Revenue Performance - For the six months ended June 30, 2021, the Group recorded total revenue of HK$361.3 million, an increase of HK$71.6 million or 24.7% from HK$289.7 million for the same period in 2020[30]. - Revenue from the beverage solutions segment increased by HK$70.7 million or 25.1%, from HK$282.2 million to HK$352.9 million, primarily due to increased revenue from Mainland China[30]. - Revenue from the food products segment increased by HK$0.9 million or 12.0%, from HK$7.5 million to HK$8.4 million, attributed to growth in Hong Kong[30]. - The Group's revenue increased by HK$71.6 million, or 24.7%, from HK$289.7 million for the six months ended June 30, 2020, to HK$361.3 million for the six months ended June 30, 2021[45]. - Revenue for the six months ended June 30, 2021, was HK$361,288,000, representing an increase of 24.8% compared to HK$289,678,000 for the same period in 2020[116]. - Revenue from external customers in Hong Kong was HK$222,204,000, up from HK$206,743,000 in 2020, while revenue from Mainland China increased significantly to HK$135,164,000 from HK$78,696,000[185]. - Revenue from the sale of coffee, tea, and related products amounted to HK$272,011,000, while frozen processed food sales generated HK$7,454,000[196]. Profitability - The Group's profit for the period increased by HK$9.5 million, or 33.0%, from HK$28.8 million for the six months ended 30 June 2020 to HK$38.3 million for the six months ended 30 June 2021[66]. - Profit before tax increased to HK$48,473,000, a rise of 40.2% from HK$34,537,000 in the previous year[116]. - The Group's net profit margin increased from 10.0% for the six months ended 30 June 2020 to 10.6% for the six months ended 30 June 2021[66]. - The Group's gross profit increased by HK$27.3 million, or 23.0%, from HK$118.6 million for the six months ended June 30, 2020, to HK$145.9 million for the six months ended June 30, 2021[48]. - Gross profit for the same period was HK$145,879,000, with a gross margin of approximately 40.4%, up from HK$118,551,000 in 2020[116]. - The Group's adjusted profit before tax was HK$48,473,000, after accounting for interest income of HK$843,000 and corporate expenses of HK$7,304,000[172]. Expenses and Costs - The Group's cost of sales increased by HK$44.3 million, or 25.9%, from HK$171.1 million for the six months ended June 30, 2020, to HK$215.4 million for the six months ended June 30, 2021[47]. - Selling and distribution expenses increased by HK$9.0 million, or 18.8%, from HK$47.8 million for the six months ended June 30, 2020, to HK$56.8 million for the six months ended June 30, 2021[53]. - Administrative expenses increased by HK$2.4 million, or 6.5%, from HK$36.9 million for the six months ended June 30, 2020, to HK$39.3 million for the six months ended June 30, 2021[54]. - Other income and gains, net, decreased by HK$2.4 million, or 66.7%, from HK$3.6 million for the six months ended June 30, 2020, to HK$1.2 million for the six months ended June 30, 2021[52]. Financial Position - As at 30 June 2021, the Group's net current assets were HK$404.6 million, representing an increase of HK$3.4 million compared to HK$401.2 million as at 31 December 2020[75]. - The Group had total interest-bearing bank borrowings of HK$1.2 million as at 30 June 2021, down from HK$12.1 million as at 31 December 2020[74]. - The Group's gearing ratio decreased to 0.2% as at 30 June 2021, down from 2.2% as at 31 December 2020[85]. - The Group's cash and cash equivalents amounted to HK$264.8 million as at 30 June 2021, indicating a robust financial position[76]. - Total assets as of June 30, 2021, amounted to HK$700,734,000, compared to HK$684,740,000 as of December 31, 2020[182]. - Total liabilities as of June 30, 2021, were HK$136,550,000, a decrease from HK$132,237,000 as of December 31, 2020[182]. - Total current liabilities decreased to HK$116,443,000 from HK$121,485,000, reflecting a reduction of 4.3%[123]. - Total equity attributable to owners of the parent reached HK$564,184,000, compared to HK$552,503,000, marking an increase of 2.5%[123]. Strategic Initiatives - The Group plans to focus on developing its business-to-customer (B2C) platform and expanding online sales in the second half of 2021[36]. - The Group intends to expand product penetration to more online retail platforms to enhance its online sales strategy[36]. - The Group intends to increase the coverage of its distribution network in the Greater Bay Area, Shanghai, and other affluent cities in the second half of 2021[39]. - The Group is optimistic about its prospects in the second half of 2021 and beyond, leveraging growth opportunities and technology trends[41]. - The company plans to continue expanding its market presence in Mainland China, which has shown significant revenue growth[185]. Employee and Training - The Group employed 219 and 239 employees in Hong Kong and the PRC, respectively, as of June 30, 2021[99]. - The Group provided various training programs to employees, focusing on operational skills and professional knowledge, to support business strategy implementation[100]. Compliance and Reporting - The financial statements for the six months ended June 30, 2021, were prepared in accordance with HKAS 34, ensuring compliance with interim financial reporting standards[141]. - The company adopted revised HKFRSs for the first time, which may impact financial reporting related to interest rate benchmarks[150]. - The unaudited condensed consolidated financial statements should be read in conjunction with the Group's consolidated financial statements for the year ended December 31, 2020, highlighting the importance of comprehensive financial analysis[142].
捷荣国际控股(02119) - 2021 - 中期财报