Financial Performance - Revenue for the six months ended September 30, 2022, was HK$34,095,000, a decrease of 21.5% compared to HK$43,462,000 for the same period in 2021[10] - Gross profit for the period was HK$13,532,000, down 43.4% from HK$23,807,000 in the previous year[10] - Profit for the period was HK$45,940,000, a decrease of 48.7% compared to HK$89,503,000 for the same period in 2021[10] - The company reported a total comprehensive income for the period of HK$33,150,000, down from HK$89,463,000 in the previous year[10] - Profit attributable to owners of the Company for the period was HK$45,821,000, a decrease from HK$88,592,000 in the previous period[12] - Total comprehensive income attributable to owners of the Company was HK$33,118,000, down from HK$88,573,000[12] - Basic earnings per share for profit attributable to owners of the Company was HK$1.92, compared to HK$3.71 in the previous period[14] - Diluted earnings per share for profit attributable to owners of the Company was HK$1.62, down from HK$2.88[14] - The net profit for the period ended 30 September 2022 was HK$45,940,000, a decrease from HK$89,503,000 in the same period of 2021, indicating a decline of approximately 48.7%[56] Assets and Liabilities - Total assets as of September 30, 2022, amounted to HK$1,347,239,000, an increase of 2.0% from HK$1,317,101,000 as of March 31, 2022[6] - Net current assets increased significantly to HK$823,329,000 from HK$130,319,000, indicating improved liquidity[8] - Total equity attributable to owners of the Company rose to HK$1,198,771,000, up from HK$1,165,653,000[8] - Total debts increased to about HK$91.8 million as of 30 September 2022, up from HK$85.3 million as of 31 March 2022, including convertible bonds of about HK$90.5 million[141] Cash Flow - Net cash used in operating activities was HK$3,447,000, slightly improved from HK$3,588,000 in the previous period[20] - Net cash used in financing activities was HK$989,000, compared to HK$951,000 in the previous period[20] - Net decrease in cash and cash equivalents was HK$10,551,000, an increase from HK$4,781,000 in the previous period[20] - Cash and cash equivalents at the end of the period were HK$98,854,000, down from HK$121,838,000[20] Expenses - Selling and distribution expenses decreased to HK$8,770,000 from HK$15,616,000, reflecting cost control measures[10] - Administrative expenses increased by about HK$0.5 million or 3.9%, from approximately HK$11.9 million in the 2021 Interim Period to about HK$12.4 million in the 2022 Interim Period, driven by higher foreign exchange losses and maintenance expenses[134] - The Group's administrative expenses for the six months ended 30 September 2022 were HK$5,377,000, slightly lower than HK$5,490,000 in the same period of 2021[56] Market Conditions - The manufacturing operations faced significant challenges due to citywide lockdowns in major cities in China, particularly during April and May 2022, which temporarily halted production in Changchun[119] - The decrease in revenue and gross profit was mainly attributed to the impacts of government-mandated factory lockdowns and increased costs due to logistics and distribution disruptions[114] - The Group believes that improvements in operating performance will be facilitated in the second half of the financial year as pandemic measures stabilize[114] Investments and Financial Instruments - The fair value of the Innovative Pharm Bonds as of September 30, 2022, was approximately HK$695,724,000, up from HK$634,907,000 on March 31, 2022, reflecting an increase of about 9.5%[30] - The fair value of financial assets at FVTPL increased from HK$634,907,000 at 1 April 2022 to HK$695,724,000 at 30 September 2022, representing a fair value change of HK$60,817,000 recognized in profit or loss[110] - The Group's investments in convertible bonds are set to mature on July 28, 2023, following a two-year extension from the original maturity date of July 28, 2021[27] Corporate Governance - The Group has complied with the Corporate Governance Code throughout the six months ended September 30, 2022, with some deviations noted[160] - The Company has not established a dividend policy, preferring to determine dividend payments based on financial performance and market conditions[161] - The Group recognizes the importance of corporate governance and is dedicated to maintaining high standards in this area[160] Shareholder Information - As of September 30, 2022, the company had a total of 2,390,000,000 shares issued[175] - Dr. Xie Yi holds 900,000,000 shares, representing approximately 37.66% of the company's ordinary shares[173] - The company has outstanding convertible bonds with a principal amount of HK$577,170,000, which can be converted into shares at a price of HK$0.6413 per share[175] - If the conversion rights of the convertible bonds are fully exercised, UG International will hold approximately 27.36% of the enlarged share capital of the company[175]
精优药业(00858) - 2023 - 中期财报