Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 12,593,839 thousand, a decrease of 7.7% compared to HKD 13,639,486 thousand in 2024[4] - Profit attributable to owners of the company for the same period was HKD 263,523 thousand, down 20.2% from HKD 330,288 thousand in 2024[4] - Basic earnings per share decreased to HKD 42.11, a decline of 20.2% from HKD 52.78 in the previous year[4] - Gross profit for the six months was HKD 579,120 thousand, compared to HKD 804,243 thousand in 2024, reflecting a significant decrease[6] - Total comprehensive income for the period was HKD 368,916 thousand, down from HKD 442,720 thousand in 2024[7] - Customer contract revenue for the six months ended June 30, 2025, was HKD 12,584,609, a decrease of 7.7% from HKD 13,630,638 in 2024[14] - Total revenue for the six months ended June 30, 2025, was HKD 12,593,839, down from HKD 13,639,486 in 2024, reflecting a decline of 7.7%[16] - Revenue from the sale of electronic components and semiconductors was HKD 12,529,065 for the six months ended June 30, 2025, compared to HKD 13,569,461 in 2024, a decrease of 7.7%[14] - The company reported basic earnings per share of HKD 0.42 for the six months ended June 30, 2025, down from HKD 0.53 in 2024[21] - The company's gross profit was HKD 579,120,000, down 28% from HKD 804,243,000 year-on-year, resulting in a gross margin of 4.6% compared to 5.9% in the previous year[33] - The net profit attributable to shareholders for the same period was HKD 263,523,000, a decrease of 20.2% from HKD 330,288,000 in the prior year[33] Dividends and Shareholder Returns - The company maintained an interim dividend of HKD 15.00 per share, unchanged from the previous year[4] - The company plans to distribute an interim dividend of HKD 0.15 per share, consistent with the previous year[26] Assets and Liabilities - Current assets increased to HKD 9,317,950 thousand from HKD 9,154,134 thousand at the end of 2024, indicating improved liquidity[8] - Cash and cash equivalents rose significantly to HKD 4,507,011 thousand from HKD 2,927,070 thousand, showing a strong cash position[8] - Total liabilities decreased slightly to HKD 7,099,921 thousand from HKD 7,154,103 thousand, indicating better financial management[9] - Net assets increased to HKD 3,296,331 thousand from HKD 3,083,874 thousand, reflecting growth in shareholder equity[9] - As of June 30, 2025, the company maintained a current ratio of 131%, up from 128% at the end of 2024, and reported a net cash position of HKD 1,940,546,000, significantly higher than HKD 736,368,000 at the end of 2024[34] Cash Flow and Management - The company recorded a significant operating cash inflow of HKD 1,355,057,000 for the six months ended June 30, 2025, compared to an outflow of HKD 898,414,000 in the same period last year[34] - The company is focusing on cash flow management and capital expenditure in light of ongoing challenges from trade tensions and high interest rates[32] Customer and Revenue Concentration - The major customer, Customer A, contributed HKD 6,894,988 in revenue for the six months ended June 30, 2025, up from HKD 6,684,525 in 2024, representing an increase of 3.1%[17] - The five largest customers accounted for 66.2% of total revenue during the review period, up from 63.3% as of December 31, 2024[23] Employee and Operational Costs - The company incurred total employee costs of HKD 85,450 for the six months ended June 30, 2025, compared to HKD 88,557 in 2024, reflecting a decrease of 3.5%[19] - The company’s trade receivables aging analysis showed that HKD 585,109 was not overdue as of June 30, 2025, compared to HKD 943,715 in 2024[23] Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules, with no significant deviations noted for the six months ending June 30, 2025[40] - The audit committee has reviewed the accounting principles, internal controls, and risk management for the unaudited interim financial statements for the six months ending June 30, 2025[41] - All directors have complied with the standard code of conduct for securities trading during the six months ending June 30, 2025[42] Future Outlook and Strategy - The company aims to enhance its competitive position in the Greater China region through economies of scale and strong financial backing[32] - The company has employed approximately 500 staff in the Greater China region, ensuring competitive compensation and benefits[38] - The company plans to issue the interim report to shareholders and publish it on the Hong Kong Stock Exchange and its own website at an appropriate time[43] - The chairman expressed gratitude to all employees for their contributions during challenging times, as well as to shareholders, customers, suppliers, and business partners for their ongoing support[44]
S.A.S. DRAGON(01184) - 2025 - 中期业绩