Financial Performance - The Group recorded a profit of approximately HK$723,000 for the six months ended June 30, 2025, compared to a loss of approximately HK$2,956,000 for the same period in 2024, marking a significant turnaround[8]. - Revenue increased by approximately 14.4%, from approximately HK$60.2 million for the six months ended June 30, 2024, to approximately HK$68.9 million for the six months ended June 30, 2025, driven by increased sales orders for low-voltage electrical power distribution and control devices[15]. - Gross profit increased from approximately HK$12.6 million during the six months ended June 30, 2024, to approximately HK$18.2 million during the six months ended June 30, 2025, reflecting higher revenue and effective cost management[17]. - Profit before taxation improved to HK$1,408,000, a significant turnaround from a loss of HK$2,773,000 in the previous year[107]. - Total comprehensive income for the period was HK$2,793,000, compared to a total comprehensive loss of HK$4,489,000 in 2024[107]. - Basic earnings per share for the period were HK$0.04, compared to a loss per share of HK$0.16 in 2024[107]. Revenue and Sales - Revenue for the six months ended June 30, 2025, increased to HK$68,857,000, up 14.0% from HK$60,210,000 in 2024[107]. - Revenue from Hong Kong increased to HK$66,419,000 in 2025, up 16.5% from HK$57,009,000 in 2024[134]. - The low-voltage switchboard segment generated HK$34,091,000 in revenue, a significant increase of 52.5% compared to HK$22,363,000 in 2024[129]. Costs and Expenses - Cost of sales amounted to approximately HK$50.7 million for the six months ended June 30, 2025, representing an increase of approximately 6.5% from approximately HK$47.6 million for the same period in 2024[16]. - Administrative and other expenses increased by approximately HK$1.3 million, or approximately 9.1%, from approximately HK$14.4 million for the six months ended 30 June 2024 to approximately HK$15.8 million for the six months ended 30 June 2025[25][29]. - Selling and distribution expenses remained stable at approximately HK$1.9 million for both the six months ended June 30, 2025, and June 30, 2024, as the Group continued to implement cost-saving measures[19]. Cash Flow and Financial Position - The Group's cash and cash equivalents increased to approximately HK$72.7 million as of 30 June 2025, up from approximately HK$63.8 million as of 31 December 2024[33][39]. - Working capital as of 30 June 2025 was approximately HK$140.4 million, compared to approximately HK$135.5 million as of 31 December 2024[34]. - Total equity attributable to owners of the Group was approximately HK$170.1 million as of 30 June 2025, compared to approximately HK$167.3 million as of 31 December 2024[34]. - Net cash generated from operating activities increased to HK$9,458,000 in the six months ended June 30, 2025, compared to HK$7,175,000 in the same period of 2024, representing a growth of 32%[112]. - The net increase in cash and cash equivalents for the period was HK$8,453,000, up from HK$3,760,000 in the previous year, indicating a growth of 125%[112]. Investments and Capital Expenditures - The net proceeds from the listing were approximately HK$75.0 million, which is HK$14.7 million less than the estimated net proceeds of HK$89.7 million disclosed in the Prospectus[60]. - The total utilized net proceeds as of June 30, 2025, amounted to HK$66.4 million, with HK$8.6 million remaining unutilized[63]. - The acquisition of a factory in Mainland China accounted for HK$37.4 million of the utilized proceeds[63]. - For the six months ended June 30, 2025, the Group acquired property, plant, and equipment at a cost of approximately HK$318,000, a decrease of 88.9% compared to HK$2,873,000 for the same period in 2024[153][156]. Employment and Staff Costs - The Group had 219 full-time employees as of June 30, 2025, with total staff costs for the period amounting to approximately HK$17.0 million, down from approximately HK$18.6 million for the same period in 2024[55]. - As of June 30, 2025, the Group had 219 full-time employees, a slight decrease from 221 as of December 31, 2024[59]. - Total employee costs for the six months ended June 30, 2025, amounted to approximately HK$17.0 million, down from HK$18.6 million for the same period in 2024[59]. Corporate Governance and Shareholding - The Company has complied with all applicable code provisions of the Corporate Governance Code throughout the six months ended June 30, 2025[69]. - As of June 30, 2025, Mr. KW Leung and Mr. MK Wan each hold 540,000,000 shares, representing approximately 30% of the issued share capital[75]. - The board of directors of WAN Union currently includes Mr. MK Wan, Ms. Wun Tsz Ying, Mr. Wan Chak Ming, Ms. Wan Po Kwan, and a third party[78]. - The interests of the substantial shareholders are recorded in the register as required under section 336 of the SFO[85]. - The total number of shares held by Unique Best and its associated entities is 540,000,000, indicating a significant concentration of ownership[88]. Market Conditions and Strategic Outlook - The construction markets in Hong Kong, Macau, and Mainland China faced uncertainty due to skilled labor shortages and global supply chain disruptions, impacting project delivery timelines and operational costs[9]. - The Hong Kong government introduced labor importation schemes and launched large-scale infrastructure projects to stimulate economic growth and increase demand in the construction and engineering industries[10]. - The Group aims to strengthen its market presence and generate sustainable long-term growth through diversification and strategic expansion into new sectors[12]. - Global business conditions remain volatile, with slowing economic growth and geopolitical tensions challenging investor confidence and short-term expectations[11].
全达电器集团控股(01750) - 2025 - 中期财报