Financial Performance - The Group's revenue decreased by approximately 28.9% to approximately HK$108.5 million for the six months ended December 31, 2024, compared to the same period last year[13]. - Gross profit dropped by approximately 28.6% from approximately HK$46.1 million for the six months ended December 31, 2023, to approximately HK$32.9 million for the six months ended December 31, 2024[14]. - Net profit for the period decreased by approximately HK$2.9 million from approximately HK$5.7 million for the six months ended December 31, 2023, to approximately HK$2.8 million for the six months ended December 31, 2024[15]. - Basic earnings per share was approximately HK0.58 cents, compared to approximately HK1.18 cents for the corresponding period in 2023[16]. - The net profit margin decreased from approximately 3.7% for the six months ended December 31, 2023, to approximately 2.6% for the six months ended December 31, 2024[15]. - Profit before tax was HK$3.3 million, a decrease of 52.8% from HK$7.1 million in the previous year[91]. - Profit for the period decreased to HK$2,786,000 for the six months ended December 31, 2024, down from HK$5,660,000 in the same period of 2023, representing a decline of 50.8%[94]. - Total comprehensive loss attributable to owners of the company was HK$1,127,000 for the six months ended December 31, 2024, compared to a profit of HK$3,366,000 in the same period of 2023[94]. Revenue Breakdown - Revenue from packaging printing decreased by approximately 3.6% to approximately HK$40.8 million for the six months ended December 31, 2024[25]. - Revenue from paper gift set printing decreased by approximately 40.0% to approximately HK$57.3 million for the six months ended December 31, 2024[28]. - Revenue from card printing dropped approximately 49.6% to approximately HK$2.9 million for the six months ended December 31, 2024[29]. - Revenue from smart package printing decreased by approximately 31.9% to approximately HK$5.2 million for the six months ended December 31, 2024[30]. - Revenue from other printing increased by approximately 57.7% to approximately HK$2.3 million for the six months ended December 31, 2024[35]. - Revenue from Hong Kong decreased by 27% to HK$38,126,000 from HK$52,165,000 year-on-year[120]. - Revenue from Mainland China increased significantly by 120% to HK$14,455,000 from HK$6,571,000 year-on-year[120]. Cost and Expenses - Administrative expenses dropped from approximately HK$43.1 million for the six months ended December 31, 2023, to approximately HK$32.5 million for the six months ended December 31, 2024[43]. - Selling and distribution expenses slightly decreased from approximately HK$3.1 million to approximately HK$2.8 million, despite an expanded sales team[48]. - Other operating income dropped from approximately HK$4.2 million to approximately HK$1.5 million, mainly due to exchange gains from the appreciation of the US Dollar against Renminbi[49]. - Employee benefit expenses (excluding directors' remuneration) decreased to HK$31,918,000 from HK$36,481,000 year-on-year[134]. - Direct labor costs amounted to approximately HK$12.5 million for the six months ended December 31, 2024, down 20.3% from approximately HK$15.7 million in 2023[75]. Investments and Future Plans - The Group is investing in ESG Print Limited to explore markets related to Environmental, Social, and Governance (ESG) initiatives[9]. - The Group is also planning to build a new manufacturing hub in Indonesia to diversify its operations[9]. - The Group anticipates challenges in the interim period of 2024/2025 due to geopolitical tensions and concerns about a slowing global economy and high inflation[36]. - The Group is exploring opportunities to build a second manufacturing hub in Indonesia to attract new customers and lower costs[37]. Cash Flow and Assets - Cash and bank balances were approximately HK$291.4 million, with a current ratio of approximately 6.7 times[60]. - Cash generated from operations was negative at HK$6,962,000, compared to positive cash flow of HK$26,358,000 in the prior year, indicating a significant decrease in operational cash flow[103]. - Net cash flows used in operating activities amounted to HK$11,357,000, slightly improved from HK$13,473,000 in the previous year[104]. - Total non-current assets decreased to HK$242,811,000 as of December 31, 2024, down from HK$258,780,000 as of June 30, 2024, reflecting a reduction of 6.1%[96]. - Current assets slightly decreased to HK$372,617,000 as of December 31, 2024, compared to HK$373,656,000 as of June 30, 2024, a decrease of 0.3%[96]. Shareholder Information - The Company has a significant concentration of ownership among its directors and executives, with each holding substantial shares[194]. - The interests of the directors and executives in the Company are disclosed in accordance with the Listing Rules[186]. - The total issued share capital of the Company is significant, with major shareholders holding a combined 75.0%[200]. - The Company continues to monitor and disclose any changes in shareholding interests as required by regulatory standards[196].
新兴印刷(01975) - 2025 - 中期业绩