Financial Performance - For the six months ended June 30, 2023, revenue decreased to HK$531,611,000, down 23.4% from HK$693,717,000 in the same period of 2022[15] - Gross profit for the same period was HK$103,136,000, representing a decline of 33.7% compared to HK$155,428,000 in 2022[15] - The company reported a loss from operations of HK$21,346,000, contrasting with a profit of HK$20,837,000 in the prior year[15] - Loss before tax was HK$24,255,000, compared to a profit of HK$18,598,000 in the previous year[15] - The net loss for the period attributable to owners of the company was HK$21,703,000, compared to a profit of HK$18,502,000 in 2022[15] - Basic loss per share was HK$2.43, compared to earnings of HK$2.07 per share in the same period last year[15] - The company reported a decrease in inventories from HK$192,525,000 to HK$166,059,000, a decline of about 13.8%[21] - Total comprehensive income for the six months ended June 30, 2023, was a loss of HK$33,166,000, compared to a loss of HK$7,004,000 for the same period in 2022, reflecting a significant decline[25] - The Group reported a consolidated loss for the period of HK$22,762,000 for the six months ended June 30, 2023, compared to a profit of HK$14,762,000 in the same period of 2022[120] Expenses and Costs - Selling and distribution expenses decreased to HK$16,544,000, down 7.1% from HK$17,798,000 in 2022[15] - General and administrative expenses reduced to HK$114,592,000, a decrease of 7.4% from HK$123,804,000 in the previous year[15] - For the six months ended June 30, 2023, the cost of inventories sold decreased to HK$382,974,000 from HK$503,500,000 in 2022, representing a reduction of approximately 24%[141] - Depreciation and amortization expenses for the six months ended June 30, 2023, totaled HK$41,685,000, down from HK$48,122,000 in the same period of 2022[118] - Employee benefits expense, including salaries, bonuses, and allowances, decreased to HK$149,504,000 from HK$186,275,000, reflecting a decline of approximately 19.7%[144] Assets and Liabilities - The company's non-current assets decreased from HK$804,489,000 as of December 31, 2022, to HK$799,072,000 as of June 30, 2023, reflecting a reduction of approximately 0.6%[21] - Current assets also declined from HK$906,171,000 at the end of 2022 to HK$819,624,000, a decrease of about 9.5%[21] - The company's net current assets decreased from HK$533,429,000 to HK$481,032,000, a decline of about 9.8%[22] - Total equity attributable to owners of the company decreased from HK$1,283,467,000 to HK$1,228,576,000, a reduction of approximately 4.3%[22] - Non-current liabilities decreased from HK$47,642,000 to HK$42,268,000, a reduction of approximately 11.5%[22] Cash Flow and Financing - Net cash generated from operating activities for the six months ended June 30, 2023, was HK$106,258,000, slightly down from HK$107,903,000 in 2022[27] - Cash and cash equivalents at the end of the period increased to HK$259,694,000 from HK$241,467,000 at the end of June 2022, marking a year-on-year increase of 7.5%[27] - The company incurred payments for the purchase of property, plant, and equipment amounting to HK$25,445,000, a decrease of 52.5% compared to HK$53,517,000 in the previous year[27] - The company’s bank loans raised during the period amounted to HK$20,000,000, while bank loans repaid totaled HK$32,709,000[27] Market and Operational Focus - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[15] - The Group's overall performance indicates a need for strategic adjustments in product offerings and market focus to address declining revenues and increasing liabilities[125] Segment Performance - Revenue from the zinc alloy segment was HK$36,007,000, magnesium alloy segment was HK$159,106,000, and aluminium alloy segment was HK$117,548,000 for the first half of 2023[118] - The segment loss for the Group for the six months ended June 30, 2023, was HK$17,156,000, compared to a profit of HK$27,248,000 in the same period of 2022, indicating a significant downturn in performance[120] Shareholder Information - The Board resolved not to declare an interim dividend for the six months ended June 30, 2023, compared to HK$0.3 cents per share in 2022[145] - The total issued and fully paid ordinary shares remained at 893,761,400 as of June 30, 2023, unchanged from previous periods[177] Fair Value Measurements - The Group's financial assets and liabilities' carrying amounts approximate their respective fair values, indicating stable financial health[51] - The fair value hierarchy categorizes inputs into three levels, with Level 1 being quoted prices in active markets for identical assets or liabilities[55] - The Group's valuation techniques and inputs for fair value measurements are reviewed and discussed with the Board to ensure accuracy and compliance[72]
嘉瑞国际(00822) - 2023 - 中期财报