鹰美(02368) - 2022 - 中期财报

Financial Performance - For the six months ended September 30, 2021, the company reported revenue of HKD 2,018,830 thousand, an increase of 4.9% compared to HKD 1,923,855 thousand in the same period of 2020[2] - Gross profit for the same period was HKD 369,672 thousand, down 14.5% from HKD 432,444 thousand year-on-year[2] - The company recorded a profit before tax of HKD 230,242 thousand, a decrease of 25% from HKD 306,862 thousand in the previous year[2] - Net profit for the period was HKD 173,875 thousand, representing a decline of 26.7% compared to HKD 237,395 thousand in the prior year[3] - Basic earnings per share for the company was HKD 31.52, down 27.4% from HKD 43.39 in the same period last year[2] - Total sales increased by 4.9% to HKD 2,018,800,000, compared to HKD 1,923,900,000 in the same period last year, reflecting a growth of HKD 94,900,000[44] - Gross profit decreased by 14.5% to HKD 369,700,000, down from HKD 432,400,000, resulting in a gross margin decline from 22.5% to 18.3%[44] - Profit before tax fell by 25.0% to HKD 230,200,000, with a profit margin decrease from 16.0% to 11.4%[44] - Net profit attributable to shareholders dropped by 27.4% to HKD 167,700,000, down from HKD 230,800,000, leading to a decrease in net profit margin from 12.0% to 8.3%[46] Assets and Liabilities - Total assets as of September 30, 2021, amounted to HKD 3,335,477 thousand, an increase from HKD 2,764,637 thousand as of March 31, 2021[4] - The company’s total liabilities increased to HKD 1,651,674 thousand from HKD 1,413,564 thousand as of March 31, 2021[5] - The company’s net asset value as of September 30, 2021, was HKD 1,683,803 thousand, compared to HKD 1,551,073 thousand as of March 31, 2021[5] - Accounts receivable increased to HKD 489,982,000 as of September 30, 2021, from HKD 348,046,000 as of March 31, 2021, indicating a significant rise in receivables[26] - Bank loans as of September 30, 2021, totaled HKD 371,806,000, down from HKD 428,438,000 as of March 31, 2021, with all loans due within one year[31] Cash Flow - The company's cash and cash equivalents at the end of the period were HKD 464,213 thousand, up from HKD 371,334 thousand at the end of the previous year[8] - The company reported a net cash inflow from operating activities of HKD 205,471 thousand, down from HKD 228,345 thousand in the same period last year[8] - As of September 30, 2021, the company held cash and bank balances of HKD 464,200,000, an increase from HKD 442,400,000 as of March 31, 2021[49] - The company's bank loan facilities amounted to HKD 977,800,000 as of September 30, 2021, with HKD 371,800,000 drawn down[49] - The company maintains a net cash position, with no applicable debt ratio as of September 30, 2021[50] Dividends - The company declared an interim dividend of HKD 0.22 per share, compared to HKD 0.30 per share in the previous year, totaling HKD 117,040,000[22] - The company plans to pay an interim dividend of HKD 0.22 per share, down from HKD 0.30 per share in the previous year[46] Operational Challenges - The company faced significant challenges due to COVID-19, with production in Vietnam halted for over two months due to government restrictions[40] - Labor and global freight costs have risen, negatively impacting profitability during the reporting period[40] Strategic Focus - The company is focusing on enhancing domestic production capacity in China to capitalize on the growing demand for high-quality sports apparel[41] - Investment in digitalization and innovative capabilities is being prioritized to establish a robust foundation for big data operations[42] - The company is actively exploring strategic investments in new business models and technologies to improve responsiveness to changing customer sales patterns[42] Acquisitions - The company has agreed to acquire PT Gelindo Garmentama for an initial consideration of $1,500,000, with an additional $5,000,000 to be injected into the target company's bank account for share subscription[47] Employee and Governance - The company has approximately 13,000 employees as of September 30, 2021, consistent with the number as of March 31, 2021[53] - The company believes it has complied with the corporate governance code as per the listing rules during the six months ended September 30, 2021, with a noted deviation regarding the roles of the chairman and CEO[67] - The company has a three-member audit committee consisting of independent non-executive directors, ensuring proper oversight of financial matters[70] - The company has established a remuneration committee in accordance with listing rules, comprising independent non-executive directors[71] - The company has established a nomination committee as per listing rules, also comprising independent non-executive directors[72] Sustainability - The company is committed to sustainable development and aims to implement best practices that align with global standards to improve environmental conditions and achieve carbon reduction goals[48]