汇聚科技(01729) - 2021 - 中期财报

Financial Performance - Revenue for the six months ended September 30, 2020, was HK$1,441.7 million, a decrease of 5.4$1,523.9 million in 2019[9]. - Gross profit increased by 8.0% to HK$303.8 million from HK$281.4 million in the previous year[9]. - Adjusted total profit for the period rose by 27.5% to HK$134.8 million, compared to HK$105.7 million in 2019[9]. - Basic earnings per share (adjusted) increased by 28.1% to 7.3 Hong Kong cents, up from 5.7 Hong Kong cents in the prior year[9]. - Gross profit margin improved to 21.1%, an increase of 2.6 percentage points from 18.5%[9]. - Adjusted net profit margin reached 9.4%, up from 6.9% in the previous year, reflecting a 2.5 percentage point increase[9]. - EBITDA as a percentage of revenue (adjusted) was 15.2%, compared to 13.0% in the previous year, marking a 2.2 percentage point increase[9]. - Operating profit for the Reporting Period was HK$190.2 million, an increase of HK$24.8 million or 15.0%, with an operating profit margin improved to 13.2%[13]. - Profit for the period was HK$130.7 million, resulting in a net profit margin of 9.1$130.7 million, an increase of HK$30.7 million or 30.7$100.0 million for the same period last year, with a net profit margin of 9.4%[22]. Revenue Breakdown - Data centre sector revenue decreased by HK$28.6 million or 7.2$367.9 million compared to HK$396.5 million in the same period last year[16]. - Telecommunication sector revenue declined by HK$4.3 million or 1.4% to HK$308.7 million from HK$313.0 million year-on-year[17]. - Medical equipment sector revenue increased by HK$28.1 million or 43.0$93.5 million compared to HK$65.4 million in the same period last year[17]. - Industrial equipment sector revenue rose by HK$11.0 million or 40.9% to HK$37.9 million from HK$26.9 million (restated) year-on-year[17]. - Networking cables revenue decreased by HK$88.4 million or 12.2$633.7 million compared to HK$722.1 million (restated) in the same period last year[17]. Strategic Initiatives - The company aims to become a Tier-1 supplier in the 5G telecommunications and data communication sectors[5]. - The Group established a "Strategic Business Development Task Force" on 1 September 2020 to formulate long-term business strategies and accelerate market development[11]. - The Group is focused on improving its research and development capabilities and optimizing its product mix to enhance competitiveness[11]. - The Group aims to leverage opportunities presented by next-generation 5G network technology[11]. - The acquisition of Linkz Cables Limited significantly enlarges the Group's revenue base and diversifies its customer base, mitigating customer concentration risk[12]. Operational Efficiency - More than 130 indirect personnel were transferred to the production front line, improving overall production efficiency without increasing headcount[11]. - The Group has hired doctoral consultants to enhance its internal technology and product development capabilities[11]. - The Group's operating expenses decreased, contributing to the increase in operating profit margin[13]. Acquisitions and Investments - The Company completed the acquisition of the networking cables business for HK$781.0 million, with related expenses of approximately HK$4.2 million for the Reporting Period[21]. - The acquisition of the networking cables business for HK$781.0 million is expected to significantly enlarge the revenue base and mitigate customer concentration risk[24]. - The Group plans to invest approximately HK$96.1 million for production capacity expansion, including HK$88.6 million for a new production facility and HK$7.5 million for related machinery[39]. Shareholder Information - The company declared an interim dividend of HK1.5 cents per share, totaling approximately HK$27.6 million[25]. - As of September 30, 2020, shareholders' funds decreased by HK$441.6 million or 38.1$716.4 million from HK$1,158.0 million as of March 31, 2020, primarily due to the acquisition of networking cables business[27]. - The Group's bank balances and cash decreased by 57.7$155.2 million as of September 30, 2020, compared to HK$366.9 million as of March 31, 2020, mainly due to the payment for the acquisition and dividend distribution[27]. Taxation and Financial Position - The effective tax rate decreased from 19.9$156.9 million, with an effective tax rate of 16.7%[13]. - The current tax charge included HK$9,384,000 for Hong Kong Profits Tax and HK$16,614,000 for PRC Enterprise Income Tax, totaling HK$25,998,000[138]. Corporate Governance - The Company has adopted a share option scheme on January 24, 2018, and further granted share options to senior management on August 7, 2020[63]. - The Company has fully complied with the Corporate Governance Code during the six months ended September 30, 2020[64]. - The Audit Committee was established on January 24, 2018, with Mr. Chan Chung Shun Eric as the chairman[65]. Risk Management - The Group's management actively monitors foreign exchange risk exposure and employs forward foreign exchange contracts to mitigate potential impacts[30]. - The Company emphasizes the importance of internal control procedures and risk management systems as part of its governance framework[70].