Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 69,235, a decrease of 32.4% compared to HKD 102,379 for the same period in 2019[7] - Gross profit for the six months ended June 30, 2020, was HKD 13,287, down 33.5% from HKD 19,918 in the same period of 2019[7] - The company reported a loss before tax of HKD 1,958 for the six months ended June 30, 2020, compared to a profit of HKD 1,236 for the same period in 2019[7] - The company reported a total comprehensive income of HKD (404,000) for the six months ended June 30, 2020, compared to HKD 10,405,000 in the same period of 2019[20] - The company reported a loss of HKD 2,740,000 for the six months ended June 30, 2020, compared to a profit of HKD 183,000 in the same period of 2019[49] - The company reported a loss attributable to owners of approximately HKD 2.7 million, compared to a profit of HKD 0.2 million in the previous year[80] Assets and Liabilities - Total assets as of June 30, 2020, were HKD 243,937, a decrease from HKD 251,785 as of December 31, 2019[16] - The company's total equity as of June 30, 2020, was HKD 224,923, down from HKD 231,427 as of December 31, 2019[18] - The company’s total liabilities decreased to HKD 19,014 as of June 30, 2020, from HKD 20,358 as of December 31, 2019[18] - Trade receivables as of June 30, 2020, were HKD 41.7 million, down from HKD 64.8 million as of December 31, 2019[52] - Total bank borrowings as of June 30, 2020, were HKD 26.3 million, a decrease from HKD 50.4 million as of December 31, 2019[62] Cash Flow and Financing - The company reported a net cash inflow from operating activities of HKD 25,033,000 for the six months ended June 30, 2020, compared to a net outflow of HKD 22,019,000 in the same period of 2019[23] - The company’s financing activities resulted in a net cash outflow of HKD 25,143,000 for the six months ended June 30, 2020, compared to a net inflow of HKD 17,165,000 in the same period of 2019[23] - Cash and cash equivalents increased to HKD 56,049,000 as of June 30, 2020, compared to HKD 26,329,000 at the end of the same period in 2019[23] Revenue Breakdown - Revenue from key products showed a significant decline, with wire bonding revenue at HKD 53,592,000 for the six months ended June 30, 2020, down 34.1% from HKD 81,257,000 in 2019[30] - Revenue from customers in mainland China (excluding Hong Kong) was HKD 68,681,000 for the six months ended June 30, 2020, down 32.2% from HKD 101,251,000 in 2019[33] - Revenue from packaging glue products decreased by approximately 11.4% to about HKD 10.9 million, down from HKD 12.3 million in the first half of 2019[74] - Revenue from bonding wire products decreased by approximately 34.0% to about HKD 53.6 million, down from HKD 81.3 million in the first half of 2019[74] Cost Management - The total employee costs for the six months ended June 30, 2020, were HKD 13,543,000, a decrease of 18.5% from HKD 16,571,000 in the same period last year[43] - Sales cost decreased by 32.2% to approximately HKD 55.9 million, with gross profit down 33.3% to about HKD 13.3 million, resulting in a gross margin of approximately 19.2%[76] - Selling and distribution expenses were approximately HKD 4.6 million, a decrease from HKD 5.9 million in the same period last year[78] Strategic Focus and Future Outlook - The company continues to focus on the development and sales of semiconductor packaging materials, with no significant changes in accounting policies affecting the financial statements[26] - The company expects semiconductor demand to recover quickly as the impact of COVID-19 diminishes, driven by 5G, AI, and automotive sectors[82] - The company plans to continue developing advanced semiconductor packaging materials and expand its product portfolio to capture market recovery opportunities[83] - The company has launched a new liquid epoxy molding compound for small-pitch LED applications, which is expected to significantly contribute to revenue[83] Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee the financial reporting process and internal control procedures[154] - The company has complied with the corporate governance code as stipulated in the GEM Listing Rules during the reporting period[149] - The company does not have any business interests that compete or may compete with the group’s business among its directors and controlling shareholders[145] Share Capital and Dividends - The company had a total issued share capital of HKD 7,055,000, divided into 705,500,000 shares with a par value of HKD 0.01 each[139] - The board does not recommend the payment of an interim dividend for the period[97] - The company has not granted any share options under the share option scheme since its adoption on May 8, 2018, and there are no unexercised options as of June 30, 2020[144]
骏码半导体(08490) - 2020 - 中期财报