Financial Performance - The company recorded a net profit of approximately HKD 537,000 for the six months ended June 30, 2023, compared to a net loss of approximately HKD 4.8 million for the same period in 2022, marking a significant turnaround [5]. - Revenue decreased by approximately HKD 5.8 million or 6.4% to about HKD 85.8 million for the six months ended June 30, 2023, down from approximately HKD 91.6 million for the same period in 2022, primarily due to the completion of a comprehensive hospital project in Macau [6]. - Gross profit increased to approximately HKD 15.5 million for the six months ended June 30, 2023, up from approximately HKD 12.7 million for the same period in 2022, with the overall gross profit margin rising from about 13.9% to approximately 18.0% [8]. - The company reported a profit before tax of HKD 690,000, compared to a loss of HKD 3,949,000 in the same period last year [54]. - The net profit for the six months ended June 30, 2023, was HKD 537,000, a significant recovery from a loss of HKD 4,822,000 in the same period of 2022 [82]. - Basic and diluted earnings per share for the period were HKD 0.03, compared to a loss per share of HKD 0.27 in the previous year [54]. Revenue and Expenses - Revenue for the six months ended June 30, 2023, was HKD 85,753,000, a decrease of 6.4% compared to HKD 91,605,000 for the same period in 2022 [54]. - Selling and distribution expenses decreased by approximately 32.6% to about HKD 2.9 million for the six months ended June 30, 2023, down from approximately HKD 4.3 million for the same period in 2022 [11]. - Administrative and other expenses increased by approximately HKD 0.8 million or 6.1% to about HKD 13.4 million for the six months ended June 30, 2023, primarily due to increased employee salary payments in Hong Kong [12]. - The total employee cost for the six months ended June 30, 2023, was approximately HKD 18.0 million, a decrease from HKD 19.5 million for the same period in 2022 [30]. Assets and Liabilities - Total assets decreased to HKD 179,435,000 from HKD 205,361,000 as of December 31, 2022 [56]. - Current liabilities decreased to HKD 44,993,000 from HKD 71,480,000, indicating improved liquidity [56]. - The total accounts receivable as of June 30, 2023, was HKD 65,774,000, down 17.3% from HKD 79,572,000 as of December 31, 2022 [90]. - The accounts payable decreased to HKD 29,099,000 as of June 30, 2023, from HKD 40,750,000 as of December 31, 2022, a reduction of 28.5% [93]. Cash Flow - The net cash used in operating activities for the six months ended June 30, 2023, was HKD (3,562,000), an improvement from HKD (8,457,000) in the same period of 2022 [60]. - The company reported a net cash used in financing activities of HKD (10,448,000) compared to a net cash generated of HKD 9,474,000 in the same period of 2022 [60]. - Cash and cash equivalents decreased by HKD 13,767,000, resulting in a closing balance of HKD 56,583,000 as of June 30, 2023 [60]. Corporate Governance and Outlook - The company maintains a cautious optimism regarding its business outlook for the coming year, focusing on improving product variety and quality, effective cost control, and expanding its own brand product offerings [5]. - The company confirmed compliance with the corporate governance code throughout the reporting period [38]. - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2023, similar to the previous year [29]. Share Capital and Ownership - Unique Best holds 990,000,000 shares, representing 55% of the issued share capital [45]. - As of June 30, 2023, the company had 1,800,000 shares issued and fully paid, maintaining the same number as December 31, 2022, with a total capital of 18,000 thousand HKD [95]. - There are no unexercised options under the share option scheme adopted on April 23, 2018 [49]. Other Information - The company incurred external processing labor costs of 637 thousand HKD for the first half of 2023, with no such costs reported in the same period of 2022 [97]. - Related party transactions for the six months ended June 30, 2023, included sales of goods amounting to 146 thousand HKD, a significant decrease of 89% from 1,318 thousand HKD in the same period of 2022 [97]. - The company has not reported any significant impact from the application of new accounting standards during the period [67]. - There were no significant events occurring after June 30, 2023, up to the report date [102].
全达电器集团控股(01750) - 2023 - 中期财报