Revenue and Profit Growth - Global revenue for the first half of 2024 increased by 28% to HKD 445.1 million compared to HKD 347.2 million in the same period last year[2] - Total revenue for the six months ended June 30, 2024, was HKD 445,141,000, compared to HKD 347,231,000 in the same period of 2023, representing a 28.2% increase[14] - Operating profit for the first half of 2024 was HKD 68.4 million, up from HKD 56.2 million in the same period last year[3] - Net profit attributable to shareholders for the first half of 2024 was HKD 91.5 million, compared to HKD 87.0 million in 2023[3] - The company's profit before tax for the six months ended June 30, 2024, was HKD 184,619,000, compared to HKD 147,480,000 in the same period of 2023, representing a 25.2% increase[17] - Basic earnings per share for 2024 is HKD 0.0775, based on a profit attributable to owners of HKD 91,458,000 and a weighted average of 1,180,700,000 shares[22] Gross Profit Margin and Cost Efficiency - Gross profit margin for toy sales improved to 56% in 2024 from 54% in 2023, driven by higher sales in the US market, reduced inventory discounts, and lower product development costs[2] Financial Position and Assets - The company's cash and bank deposits increased to HKD 1,087,012,000 as of June 30, 2024, up from HKD 1,002,820,000 at the end of 2023, reflecting a growth of 8.4%[8] - The company's net current assets stood at HKD 1,135,314,000 as of June 30, 2024, compared to HKD 1,107,668,000 at the end of 2023, showing a 2.5% increase[8] - The company's total assets less current liabilities increased to HKD 1,192,637,000 as of June 30, 2024, from HKD 1,176,589,000 at the end of 2023, a growth of 1.4%[8] - The company's net equity increased to HKD 1,184,533,000 as of June 30, 2024, from HKD 1,163,917,000 at the end of 2023, reflecting a 1.8% increase[8] - The company's income from financial assets at fair value through profit or loss was HKD 50,822,000 for the six months ended June 30, 2024, compared to HKD 31,847,000 in the same period of 2023, a 59.6% increase[16] - Listed securities investments as of June 30, 2024, are HKD 78,507,000, representing 5.3% of total assets[26] - The company holds major listed securities including NVIDIA, Amazon, Disney, Alphabet, Apple, Microsoft, Netflix, Walmart, Tencent, and Alibaba[26] Tax and Financial Liabilities - The company's tax expense for the six months ended June 30, 2024, was HKD 25,962,000, compared to a tax credit of HKD 542,000 in the same period of 2023[19] - The company's cumulative unrecognized tax losses as of June 30, 2024, were HKD 4,368,000, down from HKD 6,869,000 at the end of 2023[19] - Trade receivables as of June 30, 2024, are HKD 133,954,000, with a customer discount provision of HKD 29,785,000[23] - Trade payables as of June 30, 2024, are HKD 58,512,000, with the majority due within 30 days[24] Dividend and Shareholder Information - Interim dividend per share is 2 HK cents, totaling HKD 23,614,000 for 2024, same as 2023[20] - Final dividend for the previous fiscal year includes a second interim dividend of 3 HK cents and a special interim dividend of 3 HK cents, totaling HKD 70,842,000 for 2024[21] - The company will suspend share registration from September 9, 2024, to September 10, 2024, inclusive[31] - Shareholders must submit transfer documents and related shares by 4:30 PM on September 6, 2024, to qualify for the declared dividend[31] - The interim dividend will be paid on September 27, 2024, to shareholders listed in the register as of September 10, 2024[31] Product Development and Licensing - The company is developing new products for the "Teenage Mutant Ninja Turtles" franchise, with a sequel movie and a two-season series in production[4] - The "Godzilla x Kong" franchise is expanding its product line, including highly detailed action figures and role-playing accessories[5] - The company has signed a global licensing agreement with Hasbro to produce and distribute "Power Rangers" toys, with a product line planned for release in fall 2025[6] Market and Economic Outlook - The company expects continued challenges in the second half of 2024 due to inflation and tighter household budgets, but anticipates support from the "Tales of The Teenage Mutant Ninja Turtles" series on Paramount+[3] - The "Godzilla x Kong" product line is expected to continue contributing positively, following the successful release of the "Godzilla x Kong: The New Empire" movie[3] Regional Revenue Performance - The company's revenue from the Americas region was HKD 309,454,000 for the six months ended June 30, 2024, compared to HKD 209,899,000 in the same period of 2023, a 47.4% increase[14] Liquidity and Currency Risk - The liquidity ratio as of June 30, 2024, is 5.1, compared to 3.8 as of December 31, 2023[26] - The company does not hedge its foreign currency risk due to the narrow range of exchange rate fluctuations between HKD and USD[27] Board of Directors - The board of directors includes Chairman Mr. Chan Kwong Fai, Executive Directors Ms. Chan Hoi Lun and Mr. Chan Kwong Keung, and Independent Non-Executive Directors Mr. Yip Shu Wing, Mr. Lam Wai Hon, and Mr. Yu Hon To[31]
彩星玩具(00869) - 2024 - 中期业绩