Revenue Performance - Revenue for the first half of the 2022 fiscal year decreased by approximately 20.0% to HKD 770.7 million from HKD 963.4 million in the same period of 2021[11]. - Sales from the Tian Wang watch business accounted for approximately 84.6% of total revenue, decreasing by about 20.5% to HKD 652.1 million[12]. - Revenue from the Balco watch business decreased by approximately 41.5% to HKD 11.5 million, representing about 1.5% of total revenue[13]. - Revenue from other brand sales dropped by approximately 23.5% to HKD 61.5 million, accounting for about 8.0% of total revenue[14]. - The revenue contribution from the Tianwang watch business was approximately 84.6% of the total revenue in the first half of the 2022 fiscal year, down from 85.1% in the same period of the previous year[29]. - The revenue from the Baige watch business decreased by approximately HKD 8.1 million or about 41.5%, from approximately HKD 19.6 million in the first half of the 2021 fiscal year to approximately HKD 11.5 million in the first half of the 2022 fiscal year[33]. - The revenue from other brands (China) decreased by approximately HKD 18.9 million or about 23.5%, from approximately HKD 80.4 million in the first half of the 2021 fiscal year to approximately HKD 61.5 million in the first half of the 2022 fiscal year[34]. - Total revenue for the six months ended December 31, 2021, was HKD 770,678,000, with external sales contributing HKD 770,678,000[90]. Profitability - Gross profit dropped by about 24.5% to HKD 549.4 million, with a gross margin of 71.3%, down from 75.6% in the previous year[20]. - The company's profit attributable to owners decreased from approximately HKD 155.3 million in the first half of the 2021 fiscal year to approximately HKD 40.7 million in the first half of the 2022 fiscal year, a decline of about 73.8%[24]. - The group reported a net profit of HKD 38,580,000 for the period, a decrease from HKD 159,592,000 in the same period of the previous year[67]. - Basic earnings per share for the period was HKD 2.0, down from HKD 7.5 in the previous year, reflecting a decline of 73.3%[68]. - Total comprehensive income attributable to owners was HKD 67,685,000, compared to HKD 289,247,000 in the prior period, representing a decrease of 76.6%[68]. Expenses and Costs - Administrative expenses decreased by approximately 11.7% to HKD 56.7 million due to reduced employee costs[22]. - The employee costs for the first half of the 2022 fiscal year were approximately HKD 210.6 million, compared to HKD 193.0 million in the first half of the 2021 fiscal year[50]. - The total employee costs for the six months ended December 31, 2021, were HKD 210,569, compared to HKD 193,042 in the previous year[102]. Cash Flow and Financial Position - The net cash generated from operating activities for the first half of the 2022 fiscal year was approximately HKD 155.9 million, a decrease of about HKD 148.1 million from HKD 304.1 million in the first half of the 2021 fiscal year[39]. - The net cash generated from investing activities in the first half of the 2022 fiscal year was approximately HKD 521.3 million, primarily from cash inflows of approximately HKD 306.7 million from redeeming financial assets measured at fair value through profit or loss[40]. - The net cash used in financing activities for the first half of the 2022 fiscal year was approximately HKD 42.0 million, mainly due to the repayment of bank loans of approximately HKD 40.0 million[40]. - Cash and cash equivalents at the end of the period stood at HKD 890,290,000, compared to HKD 254,856,000 at the beginning of the period, indicating a significant increase[73]. - The group’s cash and cash equivalents decreased significantly, with term deposits dropping from HKD 658,915,000 as of June 30, 2021, to HKD 462,051,000 as of December 31, 2021, a decline of 29.9%[125]. Assets and Liabilities - Total assets as of December 31, 2021, were HKD 3,069.1 million, while total liabilities were HKD 370.8 million[9]. - The company's inventory balance as of December 31, 2021, was approximately HKD 378.2 million, a slight decrease of about 0.1% compared to HKD 378.7 million as of June 30, 2021[37]. - The company's total assets as of December 31, 2021, were HKD 2,780,351,000, an increase from HKD 2,748,990,000 as of June 30, 2021[70]. - Total liabilities decreased to HKD 82,062,000 from HKD 115,196,000, indicating improved financial stability[70]. - The group’s total liabilities related to lease agreements were approximately HKD 7.3 million, consistent with the right-of-use assets recognized, indicating a balanced approach to lease financing[108]. Business Operations - The number of retail points for Tian Wang watches remained stable at 2,214, with a net decrease of 12 points[12]. - The number of sales points for Tianwang watches decreased by 12 to 2,214 as of December 31, 2021, compared to June 30, 2021[28]. - The company launched no less than 10 new models of Tianwang watches during the first half of the 2022 fiscal year, with prices ranging from approximately RMB 100 to RMB 2,900[29]. - The group plans to optimize its retail network for the Tianwang watch brand by closely monitoring the performance of existing sales points[64]. - The group will continue to enhance its online business capabilities through live streaming and new media channels to attract new customers[65]. Shareholder Information - The company repurchased 2,808,000 shares at an average price of HKD 0.72, totaling HKD 1,980,000, which were cancelled on December 30, 2021[137]. - The board believes that the share repurchase will enhance the company's net asset value per share and earnings per share[161]. - As of December 31, 2021, the chairman and CEO held 1,456,277,000 shares, representing 70.23% of the company[175]. - Red Glory holds a beneficial interest of 1,456,277,000 shares, representing 70.23% of the company's equity[180]. - Ms. Tan holds a beneficial interest of 1,465,369,000 shares, representing 70.67% of the company's equity[180].
时计宝(02033) - 2022 - 中期财报