Financial Performance - Revenue for the six months ended December 31, 2022, was HK$471.9 million, a decrease of 34% compared to HK$713.7 million in the same period of 2021[11]. - Gross profit for the period was HK$88.97 million, down from HK$128.06 million, resulting in a gross profit margin of 18.9%, an increase of 1.0 percentage points from 17.9%[11]. - The company reported a loss for the period of HK$17.71 million, compared to a profit of HK$4.41 million in the previous year, representing a decline of HK$22.11 million[11]. - The Group's revenue decreased by 34% to HK$471.9 million for the Period from HK$713.6 million for the six months ended 31 December 2021[21][25]. - Gross profit decreased to HK$89.0 million for the Period from HK$128.1 million in the last corresponding period, while the gross profit margin increased from 17.9% to 18.9%[22][26]. - The Group recorded a net loss of HK$17.7 million for the Period, compared to a net profit of HK$4.4 million in the corresponding period last year[31][35]. - Total comprehensive income for the period was HK$(22,717,000), a significant decline from HK$332,000 in the prior year[75]. - The Group reported a loss attributable to equity shareholders of $(23,847,000) for the six months ended December 31, 2022, compared to a profit of $450,000 in the same period of 2021[123]. Expenses and Costs - Selling and distribution expenses amounted to HK$15.1 million for the Period, down from HK$18.8 million for the six months ended 31 December 2021[24][28]. - General and administrative expenses decreased to HK$96.8 million for the Period from HK$111.8 million for the six months ended 31 December 2021[29][33]. - Finance costs increased from HK$3 million for the six months ended 31 December 2021 to HK$4.4 million for the Period, primarily due to rising interest rates[30][34]. - The Group's finance costs increased to $4,408,000 for the six months ended December 31, 2022, up from $3,042,000 in 2021, representing a rise of approximately 45%[115]. Cash Flow and Liquidity - Cash and cash equivalents decreased to HK$114.06 million from HK$136.49 million, a decline of HK$22.42 million[11]. - The cash conversion cycle days increased from 16 days to 23 days, driven by higher inventory and receivable days[37][39]. - Net cash generated from operating activities increased to $30,851,000 for the six months ended December 31, 2022, compared to $20,028,000 in the same period of 2021, representing a growth of 53.9%[91]. - Net cash used in investing activities was $(15,317,000) for the six months ended December 31, 2022, slightly improved from $(15,629,000) in the prior year[91]. - Net cash used in financing activities was $(37,472,000) for the six months ended December 31, 2022, a decrease from a net cash generated of $7,587,000 in the same period of 2021[91]. Assets and Liabilities - Total equity decreased to HK$485.38 million from HK$507.33 million, a decline of HK$21.95 million[11]. - Total debt was reduced to HK$88.57 million from HK$115.40 million, a decrease of HK$26.84 million[11]. - Non-current assets increased to HK$404,755,000 as of December 31, 2022, compared to HK$405,473,000 at June 30, 2022[79]. - Current assets decreased to HK$413,711,000 from HK$492,952,000, reflecting a decline in trade receivables and cash[79]. - As of December 31, 2022, non-current liabilities increased to $62,126,000 from $54,415,000 as of June 30, 2022, representing a 14.5% increase[81]. - Net assets decreased to $485,377,000 as of December 31, 2022, down from $507,328,000 as of June 30, 2022, reflecting a decline of 4.3%[81]. Investments and Capital Expenditure - Capital expenditure during the Period amounted to HK$28.4 million, primarily for establishing foam cup factories in Sri Lanka and expanding capacity in Indonesia[40][42]. - The company has increased its investment in an Indonesian company producing women's underwear by HK$12.9 million, with HK$7.5 million utilized[50]. - The Group acquired property, plant, and equipment at a cost of $28,427,000 during the six months ended December 31, 2022, compared to $13,811,000 in the same period of 2021, indicating an increase of approximately 106%[126]. Market and Sales Performance - Sales to the U.S. market accounted for 54% of total sales, while the EU represented 25% and the rest of the world 21%[17]. - The company anticipates a significant impact on financial performance in the second half of the fiscal year due to high inflation and reduced consumer confidence[65]. - The company remains optimistic about long-term business prospects despite current macroeconomic challenges[65]. Shareholder Information - As of December 31, 2022, Mr. Wong Chung Chong holds 89,952,724 shares, representing 29.88% of the issued share capital of the Company[188]. - Mr. Herman Van de Velde has an interest in 77,258,590 shares, accounting for 25.66% of the issued share capital[188]. - The total number of shares beneficially owned by Mr. Wong Chung Chong and his associates amounts to 89,952,724 shares, which is 29.88% of the issued share capital[192]. - The Company has no other interests or short positions in shares, underlying shares, or debentures by Directors or chief executives as of December 31, 2022[193].
黛丽斯国际(00333) - 2023 - 中期财报