Financial Performance - The group's revenue for the six months ended December 31, 2023, was approximately HKD 306,417,000, representing a 16% increase compared to HKD 265,148,000 in the same period last year[4]. - Operating profit increased significantly to HKD 22,036,000 from HKD 4,407,000 year-on-year, reflecting improved sales and operational efficiency[4][6]. - Profit attributable to the company's equity holders surged to HKD 22,274,000, up from HKD 4,031,000 in the previous year, marking a substantial increase[4][6]. - Revenue from external customers reached HKD 306,417,000 for the six months ended December 31, 2023, compared to HKD 265,148,000 for the same period in 2022, representing a growth of 15.6%[32]. - Operating profit for the group was HKD 22,036,000, a significant increase from HKD 4,407,000 in the previous year, marking a rise of 397.5%[32]. - The group reported a net profit of HKD 22,274,000 for the period, compared to HKD 4,031,000 in the prior year, reflecting a growth of 452.5%[32]. - Basic earnings per share increased to HKD 10.50 for the six months ended December 31, 2023, compared to HKD 1.90 in the same period of 2022[44]. Sales and Market Performance - Sales in the carpet business reached approximately HKD 299,000,000, a 17% increase from HKD 256,000,000, with Asia showing a robust growth of 38%[7]. - The increase in trade receivables suggests a growing sales volume, which may indicate positive market demand[46]. Cost and Profitability - The gross profit margin improved by 5% to 62%, driven by normalized freight costs and a favorable sales mix[5]. - Financing income increased to HKD 2,768,000 in 2023 from HKD 1,455,000 in 2022, while financing costs rose to HKD 2,054,000 from HKD 1,519,000, resulting in a net financing income of HKD 714,000 compared to a loss of HKD 64,000 in the previous year[38]. - The total income tax expense for the six months ended December 31, 2023, was HKD 476,000, up from HKD 312,000 in 2022[41]. Capital Expenditures and Assets - Capital expenditures for the period amounted to approximately HKD 9,000,000, up from HKD 4,000,000 in the previous year[13]. - Capital expenditures for the six months totaled HKD 8,633,000, compared to HKD 3,572,000 in the same period last year, indicating an increase of 141.5%[32]. - Total assets increased to HKD 802,192,000 as of December 31, 2023, compared to HKD 792,867,000 as of June 30, 2023, reflecting a growth of 1.6%[25]. - Total equity rose to HKD 439,637,000, up from HKD 428,594,000, indicating an increase of 2.4%[27]. Cash and Liquidity - As of December 31, 2023, the group had cash and cash equivalents totaling approximately HKD 222,000,000, with no bank borrowings[14]. - The group’s cash and cash equivalents decreased to HKD 193,697,000 from HKD 217,657,000, a decline of 11.0%[25]. - Inventory levels increased to HKD 49,591,000 from HKD 46,418,000, representing a rise of 4.7%[25]. - Trade and other receivables rose to HKD 109,279,000, up from HKD 91,618,000, indicating an increase of 19.2%[25]. - The group’s total liabilities decreased slightly to HKD 362,555,000 from HKD 364,273,000, a reduction of 0.5%[27]. Dividend and Retained Earnings - The company did not recommend the payment of an interim dividend for this period, consistent with the previous year[12]. - The company did not declare any interim dividend for the period, maintaining retained earnings of approximately HKD 522,359,000 as of December 31, 2023, down from HKD 550,902,000 in 2022[42]. Corporate Governance - The company maintained compliance with the corporate governance code and did not repurchase any shares during the reporting period[50][52]. - The company plans to maintain its long-term strategic direction, including expanding its production base in the U.S. and enhancing brand influence in trade and consumer markets[11].
TAI PING CARPET(00146) - 2024 - 中期业绩