Financial Performance - The Group recorded a turnover of approximately HK$315.8 million for the six months ended 30 June 2022, representing an increase of approximately HK$193.2 million compared to the same period last year[4]. - Revenue for the first half of 2022 was HK$136,413,000, a significant increase of 170% compared to HK$50,500,000 in the same period of 2021[14]. - Total revenue for the six months ended June 30, 2022, reached HK$315,840,000, compared to HK$122,571,000 for the same period in 2021, marking an increase of 158%[97]. - Profit for the period reached HK$2,278,000, compared to HK$359,000 in the previous year, indicating a substantial growth in profitability[14]. - The Group recorded a profit attributable to the owners of the Company of approximately HK$3.2 million for the six months ended 30 June 2022, an increase of approximately HK$2.8 million compared to HK$0.4 million for the same period last year[4]. - The total operating profit for the six months ended June 30, 2022, was HK$6,091, compared to HK$554 in the same period of 2021, representing a substantial increase[77]. - The company reported a profit before income tax of HK$6,332 for the six months ended June 30, 2022, compared to HK$830 in the same period of 2021, reflecting a growth of 663%[77]. Profitability Metrics - The gross profit margin of the Group decreased to approximately 5.4% for the six months ended 30 June 2022, down from approximately 8.2% for the same period in 2021[4]. - Gross profit for the period was HK$8,358,000, up from HK$5,492,000 in 2021, reflecting a gross margin improvement[14]. - Basic earnings per share for the six months ended 30 June 2022 was HK$13.62, compared to HK$1.61 for the same period in 2021, reflecting an increase of 746%[114]. - The company reported a basic and diluted earnings per share of 9.72 HK cents, compared to 1.53 HK cents in the same period last year[16]. Revenue Breakdown - Revenue from external customers for the six months ended June 30, 2022, was HK$315,840, a significant increase from HK$122,571 in the same period of 2021, representing a growth of 158%[77]. - Revenue from sales and distribution of IT products accounted for approximately 98.8% of the Group's total revenue, driven by increased demand and supply in the global secondary IT products market[155]. - Revenue from repairs and service support increased from approximately HK$1.3 million for the six months ended June 30, 2021, to approximately HK$3.7 million for the same period in 2022, primarily due to the expansion of IT product service support[156]. - The United States market contributed approximately 63.9% of the Group's revenue, up from 12.5% in the previous year, while Taiwan and Netherlands markets contributed 21.9% and 7.8%, respectively[165]. Expenses and Costs - The cost of sales was HK$128,055,000, which is significantly higher than HK$45,008,000 in the previous year, reflecting increased operational costs[14]. - Administrative expenses were HK$3,790,000, slightly down from HK$3,838,000 in 2021, indicating cost control efforts[14]. - Selling and distribution expenses increased to approximately HK$3.7 million, primarily driven by staff costs and commissions[169]. - Income tax expenses for the six months ended June 30, 2022, amounted to HK$3,140,000, compared to HK$453,000 for the same period in 2021, indicating a substantial increase[107]. Assets and Liabilities - Total assets as of June 30, 2022, were HK$174,287,000, down from HK$223,948,000 at the end of 2021, showing a decrease in total assets[18]. - Total liabilities decreased from HK$77,942,000 as of December 31, 2021, to HK$25,821,000 as of June 30, 2022, representing a reduction of approximately 66.9%[20]. - Current liabilities, including trade and other payables, decreased from HK$73,003,000 to HK$10,773,000, a decline of about 85.3%[20]. - Cash and cash equivalents increased to HK$121,071,000 from HK$98,850,000, indicating improved liquidity[18]. Market and Business Strategy - The Group plans to continue expanding its market presence and investing in new technologies to drive future growth[73]. - The Group is focusing on the growth of the repairs and service support segment, which has a relatively high profit margin and significant growth potential[181]. - The Group aims to improve inventory turnover days and mitigate inventory risk to shorten the cash conversion cycle[145]. - The Group has partnered with international brands for trade-in programs for used smart devices, broadening supplier channels and driving revenue growth[144]. Financial Risks and Management - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[42]. - The Group's financial risk management policies have not changed since year-end[42]. - The significant judgements made by management in applying the Group's accounting policies were the same as those that applied to the consolidated financial statements for the year ended December 31, 2021[42]. Shareholder Information - The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2022, consistent with the previous year[4]. - As of 30 June 2022, Foxconn (Far East) Limited held 11,853,524 shares, representing approximately 50.58% of the issued share capital of the Company[198]. - No Directors or chief executives had any interests or short positions in shares or debentures of the Company as of 30 June 2022[194].
讯智海(08051) - 2022 - 中期财报