Financial Performance - Total revenue for the first half of 2022 reached HKD 777.9 million, a 57.3% increase compared to HKD 494.6 million in the same period of 2021[15]. - Net profit increased to HKD 126.1 million, up from HKD 33.7 million, representing a significant growth driven by an 11.2% increase in sales volume and an 8.7 percentage point rise in gross margin to 30.3%[15]. - Gross profit increased by 120.7% to HKD 236.0 million, with an overall gross margin of 30.3%, up 8.7 percentage points year-on-year[27]. - Operating profit increased to HKD 180,001 thousand, representing a significant rise of 228.5% from HKD 54,680 thousand in the previous year[66]. - Net profit for the period was HKD 126,142 thousand, compared to HKD 33,666 thousand in 2021, marking a growth of 274.5%[66]. - Basic earnings per share rose to HKD 0.153, up from HKD 0.042, reflecting a growth of 264.3%[66]. - The total comprehensive income for the period ended June 30, 2022, was HKD 77,021,000, a decrease from HKD 39,426,000 in the previous year, reflecting a decline in overall profitability[76]. Market and Sales Performance - Sales value from the Chinese market accounted for 39.6% of total sales, while overseas markets contributed 60.4%, with significant growth in Europe (70.9%), North America (46.0%), South America (64.7%), and Asia excluding China (157.3%) during the period[16]. - The sales revenue growth was driven by strong market demand, with agar, carrageenan, konjac, and blended products recording sales growth of 34.3%, 76.4%, 4.5%, and 43.0% respectively[25]. - The strong demand for agar and carrageenan products from local and overseas food manufacturers contributed to significant sales growth during the recovery from COVID-19[15]. Expenses and Costs - The increase in net profit was partially offset by rising administrative expenses, financing costs, and income tax expenses, which increased by HKD 8.4 million, HKD 2.7 million, and HKD 30.1 million respectively[15]. - The company's administrative expenses rose by 18.7% to HKD 53.3 million, primarily due to increased employee wages and social security costs[30]. - The company's operating expenses, including employee benefits, were HKD 62,870,000, compared to HKD 57,781,000 in the previous year, showing an increase of 8.5%[107]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.02 per share, totaling HKD 16.5 million, to be paid on October 20, 2022[21]. - The company proposed an interim dividend of HKD 0.02 per share, totaling HKD 16,505,000, an increase from HKD 12,312,000 in the previous year, reflecting a growth of 33.5%[120]. Assets and Liabilities - As of June 30, 2022, the group's cash and bank balances reached HKD 85.8 million, a decrease of HKD 48.0 million compared to December 31, 2021[38]. - Total bank borrowings amounted to HKD 653.1 million as of June 30, 2022, with HKD 514.4 million due within one year[40]. - The group has total liabilities of HKD 877,415,000 as of June 30, 2022, compared to HKD 777,180,000 as of December 31, 2021, indicating an increase of approximately 12.9%[97]. - The total assets as of June 30, 2022, amounted to HKD 1,874,115 thousand, an increase from HKD 1,699,550 thousand at the end of 2021[71]. Investments and Acquisitions - The company completed the acquisition of a majority stake in PT Hongxin Algae International, enhancing its operational efficiency and cost advantages[20]. - The company plans to accelerate the expansion of Hongxin's production capacity in 2022 to meet strong customer demand[20]. - The company raised HKD 459,652,000 from borrowings during the six months ended June 30, 2022, compared to HKD 292,087,000 in the previous year, reflecting an increase of approximately 57.3%[78]. Corporate Governance - The company emphasizes good corporate governance to enhance overall effectiveness and create more value for shareholders[183]. - The company has adopted the principles and provisions of the Corporate Governance Code as its corporate governance standard since the listing date[184]. - The board consists of four executive directors, one non-executive director, and three independent non-executive directors, indicating a relatively high level of independence[184]. Future Outlook and Strategy - The company aims to become a global leader in the development and manufacturing of all-natural performance materials[14]. - The company continues to innovate and expand its product offerings, including plant-based artificial meat solutions[14]. - The company has been focusing on expanding its product offerings in hydrophilic colloid products, which may drive future revenue growth[80].
绿新生物科技(01084) - 2022 - 中期财报