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陈唱国际(00693) - 2021 - 中期财报

Financial Performance - The group's revenue for the first half of 2021 was HKD 6.156 billion, a 6% increase compared to HKD 5.784 billion in the same period of 2020[5]. - EBITDA increased by 55% to HKD 489 million from HKD 315 million in the previous year[5]. - The operating profit was HKD 179.8 million with an operating profit margin of 2.9%, compared to 0.5% in the same period of 2020[5]. - Net profit after tax was HKD 78.6 million, a significant recovery from a loss of HKD 46.1 million in 2020[5]. - The net cash generated from operating activities for the six months ended June 30, 2021, was HKD 263,602, compared to HKD 39,630 for the same period in 2020[26]. - The total comprehensive income for the six months ended June 30, 2021, was a loss of HKD 132,392, compared to a loss of HKD 224,073 for the same period in 2020[25]. - The company reported a profit before tax of HKD 370,830 thousand for the six months ended June 30, 2021, compared to HKD 259,735 thousand in 2020, which is an increase of approximately 42.8%[36]. - The total profit before tax for the six months ended June 30, 2021, was HKD 184,075,000, compared to HKD 18,965,000 for the same period in 2020, representing an increase of approximately 868%[42]. Revenue Breakdown - Revenue from goods sold was HKD 2,394,349 thousand for the six months ended June 30, 2021, compared to HKD 2,394,880 thousand in 2020, showing a slight decrease of 0.02%[32]. - Revenue from services provided increased to HKD 3,669,850 thousand in 2021 from HKD 3,282,713 thousand in 2020, marking a growth of approximately 11.8%[32]. - Revenue from investment property rental was HKD 49,906 thousand in 2021, up from HKD 40,201 thousand in 2020, reflecting an increase of about 24.5%[32]. - Revenue from Singapore increased to HKD 845,753 thousand in 2021 from HKD 650,354 thousand in 2020, representing a growth of approximately 30%[33]. Shareholder Information - The board declared an interim dividend of HKD 0.015 per share for the first half of 2021[5]. - The company declared an interim dividend of HKD 0.015 per share, totaling HKD 30,200,000, an increase from HKD 20,133,000 in 2020[66]. - The interim dividend will be paid to shareholders listed on the register as of September 10, 2021[66]. - As of June 30, 2021, the total equity held by executive director Mr. Chen Yongshun is 586,937,672 shares, representing 29.15% of the total issued shares[69]. - Major shareholder Chen Chong United Limited holds 705,819,720 shares, accounting for 35.05% of the total issued shares[71]. Debt and Equity - The net debt to total equity ratio improved to 1.1% from 1.7% in the previous year[5]. - The return on capital employed (ROCE) increased to 1.5% from 0.4% in the first half of 2020[5]. - The total equity attributable to shareholders was HKD 10,682,929, down from HKD 10,855,525 at the end of 2020, reflecting a decline in shareholder value[21]. - As of June 30, 2021, the total equity attributable to shareholders was HKD 11,972,895, a decrease from HKD 12,181,125 as of December 31, 2020[25]. Operational Challenges - In Singapore, the Subaru business faced a double-digit sales decline due to strict vehicle emission surcharges[7]. - The group anticipates ongoing challenges in the automotive sector due to geopolitical risks and changing consumer preferences towards ride-hailing services instead of vehicle ownership[11]. - The impact of the prolonged COVID-19 crisis is expected to have a significant effect on the group's year-end performance, making future forecasts challenging[11]. Asset Management - Non-current assets as of June 30, 2021, totaled HKD 10,107,789, slightly down from HKD 10,159,737 at the end of 2020[17]. - Current assets amounted to HKD 7,725,587, a decrease from HKD 7,779,617 at the end of 2020, indicating a tightening liquidity position[18]. - The total assets as of June 30, 2021, were HKD 12,550,877, reflecting a decrease from previous periods[25]. - Cash and bank balances as of June 30, 2021, were HKD 2,433,795,000, slightly down from HKD 2,539,772,000 as of December 31, 2020[49]. Compliance and Governance - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[73]. - All directors confirmed compliance with the securities trading requirements during the first half of the year[74]. - The board of directors has not been informed of any violations of the Corporate Governance Code during the reporting period[75]. - The board believes that the current structure enhances leadership continuity and allows for effective decision-making[75].