Financial Performance - For the six months ended June 30, 2022, the revenue was approximately HKD 134.67 million, an increase of about 39.01% compared to HKD 96.88 million for the same period in 2021[10] - The profit attributable to owners of the company for the same period was approximately HKD 3.58 million, compared to a loss of HKD 1.23 million in the previous year[10] - Basic earnings per share for the six months ended June 30, 2022, was approximately HKD 2.58 cents, compared to a basic loss per share of HKD 0.12 cents for the same period in 2021[10] - Gross profit for the six months was approximately HKD 35.77 million, up from HKD 25.92 million in the previous year, reflecting a gross margin improvement[11] - The company reported a net profit of HKD 3,871,000 for the six months ended June 30, 2022, compared to a net loss of HKD 1,232,000 in the same period of 2021[16] - The company reported a pre-tax profit of approximately HKD 3.87 million for the six months ended June 30, 2022, compared to HKD 1.23 million in 2021, reflecting a significant increase[29] Revenue Breakdown - Revenue from Indonesia was HKD 79,143,000 for the six months ended June 30, 2022, a 23% increase from HKD 64,273,000 in the same period of 2021[25] - The revenue from finished watches was HKD 109.38 million for the six months ended June 30, 2022, compared to HKD 53.26 million in 2021, representing a 105% increase[26] - The group's revenue for the six months ended June 30, 2022, was approximately HKD 134.67 million, an increase of about 39.01% compared to the same period in 2021[44] Asset and Liability Management - Total assets as of June 30, 2022, were approximately HKD 171.98 million, compared to HKD 137.57 million at the end of 2021, showing growth in asset base[12] - Current liabilities increased to HKD 182.80 million as of June 30, 2022, from HKD 158.91 million at the end of 2021, indicating potential liquidity challenges[12] - The company reported a net current liability of HKD 10.82 million, an improvement from HKD 21.35 million in the previous year[12] - The company's net asset value increased to HKD 46,460,000 as of June 30, 2022, up from HKD 38,970,000 at the end of 2021, reflecting a growth of 19%[14] Cash Flow and Financing - The company's net cash from operating activities for the six months ended June 30, 2022, was HKD 2,228,000, compared to a net cash outflow of HKD 9,752,000 in the same period of 2021[18] - Financing activities generated a net cash inflow of HKD 8,961,000 for the six months ended June 30, 2022, compared to HKD 3,221,000 in the same period of 2021[18] - Cash and cash equivalents increased to HKD 13,479,000 as of June 30, 2022, from HKD 9,350,000 at the end of 2021, marking a growth of 44%[18] Operational Insights - The company operates primarily in the ODM segment, focusing on the design, development, manufacturing, and distribution of watch products[23] - The company plans to continue expanding its market presence and developing new products to drive future growth[10] - The management expressed optimism about future performance, citing ongoing strategic initiatives and market opportunities[10] Shareholder and Governance - The company raised its share capital to HKD 15,000,000 as of June 30, 2022, from HKD 10,000,000 at the end of 2021, indicating a 50% increase[16] - As of June 30, 2022, the major shareholders, Mr. Chok and Mrs. Chok, hold 93,000,000 shares, representing 62% of the total shares of the company[65] - The beneficial ownership of shares by the associated corporation, Wan Yi, is also 93,000,000 shares, representing 62%[68] - The board believes that the current management structure, with Mr. Chok serving as both Chairman and CEO, is beneficial for the company's operations[76] Audit and Compliance - The Audit Committee was established on June 20, 2018, in accordance with GEM Listing Rules, with members including Mr. Yu Shou Ning, Mr. Zhao Zhi Peng, and Ms. Yu Hui Fang[79] - The Audit Committee's primary responsibilities include recommending the appointment and removal of external auditors, reviewing financial statements, and overseeing internal control procedures[79] - The interim report's financial data has not been audited but has been reviewed by the Audit Committee, which believes the performance is prepared in accordance with applicable accounting standards[79] Future Outlook - The group plans to focus on developing its core business and improving product design and development capabilities to maximize long-term returns for shareholders[46] - The interim report contains forward-looking statements based on various assumptions regarding the group's current and future business strategies and operating environment[80] - The forward-looking statements reflect the group's views on future events but are not guarantees of future performance and are subject to risks and uncertainties[80]
恒伟集团控股(08219) - 2022 - 中期财报