Financial Performance - Total sales revenue for the first half of 2021 was HKD 142.7 million, an increase of 5.0% compared to HKD 135.8 million in the same period of 2020[5]. - Profit attributable to owners of the company was HKD 1.6 million, a turnaround from a loss of HKD 2.2 million in the same period of 2020[5]. - The company recorded revenue of HKD 142.7 million for the period, representing a 5.0% increase compared to HKD 135.8 million in the previous year[20]. - Gross profit for the period was HKD 89.3 million, a 5.8% increase from HKD 84.4 million in the previous year, with a gross margin of 62.6%[24]. - The company achieved a net profit attributable to shareholders of HKD 1.6 million, recovering from a loss of HKD 2.2 million in the previous year[28]. - EBITDA increased by 28.0% to HKD 15.8 million, up from HKD 12.4 million in the previous year, driven by higher total sales[28]. - The company reported a net loss of HKD 2,169,000 for the six months ended June 30, 2020, compared to a profit of HKD 1,590,000 for the same period in 2021, indicating a turnaround in performance[91]. - The total comprehensive income for the period amounted to HKD 3,878,000, recovering from a loss of HKD 5,438,000 in the previous year[84]. - Basic earnings per share for the period were HKD 0.62, compared to a loss per share of HKD 0.84 in the same period of 2020[84]. Sales and Revenue Breakdown - Sales revenue from mainland China increased by 15.7% despite a reduction of 15 sales points, while sales from Hong Kong and Macau recorded a slight growth of 1.8%[4]. - Self-operated retail sales amounted to HKD 103.9 million, accounting for approximately 72.8% of total revenue, despite a decrease of 16 outlets year-on-year[20]. - Distribution sales increased by 55.1% to HKD 13.2 million, up from HKD 8.5 million in the previous year, due to better control of COVID-19 cases in mainland China[20]. - Revenue from Hong Kong and Macau was HKD 106.5 million, a 1.8% increase from HKD 104.6 million, while revenue from mainland China rose by 15.7% to HKD 36.2 million[23]. - E-commerce sales slightly decreased by 4.9% to HKD 14.1 million, down from HKD 14.8 million in the previous year[20]. - Revenue from bedding sets was HKD 79.52 million, a slight increase of 1.3% from HKD 78.47 million in the previous year[107]. - E-commerce sales remained stable at HKD 14.06 million, while distribution business revenue increased to HKD 13.21 million from HKD 8.52 million, reflecting a significant growth of 55.5%[105]. Assets and Liabilities - As of June 30, 2021, the total assets of the group were HKD 473.3 million, a decrease from HKD 510.6 million as of December 31, 2020, representing a decline of approximately 7.6%[30]. - The group's total liabilities decreased to HKD 70.4 million from HKD 85.8 million, indicating a reduction of about 17.8%[30]. - The total equity as of June 30, 2021, was HKD 402,886,000, down from HKD 424,793,000 as of December 31, 2020, indicating a decrease of approximately 5.1%[87]. - The company's current liabilities decreased to HKD 62,121,000 as of June 30, 2021, from HKD 79,341,000 as of December 31, 2020, a reduction of about 21.7%[87]. - The group had no bank borrowings as of June 30, 2021, compared to HKD 2.4 million in borrowings at the end of 2020[31]. - The group reported a net cash outflow from financing activities of HKD 36,340,000 for the six months ended June 30, 2021, compared to HKD 17,570,000 for the same period in 2020[94]. Investments and Capital Expenditures - The group is actively seeking suitable investments that can bring synergies to its existing business, with a total investment in listed companies amounting to HKD 7.2 million as of June 30, 2021, up from HKD 5.2 million at the end of 2020[39]. - The group acquired property, plant, and equipment at a cost of HKD 21,067,000 during the six months ended June 30, 2021, significantly higher than HKD 488,000 in the same period of 2020[131]. - The group recognized an increase in right-of-use assets of approximately HKD 10,682,000 for the six months ended June 30, 2021[125]. - The group has no significant investments or capital asset plans authorized as of the report date[41]. Corporate Governance - The company has established an audit committee to oversee financial reporting and risk management, ensuring compliance with corporate governance standards[71]. - The company has adhered to the corporate governance code and has not deviated from its provisions during the reporting period[69]. - The financial statements have been reviewed by an independent auditor, confirming compliance with the relevant accounting standards[80]. Employee and Management Information - The number of employees decreased to 525 as of June 30, 2021, from 593 in 2020, while total employee costs increased slightly to HKD 43.3 million from HKD 42.5 million[45]. - The total remuneration for directors and other key management personnel was HKD 6,454,000 for the six months ended June 30, 2021, an increase of 3.0% from HKD 6,265,000 in the same period of 2020[160]. - Contributions to retirement benefit plans for key management personnel were HKD 385,000 for the six months ended June 30, 2021, compared to HKD 363,000 for the same period in 2020, indicating a growth of 6.1%[160]. Stock Options and Share Capital - The company has adopted a stock option plan, granting a total of 5,250,000 shares at an exercise price of HKD 1.18 per share, valid from April 17, 2018, to April 16, 2021[48]. - An additional stock option grant of 5,250,000 shares was made on July 2, 2020, at an exercise price of HKD 0.48 per share, valid until July 1, 2023[48]. - As of June 30, 2021, there are 3,906,000 stock options available for issuance under the stock option plan[48]. - As of June 30, 2021, the company has a total of 257,854,000 shares issued[66]. - The total issued and fully paid shares as of June 30, 2021, were 257,854,000 shares, compared to 258,432,000 shares as of June 30, 2020[143]. Dividends - The group declared an interim dividend of HKD 0.05 per share for the six months ended June 30, 2021, compared to no dividend for the same period in 2020[43]. - The total dividend declared for the interim period was approximately HKD 25,785,000, an increase from HKD 7,753,000 in 2020, with a final dividend of HKD 0.10 per share[119].
卡撒天娇(02223) - 2021 - 中期财报