Revenue Performance - Revenue decreased by HKD 241.5 million, a decline of 3.5%, from HKD 6,849.3 million in the first half of 2021 to HKD 6,607.8 million in the first half of 2022[15]. - Total revenue decreased by HKD 241.5 million, a decline of 3.5%, from HKD 6,849.3 million in the first half of 2021 to HKD 6,607.8 million in the first half of 2022[34]. - For the six months ended June 30, 2022, total revenue was HKD 6,607,825, a decrease of 3.5% compared to HKD 6,849,280 for the same period in 2021[142]. Sales Breakdown - Sales of graphics cards decreased by HKD 177.4 million, a decline of 3.0%, from HKD 5,958.9 million in the first half of 2021 to HKD 5,781.5 million in the first half of 2022[16]. - Sales of self-branded graphics cards decreased by HKD 50.3 million, a decline of 1.1%, from HKD 4,413.9 million in the first half of 2021 to HKD 4,363.6 million in the first half of 2022[16]. - ODM/OEM orders for graphics cards decreased by HKD 127.1 million, a decline of 8.2%, from HKD 1,545.0 million in the first half of 2021 to HKD 1,417.9 million in the first half of 2022[17]. - Sales of cryptocurrency mining processing cards (CMP cards) plummeted by HKD 258.5 million, a decline of 94.5%, from HKD 273.5 million in the first half of 2021 to HKD 15.0 million in the first half of 2022[17]. - Sales of other personal computer-related products and components decreased by HKD 42.9 million, a decline of 8.4%, from HKD 508.3 million in the first half of 2021 to HKD 465.4 million in the first half of 2022[19]. Regional Revenue Performance - Revenue in the Asia-Pacific region increased by HKD 187.1 million, an increase of 8.4%, from HKD 2,237.6 million in the first half of 2021 to HKD 2,424.7 million in the first half of 2022[21]. - NALA region revenue increased by HKD 309.7 million, an increase of 28.2%, from HKD 1,099.9 million in the first half of 2021 to HKD 1,409.6 million in the first half of 2022[22]. - Revenue in China decreased by HKD 630.0 million, a decline of 34.8%, from HKD 1,811.1 million in the first half of 2021 to HKD 1,181.1 million in the first half of 2022[23]. - EMEAI region revenue decreased by HKD 108.3 million, a decline of 6.4%, from HKD 1,700.7 million in the first half of 2021 to HKD 1,592.4 million in the first half of 2022[25]. Profitability and Expenses - Gross profit for the first half of 2022 was HKD 1,365.8 million, a decrease of HKD 498.3 million or 26.7% from HKD 1,864.1 million in the first half of 2021[37]. - Gross margin decreased from 27.2% in the first half of 2021 to 20.7% in the first half of 2022[37]. - Operating expenses decreased by HKD 417.5 million, a decline of 53.8%, from HKD 775.7 million in the first half of 2021 to HKD 358.2 million in the first half of 2022[42]. - The profit attributable to the company's owners for the first half of 2022 was HKD 802.1 million, a decrease from HKD 932.2 million in the same period of 2021, primarily due to a decline in gross profit margin[46]. - Basic and diluted earnings per share for the first half of 2022 were HKD 2.070 and HKD 2.068, respectively, compared to HKD 2.469 and HKD 2.430 in the first half of 2021[47]. Financial Position - Total equity increased by HKD 171.3 million, representing a growth of 5.5%, from HKD 3,087.4 million as of December 31, 2021, to HKD 3,258.7 million as of June 30, 2022[48]. - Total non-current assets rose by HKD 318.8 million, an increase of 118.2%, from HKD 269.6 million as of December 31, 2021, to HKD 588.4 million as of June 30, 2022[49]. - Total current assets as of June 30, 2022, were HKD 6,581.1 million, down from HKD 6,654.8 million as of December 31, 2021[52]. - Cash and bank balances decreased from HKD 3,765.1 million as of December 31, 2021, to HKD 2,997.4 million as of June 30, 2022, primarily due to cash payments for property acquisition[53]. - Trade and other payables decreased by HKD 91.8 million, a decline of 4.3%, from HKD 2,130.4 million as of December 31, 2021, to HKD 2,038.6 million as of June 30, 2022[55]. Inventory and Cash Management - As of June 30, 2022, the inventory value was HKD 2,176.7 million, an increase of HKD 665.2 million or 44.0% compared to HKD 1,511.5 million on December 31, 2021[60]. - The inventory turnover days increased from 40 days on December 31, 2021, to 64 days on June 30, 2022, due to a slowdown in sales[60]. - The company is actively managing inventory risks and controlling operating expenses in response to the current market conditions[32]. Dividends and Shareholder Information - The board proposed an interim dividend of HKD 0.80 per share, totaling an estimated HKD 310.1 million[47]. - The company declared an interim dividend of HKD 0.80 per share, totaling HKD 310,147,000, compared to HKD 0.84 per share and HKD 325,209,000 in the previous year[94]. - Major shareholders owning 5% or more of the issued share capital include Mr. Wang Xiehao with 14.29% (55,405,750 shares) and Ms. He Huangmeid with 14.20% (55,050,000 shares)[78]. Government Support and Grants - The company received government subsidies of HKD 2.8 million under the employment support scheme to support employee salaries[41]. - Government grants received increased significantly to HKD 3,775,000 in June 2022 from HKD 469,000 in June 2021, marking a growth of 706.4%[152]. Research and Development - The company aims to leverage its advanced R&D capabilities and production facilities to introduce innovative products to the market[6]. - Research and development expenses increased to HKD 29,016,000 in June 2022 from HKD 25,008,000 in June 2021, reflecting a growth of 16.0%[157].
栢能集团(01263) - 2022 - 中期财报