Financial Performance - Total revenue for the six months ended June 30, 2023, was $3,085,000, a decrease of 41.5% compared to $5,261,000 for the same period in 2022[3] - Gross profit for the same period was $1,895,000, down 30.4% from $2,720,000 in 2022[3] - The company reported a profit attributable to owners of $297,000, a decline of 39.2% from $489,000 in the previous year[3] - Revenue from the production and sale of footwear products was $784,000, a significant drop of 72.5% from $2,847,000 in 2022[10] - Rental income from leased properties was $2,301,000, slightly down from $2,414,000 in the previous year[10] - The total comprehensive income for the period was $502,000, compared to a loss of $1,613,000 in the same period last year[5] - The segment performance for shoe products reported a loss of $383,000, while rental properties generated a profit of $2,129,000, resulting in a total segment profit of $1,746,000[14] - The company reported a pre-tax profit of $189,000 for the six months ended June 30, 2023, down from $556,000 in the same period of 2022, reflecting a decline of 66.0%[14][18] - Basic earnings per share for the period were $297,000, compared to $489,000 for the same period in 2022, indicating a decrease of 39.2%[22] - Basic earnings per share for the six months ended June 30, 2023, were 0.04 cents, compared to 0.07 cents for the same period in 2022[35] Cash Flow and Assets - The cash and cash equivalents increased to $10,535,000 as of June 30, 2023, compared to $8,588,000 at the beginning of the period[6] - The company generated a net cash inflow from operating activities of $1,899,000, an increase from $1,747,000 in the same period last year[6] - The company's total equity increased to $79,049,000 as of June 30, 2023, from $78,547,000 at the end of the previous year[4] - The company’s non-current assets, including investment properties, totaled $87,799,000, remaining relatively stable compared to $87,822,000 at the end of 2022[4] - Trade receivables decreased significantly to $369,000 as of June 30, 2023, from $1,741,000 as of December 31, 2022, representing a decline of 78.8%[26] - The fair value of financial assets measured at fair value through profit or loss was $567,000 as of June 30, 2023, compared to $451,000 as of December 31, 2022[31] - As of June 30, 2023, the group's net asset value was $79,049,000, with current assets of $12,426,000 and current liabilities of $4,031,000, resulting in a current ratio of 3.1[37] - The group had cash and cash equivalents of $10,535,000 as of June 30, 2023, an increase from $8,588,000 on December 31, 2022[37] - The current ratio improved from 3.0 as of December 31, 2022, to 3.1 as of June 30, 2023, indicating a stable financial position[37] - The company has no bank borrowings as of June 30, 2023, relying on operating cash flow to meet its obligations[37] Expenses and Costs - The total employee costs for the period were $1,142,000, down from $1,592,000 in the previous year, reflecting a reduction of 28.3%[18] - The company incurred interest expenses on lease liabilities of $21,000 for the six months ended June 30, 2023, compared to $19,000 for the same period in 2022[17] - The company has implemented strategies to control expenses and reduce costs in response to ongoing economic challenges and declining market demand[36] Dividends and Shareholder Information - The company declared an interim dividend of HK$0.01 per share, consistent with the previous year's interim dividend[21] - The company declared an interim dividend of 1.0 HKD cent per ordinary share for the six months ended June 30, 2023[33] - The total issued shares of the company amounted to 468,743,940, with Pegasus Footgear Management Limited holding a 64% stake[43] - The board members collectively held 9,000,000 shares, representing 1.23% of the total issued shares[38] - No arrangements were made for the purchase of shares or debt securities by the company's directors during the reporting period[41] - The company did not buy, sell, or redeem any of its listed securities in the six months ending June 30, 2023[44] Governance and Compliance - The company maintained compliance with all provisions of the corporate governance code during the reporting period, except for a minor oversight regarding the appointment of independent non-executive directors[45] - The audit committee reviewed the group's unaudited consolidated financial information for the six months ending June 30, 2023, discussing risk management and internal controls[47] Business Strategy - The company continues to seek suitable tenants for its rental business to diversify its revenue streams amid a challenging economic environment[36] - The company has made adequate provisions for employee claims related to housing provident funds, with ongoing legal proceedings[29] - The average credit period granted to trade customers is 60 days, with trade receivables aging analysis showing a significant reduction in amounts overdue[26] - The average credit period for purchased goods is 90 days, with trade payables aging analysis showing $511,000 overdue by more than 60 days as of June 30, 2023[27]
创信国际(00676) - 2023 - 中期财报