Financial Performance - For the six months ended June 30, 2025, the company's revenue was approximately HKD 362,200,000, a decrease of about 5.9% compared to the same period in 2024[8]. - The gross profit for the first half of 2025 was approximately HKD 95,400,000, with an average gross margin of 26.3%, down from 28.0% in the same period of 2024[9]. - Net profit attributable to the company's owners decreased by approximately 29.1% to about HKD 30,400,000 for the six months ended June 30, 2025, compared to HKD 42,900,000 in the same period of 2024[15]. - The profit before tax decreased to HKD 35,098,000, representing a decline of 35.0% from HKD 53,908,000 in the previous year[48]. - Net profit for the period was HKD 30,405,000, a decrease of 29.0% compared to HKD 42,906,000 in the prior year[48]. - Basic and diluted earnings per share were HKD 2.44, down from HKD 3.43 in the same period last year, reflecting a decline of 29.0%[49]. - The company reported a profit of HKD 30,443,000 for the six months ended June 30, 2025, a decrease of 29% compared to HKD 42,906,000 for the same period in 2024[73]. Revenue Breakdown - Revenue from customer B grew steadily by about 1.7% to approximately HKD 126,000,000, while total revenue from Europe and Canada increased by about 7.9% to approximately HKD 137,400,000[6]. - Revenue from the United States was HKD 223,409,000, down 10.7% from HKD 250,169,000 in 2024[60]. - Customer A contributed HKD 218,818,000 to revenue, a decrease of 11.3% from HKD 246,654,000 in 2024[62]. - Customer B's revenue contribution was HKD 125,969,000, an increase of 1.8% from HKD 123,876,000 in 2024[62]. Expenses and Costs - The company's administrative expenses for the six months ended June 30, 2025, were approximately HKD 40,400,000, an increase of about HKD 3,400,000 compared to the same period in 2024[13]. - Sales and distribution expenses increased by 7% to approximately HKD 21,100,000 for the six months ended June 30, 2025, primarily due to increased transportation costs[12]. - Total employee costs increased to HKD 62,494,000 in 2025 from HKD 54,735,000 in 2024, reflecting a rise of 14%[70]. Assets and Liabilities - As of June 30, 2025, the group's current assets were approximately HKD 891.1 million, an increase from HKD 843.2 million as of December 31, 2024, while current liabilities rose to approximately HKD 292 million from HKD 199.1 million[20]. - The current ratio decreased to approximately 3.05 as of June 30, 2025, compared to 4.24 as of December 31, 2024[20]. - The company's net asset value decreased to HKD 796,705,000 from HKD 829,677,000, a decline of 4.0%[51]. - Trade receivables decreased to HKD 37,263,000 as of June 30, 2025, down from HKD 42,572,000 at the end of 2024, a decline of 12%[75]. - Trade payables increased to HKD 88,159,000 as of June 30, 2025, compared to HKD 80,485,000 at the end of 2024, an increase of 10%[76]. Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2025, was HKD 17,443,000, compared to a net cash outflow of HKD 2,701,000 for the same period in 2024[53]. - The net cash used in investing activities was HKD 11,844,000 for the six months ended June 30, 2025, compared to HKD 1,937,000 in 2024[53]. - The company's cash and cash equivalents increased to HKD 451,829,000 as of June 30, 2025, up from HKD 349,710,000 in 2024[53]. Shareholder Information - As of June 30, 2025, Mr. Tan Guopei and Mrs. Yang Shuhuan collectively hold 838,076,505 shares, representing 67.1% of the company's issued share capital[29]. - Strategic King Holdings Limited, controlled by Mr. Tan (90% ownership) and Mrs. Yang (10% ownership), is considered to have a beneficial ownership of 838,076,505 shares, equating to 67.1%[33]. - The company adopted a new share option plan on June 8, 2023, allowing for the issuance of up to 125,000,000 shares, which is 10% of the company's issued share capital as of the report date[35]. - No share buybacks, sales, or redemptions occurred during the six-month period ending June 30, 2025[36]. - The company did not recommend any interim dividend for the six-month period ending June 30, 2025, consistent with the previous year[42]. Governance and Management - The group has established various committees, including the Audit Committee, Compensation Committee, and Nomination Committee, to enhance governance and oversight[45][46][47]. - The company has not engaged in any significant acquisitions or disposals during the six-month period ending June 30, 2025[26]. Future Plans and Developments - The company continues to expand its production bases, with new facilities in Cambodia and ongoing construction in Vietnam and Kenya[6]. - The group is constructing a garment production base in Vietnam with an estimated monthly capacity of about 2,000,000 pieces, expected to begin trial production in 2026[18]. - The group plans to establish a garment production base in Kenya, aiming to diversify production bases and reduce costs, with initial trial production targeted for the first half of 2026[18]. - The group anticipates an increase in procurement orders from European customers as part of its strategy to diversify its customer base and geographic distribution[19].
捷隆控股(01425) - 2025 - 中期财报