Financial Performance - For the six months ended September 30, 2022, the revenue from the procurement and sales of cassava chips was approximately HKD 2,102,400,000, an increase of about 37.9% compared to HKD 1,525,000,000 in the same period last year[8]. - The gross profit for the period increased to approximately HKD 237,400,000 from HKD 173,000,000, reflecting a rise of about 37.2% due to increased sales[10]. - The net profit for the period was approximately HKD 34,100,000, compared to HKD 23,800,000 in the previous year, marking an increase of about 43.5%[20]. - For the six months ended September 30, 2022, the company reported revenue of HKD 2,111,557 thousand, an increase from HKD 1,538,857 thousand in the same period last year, representing a growth of 37%[49]. - The gross profit for the same period was HKD 246,201 thousand, compared to HKD 183,782 thousand in the previous year, reflecting a gross margin improvement[49]. - The net profit for the period was HKD 30,241 thousand, up from HKD 22,538 thousand year-on-year, indicating a growth of 34%[51]. Cost and Expenses - The cost of sales and distribution for the period was approximately HKD 161,800,000, up from HKD 127,400,000 in the previous year, primarily due to increased sales volume and higher unit costs for ocean freight[15]. - The total employee cost for the period was approximately HKD 13.7 million, with a total workforce of about 250 employees[24]. - The cost of goods sold for the six months ended September 30, 2022, was HKD 1,865,010, up from HKD 1,352,020 in the previous year, indicating a rise of 38%[82]. Assets and Liabilities - As of September 30, 2022, the net asset value increased to approximately HKD 851,100,000 from HKD 832,900,000 as of March 31, 2022, due to the profit generated during the period[21]. - The current assets as of September 30, 2022, were approximately HKD 845,900,000, a decrease from HKD 1,594,700,000 as of March 31, 2022[21]. - The total liabilities decreased to HKD 1,287,072 from HKD 2,089,871, a reduction of 38.4%[55]. - The total current liabilities decreased to HKD 572,928 from HKD 1,372,557, a reduction of 58.3%[53]. - Inventory levels dropped sharply to HKD 432,172 from HKD 869,181, a decrease of 50.3%[53]. - Accounts receivable decreased to HKD 221,051 from HKD 548,509, a decline of 59.8%[53]. Operational Highlights - The company remains committed to optimizing employee allocation and promoting services to improve profitability despite challenges in the hotel and serviced apartment business[9]. - The group operates eleven procurement facilities for dried cassava chips across Thailand, Cambodia, Laos, and Vietnam, with a total storage capacity of approximately 600,000 tons[31]. - The group plans to expand its procurement network in Thailand, Vietnam, Laos, and Cambodia to develop new supply sources for dried cassava chips and increase market share[31]. - The company plans to continue expanding its operations in Southeast Asia, focusing on the procurement and sales of dried tapioca chips[65]. Shareholder Information - As of September 30, 2022, the company had a public float of at least 25% of its issued share capital[41]. - Major shareholders include Fu Yi Management with a direct beneficial ownership of 225,000,000 shares, representing 38.48% of the issued share capital[40]. - The average number of ordinary shares issued during the period remained at 584,726,715, with no dilution events occurring[86]. Governance and Compliance - The company has adopted a code of conduct regarding securities trading by directors, ensuring compliance with the listing rules[45]. - The audit committee held a meeting on November 30, 2022, to review the accounting policies and interim financial information[47]. - The board approved the financial statements on November 30, 2022, indicating a commitment to transparency and governance[98]. Market Position - The company is the largest procurer and exporter of cassava chips in Thailand and the largest importer of cassava chips in China, providing a comprehensive business model including procurement, processing, storage, logistics, and sales[7]. - The group aims to enhance its market coverage and maintain long-term business growth through a unique integrated business model covering procurement, processing, storage, logistics, and sales of cassava chips[32].
木薯资源(00841) - 2023 - 中期财报