Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 8,704,047, representing a 12% increase compared to HKD 7,743,999 for the same period in 2023[2] - Gross profit increased by 29% to HKD 964,215 from HKD 745,345 year-on-year[2] - Net profit attributable to equity holders for the period was HKD 643,341, a 41% increase from HKD 456,952 in the previous year[2] - Total comprehensive income for the period was HKD 669,530, up from HKD 517,235 in the previous year[5] - The pre-tax profit for the period was HKD 842,316 thousand, with a net profit of HKD 679,702 thousand after tax[17] - The net profit for the period was HKD 510,540,000, reflecting an increase from HKD 341,819,000 in the previous year, which is a rise of approximately 49%[21] - Net profit for the six months rose by 33% to HKD 679.7 million, compared to HKD 510.5 million in 2023[46] Dividends - The company announced an interim dividend of HKD 0.15 per share for 2024, reflecting its strong profitability and cash flow[2] - The company declared a final dividend of HKD 0.32 per share for 2023, totaling HKD 221,338,000, up from HKD 0.20 per share in 2022, which was HKD 138,336,000[27] - The board declared an interim dividend of HKD 0.15 per share for the six months ending June 30, 2024[55] Revenue Breakdown - Revenue from tobacco leaf products sales reached HKD 8,112,880 thousand, up from HKD 7,469,818 thousand, reflecting a growth of 8.7%[13] - The revenue from cigarette sales increased significantly to HKD 547,323 thousand, compared to HKD 240,131 thousand, marking a growth of 128.5%[13] - The revenue from new tobacco products was HKD 43,517 thousand, up from HKD 33,895 thousand, representing a growth of 28.4%[13] - The group's revenue from mainland China was HKD 7,256,648 thousand, an increase of 9.8% from HKD 6,607,111 thousand in the previous year[14] Costs and Expenses - Financing costs rose by 60% to HKD 115,463 from HKD 72,365 year-on-year[2] - The financing costs for the period were HKD 115,463,000, up from HKD 72,365,000 in the previous year, representing an increase of approximately 60%[24] Assets and Liabilities - Current assets increased to HKD 9,211,367 from HKD 6,213,612 as of December 31, 2023[6] - The company's net asset value as of June 30, 2024, was HKD 3,143,484, compared to HKD 2,695,292 at the end of 2023[7] - The total assets of the reportable segments amounted to HKD 9,665,203 thousand as of June 30, 2024[17] - The total liabilities of the reportable segments were HKD 6,521,719 thousand as of June 30, 2024[17] Market Expansion and Strategy - The company continues to focus on expanding its tobacco product exports to Southeast Asia, Hong Kong, Macau, Taiwan, and Europe[8] - The company is exploring potential acquisitions to strengthen its competitive position in the market[66] - Strategic initiatives are being implemented to improve operational efficiency, aiming for a 15% reduction in costs over the next year[66] - The company is expanding its market presence in the exclusive operating regions, targeting a 25% increase in market share by 2025[66] Research and Development - Research and development investments have increased by 30%, focusing on innovative technologies to enhance product offerings[66] Corporate Governance - The group has complied with all applicable code provisions of the Corporate Governance Code during the six months ending June 30, 2024[60] - The company remains committed to adhering to corporate governance standards as outlined in the Corporate Governance Code[65] Employee Costs - As of June 30, 2024, the group employed 47 staff in Hong Kong and 254 in Brazil, with total employee costs amounting to HKD 63.1 million, up from HKD 54.9 million in 2023[54]
中烟香港(06055) - 2024 - 中期业绩