Financial Performance - Revenue for the six months ended June 30, 2024, was $1,094 million, an increase of 8.4% compared to $1,009 million for the same period in 2023[3] - Net profit for the six months ended June 30, 2024, was $84 million, up 13.5% from $74 million in the same period last year[3] - Gross profit for the six months ended June 30, 2024, was $213.5 million, compared to $192.7 million for the same period in 2023, reflecting a gross margin improvement[5] - The total comprehensive income for the period was $76.4 million, compared to $66.5 million in the same period last year, showing overall financial health improvement[5] - Total revenue for the six months ended June 30, 2024, was $1,093.672 million, with external sales from leisurewear, outdoor apparel, denim, intimate apparel, and knitwear contributing significantly[19] - The company's pre-tax profit for the six months ended June 30, 2024, was $84,012,000, compared to $73,642,000 for the same period in 2023, showing an increase of 14.5%[29] Dividends and Earnings - The board declared an interim dividend of 13.8 HK cents (approximately 1.8 US cents) per share, significantly higher than 5.0 HK cents declared in the previous year[3] - The company's basic earnings per share for the six months ended June 30, 2024, was 2.94 US cents, compared to 2.58 US cents in the previous year[6] - The interim dividend declared was 13.8 HK cents per share, compared to 11.8 HK cents per share for the previous year, representing a 16.9% increase[28] Regional Revenue Growth - Revenue for the Asia-Pacific region reached $417,729,000, up from $381,530,000, representing a growth of 9.0% year-over-year[24] - North America generated revenue of $414,566,000, an increase from $389,087,000, reflecting a growth of 6.5% year-over-year[24] - European revenue was $230,447,000, compared to $202,739,000, marking an increase of 13.7% year-over-year[25] Expenses and Costs - Research and development expenses increased to $15.7 million from $13.9 million year-over-year, indicating a focus on innovation[5] - Total employee costs amounted to $280,651,000, up from $268,705,000, which is an increase of 4.5% year-over-year[25] - The company incurred administrative expenses of $86.814 million and research and development expenses of $15.721 million during the same period[19] Asset Management - Total assets as of June 30, 2024, amounted to $2,058.9 million, up from $1,974.6 million at the end of 2023[8] - Non-current assets decreased slightly to $837.2 million from $839.5 million, reflecting stable asset management[7] - Trade receivables increased to $183.6 million from $118.8 million, indicating growth in sales and credit management[8] Sustainability Initiatives - The company aims to achieve net-zero emissions by 2050 and has set a mid-term target to reduce total greenhouse gas emissions by 35% by 2030[57] - In 2023, the company completed a comprehensive net-zero roadmap, which includes energy efficiency measures and renewable energy initiatives, targeting a 35% reduction in greenhouse gas emissions across all factories[58] - The company has increased its rooftop solar photovoltaic capacity fourfold since the end of 2021, reaching approximately 20 terawatt-hours, with more systems being installed or planned[58] - The company’s CDP climate change rating improved from B (Management) in 2022 to A (Leadership) in 2023, reflecting its leadership in climate transition and emissions management[60] Operational Efficiency - The company is focusing on vertical development, automation upgrades, and digital transformation to enhance operational efficiency[42] - The company anticipates improved operational efficiency and profit margins as production capacity increases in the second half of the year[63] - Capital expenditures in the second half of the year are expected to exceed those in the first half, focusing on digital transformation and automation[63] Governance and Compliance - The company has maintained compliance with the public float requirements set by the Hong Kong Stock Exchange[66] - The board has reviewed and confirmed adherence to corporate governance codes throughout the reporting period[67] - The Audit Committee has not changed its composition as of June 30, 2024, and continues to oversee the financial reporting and internal control systems of the group[69] Employee Engagement - The company promotes a culture of health and wellness among employees, including sports activities and fitness programs[62] - The total number of employees increased to 70,000 by the end of the first half of the year, with an addition of 5,000 employees in the second quarter[63] - The company has empowered over 66,000 female employees through the CAREii program aimed at improving gender equality and work efficiency[61]
晶苑国际(02232) - 2024 - 中期业绩