Financial Performance - For the six months ended June 30, 2021, the revenue was HKD 13,919,956 thousand, a significant increase from HKD 6,807,615 thousand in the same period of 2020, representing a growth of approximately 104.1%[4] - Gross profit for the same period was HKD 4,723,013 thousand, compared to HKD 1,631,106 thousand in 2020, indicating a gross margin improvement[4] - The profit for the period attributable to the owners of the company was HKD 3,356,539 thousand, up from HKD 732,814 thousand in 2020, reflecting a year-on-year increase of approximately 358.5%[4] - Basic and diluted earnings per share increased to HKD 1.076 from HKD 0.238, marking a substantial rise of 351.7%[4] - Total comprehensive income for the period was HKD 3,588,939 thousand, compared to HKD 511,055 thousand in the previous year, showing a significant increase[6] - The company reported a net cash inflow from operating activities of HKD 2,271,026,000 for the six months ended June 30, 2021, compared to HKD 1,166,772,000 for the same period in 2020, representing an increase of approximately 94.8%[13] - The company reported a net cash outflow from financing activities of HKD (4,309,286,000) for the first half of 2021, compared to HKD (3,375,513,000) in the same period of 2020[13] - The company’s cash and cash equivalents decreased by HKD 1,877,285,000 during the period, compared to an increase of HKD 399,821,000 in the previous year[13] Asset and Liability Management - Non-current assets as of June 30, 2021, totaled HKD 8,861,790 thousand, up from HKD 8,420,170 thousand at the end of 2020, indicating growth in asset base[7] - Current assets increased to HKD 18,467,132 thousand from HKD 17,955,745 thousand, reflecting a healthy liquidity position[7] - The company reported a net current asset value of HKD 8,273,935 thousand, compared to HKD 6,278,476 thousand in the previous year, showing improved financial stability[8] - The total liabilities decreased to HKD 10,193,197 thousand from HKD 11,677,269 thousand, indicating a reduction in financial obligations[8] - As of June 30, 2021, the group's total liabilities were HKD 2,995,528, a slight decrease from HKD 3,125,327 at the end of the previous year[37] - The group’s total trade and other payables amounted to HKD 2,831,457, a marginal increase from HKD 2,777,696 as of December 31, 2020[37] Revenue Breakdown - Revenue from the sale of epoxy glass fiber copper-clad laminates reached HKD 10,045,360,000, a significant increase from HKD 4,312,253,000 in the previous year, marking an increase of approximately 132.5%[21] - For the six months ended June 30, 2021, the revenue from the copper-clad laminate segment was HKD 13,820,159,000, representing a significant increase from HKD 6,602,298,000 for the same period in 2020[24] - The copper-clad laminate segment's revenue rose by 109% to HKD 13,820.2 million, with EBITDA increasing by 223% to HKD 4,360.3 million[46] - The real estate segment's revenue decreased by 51% to HKD 65 million, with EBITDA declining by 49% to HKD 32.3 million due to fewer units delivered[46] Profitability and Earnings - The group reported a pre-tax profit of HKD 4,111,352,000 for the six months ended June 30, 2021, compared to HKD 1,041,749,000 in the previous year, reflecting a strong performance[24][25] - The income tax expense for the six months ended June 30, 2021, was HKD 753,961,000, significantly higher than HKD 307,649,000 in 2020, primarily due to increased profitability[29] - The company declared an interim dividend of HKD 0.30 per share for the six months ended June 30, 2021, compared to HKD 0.10 per share in 2020[31] - Basic earnings per share attributable to the company's shareholders for the period was HKD 3,356,539,000, a substantial increase from HKD 732,814,000 in the previous year[32] Operational Efficiency - The turnover period for inventory decreased to 41 days from 50 days as of December 31, 2020[51] - The turnover period for trade receivables was 84 days, down from 97 days as of December 31, 2020[51] - The turnover period for trade payables was 24 days, reduced from 40 days as of December 31, 2020[51] Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[10] - The electronic industry remains highly prosperous, with stable demand for copper-clad laminates driven by strong sales of electronic consumer goods and emerging sectors like new energy vehicles and mini LED[57] - The company aims to enhance its vertical integration model and expand its external customer market by optimizing its product mix in response to market demand[57] - The overall market outlook is positive, with multiple factors expected to drive continued price increases for copper-clad laminate products[57] Governance and Compliance - The audit committee reviewed the accounting policies and practices adopted by the group for the six months ending June 30, 2021[68] - The company has complied with the Corporate Governance Code during the six-month period ending June 30, 2021, with certain deviations noted[68] - All directors confirmed compliance with the Standard Code of Conduct for securities trading during the six-month period ending June 30, 2021[68] - The board of directors includes both executive and independent non-executive members, ensuring diverse governance[70]
建滔积层板(01888) - 2021 - 中期财报