Revenue and Profitability - Revenue for the six months ended June 30, 2022, was approximately US$72.8 million, a decrease of approximately 39.9% compared to US$121.0 million for the same period in 2021[18]. - Profit attributable to shareholders for the Period was approximately US$1,404,000, compared to US$1,678,000 in the Preceding Period, reflecting a decline of around 16.3%[34]. - Profit before income tax of approximately US$1,601,000 for the Period, down from US$1,881,000 in the Preceding Period, representing a decrease of about 14.9%[32]. - Total comprehensive income for the period was US$1,064,000, a decline of 37.5% compared to US$1,708,000 in the previous year[103]. - Basic and diluted earnings per share for the period were HK$1.36, down from HK$1.63 in the same period last year[101]. Cost and Expenses - Cost of sales for the same period was approximately US$67.0 million, down approximately 42.0% from US$115.4 million in the previous period[19]. - Selling and distribution expenses increased to US$1.4 million from US$1.0 million, mainly due to higher staff costs of approximately US$923,000[24]. - General and administration expenses increased to US$2,000,000, accounting for 2.8% of revenue, up from US$1,800,000 and 1.5% in the Preceding Period[29]. - Finance costs decreased to approximately US$773,000, representing 1.1% of total revenue, down from US$1,069,000 and 0.9% in the Preceding Period[30]. - Employee benefit expenses increased to US$2,572,000 for the six months ended June 30, 2022, up 13.9% from US$2,258,000 in the previous year[151]. Assets and Liabilities - Non-current assets increased to US$10,546,000, up 16.4% from US$9,059,000 as of December 31, 2021[106]. - Current assets decreased to US$47,387,000, down 30.4% from US$68,141,000 at the end of 2021[106]. - Total liabilities decreased to US$22,339,000, down 47.8% from US$42,708,000[107]. - Net assets increased to US$35,396,000, up 3.1% from US$34,332,000[107]. - The Group's total borrowings, including secured and unsecured, decreased to US$5,578,000 as of June 30, 2022, down from US$17,147,000 as of December 31, 2021, a reduction of approximately 67%[192]. Revenue Breakdown - Revenue breakdown for product categories showed mobile devices and smart charging at US$42.4 million (58.3%), motor control at US$22.1 million (30.4%), and sensors and automation at US$6.1 million (8.3%) for the six months ended June 30, 2022[17]. - Revenue recognized from external customers in Hong Kong was $49.75 million, down 55.7% from $112.19 million in the previous year[142]. - Revenue from the PRC increased significantly to $23.00 million, up 160.0% from $8.82 million in the same period last year[142]. Strategic Focus - The Group aims to strengthen its market position in the IC application solutions industry by increasing market share and enhancing service quality[10]. - The Group focuses on providing environmentally-friendly and energy-saving solutions in fast-growing market categories[9]. - The overall strategy includes expanding market presence and developing new IC application solutions to drive sustainable growth[10]. Shareholder Information - Mr. Lam Keung serves as both the Chief Executive Officer and Chairman, holding 69.80% of the company's shares, totaling 558,390,000 shares[75]. - Major shareholders include P. Grand (BVI) Ltd. with a 62.30% stake and Ms. Feng Tao with a 69.80% stake in the Company[83]. - The Board resolved not to declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[49]. Cash Flow and Financing - Net cash generated from operating activities increased to $10,114,000, compared to $5,812,000 in the previous year, representing a growth of 73.5%[111]. - Net cash used in financing activities totaled $(12,546,000), compared to $(6,751,000) in the previous year, reflecting an increase of 85.5%[114]. - The company experienced a net decrease in cash and cash equivalents of $(3,344,000) for the period, compared to $(922,000) in the previous year[114]. Compliance and Governance - The unaudited interim condensed consolidated financial statements for the six months ended June 30, 2022, were reviewed by the audit committee[68]. - The company has adopted the Model Code for securities transactions by directors as its code of conduct[65]. - The audit committee consists solely of independent non-executive directors[68].
康特隆(01912) - 2022 - 中期财报