Financial Performance - Revenue for the six months ended 30 September 2021 was HK$1,364,779,000, an increase of 1.8% compared to HK$1,340,004,000 in the same period last year[13]. - Gross profit for the period was HK$168,658,000, down 9.4% from HK$186,066,000 in the previous year[13]. - Profit before income tax decreased to HK$87,553,000, a decline of 13.9% from HK$101,708,000 in the prior year[13]. - Profit for the period from continuing operations was HK$76,274,000, compared to HK$90,860,000 in the same period last year, representing a decrease of 16.0%[13]. - Total comprehensive income for the period was HK$82,682,000, down 28.4% from HK$115,362,000 in the previous year[15]. - Basic earnings per share from continuing operations was HK17.38 cents, a decrease from HK20.75 cents in the prior year[32]. - Other income and gains for the period amounted to HK$43,230,000, compared to HK$49,484,000 in the previous year[13]. - Selling and distribution expenses increased to HK$37,797,000 from HK$27,177,000, reflecting a rise of 39.0%[13]. - Administrative expenses were HK$79,768,000, down from HK$96,679,000, indicating a decrease of 17.5%[13]. - The company reported an income tax expense of HK$11,279,000, compared to HK$10,848,000 in the previous year[13]. Assets and Liabilities - Total assets increased to HK$3,257,950,000 as of September 30, 2021, compared to HK$3,210,833,000 as of March 31, 2021, reflecting a growth of approximately 1.5%[41]. - Current assets rose to HK$1,965,112,000, up from HK$1,874,202,000, indicating an increase of about 4.9%[41]. - Total equity attributable to equity holders increased to HK$1,582,179,000 from HK$1,499,496,000, representing a growth of approximately 5.5%[41]. - Non-current liabilities decreased to HK$185,297,000 from HK$255,021,000, showing a reduction of about 27.3%[41]. - Bank borrowings reduced significantly from HK$191,874,000 to HK$124,932,000, a decrease of approximately 34.9%[41]. - Total liabilities decreased to HK$1,675,771,000 from HK$1,711,337,000, indicating a reduction of approximately 2.1%[41]. - Deferred tax liabilities increased to HK$40,032,000 from HK$37,097,000, reflecting an increase of about 7.9%[41]. Cash Flow - Cash flows from operating activities were HK$69,498,000, a decrease from HK$87,636,000 in the prior year, reflecting a decline of approximately 20.7%[47]. - Net cash outflow from investing activities was HK$34,943,000, compared to a net cash outflow of HK$11,945,000 in the previous year, showing a significant increase in cash outflow[47]. - The company reported a net cash outflow from financing activities of HK$101,931,000, compared to a net cash outflow of HK$22,690,000 in the previous year, indicating increased financing costs[47]. - The Group's cash and bank balances as of September 30, 2021, were HK$323,586,000, down from HK$390,556,000 as of March 31, 2021[199]. Segment Performance - The Group is organized into four reportable operating segments: electrical and electronic products, motors, real estate development, and glass technology and application[64]. - Revenue from external customers for electrical and electronic products was HK$801,883,000, an increase from HK$562,896,000 in the previous period, representing a growth of 42.5%[78]. - The Electrical and Electronic Products Business Segment generated revenue of HK$801,883,000, accounting for 58.8% of the Group's total turnover, down from 62.3% in the previous year[148]. - The Motors Business Segment contributed HK$562,896,000, representing 41.2% of the Group's consolidated turnover, an increase from 37.7% in the prior year[148]. - Operating profit for the segment decreased by 40.7% year-on-year to HK$53,341,000, down from HK$89,979,000 in the first half of FY2021, due to raw material shortages and logistics disruptions[157]. Government Subsidies and Other Income - The company recognized government subsidy income of HK$23,768,000 during the period, compared to HK$31,225,000 in the first half of FY2021[83]. - The Group recognized subsidies of HK$15,727,000 during the period, which were included in other income and gains[135]. Future Outlook and Strategies - The Group is actively developing OEM+ business opportunities and has established a house brand healthcare product line, "Kin Yat Health," to diversify its product portfolio[143]. - The company plans to implement a "China Plus One" strategy by establishing a production facility in Malaysia to enhance production efficiency and flexibility[170]. - The Group aims to expand its customer base by exploring new applications for its products and targeting potential customers in the ASEAN region, such as Thailand and Vietnam[183]. - The Group plans to continue R&D efforts to develop more powerful, quieter, lighter, and energy-saving motors to enhance its product portfolio[185]. - The healthcare products sector is expected to enhance overall profitability due to its higher entry barriers and stability post-COVID-19[169].
广和通(00638) - 2022 - 中期财报