恒都集团(00725) - 2025 - 中期业绩

Interim Results Condensed Consolidated Income Statement For the six months ended June 30, 2025, the company achieved significant revenue growth, leading to substantial increases in gross profit and operating profit, ultimately doubling profit attributable to owners of the company year-on-year Key Data from Condensed Consolidated Income Statement (For the six months ended June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 221,708 | 161,393 | +37.4% | | Cost of Sales | (157,437) | (117,992) | +33.4% | | Gross Profit | 64,271 | 43,401 | +48.1% | | Operating Profit | 21,682 | 8,570 | +153.0% | | Profit Before Tax | 21,682 | 8,564 | +153.2% | | Profit for the Period Attributable to Owners of the Company | 17,691 | 7,800 | +126.8% | | Basic and Diluted Earnings Per Share (HK cents) | 8.9 | 3.9 | +128.2% | Condensed Consolidated Statement of Comprehensive Income Total comprehensive income for the period significantly increased due to a shift from loss to gain in exchange differences on translation of foreign operations, boosting total comprehensive income attributable to owners of the company Key Data from Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Y-o-Y Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Profit for the Period | 17,691 | 7,800 | +9,891 | | Exchange Differences on Translation of Financial Statements of Foreign Operations | 3,673 | (4,581) | +8,254 | | Total Comprehensive Income for the Period Attributable to Owners of the Company | 21,364 | 3,219 | +18,145 | Condensed Consolidated Statement of Financial Position As of June 30, 2025, the company's total assets and total equity both increased, with current assets rising while the liability structure remained stable Key Data from Condensed Consolidated Statement of Financial Position (As of June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Total Assets | 514,900 | 495,982 | +18,918 | | Non-current Assets | 210,313 | 218,479 | -8,166 | | Current Assets | 304,587 | 277,503 | +27,084 | | Total Equity | 447,045 | 431,650 | +15,395 | | Total Liabilities | 67,855 | 64,332 | +3,523 | | Current Liabilities | 59,746 | 56,226 | +3,520 | Condensed Consolidated Statement of Changes in Equity As of June 30, 2025, the company's total equity changed due to an increase in total comprehensive income for the period and dividend payments, with other reserves shifting from loss to gain due to exchange differences Key Data from Condensed Consolidated Statement of Changes in Equity (As of June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Total Equity at January 1 | 431,650 | 409,524 | | Total Comprehensive Income for the Period | 21,364 | 3,219 | | Dividends Paid | (5,969) | – | | Total Equity at June 30 | 447,045 | 412,796 | Condensed Consolidated Cash Flow Statement For the six months ended June 30, 2025, net cash used in operating activities, net cash generated from investing activities, and net cash used in financing activities resulted in a net decrease in cash and cash equivalents Key Data from Condensed Consolidated Cash Flow Statement (For the six months ended June 30) | Metric | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Net Cash (Used in) Generated from Operating Activities | (11,215) | 20,185 | | Net Cash Generated from (Used in) Investing Activities | 6,627 | (7,197) | | Net Cash Used in Financing Activities | (6,055) | (225) | | Net (Decrease) Increase in Cash and Cash Equivalents | (10,643) | 12,763 | | Cash and Cash Equivalents at June 30 | 42,785 | 51,443 | Notes to Unaudited Interim Condensed Consolidated Financial Information This section provides essential context for understanding the interim financial report, detailing its preparation basis, accounting policies, estimates, and specific financial item disclosures General Information The company is an investment holding company primarily engaged in the manufacturing and trading of wire and cable products, incorporated in Bermuda - The Group is principally engaged in the manufacturing and trading of wire and cable products[11] Basis of Preparation The unaudited interim condensed consolidated financial information is prepared in accordance with Hong Kong Accounting Standard 34 'Interim Financial Reporting' issued by the Hong Kong Institute of Certified Public Accountants - The financial information is prepared in accordance with Hong Kong Accounting Standard 34 'Interim Financial Reporting'[12] Accounting Policies The accounting policies adopted are consistent with the 2024 annual consolidated financial statements, with new/revised Hong Kong Financial Reporting Standards applied for the first time, but not expected to have a significant impact - Accounting policies are consistent with the 2024 annual consolidated financial statements, with the first-time application of HKAS 21 and HKFRS 1 (Amendments) 'Lack of Exchangeability,' which are not expected to have a significant impact[13][15] - The company has not early adopted new/revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, and their future adoption is not expected to impact operating results or financial position[16][19] Estimates The preparation of interim financial information involves management's judgments, estimates, and assumptions, consistent with those used in the 2024 annual consolidated financial statements, with carrying amounts of financial assets and liabilities approximating their fair values - Significant management judgments and sources of estimation uncertainty in preparing the interim financial information are consistent with those in the 2024 annual consolidated financial statements[17] - The carrying amounts of financial assets and liabilities approximate their fair values due to their short-term maturity[18] Revenue The Group is primarily engaged in manufacturing and trading wire and cable products, with revenue of HK$221,708 thousand for the six months ended June 30, 2025, a year-on-year increase of 37.4%, with the Americas segment contributing the majority of revenue and two major customers accounting for over 10% of total revenue Revenue and Segment Results (For the six months ended June 30) | Segment | 2025 Revenue (HK$ thousand) | 2024 Revenue (HK$ thousand) | 2025 Segment Results (HK$ thousand) | 2024 Segment Results (HK$ thousand) | | :--- | :--- | :--- | :--- | :--- | | Hong Kong | 11,631 | 14,641 | 3,545 | 1,319 | | China (excluding Hong Kong) | 17,965 | 21,779 | (3,564) | 2,172 | | Americas | 174,528 | 113,532 | 20,163 | 5,290 | | Vietnam | 9,877 | 95 | 1,706 | 10 | | Japan | 7,224 | 9,746 | 1,248 | 1,146 | | Other Countries | 483 | 1,600 | 83 | 198 | | Total | 221,708 | 161,393 | 23,181 | 10,135 | Major Customer Revenue Contribution (For the six months ended June 30) | Customer | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Customer A | 114,714 | 60,3