Financial Performance - Total revenue for the six months ended June 30, 2020, was approximately NT$843.34 million, a decrease of about 11.10% compared to NT$948.59 million in the same period of 2019[9]. - The group recorded a total comprehensive income attributable to owners of approximately NT$96.36 million, down from NT$111.63 million in 2019[13]. - Basic earnings per share were approximately NT$0.096, compared to NT$0.1106 in the same period last year[13]. - Revenue from the integrated solutions segment was approximately NT$601.00 million, down from NT$916.59 million in 2019[10]. - Revenue from the sale of semiconductor manufacturing equipment and parts increased to approximately NT$242.34 million, a rise of about 657.36% compared to NT$32.00 million in the same period last year[11]. - The gross profit for the period was approximately NT$225.94 million, with a gross margin of 26.79%, compared to 27.33% in 2019[14]. - The group anticipates expanding its customer base following the acquisition of Chongjun Technology Co., Ltd., which is expected to enhance profitability[18]. - Profit attributable to owners of the company for the six months ended June 30, 2020, was NT$95,980 thousand, a decrease of 13.2% from NT$110,580 thousand in 2019[51]. - The company reported a net other comprehensive income of NT$384 thousand for the six months ended June 30, 2020, compared to NT$1,048 thousand in 2019[51]. - The company recorded a profit of NT$95,980 thousand for the six months ended June 30, 2020, compared to NT$110,580 thousand for the same period in 2019, showing a decrease of approximately 13.1%[59]. Revenue Breakdown - Local business revenue accounted for approximately 56.68% of the group's total revenue, while revenue from the U.S. market increased by 239.56% compared to the previous year[13]. - Revenue from Taiwan for the six months ended June 30, 2020, was TWD 477,965 thousand, a decrease of 21.5% from TWD 609,207 thousand in the same period of 2019[81]. - Revenue from China for the six months ended June 30, 2020, was TWD 230,900 thousand, an increase of 62.5% from TWD 142,049 thousand in 2019[81]. - For the three months ended June 30, 2020, total revenue was TWD 457,165 thousand, a decrease of 13.2% compared to TWD 526,892 thousand in the same period of 2019[79]. - Revenue from providing integrated solutions was TWD 317,591 thousand for the three months ended June 30, 2020, down 37.5% from TWD 508,259 thousand in 2019[79]. - Revenue from the sale of used semiconductor manufacturing equipment and parts increased significantly to TWD 139,574 thousand for the three months ended June 30, 2020, compared to TWD 18,633 thousand in 2019[79]. Cost and Expenses - Total expenses for the six months ended June 30, 2020, amounted to NT$712,250,000, a decrease of 9.7% from NT$788,925,000 in the same period of 2019[87]. - Research expenses for the six months ended June 30, 2020, were NT$527,000, down 16.1% from NT$628,000 in the same period of 2019[87]. - The company reported short-term employee benefits of NT$9,622,000 for the six months ended June 30, 2020, down 25.5% from NT$12,963,000 for the same period in 2019[112]. Financial Position - As of June 30, 2020, the total borrowings of the group amounted to approximately NT$714.22 million, down from NT$778.95 million as of December 31, 2019[20]. - The group's debt-to-equity ratio as of June 30, 2020, was approximately 91%, improved from 102% as of December 31, 2019[20]. - The company maintained a strong financial position with no purchases, sales, or redemptions of its listed securities during the period from January 1 to June 30, 2020[48]. - As of June 30, 2020, total assets decreased to NT$2,342,027 thousand from NT$2,493,789 thousand as of December 31, 2019, representing a decline of approximately 6.1%[54]. - Current assets decreased to NT$1,854,101 thousand, down from NT$2,013,887 thousand, a reduction of about 7.9%[54]. - Total liabilities decreased to NT$1,619,425 thousand from NT$1,867,551 thousand, reflecting a decrease of approximately 13.3%[56]. - The company's equity increased to NT$722,602 thousand as of June 30, 2020, up from NT$626,238 thousand as of December 31, 2019, marking an increase of about 15.4%[54]. - The company’s bank borrowings decreased to NT$436,426 thousand from NT$478,805 thousand, a reduction of about 8.8%[56]. - Trade receivables increased to NT$319,103 thousand from NT$255,569 thousand, reflecting an increase of approximately 24.8%[54]. Strategic Initiatives - The group aims to enhance operational efficiency and control costs effectively amid the challenging global business environment[8]. - The semiconductor industry is recognized as a key strategic sector, with the government prioritizing its development[8]. - The acquisition of Chongjun Technology Co., Ltd. diversified the group's product offerings and opened new revenue streams[10]. - The company is collaborating with the Industrial Technology Research Institute of Taiwan on R&D projects and enhancing its internal R&D efforts[29]. - The company is hiring new employees to manage unrenovated second-hand semiconductor manufacturing equipment and provide comprehensive solutions[29]. Shareholder Information - As of June 30, 2020, Mr. Yang holds 27,975,000 shares, representing approximately 2.79% of the total shares, and has a total interest of 682,050,000 shares, or 68.20% when including concert party interests[30]. - Major shareholder Jia Jian Development Limited holds 374,625,000 shares, accounting for 37.46% of the total shares[32]. - Ever Wealth Holdings Limited and Planeta Investments Limited hold 81,150,000 shares (8.11%) and 63,750,000 shares (6.38%) respectively[32]. - The total interest of the concert parties in the company amounts to 682,050,000 shares, representing 68.20% of the total shares[30]. Dividend Policy - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2020, compared to no dividend for the same period in 2019[29]. - The company does not recommend an interim dividend for the six months ended June 30, 2020, compared to no dividend for the same period in 2019[107]. Acquisitions - The company completed the acquisition of 100% equity in Chongjun Technology for a cash consideration of NT$300,000,000, equivalent to approximately HK$75,000,000[113]. - The fair value of identifiable assets and liabilities acquired from Chongjun Technology amounted to NT$227,080,000, with goodwill of NT$72,920,000 attributed to expected synergies[114]. - If Chongjun Technology had been consolidated from January 1, 2019, the revenue for the six months ending June 30, 2019, would have been approximately NT$1,002,929,000, with a net profit of approximately NT$124,228,000[115]. Risk Management - The company has not made any changes to its risk management arrangements and policies since December 31, 2019[71]. - The company did not recognize any impairment loss provisions as of June 30, 2020, maintaining a stable credit quality[94].
靖洋集团(08257) - 2020 - 中期财报