Financial Performance - Total revenue increased by 20.2% to HKD 1,959,500,000 for the six months ended June 30, 2021, compared to HKD 1,629,600,000 for the same period in 2020[4] - Profit for the period decreased to HKD 45,400,000, compared to HKD 87,400,000 for the same period in 2020[4] - Gross profit maintained at HKD 250,600,000 with a gross margin of 12.8%, down from 15.9% in the previous year[4] - Operating profit decreased to HKD 76,950,000 from HKD 118,568,000 year-on-year, reflecting a decline of approximately 35.2%[43] - Profit before tax was HKD 73,641,000, down from HKD 113,551,000 in the previous year, marking a decrease of around 35.1%[43] - The net profit for the period was HKD 45,392,000, compared to HKD 87,448,000 in 2020, which is a decline of approximately 48.1%[43] - Basic and diluted earnings per share were HKD 0.067, down from HKD 0.129 in the same period last year, representing a decrease of about 48.8%[43] - Total comprehensive income for the period was HKD 49,471,000, down from HKD 73,401,000 in 2020, indicating a decrease of about 32.6%[45] Revenue Breakdown - Revenue from the plastic model division increased by 28.9% to HKD 1,031,400,000, accounting for 52.7% of total revenue[5] - Revenue from the plush toy division decreased to HKD 556,800,000, representing 28.4% of total revenue[6] - Revenue from the waterproof cover division reached HKD 276,500,000, a growth of 175.4% since its acquisition[8] - Injection molding division revenue grew by 25.5% to HKD 94,800,000, accounting for 4.8% of total revenue[9] - Revenue from major product lines included HKD 1,031,407,000 from plastic models, HKD 556,839,000 from plush toys, HKD 276,454,000 from waterproof covers, and HKD 94,771,000 from injection molded products[59] - Revenue by geographical location showed HKD 1,464,417,000 from North America, HKD 197,947,000 from Japan, HKD 116,721,000 from China, and HKD 89,352,000 from Europe[60] Market and Employment - North America remains the largest market, contributing 74.7% of total revenue, followed by Japan at 10.1% and China at 6.0%[10] - As of June 30, 2021, the company employed 24,554 staff, an increase from 23,928 at the end of 2020[14] Capital Structure and Debt - The company maintains a capital debt ratio of 13.2% as of June 30, 2021, up from 9.9% at the end of 2020[16] - Total liabilities increased to HKD 1,257,751 thousand from HKD 946,353 thousand, indicating a rise of 32.8%[47] - Bank loans amounted to HKD 101,934,000 as of June 30, 2021, an increase from HKD 77,019,000 as of December 31, 2020, indicating a rise of 32.2%[89] - The company’s total liabilities for the reporting segments were HKD 1,311,246,000, compared to HKD 985,104,000 in the previous period[62] Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD 54,130 thousand for the six months ended June 30, 2021, compared to a net inflow of HKD 74,194 thousand in the same period of 2020[52] - Cash and cash equivalents decreased to HKD 383,652 thousand from HKD 489,071 thousand, a decline of 21.6%[53] - Current assets increased to HKD 2,394,609 thousand from HKD 2,114,022 thousand, marking a significant rise of 13.2%[47] - The net asset value as of June 30, 2021, was HKD 2,542,128 thousand, a decrease from HKD 2,560,344 thousand as of December 31, 2020, reflecting a decline of 0.7%[49] Dividends and Shareholder Information - The board declared an interim dividend of HKD 0.02 per share, totaling HKD 13,537,000, consistent with the previous year[21] - Major shareholders include Choi Kwai Yan with a beneficial interest of 386,525,000 shares, representing 57.10% of the issued shares[30] - Uni-Link Technology Limited, wholly owned by Choi Kwai Yan, holds 72,150,000 shares, accounting for 10.66% of the issued shares[30] - FIL Limited and its controlled entities collectively hold 60,902,000 shares, representing 8.99% of the issued shares[30] Acquisitions and Investments - The acquisition of C & H Vina and C & H Tarps was completed for a total consideration of USD 16,000,000 (approximately HKD 124,791,000)[107] - The fair value of identifiable assets and liabilities acquired from C & H Vina and C & H Tarps was HKD 141,197,000, resulting in a bargain purchase gain of HKD 16,406,000 recognized in the income statement[109] - The group reported a net cash outflow of HKD 104,692,000 related to the acquisition after accounting for cash and cash equivalents acquired[110] - The acquisition is expected to achieve synergies and reduce manufacturing costs for waterproof covers[115] Compliance and Governance - The company maintained compliance with the corporate governance code, although the roles of Chairman and CEO are held by the same individual, which is noted as a deviation from the code[36] - The audit committee reviewed the interim financial results and confirmed compliance with relevant accounting standards and regulations[36]
德林国际(01126) - 2021 - 中期财报