Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 1,243,843,000, an increase of 43.9% compared to HKD 864,043,000 in the same period of 2020[4] - Gross profit for the same period was HKD 64,401,000, representing a 34% increase from HKD 48,063,000 in 2020[4] - Operating profit increased to HKD 12,945,000, up 62.8% from HKD 7,979,000 in the previous year[4] - Net profit for the period was HKD 7,967,000, a 47.1% increase compared to HKD 5,419,000 in 2020[4] - Basic and diluted earnings per share were HKD 0.97, compared to HKD 0.65 in the same period last year[4] - The group recorded a pre-tax profit of HKD 12,150,000 for the six months ended September 30, 2021, compared to HKD 7,684,000 in the same period of 2020, marking a significant increase[38] - The profit attributable to equity shareholders was approximately HKD 8,000,000, an increase from HKD 5,400,000 in the comparative period, marking a recovery in profit for two consecutive financial periods since the pandemic[79] Comprehensive Income - Total comprehensive income for the period was HKD 13,903,000, down from HKD 15,221,000 in 2020[8] - The company reported other comprehensive income of HKD 5,936,000 for the period, compared to HKD 5,936,000 in the previous year[21] Assets and Liabilities - Non-current assets increased to HKD 160,721,000 from HKD 119,418,000 as of March 31, 2021[11] - Inventory as of September 30, 2021, was HKD 452,820,000, up from HKD 386,698,000 at the end of March 2021[11] - Current liabilities increased to HKD 160,728,000 from HKD 128,766,000 as of March 31, 2021[11] - Total equity attributable to equity shareholders of the company was HKD 907,543,000, compared to HKD 901,854,000 as of March 31, 2021[14] - The total assets for the Hong Kong segment as of September 30, 2021, were HKD 672,144,000, and for the China segment, HKD 402,120,000, totaling HKD 1,074,264,000[37] - The group’s total liabilities as of September 30, 2021, were HKD 166,711,000, with HKD 102,861,000 from Hong Kong and HKD 63,850,000 from China[37] Cash Flow and Financing - The company incurred a cash outflow of HKD 43,338,000 from investing activities, compared to a cash outflow of HKD 313,000 in the prior year[25] - The company raised HKD 503,672,000 from new bank borrowings during the period, significantly higher than HKD 126,761,000 in the previous year[25] - The cash and cash equivalents decreased by HKD 114,462,000, compared to an increase of HKD 82,762,000 in the same period last year[25] - The group’s financing costs for the interim period were HKD 1,200,000, compared to HKD 800,000 in the comparative period[81] Inventory and Sales - Sales volume increased by approximately 6% to about 50,200 tons, up from 47,100 tons in the comparative period[79] - Inventory cost recognized as an expense for the six months ended September 30, 2021, was HKD 1,181,579,000, an increase of 37.5% from HKD 859,239,000 for the same period in 2020[51] - The group reported a significant increase in sales of zinc and related products, contributing to the overall revenue growth[33] Challenges and Strategic Initiatives - The company faced significant external challenges, including supply chain disruptions and rising logistics costs, yet maintained stable revenue[79] - The group anticipates ongoing challenges in recovery due to supply chain constraints and global energy challenges, but remains confident in the long-term demand for metals[90] - The group plans to expand its internal smart ordering platform to address logistics challenges and improve inventory planning[90] - The group has implemented digital technology investments to mitigate logistics disruptions and enhance operational efficiency[86] Employee and Management - As of September 30, 2021, the group employed approximately 190 employees, with employee costs for the six months ending September 30, 2021, amounting to HKD 28,900,000, an increase from HKD 26,500,000 for the same period in 2020[98] - The total remuneration for key management personnel increased to HKD 9,770,000 from HKD 6,259,000 in the previous year[70] Corporate Governance - The board confirmed compliance with the corporate governance code as per the listing rules, with no known violations during the interim period[110] - No new share options have been granted under the company's share option plans since their adoption, and all previously granted options have expired[108] - The company did not purchase, sell, or redeem any of its shares during the interim period[109] Sustainability and Development - The group continues to focus on sustainable development, including reducing emissions and responsible sourcing, and has achieved recognition for its sustainable procurement practices[89] - The group is diversifying its product offerings to meet the evolving demands of electric vehicles, smart devices, and other innovative applications[87]
利记(00637) - 2022 - 中期财报