Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 1,625,005 thousand, an increase from HKD 1,230,004 thousand in the same period of 2021, representing a growth of 32%[29]. - Gross profit for the same period was HKD 632,565 thousand, compared to HKD 506,774 thousand in 2021, reflecting a gross margin improvement[29]. - Operating profit for the six months was HKD 46,230 thousand, a significant recovery from an operating loss of HKD 2,366 thousand in the prior year[29]. - The company reported a loss attributable to equity shareholders of HKD 14,649 thousand, an improvement from a loss of HKD 31,035 thousand in the previous year[29]. - Basic and diluted loss per share for the period was HKD 0.07, compared to HKD 0.12 in the same period of 2021[29]. - Total comprehensive loss for the period was HKD 63,123 thousand, compared to a loss of HKD 47,270 thousand in the prior year[29]. - The company incurred financing costs of HKD 26,971 thousand, up from HKD 15,873 thousand in the previous year[29]. - Other income for the period was HKD 12,206 thousand, compared to HKD 1,626 thousand in the same period of 2021, indicating a significant increase[29]. - The company experienced a foreign exchange loss of HKD 44,909 thousand during the period, compared to a loss of HKD 10,695 thousand in the previous year[29]. - The company reported a pre-tax profit of HKD 19,923 thousand for the six months ended June 30, 2022, compared to a loss of HKD 17,442 thousand in the same period of 2021, indicating a turnaround in performance[38]. - The company recorded a comprehensive loss of HKD 67,768 thousand for the period, compared to a loss of HKD 49,826 thousand in the prior year, indicating a worsening in overall financial performance[35]. Assets and Liabilities - As of June 30, 2022, total assets amounted to HKD 1,609,687 thousand, an increase from HKD 1,430,878 thousand as of December 31, 2021, representing a growth of approximately 12.5%[32]. - Non-current assets increased significantly, with intangible assets rising to HKD 759,937 thousand from HKD 400,754 thousand, marking an increase of 89.5%[32]. - Inventory increased to HKD 823,566 thousand from HKD 531,189 thousand, reflecting a rise of 55%[32]. - The total equity attributable to equity shareholders decreased to HKD 958,621 thousand from HKD 1,025,942 thousand, a decline of approximately 6.5%[35]. - The company's total liabilities increased to HKD 1,117,797 thousand from HKD 890,961 thousand, reflecting a rise of approximately 25.4%[32]. - The company reported cash and cash equivalents at the end of the period were HKD 302,032 thousand, up from HKD 216,189 thousand, representing an increase of 39.7%[38]. - The company experienced a net cash outflow from operating activities of HKD 121,586 thousand, compared to an outflow of HKD 47,783 thousand in the previous year[38]. - The financing activities generated a net cash inflow of HKD 86,790 thousand, contrasting with a net cash outflow of HKD 65,013 thousand in the same period last year[38]. Segment Performance - The EBITDA for the reporting segments was HKD 149,754 thousand, compared to HKD 106,639 thousand in the previous year, reflecting an increase of about 40.4%[43]. - The reported profit before tax for the apparel segment was HKD 66,451 thousand, significantly up from HKD 10,301 thousand in the prior year, indicating a growth of approximately 545.0%[43]. - The brand business reported a loss before tax of HKD 44,788 thousand, which is a deterioration from a loss of HKD 19,951 thousand in the same period last year[43]. - Revenue from the clothing segment accounted for over 10% of total revenue, specifically 13% for the six months ended June 30, 2022, compared to 14% in 2021[49]. - Revenue from brand business reached HKD 836 million, up from HKD 648 million in 2021, with C.P. Company showing strong growth and Reebok contributing in Q2[96]. - Revenue from garment business was HKD 789 million, an increase of 35% from HKD 582 million in 2021, with high-end manufacturing accounting for 77% of segment revenue[96]. Strategic Initiatives - The company is focusing on market expansion and new product development to drive future growth[29]. - The company plans to expand the C.P. Company product line and enhance market positioning, focusing on wholesale markets in the UK, Italy, France, and Germany[107]. - Nautica brand will increase retail presence and expand the successful White Sail series, with plans to enhance e-commerce efforts on platforms like Douyin[109]. - The company expects a stronger sales contribution in the second half of the year due to seasonal demand for autumn/winter apparel[97]. - The company anticipates continued profit contributions from its own brand C.P. Company and the apparel business, supporting strong cash flow[112]. Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code, except for the separation of roles between the Chairman and the CEO[127]. - The company has established a nomination committee effective from January 1, 2022, in compliance with the Corporate Governance Code[127]. Employee and Compensation - The group’s employee compensation expenses for the six months ended June 30, 2022, were HKD 10,292,000, an increase from HKD 9,963,000 for the same period in 2021, representing a growth of approximately 3.3%[82]. - The total number of stock options granted during the period was 2,132,000, with a total of 6,716,000 options outstanding as of June 30, 2022[123].
联亚集团(00458) - 2022 - 中期财报