Revenue and Growth - Total revenue for the six months ended June 30, 2024, was approximately HKD 1,166,073,000, an increase of about 36.0% compared to HKD 857,538,000 for the same period in 2023[2]. - The core LED business revenue was approximately HKD 948,630,000, representing a growth of about 26.5% year-on-year[6]. - Sales revenue from LED backlight products reached approximately HKD 899,515,000, a rise of about 28.8% compared to HKD 698,617,000 in the previous year[6]. - The semiconductor storage chip business generated revenue of HKD 217,443,000, marking a significant increase of 101.8% from HKD 107,731,000 in the prior year[6]. - Revenue from automotive display backlight products was approximately HKD 823,079,000 during the review period[6]. - Revenue from industrial equipment display backlight products decreased by about 21.9% to HKD 64,815,000 compared to HKD 82,951,000 in the same period last year[7]. - Revenue from the LED backlight segment was HKD 899,515, while the LED lighting segment generated HKD 49,115, and the semiconductor storage chip segment contributed HKD 217,443 for the six months ended June 30, 2024[61]. - The total profit before tax for the six months ended June 30, 2024, was HKD 27,747, compared to HKD 25,005 for the same period in 2023, indicating an increase of approximately 11%[62]. Profitability and Margins - The gross profit margin decreased to 11.3% for the six months ended June 30, 2024, down from 13.1% in the same period of 2023[2]. - The overall gross profit for the period was approximately HKD 132,255,000, an increase of about 17.3% from HKD 112,740,000 in 2023, with a gross margin of approximately 11.3%[14]. - The gross profit from the LED backlight and lighting services segment was approximately HKD 128,438,000, up about 16.6% from HKD 110,151,000 in the previous year[14]. - The gross margin for the LED backlight and lighting services segment decreased by about 1.2 percentage points to approximately 13.5%[14]. - The company reported a net profit of HKD 24,264 thousand, slightly down by 1.8% from HKD 24,715 thousand in the previous year[46]. - The company reported a net profit of HKD 23,967,000 for the six months ended June 30, 2024, slightly down from HKD 24,128,000 in the same period of 2023[80]. Expenses and Costs - Sales and distribution expenses for the six months ended June 30, 2024, were approximately HKD 22,176,000, an increase of about 32.2% compared to HKD 16,776,000 for the same period in 2023[15]. - Administrative expenses, including R&D, amounted to approximately HKD 98,281,000 for the six months ended June 30, 2024, up about 21.3% from HKD 81,020,000 in the first half of 2023[16]. - The company incurred research and development expenses of HKD 34,175 thousand, up from HKD 30,850 thousand in the previous year[45]. - Financial costs increased to HKD 32,027 thousand from HKD 17,610 thousand year-over-year, reflecting a rise in interest expenses[45]. - Total employee costs increased to HKD 170,859,000, up from HKD 130,220,000 year-over-year[78]. Assets and Liabilities - Non-current assets as of June 30, 2024, totaled HKD 454,620 thousand, an increase from HKD 419,283 thousand at the end of 2023[47]. - Current assets, including inventory and accounts receivable, increased to HKD 2,243,917 thousand from HKD 1,979,440 thousand at the end of 2023[47]. - The company's net asset value rose to HKD 892,881 thousand, compared to HKD 868,204 thousand at the end of 2023[48]. - The total liabilities increased to HKD 1,805,656 as of June 30, 2024, compared to HKD 1,530,519 as of December 31, 2023, marking an increase of approximately 17.9%[64]. - Total bank and other borrowings amounted to HKD 368,386,000 as of June 30, 2024, compared to HKD 271,400,000 as of December 31, 2023, with secured loans increasing significantly[96]. Shareholder Information and Corporate Governance - The company has a major shareholder, Ruishi Technology Co., Ltd., which holds approximately 58.31% of the issued share capital, equating to 128,120,000 shares[30]. - The board did not recommend any interim dividend for the six months ended June 30, 2024[22]. - The company has adopted a new share option plan effective from December 19, 2022, replacing the previous plan[31]. - The company is committed to attracting suitable personnel to further drive its development through the share option plan[31]. - The company has committed to maintaining good corporate governance, emphasizing transparency, accountability, and independence for all shareholders[42]. Cash Flow and Investments - The company reported a net cash inflow from operating activities of HKD 24,187 thousand for the six months ended June 30, 2024, compared to a net outflow of HKD 44,484 thousand in the same period of 2023[52]. - The company incurred a net cash outflow from investing activities of HKD 167,041 thousand for the six months ended June 30, 2024, compared to HKD 17,119 thousand in the same period of 2023[52]. - The company’s investment in financial assets at fair value through profit or loss amounted to HKD 7,809 thousand as of June 30, 2024[57]. - The company’s non-listed equity investments at fair value through other comprehensive income totaled HKD 16,264 thousand as of June 30, 2024[57]. Patents and R&D Commitment - The company holds 282 registered patents in China as of June 30, 2024, reflecting its commitment to research and development[11]. - The company continues to invest in product research and development to meet customer demands and maintain its reputation as a reliable market participant[6].
伟志控股(01305) - 2024 - 中期财报