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裕元集团(00551) - 2024 - 中期财报
00551YUE YUEN IND(00551)2024-09-09 08:33

Financial Performance - Total footwear shipments reached 120.7 million pairs, a 9.9% increase from 109.8 million pairs in the same period last year[6] - Revenue for the period was 4,015.4million,a3.44,015.4 million, a 3.4% decrease compared to 4,155.0 million in the previous year[6] - Gross profit was 975.1million,withagrossmarginof24.3975.1 million, with a gross margin of 24.3%, up from 23.5% in the prior year[6] - Operating profit increased significantly to 259.3 million, a 67.9% rise from 154.4millionin2023[6]−Netprofitattributabletoshareholderswas154.4 million in 2023[6] - Net profit attributable to shareholders was 184.4 million, more than double the 83.6millionreportedinthepreviousyear[6]−Basicearningspershareroseto11.44cents,upfrom5.19centsin2023[6]−RevenueforthesixmonthsendedJune30,2024,was83.6 million reported in the previous year[6] - Basic earnings per share rose to 11.44 cents, up from 5.19 cents in 2023[6] - Revenue for the six months ended June 30, 2024, was 4,015.407 million, a decrease of 3.4% compared to 4,154.968millioninthesameperiodin2023[12]−GrossprofitforthesixmonthsendedJune30,2024,was4,154.968 million in the same period in 2023[12] - Gross profit for the six months ended June 30, 2024, was 975.087 million, slightly down from 977.710millionin2023[12]−Netprofitattributabletothecompany′sownersforthesixmonthsendedJune30,2024,was977.710 million in 2023[12] - Net profit attributable to the company's owners for the six months ended June 30, 2024, was 184.401 million, a significant increase from 83.601millionin2023[12]−BasicearningspershareforthesixmonthsendedJune30,2024,were11.44cents,upfrom5.19centsin2023[12]−TotalcomprehensiveincomeforthesixmonthsendedJune30,2024,was83.601 million in 2023[12] - Basic earnings per share for the six months ended June 30, 2024, were 11.44 cents, up from 5.19 cents in 2023[12] - Total comprehensive income for the six months ended June 30, 2024, was 170.546 million, compared to 29.330millionin2023[13]−Revenuefortheperioddecreasedby3.429.330 million in 2023[13] - Revenue for the period decreased by 3.4% to 4,015.4 million, while net profit attributable to shareholders increased by 120.6% to 184.4million[57]−Manufacturingbusinessnetprofitattributabletoshareholderssurgedby177.5184.4 million[57] - Manufacturing business net profit attributable to shareholders surged by 177.5% to 155.4 million[57] - Footwear shipment volume increased by 9.9% to 120.7 million pairs, with average selling price decreasing by 7.8% to 19.98perpair[58]−Totaloperatingrevenuedecreasedby3.419.98 per pair[58] - Total operating revenue decreased by 3.4% to 4,015.4 million, with sports/outdoor footwear contributing 51.7% of revenue at 2,074.6million[59]−Thecompany′smanufacturingbusinessshipped120.7millionpairsofshoes,a9.92,074.6 million[59] - The company's manufacturing business shipped 120.7 million pairs of shoes, a 9.9% increase YoY, with an average selling price of 19.98 per pair, down 7.8% YoY[61] - Gross profit for the manufacturing business increased by 12.1% to 502.6million,withagrossmarginimprovementof1.7percentagepointsto19.1502.6 million, with a gross margin improvement of 1.7 percentage points to 19.1%[62] - The company's attributable recurring profit surged by 123.8% to 178.9 million, driven by operational improvements and cost efficiencies[65] - Product development expenses decreased to 68.8million,focusingondigitalprototyping,processreengineering,andsustainablematerials[66]−Netcashfromoperatingactivitiesdecreasedto68.8 million, focusing on digital prototyping, process reengineering, and sustainable materials[66] - Net cash from operating activities decreased to 173.7 million, with free cash flow at 79.9million,whilecashandequivalentsdecreasedby79.9 million, while cash and equivalents decreased by 223.9 million[67] - The company's bank balance and cash stood at 922.8millionasofJune30,2024,comparedto922.8 million as of June 30, 2024, compared to 1,142.1 million on December 31, 2023[68] - The company's net cash decreased to 65.8millionasofJune30,2024,from65.8 million as of June 30, 2024, from 169.4 million on December 31, 2023[68] - The company's leverage ratio improved to 18.1% as of June 30, 2024, down from 20.7% on December 31, 2023[68] - The company's total capital expenditure reached 93.8millioninthefirsthalfof2024,upfrom93.8 million in the first half of 2024, up from 84.5 million in the same period of 2023[70] - Manufacturing business capital expenditure was 67.4millioninthefirsthalfof2024,comparedto67.4 million in the first half of 2024, compared to 59.9 million in the same period of 2023[70] - Retail business capital expenditure increased to 26.4millioninthefirsthalfof2024,upfrom26.4 million in the first half of 2024, up from 24.6 million in the same period of 2023[70] - The company's share of profits from associates and joint ventures totaled 32.9millioninthefirsthalfof2024,upfrom32.9 million in the first half of 2024, up from 29.1 million in the same period of 2023[74] - The company's current ratio improved to 2.2 as of June 30, 2024, compared to 1.9 on December 31, 2023[68] - The company declared an interim dividend of HKD 0.40 per share, doubling from HKD 0.20 in 2023[78] Assets and Liabilities - Non-current assets as of June 30, 2024, were 3,510.754million,aslightdecreasefrom3,510.754 million, a slight decrease from 3,574.374 million as of December 31, 2023[14] - Current assets as of June 30, 2024, were 3,694.760million,downfrom3,694.760 million, down from 3,783.858 million as of December 31, 2023[14] - Cash and cash equivalents as of June 30, 2024, were 699.313million,adecreasefrom699.313 million, a decrease from 923.217 million as of December 31, 2023[14] - Current liabilities decreased from 1,984,674thousandto1,984,674 thousand to 1,657,874 thousand, a reduction of 16.5%[15] - Net current assets increased from 1,799,184thousandto1,799,184 thousand to 2,036,886 thousand, a growth of 13.2%[15] - Total assets minus current liabilities rose from 5,373,558thousandto5,373,558 thousand to 5,547,640 thousand, an increase of 3.2%[15] - Non-current liabilities grew from 663,530thousandto663,530 thousand to 814,359 thousand, up 22.7%[15] - Bank borrowings under current liabilities decreased from 643,159thousandto643,159 thousand to 357,391 thousand, a drop of 44.4%[15] - Contract liabilities increased from 45,021thousandto45,021 thousand to 68,291 thousand, up 51.7%[15] - Equity attributable to the company's owners rose slightly from 4,240,268thousandto4,240,268 thousand to 4,258,443 thousand, a 0.4% increase[15] - Non-controlling interests increased from 469,760thousandto469,760 thousand to 474,838 thousand, up 1.1%[15] - Total equity grew marginally from 4,710,028thousandto4,710,028 thousand to 4,733,281 thousand, a 0.5% increase[15] - Deferred tax liabilities increased from 54,604thousandto54,604 thousand to 56,579 thousand, up 3.6%[15] - The company's equity attributable to owners as of June 30, 2024, was 4.733billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2024,was4.733 billion[16] - The company's equity attributable to owners as of January 1, 2024, was 4.710 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.529billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.529 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.642 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.077billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.077 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.189 billion[16] - The company's total comprehensive income for the period was 29.330million,withaprofitof29.330 million, with a profit of 105.011 million[16] - The company's total comprehensive income for the period was 2.754million,withaprofitof2.754 million, with a profit of 83.601 million[16] - The company's profit for the period was 184.401million,withatotalcomprehensiveincomeof184.401 million, with a total comprehensive income of 161.887 million[16] - The company's total comprehensive income for the period was 170.546million,withaprofitof170.546 million, with a profit of 203.971 million[16] - The company's equity attributable to owners as of June 30, 2024, was 4.733billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2024,was4.733 billion[16] - The company's equity attributable to owners as of January 1, 2024, was 4.710 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.529billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.529 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.642 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.077billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.077 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.189 billion[16] - The company's total comprehensive income for the period was 29.330million,withaprofitof29.330 million, with a profit of 105.011 million[16] - The company's total comprehensive income for the period was 2.754million,withaprofitof2.754 million, with a profit of 83.601 million[16] - The company's profit for the period was 184.401million,withatotalcomprehensiveincomeof184.401 million, with a total comprehensive income of 161.887 million[16] - The company's total comprehensive income for the period was 170.546million,withaprofitof170.546 million, with a profit of 203.971 million[16] - The company's equity attributable to owners as of June 30, 2024, was 4.733billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2024,was4.733 billion[16] - The company's equity attributable to owners as of January 1, 2024, was 4.710 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.529billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.529 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.642 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.077billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.077 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.189 billion[16] - The company's total comprehensive income for the period was 29.330million,withaprofitof29.330 million, with a profit of 105.011 million[16] - The company's total comprehensive income for the period was 2.754million,withaprofitof2.754 million, with a profit of 83.601 million[16] - The company's profit for the period was 184.401million,withatotalcomprehensiveincomeof184.401 million, with a total comprehensive income of 161.887 million[16] - The company's total comprehensive income for the period was 170.546million,withaprofitof170.546 million, with a profit of 203.971 million[16] - The company's equity attributable to owners as of June 30, 2024, was 4.733billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2024,was4.733 billion[16] - The company's equity attributable to owners as of January 1, 2024, was 4.710 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.529billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.529 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.642 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.077billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.077 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.189 billion[16] - The company's total comprehensive income for the period was 29.330million,withaprofitof29.330 million, with a profit of 105.011 million[16] - The company's total comprehensive income for the period was 2.754million,withaprofitof2.754 million, with a profit of 83.601 million[16] - The company's profit for the period was 184.401million,withatotalcomprehensiveincomeof184.401 million, with a total comprehensive income of 161.887 million[16] - The company's total comprehensive income for the period was 170.546million,withaprofitof170.546 million, with a profit of 203.971 million[16] - The company's equity attributable to owners as of June 30, 2024, was 4.733billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2024,was4.733 billion[16] - The company's equity attributable to owners as of January 1, 2024, was 4.710 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.529billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.529 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.642 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.077billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.077 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.189 billion[16] - The company's total comprehensive income for the period was 29.330million,withaprofitof29.330 million, with a profit of 105.011 million[16] - The company's total comprehensive income for the period was 2.754million,withaprofitof2.754 million, with a profit of 83.601 million[16] - The company's profit for the period was 184.401million,withatotalcomprehensiveincomeof184.401 million, with a total comprehensive income of 161.887 million[16] - The company's total comprehensive income for the period was 170.546million,withaprofitof170.546 million, with a profit of 203.971 million[16] - The company's equity attributable to owners as of June 30, 2024, was 4.733billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2024,was4.733 billion[16] - The company's equity attributable to owners as of January 1, 2024, was 4.710 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.529billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.529 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.642 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.077billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.077 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.189 billion[16] - The company's total comprehensive income for the period was 29.330million,withaprofitof29.330 million, with a profit of 105.011 million[16] - The company's total comprehensive income for the period was 2.754million,withaprofitof2.754 million, with a profit of 83.601 million[16] - The company's profit for the period was 184.401million,withatotalcomprehensiveincomeof184.401 million, with a total comprehensive income of 161.887 million[16] - The company's total comprehensive income for the period was 170.546million,withaprofitof170.546 million, with a profit of 203.971 million[16] - The company's equity attributable to owners as of June 30, 2024, was 4.733billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2024,was4.733 billion[16] - The company's equity attributable to owners as of January 1, 2024, was 4.710 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.529billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.529 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.642 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.077billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.077 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.189 billion[16] - The company's total comprehensive income for the period was 29.330million,withaprofitof29.330 million, with a profit of 105.011 million[16] - The company's total comprehensive income for the period was 2.754million,withaprofitof2.754 million, with a profit of 83.601 million[16] - The company's profit for the period was 184.401million,withatotalcomprehensiveincomeof184.401 million, with a total comprehensive income of 161.887 million[16] - The company's total comprehensive income for the period was 170.546million,withaprofitof170.546 million, with a profit of 203.971 million[16] - The company's equity attributable to owners as of June 30, 2024, was 4.733billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2024,was4.733 billion[16] - The company's equity attributable to owners as of January 1, 2024, was 4.710 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.529billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.529 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.642 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.077billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.077 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.189 billion[16] - The company's total comprehensive income for the period was 29.330million,withaprofitof29.330 million, with a profit of 105.011 million[16] - The company's total comprehensive income for the period was 2.754million,withaprofitof2.754 million, with a profit of 83.601 million[16] - The company's profit for the period was 184.401million,withatotalcomprehensiveincomeof184.401 million, with a total comprehensive income of 161.887 million[16] - The company's total comprehensive income for the period was 170.546million,withaprofitof170.546 million, with a profit of 203.971 million[16] - The company's equity attributable to owners as of June 30, 2024, was 4.733billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2024,was4.733 billion[16] - The company's equity attributable to owners as of January 1, 2024, was 4.710 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.529billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.529 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.642 billion[16] - The company's equity attributable to owners as of June 30, 2023, was 4.077billion[16]−Thecompany′sequityattributabletoownersasofJanuary1,2023,was4.077 billion[16] - The company's equity attributable to owners as of January 1, 2023, was 4.189 billion[16] - The company's total comprehensive income for the period was 29.330million,withaprofitof29.330 million, with a profit of 105.011 million[16] - The company's total comprehensive income for the period was 2.754million,withaprofitof2.754 million, with a profit of 83.601 million[16] - The company's profit for the period was 184.401million,withatotalcomprehensiveincomeof184.401 million, with a total comprehensive income of 161.887 million[16] - The company's total comprehensive income for the period was 170.546million,withaprofitof170.546 million, with a profit of 203.971 million[16] - The company's equity attributable to owners as of June 30, 2024, was $4.733 billion[16] - The company's equity attributable to owners