Financial Performance - For the six months ended June 30, 2023, the company reported revenue of HKD 421,535,000, a decrease of 22.5% compared to HKD 543,808,000 in the same period last year[14] - Gross profit for the same period was HKD 97,221,000, with a gross margin of approximately 23.1%, compared to HKD 86,808,000 and a margin of 16.0% in the previous year[14] - The company achieved a profit before tax of HKD 20,907,000, representing an increase of 78.5% from HKD 11,747,000 in the prior year[14] - Net profit for the period was HKD 17,457,000, up 18.4% from HKD 14,742,000 year-on-year[14] - Basic and diluted earnings per share increased to HKD 1.15 from HKD 1.05, reflecting a growth of 9.5%[27] - The total comprehensive income for the period was HKD 21,979,000, compared to HKD 29,288,000 in the previous year, indicating a decrease of 25.0%[28] - The company reported a mid-term profit attributable to shareholders of HKD 17,618,000, an increase of 9.66% compared to HKD 16,066,000 in the same period last year[110] - Total revenue for the first half of 2023 was HKD 454,197,000, representing a decrease of 20.31% from HKD 569,928,000 in the first half of 2022[111] - The revenue from interior design and renovation projects was HKD 234,790,000, down 28.97% from HKD 330,540,000 in the previous year[114] - Export business revenue decreased by 13.41%, from HKD 183,129,000 to HKD 158,568,000, primarily due to high inflation affecting consumer purchasing power in the US[114] Share Repurchase and Dividends - The company repurchased a total of 1,040,000 shares in June 2023 at an average price of HKD 0.75, totaling approximately HKD 772,000[8] - Subsequent to the reporting period, the company repurchased an additional 4,300,000 shares for a total consideration of approximately HKD 3,416,000[8] - The company paid dividends totaling HKD 61,119,000 during the period, compared to HKD 56,632,000 in the previous year[34] - The company declared an interim dividend of HKD 0.02 per share for the six months ended June 30, 2023, consistent with the previous year's interim dividend[67] Assets and Liabilities - The company's total assets as of June 30, 2023, were HKD 2,476,655,000, down from HKD 2,695,323,000 at the end of the previous year[29] - The total equity attributable to equity holders of the company was HKD 2,390,292,000, a decrease from HKD 2,429,613,000 year-on-year[30] - The company experienced a net cash outflow of HKD 110,261,000 during the period, compared to a cash inflow of HKD 285,407,000 in the same period last year[34] - Non-current liabilities increased to HKD 18,923,000 as of June 30, 2023, compared to HKD 15,176,000 as of December 31, 2022, representing a growth of 24.3%[49] - The total liabilities as of June 30, 2023, were HKD 18,923,000, which is an increase of 24.3% from the previous year, indicating a growing leverage position[49] Cash Flow and Investments - Cash generated from operating activities was HKD 36,793,000, a significant improvement from a cash outflow of HKD 32,033,000 in the prior year[34] - The company’s cash and cash equivalents at the end of the period stood at HKD 2,057,816,000, a slight decrease from HKD 2,059,071,000 at the end of the previous year[34] - The total fair value of equity investments recorded was HKD 213,048,000, consisting of HKD 206,020,000 in listed equity investments and HKD 7,028,000 in unlisted equity investments[127] - The company’s investment portfolio increased to a total net value of HKD 424,687,000 as of June 30, 2023, up from HKD 373,476,000 as of December 31, 2022, reflecting an increase of HKD 51,211,000[135] Economic Environment and Future Outlook - The company noted concerns regarding the economic environment, particularly high inflation and interest rates, which may impact business operations moving forward[86] - The company expects the overall economy to improve in the second half of the year, supported by potential new stimulus measures from the central government[137] - Management maintains a cautious investment approach due to uncertainties in the investment outlook, including high inflation and weak domestic consumption[132] Employee and Corporate Governance - The total number of employees as of June 30, 2023, was 470, a decrease from 490 as of December 31, 2022[150] - The company has complied with the corporate governance code as per the listing rules as of June 30, 2023[153]
旭日企业(00393) - 2023 - 中期财报