Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 101,554,000, a decrease of 17.4% compared to HKD 122,928,000 for the same period in 2022[4] - Gross profit for the six months ended June 30, 2023, was HKD 25,412,000, down 23.5% from HKD 33,247,000 in the previous year[4] - The company reported a net loss of HKD 365,000 for the three months ended June 30, 2023, compared to a profit of HKD 3,546,000 in the same period of 2022[4] - For the six months ended June 30, 2023, the company reported a net loss of HKD 7,566,000 from operating activities, compared to a net cash inflow of HKD 20,612,000 in the same period of 2022[16] - The company reported a net loss attributable to shareholders of HKD 1,119,000 for the six months ended June 30, 2023, compared to a profit of HKD 5,659,000 in the same period of 2022[37] - The net profit attributable to the company's owners for the period was approximately HKD 1.1 million, down from HKD 5.7 million in the same period of 2022[62] Revenue Breakdown - Revenue from bonding wires for the six months ended June 30, 2023, was HKD 52,614,000, down 12.5% from HKD 60,300,000 in the same period of 2022[24] - Revenue from packaging adhesives for the six months ended June 30, 2023, decreased by 17.4% to HKD 45,555,000 from HKD 55,150,000 in the same period of 2022[24] - Revenue from customers in mainland China (excluding Hong Kong) for the six months ended June 30, 2023, was HKD 101,061,000, down 17.2% from HKD 122,055,000 in the same period of 2022[27] Expenses and Costs - The company’s administrative expenses for the six months ended June 30, 2023, were HKD 16,931,000, an increase of 6.4% from HKD 15,905,000 in the previous year[4] - The total financing costs for the six months ended June 30, 2023, amounted to HKD 1,429,000, an increase of 75.0% compared to HKD 817,000 for the same period in 2022[30] - The company’s interest expense on trust receipt loans increased to HKD 724,000 for the six months ended June 30, 2023, compared to HKD 240,000 in the same period of 2022, reflecting a significant rise of 201.7%[30] - The total employee costs for the six months ended June 30, 2023, were HKD 18,196,000, slightly down by 2.7% from HKD 18,695,000 in the same period of 2022[34] Assets and Liabilities - Total assets as of June 30, 2023, were HKD 197,513,000, an increase from HKD 181,580,000 as of December 31, 2022[9] - The company’s total liabilities increased to HKD 103,460,000 as of June 30, 2023, compared to HKD 70,139,000 at the end of 2022[11] - The company’s total equity as of June 30, 2023, was HKD 219,462,000, a decrease from HKD 240,009,000 as of June 30, 2022[13] - Trade receivables as of June 30, 2023, were HKD 66,335,000, an increase from HKD 61,376,000 as of December 31, 2022[41] - The company recorded bank borrowings of HKD 51.4 million as of June 30, 2023, compared to HKD 26.3 million as of December 31, 2022[48] Cash Flow - The company experienced a significant increase in financing cash flow, reporting a net cash inflow of HKD 23,016,000 for the six months ended June 30, 2023, compared to a net cash outflow of HKD 4,871,000 in the same period of 2022[16] - The company's cash and cash equivalents increased to HKD 41,553,000 as of June 30, 2023, compared to HKD 21,070,000 at the end of 2022[9] - The company's cash and cash equivalents decreased by HKD 4,794,000, ending at HKD 29,164,000 as of June 30, 2023, compared to HKD 24,550,000 at the end of the same period in 2022[16] Corporate Actions and Governance - The company did not declare an interim dividend for the year ending December 31, 2023, compared to an interim dividend of HKD 0.0031 per share for the six months ended June 30, 2022[36] - The company has not granted any share options under the share option scheme since its adoption on May 8, 2018[107] - 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 at this time[110] - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited consolidated results for the period and confirmed compliance with applicable accounting standards and GEM listing rules[117] Strategic Initiatives - The company plans to launch three new series of die attach adhesives, including epoxy insulation adhesive, silicone insulation adhesive, and conductive silver adhesive for LEDs, to capture growth opportunities in the 5G industry[65] - The company is expanding its customer base from commercial to consumer markets, aiming to include home electronics in its product applications[66] - The company will continue to implement various cost control measures to improve economic efficiency and maintain long-term business growth[66] - The company plans to utilize the remaining unutilized proceeds for various strategic initiatives, including R&D and production capacity expansion, with a revised timeline due to market conditions[94] Research and Development - The company has engaged external consultants for R&D projects, including experts from Anhui University and National Cheng Kung University, to assist in new product development[90] - The company has acquired intellectual property related to bonding wires and packaging adhesives over the past three years to enhance its product offerings[90] - The company has invested in upgrading production facilities and machinery since 2019 to meet customer order demands, with significant investments in quality control equipment[87] Market Outlook - The global semiconductor equipment sales are expected to rebound to $87.4 billion in 2023 after a projected decline of 18.6%[63]
骏码半导体(08490) - 2023 - 中期财报