Revenue Performance - The total revenue from the sales of bus bodies and kits for the six months ended April 30, 2022, was approximately $9.81 million, a decrease of about 38.5% compared to $15.95 million in the same period of 2021[18]. - Revenue from the sales of parts and related services was approximately $4.33 million, an increase of about 64.5% compared to $2.63 million in the same period of 2021[20]. - The company recorded revenue of approximately $14.14 million for the reporting period, a decrease of about 23.9% compared to $18.58 million in the same period last year, primarily due to supply chain disruptions caused by COVID-19 variants[25]. - Revenue from maintenance and after-sales services increased to $4.33 million, representing 30.6% of total revenue, compared to $2.63 million or 14.2% in the previous year[27]. - Revenue from bus body and kit sales decreased to $9,808,000 in 2022 from $15,948,000 in 2021, a decline of 38.5%[113]. - Total revenue for the six months ended April 30, 2022, was $14,138,000, down 23.6% from $18,581,000 in the same period of 2021[115]. Profitability - The gross profit for the reporting period was approximately $3.31 million, with a gross margin of about 23.4%, compared to a gross margin of approximately 16.6% in the previous year[30]. - Operating profit increased to $416,000, compared to $214,000 in the previous year, marking a 94.9% increase[97]. - The net profit attributable to equity holders for the period was $125,000, a turnaround from a loss of $114,000 in the same period last year[97]. - The company reported a profit of approximately $125,000 for the six months ended April 30, 2022, compared to a loss of $114,000 in the same period of 2021[134]. Market and Sales - The sales of bus bodies and kits contributed approximately 69.4% of the total revenue for the group during the reporting period[18]. - The group delivered a total of 84 complete buses and 29 fully assembled kits during the reporting period[15]. - The group delivered 32 complete buses to Australia, down from 47 in the previous year, and 9 fully assembled kits to Malaysia, down from 29 in the previous year[18]. - The group delivered 3 complete buses to Singapore, a significant decrease from 46 in the previous year[18]. - The company plans to expand its market presence in the United States and is focusing on the electric vehicle market, leveraging its experience in manufacturing electric buses[23]. Financial Position - The company’s cash and cash equivalents were approximately $3.16 million as of April 30, 2022, an increase from $1.43 million as of October 31, 2021[38]. - The company's bank borrowings increased by approximately 14.7% from $8.22 million on October 31, 2021, to $9.43 million on April 30, 2022[38]. - The asset-liability ratio increased from approximately 36% on October 31, 2021, to about 49% on April 30, 2022, primarily due to the issuance of convertible bonds during the reporting period[39]. - Total assets as of April 30, 2022, were $36,364,000, up from $28,412,000 as of October 31, 2021, indicating a 28.0% increase[98]. - Current liabilities increased to $22,124,000 from $17,213,000, reflecting a 28.0% rise[98]. Corporate Governance - The board believes that good corporate governance is essential for maintaining the company's success and has adopted high standards of governance[67]. - The company has complied with the corporate governance code and will continue to review and enhance its governance practices[68]. Shareholder Information - As of April 30, 2022, the total issued share capital of the company is 251,364,000 shares[71]. - Mr. Peng Zhongyong holds 82,078,125 shares, representing approximately 32.65% of the total issued share capital[71]. - The combined ownership of Mr. Peng Xinhua and Mr. Peng Zhongyong amounts to 91,052,250 shares, equivalent to about 36.22% of the total issued share capital[71]. - The company has a share option plan established on October 21, 2016, aimed at incentivizing eligible participants for their contributions[76]. Legal and Compliance - The company is facing a pending legal case with an outstanding amount of approximately $2.49 million related to a customer[51]. - The company has a commitment to invest RMB 1,500,000 in a joint venture, which is equivalent to approximately $227,000[173]. Future Outlook - The company provided a future outlook with a revenue growth guidance of 10-12% for the second half of 2022[191]. - The company is exploring potential acquisitions to enhance its product portfolio and market presence[191].
彭顺国际(06163) - 2022 - 中期财报