Revenue and Profitability - Revenue for the six months ended June 30, 2022, was RM 79,923,000, an increase of 54.5% compared to RM 51,673,000 in the same period of 2021[26] - Gross profit for the same period was RM 22,759,000, representing a gross margin of 28.5%, up from 24.1% in 2021[26] - The group reported a profit attributable to the owners of the company of 6,000,000 MYR, an increase from approximately 2,700,000 MYR in the same period last year, resulting in a net profit margin of 7.9%, up from 5.2%[43] - The net profit for the period was 6,272 thousand MYR, which is a significant increase of 135.6% compared to 2,662 thousand MYR in 2021[92] - The total comprehensive income for the period was 6,850 thousand MYR, compared to 1,613 thousand MYR in the same period last year, marking an increase of 324.5%[92] - The profit before tax was 9,121 thousand MYR, up from 4,381 thousand MYR in the previous year, reflecting a growth of 107.0%[92] Sales and Product Performance - The number of printed apparel and gift products sold increased by 45.9% from approximately 6,100,000 units to about 8,900,000 units[29] - The revenue from printed apparel products rose by 49.1% to approximately RM 66,800,000, with sales volume increasing from about 4,100,000 units to 5,600,000 units[34] - Revenue from gift products surged by 89.9% to approximately RM 13,100,000, with sales volume growing by 65.0% to about 3,300,000 units[35] - Wholesale revenue from ready-to-wear clothing reached 60,613 thousand MYR, up 50.1% from 40,420 thousand MYR in 2021[131] Expenses and Costs - Selling and distribution expenses increased by 62.1% to approximately RM 4,700,000, reflecting higher costs associated with sales personnel and advertising[37] - Administrative and other operating expenses rose by 38.7% to approximately RM 10,400,000, mainly due to increased employee costs and director remuneration[40] - The total cost of sales for the period was MYR 57.2 million, compared to MYR 39.2 million in the previous year, representing an increase of 46.0%[115] Assets and Liabilities - As of June 30, 2022, the group's current assets were valued at approximately 126,100,000 MYR, compared to 123,600,000 MYR as of December 31, 2021[58] - The group had cash and cash equivalents of 65,500,000 MYR as of June 30, 2022, down from approximately 81,100,000 MYR as of December 31, 2021[58] - The debt-to-equity ratio was approximately 4.8% as of June 30, 2022, down from 5.3% as of December 31, 2021, due to repayment of interest-bearing borrowings and an increase in equity base[59] - The total liabilities as of June 30, 2022, were 15,755 thousand MYR, an increase from 13,224 thousand MYR as of December 31, 2021, indicating a rise of 19.1%[123] - The company's total inventory increased significantly, with raw materials at 1,271,000 MYR, work in progress at 525,000 MYR, and finished goods at 34,249,000 MYR[159] Cash Flow and Financing - The net cash used in operating activities was reported at (9,694) thousand MYR, compared to a net cash inflow of 2,025 thousand MYR in the previous year, indicating a significant decline in cash flow from operations[101] - The net cash used in financing activities was MYR 628,000, a significant improvement compared to MYR 1.3 million in the same period last year[102] - The company recorded a decrease in cash and cash equivalents to 65,547 thousand MYR from 81,132 thousand MYR, a decline of approximately 19.2%[96] Taxation and Compliance - Income tax expenses increased by approximately 1,100,000 MYR or 64.7% to about 2,800,000 MYR due to an increase in taxable profits during the period[42] - The effective tax rate for the six months ended June 30, 2022, was impacted by estimated taxable profits calculated at 24% for Malaysian corporate income tax[139] - The company has complied with the corporate governance code as of June 30, 2022[68] Future Outlook and Strategic Plans - The company anticipates a gradual recovery in the business environment despite ongoing uncertainties in the economic outlook for the second half of 2022[29] - The company plans to continue expanding its market presence in Malaysia and Singapore, focusing on the wholesale and production of printed apparel and gift products[105] - The group plans to extend the expected timeline for the use of unutilized proceeds from the IPO to the end of the 2024 fiscal year to enhance future development flexibility[57] Corporate Governance and Other Information - The company has established an audit committee to oversee financial reporting processes[72] - There were no significant events after June 30, 2022, up to the report date[88] - The company did not recommend any interim dividend for the period[87]
大人国际(01957) - 2022 - 中期财报