Financial Performance - For the six months ended June 30, 2024, the company reported revenue of $107,979,000, an increase of 30.4% compared to $82,810,000 for the same period in 2023[1] - Gross profit for the same period was $17,989,000, up from $16,531,000, reflecting a gross margin improvement[1] - The net profit attributable to shareholders was $1,963,000, slightly down from $2,027,000 in the previous year, indicating a decrease of 3.2%[2] - The company reported a basic and diluted earnings per share of $0.80, unchanged from the previous year[2] - The overall gross profit margin decreased from 20.0% in the first half of 2023 to 16.7% in the first half of 2024, primarily due to the increase in lower-margin trading business[32] - The profit attributable to shareholders for the first half of 2024 was $1.963 million, a decrease of 3.2% from $2.027 million in the first half of 2023[30] Assets and Liabilities - Total assets as of June 30, 2024, were $274,629,000, a decrease from $277,286,000 as of December 31, 2023[3] - Current assets increased to $160,501,000 from $155,033,000, primarily driven by an increase in cash and cash equivalents[3] - The company’s total liabilities increased to $133,730,000 from $124,376,000, with current liabilities rising to $109,388,000[3] - Non-current assets totaled $223,516,000, slightly up from $222,341,000, indicating stability in long-term investments[3] - The company’s net asset value decreased to $250,287,000 from $252,018,000, reflecting a slight decline in equity[4] - Total assets as of June 30, 2024, amounted to $384,017,000, with the biochemical segment accounting for $210,930,000 and the industrial segment for $122,906,000[12] - The group reported a total liability of $133,730,000, with the biochemical segment's liabilities at $46,866,000[12] - Trade receivables as of June 30, 2024, amounted to $67.417 million, an increase from $63.284 million as of December 31, 2023[26] - Trade payables as of June 30, 2024, were $25.305 million, compared to $19.600 million as of December 31, 2023[27] - Net debt decreased from $40.6 million on December 31, 2023, to $28 million on June 30, 2024, with a debt-to-equity ratio improving from 0.16 to 0.11[36] Segment Performance - The biochemical segment generated revenue of $107,979,000 for the six months ended June 30, 2024, compared to $82,810,000 for the same period in 2023, representing a growth of 30.4%[11] - The adjusted profit before tax for the biochemical segment was $4,954,000, while the industrial segment reported a loss of $(973,000), resulting in a total profit of $3,981,000 for the group[11] - The revenue contribution from the company's antibiotic products decreased from 48% in the first half of 2023 to 33% in the first half of 2024, while the contribution from animal health products increased from 52% to 67%[31] - The industrial business segment reported a slight increase of 4.7% in overall excavator market sales in China for the first half of 2024 compared to the same period in 2023[33] - The automotive parts manufacturing segment reported a profit of $1.16 million for the first half of 2024, up from $1.04 million in the same period of 2023[33] Income and Expenses - The group recognized bank interest income of $694,000 for the six months ended June 30, 2024, an increase from $505,000 in the same period of 2023[19] - The group’s total other income for the six months ended June 30, 2024, was $3,307,000, compared to $434,000 in the same period of 2023, showing a substantial increase[19] - The group’s financial costs, net of capitalized interest, were $1,249,000 for the six months ended June 30, 2024, compared to $711,000 in the same period of 2023[20] - The total tax expense for the first half of 2024 was $0.824 million, up from $0.424 million in the first half of 2023[23] Dividends and Outlook - The company did not declare an interim dividend for the first half of 2024, consistent with the first half of 2023[24] - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[41] - The company maintained a cautious outlook for the remainder of 2024, anticipating low fixed asset investment growth and continued intense industry competition[34] Accounting and Standards - The company did not adopt any new accounting standards that would have a significant financial impact during the reporting period[6] - There were no significant contingent liabilities reported as of June 30, 2024[39]

Revenue and Profit - Revenue for the three months ended March 31, 2024, was $54.654 million, an increase of 25.6% compared to $43.501 million for the same period in 2023[3] - Gross profit for the same period was $8.510 million, a decrease of 6.0% from $9.054 million year-over-year[3] - Net profit attributable to shareholders was $0.989 million, down 43.5% from $1.747 million in the previous year[4] - The total comprehensive income for the period was a loss of $1.819 million, compared to a gain of $3.133 million in the prior year[4] Assets and Liabilities - Total assets as of March 31, 2024, were $250.199 million, a slight decrease from $252.018 million at the end of 2023[7] - Current assets increased to $159.167 million from $155.033 million, primarily driven by an increase in cash and cash equivalents[6] - Current liabilities remained stable at $100.368 million compared to $100.088 million in the previous period[6] - The company’s non-current assets totaled $223.062 million, slightly up from $222.341 million[6] - The company’s equity attributable to shareholders was $226.503 million, down from $228.430 million at the end of 2023[7] Comprehensive Income - The company reported a decrease in other comprehensive income, with a loss of $3.269 million compared to a gain of $1.097 million in the previous year[4]

Financial Performance - In 2023, the Group's revenue increased to US$173,979,000, up 9.3% from US$159,239,000 in 2022[18]. - Gross profit decreased to US$33,766,000, down 13.8% from US$39,189,000 in 2022[18]. - Profit attributable to shareholders was US$2,553,000, a significant recovery from a loss of US$6,677,000 in 2022[18]. - Basic and diluted earnings per share improved to 1.01 US cents, compared to a loss of 2.64 US cents in the previous year[18]. - For the year ended December 31, 2023, the Group's revenue increased by 9.3% to US$174.0 million, compared to US$159.2 million in 2022[25]. - Profit attributable to shareholders was US$2.6 million, a turnaround from a loss of US$6.7 million in 2022, primarily due to improved performance in the industrial business[26]. - Basic and diluted earnings per share were both 1.0 US cents, compared to a loss of 2.6 US cents in 2022[27]. Asset and Debt Management - Total assets increased to US$377,374,000, up from US$350,585,000 in 2022[18]. - Total bank borrowings rose to US$78,168,000, compared to US$49,102,000 in 2022, indicating increased leverage[18]. - As of December 31, 2023, the Group's net debt was US$40.6 million, an increase from US$18.2 million as of December 31, 2022, resulting in a debt-to-equity ratio of 0.16 compared to 0.07 in the previous year[45][49]. - The Group's total borrowings increased to US$78.2 million as of December 31, 2023, up from US$49.1 million as of December 31, 2022, with secured borrowings accounting for 27.7% of total borrowings[48][51]. - Cash and cash equivalents rose to US$37.6 million as of December 31, 2023, an increase of US$6.7 million from US$30.8 million as of December 31, 2022[47][50]. Business Segments and Strategy - The animal health business achieved a major milestone, with its revenue exceeding 50% of the Group's biochemical business for the first time in 2023[5]. - The Group is focused on strategic transformation towards becoming a leading biotechnology company, enhancing core competitiveness through R&D investment[4]. - The Group continues to strategically broaden its product portfolio in the animal health segment, deploying additional marketing resources[34]. - Revenue contribution from CTC products decreased from 53% in 2022 to 41% in 2023, while revenue contribution from animal health products increased from 47% to 59%[32]. Market Outlook and Challenges - The Group maintains a cautious outlook for 2024 due to economic uncertainties but aims to capitalize on market opportunities as conditions normalize[11]. - The Group remains cautious about its performance in 2024 due to uncertainties in the biochemical business and intense competition in the industrial sector[40]. Corporate Governance and Board Activities - The company held one annual general meeting, one special general meeting, seven Board meetings, six Audit Committee meetings, one Remuneration Committee meeting, one Nomination Committee meeting, and two Corporate Governance Committee meetings in 2023[82]. - Directors confirmed their responsibility for preparing financial statements that reflect the financial position, performance, and cash flows of the Group in accordance with International Financial Reporting Standards[93]. - The company emphasizes the importance of accountability and audit in its governance practices[96]. - The Board's commitment to corporate governance is reflected in its structured meeting schedule and training initiatives for directors[87]. - The Audit Committee held six meetings in 2023, reviewing the annual results for the year ended December 31, 2022, and recommending the Board to approve the related financial information[120]. Risk Management and Internal Controls - The Board conducted an annual review of the effectiveness of the Group's risk management and internal control systems in 2023, finding them effective and adequate[196]. - No significant control failings or weaknesses were identified in 2023, indicating the Company's ability to respond adequately to changes in its business and external environment[196]. - The Group has established a Risk Management Policy to manage risks associated with achieving business objectives[192]. - The Audit Committee is responsible for reviewing the effectiveness of the Group's risk management and internal control systems[193]. Diversity and Inclusion - The Board Diversity Policy aims to achieve a diverse Board, considering factors such as gender, age, and professional experience, with an annual review of its effectiveness[154]. - The Board set a target to appoint at least one female Director by December 31, 2024, which was achieved on February 23, 2024, with the appointment of Ms. Cheung Marn Kay[160]. - The Company plans to increase the percentage of female employees from 27% to 30% within five years, by December 2027, to enhance gender diversity in the workforce[165]. - The Company emphasizes the importance of diversity in its Board composition, considering factors like gender, age, and professional experience[173].

Financial Performance - Total revenue for the year ended December 31, 2023, was $173.979 million, an increase of 9.3% from $159.239 million in 2022[3] - Gross profit decreased to $33.766 million, down 13.5% from $39.189 million in the previous year[3] - The net profit attributable to shareholders was $2.553 million, compared to a loss of $6.677 million in 2022[4] - Basic and diluted earnings per share for the year were $1.01, a significant improvement from a loss of $2.64 per share in 2022[4] - The group reported a total comprehensive loss of $3.734 million for the year, compared to a loss of $21.737 million in 2022[4] - The group's adjusted pre-tax profit for the year ended December 31, 2023, was $2.943 million, compared to a pre-tax loss of $2.749 million in 2022, indicating a significant turnaround[18][28]. - The profit attributable to shareholders was $2.6 million in 2023, a turnaround from a loss of $6.7 million in 2022, mainly due to improved performance in the industrial business[43] Assets and Liabilities - Total assets as of December 31, 2023, were $277.286 million, slightly up from $273.271 million in 2022[6] - Current assets increased to $155.033 million from $129.322 million, reflecting a growth of 19.9%[6] - The company's non-current liabilities increased to $25.268 million from $17.519 million, reflecting a rise of 44.3%[8] - The net asset value decreased to $252.018 million from $255.752 million, a decline of 1.1% year-over-year[8] - Total assets as of December 31, 2023, amounted to $377.374 million, up from $350.585 million in 2022, reflecting an increase of approximately 7.6%[20][24]. - The total liabilities as of December 31, 2023, were $125.356 million, compared to $94.833 million in 2022, representing an increase of approximately 32.2%[20][24]. - Net debt rose from $18.2 million in 2022 to $40.6 million in 2023, with a debt-to-equity ratio increasing from 0.07 to 0.16[50] - Total borrowings increased from $49.1 million in 2022 to $78.2 million in 2023, with 27.7% of borrowings requiring asset collateral[53] Cash Flow and Liquidity - Cash and cash equivalents rose to $37.606 million, up from $30.859 million in the previous year, indicating improved liquidity[6] - Cash and cash equivalents increased by $6.7 million, from $30.8 million in 2022 to $37.6 million in 2023[52] Revenue Breakdown - Biochemical business revenue for the year ended December 31, 2023, was $173.979 million, an increase from $159.239 million in 2022, representing a growth of approximately 9.9%[18][22]. - The revenue from external customers in mainland China for the year ended December 31, 2023, was $107.950 million, up from $83.294 million in 2022, reflecting an increase of approximately 29.7%[24]. - The revenue contribution from the main product decreased from 53% in 2022 to 41% in 2023, while the revenue contribution from animal health products increased from 47% to 59%[46] Expenses and Profitability - The overall gross margin decreased from 24.6% in 2022 to 19.4% in 2023, primarily due to a decline in the price of the main product and an increase in lower-margin trading business[43] - The average selling price of the main product decreased by 11% in 2023 compared to 2022[46] - The group's depreciation and amortization expenses for the year ended December 31, 2023, were $6.391 million, slightly down from $6.925 million in 2022[18][22]. Dividends - The group did not declare a final dividend for the year ended December 31, 2023, consistent with the previous year[31]. - The board of directors decided not to declare a dividend for the year ended December 31, 2023[43] - The board decided not to declare any dividends for the year ending December 31, 2023, consistent with 2022[56] Market Conditions - The industrial business reported a significant decline in the excavator market, with overall sales dropping by 40.8% in 2023 compared to 2022[47] - The automotive parts manufacturing segment maintained stable profits of $2.1 million for both 2023 and 2022, despite a 12.0% increase in car sales and an 8.8% decrease in motorcycle sales in China[47] - The company maintains a cautious outlook for 2024, anticipating low fixed asset investment growth and continued intense competition in the industrial sector[48] Joint Ventures - The group's share of profits from joint ventures was $4.816 million in 2023, compared to a loss of $9.006 million in 2022, indicating a significant improvement[18][22]. - The share of profits from joint ventures improved from a loss of $9 million in 2022 to a profit of $4.8 million in 2023[47] Credit Risk and Receivables - The company has no significant concentration of credit risk according to management's opinion[36] - Trade receivables aged 60 days or less increased to $35.3 million in 2023 from $18.1 million in 2022[36] - Trade payables aged 60 days or less increased to $22.2 million in 2023 from $15.5 million in 2022[37] Capital Expenditure - The group reported a capital expenditure of $11.112 million for the year ended December 31, 2023, down from $15.771 million in 2022, indicating a reduction of about 29.5%[18][22].

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的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 CHIA TAI ENTERPRISES INTERNATIONAL LIMITED 正大企業國際有限公司 （於百慕達註冊成立之成員有限責任公司） （股份代號：3839） 截至二零二三年九月三十日止九個月之未經審核業績 未經審核綜合業績 正大企業國際有限公司 (「本公司」) 董事會 (「董事會」) 欣然宣佈本公司及其附屬 公司 ( 統稱「本集團」) 截至二零二三年九月三十日止九個月之未經審核綜合業績。 未經審核綜合全面收益表 截至九月三十日止九個月 二零二三年 二零二二年 美元千元 美元千元 (未經審核) (未經審核) 收入 121,524 122,643 銷售成本 (95,659) (93,830) 毛利 25,865 28,813 ...

Financial Performance - For the six months ended June 30, 2023, the Group's revenue increased by 2.0% to US$82.81 million compared to US$81.21 million in the same period of 2022[5]. - Profit attributable to shareholders was US$2.03 million, a turnaround from a loss of US$4.98 million in 1H22, primarily due to improved performance in the industrial business[6]. - Basic and diluted profit per share were both 0.80 US cents, compared to a loss of 1.97 US cents in 1H22[7]. - Profit before tax for the period was $2,705,000, compared to a loss of $2,891,000 in 2022[49]. - Profit for the period was $2,281,000, a significant recovery from a loss of $3,940,000 in the same period last year[52]. - The profit for the period is US$2,027,000, compared to a loss of US$4,984,000 in the same period last year[66]. - Total comprehensive income for the period was a loss of $8,000,000, an improvement from a loss of $15,424,000 in the previous year[52]. Revenue Composition - Revenue contribution from CTC products decreased from 57% in 1H22 to 48% in 1H23, while revenue from animal health products and other segments increased from 43% to 52%[13]. - Segment revenue for the biochemical operations reached US$82,810,000, an increase from US$81,211,000 in the same period last year, representing a growth of 1.97%[121]. - Revenue from mainland China was US$45,094,000, significantly up from US$32,905,000 in the previous year, marking an increase of 37%[115]. Assets and Liabilities - As of June 30, 2023, the Group's total assets were US$346.5 million, a decrease of 1.2% from US$350.6 million as of December 31, 2022[22]. - Total liabilities were US$98,722,000, with unallocated corporate liabilities at US$66,335,000[101]. - Net debt increased to US$22.7 million as of June 30, 2023, compared to US$18.2 million as of December 31, 2022, resulting in a debt-to-equity ratio of 0.09, up from 0.07[22]. - Non-current assets decreased to $212,649,000 from $221,263,000 as of December 31, 2022[56]. - Current assets increased to $133,825,000 from $129,322,000 at the end of 2022[56]. Cash Flow and Investments - Cash flows from operating activities resulted in a net outflow of US$3,152,000, a decline from a net inflow of US$1,937,000 in the previous year[68]. - The net cash flows used in investing activities amounted to US$2,656,000, compared to US$7,766,000 in the same period last year[68]. - Proceeds from bank borrowings increased significantly to US$47,801,000 from US$18,722,000 in the previous year[68]. - The Company reported a retained profit of US$176,075,000 as of June 30, 2023, up from US$174,094,000 at the beginning of the year[62]. Corporate Governance - The interim financial report for the six months ended June 30, 2023, was reviewed by KPMG, confirming compliance with relevant standards[190]. - The Company has maintained compliance with the Corporate Governance Code throughout the reporting period[188]. - All Directors confirmed compliance with the Code of Conduct for Securities Transactions during the six months ended June 30, 2023[189]. - The audit committee has also reviewed the interim report for the six months ended June 30, 2023[196]. Employment and Operations - The Group employed approximately 1,000 employees in Mainland China and Hong Kong as of June 30, 2023[33]. - The Group operates in two reportable segments: the biochemical segment, which focuses on the manufacture and sale of chlortetracycline and related products, and the industrial segment, which involves trading machinery and manufacturing automotive parts through joint ventures and associates[91]. Market Outlook - The outlook for the biochemical business remains cautious due to economic recovery uncertainties and intensified competition[21]. - The outlook for the remainder of 2023 remains cautious due to economic recovery uncertainties and intensified competition in the biochemical business[26]. - The Group plans to continue expanding its animal health and trading businesses in response to changing market dynamics[14].

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的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHIA TAI ENTERPRISES INTERNATIONAL LIMITED 正 大 企 業 國 際 有 限 公 司 （於百慕達註冊成立之成員有限責任公司） （股份代號：3839） 截至二零二三年六月三十日止六個月之 中期業績公告 未經審核綜合業績 正大企業國際有限公司（「本公司」）董事會（「董事會」）欣然宣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綜合業績。 未經審核綜合全面收益表 截至六月三十日止六個月 二零二三年 二零二二年 附註 美元千元 美元千元 （未經審核） （未經審核） 收入 4 82,810 81,211 銷售成本 (64,401) (62,084) 毛利 18,409 19,127 ...

Financial Performance - In 2022, the company's revenue increased to US$159,239,000, up 11.5% from US$142,407,000 in 2021[16] - Gross profit rose to US$39,189,000, representing a 12.4% increase from US$34,760,000 in the previous year[16] - The company reported a loss attributable to shareholders of US$6,677,000, compared to a profit of US$19,564,000 in 2021[16] - Basic and diluted loss per share was US(2.64) cents, a decline from earnings of US(7.72) cents in 2021[16] - For the year ended December 31, 2022, the Group's revenue increased by 11.8% to US$159.2 million, compared to US$142.4 million in 2021[24] - Loss attributable to shareholders was US$6.7 million in 2022, a decline from a profit of US$19.6 million in 2021, primarily due to losses from ECI Metro[25] - Basic and diluted loss per share were both 2.6 US cents in 2022, compared to a profit of 7.7 US cents in 2021[26] - Overall gross profit margin improved to 24.6% in 2022 from 24.4% in 2021[24] Assets and Liabilities - Total assets decreased to US$350,585,000 from US$365,216,000 in 2021, reflecting a 4.5% decline[16] - The Group's cash and cash equivalents decreased to US$30.9 million as of December 31, 2022, down by US$0.2 million from US$31.1 million as of December 31, 2021[46] - The net debt to equity ratio was 0.07 as of December 31, 2022, with net debt amounting to US$18.2 million, up from US$11.5 million in the previous year[44] - Total bank borrowings increased to US$49,102,000, up from US$42,612,000 in the previous year, marking a 15.5% rise[16] - Total borrowings increased to US$49.1 million as of December 31, 2022, compared to US$42.6 million as of December 31, 2021[47] - As of December 31, 2022, 37.3% of total borrowings (US$18.3 million) were secured, down from 44.4% (US$18.9 million) in the previous year[47] Market and Business Outlook - The company plans to seize opportunities in the new energy vehicle market and enhance production efficiency moving forward[10] - The outlook for 2023 indicates cautious performance expectations due to uncertainties in economic recovery and intense competition in the industrial sector[40] - The Group's biochemical business revenue increased by 11.8% to US$159.2 million, with revenue contributions from China (52.3%), the Americas (18.3%), Asia Pacific (15.3%), and others (14.1%)[31] - ECI Metro's share of profits and losses decreased from a profit of US$4 million in 2021 to a loss of US$9 million in 2022 due to a 45% decline in the excavator market[38] - Zhanjiang Deni's share of profit was US$2.1 million in 2022, slightly down from US$2.2 million in 2021, amid a 2.1% increase in automobile sales[39] Corporate Governance and Compliance - The Company held one annual general meeting, seven Board meetings, four Audit Committee meetings, two Remuneration Committee meetings, one Nomination Committee meeting, and two Corporate Governance Committee meetings in 2022[80] - The Board is responsible for presenting a balanced and clear assessment of the Company's performance in the annual and interim reports[88] - The Directors confirm their responsibility for preparing financial statements that reflect the Group's financial position and performance in accordance with International Financial Reporting Standards[89] - The Group has established an Anti-corruption Policy and Whistleblowing Policy to uphold corporate governance principles and ethical standards[100] - The Corporate Governance Committee is responsible for reviewing the company's governance policies and compliance with legal requirements[174] Risk Management - The Board conducted an annual review of the effectiveness of the Group's risk management and internal control systems in 2022, considering them effective and adequate[184] - The Group has established a Risk Management Policy to manage risks associated with achieving business objectives[180] - The Board has delegated the responsibility of reviewing the effectiveness of the Group's risk management and internal control systems to the Audit Committee[181] - The Group is committed to continuous improvement in its risk management and internal control framework[186] Human Capital and Diversity - The company is focused on improving human capital through recruitment and training to support sustainable development[5] - The Group employed around 1,000 employees in the PRC and Hong Kong as of December 31, 2022[54] - The company aims to increase the percentage of female employees from 27% to 30% over the next five years to promote gender diversity in the workforce[151] - The company plans to appoint at least one female director by December 31, 2024, to enhance gender diversity at the board level[146] - All independent non-executive directors are assessed for independence annually, ensuring no conflicts of interest with senior management[143] Innovation and Corporate Culture - Innovation is a key driver for the Group, with a focus on fostering creativity among employees to enhance products and services[105] - The Group emphasizes "Speed with Quality," ensuring fast adaptation to changes without compromising quality, which is crucial for business efficiency[98] - The Group's corporate culture aligns with its purpose, values, and strategy, promoting a cohesive operational framework[101] Audit and Remuneration - The Audit Committee is responsible for independent oversight of the Group's financial reporting, risk management, and internal control systems[109] - The Remuneration Committee's terms of reference were revised on February 23, 2023, to include review and approval of share schemes under Chapter 17 of the Listing Rules[107] - The Group paid a total of US$242,000 to the external auditor for audit and non-audit services in 2022, with US$187,000 for audit services and US$53,000 for review engagements[122] - The remuneration for directors is determined after considering individual performance, Group performance, and market conditions[128]

Financial Performance - For the nine months ended September 30, 2022, the company reported revenue of $122.643 million, an increase of 24.3% compared to $98.583 million for the same period in 2021[2] - Gross profit for the same period was $28.813 million, up from $24.779 million, reflecting a gross margin improvement[2] - The company recorded a net loss of $5.317 million for the nine months ended September 30, 2022, compared to a profit of $23.766 million in the previous year[4] - The total comprehensive loss for the period was $29.191 million, compared to a comprehensive income of $26.526 million in the prior year[4] Assets and Liabilities - Non-current assets decreased to $214.321 million as of September 30, 2022, from $240.738 million as of December 31, 2021[6] - Current assets totaled $118.457 million, down from $124.478 million at the end of the previous year[6] - The company's total liabilities decreased to $287.378 million as of September 30, 2022, from $328.599 million at the end of 2021[6] - The equity attributable to shareholders was $224.988 million as of September 30, 2022, compared to $253.059 million at the end of the previous year[8] Market Activity and Outlook - The company did not report any new product launches or significant market expansions during the period[2] - Future outlook remains cautious due to market conditions, with no specific guidance provided for the upcoming quarters[2]

Financial Performance - For the six months ended June 30, 2022, the Group's revenue increased by 28.2% to US$81.21 million compared to US$63.37 million in the same period of 2021[6] - The loss attributable to shareholders was US$4.98 million in 1H22, a decline from a profit of US$6.72 million in 1H21, primarily due to a significant drop in profits from ECI Metro[7] - Basic and diluted earnings per share were negative 1.97 US cents in 1H22, compared to positive 2.65 US cents in 1H21[8] - Revenue for the six months ended June 30, 2022, was US$81,211,000, an increase of 28.1% compared to US$63,369,000 in the same period of 2021[59] - Gross profit for the period was US$19,127,000, up 16.4% from US$16,414,000 in the previous year[59] - The company reported a loss before tax of US$2,891,000, compared to a profit of US$8,799,000 in the same period of 2021[59] - Total comprehensive income for the period was a loss of US$15,424,000, compared to a gain of US$10,110,000 in the same period of 2021[62] - The company reported a loss of US$4,984,000 for the six months ended June 30, 2022, compared to a profit of US$6,724,000 for the same period in 2021[81] Revenue Sources - Revenue contribution from different regions included 40.5% from China, 24.3% from the Americas, 20.4% from Asia Pacific (excluding China), and 14.8% from other regions[15] - The Group's strategic expansion into related veterinary products contributed to revenue growth in China amid softening demand for CTC products[17] - Despite logistical challenges from the COVID-19 pandemic, the Group achieved solid revenue growth through targeted marketing and increased overseas sales, particularly in North America[16] - Revenue from Mainland China was US$32,905,000, up from US$32,069,000 in 2021, representing a growth of 2.6%[127] Cost and Profitability - The overall gross profit margin declined from 25.9% in 1H21 to 23.6% in 1H22, impacted by rising raw material and energy costs[18] - The Group's cost of inventories sold for the six months ended June 30, 2022, was US$62,084,000, an increase of 32.2% from US$46,955,000 in 2021[142] - The Group reported a total asset value of US$365,216,000 as of June 30, 2022[125] Cash Flow and Financing - The Group's cash and cash equivalents were US$28.3 million as of 30 June 2022, a decrease of US$2.8 million compared to US$31 December 2021[34] - Total borrowings amounted to US$43.8 million as of 30 June 2022, an increase from US$42.6 million as of 31 December 2021[38] - Cash generated from operations for the six months ended June 30, 2022, was $3,037,000, compared to a cash used in operations of $(9,625,000) for the same period in 2021, representing a significant turnaround[85] - Net cash flows generated from operating activities were $1,937,000 for the first half of 2022, compared to $(10,629,000) in the prior year, indicating improved operational efficiency[85] Assets and Liabilities - Total non-current assets decreased to US$225,261,000 as of June 30, 2022, from US$240,738,000 as of December 31, 2021[66] - Current liabilities increased to US$73,280,000 as of June 30, 2022, compared to US$59,155,000 at the end of 2021[66] - Net assets decreased to US$262,065,000 as of June 30, 2022, down from US$283,523,000 as of December 31, 2021[69] - The total liabilities of the Group were US$81,693,000 as of June 30, 2022[125] Employee and Operational Insights - The Group employed around 1,000 employees in mainland China and Hong Kong as of 30 June 2022[43] - The Group operates in two segments: the biochemical segment, focusing on chlortetracycline and related products, and the industrial segment, which includes machinery trading and automotive parts manufacturing[98] Related Party Transactions - Sales of goods to C.P. Pokphand Co., Ltd. and its subsidiaries totaled US$1,103,000 for the six months ended June 30, 2022, down from US$1,365,000 in the same period of 2021, representing a decrease of approximately 19.2%[188] - Related party transactions were conducted at prices no more favorable than those offered to independent third-party customers, ensuring compliance with market standards[191] Future Outlook - The Group expects continued challenges in the biochemical business due to ongoing economic pressures from the COVID-19 pandemic[27] - Fixed-asset investment growth in China is anticipated to remain low for the remainder of 2022, with intensified competition expected[27]