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南华集团控股(00413) - 2021 - 中期财报
SC HOLDINGSSC HOLDINGS(HK:00413)2021-09-15 08:35

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 1,738,006, an increase of 11.7% compared to HKD 1,556,119 for the same period in 2020[3] - Gross profit for the period was HKD 189,475, representing a gross margin of approximately 10.9%, up from HKD 162,214 in 2020[3] - Operating loss decreased to HKD 23,784 from HKD 39,153 year-over-year, indicating improved operational efficiency[3] - Net loss for the period was HKD 109,216, compared to a net loss of HKD 146,549 in the previous year, reflecting a 25.5% reduction in losses[3] - The group reported a pre-tax loss of HKD (106,465,000) for the period, an improvement from HKD (141,659,000) in the previous year, showing a reduction in losses[63] - The group reported a post-tax loss of approximately HKD 109,200,000, an improvement from a loss of HKD 146,500,000 in the same period of 2020[112] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 15,435,358, an increase from HKD 15,097,785 at the end of 2020[51] - Current assets increased to HKD 4,235,560 from HKD 3,897,564, showing a growth of 8.7%[51] - Non-current assets totaled HKD 11,057,910, up from HKD 10,963,689, indicating a 0.9% increase[49] - Total liabilities increased to HKD 8,662,132 from HKD 8,177,753, reflecting a rise of 5.9%[51] - The company’s total liabilities decreased from HKD 6,393,021 thousand as of January 1, 2021, to HKD 6,631,338 thousand as of June 30, 2021, indicating a reduction of approximately 4.1%[53] - Total liabilities reached HKD 8,662,132, compared to HKD 8,177,753 in the prior year, indicating a year-over-year increase of approximately 5.9%[66] Cash Flow and Investments - The net cash outflow from operating activities for the six months ended June 30, 2021, was HKD 238,194 thousand, compared to HKD 156,890 thousand for the same period in 2020, indicating an increase of 51.6%[55] - Cash and cash equivalents at the end of the period were HKD 557,592 thousand, down from HKD 672,392 thousand at the end of June 30, 2020, reflecting a decrease of 17.0%[55] - The company incurred a net cash outflow from investing activities of HKD 17,002 thousand for the six months ended June 30, 2021, compared to HKD 14,481 thousand in the same period of 2020, representing an increase of 17.6%[55] - New bank loans added during the period amounted to HKD 1,684,274 thousand, while repayments of bank loans were HKD 1,358,783 thousand, resulting in a net cash inflow from financing activities of HKD 236,944 thousand[55] Shareholder Information - The company reported a basic loss per share of HKD 0.8, an improvement from HKD 1.1 in the previous year[16] - The loss per share attributable to equity holders was HKD 0.8 cents, improved from HKD 1.1 cents in 2020[113] - The company did not declare an interim dividend for the six months ended June 30, 2021, consistent with the previous year[72] - The company holds 61.22% of its ordinary shares, with significant holdings by major shareholders including 1,075,765,537 shares held by Ying Li[172] Revenue Breakdown - Revenue from the United States reached HKD 966,913,000, significantly up from HKD 498,414,000 in the previous year, marking an increase of approximately 93.8%[64] - Revenue from Europe was HKD 341,589,000, up from HKD 237,800,000, reflecting a growth of approximately 43.7% year-over-year[64] - The group's revenue from China, including Hong Kong and Macau, was HKD 291,842,000, down from HKD 691,368,000, indicating a decline of approximately 57.8%[64] - The trading and manufacturing segment generated revenue of approximately HKD 1,552,000,000, a 67% increase from HKD 931,000,000 in 2020, with an operating loss of approximately HKD 34,400,000[115] - OEM toy manufacturing revenue reached approximately HKD 1,470,000,000, a 68% increase compared to HKD 874,000,000 in 2020[116] - Footwear trading business revenue increased by 39% to approximately HKD 68,200,000, up from HKD 48,900,000 in 2020[119] Operational Challenges - The group faced significant challenges in cost control due to rising production and logistics costs, including labor and material costs[116] - The management anticipates challenges and uncertainties in the second half of 2021 due to the Delta variant, US-China trade tensions, and RMB appreciation[134] - The company is exposed to risks from natural disasters affecting its agricultural operations, which could lead to reduced yields or production delays[148] - The company is subject to increased costs due to raw materials, transportation, and compliance with minimum wage legislation in mainland China[145] Corporate Governance - The company has established an Audit Committee consisting of five members, including four independent non-executive directors and one non-executive director[194] - The company has adopted a standard code of conduct for directors regarding securities trading[192] - The Audit Committee reviewed the unaudited interim financial statements for the six months ended June 30, 2021, and deemed them to be prepared in accordance with applicable accounting standards[194] - The company complied with the corporate governance code, except for certain deviations related to the absence of directors at the annual general meeting[183]