Financial Performance - The total revenue for the six months ended June 30, 2023, was HKD 2,119,928, compared to HKD 2,119,850 for the same period in 2022, indicating a slight increase[45]. - The group's revenue for the period was approximately HKD 1,411,114,000, a decrease of 6% compared to the same period last year[89]. - The company's revenue for the six months ended June 30, 2023, was HKD 1,961,107, a decrease of 7.5% compared to HKD 2,119,928 for the same period in 2022[121]. - The total revenue for the period was approximately HKD 1,961,107,000, a decrease of 7% compared to the same period last year, primarily due to lower commodity prices including steel[185]. - Profit attributable to shareholders increased by 64% to approximately HKD 63,078,000 compared to the same period last year[87]. - The net profit for the period was HKD 73,116, which is a significant increase of 63.7% compared to HKD 44,731 in the prior year[121]. - The company reported a profit before interest and tax of approximately HKD 42,301,000 for the steel wire and wire rope products business, an increase of 42% compared to the previous year[63]. Assets and Liabilities - For the six months ended June 30, 2023, the total assets of Golik Holdings Limited amounted to HKD 2,303,477,000, compared to HKD 2,285,686,000 for the same period in 2022, representing an increase of 0.78%[5]. - The total liabilities for the six months ended June 30, 2023, were HKD 1,515,887,000, slightly up from HKD 1,506,140,000 in the previous year, marking an increase of 0.12%[7]. - The total liabilities include bank borrowings of HKD 1,006,161,000, a decrease from HKD 1,250,243,000 at the end of 2022[132]. - Non-current assets decreased from HKD 696,854,000 as of December 31, 2022, to HKD 696,854,000 as of June 30, 2023, reflecting a decline of 7.03%[5]. - Current assets increased from HKD 1,588,832,000 as of December 31, 2022, to HKD 1,606,623,000 as of June 30, 2023, indicating a growth of 1.12%[5]. - Cash and cash equivalents at the end of the period were HKD 500,787, down from HKD 551,900 at the end of the previous year[39]. - The company's net current assets increased to HKD 819,033,000 from HKD 756,567,000[162]. Dividends - The company declared a final dividend of HKD 0.03 per share for the year ended December 31, 2022, with total dividends payable amounting to HKD 17,231,000[22]. - The company declared an interim dividend of HKD 0.025 per share, totaling HKD 14,359,000, an increase from HKD 11,488,000 in the previous year[150]. Operational Efficiency and Market Focus - The management has indicated a focus on enhancing operational efficiency and exploring new market opportunities in the upcoming periods[35]. - The construction materials business is expected to benefit from the Hong Kong government's infrastructure projects, including the construction of over 300,000 public housing units in the next decade[68]. - The group experienced a significant recovery in business performance starting from the second quarter, capitalizing on market opportunities and expanding existing metal product lines[77]. Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2023, was HKD 1,100,512, a decrease of 11% compared to HKD 1,237,776 for the same period in 2022[39]. - The net cash used in investing activities was HKD 1,733, compared to a net cash outflow of HKD 29,207 in the previous year[39]. - The net cash used in financing activities was HKD 1,139,681, down from HKD 1,324,614 in the prior year[39]. Inventory and Receivables - The inventory as of June 30, 2023, was HKD 845,249,000, an increase from HKD 784,999,000 as of December 31, 2022, representing a rise of 7.67%[5]. - Trade and other receivables were reported at HKD 957,426,000 as of June 30, 2023, slightly down from HKD 959,118,000 in the previous year, a decrease of 0.18%[5]. - The net amount of receivables aged 0 to 30 days increased significantly to HKD 242,738,000 from HKD 68,466,000 year-on-year[80]. - Trade receivables amounted to HKD 902,798,000, with an expected credit loss of HKD 47,909,000, compared to HKD 901,147,000 and HKD 44,304,000 respectively at the end of 2022[152]. Financial Ratios and Performance Metrics - The group's current ratio as of June 30, 2023, was 1.55:1, compared to 1.49:1 as of December 31, 2022[90]. - The company's administrative expenses slightly increased to HKD 90,828 from HKD 89,160, reflecting a marginal rise of 1.9%[121]. - Financial expenses rose to HKD 23,907, compared to HKD 14,987 in the previous year, marking an increase of 59.5%[121]. - The company's expected credit loss impairment decreased to HKD 1,691 from HKD 3,215, showing a reduction of 47.4%[121]. Employee and Shareholder Information - The group employed 1,493 staff members as of June 30, 2023, with compensation based on performance, qualifications, and industry standards[190]. - There were no significant changes in major shareholders' interests, with no individuals holding 5% or more of the shares as of June 30, 2023[114]. - The group maintained a consistent capital structure with 574,378,128 issued ordinary shares as of June 30, 2023, unchanged from December 31, 2022[189].
高力集团(01118) - 2023 - 中期财报