百富环球(00327) - 2023 - 中期财报

Financial Performance - Revenue decreased by 14.7% to HK$3,568.6 million for the six months ended June 30, 2023, compared to HK$4,182.5 million for the same period in 2022[9] - Gross profit for the period was HK$1,570.9 million, representing a decrease of 6.0$1,671.3 million in the previous year[5] - Operating profit declined by 11.7% to HK$689.6 million, down from HK$781.1 million in the prior year[5] - Profit attributable to the owners of the Company was HK$650.6 million, a decrease of 7.0$699.8 million in 2022[5] - Profit for the period was HK$659.6 million, representing a decrease of 6.3$703.8 million for the six months ended June 30, 2022[20] - Basic earnings per share decreased by 6.7% to HK$0.603 from HK$0.646 in the previous year[6] - Total comprehensive income for the period was HK$582,511, an increase from HK$517,277 in 2022, driven by lower exchange losses[111] Revenue Breakdown - Revenue from E-payment Terminals products decreased by 15.8% to HK$3,444.4 million for the six months ended 30 June 2023 from HK$4,091.0 million for the same period in 2022[12] - Revenue from provision of services increased by 35.6% to HK$124.1 million for the six months ended 30 June 2023 from HK$91.5 million for the same period in 2022[13] - The USCA region recorded a revenue growth of 20.2% to HK$591.4 million, driven by increased demand for Android smart payment terminals[9] - Revenue from the LACIS region decreased by 18.0$1,371.1 million, while EMEA revenue fell by 19.1% to HK$1,155.9 million[9] Expenses and Costs - Research and development costs increased by 14.9$306.9 million, compared to HK$267.0 million in the previous year[5] - Selling expenses decreased by 7.1$354.4 million for the six months ended June 30, 2023 from HK$381.4 million for the same period in 2022[18] - Administrative expenses increased by 7.3$581.0 million for the six months ended June 30, 2023 from HK$541.3 million for the same period in 2022[19] Assets and Liabilities - Total current assets decreased by 7.2$7,585.3 million as of June 30, 2023, from HK$8,173.0 million at the end of 2022[5] - Total equity increased by 4.9$7,245.8 million compared to HK$6,905.9 million at the end of 2022[5] - Total assets decreased from HK$9,490,329,000 as of December 31, 2022, to HK$8,958,231,000 as of June 30, 2023, representing a decline of approximately 5.6$2,509,506,000 to HK$1,634,863,000, a reduction of approximately 34.8$111.7 million, a significant improvement from a net cash used of HK$34.6 million in the same period of 2022[52] - Cash and cash equivalents decreased from HK$3,160,238,000 to HK$2,876,585,000, a drop of approximately 9.0$108,202,000, down from HK$158,738,000 in the same period of 2022[125] Shareholder Information - The board declared an interim dividend of HK$0.21 per ordinary share for the six months ended June 30, 2023, compared to HK$0.17 per share for the same period in 2022[72] - A total of 1,432,000 share options were exercised during the six months ended June 30, 2023, with a weighted average closing price of HK$6.48 per share before exercise[75] - The total number of issued shares as of June 30, 2023, was 1,075,327,000 ordinary shares[84] Market and Economic Outlook - The global economic growth is projected to decline from 3.5% in 2022 to 3.0% in 2023, impacting customer deployment plans[29] - The electronic payment industry in the Middle East and Africa continues to flourish, with notable sales growth recorded in Nigeria, South Africa, and the UAE[40] - The global retail POS market size is projected to grow from US$16.2 billion in 2022 to US$34.6 billion in 2030, with a compound annual growth rate (CAGR) of 13.5%[48] Corporate Governance and Compliance - The company has complied with all applicable corporate governance code provisions for the six months ended June 30, 2023[95] - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[133] Research and Development - PAX launched several new products in the first half of 2023, including Android smart payment solutions and the Elys series, which received international design awards[35] - The Group is focused on strengthening its technological innovation capabilities and building higher technical barriers with Android smart terminals and the SaaS ecosystem[47]