Financial Performance - The Group's revenue increased by approximately 16.7% to approximately HK$178.2 million for the six months ended December 31, 2019, compared to the same period last year[7]. - Gross profit increased by approximately 20.8% from approximately HK$54.9 million for the six months ended December 31, 2018, to approximately HK$66.3 million for the same period in 2019[7]. - Profit for the period increased by approximately HK$9.0 million from approximately HK$19.0 million to approximately HK$28.0 million[7]. - Basic earnings per share rose to HK5.84 cents, compared to HK3.97 cents for the corresponding period in 2018[8]. - Profit before tax increased to HK$33.68 million, up 45.7% from HK$23.11 million in the prior year[76]. - The profit for the period was HK$28.02 million, compared to HK$19.04 million in the previous year, marking a growth of 47.2%[79]. - Total comprehensive income for the period attributable to owners of the Company was HK$20.46 million, compared to HK$14.51 million in the previous year, reflecting a growth of 41.0%[79]. Revenue Breakdown - Revenue contribution from packaging printing decreased by approximately 2.6% to approximately HK$110.7 million for the six months ended December 31, 2019[15]. - Revenue from card printing services increased by approximately 124.2% to approximately HK$24.2 million compared to the same period in 2018[19]. - Revenue from smart package printing services surged by approximately 323.1% to approximately HK$13.2 million compared to the same period in 2018[20]. - Revenue from paper gift set printing increased by approximately 43.9% to approximately HK$26.4 million compared to the same period in 2018[18]. - Revenue from other printing services decreased by approximately 45.6% to approximately HK$3.7 million compared to the same period in 2018[25]. Cost and Expenses - The Group's net profit margin increased from approximately 12.5% to approximately 15.7% for the same periods[7]. - Income tax expenses increased by approximately HK$1.6 million from approximately HK$4.1 million to approximately HK$5.7 million for the same periods[46]. - The Group's administrative expenses were HK$30.81 million, slightly increasing from HK$30.48 million in the previous year[76]. - Total tax charge for the period was HK$5,664,000, representing a 39.2% increase from HK$4,068,000 in the previous year[147]. Assets and Liabilities - The Group's net assets amounted to approximately HK$307.7 million as at 31 December 2019[47]. - Total non-current assets increased to HK$98,629,000 as of December 31, 2019, compared to HK$63,810,000 as of June 30, 2019, representing a significant growth[82]. - Current assets totaled HK$291,230,000 as of December 31, 2019, up from HK$278,114,000 as of June 30, 2019, indicating a growth of approximately 4.0%[82]. - Total equity increased to HK$307,670,000 as of December 31, 2019, compared to HK$299,214,000 as of June 30, 2019, marking an increase of approximately 2.5%[82]. - Total non-current liabilities remained low at HK$14,763,000 as of December 31, 2019, compared to HK$130,000 as of June 30, 2019, indicating effective management of long-term obligations[82]. Cash Flow - Cash generated from operations reached HK$54,583,000, significantly higher than HK$24,810,000 in the previous year, reflecting a growth of approximately 119%[88]. - Net cash flows from operating activities amounted to HK$52,722,000, compared to HK$14,346,000 in the prior year, indicating a substantial increase[88]. - The company reported a net increase in cash and cash equivalents of HK$35,572,000 for the period, up from HK$219,000 in the previous year[91]. - Cash and cash equivalents at the end of the period were HK$209,929,000, compared to HK$187,931,000 at the end of the previous period, showing an increase of approximately 11.1%[91]. Shareholder Information - As of December 31, 2019, Peter Chan holds a long position of 360,000,000 shares in the Company, representing approximately 75% of the total issued share capital[190]. - Kenneth Chan also holds a long position of 360,000,000 shares in the Company, equivalent to about 75% of the total issued share capital[193]. - The Company has multiple directors with significant interests in controlled corporations, all holding 360,000,000 shares, which is 75% of the total issued share capital[192]. - The total number of shares held by directors indicates a strong control over the Company's equity structure[190]. - The Company will be owned as to 54.8% by Goody Luck and 20.2% by Goody Capital after the completion of the capitalization issue and share offer[1]. Accounting Standards - The Group adopted HKFRS 16 using the modified retrospective method with the date of initial application of July 1, 2019[104]. - Under HKFRS 16, all leases are accounted for under a single on-balance sheet model, requiring recognition of right-of-use assets and lease liabilities[104]. - The Group recognized an increase in right-of-use assets amounting to HK$31,003,000 as of July 1, 2019[110]. - Total assets increased by HK$31,003,000 due to the adoption of HKFRS 16[110]. - Lease liabilities also increased by HK$31,003,000 as a result of the new accounting standard[110].
新兴印刷(01975) - 2020 - 中期财报