Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 8,638.2 million, representing a 7% increase from HKD 8,109.9 million in the same period of 2023[2] - EBITDA for the same period was HKD 1,569.7 million, up 35% from HKD 1,163.1 million year-on-year[2] - Profit before tax increased by 69% to HKD 957.5 million, compared to HKD 567.3 million in the previous year[2] - Net profit attributable to shareholders rose by 72% to HKD 727.8 million, up from HKD 422.2 million in 2023[2] - Basic earnings per share increased by 73% to HKD 0.233, compared to HKD 0.135 in the same period last year[2] - The interim dividend per share was increased by 100% to HKD 0.12, up from HKD 0.06 in 2023[2] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 15,293.4 million, compared to HKD 13,816.9 million at the end of 2023[6] - Cash and cash equivalents increased to HKD 2,761.4 million from HKD 2,027.2 million at the end of 2023[6] - Trade and other receivables rose to HKD 4,077.3 million, up from HKD 3,765.0 million in the previous year[6] - Net debt-to-equity ratio improved to 17% from 18% year-on-year[2] - The total trade receivables as of June 30, 2024, amounted to HKD 3,861,507, with a credit loss allowance of HKD 417,715, resulting in net trade receivables of HKD 3,443,792, compared to HKD 3,101,157 in December 2023[24] Revenue Segments - The company's revenue for the six months ended June 30, 2024, was HKD 5,576,843,000, an increase from HKD 4,877,455,000 in the same period of 2023, representing a growth of approximately 14.3%[12] - The sales of epoxy glass fiber copper-clad laminates reached HKD 719,422,000, up from HKD 660,149,000, indicating a growth of about 8.5%[12] - The revenue from the copper-clad board segment amounted to HKD 8,525,245,000, compared to HKD 7,914,721,000 in the previous year, reflecting an increase of approximately 7.7%[15] - The revenue from customer contracts totaled HKD 8,553,475,000, compared to HKD 8,051,004,000 in the previous year, representing an increase of about 6.2%[12] Costs and Expenses - Interest income from debt instruments rose to HKD 4,751,000, compared to HKD 1,222,000 in the previous year, showing a substantial increase of approximately 288.5%[12] - The company’s financing costs increased to HKD 153,841,000 from HKD 131,689,000, representing a rise of about 16.8%[17] - The total other income, gains, and losses decreased to HKD 48,900,000 from HKD 69,179,000, indicating a decline of approximately 29.3%[16] - Depreciation of property, plant, and equipment for the reporting period was approximately HKD 450,060,000, compared to HKD 456,200,000 for the six months ended June 30, 2023[18] - Income tax expenses for the six months ended June 30, 2024, included corporate income tax in China of HKD 176,617, land appreciation tax of HKD 141, and Hong Kong profits tax of HKD 9,211, totaling HKD 228,129, compared to HKD 144,713 for the same period in 2023[19] Investments and Capital Expenditure - The company invested approximately HKD 195,371,000 in property, plant, and equipment during the reporting period, a decrease from HKD 766,000,000 for the six months ended June 30, 2023[23] - The group invested approximately HKD 200 million in new production facilities during the review period[34] - The group has invested a total of HKD 420 million in solar photovoltaic power generation projects, producing 37 million kWh of green electricity in the first half of 2024, equivalent to saving 10,000 tons of standard coal[36] - The group has invested approximately HKD 80 million in thermal energy recovery equipment, resulting in a reduction of 18,500 tons of carbon dioxide emissions in the first half of 2024[37] Operational Metrics - The copper-clad laminate segment saw a 16% increase in shipment volume, with a monthly average of 8.6 million sheets sold[32] - The segment's revenue increased by 8% to HKD 8,520.5 million, despite rising copper prices[32] - The group employed approximately 9,900 employees as of June 30, 2024, down from 10,000 on December 31, 2023[35] Governance and Oversight - The audit committee has reviewed the accounting policies and practices adopted by the group[43] - The committee discussed the unaudited interim financial report for the six months ending June 30, 2024[43] - The board of directors includes several executive and non-executive members, ensuring diverse oversight[43] - The chairman of the board is Zhang Guohua, indicating strong leadership presence[43] - The company is committed to maintaining internal controls and financial reporting standards[43] - The audit committee's discussions included internal control matters, highlighting a focus on governance[43] - The report is part of the company's ongoing transparency efforts to stakeholders[43] - The financial report is expected to provide insights into the company's performance and future outlook[43] - The company aims to enhance its financial practices through regular reviews and discussions[43] - The date of the report indicates a proactive approach to financial disclosures[43] Sustainability and Future Plans - The group plans to increase copper foil production capacity by 400,000 sheets per month in Thailand in the second half of the year to meet growing overseas customer demand[36] - The group aims to achieve sustainable development goals in environmental, social, and governance (ESG) aspects, with a focus on high-quality continuous development[37] - The group maintains a prudent financial policy and has not entered into any significant derivative financial instruments during the review period[34] - The group benefits from vertical integration and economies of scale, leading to competitive pricing and resilient gross profit margins[36]
建滔积层板(01888) - 2024 - 中期业绩