Revenue Performance - The Group's revenue for the six months ended June 30, 2022, was approximately HK$226.6 million, representing an increase of approximately HK$31.4 million or 16.1% from the corresponding period in 2021[17]. - Revenue from the Jewellery Business increased by approximately HK$51.1 million or 35.8% compared to the same period in 2021, while revenue from the Property Business decreased during the period[17]. - The Group's revenue for the six months ended June 30, 2022, was approximately HK$226.6 million, an increase of approximately HK$31.4 million or 16.1% compared to the same period in 2021[19]. - Revenue from the Jewellery Business was approximately HK$193.8 million, representing a significant increase of approximately HK$51.1 million or 35.8% from the corresponding period of 2021[21]. - Revenue from property sales decreased to HK$21,916,000, down 51.8% from HK$45,448,000 in the prior year[135]. - Revenue from external customers reached HK$226,635,000 for the six months ended June 30, 2022, compared to HK$195,236,000 for the same period in 2021, representing an increase of approximately 16.0%[167]. - Revenue from Hong Kong was HK$141,452,000, a significant increase from HK$66,275,000 in the previous year, indicating a growth of approximately 113.0%[167]. Profitability - The gross profit increased from approximately HK$28.5 million to HK$48.3 million, representing a significant increase of approximately HK$19.8 million or 69.5%[22]. - The overall gross profit increased from approximately HK$57.2 million to HK$68.0 million, representing an increase of approximately HK$10.8 million or 18.9%[24]. - The Group's profit for the period was approximately HK$24.7 million, an increase of approximately 2.5% compared to approximately HK$24.1 million for the same period in 2021[39]. - Profit for the period was HK$24,700,000, slightly up from HK$24,104,000 in the same period last year, reflecting an increase of approximately 2.5%[106]. - Profit for the period attributable to owners of the Company increased to HK$25,347,000 for the six months ended 30 June 2022, compared to HK$24,096,000 for the same period in 2021, representing a growth of approximately 5.2%[197]. Expenses - General and administrative expenses for the six months ended June 30, 2022, were approximately HK$24.0 million, an increase of approximately HK$3.7 million or 18.2% from the corresponding period in 2021[37]. - Selling and distribution costs increased to approximately HK$5.3 million, representing an increase of approximately HK$0.8 million or 17.8% from the corresponding period of 2021[30]. - Total staff costs included other staff's salaries and benefits amounting to HK$10,157,000, an increase from HK$7,054, representing a rise of about 43.0%[178]. - The total staff costs for the six months ended 30 June 2022 amounted to approximately HK$14.4 million, up from approximately HK$11.3 million for the same period in 2021[48]. Assets and Liabilities - As at 30 June 2022, the Group had current assets of approximately HK$515.2 million, a decrease from HK$526.5 million as at 31 December 2021, with bank balances and cash increasing to approximately HK$86.0 million from HK$78.9 million[42]. - The Group's current liabilities amounted to approximately HK$179.4 million as at 30 June 2022, down from HK$186.7 million as at 31 December 2021, resulting in a current ratio of approximately 2.87[42]. - The company's net assets decreased to HK$662,400,000 from HK$685,288,000, a decline of 3.3%[113]. - Current liabilities decreased to HK$515,174,000 from HK$526,538,000, reflecting a reduction of 2.4%[109]. - Non-current assets totaled HK$357,510,000, down from HK$380,568,000, representing a decline of 6.1%[109]. Shareholding and Corporate Governance - As of June 30, 2022, Mr. Kan Kin Kwong holds a total of 886,959,000 shares, representing approximately 67.45% of the company's shareholdings[60]. - Immaculate Diamonds Limited is a substantial shareholder with 729,000,000 shares, accounting for 54.00% of the company's shareholdings[65]. - The company maintained sufficient public float since its listing on the Stock Exchange[83]. - The company complied with the Model Code for Securities Transactions by Directors during the six months ended June 30, 2022[80]. - The role of the chairman and chief executive officer is held by the same individual, Mr. Kan Kin Kwong, which the board considers beneficial for management[74]. Market Conditions and Future Outlook - The Group has been affected by the COVID-19 pandemic, which restricted participation in various shows and exhibitions both in Hong Kong and overseas[12]. - The performance of the Jewellery Business will be highly dependent on the recovery of the global economy and the relaxation of travel restrictions[54]. - Future property sales will primarily depend on the delivery of remaining sold units and the sales of unsold units, with rental and management fee income expected to contribute steadily to the Property Business[54]. Financial Reporting and Compliance - The company’s financial statements are prepared in accordance with Hong Kong Accounting Standards and applicable disclosure requirements[125]. - The company applied several amendments to Hong Kong Financial Reporting Standards for the first time in the current interim period, which had no material impact on its financial positions and performance[127]. - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2022[90].
保发集团(03326) - 2022 - 中期财报