Financial Performance - Revenue for the six months ended June 30, 2024, reached $163,348,000, an increase of 80.2% compared to $90,657,000 in the same period of 2023[7]. - Gross profit for the same period was $50,192,000, up 78.1% from $28,182,000, resulting in a gross margin of 30.7%[7][8]. - The company reported a net profit of $11,107,000, a remarkable increase of 610.6% from $1,563,000 in the same period last year[7]. - Operating profit increased significantly to $14,027,000 from $2,524,000, reflecting a strong operational performance[73]. - The total comprehensive income for the period was $10,925,000, compared to $1,526,000 in the previous year, showing a significant improvement[76]. - Basic earnings per share for the period were 2.80 cents, compared to 0.39 cents in the previous year[73]. - The segment performance showed a total segment profit of $16,875,000 for the first half of 2024, up from $4,475,000 in the previous year, reflecting a growth of 276%[87]. E-commerce and Market Expansion - The company focuses on e-commerce platforms, including www.yesasia.com and www.yesstyle.com[4]. - The company aims to enhance its market presence and expand its product offerings in the e-commerce space[4]. - The number of e-commerce platform customers increased to 1,304,000, a significant rise from 796,000 in the previous year[9]. - Revenue from beauty products surged to $149,361,000, compared to $69,833,000 in the prior year, reflecting strong market demand[9]. - YesStyle platform's revenue skyrocketed approximately 75.1% to about $125,132,000, driven by record sales of beauty products[15]. - The company continues to expand its social media marketing efforts and invest in multilingual website versions to tap into Latin American and Middle Eastern markets[19]. Logistics and Operations - The company is involved in the logistics management sector through its subsidiary 嘉泓物流[4]. - The company plans to establish a second autonomous robotic warehouse in Hong Kong, expected to begin operations in Q1 2025, to enhance delivery efficiency and meet rising customer demand[21]. - Three overseas warehouses have been set up in the US, UK, and Germany to support the growing K-Beauty market and improve logistics capabilities[23]. - The logistics center in Hong Kong will play a crucial role in addressing market demand fluctuations, improving operational efficiency with minimal manpower[21]. Customer Engagement and Marketing - YesStyle mobile app downloads reached 2,264,000, up from 1,683,000, indicating growing user engagement[11]. - The average order value increased to $84.0 from $78.9, suggesting higher spending per transaction[9]. - The cost to acquire each new customer rose to $10.6 from $9.6, reflecting increased marketing investments[9]. - The return rate for YesStyle decreased to 0.4% from 0.8%, indicating improved customer satisfaction and product quality[9]. - The number of unique influencers for YesStyle increased to approximately 365,000, up from 333,000, with TikTok influencers reaching about 87,000, a growth rate of approximately 20.8%[16]. Financial Position and Capital Management - Cash and bank balances decreased by approximately $18,081,000 to about $6,868,000, primarily due to cash used in operating activities[36]. - The company had no bank borrowings as of June 30, 2024, with unutilized bank financing of approximately $4,355,000[36]. - The company's debt-to-equity ratio decreased from approximately 34.8% as of December 31, 2023, to about 23.9% as of June 30, 2024, primarily due to the amortization of lease liabilities[38]. - The company maintains a conservative approach to financial risk management, avoiding high-leverage or speculative derivative investments[37]. - The company has no significant contingent liabilities as of June 30, 2024, consistent with the previous reporting period[38]. Shareholder Information and Stock Options - The company has not declared any interim dividend for the six months ended June 30, 2024, similar to the prior period[41]. - The company has a stock option plan that allows various executives to subscribe for additional shares, with each having options for 100,000 shares[46]. - A total of 309,000 stock options were granted under the post-IPO stock option plan, allowing for the purchase of up to 3,090,000 shares[57]. - The company aims to attract and retain qualified employees through the stock option plans, aligning their interests with those of the shareholders[55]. - The total number of shares that could be issued upon the exercise of all stock options under the 2016 plan as of June 30, 2024, is 15,817,090, representing about 3.96% of the total issued shares[54]. Governance and Compliance - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[2]. - The audit committee has been established to oversee financial reporting and internal control systems[64]. - The board of directors will review corporate governance policies annually to ensure compliance with the corporate governance code[66]. - The company is compliant with the Securities and Futures Ordinance regarding the disclosure of interests in shares[48].
喆丽控股(02209) - 2024 - 中期业绩