Financial Performance - For the six months ended June 30, 2021, the group reported revenue of HK$89,540,000, a 48% increase from HK$60,522,000 in the same period of 2020[6] - Gross profit for the six months ended June 30, 2021, was HK$36,382,000, representing a 52% increase compared to HK$23,928,000 in 2020[6] - The group achieved a profit before tax of HK$7,712,000 for the six months ended June 30, 2021, compared to a loss of HK$626,000 in the same period of 2020[6] - The net profit attributable to owners of the company for the six months ended June 30, 2021, was HK$7,080,000, compared to a loss of HK$929,000 in 2020[7] - For the six months ended June 30, 2021, the company reported a net profit of HKD 7,038,000, compared to a loss of HKD 943,000 for the same period in 2020, representing a significant turnaround[12] - The company reported a profit of HKD 10,924,000 for the three months ended June 30, 2021, compared to HKD 6,848,000 for the same period in 2020, representing a 59.8% increase[33] - For the six months ended June 30, 2021, the profit attributable to owners was HKD 6,336,000, a significant recovery from a loss of HKD 929,000 in the same period of 2020[33] Assets and Equity - Total assets as of June 30, 2021, amounted to HK$139,196,000, an increase from HK$128,782,000 as of December 31, 2020[9] - The group’s total equity increased to HK$87,868,000 as of June 30, 2021, compared to HK$80,798,000 at the end of 2020[10] - The company’s total equity attributable to owners increased to HKD 90,490,000 as of June 30, 2021, up from HKD 87,637,000 at the beginning of the year[12] Cash Flow and Liquidity - The group's cash and bank balances decreased to HK$50,089,000 as of June 30, 2021, down from HK$65,314,000 at the end of 2020[9] - Cash generated from operating activities for the six months ended June 30, 2021, was HKD 6,261,000, compared to HKD 1,313,000 in 2020, indicating improved operational efficiency[14] - The company’s cash and cash equivalents decreased to HKD 50,089,000 as of June 30, 2021, down from HKD 55,869,000 at the end of June 2020[14] - The company’s current ratio was approximately 2.1 times as of June 30, 2021, down from 2.4 times as of December 31, 2020[54] Expenses - Total employee benefit expenses increased to HKD 31,047,000 for the six months ended June 30, 2021, up from HKD 23,528,000 in 2020, marking a 31.8% rise[30] - Selling expenses increased by approximately HKD 2.2 million or 44.0% to HKD 7.1 million for the six months ended June 30, 2021[46] - Administrative expenses rose by approximately HKD 2.0 million or 11.0% to HKD 20.6 million for the six months ended June 30, 2021[47] Taxation - The total tax expense for the six months ended June 30, 2021, was HKD 601,000, compared to HKD 263,000 in 2020, reflecting a 128.5% increase[27] Trade and Receivables - Trade receivables rose to HKD 34,072,000 as of June 30, 2021, compared to HKD 22,952,000 at the end of 2020, indicating a 48.5% increase[37] - Trade payables increased to HKD 20,165,000 as of June 30, 2021, from HKD 13,703,000 at the end of 2020, representing a 47.2% rise[38] Corporate Strategy and Governance - The company plans to continue expanding its market presence and investing in new product development to drive future growth[5] - The company is in the final stages of acquiring an art and graphic design company in Singapore to enhance its design services[41] - The company has complied with all corporate governance codes as per GEM listing rules during the six months ending June 30, 2021[73] - No directors or major shareholders have engaged in any competing business activities during the six months ending June 30, 2021[74] Shareholder Information - As of June 30, 2021, the company has a total of 222,760,000 shares held by HM Ultimate Holdings Limited, representing 55.69% of the issued shares[62] - The beneficial ownership of HM Ultimate is split between Yu Zhiming (70.2%) and Chen Weilian (29.8%)[64] - The beneficial ownership of Chen Weilian is also reflected in the spouse's rights, with 222,760,000 shares attributed to Huang Meizhi[65] Audit and Compliance - The Audit Committee was established on December 15, 2016, to oversee financial reporting processes and risk management[77] - The Audit Committee consists of three independent non-executive directors, including Mr. Wu Haoyun as the chairman[77] - The committee reviewed the accounting principles adopted by the group and discussed matters related to audit, risk management, and internal controls[77] - The unaudited condensed consolidated financial statements for the six months ended June 30, 2021, were reviewed by the committee[77]
HM INTL HLDGS(08416) - 2021 - 中期财报