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隽思集团(01412) - 2024 - 中期业绩
Q P GROUPQ P GROUP(HK:01412)2024-08-23 09:02

Financial Performance - Total revenue for the six months ended June 30, 2024, was approximately HKD 538.6 million, an increase of about 16.9% compared to HKD 460.7 million for the same period in 2023[1][2] - Profit attributable to equity shareholders for the six months ended June 30, 2024, was approximately HKD 54.0 million, representing an increase of about 50.9% from HKD 35.8 million in the same period of 2023[1][2] - Basic earnings per share for the six months ended June 30, 2024, was approximately HKD 0.1015, compared to HKD 0.0672 for the same period in 2023[1][2] - The company reported a total comprehensive income of HKD 34.4 million for the six months ended June 30, 2024, compared to HKD 6.6 million for the same period in 2023[3][4] - The company reported a net profit of HKD 52,675,000 for the six months ended June 30, 2024, compared to HKD 35,770,000 for the same period in 2023, representing a growth of 47.3%[16] - The company's net profit margin improved from approximately 7.8% in the first half of 2023 to approximately 9.8% in the first half of 2024[40] Dividends - The board declared an interim dividend of HKD 0.03 per share for the first six months of 2024, up from HKD 0.02 per share in the same period of 2023[1] - The company declared an interim dividend of 3.0 HKD cents per share for the reporting period, compared to 2.0 HKD cents per share for the same period in 2023, marking a 50% increase[28] - The board declared an interim dividend of HKD 0.03 per share, totaling approximately HKD 16 million for the first six months of 2024[69] - The interim dividend will be paid to shareholders listed on the register as of September 20, 2024[69] Revenue Breakdown - Sales from the website segment amounted to HKD 99,790,000, while OEM sales contributed HKD 438,840,000, indicating a strong performance in OEM sales[15] - Revenue from major customers (each contributing 10% or more of total revenue) included HKD 104,976,000 from Customer A and HKD 170,499,000 from Customer B[17] - Revenue from the United States increased to HKD 340,323,000, up from HKD 317,562,000 in the previous year, showing a growth of 7.2%[18] - OEM sales revenue rose by approximately 19.3% from about HKD 367.8 million in the first half of 2023 to about HKD 438.8 million in the first half of 2024, attributed to increased demand for tabletop game products from major OEM customers[40] - Website sales revenue increased by approximately 7.4% from about HKD 92.9 million in the first half of 2023 to about HKD 99.8 million in the first half of 2024[40] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 1,161.5 million, compared to HKD 1,090.7 million as of December 31, 2023[5] - Current assets as of June 30, 2024, were HKD 532.6 million, an increase from HKD 444.0 million as of December 31, 2023[5] - Total liabilities as of June 30, 2024, were HKD 334.9 million, compared to HKD 255.9 million as of December 31, 2023[7] - The company's borrowings increased from approximately HKD 47.879 million as of December 31, 2023, to approximately HKD 96.174 million as of June 30, 2024, representing an increase of about 101.0%[33] - Trade payables rose to approximately HKD 92.408 million as of June 30, 2024, compared to HKD 64.436 million as of December 31, 2023, an increase of about 43.4%[35] Expenses - Total costs of sales, distribution expenses, and administrative expenses amounted to 491,719,000 HKD for the six months ended June 30, 2024, compared to 441,346,000 HKD in 2023, indicating an increase of 11.4%[22] - Employee benefits expenses, including directors' remuneration, rose to 180,866,000 HKD for the six months ended June 30, 2024, compared to 161,655,000 HKD in 2023, an increase of 11.8%[22] - Sales and distribution expenses increased by approximately 6.8% to about HKD 50.3 million in the first half of 2024, up from approximately HKD 47.1 million in the same period of 2023[49] - Administrative expenses rose by approximately 9.0% to about HKD 95.2 million in the first half of 2024, compared to approximately HKD 87.4 million in the first half of 2023[50] Operational Insights - The company is currently evaluating the impact of new accounting standards on its financial performance and position[12] - Management has determined two reportable segments based on sales channels: website sales and OEM sales, with performance assessed based on gross profit metrics[15] - The company plans to enhance operational efficiency and capacity at its Vietnam facility while pursuing digitalization and smart operations initiatives[42] Employee and Staffing - The group employed a total of 3,085 staff as of June 30, 2024, an increase from 2,677 employees as of December 31, 2023[63] - Total employee costs, including directors' remuneration, were approximately HKD 180.9 million for the first half of 2024, compared to HKD 161.7 million for the same period in 2023[63] Audit and Governance - The independent auditor has reviewed the unaudited interim condensed consolidated financial information for the first six months of 2024[73] - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and practices adopted by the group[72] Miscellaneous - The company has not made any impairment provisions for trade receivables as of June 30, 2024, due to the absence of significant customer defaults[31] - There have been no significant events affecting the group since the end of the first six months of 2024 up to the date of this announcement[71] - The company has not disclosed any changes in the biographies of directors since the date of the 2023 annual report[67] - The chairman of the board is Zheng Wenwei, with a team of executive and independent non-executive directors[75]