Financial Performance - Revenue for the six months ended June 30, 2021, was $54,324,000, an increase of 20.4% compared to $45,157,000 for the same period in 2020[3] - Gross profit for the same period was $12,901,000, representing a gross margin of 23.7%, up from $11,479,000 in 2020[3] - Net profit attributable to the company's owners for the six months was $3,815,000, a significant increase of 139.0% from $1,590,000 in the prior year[3] - The company reported a total comprehensive income of $4,324,000 for the period, compared to a loss of $1,536,000 in the same period last year[4] - Operating profit for the six months ended June 30, 2021, was $5.303 million, up from $2.610 million in the same period of 2020, indicating a significant improvement in operational efficiency[18][21] - The company reported a net profit of $3.815 million for the six months ended June 30, 2021, compared to $1.590 million for the same period in 2020, reflecting a 139.5% increase in profitability[25] - The company's basic and diluted earnings per share for the period were both $0.054, compared to $0.023 in the same period last year, reflecting a growth of 134.8%[3] Cash Flow and Assets - Cash and cash equivalents at the end of the period increased to $28,087,000 from $21,373,000 at the beginning of the period, reflecting a net increase of $6,205,000[11] - Operating cash flow for the six months was $7,051,000, down from $13,652,000 in the previous year, indicating a decrease of 48.7%[11] - Total assets less current liabilities as of June 30, 2021, were $387,284,000, an increase from $383,262,000 at the end of 2020[7] - As of June 30, 2021, the total assets of the group were approximately $408.7 million, up from approximately $399.1 million as of December 31, 2020[41] - The net current assets as of June 30, 2021, were approximately $348.8 million, compared to $344.1 million on December 31, 2020[54] - The group had no bank borrowings as of June 30, 2021, and the debt-to-equity ratio was 0.2%[54] Inventory and Receivables - The company’s inventory stood at $315,950,000, slightly up from $314,981,000 in the previous year[6] - Trade receivables increased to $25,173,000 from $20,783,000, indicating a growth of 21.7%[6] - The aging analysis of trade receivables showed a total of $25.173 million as of June 30, 2021, compared to $20.783 million as of December 31, 2020[27] - The group reported other receivables and prepayments totaling $875,000 as of June 30, 2021, down from $2.624 million as of December 31, 2020[28] Liabilities and Payables - Trade payables amounted to $8.525 million as of June 30, 2021, compared to $7.232 million as of December 31, 2020[30] - Other payables and accrued expenses totaled $9.298 million as of June 30, 2021, compared to $7.626 million as of December 31, 2020[31] Business Operations and Investments - The company purchased approximately $710,000 worth of property, plant, and equipment during the six months ended June 30, 2021, compared to $644,000 in the same period of 2020, indicating ongoing investment in infrastructure[26] - The company has been engaged in the production and sale of graphite products globally for over 10 years, which is considered a major channel for profit growth[42] - The graphite business generated revenue of approximately $15.7 million for the six months ended June 30, 2021, a significant increase of 248.9% from approximately $4.5 million in the same period last year, driven by increased demand and production[50] - The electronic manufacturing services business reported revenue of approximately $37.7 million for the six months ended June 30, 2021, a decrease of about $2.5 million or 6.2% compared to approximately $40.2 million in the same period last year[50] COVID-19 Impact - The impact of the COVID-19 pandemic has led to a decline in demand for graphite products, but there has been a recent recovery in demand as the economy gradually recovers[48] - The company is monitoring the ongoing developments of the COVID-19 pandemic, which may affect its business operations and financial performance[51] - The company has no plans to cease any business operations due to the pandemic, despite taking precautionary measures in the graphite market[51] - The company expects to maintain the level of business achieved in 2020 throughout 2021, despite challenges posed by the pandemic[53] - The company adjusted the construction timeline for its Madagascar graphite production line due to the pandemic[47] Shareholder Information - The group did not declare any interim dividend for the six months ended June 30, 2021[32] - No major shareholders or other individuals held any interests, short positions, or lendable shares in the company's securities as of June 30, 2021[83] - No directors had any direct or indirect significant interests in any contracts of the company or its subsidiaries that were material to the business during the six months ended June 30, 2021[81] Audit and Reporting - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial statements for the six months ended June 30, 2021[84] - The interim report will be published on the Hong Kong Stock Exchange and the company's website by September 30, 2021[85]
谊砾控股(00076) - 2021 - 中期财报