Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 154,759,000, a decrease of 11.7% compared to HKD 175,240,000 in the same period of 2022[6] - Operating profit for the same period was HKD 11,186,000, down 24.5% from HKD 14,750,000 in 2022[6] - Profit before tax decreased to HKD 10,469,000, a decline of 22.7% from HKD 13,524,000 in the previous year[6] - Net profit attributable to equity shareholders was HKD 9,031,000, down 12.7% from HKD 10,338,000 in 2022[6] - Basic and diluted earnings per share for the period were HKD 1.80, compared to HKD 2.06 in the same period last year[6] - Net profit for the first half of 2023 was approximately HKD 9 million, a decrease of about 20.1% from the same period in 2022[65] Revenue Breakdown - Supply chain management services revenue decreased to HKD 77,123,000, a decline of 13.3% from HKD 88,894,000 in 2022[23] - Market planning and sales revenue also fell to HKD 77,636,000, down 10.1% from HKD 86,346,000 in the previous year[23] - Revenue from supply chain management services fell by about 13.2% to HKD 77.1 million, down from HKD 88.9 million[60] - Revenue from marketing and sales services decreased by approximately 10.1% to HKD 77.6 million, compared to HKD 86.3 million in the previous year[60] Assets and Liabilities - Total assets as of June 30, 2023, were HKD 134,792,000, a slight decrease from HKD 136,847,000 at the end of 2022[9] - Current liabilities increased to HKD 75,416,000 from HKD 82,770,000 at the end of 2022, indicating improved liquidity[9] - The company's net asset value increased to HKD 113,284,000 from HKD 109,261,000 at the end of 2022, reflecting a positive trend in equity[10] - Cash and cash equivalents decreased by HKD 11,625,000, resulting in a closing balance of HKD 42,524,000 as of June 30, 2023, compared to HKD 51,358,000 at the end of the previous year[15] - Trade receivables (net of loss allowance) increased to HKD 64,808,000 as of June 30, 2023, from HKD 60,056,000 as of December 31, 2022, reflecting an increase of approximately 7.3%[42] - Trade payables rose significantly to HKD 15,541,000 as of June 30, 2023, compared to HKD 6,517,000 as of December 31, 2022, indicating an increase of approximately 138.5%[44] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2023, was HKD 25,673,000, a decrease of 36.5% compared to HKD 40,209,000 in the same period of 2022[15] - The net cash used in financing activities increased to HKD 36,594,000, compared to HKD 27,459,000 in the same period last year, reflecting a rise of 33.5%[15] - Cash and cash equivalents as of June 30, 2023, were approximately 42.5 million HKD, down from approximately 54.1 million HKD as of December 31, 2022[69] Dividends and Shareholder Information - The company has maintained a stable dividend policy, with dividends paid amounting to HKD 5,018,000 during the period[13] - The company did not recommend an interim dividend for the six months ended June 30, 2023, compared to an interim dividend of HKD 0.01 per share for the same period in 2022[35] - The company reported a total of 501,843,000 weighted average ordinary shares for both the six months ended June 30, 2023, and June 30, 2022, indicating no change in share count[38] Strategic Initiatives - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming periods[11] - A new subsidiary focused on marketing and sales was established in Hong Kong, along with the hiring of two experienced senior staff to enhance business capabilities[54] - The company signed a contract with a well-known European chocolate manufacturer to become its official distributor in Hong Kong and Macau[54] - The company is investing in semi-automated machinery and developing a new ERP system to enhance efficiency and competitiveness[57] - The company has rented a new warehouse in Macau to meet growing sales demands and new brand distribution[57] Management Outlook - Management holds a cautious outlook for the second half of 2023 due to ongoing inflation and interest rate hikes, but is preparing for potential opportunities[58] Compliance and Governance - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the reporting period[22] - There were no significant impacts from the recent accounting policy changes on the financial performance or position of the company[22] - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO[94] - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited interim results for the six months ending June 30, 2023[95]
环宇物流(亚洲)(06083) - 2023 - 中期财报