Financial Performance - For the six months ended June 30, 2025, the company reported revenue of HKD 175,958,000, a decrease of 10.3% compared to HKD 196,396,000 for the same period in 2024[4] - Gross profit for the same period was HKD 70,746,000, down from HKD 73,790,000, reflecting a gross margin of 40.2%[4] - The company achieved a net profit of HKD 36,619,000, an increase of 6.0% from HKD 34,565,000 in the prior year[5] - Basic and diluted earnings per share for the period were HKD 0.074, compared to HKD 0.069 in the previous year, representing a 7.2% increase[4] - The group’s pre-tax profit for the six months ended June 30, 2025, was HKD 45,880,000, slightly down from HKD 46,301,000 in 2024[18] - The group reported a net profit of HKD 36,619,000 for the six months ended June 30, 2025, compared to HKD 34,565,000 in 2024, an increase of about 5.9%[21] Revenue Breakdown - Revenue from cement sales decreased to HKD 72,144,000 in 2025 from HKD 84,359,000 in 2024, representing a decline of approximately 14.4%[14] - The hotel operations segment reported revenue of HKD 30,758,000 in 2025, an increase from HKD 28,938,000 in 2024, marking a growth of approximately 6.3%[14] - The property investment segment generated revenue of HKD 14,417,000 from property management and related services in 2025, compared to HKD 16,268,000 in 2024, a decrease of about 11.4%[16] - The property investment business reported revenue of HKD 68,174,000, a decrease of approximately 9.2% from HKD 75,117,000 in the previous year[30] - The cement business generated revenue of HKD 72,144,000, down about 14.5% from HKD 84,359,000 year-on-year[30] - The hotel business achieved revenue of HKD 30,758,000, an increase of about 6.3% compared to HKD 28,938,000 last year[30] Assets and Liabilities - Total assets less current liabilities as of June 30, 2025, were HKD 2,536,938,000, slightly up from HKD 2,529,444,000 at the end of 2024[7] - The company reported a cash and bank balance of HKD 573,921,000, an increase from HKD 549,179,000 at the end of 2024[6] - Inventory levels rose to HKD 41,837,000 from HKD 38,566,000, indicating a 5.9% increase[6] - The company’s non-current assets totaled HKD 1,991,076,000, down from HKD 2,020,112,000, reflecting a decrease of 1.4%[6] - As of June 30, 2025, the net accounts receivable amounted to HKD 40,774,000, an increase from HKD 25,974,000 as of December 31, 2024[24] - The accounts payable totaled HKD 14,968,000 as of June 30, 2025, up from HKD 8,182,000 at the end of 2024[25] Costs and Expenses - The cost of goods sold for the six months ended June 30, 2025, was HKD 73,636,000, down from HKD 87,913,000 in 2024, a decrease of about 16.2%[18] - The total tax expense for the period was HKD 9,261,000 in 2025, compared to HKD 11,736,000 in 2024, indicating a reduction of approximately 21.1%[21] - The total employee cost for the six-month period ending June 30, 2025, was approximately HKD 26,115,000, with around 87% of the 840 employees located in Vietnam[46] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.02 per share, totaling approximately HKD 10,049,000, consistent with the previous year's dividend[23] - The board has declared an interim dividend of HKD 0.02 per share[40] Market Outlook and Risks - The company anticipates gradual improvement in the Vietnamese real estate market in the second half of 2025, which may benefit its cement operations[29] - The group faced foreign exchange risk due to the depreciation of the Vietnamese Dong against the Hong Kong Dollar, with a loss of HKD 1,358,000 during the period[43] Operational Highlights - In the first half of 2025, the cement business recorded a sales volume of approximately 194,000 tons, a decrease of about 8.9% compared to 213,000 tons in the same period last year[31] - The cement business reported a net loss of HKD 2,207,000, a reduction of approximately 52.7% from a net loss of HKD 4,663,000 in the same period last year[31] - The occupancy rate of the Saigon Trade Center in Ho Chi Minh City decreased to 70.1% as of June 30, 2025, down from 80.3% a year earlier[33] - The hotel business in Hong Kong contributed operating revenue of HKD 30,722,000, an increase of 6.2% compared to the same period last year[36] - The average daily room rate for the Hong Kong Tuen Mun Belt Hotel increased by 8.3% compared to the same period last year, achieving an occupancy rate of 89.7%[36] - The hotel business recorded a significant reduction in loss to HKD 452,000, down 89.6% from a loss of HKD 4,346,000 in the same period last year[36] - The "LE CARRÉ HUE" hotel project in Vietnam is expected to commence operations in the second half of 2025, with preparations ongoing[38] Governance and Compliance - The company has complied with the corporate governance code, except for the provision B.2.2 regarding the rotation of directors every three years[49] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and internal controls for the six-month period ending June 30, 2025[50] - The company has adopted a standard code for securities trading by directors, confirming compliance during the period ending June 30, 2025[51] - The interim report for the six-month period ending June 30, 2025, will be sent to shareholders and made available on the company's website and the Hong Kong Stock Exchange's website[52] Capital Expenditures - As of June 30, 2025, the group's capital commitments for property, plant, and equipment amounted to HKD 13,544,000, a decrease from HKD 14,263,000 as of December 31, 2024[44] Share Repurchase - The company repurchased shares on June 25, 2025, at a price of HKD 0.78 per share, totaling HKD 1,560.00 for 2,000 shares, which will be canceled[48]
陆氏集团(越南)(00366) - 2025 - 中期业绩