Financial Performance - The total revenue for the first half of the year was HKD 589,659,000, an increase of 9% compared to HKD 539,403,000 in the same period last year[3]. - The overall gross profit rose to HKD 384,023,000, up 32% from HKD 290,648,000 year-on-year, with a gross margin of approximately 54.9%, down 0.9 percentage points from 55.8%[4]. - Operating profit for the period was HKD 81,145,000, representing a 42% increase from HKD 57,326,000 in the previous year, with an operating margin of 14% compared to 11% last year[8]. - Net profit attributable to the company's owners was HKD 78,988,000, a 42% increase from HKD 55,792,000 year-on-year, while excluding the fair value loss of investment properties, profit would be HKD 95,009,000, up 36% from HKD 70,111,000[9]. - For the six months ended June 30, 2021, the company reported revenue of HKD 589,659,000, an increase of 9.5% compared to HKD 539,403,000 for the same period in 2020[34]. - Gross profit for the same period was HKD 384,023,000, representing a significant increase of 32.1% from HKD 290,648,000 in the previous year[34]. - The operating profit for the six months ended June 30, 2021, was HKD 81,145,000, compared to HKD 0 for the same period in 2020[34]. - The net profit attributable to the company's owners for the period was HKD 78,988,000, up from HKD 55,792,000 in the prior year, reflecting a growth of 41.5%[36]. Sales and Revenue Breakdown - Domestic apparel sales amounted to HKD 436,116,000, a 6% increase year-on-year, but a 3% decrease when calculated in RMB due to currency fluctuations[10]. - The revenue from operating rights for various products increased by approximately 73% to HKD 45,558,000, due to last year's fee reductions related to the pandemic[14]. - In Singapore, sales for the eyewear business reached HKD 16,000, an increase of about 2% from HKD 15,864,000 in the same period last year[15]. - The sales of goods accounted for HKD 452.224 million, up from HKD 427.363 million, reflecting a growth of 5.8% year-on-year[65]. Expenses and Costs - The overall expenses for distribution and marketing rose to HKD 201,829,000, a 38% increase from HKD 145,861,000 year-on-year, reflecting the recovery of business activities[6]. - The company incurred employee costs of HKD 111,454,000, which is a significant component of operational expenses[109]. - The company’s total direct operating expenses related to investment properties were HKD 43,077,000 for the period[109]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 5,444,133,000, an increase from HKD 5,290,467,000 at the end of 2020[31]. - The group recorded a net cash inflow from operating activities of HKD 172,226,000 during the period[24]. - As of June 30, 2021, the group's cash and bank balances, including restricted cash, amounted to approximately HKD 1,349,982,000, an increase of HKD 112,165,000 from the end of last year[24]. - The group has no bank loans or overdrafts, resulting in a debt-to-equity ratio of zero as of June 30, 2021[24]. - The total amount of properties held for sale as of June 30, 2021, was HKD 514,843,000, an increase from HKD 424,548,000 as of December 31, 2020, representing a growth of about 21.3%[89]. - The group's business receivables as of June 30, 2021, amounted to HKD 42,201,000, down from HKD 99,257,000 as of December 31, 2020, indicating a decrease of approximately 57.5%[92]. - The total amount of prepayments, deposits, and other receivables as of June 30, 2021, was HKD 125,139,000, slightly up from HKD 121,930,000 as of December 31, 2020, reflecting an increase of about 2.7%[93]. Property and Investment - The value of the group's investment properties at the end of the period was approximately HKD 2,957,584,000, an increase from HKD 2,950,107,000 at the end of last year, primarily due to a 9% rise in the RMB exchange rate[18]. - Rental and property management fee income for the period was HKD 72,155,000 and HKD 19,722,000 respectively, representing an overall increase of approximately 7% compared to the same period last year[18]. - The overall occupancy rate for the group's properties was approximately 79%, down from 83% in the same period last year[18]. - The construction expenditure for the "Jinli Lai Garden" project in Meixian reached HKD 514,843,000, an increase of HKD 90,295,000 compared to the end of last year[21]. - The average rental and property management fee income for the "Jinli Lai Group Center" in Shatin decreased by approximately 11% due to the pandemic[21]. Shareholder Information - As of June 30, 2021, the company had a total of 614,438,750 shares outstanding, with major shareholders holding 62.42% of the shares[142]. - The company reported that the top shareholder, Top Grade Holdings Limited, holds 613,034,750 shares, representing 62.42% of the issued share capital[142]. - The second-largest shareholder, Silver Disc Limited, holds 160,616,000 shares, accounting for 16.35% of the issued share capital[142]. - The major shareholders include FMR LLC, which holds 63,108,250 shares, representing 6.43% of the issued share capital[142]. - The company has a total of 53,880,750 shares held by the Zeng Hsien-Tzu Charity (Management) Limited, accounting for 5.49% of the issued share capital[143]. Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules during the six months ending June 30, 2021[145]. - The audit committee has reviewed the unaudited interim financial information for the six months ending June 30, 2021[147]. - The company has established an audit committee to oversee financial reporting, risk management, and internal control systems[146]. - The company’s governance structure is deemed effective for monitoring management, with the chairman and CEO being the same individual to enhance decision-making efficiency[145]. Future Plans - The group plans to continue construction and pre-sale activities for the "Jinli Lai Garden" project, with the first phase expected to be completed around mid-next year[22]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[36]. - The company has established a mask factory in Meizhou with an investment of RMB 9,170,000, and will commence production and sales based on actual conditions[22].
金利来集团(00533) - 2021 - 中期财报