Financial Performance - The company reported revenue of HKD 162,662,000 for the six months ended June 30, 2022, representing a 55.8% increase compared to HKD 104,353,000 for the same period in 2021[7]. - Gross profit for the same period was HKD 43,492,000, with a gross margin of approximately 26.8%[7]. - Profit attributable to owners of the company was HKD 24,704,000, which is a 95.5% increase from HKD 12,659,000 in the previous year[7]. - For the six months ended June 30, 2022, the company reported a pre-tax profit of HKD 30,872,000, a significant increase from HKD 15,351,000 for the same period in 2021, representing a growth of 101.5%[24]. - The total revenue for the six months ended June 30, 2022, was HKD 162,662,000, compared to HKD 104,353,000 in the previous year, indicating a year-over-year increase of 55.8%[24]. - Revenue from fan sales increased to HKD 68,571,000, up 18.5% from HKD 57,927,000 in the previous year[28]. - Vacuum cleaner sales rose to HKD 67,792,000, a significant increase of 102.1% compared to HKD 33,496,000 last year[28]. - Work light sales reached HKD 25,983,000, up 100.5% from HKD 12,930,000 in the prior year[28]. - Total sales for electric tools and fans amounted to HKD 162,662,000, representing a 55.8% increase from HKD 104,353,000 in the previous year[28]. - Pre-tax profit before tax expenses was HKD 119,170,000, compared to HKD 76,540,000 in the previous year, reflecting a growth of 55.7%[32]. - The company reported a net profit attributable to shareholders of HKD 24,704,000, which is an increase of 95.5% from HKD 12,659,000 in the previous year[41]. Assets and Liabilities - The company’s total assets as of June 30, 2022, were HKD 233,999,000, up from HKD 211,202,000 at the end of 2021[9]. - The net current assets increased to HKD 177,238,000 from HKD 151,384,000, indicating improved liquidity[9]. - The total equity of the company increased to HKD 187,743,000 as of June 30, 2022, from HKD 164,395,000 at the end of 2021[9]. - Trade receivables net of impairment provisions increased to HKD 93,006,000 from HKD 71,881,000, indicating a growth of 29.4%[46]. - Total liabilities decreased to HKD 48,688,000 from HKD 53,721,000, showing a reduction of 9.4%[50]. - The current ratio as of June 30, 2022, was approximately 4.12 times, an increase from approximately 3.53 times as of December 31, 2021[72]. - The company has no external debt, with a debt ratio of zero as of June 30, 2022, due to a net cash balance[76]. Cash Flow and Investments - The net cash generated from operating activities for the six months ended June 30, 2022, was HKD 5,195,000, a decrease from HKD 33,988,000 in the same period of 2021[14]. - The company’s cash and cash equivalents at the end of the reporting period were HKD 93,672,000, down from HKD 107,432,000 at the end of June 2021[14]. - The company incurred a net cash outflow from investing activities of HKD 651,000, compared to HKD 2,301,000 in the same period last year, reflecting a reduction in investment expenditures[14]. - The financing activities resulted in a net cash outflow of HKD 1,830,000, slightly up from HKD 1,827,000 in the previous year[14]. - Capital expenditures for the six months ended June 30, 2022, amounted to approximately HKD 0.7 million, a decrease from HKD 2.4 million for the same period in 2021[77]. - The company acquired property, plant, and equipment worth approximately HKD 2,387,000, significantly higher than HKD 376,000 in the previous year[45]. - The company has entered into leasing agreements for properties in Shunde, China, and Hong Kong, with total undiscounted rental payments of approximately HKD 1.83 million for the six months ended June 30, 2022[67]. Corporate Governance and Shareholder Information - The company has complied with the corporate governance code as per the listing rules during the six months ending June 30, 2022[107]. - The audit committee, consisting of two independent non-executive directors and one non-executive director, reviewed the interim results and financial information for the six months ending June 30, 2022, with no disagreements noted[111]. - The company is committed to maintaining high standards of corporate governance practices[108]. - The major shareholder, Mr. Wong, holds a 75.0% interest in the company through Red Dynasty Investments Limited[96]. - The major shareholder, Mr. Ong, holds 1,500,000,000 shares, representing 75.0% of the total equity in Shell Electric Holdings[1]. - Hong Kong Construction (Hong Kong) Engineering Company Limited holds 180,090,000 shares, accounting for 9.0% of the total equity[1]. - The company has adopted a share option scheme approved by shareholders on April 29, 2020, but no options have been granted since its adoption[104][105]. - There were no known interests in the company's shares or related shares by any other individuals as of June 30, 2022[103]. - The company has established a code of conduct for securities trading, which has been adhered to by all directors during the review period[110]. Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[6]. - The company expects to continue leveraging its operational strengths to enhance market presence and explore potential new product developments in the upcoming periods[20]. - The company plans to ensure prudent investment of resources to maintain competitiveness amid ongoing market recovery efforts[70]. - The company plans to utilize the unspent proceeds based on its best estimates of future market conditions, which may change[90].
蚬壳电业(02381) - 2022 - 中期财报