Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 1,166,073 thousand, representing a 36% increase from HKD 857,538 thousand in the same period of 2023[2] - Gross profit for the same period was HKD 132,255 thousand, with a gross margin of 11.3%, down from 13.1% in 2023[2] - Profit attributable to owners of the company was HKD 23,967 thousand, slightly down from HKD 24,128 thousand in the previous year[2] - Basic and diluted earnings per share were 10.90 HKD cents, compared to 10.98 HKD cents in 2023[2] - Total comprehensive income for the period was HKD 22,803 thousand, significantly up from HKD 6,493 thousand in the same period last year[3] - The company reported a profit before tax of HKD 27,747,000 for the six months ended June 30, 2024[15] - The company reported a pre-tax profit of HKD 25,005,000 for the six months ended June 30, 2024, compared to a loss in the previous period[1] Revenue Breakdown - Revenue from LED backlighting was HKD 899,515,000, up 28.8% from HKD 698,617,000 in the previous year[11] - Revenue from semiconductor storage chips surged to HKD 217,443,000, a significant increase of 102.0% compared to HKD 107,731,000 in 2023[11] - Revenue from the core LED business was approximately HKD 948,630,000, representing a year-on-year increase of about 26.5%[37] - The automotive display segment generated revenue of approximately HKD 823,079,000 from LED backlight products during the review period[38] - Revenue from other industrial equipment display backlight decreased by approximately 21.9% to about HKD 64,815,000, compared to HKD 82,951,000 for the six months ended June 30, 2023[39] - Total revenue from the LED lighting services business was HKD 49,115,000, down from HKD 51,190,000 for the six months ended June 30, 2023[40] Assets and Liabilities - Non-current assets as of June 30, 2024, totaled HKD 454,620 thousand, an increase from HKD 419,283 thousand at the end of 2023[4] - Current assets increased to HKD 2,243,917 thousand from HKD 1,979,440 thousand at the end of 2023, driven by higher inventory and accounts receivable[4] - The total assets of the group increased to HKD 2,698,537,000 as of June 30, 2024, compared to HKD 2,398,723,000 as of December 31, 2023, reflecting a growth of approximately 12.5%[17] - The total liabilities rose to HKD 1,805,656,000 as of June 30, 2024, from HKD 1,530,519,000 at the end of 2023, marking an increase of about 17.9%[18] - Total accounts receivable as of June 30, 2024, amounted to HKD 956,403,000, an increase of 7.43% from HKD 890,181,000 as of December 31, 2023[30] - Accounts payable decreased to HKD 468,032,000 as of June 30, 2024, down 13.29% from HKD 539,744,000 at the end of 2023[33] Expenses and Costs - Research and development expenses for the period were HKD 34,175 thousand, compared to HKD 30,850 thousand in the previous year, indicating increased investment in innovation[2] - Financial costs rose to HKD 32,027 thousand from HKD 17,610 thousand, reflecting higher borrowing costs[2] - Employee costs totaled HKD 170,859,000 for the current period, up from HKD 130,220,000 in the prior year, indicating an increase of approximately 31%[24] - Administrative expenses, including R&D, were approximately HKD 98,281,000, an increase of about 21.3% from HKD 81,020,000 in the previous year, mainly due to increased personnel to support business expansion[50] Corporate Governance and Future Outlook - The company is focused on expanding its market presence in high-tech electronic components and products, particularly in LED and semiconductor sectors[14] - The company continues to invest in research and development to enhance its product offerings and maintain competitive advantage in the market[14] - The company aims to strengthen its R&D center and talent pool to maximize potential business prospects and prepare for new opportunities[44] - The company and its management are committed to maintaining good corporate governance, emphasizing transparency, accountability, and independence for all shareholders[57] Dividends and Shareholder Information - The company did not declare or recommend any dividends for the six months ended June 30, 2024, consistent with the previous year[25] - The board does not recommend the distribution of any interim dividend for the six months ending June 30, 2024[56] Market Conditions - The GDP of China for the first half of 2024 reached RMB 61.7 trillion, with a year-on-year growth of 5.0%[36] - Sales of new energy vehicles in China reached 3.89 million units from January to May 2024, a year-on-year increase of 32.5%[36]
伟志控股(01305) - 2024 - 中期业绩