Financial Performance - For the six months ended June 30, 2021, the company reported revenue of HKD 115,828,000, a 43.1% increase from HKD 80,909,000 in the same period of 2020[12]. - Gross profit for the same period was HKD 25,635,000, representing a 56.5% increase compared to HKD 16,407,000 in 2020[12]. - Operating profit for the six months ended June 30, 2021, was HKD 7,858,000, up 157.5% from HKD 3,047,000 in the previous year[12]. - The net profit attributable to the owners of the company for the six months was HKD 5,388,000, an increase of 5.5% from HKD 5,107,000 in 2020[14]. - The total comprehensive income for the period was HKD 12,059,000, compared to HKD 6,286,000 in the same period last year, marking a 92.5% increase[14]. - Basic earnings per share for the period was HKD 0.80, compared to HKD 0.75 in the previous year, reflecting a 6.7% increase[14]. - The company reported a pre-tax profit of HKD 8,423,000 for the six months ended June 30, 2021, compared to HKD 5,382,000 in the same period of 2020, reflecting a growth of 56%[39]. - The company reported a net profit attributable to shareholders of HKD 5,388 for the six months ended June 30, 2021, compared to HKD 5,107 for the same period in 2020, reflecting an increase of approximately 5.5%[57]. - Basic earnings per share for the six months ended June 30, 2021, was HKD 0.83, up from HKD 0.79 in the same period of 2020, representing a growth of 5.1%[57]. - The company recorded a financial asset impairment loss of HKD 3,135,000 during the reporting period, which was not present in the previous year[39]. Revenue Breakdown - The energy storage segment generated external customer revenue of HKD 43,911,000, while the EPC services segment contributed HKD 29,398,000, and automotive glass repair and replacement services brought in HKD 19,971,000[34]. - Revenue from customers in China amounted to HKD 63,626,000, an increase from HKD 58,649,000 in the prior year, while revenue from Hong Kong decreased to HKD 19,971,000 from HKD 22,036,000[42]. - Revenue from the energy storage segment was HKD 478,197, while the EPC services segment generated HKD 92,906, and automotive glass and repair services contributed HKD 34,364 as of June 30, 2021[43]. - Revenue increased by HK$29.4 million from new photovoltaic power station EPC services since Q3 2020[112]. - The automotive glass repair and replacement service recorded revenue of HKD 20.0 million, a decrease attributed to the impact of the COVID-19 pandemic and local consumption weakness[104]. - Other business segments, including forklift trade, saw a revenue increase of 55.2% to HKD 22.5 million, driven by rising demand for lithium battery forklifts[106]. Assets and Liabilities - As of June 30, 2021, total assets amounted to HKD 641,474 thousand, an increase from HKD 555,559 thousand as of December 31, 2020, representing a growth of approximately 15.4%[16]. - Non-current assets increased to HKD 355,440 thousand from HKD 251,786 thousand, marking a significant rise of about 41.2%[16]. - Current liabilities rose to HKD 187,517 thousand, up from HKD 109,232 thousand, indicating an increase of approximately 71.5%[16]. - The company reported a net asset value of HKD 453,415 thousand as of June 30, 2021, compared to HKD 442,479 thousand at the end of 2020, showing a slight increase of approximately 2.1%[18]. - Total liabilities as of June 30, 2021, were HKD (142,434), compared to HKD (104,033) as of December 31, 2020, indicating an increase in liabilities by approximately 37%[43]. - The company's total liabilities increased to HK$130,224,000 as of June 30, 2021, compared to HK$87,799,000 as of December 31, 2020, reflecting a rise of 48.2%[71]. Cash Flow and Investments - The net cash flow from operating activities for the six months ended June 30, 2021, was a negative HKD 18,600 thousand, compared to a positive HKD 2,580 thousand in the same period of 2020[22]. - Cash and cash equivalents decreased to HKD 97,208 thousand from HKD 152,930 thousand, reflecting a decline of about 36.4%[22]. - The company incurred a significant investment cash outflow of HKD 74,925 thousand for the purchase of property and equipment, compared to HKD 17,292 thousand in the previous year[22]. - The financing activities generated a net cash inflow of HKD 35,401 thousand, contrasting with a net cash outflow of HKD 32,056 thousand in the same period last year[22]. - The company has contracted but not yet allocated capital expenditures of HKD 42.3 million for the construction of production facilities and purchase of equipment[18]. - Capital expenditures for the six months ended June 30, 2021, amounted to HK$111.0 million, significantly higher than HK$17.3 million in 2020[127]. Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[12]. - The company is engaged in the production and sale of energy storage products and provides related contract processing services, indicating a focus on market expansion in the energy sector[24]. - The company has begun evaluating the impact of adopting new accounting standards on its financial statements and performance[32]. - The company plans to adopt new and revised Hong Kong Financial Reporting Standards, which are expected to have no significant impact on the group's financial performance or disclosures[32]. - The company aims to expand its EPC services in the photovoltaic market, anticipating increased demand for rooftop solar solutions[109]. - The company plans to continue investing in R&D for lithium battery products, focusing on providing diversified power products and technical services[101]. Corporate Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[171]. - The company has complied with the corporate governance code as per GEM listing rules during the six months ended June 30, 2021[167]. - The company has adopted a code of conduct for securities trading by directors, which is at least as stringent as the GEM Listing Rules[150]. - The company has maintained high standards of corporate governance, transparency, and business practices essential for its success[167]. - The company has not engaged in any competitive business activities that could lead to conflicts of interest with its directors or major shareholders[166]. Shareholder Information - Dr. Li Hsien Yi holds 108,781,432 shares, representing approximately 16.78% of the company's issued share capital[151]. - Mr. Dong Qing Bo owns 40,014,968 shares, accounting for about 6.17% of the company's issued share capital[151]. - The total shares held by the concert party, including Dr. Li Hsien Yi and Mr. Dong Qing Bo, amount to 461,393,649 shares, which is approximately 71.16% of the company's issued share capital[151]. - The company has a diverse shareholder base with significant holdings concentrated among a few key individuals[151]. - The company did not recommend any dividend for the six months ended June 30, 2021, compared to zero in 2020[168].
信义储电(08328) - 2021 - 中期财报