Financial Performance - For the six months ended June 30, 2023, the Group recorded a net profit of approximately HKD 35.8 million, a decrease of about HKD 17.9 million or 33.3% compared to approximately HKD 53.7 million for the same period in 2022[22] - The Group's revenue decreased by approximately HKD 197.1 million or 30.0% to about HKD 460.7 million for the six months ended June 30, 2023, down from approximately HKD 657.8 million in the same period of 2022[22] - The Group's profit margin decreased from approximately 8.2% in the first half of 2022 to about 7.8% in the first half of 2023[22] - The Group recorded a net profit of approximately HK$35.8 million for the six months ended 30 June 2023, a decrease of approximately HK$17.9 million or 33.3% from HK$53.7 million for the same period in 2022[33] - Revenue decreased by approximately HK$197.1 million or 30.0%, from approximately HK$657.8 million for 6M2022 to approximately HK$460.7 million for 6M2023[33] - The Group's net profit margin decreased from approximately 8.2% for 6M2022 to approximately 7.8% for 6M2023[142] Sales Performance - OEM sales revenue fell by approximately HKD 199.0 million or 35.1% to about HKD 367.8 million in the first half of 2023, primarily due to ongoing inflationary pressures and a slowdown in global economic growth[22] - The decline in OEM sales is attributed to reduced demand from major customers due to weakened consumer sentiment[22] - Revenue from major customers, Customer A and Customer B, was HK$112,531 and HK$90,727 respectively for the first half of 2023, compared to HK$166,190 and HK$136,620 in 2022[47] - Revenue from OEM sales decreased from approximately HK$566.8 million for 6M2022 to approximately HK$367.8 million for 6M2023, representing a decrease of approximately 35.1% due to weakened consumption sentiment[64] - Website sales revenue increased by approximately HKD 1.9 million or 2.1% to about HKD 92.9 million for the six months ended June 30, 2023, compared to approximately HKD 91.0 million in the same period of 2022[22] - Web sales revenue increased by approximately HK$1.9 million or 2.1%, from approximately HK$91.0 million for 6M2022 to approximately HK$92.9 million for 6M2023[33] User Engagement - The number of active registered user accounts increased from approximately 57,100 as of December 31, 2022, to about 60,800 as of June 30, 2023[22] - The number of active registered user accounts increased from approximately 57,100 as of 31 December 2022 to approximately 60,800 as of 30 June 2023[33] Cost Management - The Group recorded a decrease in cost of sales by approximately 32.9% from approximately HK$457.4 million for 6M2022 to approximately HK$306.8 million for 6M2023[80] - The group's cost of sales decreased by approximately 32.9% from about HK$457.4 million in the first half of 2022 to about HK$306.8 million in the first half of 2023[83] - Selling and distribution expenses decreased by approximately 18.7% from about HK$58.0 million in the first half of 2022 to about HK$47.1 million in the first half of 2023[110] - Administrative expenses decreased by approximately 3.6% from about HK$90.6 million in the first half of 2022 to about HK$87.4 million in the first half of 2023[111] Investments and Future Plans - The Group plans to invest in the development of cyber security-related maintenance and consultancy services to enhance the security of its web sales platforms[36] - The Group plans to expand its high-end trading card product manufacturing business in the PRC, introducing specialized machinery for production lines[57] - The Group aims to optimize its web sales platform, Q P Market Network, and expand its presence in international markets, particularly North America[57] - The Group is exploring new business directions, including original brand manufacturing (OBM) for card game products, to capture market opportunities[57] - The Group plans to continue investing in business development projects to maintain competitive advantages and adapt to market changes[61] Corporate Governance - The company aims to achieve high standards of corporate governance to protect shareholder interests and enhance corporate value[178] - The company has adopted a code of conduct for directors' securities transactions that meets the standards set by the Model Code[180] - The company has complied with the required standards set out in the Model Code throughout the first half of 2023[163] Shareholder Information - As of June 30, 2023, Mr. Cheng Wan Wai and Mr. Yeung Keng Wu Kenneth each hold a long position of 310,353,954 shares, representing 58.34% of the company[189] - Ms. Liu Shuk Yu Sanny holds 64,706,046 shares, accounting for 12.16% of the company[189] - Mr. Chan Wang Tao Thomas has a long position of 19,950,000 shares, which is 3.75% of the company[191] - The company has not granted any rights to directors or their families to subscribe for equity or debt securities during the six months ended June 30, 2023[176] - No changes in substantial shareholders' interests were noted in the interim report[198] Financial Position - As at 30 June 2023, the Group reported net current assets of approximately HK$163.8 million, a decrease from approximately HK$253.8 million as at 31 December 2022[120] - As at 30 June 2023, the Group's cash and cash equivalents were approximately HK$184.9 million, down from approximately HK$294.7 million as at 31 December 2022, representing a decrease of approximately HK$109.8 million[120] - The total borrowings and lease liabilities amounted to approximately HK$101.7 million as at 30 June 2023, down from approximately HK$119.2 million as at 31 December 2022[121] - The Group's gearing ratio was approximately 12.9% as of June 30, 2023, compared to 14.1% as of December 31, 2022, indicating stability during the reporting period[152] Compliance and Regulations - The company maintains compliance with the Securities and Futures Ordinance regarding shareholder disclosures[198] - The company has not disclosed any new strategies or market expansions in the interim report[196] - No significant short positions in shares were reported as of June 30, 2023[194]
隽思集团(01412) - 2023 - 中期财报