Financial Performance - For the six months ended June 30, 2023, the company reported a basic profit attributable to shareholders of HKD 86,970,000, compared to a loss of HKD 1,412,000 for the same period in 2022[1]. - Revenue for the six months ended June 30, 2023, was HKD 347,231,000, an increase of 30% compared to HKD 267,462,000 for the same period in 2022[38]. - Gross profit for the same period was HKD 187,415,000, reflecting a gross margin of 54%, up from 49% in the previous year[38]. - Operating profit increased significantly to HKD 56,227,000 from HKD 18,746,000 year-on-year[38]. - Basic and diluted earnings per share for the period were HKD 7.37, a recovery from a loss of HKD 0.12 in the same period last year[38]. - The company reported a profit attributable to owners of HKD 86,970,000, compared to a loss of HKD 1,412,000 in the prior year[38]. - The company recorded unrealized gains of HKD 13.9 million from listed securities investments for the first half of 2023, compared to unrealized losses of HKD 26.2 million in the same period of 2022[52]. - The company reported a tax expense of HKD 8,706,000 for the six months ended June 30, 2023, compared to HKD 3,425,000 in the same period of 2022[99]. Dividends - The company's mid-term dividend per share remained unchanged at HKD 0.02, totaling HKD 23,600,000 for both 2023 and 2022[1]. - The company declared an interim dividend of HKD 2.00 per share, compared to no dividend in the previous year[38]. - The company will pay an interim dividend on September 29, 2023, to shareholders listed on September 12, 2023[159]. Assets and Liabilities - Trade receivables increased significantly to HKD 172,991,000 as of June 30, 2023, from HKD 60,962,000 as of December 31, 2022, indicating improved customer order and delivery conditions[21]. - The company's current ratio decreased to 4.8 as of June 30, 2023, down from 6.6 as of December 31, 2022, reflecting a change in liquidity position[21]. - The company reported a total asset value of HKD 1,261,124,000 as of June 30, 2023, compared to HKD 1,116,623,000 as of December 31, 2022[83]. - The company's total liabilities included contract liabilities of HKD 7,243,000 and accrued expenses of HKD 122,925,000 as of June 30, 2023[13]. - The company's total liabilities decreased to HKD 261,006,000 as of June 30, 2023, from HKD 170,372,000 as of December 31, 2022[1]. - The cumulative unrecognized tax losses amounted to HKD 9,335,000 as of June 30, 2023, down from HKD 92,210,000 as of December 31, 2022[79]. Cash Flow - The company’s operating cash flow for the six months ended June 30, 2023, was a net outflow of HKD 11,669,000, compared to an inflow of HKD 63,783,000 in the same period last year[45]. - As of June 30, 2023, the company's cash and bank balances amounted to HKD 908,263,000, a decrease from HKD 927,922,000 as of December 31, 2022[83]. Market and Product Development - The company plans to continue marketing efforts for the "Teenage Mutant Ninja Turtles" toy series following the successful release of the animated film in August 2023[40]. - The "Miraculous: Tales of Ladybug & Cat Noir" movie launched on Netflix in summer 2023, with expectations to drive further toy sales in the second half of the year[41]. - The company expects strong sales for the re-launched "Teenage Mutant Ninja Turtles" toy series following the successful release of the animated film "Teenage Mutant Ninja Turtles: Mutant Mayhem" in summer 2023[62]. - The animated series "Miraculous: Tales of Ladybug & Cat Noir" continues to be popular, airing in over 120 countries and on multiple digital platforms[64]. - The company is actively developing new products to align with the upcoming sequel to "Teenage Mutant Ninja Turtles: Mutant Mayhem" and a new animated series on Paramount+[63]. Employee and Governance - The company has 62 employees in Hong Kong and the United States as of June 30, 2023[86]. - The company has adopted the corporate governance code and complied with all applicable code provisions, with further details to be included in the annual report[156]. - The company has not appointed a CEO, and the board oversees management, business strategies, and financial performance[169]. - The company’s board structure will be regularly reviewed to ensure robust corporate governance[169]. - The company’s independent non-executive director, Zhou Yujun, resigned on May 19, 2023[148]. Shareholder Information - The company has a maximum limit of 118,000,000 shares for its share incentive plan, representing 10% of the total issued shares at the time of adoption[88]. - The company’s directors hold a total of 104,000,000 shares, representing 5.02% of the total shares[127]. - The company’s major shareholder, Chen Junhao, holds 626,000,000 ordinary shares, representing 53.05% of the total shares[152]. - Color Star Group holds 600,000,000 ordinary shares, accounting for 50.85% of the total shares[152]. - The company has not granted, exercised, or canceled any stock options during the reporting period[123]. - The company has a total of 118,000,000 shares available for reward under the share incentive plan[130]. - The company has 41,116,000 shares available for issuance under the 2018 Color Star Toys Plan, with an initial grant of 57,784,000 options[149]. - The company has no plans to issue further options under the 2018 Color Star Toys Plan following its termination on May 19, 2023[149]. - The company did not repurchase any shares during the reporting period[155].
彩星玩具(00869) - 2023 - 中期财报