Financial Performance - The company's total revenue for the first half of 2021 was HKD 1,894,942,000, representing a 67.7% increase from HKD 1,130,089,000 in the same period last year[7]. - Operating profit for the first half of 2021 was HKD 65,940,000, up 66.4% from HKD 39,638,000 year-on-year[7]. - Shareholders' profit attributable to the company was HKD 47,146,000, a slight increase of 1.1% compared to HKD 46,610,000 in the previous year[10]. - The basic earnings per share rose to 5.2 HK cents, up 2.0% from 5.1 HK cents in the same period last year[10]. - Total comprehensive income for the period was HKD 72,342 thousand, significantly higher than HKD 12,366 thousand in the prior year[49]. - The net profit attributable to equity holders of the company was HKD 54,002,000 for the six months ended June 30, 2021, compared to a loss of HKD 33,433,000 in the same period of 2020[59]. - The company reported a consolidated profit before tax of HKD 60,025,000, compared to HKD 55,195,000 in the previous year, indicating a growth of 8.3%[83]. Revenue Breakdown - The fresh food business saw revenue of HKD 522,184,000, a significant increase of 204.5% year-on-year, despite a decrease in profit due to falling live pig prices[12]. - The tinplate business reported revenue of HKD 1,361,997,000, an increase of 43.6%, with a profit increase of 140.3% year-on-year[13]. - Fresh food business revenue accounted for 27.6% of the group's total revenue, with a 204.5% increase to HKD 522,184,000 in the first half of 2021 compared to the same period last year[17]. - Revenue for the six months ended June 30, 2021, was HKD 1,894,942,000, a significant increase of 67.5% compared to HKD 1,130,089,000 for the same period in 2020[78]. - The sales of tinplate products reached HKD 1,361,997,000, up 43.5% from HKD 948,426,000 in the previous year[81]. - The revenue from fresh food increased to HKD 475,610,000, compared to HKD 130,637,000 in the same period last year, marking a growth of 263.5%[78]. Market Position - The overall market share for live pigs supplied to Hong Kong was approximately 47% in the first half of 2021[12]. - The group maintained a market share of approximately 47% in the live pig supply market for Hong Kong, supported by the expansion of domestic frozen meat wholesale and slaughtering businesses[17]. Assets and Liabilities - The group reported total assets of HKD 3,930,851,000 and total liabilities of HKD 1,087,715,000 as of June 30, 2021, reflecting increases of HKD 615,411,000 and HKD 556,683,000 respectively since the end of 2020[25]. - Current assets increased to HKD 2,463,901 thousand from HKD 1,964,206 thousand, indicating a growth of 25.4%[52]. - Total liabilities increased to HKD 1,033,491 thousand from HKD 492,721 thousand, indicating a significant rise in financial obligations[54]. - The group's total liabilities increased to HKD 791,442,000 as of June 30, 2021, compared to HKD 429,885,000 on December 31, 2020, marking a rise of 84.2%[111]. Cash Flow and Capital Expenditure - Cash and cash equivalents amounted to HKD 893,170,000, a slight decrease of 0.2% from the end of 2020, with 79.0% in RMB[26]. - Capital expenditure for the first half of 2021 was HKD 123,459,000, significantly higher than HKD 13,432,000 in the same period last year, with total capital commitments of HKD 557,580,000[27]. - The net cash used in operating activities for the six months ended June 30, 2021, was HKD 53,756,000, a decline from the net cash generated of HKD 14,784,000 in the same period of 2020[64]. - The company incurred a cash outflow of HKD 123,865,000 for the purchase of property, plant, and equipment during the six months ended June 30, 2021, compared to HKD 11,403,000 in the same period of 2020[64]. Dividends - The company declared an interim dividend of 1.0 HK cent per share, unchanged from the previous year[11]. - The group declared an interim dividend of HKD 9,076,000 for the six months ended June 30, 2021, unchanged from the same period in 2020[115]. - The group approved a final dividend of HKD 13,614,000 for the previous fiscal year, down from HKD 27,228,000 in the prior year, reflecting a decrease of 50.0%[116]. Strategic Initiatives - The company aims to strengthen its fresh food business by investing in an integrated supply chain from livestock farming to cold chain logistics, focusing on the Guangdong-Hong Kong-Macao Greater Bay Area[37]. - The company plans to enhance its sales network by introducing e-commerce and new retail models, targeting a multi-level sales network across the "9+2" city cluster in the Greater Bay Area[39]. - The company is committed to improving product quality and technology in its tinplate business, aiming to become a leading service provider in the market[40]. - The company will continue to monitor market conditions and adjust its development strategies to mitigate risks associated with the ongoing COVID-19 pandemic and market fluctuations[40]. Employment and Human Resources - The company employed a total of 1,081 full-time employees as of June 30, 2021, an increase of 10 from 1,071 at the end of 2020[36]. - The group’s short-term employee benefits for key management personnel increased to HKD 1,668,000 in 2021 from HKD 1,184,000 in 2020[144]. Compliance and Governance - The company has maintained compliance with the Corporate Governance Code during the six months ending June 30, 2021[159]. - The company’s external auditor, KPMG, reviewed the unaudited interim financial report for the six months ending June 30, 2021[164].
广南(集团)(01203) - 2021 - 中期财报