Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 815,977,000, representing a 7.1% increase from HKD 761,975,000 in the same period of 2023[1] - Gross profit increased by 29.8% to HKD 133,039,000 compared to HKD 102,474,000 in the previous year[1] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose by 28.1% to HKD 68,704,000 from HKD 53,615,000[1] - The company reported a profit attributable to shareholders of HKD 2,756,000, a significant recovery from a loss of HKD 15,368,000 in the prior year[1] - Basic earnings per share improved to HKD 0.58 from a loss of HKD 3.23 per share in the same period last year[1] - Operating profit surged to HKD 32,246,000, up from HKD 3,272,000 in the previous year[2] - The company reported a pre-tax profit of HKD 7,133,000 for the current period, compared to a pre-tax loss of HKD 15,137,000 in the previous year, showcasing a positive shift in financial performance[12] - The company reported a net profit attributable to shareholders of approximately HKD 2,756,000 for the six months ending June 30, 2024, a turnaround from a net loss of approximately HKD 15,368,000 in the same period of 2023[28] Revenue and Market Performance - For the six months ended June 30, 2024, the revenue from external customers in the manufacturing, sales, and distribution of electronic components was HKD 815,977,000, representing an increase from HKD 761,975,000 for the same period in 2023, which is a growth of 7.1%[10] - Revenue from the mainland China market was HKD 620,439,000, up from HKD 532,460,000 in the previous year, marking a growth of 16.5%[13] - The company's revenue for the six months ending June 30, 2024, increased by 7.1% compared to the same period in 2023, reflecting stable demand for its products[28] Profitability and Cost Management - The gross profit for the same period was HKD 133,039,000, with a gross margin of 16.3%, compared to a gross profit of HKD 102,474,000 and a gross margin of 13.4% in the previous year, indicating an improvement in profitability[10] - The company’s operating expenses for the six months ended June 30, 2024, were HKD 104,586,000, slightly lower than HKD 106,773,000 in the same period of 2023, indicating effective cost management[10] - Gross margin improved by 2.9 percentage points, rising from 13.4% to 16.3%, attributed to a shift in product sales structure and effective cost control measures[28] - The company successfully reduced its overall interest expense to 3.2% of revenue, down from 3.7% in the same period of 2023, by optimizing its bank loan portfolio[28] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 3,198,309,000, compared to HKD 3,169,118,000 as of December 31, 2023[4] - Current assets increased to HKD 1,708,987,000 from HKD 1,663,607,000 at the end of 2023[4] - The company’s net asset value decreased slightly to HKD 1,529,919,000 from HKD 1,545,865,000[5] - Non-current liabilities totaled HKD 133,661,000, down from HKD 143,472,000 at the end of the previous year[5] - The group reported a total of HKD 842,330,000 in receivables as of June 30, 2024, compared to HKD 765,705,000 at the end of 2023, reflecting an increase of 10.0%[24] - The total amount of payables increased to HKD 364,587,000 as of June 30, 2024, compared to HKD 234,582,000 at the end of 2023, representing a significant increase of 55.4%[27] Employee and Operational Growth - The total number of employees increased to 2,482 as of June 30, 2024, up from 2,200 as of December 31, 2023, reflecting the company's growth strategy[33] Future Outlook and Strategy - The AI market is projected to exceed USD 184 billion in 2024, with significant growth potential, which the company aims to leverage for driving demand for its capacitors[29] - The company plans to penetrate high-growth markets such as AI, renewable energy systems, and robotics, while maintaining a balanced product portfolio to maximize overall profitability[32] - The company continues to focus on R&D investments to maintain its technological leadership and respond accurately to market demands[30] Compliance and Governance - The company has adopted the standard code of conduct for directors trading in securities as per the listing rules appendix C3, confirming full compliance by all directors during the period[36] - The audit committee has reviewed the unaudited consolidated financial statements for the six months ending June 30, 2024, which will be included in the interim report to be sent to shareholders by September 30, 2024[37] - The board of directors does not recommend the payment of an interim dividend for this period, consistent with the previous period[37]
万裕科技(00894) - 2024 - 中期业绩