Revenue and Profit Performance - The group's revenue decreased from approximately HKD 451 million to HKD 436 million, a decline of 3%[2] - Profit attributable to the company's owners increased from HKD 63 million to HKD 81 million, an increase of approximately 29%[4] - The gross profit decreased from HKD 73 million to HKD 61 million, with a gross margin decline from 16.3% to 14.1%[4] - Revenue for the six months ended September 30, 2020, was HKD 435.6 million, a decrease of 3.0% from HKD 451.0 million in the same period of 2019[28] - Gross profit for the same period was HKD 61.4 million, down 16.4% from HKD 73.4 million year-on-year[28] - Profit attributable to owners of the company was HKD 81.3 million, an increase of 28.7% compared to HKD 63.1 million in the previous year[29] - The company reported a total comprehensive income of HKD 165.4 million, compared to a loss of HKD 13.2 million in the same period last year[29] - The company reported a net profit of HKD 81,277,000 for the six months ended September 30, 2020, compared to HKD 63,127,000 for the same period in 2019, representing a year-on-year increase of approximately 28.5%[57] Investments and Joint Ventures - Profit from the investment in Nantong Jianghai increased by HKD 16 million or 34% to HKD 63 million[6] - The investment in Suzhou Qingyue, a joint venture with a 35.1% stake, generated a profit of approximately HKD 14,000,000, an increase of HKD 6,000,000 compared to last year, driven by strong sales growth in the medical equipment and healthcare products market[7] - The investment in Zaozhuang Ruino, a joint venture with a 40% stake, recorded a loss of HKD 1,000,000, which is a reduction of HKD 500,000 from the previous year, primarily due to slower-than-expected product development[8] Revenue by Product Segment - Revenue from LCD sales slightly increased by 3% to HKD 94 million, driven by growth in the healthcare products sector[4] - Revenue from LCM sales decreased from HKD 297 million to HKD 294 million, while sales of monochrome LCMs declined[4] - Revenue from LCD and LCD module products for the six months ended September 30, 2020, was HKD 435.593 million, a decrease of 3.0% from HKD 450.957 million in the same period of 2019[45] - Segment profit for LCD and LCD module products was HKD 26.768 million, slightly down from HKD 27.078 million year-on-year[45] - Total revenue from external customers in Hong Kong was HKD 41.402 million, down 17.5% from HKD 50.217 million in 2019[49] - Revenue from mainland China increased to HKD 86.964 million, up 12.0% from HKD 77.195 million in the previous year[49] Financial Position and Ratios - As of September 30, 2020, the current ratio was 1.9, down from 2.3 as of March 31, 2020, while the capital debt ratio remained stable at 0.2%[11] - Total assets as of September 30, 2020, were approximately HKD 2,343,000,000, funded by liabilities of HKD 391,000,000 and total equity of HKD 1,952,000,000[11] - Total equity increased to HKD 1,951,661 thousand, up from HKD 1,838,184 thousand, representing a growth of approximately 6.1%[33] - Current assets rose to HKD 604.3 million, up from HKD 517.9 million at the end of the previous fiscal year[30] - Current liabilities increased to HKD 320.5 million, compared to HKD 228.8 million as of March 31, 2020[30] - The company’s trade payables increased to HKD 140,721,000 as of September 30, 2020, compared to HKD 106,418,000 as of March 31, 2020, representing an increase of approximately 32.2%[61] Cash Flow and Dividends - Cash flow from operating activities before changes in working capital was HKD 47,960 thousand, an increase from HKD 44,360 thousand year-over-year, indicating a growth of approximately 3.6%[38] - The company reported a net cash outflow from investing activities of HKD 35,240 thousand, compared to HKD 29,547 thousand in the previous year, showing an increase of about 19.4%[38] - The company declared dividends amounting to HKD 149,946 thousand during the period, consistent with the previous year's distribution[35] - The company declared a dividend of HKD 49,982,000 for the six months ended September 30, 2020, consistent with the dividend declared in the same period of 2019, which was HKD 149,946,000 for the entire year[56] Government Grants and Other Income - Other income increased to approximately HKD 15 million, primarily due to increased government subsidies[4] - Government grants received amounted to HKD 9.893 million, a significant increase from HKD 140,000 in the same period last year[50] - The company reported a total of HKD 14.507 million in other income, compared to HKD 7.234 million in the previous year, marking an increase of 100.0%[50] Outlook and Risks - The company maintains a cautious outlook for the second half of the year due to uncertainties caused by the pandemic[3] - The group maintains a cautious outlook for the second half of the fiscal year due to uncertainties in global economic recovery, focusing on product development in LCM, TFT modules, and CTP modules to capture more market share[10] - The group continues to monitor foreign exchange risks and considers hedging significant foreign currency risks when necessary[11] Compliance and Governance - The board is reviewing compliance with corporate governance codes and may amend the company's articles of association if necessary[21] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed financial reporting matters[23]
亿都(国际控股)(00259) - 2021 - 中期财报