越南制造加工出口(00422) - 2023 Q3 - 季度业绩

Announcements and General Information This section outlines company information, board composition, and the reporting basis for the unaudited consolidated results Company Information This section provides company identification and the reporting period for the unaudited consolidated results - Company Name: Vietnam Manufacturing and Export Processing (Holdings) Limited[1][9][12] - Stock Code: 422[1] - Reporting Period: Unaudited consolidated results for the nine months ended September 30, 2023[9][12] Board Composition The company's Board of Directors comprises nine members, including three executive, three non-executive, and three independent non-executive directors - Board members include: Mr. Lau Mo Hung, Ms. Ng Shui Kiu, Mr. Lam Chun Yu (Executive Directors); Ms. Ng Lai Chu, Mr. Chan Yuk Bun, Mr. Lau Yu Shing (Non-executive Directors); Ms. Lam Ching Ching, Mr. Cheung On Kit, Ms. Ng Wai Lan (Independent Non-executive Directors)[13] Disclaimer and Basis of Reporting Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited disclaim responsibility for this announcement, prepared under IFRS with consistent accounting policies - Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited are not responsible for the content, accuracy, or completeness of this announcement[11] - This announcement is published in accordance with Rule 13.09 of the Listing Rules of The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)[12] - The third-quarter results are prepared in accordance with all applicable International Financial Reporting Standards issued by the International Accounting Standards Board, adopting the same accounting policies as the previous annual report for the year ended December 30, 2022[28] Financial Highlights This section provides a concise overview of the Group's key financial performance indicators for the reporting period Key Financial Indicators For the nine months ended September 30, 2023, revenue declined, but gross profit and net profit after tax significantly increased, reversing the prior year's loss Financial Summary (For the nine months ended September 30) | Indicator (USD Million) | 2023 (Unaudited) | 2022 (Unaudited) | Change | | :-------------------- | :--------------- | :--------------- | :----- | | Total Revenue | 89.2 | 95.9 | (6.7) | | Gross Profit | 13.0 | 9.1 | 3.9 | | Net Profit/(Loss) After Tax | 3.5 | (0.6) | 4.1 | - Total revenue decreased by 6.99% year-on-year, from USD 95.9 million to USD 89.2 million[23] - Gross profit increased by 42.86% year-on-year, from USD 9.1 million to USD 13.0 million[23] - Net profit after tax improved significantly by USD 4.1 million, turning from a USD 0.6 million loss in the prior year to a USD 3.5 million profit in 2023[23] Unaudited Consolidated Statement of Profit or Loss and Other Comprehensive Income This section presents the Group's unaudited consolidated financial performance, detailing revenue, expenses, and comprehensive income for the period Profit or Loss Section For the nine months ended September 30, 2023, revenue declined, but gross profit significantly increased due to lower cost of sales, leading to a pre-tax profit of USD 3.53 million Consolidated Statement of Profit or Loss (For the nine months ended September 30) | Indicator (USD) | 2023 | 2022 | Change (YoY) | | :-------------- | :--------- | :--------- | :----------- | | Revenue | 89,217,542 | 95,879,827 | (6,662,285) | | Cost of Sales | (76,219,985) | (86,814,717) | 10,594,732 | | Gross Profit | 12,997,557 | 9,065,110 | 3,932,447 | | Other Income | 601,430 | 785,358 | (183,928) | | Operating Profit/(Loss) | 2,933,684 | (293,751) | 3,227,435 | | Profit/(Loss) Before Tax | 3,531,099 | (616,082) | 4,147,181 | | Profit/(Loss) for the Period | 3,524,251 | (619,938) | 4,144,189 | - Revenue decreased by approximately 6.95% from USD 95,879,827 in the prior year to USD 89,217,542 in 2023[2] - Gross profit increased by approximately 43.38% from USD 9,065,110 in the prior year to USD 12,997,557 in 2023[25] - Profit for the period turned from a USD 619,938 loss in the prior year to a USD 3,524,251 profit in 2023[14] Other Comprehensive Income Section Other comprehensive income significantly improved in 2023, driven by reduced negative exchange differences on foreign operations translation, shifting total comprehensive income from loss to profit Statement of Other Comprehensive Income (For the nine months ended September 30) | Indicator (USD) | 2023 | 2022 | Change (YoY) | | :-------------- | :---------- | :---------- | :----------- | | Exchange differences on translation of foreign operations | (1,697,434) | (2,109,553) | 412,119 | | Total Comprehensive Income for the Period | 1,826,817 | (2,729,491) | 4,556,308 | - Exchange differences on translation of foreign operations improved from a negative USD 2,109,553 in the prior year to a negative USD 1,697,434 in 2023[26] - Total comprehensive income for the period turned from a USD 2,729,491 loss in the prior year to a USD 1,826,817 profit in 2023[16] Unaudited Consolidated Statement of Financial Position This section outlines the Group's financial position, detailing assets, liabilities, and equity as of September 30, 2023, and December 31, 2022 Assets As of September 30, 2023, total assets decreased compared to December 31, 2022, primarily due to reductions in current assets like inventories, trade receivables, and cash Consolidated Assets (As of September 30, 2023 vs. December 31, 2022) | Asset Category (USD) | September 30, 2023 | December 31, 2022 | Change | | :------------------- | :----------------- | :---------------- | :--------- | | Non-current Assets | 8,547,702 | 8,971,515 | (423,813) | | Current Assets | 104,323,859 | 118,048,536 | (13,724,677) | | Inventories | 22,970,330 | 25,951,818 | (2,981,488) | | Trade and Other Receivables and Prepayments | 30,945,601 | 36,799,492 | (5,853,891) | | Cash and Bank Balances | 50,407,928 | 55,297,226 | (4,889,298) | - Total current assets decreased by approximately USD 13.72 million, mainly due to reductions in inventories, trade and other receivables, and cash and bank balances[20] Liabilities As of September 30, 2023, the Group's total liabilities significantly decreased compared to December 31, 2022, primarily due to a substantial reduction in trade and other payables Consolidated Liabilities (As of September 30, 2023 vs. December 31, 2022) | Liability Category (USD) | September 30, 2023 | December 31, 2022 | Change | | :------------------- | :----------------- | :---------------- | :--------- | | Current Liabilities | 57,909,815 | 73,765,269 | (15,855,454) | | Trade and Other Payables | 16,643,996 | 32,235,625 | (15,591,629) | | Bank Loans | 39,865,261 | 40,210,386 | (345,125) | | Non-current Liabilities | 2,252,183 | 2,372,036 | (119,853) | - Trade and other payables significantly decreased by approximately USD 15.59 million, being the primary driver for the reduction in total current liabilities[20] Equity As of September 30, 2023, total equity attributable to equity holders and total equity both increased compared to December 31, 2022, primarily due to increased reserves Consolidated Equity (As of September 30, 2023 vs. December 31, 2022) | Equity Category (USD) | September 30, 2023 | December 31, 2022 | Change | | :-------------------- | :----------------- | :---------------- | :-------- | | Share Capital | 1,162,872 | 1,162,872 | 0 | | Reserves | 51,542,385 | 49,715,564 | 1,826,821 | | Total Equity Attributable to Equity Holders of the Company | 52,705,257 | 50,878,436 | 1,826,821 | | Total Equity | 52,709,563 | 50,882,746 | 1,826,817 | - Total equity increased by approximately USD 1.83 million, primarily attributable to an increase in reserves[7] Unaudited Condensed Consolidated Statement of Cash Flows This section presents the Group's unaudited condensed consolidated cash flows, categorizing cash movements from operating, investing, and financing activities Cash Flow Analysis For the nine months ended September 30, 2023, operating cash flow turned negative, investing cash flow became positive, and financing cash flow turned negative, resulting in a net decrease in cash and cash equivalents Consolidated Statement of Cash Flows (For the nine months ended September 30) | Cash Flow Category (USD) | 2023 | 2022 | Change (YoY) | | :----------------------- | :---------- | :---------- | :----------- | | Net Cash (Used in)/From Operating Activities | (3,261,498) | 3,545,699 | (6,807,197) | | Net Cash From/(Used in) Investing Activities | 4,880,648 | (1,820,541) | 6,701,189 | | Net Cash (Used in)/From Financing Activities | (1,995,747) | 3,173,341 | (5,169,088) | | Net (Decrease)/Increase in Cash and Cash Equivalents | (376,597) | 4,898,499 | (5,275,096) | | Cash and Cash Equivalents at End of Period | 8,463,484 | 13,406,294 | (4,942,810) | - Cash flow from operating activities shifted from a net inflow of USD 3,545,699 in the prior year to a net outflow of USD 3,261,498 in 2023[8] - Cash flow from investing activities shifted from a net outflow of USD 1,820,541 in the prior year to a net inflow of USD 4,880,648 in 2023[8] - Cash flow from financing activities shifted from a net inflow of USD 3,173,341 in the prior year to a net outflow of USD 1,995,747 in 2023[8]