Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 313,354,000, representing a 1.0% increase from HKD 310,166,000 in the same period of 2023[2] - Profit before tax decreased by 20.7% to HKD 39,259,000 compared to HKD 49,483,000 in the previous year[3] - Basic and diluted earnings per share fell by 22.6% to 13.7 HKD cents from 17.7 HKD cents year-on-year[3] - Gross profit for the period was HKD 77,519,000, down from HKD 86,496,000, indicating a decline in gross margin[3] - The company reported a total comprehensive income of HKD 29,092,000 for the period, compared to HKD 26,061,000 in the previous year[4] - Total revenue for the six months ended June 30, 2024, was HKD 313,354,000, a slight increase from HKD 310,166,000 in the previous year[15] - The net profit attributable to the company's owners for the same period was approximately HKD 32.8 million, down from approximately HKD 42.6 million in the previous year[35] - Other income and gains for the six months ending June 30, 2024, were approximately HKD 13.2 million, unchanged from the same period last year[36] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 864,763,000, slightly up from HKD 860,836,000 at the end of 2023[5] - The company’s total liabilities increased to HKD 265,874,000 from HKD 207,882,000, indicating a rise in financial obligations[5] - Total equity increased to HKD 725,740,000 from HKD 720,648,000, reflecting a growth of approximately 0.15%[7] - Non-current assets as of June 30, 2024, totaled HKD 305,366 thousand, compared to HKD 308,436 thousand as of December 31, 2023, reflecting a decrease of 0.35%[16] - The group's total current assets as of June 30, 2024, were approximately HKD 812.1 million, up from HKD 747.0 million as of December 31, 2023[44] - The asset-to-liability ratio as of June 30, 2024, was 0.08, compared to approximately 0.05 as of December 31, 2023[45] Revenue Breakdown - Revenue from Mainland China decreased to HKD 124,409,000, down 7.5% from HKD 133,823,000 in the previous year[15] - Revenue from Europe decreased to HKD 58,656,000, down 22.9% from HKD 76,068,000 in the previous year[15] - Revenue from Asia (excluding Mainland China and Hong Kong) increased to HKD 98,557,000, up 49.0% from HKD 66,109,000 in the previous year[15] - Revenue from North America decreased slightly to HKD 29,542,000, down 4.2% from HKD 30,850,000 in the previous year[15] - Revenue from major customers (accounting for 10% or more of total revenue) included Customer A with HKD 69,915 thousand, down from HKD 76,612 thousand in the previous year, a decrease of 8.9%[18] Expenses and Costs - The cost of goods sold was HKD 235,835 thousand, compared to HKD 223,670 thousand in the previous year, an increase of 5.4%[20] - Total tax expense for the period was HKD 6,456 thousand, down from HKD 6,916 thousand, a decrease of 6.6%[24] - Selling and distribution expenses decreased by approximately HKD 0.6 million or 5.8%, to approximately HKD 9.7 million for the six months ending June 30, 2024[37] - General and administrative expenses increased by approximately HKD 0.8 million or 2.0%, to approximately HKD 40.0 million for the same period[38] - Other expenses increased by approximately HKD 0.9 million or 450.0%, to approximately HKD 1.1 million for the six months ending June 30, 2024, mainly due to increased fair value losses on investment properties[39] Cash and Liquidity - Cash and cash equivalents increased to HKD 513,825,000 from HKD 462,796,000, reflecting improved liquidity[5] - The group maintained a prudent cash management policy, ensuring a healthy liquidity position during the review period[46] Employee and Operational Insights - The group had 793 employees as of June 30, 2024, an increase from 739 employees as of December 31, 2023[50] - The group has maintained competitive salary and benefits levels, with employee performance-based rewards under a framework reviewed annually[52] - The company has established strong foundations and deep customer relationships over more than 34 years of operation, serving OEM customers across multiple continents[30] Strategic Initiatives - The company aims to diversify its product mix and market coverage to quickly adapt to changing industry demands[30] - The group plans to develop another production base outside the Shenzhen Pingshan area to maintain competitiveness amid rising labor costs[33] - The company is actively seeking opportunities to establish PCB production bases in mainland China and/or overseas[53] Compliance and Governance - The company confirms compliance with all corporate governance codes as of June 30, 2024[58] - The interim financial results for the six months ending June 30, 2024, have been reviewed by the Audit Committee and are prepared in accordance with applicable accounting standards[60] - The independent auditor's review report will be published in the company's interim report for the six months ending June 30, 2024[60] Market Conditions - The geopolitical tensions, including the ongoing Russia-Ukraine conflict, are significant issues for 2024, impacting energy costs and currency stability[55]
恩达集团控股(01480) - 2024 - 中期业绩