Revenue and Profitability - Revenue increased by approximately 23.2% to approximately HK$36.2 million for the six months ended 30 June 2021 compared to the corresponding period in 2020[9]. - Profit attributable to equity shareholders increased by approximately 37.8% to approximately HK$4.2 million for the six months ended 30 June 2021 compared to the corresponding period in 2020[10]. - Earnings per share increased by approximately 38.1% to approximately HK cents 0.174 for the six months ended 30 June 2021 compared to the corresponding period in 2020[10]. - Profit from operations increased significantly to HK$5,812,000 compared to HK$1,355,000 in the previous year, reflecting a substantial operational improvement[115]. - Profit before tax rose to HK$5,319,000, compared to HK$761,000 in the prior year, marking a significant increase[115]. - The profit for the period from continuing operations was HK$4,176,000, a turnaround from a loss of HK$23 in the same period last year[115]. - The total comprehensive income for the period was HK$10,651,000, compared to a loss of HK$12,256,000 in the same period of 2020, indicating a strong recovery[120]. Segment Performance - Revenue from the sub-processing films segment rose from approximately HK$0.7 million for the six months ended 30 June 2020 to approximately HK$5.7 million for the Period[30]. - Revenue from photovoltaic power generation increased to approximately HK$30.2 million during the Period, up from approximately HK$27.0 million for the six months ended 30 June 2020[37]. - The generation of photovoltaic power segment reported a profit before tax of HK$16,257,000 in 2021, up from HK$8,112,000 in 2020, showing a strong performance[176]. - The properties development and related services segment generated revenue of HK$1,721,000 in 2021, compared to HK$30,186,000 in 2020, indicating a decline[176]. Financial Position - As of 30 June 2021, the Group had cash and cash equivalents totaling approximately HK$310.7 million[51]. - Total equity increased to HK$827,866,000 as of June 30, 2021, compared to HK$812,842,000 at the end of 2020, showing growth in shareholder value[126]. - Current assets increased to HK$539,483,000 from HK$529,326,000, driven by a significant rise in inventories from HK$7,692,000 to HK$24,727,000[123]. - Total current liabilities decreased to HK$26,989,000 from HK$32,721,000, reflecting improved management of trade payables[126]. - The company maintained a strong cash position with bank and cash balances of HK$310,698,000, slightly down from HK$326,060,000[123]. Expenses and Costs - Administrative expenses decreased by approximately HK$5.2 million from approximately HK$18.0 million for the six months ended 30 June 2020 to approximately HK$12.8 million for the Period[39]. - Finance costs incurred during the Period were approximately HK$0.5 million, a decrease from approximately HK$0.6 million for the six months ended 30 June 2020[40]. - Total borrowing costs decreased to HK$493,000 from HK$594,000, a reduction of 17%[184]. Corporate Governance - The Directors recognized the importance of good corporate governance and adhered to the principles to uphold shareholders' interests[98]. - The Company complied with the Corporate Governance Code provisions, except for the separation of roles between chairman and chief executive[101]. - The Group's corporate governance practices are based on the principles set out in the Corporate Governance Code[99]. Investment and Future Plans - The company plans to focus on investment opportunities in the photovoltaic industry, anticipating long-term profitability as China aims for carbon neutrality over the next four decades[71]. - The company is committed to evaluating investment opportunities in clean energy as part of its strategy for sustainable development[71]. - The company will focus on prudent evaluations before pursuing investments in the photovoltaic sector[71]. Employment and Workforce - The Group's workforce decreased to 62 employees as of 30 June 2021, down from 242 employees a year earlier[65]. - As of June 30, 2021, the company employed 62 employees, a significant decrease from 242 employees as of June 30, 2020[69]. Dividends - The Board does not recommend payment of any interim dividend for the six months ended 30 June 2021[11]. - The board does not recommend any interim dividend for the period, compared to HK$0.01 per share for the six months ended 30 June 2020[66]. Cash Flow - For the six months ended June 30, 2021, net cash used in operating activities was HK$ (23,196,000), a decrease from HK$ 76,218,000 in the same period of 2020[134]. - Cash and cash equivalents at June 30, 2021, amounted to HK$ 310,698,000, compared to HK$ 243,327,000 at the end of June 2020, reflecting an increase of 27.7%[134]. - Interest received increased to HK$ 838,000 in 2021 from HK$ 219,000 in 2020, representing a growth of 282.2%[134]. Taxation - Current tax provision for the period was HK$1,481,000, compared to HK$1,388,000 in the same period of 2020, reflecting a slight increase[186]. - The Group's effective tax rate for Jiangsu Sheen Colour Science Technology Co., Ltd. remained at a preferential rate of 15% for the period ended 30 June 2021[191].
顺泰控股(01335) - 2021 - 中期财报