Financial Performance - For the six months ended December 31, 2021, the company reported a revenue of HKD 268,174,000, an increase of 12.5% compared to HKD 238,350,000 for the same period in 2020[7] - The gross profit for the same period was HKD 29,824,000, a decrease of 2.8% from HKD 30,695,000 in the previous year[7] - The company achieved a profit before tax of HKD 64,252,000, significantly up from HKD 2,919,000 in the prior year, marking an increase of 2,095%[9] - The net profit for the period was HKD 48,128,000, compared to HKD 2,645,000 in the previous year, representing an increase of 1,718%[9] - Total comprehensive income for the period was HKD 60,889,000, a substantial rise from HKD 5,034,000 in the same period last year, reflecting an increase of 1,107%[11] - The company reported a significant increase in investment property fair value change, amounting to HKD 71,413,000, compared to HKD 14,561,000 in the previous year[7] - The adjusted profit before tax for the reporting segments was HKD 83,680,000 for the six months ended December 31, 2021, compared to HKD 13,335,000 for the same period in 2020, indicating a significant increase[33] - The profit attributable to the company's owners for the same period was approximately HKD 46,741,000, a significant increase of 2,020.7% from HKD 2,204,000[83] Assets and Liabilities - Non-current assets totaled HKD 1,429,365,000 as of December 31, 2021, up from HKD 1,290,165,000 as of June 30, 2021[13] - Current assets increased to HKD 525,715,000 from HKD 474,137,000, indicating a growth of 10.9%[13] - As of December 31, 2021, the net current assets increased to HKD 156,932 thousand from HKD 68,327 thousand as of June 30, 2021, representing a growth of 130%[15] - Total assets less current liabilities rose to HKD 1,586,297 thousand, up from HKD 1,358,492 thousand, indicating an increase of 16.7%[15] - The total equity attributable to owners of the company reached HKD 1,259,791 thousand, compared to HKD 1,200,263 thousand, reflecting a growth of 4.9%[15] - The total liabilities as of December 31, 2021, amounted to HKD 695,641,000, an increase from HKD 565,752,000 as of June 30, 2021[35] - The total non-current liabilities increased to HKD 326,858 thousand from HKD 159,942 thousand, showing a substantial increase of 104%[15] Cash Flow - The net cash used in operating activities for the six months ended December 31, 2021, was HKD (58,001) thousand, a significant decline from HKD (8,245) thousand in the same period of 2020[20] - Cash and cash equivalents at the end of the period increased to HKD 67,467 thousand from HKD 41,270 thousand, marking a rise of 63.5%[20] - The company reported a net cash used in investing activities of HKD (55,503) thousand, compared to a net cash generated of HKD 5,193 thousand in the previous year[20] - The financing activities generated a net cash inflow of HKD 109,993 thousand, a turnaround from a cash outflow of HKD (15,556) thousand in the prior period[20] Revenue Breakdown - The total revenue for the six months ended December 31, 2021, was HKD 268,174,000, with external customer revenue from cable and wire manufacturing at HKD 169,709,000, copper rod trading at HKD 91,419,000, and investment properties at HKD 7,046,000[27] - Revenue from the China market reached HKD 160,528,000, up 39% from HKD 115,410,000 year-on-year[37] - The wire and cable segment generated revenue of approximately HKD 169,709,000, a 42.6% increase from HKD 118,991,000, accounting for 63.3% of total revenue[86] - The copper rod business reported revenue of approximately HKD 91,419,000, up 41.0% from HKD 64,858,000, benefiting from high international copper prices[87] - Rental income from investment properties was approximately HKD 7,046,000, a decrease of 8.1% from HKD 7,671,000 due to the sale of properties in Dongguan[89] Business Strategy and Outlook - The company plans to continue exploring market expansion and new product development strategies to sustain growth in the upcoming periods[9] - The group expects a steady recovery in the global economy next year, with improvements in the operating environment for its wire, cable, and copper rod businesses[92] - The group is actively seeking potential business partners and new business opportunities to achieve balanced development and diversify its revenue sources[92] Corporate Governance - The company has complied with the corporate governance code, with exceptions noted for specific clauses due to operational circumstances[111] - The independent non-executive director, Mr. Zhong, has served for over 18 years and was re-elected at the 2021 annual general meeting, demonstrating continued independent judgment[112] - The chairman and CEO roles are currently held by the same individual, Mr. Zhou, which the board believes is in the best interest of the company[116] - The company’s audit committee, composed of independent non-executive directors, has reviewed the unaudited interim results and agreed on the accounting treatment adopted[120] Employment and Commitments - The group employed approximately 500 employees as of December 31, 2021, maintaining the same number as June 30, 2021[93] - The group has capital commitments for construction amounting to HKD 178,178,000 as of December 31, 2021[75] Shareholder Information - As of December 31, 2021, the company’s directors and their associates held a total of 39,380,000 shares, representing 1.66% of the issued share capital[107] - No major shareholders or other individuals, excluding directors and senior management, held any disclosed interests in the company's shares as of December 31, 2021[108]
星凯控股(01166) - 2022 - 中期财报