越南制造加工出口(00422) - 2023 Q1 - 季度业绩

Announcement and Financial Highlights This section provides an overview of the company's announcement and key financial highlights for the period Company Information and Announcement Context Vietnam Manufacturing and Export Processing (Holdings) Limited announced its unaudited Q1 2023 results, complying with HKEX listing rules and SFO - Company Name: Vietnam Manufacturing and Export Processing (Holdings) Limited (Stock Code: 422)[1] - Announcement Purpose: To publish unaudited consolidated results for the three months ended March 31, 2023, in compliance with HKEX Listing Rule 13.09 and Part XIVA of the Securities and Futures Ordinance (Cap. 571)[10] - Board Composition: Comprises three executive directors, three non-executive directors, and three independent non-executive directors[3] High-Level Financial Summary Net profit after tax for Q1 2023 significantly increased to $1.62 million, driven by higher gross profit despite modest revenue growth | Indicator (million USD) | Three Months Ended March 31 (2023) | Three Months Ended March 31 (2022) | Change (million USD) | | :---------------------- | :--------------------------------- | :--------------------------------- | :------------------- | | Total Revenue | 28.30 | 28.13 | 0.17 | | Gross Profit | 3.39 | 2.45 | 0.94 | | Net Profit After Tax | 1.62 | 0.53 | 1.09 | Unaudited Consolidated Financial Statements This section presents the unaudited consolidated financial statements, including profit or loss, financial position, and cash flows Unaudited Consolidated Statement of Profit or Loss and Other Comprehensive Income The group's Q1 2023 profitability significantly improved, turning an operating loss into a profit, with profit before tax and period profit more than doubling Profit or Loss Details This section provides a detailed breakdown of the group's profit or loss components for the period | Indicator (USD) | Three Months Ended March 31 (2023) | Three Months Ended March 31 (2022) | Year-over-Year Change (USD) | Year-over-Year Change (%) | | :----------------------------------- | :--------------------------------- | :--------------------------------- | :-------------------------- | :------------------------ | | Revenue | 28,296,332 | 28,128,404 | 167,928 | 0.60% | | Cost of Sales | (24,902,305) | (25,674,159) | 771,854 | -3.01% | | Gross Profit | 3,394,027 | 2,454,245 | 939,782 | 38.29% | | Results from Operating Activities | 403,498 | (449,068) | 852,566 | N/A | | Net Finance Income | 1,261,335 | 1,007,459 | 253,876 | 25.20% | | Profit Before Tax | 1,615,694 | 533,171 | 1,082,523 | 203.03% | | Profit for the Period (After Tax) | 1,615,694 | 533,171 | 1,082,523 | 203.03% | - Operating results significantly improved from a loss of $449,068 in 2022 to a profit of $403,498 in 2023[4] Other Comprehensive Income and Attributable Profit This section details the group's other comprehensive income and profit attributable to equity holders | Indicator (USD) | Three Months Ended March 31 (2023) | Three Months Ended March 31 (2022) | Year-over-Year Change (USD) | Year-over-Year Change (%) | | :-------------------------------------------------------- | :--------------------------------- | :--------------------------------- | :-------------------------- | :------------------------ | | Exchange differences on translation of foreign operations | (197,713) | 159,306 | (357,019) | -224.11% | | Total Comprehensive Income for the Period | 1,417,981 | 692,477 | 725,504 | 104.77% | | Profit for the period attributable to equity holders of the Company | 1,615,698 | 533,175 | 1,082,523 | 203.03% | | Total comprehensive income for the period attributable to equity holders of the Company | 1,417,985 | 692,481 | 725,504 | 104.77% | - Total comprehensive income for the period more than doubled to $1.42 million, driven by improved profit despite negative foreign currency translation differences from overseas operations[13] - The group's Q1 results were prepared in accordance with all applicable International Financial Reporting Standards (IFRS) issued by the IASB, adopting the same accounting policies as the annual report for the year ended December 31, 2022[13] Unaudited Consolidated Statement of Financial Position The group's net assets increased as of March 31, 2023, driven by higher net current assets due to a significant reduction in current liabilities Assets and Liabilities This section outlines the group's assets and liabilities as of the reporting date | Indicator (USD) | As of March 31, 2023 | As of December 31, 2022 | Change (USD) | Change (%) | | :------------------------------- | :------------------- | :---------------------- | :----------- | :--------- | | Non-current Assets | 8,948,018 | 8,971,515 | (23,497) | -0.26% | | Current Assets | 115,083,297 | 118,048,536 | (2,965,239) | -2.51% | | - Cash and bank balances | 50,554,101 | 55,297,226 | (4,743,125) | -8.58% | | Current Liabilities | 69,363,154 | 73,765,269 | (4,402,115) | -5.97% | | - Trade and other payables | 28,041,317 | 32,235,625 | (4,194,308) | -13.01% | | - Bank loans | 40,051,640 | 40,210,386 | (158,746) | -0.39% | | Net Current Assets | 45,720,143 | 44,283,267 | 1,436,876 | 3.24% | | Total Assets Less Current Liabilities | 54,668,161 | 53,254,782 | 1,413,379 | 2.65% | - Current liabilities significantly decreased, particularly trade and other payables and bank loans, leading to an increase in net current assets[14] Equity and Reserves This section presents the group's equity and reserves as of the reporting date | Indicator (USD) | As of March 31, 2023 | As of December 31, 2022 | Change (USD) | Change (%) | | :-------------------------------------------------------- | :------------------- | :---------------------- | :----------- | :--------- | | Non-current Liabilities | 2,367,434 | 2,372,036 | (4,602) | -0.19% | | Net Assets | 52,300,727 | 50,882,746 | 1,417,981 | 2.79% | | Reserves | 51,133,549 | 49,715,564 | 1,417,985 | 2.85% | | Total Equity attributable to equity holders of the Company | 52,296,421 | 50,878,436 | 1,417,985 | 2.79% | | Total Equity | 52,300,727 | 50,882,746 | 1,417,981 | 2.79% | - The group's net assets and total equity increased by approximately 2.79% from December 31, 2022, to March 31, 2023, primarily due to an increase in reserves[15] Unaudited Condensed Consolidated Cash Flow Statement Net cash used in operating activities significantly increased for Q1 2023, resulting in a net decrease in cash and cash equivalents | Indicator (USD) | Three Months Ended March 31 (2023) | Three Months Ended March 31 (2022) | Year-over-Year Change (USD) | | :------------------------------------------------ | :--------------------------------- | :--------------------------------- | :-------------------------- | | Net cash used in operating activities | (4,301,802) | (1,109,966) | (3,191,836) | | Net cash from/(used in) investing activities | 1,103,589 | (1,443,202) | 2,546,791 | | Net cash from/(used in) financing activities | (705,661) | 1,457,769 | (2,163,430) | | Net decrease in cash and cash equivalents | (3,903,874) | (1,095,399) | (2,808,475) | | Cash and cash equivalents at end of period | 6,237,046 | 9,568,599 | (3,331,553) | - Cash and cash equivalents at period-end decreased by approximately 34.8% year-over-year[16]