Financial Performance - Revenue for the six months ended June 30, 2024, increased to HK$161,393,000, up 4.9% from HK$154,951,000 in the same period of 2023[1] - Gross profit for the period was HK$43,401,000, representing a slight increase of 2.4% compared to HK$42,384,000 in 2023[1] - Profit for the period attributable to shareholders rose to HK$7,800,000, a 21.5% increase from HK$6,420,000 in the previous year[3] - Basic and diluted earnings per share increased to 3.9 HK cents, up from 3.2 HK cents in 2023[1] - Total comprehensive income for the period attributable to shareholders was HK$3,219,000, compared to HK$1,805,000 in the same period last year[3] - Operating profit for the six months ended June 30, 2024, was HK$8,570,000, compared to HK$8,091,000 in the same period of 2023, indicating a growth of 5.9%[23][25] - The Group's net profit margin increased to approximately 4.8% for the six months ended 30th June 2024, compared to approximately 4.1% for the first half of 2023, due to higher rental and interest income[103] Assets and Liabilities - Total equity as of June 30, 2024, was HK$412,796,000, an increase from HK$409,524,000 at the end of 2023[5] - Current assets decreased to HK$213,372,000 from HK$223,195,000 at the end of 2023[5] - Total assets increased to HK$463,156,000, compared to HK$454,852,000 at the end of 2023[6] - Total liabilities increased to HK$50,360,000 from HK$45,328,000 at the end of 2023[6] - Retained earnings as of June 30, 2024, were HK$384,341,000, up from HK$376,469,000 at the end of 2023[5] - Trade receivables increased to HK$75,112,000 as of June 30, 2024, compared to HK$67,741,000 as of December 31, 2023, representing an increase of approximately 10.5%[71] Cash Flow and Investments - Net cash generated from operating activities for the six months ended June 30, 2024, was HK$20,185,000, a decrease of 22.4% from HK$26,109,000 in the same period of 2023[10] - Net cash used in investing activities amounted to HK$7,197,000, compared to HK$1,002,000 in the previous year, indicating a significant increase in investment outflows[10] - Cash and cash equivalents at June 30, 2024, were HK$51,443,000, up 85.0% from HK$27,769,000 at the same date in 2023[10] - The Group's cash inflows from the sale of investment securities amounted to HK$4,688,000, with dividends received totaling HK$38,000[10] Segment Performance - The America segment generated the highest revenue of HK$113,532,000 for the six months ended June 30, 2024, compared to HK$102,732,000 in 2023, reflecting a growth of 10.8%[23][25] - Power cords accounted for 56% of the Group's revenue, while wire harnesses recorded 43%, and cables, wires, and plastic resins accounted for 1%[97] - Turnover from the US market increased by approximately 10% to HK$113,532,000, representing about 70% of the Group's total turnover[98] Dividends and Shareholder Information - The company declared an interim dividend of HK$0.02 per share for the six months ended June 30, 2024, totaling HK$3,979,000, compared to no dividend in the same period of 2023[46] - The total interests of Mr. Mon and Ms. Koo in Spector Holdings are 99.9% and 0.1%, respectively, reflecting their significant control over the company[117][120] Corporate Governance and Compliance - The company has complied with the Corporate Governance Code during the six months ended June 30, 2024[125] - The audit committee reviewed the unaudited condensed consolidated financial information for the six months ended June 30, 2024[122] - The company has established various committees to enhance corporate governance standards[123] Market Conditions and Future Outlook - The ongoing high interest rate environment is expected to impact business activities, with potential shifts in manufacturing bases and sourcing away from China[107] - The Group anticipates continued economic uncertainties due to geopolitical tensions and potential recession, which may affect trade volumes in export markets[104] Employee Information - As of June 30, 2024, the Group employed approximately 780 full-time staff, an increase from 730 as of 31st December 2023, with a male to female ratio of 1:2.0[111] - The company encourages employee participation in external courses for continued learning, in addition to on-the-job training[113]
恒都集团(00725) - 2024 - 中期财报