Revenue and Profitability - The revenue from the procurement and sales of cassava chips for the period was approximately HKD 1,525,000,000, an increase of about 47.8% compared to HKD 1,032,100,000 in the same period last year[6]. - Revenue for the six months ended September 30, 2021, was HKD 1,538,857,000, an increase of 47.1% compared to HKD 1,045,990,000 for the same period in 2020[45]. - Gross profit for the same period was HKD 183,782,000, up 46.6% from HKD 125,293,000 in 2020[45]. - The gross profit for the cassava chips segment increased to approximately HKD 173,000,000, up from HKD 114,800,000, reflecting a rise in sales and average gross margin[8]. - The net profit for the period was HKD 22,538,000, representing a 17.4% increase from HKD 19,154,000 in the previous year[45]. - Adjusted profit before tax for the six months was HKD 25,611, compared to HKD 21,353 in the previous year, marking an increase of 19.5%[74][85]. Expenses and Costs - The total administrative expenses for the period were approximately HKD 25,700,000, compared to HKD 24,800,000 in the previous year[16]. - The sales and distribution costs were approximately HKD 127,400,000, representing about 8.2% of total sales revenue, up from 7.1% in the previous year[15]. - The financing costs decreased from approximately HKD 6,200,000 to HKD 5,400,000 due to a reduction in trade finance loans[17]. - Rental expenses paid to related companies amounted to HKD 740,000 for the six months ended September 30, 2021, compared to HKD 642,000 in the same period of 2020, reflecting a 15.3% increase[102]. Assets and Liabilities - As of September 30, 2021, the group's current assets were approximately HKD 651.1 million, a decrease from HKD 1,312 million as of March 31, 2021[20]. - The group's current liabilities amounted to approximately HKD 890.2 million, down from HKD 1,578.8 million as of March 31, 2021[22]. - The company's total assets as of September 30, 2021, were HKD 854,116,000, compared to HKD 865,217,000 at the end of the previous period[56]. - The company's total liabilities decreased significantly to HKD 34,565,000 from HKD 300,305,000 as of March 31, 2021, indicating a substantial reduction in financial obligations[98]. Shareholder Information - As of September 30, 2021, the company’s major shareholder, Fu Yi Management, holds 225,000,000 shares, representing 38.48% of the issued share capital[33]. - The company has confirmed that at least 25% of its issued share capital is held by the public as of the report date[34]. - The company has not declared an interim dividend for the six months ending September 30, 2021, and thus no suspension of share transfer is required[29]. Operational Focus and Strategy - The company remains committed to promoting birthday parties and wedding banquet services to enhance profitability despite challenges in the hotel business[6]. - The company is considering managing small to medium-sized hotels in the vicinity to explore new revenue streams in hotel management[27]. - The hotel business will focus on promoting wedding services and adding restaurant facilities to attract local residents, thereby increasing revenue and improving profitability[27]. - The company aims to reduce unit costs and increase gross margins through the expansion of its procurement network in Southeast Asia[27]. - The company is focused on expanding its cassava chip procurement and sales division while maintaining its property investment and hotel operations[69]. Cash Flow and Financial Health - The net cash inflow from operating activities for the six months ended September 30, 2021, was HKD 451,568,000, compared to HKD 462,811,000 for the same period in 2020, reflecting a decrease of approximately 0.5%[56]. - The net cash outflow from investing activities was HKD 774,000, significantly improved from HKD 4,863,000 in the previous year[56]. - The net cash outflow from financing activities decreased to HKD 426,020,000 from HKD 465,152,000 year-on-year, indicating a reduction of about 8.4%[56]. - The total cash and cash equivalents at the end of the period increased to HKD 91,213,000 from HKD 189,731,000, showing a net increase of HKD 24,774,000[56]. Market Position and Future Outlook - The company is the largest procurer and exporter of cassava chips in Thailand and the largest importer of cassava chips in China, providing a comprehensive business model[5]. - The company anticipates increasing demand for dried cassava chips in mainland China, benefiting long-term business growth[27]. - The procurement network for dried cassava chips spans across Thailand, Cambodia, Laos, and Vietnam, with a total storage capacity of approximately 600,000 tons[27]. - The company will cautiously explore the feasibility of trading other bulk commodities and potential investment projects beyond the hotel and real estate sectors[27].
木薯资源(00841) - 2022 - 中期财报