Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 3,568,564, a decrease of 14.7% compared to HKD 4,182,493 in the same period of 2022[2] - Gross profit for the same period was HKD 1,570,917, down 6.0% from HKD 1,671,286 year-on-year[2] - Operating profit decreased by 11.7% to HKD 689,565 from HKD 781,096 in the previous year[2] - Net profit attributable to shareholders was HKD 650,643, a decline of 7.0% compared to HKD 699,770 in 2022[2] - Basic earnings per share for the period was HKD 0.603, down 6.7% from HKD 0.646 in the prior year[2] - The group reported total revenue of HKD 3,568,564,000 for the six months ended June 30, 2023, a decrease of 14.7% compared to HKD 4,182,493,000 for the same period in 2022[13] - The group achieved an EBITDA of HKD 720,786,000, with a notable increase in profitability from the Chinese market, contributing HKD 473,363,000[16] - The group’s net profit for the period was HKD 659,614,000, down from HKD 703,786,000 in the same period last year[17] - Net profit for the period was HKD 659.6 million, a decline of 6.3% from HKD 703.8 million for the six months ended June 30, 2022[48] Assets and Liabilities - Total assets as of June 30, 2023, were HKD 8,958,231, a decrease of 5.6% from HKD 9,490,329 at the end of 2022[6] - Current assets totaled HKD 7,585,309, down 7.2% from HKD 8,173,014 at the end of 2022[6] - The group’s total assets as of June 30, 2023, amounted to HKD 8,958,231,000, while total liabilities were HKD 1,712,424,000[18] - Non-current assets as of June 30, 2023, totaled HKD 1,372,922,000, up from HKD 1,317,315,000 as of December 31, 2022[22] Revenue Breakdown - Revenue from the sale of electronic payment terminal products and services was HKD 3,444,446,000 and HKD 124,118,000 respectively, totaling HKD 3,568,564,000[13] - Revenue from the largest customer amounted to approximately HKD 638,197,000, representing 17.9% of total revenue, a decrease from 31.0% in the same period last year[21] - Revenue from the second largest customer was approximately HKD 303,135,000, accounting for 8.5% of total revenue, an increase from 4.8% year-on-year[21] - Revenue from the US and Canada (USCA) region increased by 20.2% to HKD 591,445,000, while revenue from Latin America and CIS (LACIS) and EMEA regions decreased by 18.0% and 19.1%, respectively[39] - Sales of electronic payment terminal products decreased by 15.8% to HKD 3,444,446,000 from HKD 4,090,955,000 in the previous year[40] Expenses and Costs - Total cost of goods sold for the six months ended June 30, 2023, was HKD 1,917,959,000, down from HKD 2,444,541,000 in the previous year[23] - Research and development expenses increased to HKD 306,873,000 from HKD 266,985,000 year-on-year[23] - Employee benefits expenses, including director remuneration, rose to HKD 483,834,000 from HKD 423,914,000 year-on-year[24] - The total income tax expense for the six months ended June 30, 2023, was HKD 30,059,000, significantly lower than HKD 76,425,000 in the previous year[25] - Selling expenses decreased by 7.1% from HKD 381.4 million to HKD 354.4 million, attributed to lower sales commissions and transportation costs[45] - Administrative expenses increased by 7.3% from HKD 541.3 million to HKD 581.0 million, primarily due to rising R&D costs and employee benefits[46] Cash Flow and Dividends - The company’s cash and cash equivalents were HKD 2,876,585, down from HKD 3,160,238 at the end of 2022[6] - The company declared an interim dividend of HKD 0.21 per share, totaling approximately HKD 225,464,000, compared to HKD 0.17 per share and HKD 183,341,000 for the same period in 2022[31] - The company repurchased a total of 6,800,000 ordinary shares at a total cost of approximately HKD 43,189,960 during the six months ended June 30, 2023[72] Corporate Strategy and Market Outlook - The company plans to continue focusing on the development and sales of electronic payment solutions, aiming for market expansion and technological advancements[8] - The company is focusing on enhancing its global presence and exploring acquisition opportunities to strengthen its sales network and innovative payment technologies[60] - The company aims to build stronger partnerships with international acquiring banks, payment service providers, and independent sales organizations to better serve customers[58] - In Latin America, the company is optimistic about long-term demand for payment processing and financial services in Brazil despite current economic challenges[54] - The global retail POS market is projected to grow from USD 16.2 billion in 2022 to USD 34.6 billion by 2030, with a compound annual growth rate (CAGR) of 13.5%[59] Governance and Compliance - The company has implemented corporate governance practices in accordance with the principles and code provisions of the Corporate Governance Code[76] - The audit committee reviewed the accounting principles and practices adopted by the company, ensuring compliance with risk management and financial reporting standards[77] - The company has adopted a written code for securities trading by directors and senior management, ensuring compliance with the standards set forth in the listing rules[74] Employee and Workforce - As of June 30, 2023, the total number of employees increased to 1,747 from 1,712 as of December 31, 2022, representing a growth of approximately 2.04%[67] - The employee count in R&D increased to 957 from 920, indicating a growth of 4.02%[68]
百富环球(00327) - 2023 - 中期业绩