Financial Performance - For the six months ended June 30, 2024, the company reported revenue of $107,979,000, an increase of 30.4% compared to $82,810,000 for the same period in 2023[1] - Gross profit for the same period was $17,989,000, up from $16,531,000, reflecting a gross margin improvement[1] - The net profit attributable to shareholders was $1,963,000, slightly down from $2,027,000 in the previous year, indicating a decrease of 3.2%[2] - The company reported a basic and diluted earnings per share of $0.80, unchanged from the previous year[2] - The overall gross profit margin decreased from 20.0% in the first half of 2023 to 16.7% in the first half of 2024, primarily due to the increase in lower-margin trading business[32] - The profit attributable to shareholders for the first half of 2024 was $1.963 million, a decrease of 3.2% from $2.027 million in the first half of 2023[30] Assets and Liabilities - Total assets as of June 30, 2024, were $274,629,000, a decrease from $277,286,000 as of December 31, 2023[3] - Current assets increased to $160,501,000 from $155,033,000, primarily driven by an increase in cash and cash equivalents[3] - The company’s total liabilities increased to $133,730,000 from $124,376,000, with current liabilities rising to $109,388,000[3] - Non-current assets totaled $223,516,000, slightly up from $222,341,000, indicating stability in long-term investments[3] - The company’s net asset value decreased to $250,287,000 from $252,018,000, reflecting a slight decline in equity[4] - Total assets as of June 30, 2024, amounted to $384,017,000, with the biochemical segment accounting for $210,930,000 and the industrial segment for $122,906,000[12] - The group reported a total liability of $133,730,000, with the biochemical segment's liabilities at $46,866,000[12] - Trade receivables as of June 30, 2024, amounted to $67.417 million, an increase from $63.284 million as of December 31, 2023[26] - Trade payables as of June 30, 2024, were $25.305 million, compared to $19.600 million as of December 31, 2023[27] - Net debt decreased from $40.6 million on December 31, 2023, to $28 million on June 30, 2024, with a debt-to-equity ratio improving from 0.16 to 0.11[36] Segment Performance - The biochemical segment generated revenue of $107,979,000 for the six months ended June 30, 2024, compared to $82,810,000 for the same period in 2023, representing a growth of 30.4%[11] - The adjusted profit before tax for the biochemical segment was $4,954,000, while the industrial segment reported a loss of $(973,000), resulting in a total profit of $3,981,000 for the group[11] - The revenue contribution from the company's antibiotic products decreased from 48% in the first half of 2023 to 33% in the first half of 2024, while the contribution from animal health products increased from 52% to 67%[31] - The industrial business segment reported a slight increase of 4.7% in overall excavator market sales in China for the first half of 2024 compared to the same period in 2023[33] - The automotive parts manufacturing segment reported a profit of $1.16 million for the first half of 2024, up from $1.04 million in the same period of 2023[33] Income and Expenses - The group recognized bank interest income of $694,000 for the six months ended June 30, 2024, an increase from $505,000 in the same period of 2023[19] - The group’s total other income for the six months ended June 30, 2024, was $3,307,000, compared to $434,000 in the same period of 2023, showing a substantial increase[19] - The group’s financial costs, net of capitalized interest, were $1,249,000 for the six months ended June 30, 2024, compared to $711,000 in the same period of 2023[20] - The total tax expense for the first half of 2024 was $0.824 million, up from $0.424 million in the first half of 2023[23] Dividends and Outlook - The company did not declare an interim dividend for the first half of 2024, consistent with the first half of 2023[24] - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[41] - The company maintained a cautious outlook for the remainder of 2024, anticipating low fixed asset investment growth and continued intense industry competition[34] Accounting and Standards - The company did not adopt any new accounting standards that would have a significant financial impact during the reporting period[6] - There were no significant contingent liabilities reported as of June 30, 2024[39]
正大企业国际(03839) - 2024 - 中期业绩