Financial Performance - For the six months ended June 30, 2025, the company recorded a revenue decrease of approximately HKD 249.8 million, a significant decline of about 25.0% compared to HKD 332.9 million for the same period in 2024[9] - Gross profit fell by approximately 41.6% to about HKD 51.1 million, with a gross margin decrease of approximately 5.8 percentage points to about 20.5%[10] - The company reported a loss attributable to owners of approximately HKD 41.0 million, a shift from a profit of HKD 3.4 million in the same period last year[15] - The company reported a total comprehensive loss of HKD 40,276,000 for the period, compared to a minimal loss of HKD 39 in the previous year[46] - The company reported a net loss attributable to shareholders of HKD 40,978,000 for the six months ended June 30, 2025, compared to a profit of HKD 3,426,000 in the same period of 2024[79] Revenue Breakdown - Revenue from the sale of kitchenware and household products was HKD 216,115,000, down 31% from HKD 312,985,000 in the previous year[72] - Revenue from raw materials sales increased to HKD 33,723,000, up 69% from HKD 19,938,000 in the prior period[72] - Revenue from the United States decreased by 48% to HKD 94,925,000 from HKD 181,110,000 year-over-year[68] - Revenue from Asia increased by 14% to HKD 97,520,000 compared to HKD 85,766,000 in the previous year[68] Expenses and Costs - Distribution expenses decreased by approximately 6.2% to about HKD 18.4 million, attributed to a decline in marketing and transportation costs[12] - Administrative expenses increased by approximately 9.7% to about HKD 65.4 million, mainly due to depreciation and operational costs from the advanced manufacturing center in Tseung Kwan O[13] - The cost of goods sold for the period was HKD 190,812,000, down 18% from HKD 233,612,000 in the previous year[75] Cash Flow and Financing - The group recorded cash generated from operating activities of approximately HKD 51.2 million for the six months ended June 30, 2025, compared to cash used in operating activities of approximately HKD 24.5 million for the same period in 2024[23] - The net cash inflow from financing activities was approximately HKD 39.3 million for the six months ended June 30, 2025, a significant increase from a net cash outflow of approximately HKD 26.6 million for the same period in 2024[24] - Cash and cash equivalents at the end of the period increased to HKD 181,981,000 from HKD 110,170,000, reflecting a growth of 65.1%[55] Assets and Liabilities - As of June 30, 2025, total assets amounted to HKD 490,917,000, a slight decrease from HKD 497,619,000 as of December 31, 2024[48] - Current liabilities increased to HKD 210,848,000 from HKD 172,078,000, indicating a rise of approximately 22.6%[49] - The company’s total liabilities increased to HKD 229,347,000 as of June 30, 2025, compared to HKD 195,263,000 at the end of 2024[63] Shareholder Information - Major shareholder First Concord Limited holds 105,000,000 shares, representing 15% of the issued share capital[42] - City Concord Limited, fully owned by Dr. Huang, holds 420,000,000 shares, accounting for 60% of the issued share capital[42] - Dr. Huang and Ms. Zheng collectively control 525,000,000 shares, which is 75% of the total issued share capital[42] Corporate Governance - The group maintained a high level of corporate governance, with a board consisting of two executive directors and four independent non-executive directors[32] - The company has not established any arrangements that would allow directors or key executives to benefit from purchasing shares or bonds of the company or its affiliates[40] Future Plans - The company plans to launch a nano-enhanced product line in Q4 2025, following the successful commissioning of the nano production line in Q3 2024[16] - The company aims to strengthen its product line through innovative design and technology upgrades, focusing on growth opportunities in the Asia-Pacific market[16]
科劲国际(06822) - 2025 - 中期财报