Financial Performance - Revenue for the six months ended June 30, 2024, was $65,821 thousand, an increase of 10.5% compared to $59,721 thousand for the same period in 2023[2] - Gross profit for the same period was $6,100 thousand, up from $4,684 thousand, reflecting a gross margin improvement[2] - Net profit attributable to the company's owners for the six months was $27,717 thousand, significantly higher than $300 thousand in the prior year, representing a growth of 9,157%[2][3] - Basic and diluted earnings per share for the period were both 7.64 cents, compared to 0.08 cents in the previous year[2] - Operating profit for the period was $27,717,000, a significant increase from $300,000 in the same period last year[14] - The group's revenue for the six months ended June 30, 2024, was approximately $65.8 million, an increase of about $14.8 million or 29.0% compared to approximately $51.0 million in the same period last year[25] - The net profit attributable to owners for the same period was approximately $27.7 million, compared to approximately $300,000 in the previous year[25] Assets and Liabilities - Total assets as of June 30, 2024, amounted to $417,963 thousand, an increase from $390,380 thousand as of December 31, 2023[4] - Current assets totaled $375,322 thousand, slightly up from $371,475 thousand at the end of 2023[4] - The company reported a net asset value of $417,183 thousand as of June 30, 2024, compared to $389,658 thousand at the end of 2023[5] - The company’s non-current assets were valued at $62,985 thousand, an increase from $37,862 thousand at the end of 2023[4] - The total asset value as of June 30, 2024, was approximately $438.3 million, up from approximately $409.3 million as of December 31, 2023[25] - The net current assets as of June 30, 2024, were approximately $355 million, compared to $352.5 million on December 31, 2023[32] - The company has no bank borrowings or financial commitments as of June 30, 2024, and the debt-to-equity ratio was 0.05%[33] Revenue Breakdown - Revenue from external customers for graphite products was $21,618,000, for electronic products was $44,160,000, and for design and manufacturing was $43,000, totaling $65,821,000 for the six months ended June 30, 2024[10] - The group's graphite business generated revenue of approximately $21.6 million, a 44.2% increase from approximately $15.0 million in the same period last year[30] - The electronic manufacturing services segment reported revenue of approximately $44.2 million, an increase of about $8.3 million or 23.0% compared to approximately $35.9 million in the previous year[30] Investments and Acquisitions - The company acquired 100% of GoMeta Limited to develop third-generation internet-related businesses, including NFTs and cryptocurrencies[28] - The company has invested approximately HKD 90.1 million (about $11.56 million) in capital expenditures for production lines and facilities as of June 30, 2024[32] - The company has entered into a subscription agreement for a zero-interest bond of HKD 21 million, which will be used to develop a new AI business[33] - The company entered into an exchange agreement to sell two production lines and 390,000 tons of graphite ore for $21,045,651, to be paid in graphite products[27] - The company plans to sell its entire production line in Madagascar for $21,045,651, which is expected to be completed by December 31, 2024[34] Corporate Governance - The company has complied with all provisions of the corporate governance code as per the Hong Kong Stock Exchange, except for the separation of the roles of Chairman and CEO, which are held by Mr. Feng Zhong Yun[39] - The company has adopted the standard code of conduct for securities trading for its directors, confirming compliance by all directors for the six months ending June 30, 2024[40] - The company has established an audit committee consisting of three independent non-executive directors to review and monitor the financial reporting process, risk management, and internal control systems[43] Dividends and Share Capital - The company decided not to declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[20] - The company’s total issued and paid-up ordinary shares remained at 362,844,073 shares as of June 30, 2024[20] Other Financial Information - The company incurred depreciation expenses of $1,873,000 for property, plant, and equipment, and $191,000 for right-of-use assets for the six months ended June 30, 2024[12] - The estimated taxable profit from Hong Kong was provisioned at a tax rate of 16.5%, with the first $2,000,000 of taxable profit taxed at 8.25%[13] - Trade receivables aged 0-30 days amounted to $15,288,000, an increase from $9,819,000 as of December 31, 2023[17] - The total amount of other receivables, deposits, and prepayments was $4,977,000 as of June 30, 2024, compared to $2,093,000 as of December 31, 2023[16] - The fair value of financial assets measured at fair value through profit or loss was $31,261,000 as of June 30, 2024, compared to $4,442,000 as of December 31, 2023[22] - As of June 30, 2024, the company's cash and bank balance was approximately $4.4 million, down from $6.1 million on December 31, 2023[32] - The company has no significant contingent liabilities or asset pledges as of June 30, 2024[33] - No purchases, sales, or redemptions of the company's securities were made by the company or its subsidiaries during the six months ending June 30, 2024[41] - As of June 30, 2024, there were no shareholdings or interests in the company's shares or related securities that required registration under the Securities and Futures Ordinance[42] - There were no interests or short positions in the company's shares or related securities held by any major shareholders or other persons as of June 30, 2024[43] Operational Strategies - The company plans to operate its graphite business in a "light asset" manner, selling its production lines while continuing to trade graphite products[27] - The company has installed solar panels at Axiom facilities to mitigate rising energy costs due to inflation and has renegotiated pricing with clients to offset cost increases[29] - The company has a strong outlook for its UK operations, with a historical high in pending orders and expectations to exceed 2020 revenue records[31]
谊砾控股(00076) - 2024 - 中期业绩