理文化工(00746) - 2021 - 中期财报

Financial Performance - Revenue for the six months ended June 30, 2021, was HK$2,271,500,000, an increase from HK$1,381,714,000 in the same period last year, representing a growth of 64.4%[6] - Gross profit for the same period was HK$1,018,084,000, compared to HK$443,400,000 in the previous year, indicating a significant increase of 129.1%[6] - Profit for the period reached HK$587,028,000, up from HK$156,213,000, marking an increase of 274.5%[6] - Basic earnings per share were 71.2 HK cents, compared to 18.9 HK cents in the prior year, reflecting an increase of 276.7%[6] - Total comprehensive income for the period was HK$690,477,000, compared to HK$97,734,000 in the previous year, an increase of 605.5%[6] Revenue Breakdown - Revenue from caustic soda was HK$568,112,000, up from HK$532,594,000, representing a growth of 6.8%[27] - Revenue from chloromethane products increased significantly to HK$594,627,000 from HK$318,856,000, marking an increase of 86.2%[27] - The Group's revenue from the manufacture and sale of chemical products was HK$2,110,983,000, compared to HK$1,381,714,000, reflecting a growth of 52.9%[27] - Revenue from property sales amounted to HK$160,517,000, with no revenue recorded in the same period of the previous year[27] Expenses and Costs - Selling and distribution costs were HK$114,444,000, compared to HK$91,172,000 in the previous year, an increase of 25.5$23,000,000, compared to HK$31,863,000 in the previous year, a decrease of 27.6$1,253,416,000, an increase of 33.5% from HK$938,314,000 in 2020[46] - General and administrative expenses increased to approximately HK$136 million, up by approximately HK$38 million from HK$98 million in the same period last year[92] Assets and Liabilities - As of June 30, 2021, total assets less current liabilities amounted to HK$5,709,739,000, an increase from HK$5,604,635,000 as of December 31, 2020, reflecting a growth of approximately 1.87%[8] - Net current assets decreased to HK$417,638,000 from HK$606,211,000, indicating a decline of about 30.97%[9] - The company's bank borrowings decreased significantly from HK$1,073,493,000 to HK$633,029,000, a reduction of approximately 41.05%[9] - Total equity increased to HK$5,014,124,000 from HK$4,443,564,000, representing a growth of around 12.83%[9] Cash Flow - For the six months ended June 30, 2021, net cash from operating activities was HK$674,829,000, a significant increase from HK$232,767,000 in the same period of 2020, representing a growth of approximately 189%[15] - The net cash used in investing activities was HK$397,945,000, up from HK$230,580,000 in the prior year, reflecting a rise of approximately 72.7%[15] - Cash and cash equivalents at the end of the period were HK$408,840,000, down from HK$422,683,000 at the beginning of the period, reflecting a decrease of about 3.5%[15] Shareholder Information - The company paid dividends totaling HK$136,125,000, compared to HK$123,750,000 in the same period last year, marking an increase of approximately 10%[15] - The interim dividend declared is HK$26.0 cents per share, compared to HK$7.5 cents per share in 2020[51] Corporate Governance - The company has complied with the Corporate Governance Code throughout the six months ended June 30, 2021[118] - The Audit Committee reviewed the Group's results for the period ended June 30, 2021, discussing accounting principles and internal controls[119] - The Remuneration Committee has been established with independent non-executive directors overseeing its authority and duties[120] - The Nomination Committee consists of independent non-executive directors, ensuring governance in board member selection[121] Future Outlook - The board expressed optimism about future growth and market expansion strategies[6] - The Group remains cautiously optimistic about future business prospects as COVID-19 vaccination rates increase globally, leading to a gradual relaxation of pandemic-related restrictions[86] - The Group aims to promote green manufacturing and achieve "Grade-A Safe Production Standardization Enterprise Certification" for sustainable returns to shareholders[89]