Financial Performance - Revenue for the six months ended June 30, 2021, was $74.8 million, an increase of 27.7% from $58.6 million in the same period of 2020[8]. - Gross profit for the same period was $29.1 million, representing a 92.4% increase from $15.1 million year-over-year[8]. - Profit attributable to owners of the parent reached $10.7 million, up 143.1% from $4.4 million in the prior year[8]. - Earnings per share increased to 0.43 US cents, a rise of 138.9% compared to 0.18 US cents in the previous year[8]. - Total comprehensive income for the period was $10.6 million, compared to $4.3 million in the same period of 2020[15]. - The Group's profit for the period attributable to owners of the parent was US$10,710,000, representing an increase of 143.5% compared to US$4,406,000 in the first half of 2020[95]. Assets and Equity - Total assets as of June 30, 2021, were $113.3 million, reflecting a 20.2% increase from $94.2 million at the end of 2020[8]. - Shareholders' funds increased to $72.0 million, a 13.4% rise from $63.4 million in the previous year[8]. - Total non-current assets increased to US$10,327,000 as of June 30, 2021, compared to US$7,450,000 as of December 31, 2020, reflecting a growth of 38%[19]. - Total current assets rose to US$102,980,000 as of June 30, 2021, up from US$50,827,000 at the end of 2020, representing a 102% increase[19]. - Total equity attributable to owners of the parent increased to US$71,957,000 as of June 30, 2021, compared to US$63,432,000 at the end of 2020, marking a rise of 13%[19]. Liabilities - Total current liabilities amounted to US$39,455,000 as of June 30, 2021, compared to US$30,680,000 at the end of 2020, indicating a rise of 29%[19]. - The Group's net trade receivables, including other receivables, totaled US$22,138,000, up from US$15,288,000, marking a 44.8% increase[110]. - Trade payables rose to US$17,554,000 as of June 30, 2021, compared to US$15,717,000 at the end of 2020, indicating a growth of 11.7%[117]. - Contract liabilities increased significantly to US$6,572,000 from US$2,598,000, representing a growth of 153.5%[117]. Cash Flow - Net cash flows from operating activities decreased to $7,640,000 for the six months ended June 30, 2021, down from $16,290,000 in the same period of 2020, representing a decline of approximately 53.1%[27]. - Cash and cash equivalents at the end of the period increased to $54,634,000, up from $33,418,000 at the end of June 2020, marking a growth of 63.2%[27]. - The company reported a net increase in cash and cash equivalents of $3,925,000 for the first half of 2021, a decrease from $15,359,000 in the same period of 2020, indicating a decline of 74.5%[27]. Research and Development - Research and development costs for the period were $12.1 million, up from $7.9 million in the same period last year[13]. - The Group aims to develop new micro-LED products and achieve technological breakthroughs in micro-LED and mini LED markets[199]. - Research and development efforts will focus on advancing e-paper products to seven colors or full color to meet growing market demand[196]. Market and Sales - Sales for the six months ended June 30, 2021, amounted to US$74,828,000, representing a 27.7% increase from US$58,574,000 in the same period of 2020[63]. - Revenue from Hong Kong was US$40,220,000, up 28.5% from US$31,281,000 in 2020, while revenue from Taiwan increased by 22.3% to US$14,112,000 from US$11,539,000[69]. - New Display ICs generated US$31,696,000 in revenue, a significant increase of 94.8% compared to US$16,298,000 in the first half of 2020[74]. - The Group's PMOLED display driver IC orders continued to grow steadily, driven by increased demand for handheld healthcare devices[186]. - The sales of New Display business significantly contributed to the overall sales growth during the review period[187]. Share Capital and Options - The issued capital increased to US$32,083,000 as of June 30, 2021, from US$31,977,000 at the end of 2020, showing a slight increase of 0.3%[23]. - The number of outstanding share options at the end of the period was 12,900,000, with a weighted average exercise price of HK$0.478[131]. - A total of 5,400,000 share options were granted on June 1, 2021, with an exercise price of HK$0.840 per share[144]. Industry Trends - The semiconductor industry maintained growth momentum due to the recovery of global economies, particularly in mainland China, driving demand for IC-driven products and solutions[176]. - Future growth opportunities are expected as demand for chip-based products surges in a post-COVID-19 environment, particularly in 5G communications and high-speed bandwidth applications[182]. - The global chip shortage began in the second half of 2020, with increased orders from sectors such as automotive and consumer electronics, leading to longer-term commitments from customers[178].
晶门半导体(02878) - 2021 - 中期财报