Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 2,726,382 thousand, an increase from HKD 2,228,388 thousand in the same period of 2022, representing a growth of approximately 22.4%[3] - Gross profit for the period was HKD 497,994 thousand, down from HKD 516,400 thousand year-over-year, indicating a decrease of about 3.9%[3] - Operating profit increased to HKD 371,685 thousand, compared to HKD 320,470 thousand in the previous year, reflecting a growth of approximately 15.9%[3] - Net profit for the period was HKD 305,583 thousand, up from HKD 255,130 thousand, marking an increase of around 19.8%[4] - Basic and diluted earnings per share rose to HKD 12.7, compared to HKD 10.2 in the same period last year, representing a growth of approximately 24.5%[3] - Total comprehensive income for the period was HKD 276,340 thousand, compared to HKD 223,940 thousand, indicating an increase of about 23.4%[6] Assets and Liabilities - Total equity as of September 30, 2023, was HKD 2,740,338 thousand, up from HKD 2,477,674 thousand as of March 31, 2023, reflecting a growth of approximately 10.6%[12] - Total liabilities increased to HKD 2,056,060 thousand from HKD 1,951,427 thousand, representing an increase of about 5.4%[12] - Cash and cash equivalents decreased to HKD 872,230 thousand from HKD 714,432 thousand, indicating a decrease of approximately 22.1%[12] - The group's non-current assets as of September 30, 2023, amounted to HKD 2,363,134 thousand, slightly down from HKD 2,382,275 thousand as of March 31, 2023, indicating a decrease of about 0.80%[27] - The group's total assets reached HKD 4,796,398 thousand as of September 30, 2023, up from HKD 4,429,101 thousand as of March 31, 2023, representing an increase of approximately 8.29%[27] Revenue Breakdown - For the six months ended September 30, 2023, total revenue was HKD 2,168,642 thousand, a decrease from HKD 2,191,186 thousand for the same period in 2022, representing a decline of approximately 1.03%[20] - Revenue from Customer A was HKD 1,307,649, a decrease of 7.1% compared to HKD 1,407,195 for the same period in 2022[38] - Revenue from Japan for the six months ended September 30, 2023, was HKD 764,182, a decrease of 17.7% from HKD 928,368 in the previous year[46] - Revenue from North America decreased by 18.5% to HKD 423,311 compared to HKD 519,238 for the same period in 2022[46] - Revenue from Europe decreased by 19.2% to HKD 511,823 from HKD 633,759 in the previous year[46] - Revenue from mainland China was HKD 524,447, a slight decrease of 4% from HKD 546,430 in the same period of 2022[46] Expenses and Income - Total expenses for the six months ended September 30, 2023, amounted to HKD 2,408,435, a decrease of 16.5% from HKD 2,884,127 in the same period of 2022[40] - Other income for the six months ended September 30, 2023, totaled HKD 46,676, down 38.3% from HKD 75,629 in the previous year[39] - The company reported a financial income of HKD 10,628 thousand, compared to a financial expense of HKD 33,684 thousand in the previous period, showing a significant improvement in financial performance[3] Cash Flow and Financing - The net cash generated from operating activities for the six months ending September 30, 2023, was HKD 383.6 million, primarily due to a profit before tax of HKD 349.4 million adjusted for depreciation and inventory reduction[142] - The net cash used in investment activities for the six months ended September 30, 2023, was HKD 34.1 million, primarily due to the acquisition of properties, plants, and equipment amounting to HKD 72.8 million, offset by proceeds from the sale of properties, plants, and equipment of HKD 28.1 million[143] - The group’s cash flow from financing activities generated a net cash inflow of HKD 52.9 million for the six months ended September 30, 2023[180] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.095 per share, increasing the payout ratio to approximately 75%[79] - The board has declared an interim dividend of HKD 0.095 per share for the six months ended September 30, 2023, compared to HKD 0.051 per share in 2022[171] Operational Insights - The company has increased its production capacity in Vietnam to meet customer demand and enhance operational agility[75] - The company is facing challenges in its Myanmar manufacturing facility due to political considerations affecting customer purchasing decisions[100] - The company plans to continue innovating and enhancing product design capabilities to meet changing customer preferences in rapidly evolving end markets[101] Market Conditions and Future Outlook - The company expects a long-term growth rate of 3.00% per annum based on economic factors such as GDP growth and inflation[42] - The group anticipates further delays in production and sales orders from its Myanmar production base due to ongoing economic and political uncertainties[110] - The company is committed to enhancing renewable energy levels at production bases in response to energy-saving initiatives in mainland China[101]
南旋控股(01982) - 2024 - 中期业绩