Financial Performance - The Group's total revenue for the six months ended June 30, 2023, was approximately HK$400.9 million, representing a decrease of approximately 29.8% compared to HK$571.4 million for the same period last year[10]. - The Group recorded a gross profit of approximately HK$80.0 million, with a gross profit margin of approximately 20.0%, down from HK$119.3 million and 20.9% respectively in the previous year[10]. - Profit attributable to equity holders of the Company for the six months ended June 30, 2023, was approximately HK$20.6 million, a decrease from HK$48.6 million in the same period last year[11]. - Basic earnings per share attributable to equity holders of the Company were approximately 3.33 HK cents, down from 7.84 HK cents in the previous year[11]. - Revenue for the six months ended June 30, 2023, was approximately HK$400.9 million, a decrease of approximately HK$170.5 million or 29.8% from HK$571.4 million for the same period in 2022[26]. - Profit before tax decreased to HK$22,237,000, compared to HK$55,613,000 in the prior year, representing a decline of approximately 60%[120]. - The Group reported a profit for the period of HK$20,647,000, down from HK$48,587,000 in the previous year, which is a decrease of about 57%[156][160]. Segment Performance - The e-cigarettes products segment faced challenges due to the removal of exclusivity terms with a major customer, impacting sales orders[9]. - Integrated plastic solutions segment revenue was approximately HK$318.6 million, accounting for 79.5% of total revenue, representing an increase of approximately HK$56.3 million or 21.5% from HK$262.3 million for the same period in 2022[27]. - E-cigarettes products segment revenue was approximately HK$81.9 million, accounting for 20.4% of total revenue, a decrease of approximately HK$223.8 million or 73.2% from HK$305.7 million for the same period in 2022[28]. - Medical consumable products segment revenue was approximately HK$0.4 million, accounting for 0.1% of total revenue, a decrease of approximately HK$3.0 million or 88.2% from HK$3.4 million for the same period in 2022[33]. - The gross profit from integrated injection molding solutions was approximately HK$69.9 million, with a gross margin of 21.9%, down from 23.5% in 2022[41]. - The gross profit from e-cigarette products was approximately HK$10.1 million, a significant decrease of approximately 82.4% from HK$57.4 million in 2022, with a gross margin of 12.3%[41]. Cost and Expenses - Selling and distribution costs for the six months ended June 30, 2023, were approximately HK$2.4 million, a decrease of approximately HK$0.7 million or 22.6% from HK$3.1 million for the same period in 2022[39]. - Administrative and other operating expenses decreased by approximately HK$4.6 million, or 7.7%, to approximately HK$55.0 million for the six months ended June 30, 2023[44]. - The Group's total income tax expenses for the six months ended June 30, 2023, were HK$1,590,000, down from HK$7,026,000 in 2022, a decrease of approximately 77%[188]. - Total staff costs decreased to HK$75,926,000 in 2023 from HK$92,660,000 in 2022, reflecting a decrease of approximately 18%[185]. Cash Flow and Financial Position - As of June 30, 2023, the Group had cash and cash equivalents of approximately HK$160.9 million, an increase from HK$128.4 million as of December 31, 2022[55]. - Interest-bearing borrowings as of June 30, 2023, amounted to HK$112.7 million, with a weighted average effective interest rate of approximately 4.59% per annum[55]. - The Group's gearing ratio as of June 30, 2023, was 16.4%, down from 18.9% as of December 31, 2022[55]. - Net cash from operating activities for the six months ended June 30, 2023, was HK$62,644,000, an increase of 38.2% compared to HK$45,347,000 in 2022[136]. - The total cash and cash equivalents at the end of the period rose to HK$160,910,000, compared to HK$93,376,000 at the end of June 2022, marking a 72.1% increase[136]. Governance and Compliance - The Company has complied with the Corporate Governance Code during the six months ended June 30, 2023[80]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2023[82]. - All Directors confirmed compliance with the Model Code for Securities Transactions during the six months ended June 30, 2023[89]. - The Company will review its management structure periodically to ensure appropriate governance practices[79]. Shareholder Information - As of June 30, 2023, Mr. Chan Tsan Lam holds a total of 396,771,000 shares, representing 64.0% of the company's total interests[97]. - Oceanic Green and New Strength each hold 127,100,000 shares, accounting for 20.5% of the total shareholding[101]. - Gold Alliance holds 94,395,000 shares, which is 15.2% of the total shareholding[101]. - The company adopted a share option scheme on May 28, 2019, to reward selected participants for their contributions[106]. - The total number of shares to be issued upon exercise of options under the Option Scheme is not specified in the provided documents[105]. Market Environment - The macroeconomic environment has been challenging, with high inflation and rising interest rates affecting consumer confidence[9]. - The Group plans to continue expanding its product range and prospecting new customers for high-quality e-cigarettes and plastic products in a challenging business environment[48].
天长集团(02182) - 2023 - 中期财报