Financial Performance - The group recorded revenue of approximately HKD 205.1 million for the six months ended September 30, 2021, an increase of about HKD 44.3 million or 27.6% compared to the same period in 2020[3]. - The net profit attributable to the owners of the company was approximately HKD 19.7 million, representing an increase of about HKD 6.4 million or 48.6% from HKD 13.2 million for the six months ended September 30, 2020[4]. - The gross profit for the six months ended September 30, 2021, was HKD 33.6 million, up from HKD 22.8 million in the same period of 2020, indicating a significant improvement in profitability[8]. - The basic earnings per share for the six months ended September 30, 2021, was HKD 7.03, compared to HKD 4.73 for the same period in 2020, reflecting a growth of 48.6%[8]. - The group reported a net profit margin of approximately 9.6% for the six months ended September 30, 2021, compared to 8.2% for the same period in 2020, indicating improved operational efficiency[4]. - For the six months ended September 30, 2021, the company's profit attributable to owners was HKD 19,676,000, an increase of 48.5% compared to HKD 13,245,000 for the same period in 2020[47]. - Revenue increased by approximately 27.6% to about HKD 205.1 million for the six months ended September 30, 2021, compared to approximately HKD 160.8 million for the same period in 2020[75]. Revenue Breakdown - Revenue from frozen seafood products for the six months ended September 30, 2021, was HKD 205,087 thousand, up from HKD 160,763 thousand in the same period of 2020, representing a growth of approximately 27.5%[37]. - The revenue from shrimp products increased to HKD 55,790 thousand for the six months ended September 30, 2021, compared to HKD 30,171 thousand in the same period of 2020, marking an increase of 85.1%[37]. - Revenue from crab and roe products reached HKD 20,498 thousand for the six months ended September 30, 2021, compared to HKD 12,862 thousand in the same period of 2020, reflecting a growth of 59.1%[37]. - The company reported that sales to frozen seafood resellers accounted for HKD 197,971 thousand for the six months ended September 30, 2021, compared to HKD 153,107 thousand in the previous year, indicating a growth of 29.5%[40]. - Revenue from Hong Kong for the six months ended September 30, 2021, was HKD 172,388 thousand, up from HKD 128,342 thousand in the same period of 2020, representing an increase of 34.4%[41]. Cash Flow and Financial Position - The total assets less current liabilities as of September 30, 2021, amounted to HKD 173.7 million, an increase from HKD 161.4 million as of March 31, 2021[14]. - The group’s cash and cash equivalents decreased to HKD 24.1 million from HKD 35.6 million as of March 31, 2021[11]. - Trade and other receivables increased significantly to HKD 76.5 million from HKD 51.9 million as of March 31, 2021, indicating improved sales performance[11]. - The group’s total equity as of September 30, 2021, was HKD 173.2 million, up from HKD 160.5 million as of March 31, 2021[14]. - For the six months ended September 30, 2021, the net cash used in operating activities was HKD (3,594) thousand, a significant decrease from HKD 19,669 thousand in the same period of 2020[24]. - The total cash and cash equivalents decreased by HKD 11,506 thousand, ending at HKD 24,086 thousand compared to HKD 28,781 thousand at the end of the previous period[24]. - The bank borrowings as of September 30, 2021, were HKD 356,000, a decrease of 55.3% from HKD 796,000 as of March 31, 2021[59]. - The company's debt-to-equity ratio was approximately 0.9% as of September 30, 2021, a decrease from 1.6% as of March 31, 2021, reflecting a stronger balance sheet[93]. Expenses and Costs - The cost of goods sold for the six months ended September 30, 2021, was approximately HKD 171.5 million, representing an increase of about 24.2% from approximately HKD 138.0 million for the same period in 2020[76]. - Selling and distribution costs increased by approximately 53.4% to about HKD 5.3 million for the six months ended September 30, 2021, compared to approximately HKD 3.5 million for the same period in 2020[80]. - Administrative expenses slightly increased to approximately HKD 4.0 million for the six months ended September 30, 2021, from approximately HKD 3.8 million for the same period in 2020, representing an increase of about 4.7%[81]. - Tax expenses for the six months ended September 30, 2021, were approximately HKD 4.2 million, an increase of about 54.6% from approximately HKD 2.7 million for the same period in 2020[83]. Dividends and Shareholder Returns - The group did not recommend the payment of a dividend for the six months ended September 30, 2021[5]. - The company declared an interim dividend of HKD 0.025 per share, totaling HKD 7,000,000 for the period, compared to HKD 6,160,000 for the same period last year[46]. - The board did not recommend any dividend distribution for the six months ended September 30, 2021, consistent with the previous year[95]. Corporate Governance and Compliance - The company has complied with the corporate governance code since its listing on October 19, 2017, ensuring effective management and internal procedures[127]. - The Audit Committee was established on September 21, 2017, and consists of three independent non-executive directors[128]. - The Audit Committee's main responsibilities include recommending the appointment and dismissal of external auditors, reviewing financial statements, and overseeing internal control procedures[130]. - The Committee reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021, and found them compliant with applicable accounting standards and GEM listing rules[130]. - The Board of Directors is composed of Executive Directors and Independent Non-Executive Directors, ensuring a balanced governance structure[130]. Strategic Initiatives - The company plans to continue seeking exclusive agency agreements with existing and new overseas suppliers to expand its product portfolio and maintain competitiveness[74]. - The net proceeds from the share offering amounted to approximately HKD 63.0 million, which will be used for enhancing storage capacity and other strategic initiatives[86]. - The net proceeds from the public offering and placement amounted to approximately HKD 63.0 million, strengthening the company's financial position for business expansion[92]. - No significant investments, acquisitions, or disposals were made by the group during the six months ended September 30, 2021[94]. - The company has not engaged in any buybacks or repurchases of its listed securities during the six months ended September 30, 2021[120].
大洋环球控股(08476) - 2022 - 中期财报