shares by any other individuals as of June 30, 2022[103]. - The company has established a code of conduct for securities trading, which has been adhered to by all directors during the review period[110]. Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[6]. - The company expects to continue leveraging its operational strengths to enhance market presence and explore potential new product developments in the upcoming periods[20]. - The company plans to ensure prudent investment of resources to maintain competitiveness amid ongoing market recovery efforts[70]. - The company plans to utilize the unspent proceeds based on its best estimates of future market conditions, which may change[90].
蚬壳电业(02381) - 2021 - 年度财报
2022-04-26 08:42
Financial Performance - For the fiscal year ending December 31, 2021, the group's revenue was approximately HKD 230.4 million, a decrease of 7.6% compared to HKD 249.4 million in the previous year[20]. - The gross profit for the same period was HKD 61.9 million, down 18.8% from HKD 76.2 million, resulting in a gross margin of 26.9%, which is a decline of 3.7 percentage points year-over-year[20]. - The profit attributable to shareholders was HKD 28.3 million, representing a decrease of 22.3% from HKD 36.4 million in the previous fiscal year[20]. - The company reported a significant increase in revenue, achieving a total of HKD 1.2 billion for the fiscal year, representing a 15% year-over-year growth[45]. - The company has provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[45]. Challenges and Expectations - The group faced challenges due to the COVID-19 pandemic, including rising raw material prices and shipping costs, which impacted business operations[19]. - The group expects a more significant economic recovery in 2022, with improvements in supply logistics and demand for fans and power tools[19]. Financial Position and Liquidity - As of December 31, 2021, the group's cash and bank balances totaled approximately HKD 90.9 million, an increase from HKD 77.5 million in the previous year[22]. - The current ratio as of December 31, 2021, was approximately 3.53 times, consistent with the previous year[23]. - The group maintains a prudent financial policy and a solid financial position to support future business development[22]. - As of December 31, 2021, the group's debt ratio was zero, maintaining a cash surplus at year-end[25]. - The group continues to explore various avenues to mitigate risks and enhance liquidity in response to ongoing challenges[19]. Capital Expenditures and Commitments - Capital expenditures for the year ended December 31, 2021, amounted to HKD 4.2 million, an increase from HKD 2.9 million in 2020[26]. - Total capital commitments as of December 31, 2021, were approximately HKD 1.3 million, down from HKD 2.8 million in 2020[26]. Corporate Governance - The board has adopted new corporate governance measures to ensure compliance with updated regulations, enhancing shareholder protection[53]. - The company has maintained a strong commitment to corporate governance, adhering to all applicable codes and principles as of December 31, 2021[53]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, complying with listing rules regarding independent directors[58]. - The audit committee includes one non-executive director and two independent non-executive directors, ensuring the objectivity and credibility of financial reporting[68]. - The company has established a risk management and internal control system to protect shareholder investments and group assets, which is reviewed annually by the board[104]. Employee and Management Information - As of December 31, 2021, the total number of employees was 132, a decrease from 140 in 2020[33]. - The management team has extensive experience, with key executives averaging over 15 years in the industry, ensuring effective leadership[45]. - The company has a succession planning policy to ensure leadership continuity for key positions, focusing on talent assessment and development[87]. Shareholder Information - Major shareholders include Shell Holdings with 1,500,000,000 shares (75.00%), Red Dynasty (75.00%), and Mr. Wong (75.00%) as of December 31, 2021[146]. - The company has a share option scheme approved on April 29, 2020, aimed at incentivizing selected participants for their contributions[149]. - The total number of shares that can be issued upon the exercise of all share options shall not exceed 10% of the total number of shares issued at the time of the company's initial listing, which is 200,000,000 shares[156]. Risk Management - The company has established a formal and transparent process for determining the remuneration of executive directors and all directors[76]. - The audit committee assists the board in reviewing the effectiveness of financial, operational, and compliance controls, as well as risk management functions[106]. - The company has implemented management controls to ensure timely identification and reporting of potential inside information[110]. Corporate Social Responsibility - The company is committed to corporate social responsibility in community affairs, environmental protection, and corporate governance to achieve sustainable development[123].
蚬壳电业(02381) - 2021 - 中期财报
2021-09-23 08:45
Financial Performance - The company reported total comprehensive income attributable to owners of HKD 12,906,000 for the six months ended June 30, 2021, compared to HKD 14,373,000 for the same period in 2020, representing a decrease of approximately 10.3%[8]. - Revenue for the six months ended June 30, 2021, was HKD 104,353,000, down from HKD 116,620,000 in the same period of 2020, indicating a decline of about 10.5%[8]. - Gross profit for the period was HKD 27,813,000, compared to HKD 36,447,000 in the previous year, reflecting a decrease of approximately 23.8%[8]. - The company's basic and diluted earnings per share were HKD 0.633 for the six months ended June 30, 2021, down from HKD 0.828 in the same period of 2020, a decline of about 23.6%[8]. - The company’s operating profit before tax for the six months ended June 30, 2021, was HKD 15,351,000, down from HKD 19,035,000 in the same period of 2020, indicating a decline of about 19.5%[17]. - The profit attributable to the owners of the company was HKD 12.6 million, a decrease of HKD 2.0 million or 13.6% from HKD 14.6 million in the same period of 2020[74]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 192,838,000, an increase from HKD 186,066,000 as of December 31, 2020, representing a growth of approximately 3.9%[10]. - The company's net current assets increased to HKD 144,506,000 as of June 30, 2021, compared to HKD 133,379,000 at the end of 2020, indicating an increase of about 8.4%[10]. - Non-current liabilities, specifically lease liabilities, decreased to HKD 1,819,000 as of June 30, 2021, from HKD 3,614,000 at the end of 2020, a reduction of approximately 49.7%[10]. - The company’s total liabilities decreased to HKD 41,961,000 as of June 30, 2021, from HKD 47,616,000 as of December 31, 2020[53]. Equity and Retained Earnings - The company's total equity increased to HKD 156,310,000 as of June 30, 2021, compared to HKD 143,404,000 at the end of 2020, reflecting an increase of about 8.9%[10]. - The company reported a total equity of HKD 156,310,000 as of June 30, 2021, compared to HKD 120,173,000 as of June 30, 2020, representing an increase of approximately 30.0%[14]. - The company’s retained earnings as of June 30, 2021, were HKD 78,784,000, compared to HKD 52,426,000 as of June 30, 2020, reflecting an increase of approximately 50.0%[14]. - The company’s retained earnings reflect cumulative profits and losses, with proposed final dividends deducted from retained earnings[65]. Cash Flow and Financing - Cash generated from operating activities for the six months ended June 30, 2021, was HKD 33,988,000, significantly up from HKD 7,220,000 in the same period of 2020, indicating a substantial increase[17]. - The net cash increase for cash and cash equivalents at the end of the period was HKD 29,860,000, compared to HKD 54,801,000 in the previous year, showing a decrease of approximately 45.5%[17]. - The company’s cash flow from financing activities for the six months ended June 30, 2021, was a net outflow of HKD 1,827,000, compared to a net inflow of HKD 47,732,000 in the same period of 2020[17]. - The net proceeds from the share issuance amounted to approximately HKD 42.5 million, with HKD 4.1 million utilized as of June 30, 2021[89]. Segment Performance - Total reported segment revenue for the six months ended June 30, 2021, was HKD 104,353,000, a decrease of 10.5% from HKD 116,620,000 in the same period of 2020[28]. - Segment profit for the same period was HKD 27,813,000, down 23.7% from HKD 36,447,000 year-over-year[28]. - Revenue from fan sales was HKD 57,927,000, an increase of 8.7% compared to HKD 53,585,000 in the previous year[32]. - Vacuum cleaner sales decreased to HKD 33,496,000, down 22.4% from HKD 43,147,000 in the prior year[32]. Corporate Governance and Compliance - The company has maintained compliance with the corporate governance code as per the listing rules[104]. - The company continues to review and monitor its corporate governance practices to maintain high standards[105]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, ensuring compliance by all directors and senior management[107]. - The audit committee, consisting of two independent non-executive directors and one non-executive director, reviewed the interim results for the six months ended June 30, 2021, with no disagreements noted[108]. Future Outlook and Strategy - The company plans to continue focusing on market expansion and new product development to drive future growth[7]. - The group anticipates that the global economic recovery will improve in the fourth quarter of 2021, with a gradual restoration of supply logistics and demand for fans and power tools[73]. - The group plans to enhance risk management, operational cost control, and supply chain flexibility in the upcoming year[73].