Financial Performance - The Group recorded revenue of approximately HK$119.4 million for the six months ended June 30, 2022, a decrease of approximately 1.8% compared to the same period in 2021[19]. - Net profit attributable to owners of the parent declined by approximately 64.6% to approximately HK$2.8 million for the same period[19]. - The Group's profit for the period attributable to owners decreased by approximately HK$5.1 million, or 64.6%, from approximately HK$7.9 million for the six months ended June 30, 2021, to approximately HK$2.8 million for the six months ended June 30, 2022[71]. - Revenue for the six months ended June 30, 2022, was HK$119,397,000, a decrease of 1.0% from HK$121,604,000 in the same period of 2021[165]. - Profit for the period was HK$2,529,000, down 67.9% compared to HK$7,880,000 in the previous year[169]. - Basic and diluted earnings per share attributable to ordinary equity holders of the parent were HK0.69 cents, a decrease from HK1.98 cents in the prior year[181]. - Total comprehensive income attributable to owners of the parent was HK$594,000, down from HK$8,535,000 in the previous year[176]. Revenue Breakdown - Revenue from thermal imaging products and services decreased by approximately 2.1%, totaling about HK$42.3 million, accounting for approximately 35.3% of the Group's revenue[28]. - Revenue from self-stabilised imaging products and services fell by approximately HK$10.8 million, a decline of about 46.2%, contributing approximately 10.6% to the Group's revenue[36]. - Revenue from general aviation products and services increased by approximately 16.9%, reaching about HK$64.3 million, and accounted for approximately 53.9% of the Group's revenue[37]. - Revenue from self-stabilised imaging products and services decreased by approximately HK$10.8 million, or 46.2%, from approximately HK$23.4 million to approximately HK$12.6 million due to delays in delivery schedules[49]. - Revenue from general aviation products and services increased by approximately HK$9.3 million, or 16.9%, from approximately HK$55.0 million to approximately HK$64.3 million, driven by increased market demand for light and ultra-light aircraft engines[49]. Economic Environment - The economic environment was adversely affected by the COVID-19 pandemic, with China's GDP growth at 2.5%, significantly below the government's target of 5.5%[18]. - Hong Kong's GDP contracted by 1.4% year-on-year in the second quarter of 2022 due to the ongoing pandemic[18]. - The GDP growth in mainland China was only 2.5% in the first half of 2022, significantly below the government's target of 5.5%[20]. - Hong Kong's GDP contracted by 1.4% year-on-year in the second quarter of 2022 due to the fifth wave of COVID-19[21]. - The economic outlook for 2022 remains uncertain due to the rapid spread of COVID-19 variants and tightening monetary policies by major central banks[40]. Operational Challenges - The Group faced challenges due to lockdown restrictions in China, impacting private spending and logistics[18]. - The Group remains focused on maintaining effective operations amidst complex market conditions[19]. - The Group is conservatively optimistic about long-term business prospects and aims to optimize resource allocation for sustainable growth[42]. - The Group plans to explore various opportunities to develop its businesses and formulate different strategies for effective resource utilization[43]. Assets and Liabilities - Total assets as of June 30, 2022, were HK$421.8 million, down from HK$432.5 million as of December 31, 2021[13]. - Total liabilities were HK$61.7 million as of June 30, 2022, compared to HK$67.3 million as of December 31, 2021[13]. - As at June 30, 2022, the Group's cash and cash equivalents were approximately HK$213.6 million, representing a decrease of approximately HK$10.4 million compared to approximately HK$224.0 million as at December 31, 2021[74]. Expenses - Selling and distribution expenses decreased by approximately HK$1.7 million, or 12.2%, from approximately HK$13.9 million to approximately HK$12.2 million, mainly due to reduced sales commission costs[61]. - Administrative expenses increased by approximately HK$1.6 million, or 11.4%, from approximately HK$14.0 million to approximately HK$15.6 million, primarily due to increased research and development costs[61]. - Other expenses increased by approximately HK$7.3 million, or 486.7%, primarily due to foreign exchange losses and write-offs of trade receivables[63]. - The cost of sales for the period was HK$80,873,000, resulting in a gross profit of HK$38,524,000[169]. Shareholder Information - As of June 30, 2022, Mr. Yeung Lun Ching and Ms. Wong Kwan Lik each hold approximately 75% of the company's shares, totaling 300,000,000 shares out of 400,000,000 shares issued[112]. - The company is primarily owned by Peiport Alpha Ltd., which is owned 50% by Mr. Yeung and 30% by Ms. Wong, making them controlling shareholders[112]. - Peiport Alpha has a total of 10 shares issued, with Mr. Yeung and Ms. Wong each holding 8 shares, representing 80% ownership[117]. - The total number of shares in issue as of June 30, 2022, is 400,000,000[112]. - The company did not grant any rights to acquire shares or debentures to directors or their family members during the six months ended June 30, 2022[127]. Corporate Governance - The Company has complied with all applicable code provisions of the Corporate Governance Code throughout the six months ended June 30, 2022[99]. - The Directors confirmed compliance with the required standards set out in the Model Code throughout the six months ended June 30, 2022[102]. - The audit committee reviewed the interim financial statements and confirmed compliance with accounting policies and disclosure requirements[160]. Share Option Scheme - The Share Option Scheme allows for a maximum of 40,000,000 shares to be issued, representing 10% of the shares in issue as of the Listing Date[141]. - The exercise price of the share options must be at least the highest of the closing price on the offer date, the average closing price for the five trading days before the offer, or the nominal value of the shares[148]. - The Share Option Scheme aims to motivate Eligible Participants to enhance performance efficiency and to attract and retain contributors beneficial to the Group's long-term growth[149]. - The Share Option Scheme became effective on January 11, 2019, and will remain in force for 10 years unless cancelled or amended[140].
彼岸控股(02885) - 2022 - 中期财报