Financial Performance - The company reported a profit attributable to owners of $68,000 for the six months ended June 30, 2021, compared to a loss of $2,551,000 in the same period last year[3]. - Total revenue for the six months was $3,479,000, a significant increase from $1,422,000 in the previous year, representing a growth of approximately 144%[4]. - Gross profit for the period was $1,441,000, compared to $450,000 in the prior year, indicating a substantial improvement in profitability[4]. - The company recorded a total comprehensive income of $2,052,000 for the period, up from $1,387,000 in the previous year, reflecting a year-over-year increase of about 48%[4]. - The company reported a net profit of $68,000 for the six months ended June 30, 2021, compared to a net loss of $2,551,000 for the same period in 2020[29]. - The pre-tax profit for the six months ended June 30, 2021, was $70,000, compared to a pre-tax loss of $2,550,000 for the same period in 2020[48]. Cash Flow and Assets - The net cash generated from operating activities was $826,000, a recovery from a cash outflow of $1,796,000 in the same period last year[10]. - The company's total assets increased to $63,296,000 as of June 30, 2021, compared to $60,986,000 at the end of 2020, showing a growth of approximately 4%[6]. - The company’s cash and cash equivalents at the end of the period were reported at $10,447,000, slightly down from $10,696,000 at the end of the previous period[10]. - Total trade receivables as of June 30, 2021, amounted to $605,000, an increase from $591,000 as of December 31, 2020[35]. - Total trade payables as of June 30, 2021, were $636,000, significantly up from $198,000 as of December 31, 2020[37]. - The company's total net assets as of June 30, 2021, were $54,967,000, with current assets of $14,280,000 and current liabilities of $7,927,000, resulting in a current ratio of approximately 1.80[51]. Revenue Breakdown - Revenue from footwear production and sales was $2,095,000, while rental income from properties was $1,384,000 for the six months ended June 30, 2021[17]. - The operating profit for the footwear segment was $135,000, and for the rental properties segment, it was $1,254,000, leading to a total segment profit of $1,389,000[17]. - Total revenue for the six months ended June 30, 2021, was $3,479,000, an increase from $1,422,000 for the same period in 2020, representing a growth of 144.5%[17]. Earnings Per Share - The company’s basic earnings per share improved to $0.01 compared to a loss per share of $0.35 in the previous year[4]. - Basic earnings per share for the six months ended June 30, 2021, were $0.000093, compared to a loss per share of $0.00349 for the same period in 2020[29]. - Basic earnings per share for the six months ended June 30, 2021, were $0.01, compared to a basic loss per share of $0.35 for the same period in 2020[48]. Costs and Expenses - The cost of inventory recognized as an expense was $1,908,000 for the six months ended June 30, 2021, compared to $942,000 in 2020, indicating a significant increase in costs[21]. - The interest expense on lease liabilities for the six months ended June 30, 2021, was $20,000, slightly down from $21,000 in the same period of 2020[20]. Corporate Governance and Management - The company did not declare any dividends for the interim period ended June 30, 2021[27]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2021[65]. - The company has complied with the corporate governance code as per the listing rules during the reporting period[66]. - The audit committee reviewed the unaudited consolidated financial information for the six months ending June 30, 2021, discussing risk management and internal controls[68]. Future Outlook - The management plans to continue negotiating new leasing contracts to effectively utilize the company's assets and increase returns[49]. - The company is cautious about future market conditions due to the ongoing impact of the COVID-19 pandemic, despite an increase in customer orders in the shoe business[49]. - The company believes it can maintain sufficient working capital for operations and future expansion[51]. Shareholding Structure - As of June 30, 2021, the company had a total of 9,000,000 shares held by directors, representing 1.23% of the issued share capital[53]. - Pegasus Footgear Management Limited holds 468,743,940 shares, accounting for 64% of the company's issued share capital[63]. Revaluation and Investments - The company recognized a revaluation surplus of $4,944,000 during the period, contributing positively to the overall equity[4]. - The fair value of investment properties as of June 30, 2021, was $28,316,000, up from $6,796,000 as of June 30, 2020[32]. - The company did not acquire any property, plant, or equipment during the interim period ended June 30, 2021[34].
创信国际(00676) - 2021 - 中期财报