Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 122,928 thousand, a slight increase from HKD 122,290 thousand in the same period of 2021, representing a growth of 0.5%[4] - Gross profit for the six months ended June 30, 2022, was HKD 33,247 thousand, compared to HKD 26,545 thousand for the same period in 2021, reflecting a growth of 25.6%[4] - The net profit for the six months ended June 30, 2022, was HKD 5,659 thousand, an increase of 36.0% from HKD 4,163 thousand in the same period of 2021[4] - Basic earnings per share for the six months ended June 30, 2022, was HKD 0.80, compared to HKD 0.59 for the same period in 2021, an increase of 35.6%[7] - The company reported a gross margin of 27.0% for the six months ended June 30, 2022, compared to 21.7% for the same period in 2021, indicating an improvement of 5.3 percentage points[4] - The company reported a total comprehensive income of HKD 5,667 thousand for the six months ended June 30, 2022, compared to HKD 4,163 thousand for the same period in 2021[14] - The group reported a profit attributable to owners of approximately HKD 5.7 million, up from HKD 4.2 million in the same period last year[73] Assets and Liabilities - Total assets as of June 30, 2022, were HKD 256,241 thousand, a decrease from HKD 261,587 thousand as of December 31, 2021, indicating a decline of 2.5%[9] - Total liabilities decreased to HKD 16,232 thousand as of June 30, 2022, from HKD 18,402 thousand as of December 31, 2021, a decline of 11.8%[12] - The company’s non-current assets totaled HKD 130,602 thousand as of June 30, 2022, slightly down from HKD 132,036 thousand as of December 31, 2021, a decrease of 1.1%[9] - Trade receivables decreased to HKD 119,732 thousand as of June 30, 2022, from HKD 129,001 thousand as of December 31, 2021, representing a reduction of 7.5%[9] - The group’s bank borrowings decreased to HKD 20.3 million as of June 30, 2022, from HKD 23.6 million as of December 31, 2021[56] - Trade payables decreased to HKD 15.3 million as of June 30, 2022, from HKD 18.1 million as of December 31, 2021[54] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2022, was HKD 20,612 thousand, a significant improvement from a cash outflow of HKD 8,282 thousand in the same period of 2021[18] - The net cash used in investing activities was HKD 11,412 thousand for the six months ended June 30, 2022, compared to HKD 3,854 thousand in the same period of 2021[18] - Cash and cash equivalents increased to HKD 24,550 thousand as of June 30, 2022, from HKD 20,483 thousand at the beginning of the period[18] - The company has invested HKD 19.4 million in expanding capacity and upgrading production facilities, with no amount utilized as of June 30, 2022[124] - The company has allocated HKD 10.2 million for acquiring new intellectual property related to bonding wires, fully utilized by June 30, 2022[124] - The company has purchased equipment worth HKD 19.5 million to improve existing R&D facilities, with HKD 8.2 million utilized by June 30, 2022[124] - The company has engaged external consultants for R&D projects, with an expenditure of HKD 5.9 million, of which HKD 3.4 million has been utilized[124] Revenue Breakdown - The revenue from key products included HKD 60,300 thousand from bonding wires and HKD 55,150 thousand from packaging adhesives for the six months ended June 30, 2022[25] - Revenue from customers in mainland China (excluding Hong Kong) was HKD 122,055 thousand for the six months ended June 30, 2022, compared to HKD 120,899 thousand in the same period of 2021[28] - Revenue from bonding wire products decreased by 32.5% to approximately HKD 60.3 million, while revenue from packaging glue products surged by 94.0% to approximately HKD 55.2 million[67] Shareholder Information - As of June 30, 2022, the company has issued share capital of HKD 7,055,000, divided into 705,500,000 shares with a par value of HKD 0.01 each[137] - Mr. Zhou and Professor Zhou each hold 50.60% of the shares through BVI Holdings, which represents 357,000,000 shares[134] - The major shareholders include BVI Holdings with 50.60% and Chow Fung Wai Lan Rita with 50.67% due to spouse rights[134] - The company has a total of 16,050,000 shares held by Mr. Li, representing 2.27% of the issued share capital[134] Corporate Governance - The company has a clear governance structure with significant shareholding by its directors, ensuring alignment of interests[134] - The company has adhered to the corporate governance code as per GEM listing rules, ensuring a clear distinction between the roles of the chairman and the CEO, with no CEO appointed[144] - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited condensed consolidated results for the period and confirmed compliance with applicable accounting standards and GEM listing rules[150] Future Plans and Market Outlook - The group plans to continue focusing on developing advanced semiconductor materials suitable for electric vehicles, mini LED, artificial intelligence, and 5G communication industries[66] - The group plans to launch three new series of adhesive products for the semiconductor and 5G industries, including epoxy insulation adhesive and conductive silver adhesive for LEDs[76] - The global semiconductor equipment sales are expected to grow by approximately 14.7% to USD 115.7 billion in 2022, with further growth anticipated in 2023[75] - The group is actively exploring potential merger and acquisition opportunities to capitalize on the recovery and rapid development of the 5G industry[79]
骏码半导体(08490) - 2022 - 中期财报