Financial Performance - Revenue for the six months ended June 30, 2022, was $52,918,000, a decrease of 2.4% from $54,324,000 in the same period of 2021[5] - Gross profit for the same period was $10,779,000, down 16.4% from $12,901,000 year-on-year[5] - Net profit for the six months ended June 30, 2022, was $3,546,000, a decrease of 7.1% compared to $3,815,000 in the previous year[6] - Operating profit for the six months ended June 30, 2022, was $4,941,000, compared to $5,303,000 for the same period in 2021, reflecting a decrease of approximately 6.8%[16] - The net profit for the six months ended June 30, 2022, was $3,546,000, down from $3,815,000 in the same period of 2021, representing a decline of about 7.0%[19] - The group’s total assets decreased slightly, with net assets at approximately $386.2 million as of June 30, 2022, down from approximately $387.9 million as of December 31, 2021[34] Cash Flow and Assets - Operating cash flow for the six months was $7,497,000, an increase of 6.3% from $7,051,000 in the same period of 2021[10] - Cash and cash equivalents at the end of the period were $18,499,000, slightly up from $18,380,000 at the beginning of the period[10] - Total assets as of June 30, 2022, were $414,926,000, compared to $414,858,000 as of December 31, 2021[8] - The net current assets as of June 30, 2022, were approximately $348,700,000, compared to $351,000,000 on December 31, 2021[42] - As of June 30, 2022, the group's cash and bank balances were approximately $18,500,000, slightly up from $18,400,000 on December 31, 2021[42] Liabilities and Equity - The company’s total liabilities increased to $28,307,000 from $19,366,000 year-on-year[8] - The net assets attributable to equity holders decreased to $386,205,000 from $387,870,000 as of December 31, 2021[8] - Total liabilities for other payables and accrued expenses increased to $14,265,000 in 2022 from $7,226,000 in 2021, indicating a significant rise in financial obligations[25] - The company has no bank borrowings or significant debts as of June 30, 2022, with a debt-to-equity ratio of 0.1%[44] Revenue Breakdown - Revenue from external customers for graphite products was $16,001,000, for electronic products was $36,804,000, and for design and manufacturing was $113,000, totaling $52,918,000 for the six months ended June 30, 2022[14] - The group's graphite business generated revenue of approximately $16 million, an increase of 1.9% compared to approximately $15.7 million for the same period last year[37] - The electronic manufacturing services business revenue was approximately $36.8 million, a decrease of about $900,000 or 2.5% compared to approximately $37.7 million for the same period last year[37] Operational Insights - The company purchased property, plant, and equipment amounting to $3,508,000 during the six months ended June 30, 2022, significantly higher than $710,000 in the same period of 2021[20] - The company reported a foreign exchange loss of $5,211,000 for the period, compared to a gain of $509,000 in the previous year[6] - The company noted a recovery in demand for graphite products due to the gradual economic recovery from the COVID-19 pandemic[39] - The company continues to expand its graphite production capacity in Madagascar, which is expected to lead to higher production capacity[40] - The company has not halted any business operations due to the COVID-19 pandemic, although it is taking precautionary measures in response to potential declines in customer demand in the graphite market[40] Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[26] - The weighted average number of ordinary shares issued remained unchanged at 7,006,631,478 shares for both 2022 and 2021, resulting in basic and diluted earnings per share of $0.000506[19] - The company has not declared any interim dividends for the six months ending June 30, 2022[53] Governance and Compliance - The company has established an audit committee to review and monitor the financial reporting process, risk management, and internal control systems as per listing rules[64] - The audit committee consists of three independent non-executive directors, ensuring compliance with the corporate governance code[65] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the six months ending June 30, 2022[60]
谊砾控股(00076) - 2022 - 中期财报