Financial Performance - Revenue for the six months ended June 30, 2024, was $65,821,000, an increase of 29% from $51,037,000 in the same period of 2023[4] - Gross profit for the same period was $6,100,000, up from $4,684,000, representing a 30.3% increase[4] - Operating profit surged to $28,618,000 compared to $704,000 in the previous year, indicating a significant growth[4] - Net profit attributable to the company's owners reached $27,717,000, a substantial increase from $300,000 in the prior period[4] - Basic and diluted earnings per share were both $7.64, compared to $0.08 in the same period last year[4] - Total revenue for the six months ended June 30, 2024, was $65,821,000, an increase from $51,037,000 for the same period in 2023, representing a growth of approximately 28.8%[13] - The company'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[28] - 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[34] - The graphite business generated revenue of approximately $21.6 million, a 44.2% increase from approximately $15.0 million in the same period last year[35] - The electronic manufacturing services business revenue was approximately $44.2 million, up about $8.3 million or 23.0% from approximately $35.9 million in the same period last year[35] Assets and Liabilities - Total assets as of June 30, 2024, amounted to $417,963,000, an increase from $390,380,000 at the end of 2023[7] - Total assets as of June 30, 2024, were approximately $438.3 million, up from approximately $409.3 million as of December 31, 2023[28] - The company’s total equity increased to $417,183,000 from $389,658,000, indicating a strong financial position[8] - Total liabilities as of June 30, 2024, included trade payables of $9,534,000, a decrease from $10,557,000 as of December 31, 2023[20] - The company recorded a net current asset of approximately $355.0 million as of June 30, 2024, compared to $352.5 million as of December 31, 2023[38] - The company had no bank borrowings as of June 30, 2024, and its debt remained stable without any significant adverse changes[39] - The company’s asset-to-equity ratio was 0.05% as of June 30, 2024, compared to 0.03% as of December 31, 2023[38] Cash Flow - Cash and cash equivalents decreased to $4,440,000 from $6,056,000, reflecting a cash outflow during the period[10] - The company reported a net cash outflow from operating activities of $1,180,000, an improvement from $6,342,000 in the previous year[10] Investments and Acquisitions - The company purchased property, plant, and equipment amounting to $243,000 during the six months ended June 30, 2024, down from $786,000 in the same period of 2023[17] - The company plans to operate its graphite product business in a "light asset" manner after selling its production line in Madagascar, which will not own any related fixed assets[30] - The company entered into an agreement to exchange two production lines and 390,000 tons of graphite ore for graphite products valued at $21,045,651, with a price locked at $699 per ton[30] - The company acquired 100% of GoMeta Limited to develop third-generation internet-related businesses, including non-fungible tokens and cryptocurrencies[31] - GoMeta will issue 10,000 ordinary shares to Qi Le Company for HKD 100,000, resulting in a 50%-50% joint venture ownership between the company and Qi Le Company[31] - The company anticipates recording a pre-tax profit of approximately $306,356 from the asset exchange transaction[30] - The company agreed to sell two production lines and 390,000 tons of graphite ore in Madagascar for $21.05 million, expected to be completed by December 31, 2024[40] Management and Governance - The total remuneration for key management personnel for the six months ended June 30, 2024, was $1,460,000, compared to $1,130,000 for the same period last year[25] - The company has complied with all corporate governance codes except for the separation of the roles of Chairman and CEO, which are held by the same individual[49] - The audit committee, consisting of three independent non-executive directors, has been established to oversee financial reporting and risk management[54] Employee and Dividend Information - As of June 30, 2024, the company employed 325 employees, a decrease from 344 in 2023[42] - 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 has not declared any interim dividend for the six months ending June 30, 2024, consistent with 2023[44] Other Information - Other income for the period was $2,331,000, slightly up from $2,315,000 year-over-year[4] - Trade receivables as of June 30, 2024, totaled $40,133,000, an increase from $34,819,000 as of December 31, 2023[19] - Other receivables and prepayments increased to $4,977,000 as of June 30, 2024, compared to $2,093,000 as of December 31, 2023[18] - The company reported a tax expense based on an estimated taxable profit from Hong Kong at a rate of 16.5% for the six months ended June 30, 2024[15] - There are no significant uncertainties that may cast doubt on the company's ability to continue as a going concern[46] - The company has installed solar panels at Axiom facilities to mitigate rising energy costs and is renegotiating with customers to pass on some cost increases while maintaining competitiveness[33] - The company plans to invest in the latest capital equipment and R&D activities to further increase production and expand its service portfolio[37] - The company aims to adjust its graphite business to a "light asset" model to reduce sales costs and is focusing on expanding the small graphite sheet market[36]
谊砾控股(00076) - 2024 - 中期财报