Financial Performance - The group's unaudited consolidated revenue for the first half of 2024 was HKD 5.417 billion, an increase of 8.6% compared to HKD 4.989 billion in the same period last year[3]. - The unaudited consolidated operating profit was HKD 130.53 million, a decrease of 6.3% from HKD 139.25 million year-on-year[3]. - The unaudited consolidated profit attributable to shareholders was HKD 57.73 million, down 2.4% from HKD 59.13 million in the previous year[3]. - Gross profit for the same period was HKD 240,971,000, down 16.7% from HKD 289,624,000 in 2023[19]. - The operating profit decreased to HKD 130,533,000, a decline of 6.2% from HKD 139,252,000 in the previous year[19]. - The net profit attributable to the company's shareholders was HKD 57,727,000, a decrease of 2.4% compared to HKD 59,132,000 in 2023[19]. - Segment profit, including share of losses from joint ventures, was 97,038 thousand for the first half of 2024, down from 116,662 thousand in 2023, indicating a decline of about 16.9%[27]. Revenue Breakdown - The revenue from the food biological segment was HKD 4.429 billion, accounting for 81.8% of the group's total revenue, with a year-on-year increase of 15.6%[5]. - Sales of food biological products amounted to HKD 4,357,394,000, up 16.1% from HKD 3,753,369,000 in the previous year[25]. - The tinplate business generated revenue of HKD 979 million, a decrease of 14.7% compared to the previous year, with a segment profit decline of 71.0% to HKD 14.98 million[6]. - The revenue from tinplate products decreased to HKD 979,256,000, down 14.8% from HKD 1,147,796,000 in the prior year[25]. - The property leasing segment reported an occupancy rate of 82.6%, down 8.0% year-on-year, with revenue of HKD 8.65 million, a decrease of 13.5%[7]. - The rental income from property leasing was HKD 8,649,000, down from HKD 9,997,000 in the previous year[25]. Assets and Liabilities - As of June 30, 2024, the group's total assets were HKD 4.703 billion, while total liabilities were HKD 1.913 billion, reflecting a decrease in both compared to the end of 2023[9]. - The group's cash and cash equivalents amounted to HKD 736 million, a decrease of 28.9% from the end of 2023, with 80.7% in RMB[10]. - Total assets as of June 30, 2024, were 4,702,840 thousand, slightly decreased from 4,789,001 thousand as of December 31, 2023, reflecting a reduction of approximately 1.8%[28]. - Total liabilities decreased to 1,913,144 thousand as of June 30, 2024, from 1,993,356 thousand at the end of 2023, a decline of about 4.0%[28]. - The company's total assets less current liabilities stood at HKD 3,370,148,000, a decrease from HKD 3,424,192,000 at the end of 2023[21]. - The net asset value was HKD 2,789,696,000, a slight decrease from HKD 2,795,645,000 at the end of 2023[21]. Cash Flow and Expenditures - The capital expenditure for the first half of 2024 was HKD 23.42 million, with an estimated total capital expenditure for the year projected at HKD 51.90 million[11]. - The cost of acquiring and relocating property, plant, and equipment for the six months ended June 30, 2024, was HKD 23,420,000, a significant decrease from HKD 259,432,000 in the same period of 2023[38]. - The net cash and cash equivalents as of June 30, 2024, were HKD 736,175,000, a decrease of 29.0% from HKD 1,035,928,000 at the end of 2023[21]. - The available bank financing as of June 30, 2024, was HKD 3,303,849,000, slightly down from HKD 3,308,374,000 as of December 31, 2023[44]. Employee and Operational Metrics - The group employed 1,462 full-time employees as of June 30, 2024, a decrease of 3.8% from 1,520 employees at the end of 2023[16]. - The company is focusing on innovation and quality in its food biotechnology business, aiming for sustainable development and market expansion in the Guangdong-Hong Kong-Macao Greater Bay Area[17]. - The group is enhancing its risk management and optimizing core business strategies to ensure stable growth amid global economic uncertainties[17]. Dividends and Shareholder Information - The company maintained a mid-term dividend of HKD 9,076,000, unchanged from the previous year[19]. - The interim dividend declared for the period was 9,076 thousand, consistent with the same amount declared in the previous year[35]. - The board declared an interim dividend of HKD 0.01 per share for 2024, consistent with the interim dividend of HKD 0.01 per share in 2023[47]. Compliance and Governance - The mid-term performance announcement is published on the Hong Kong Stock Exchange website and the company's website[51]. - The board of directors includes three executive directors and three independent non-executive directors[51]. - The announcement date is August 30, 2024, indicating a timely update for shareholders[51]. - The company is committed to ensuring the accuracy of the information provided in the report[51]. - The chairman of the board is Chen Ben Guang, highlighting leadership continuity[51]. - The board composition suggests a balanced governance structure with both executive and independent members[51].
广南(集团)(01203) - 2024 - 中期业绩