Financial Performance - The company recorded revenue of approximately HKD 102.9 million for the six months ended June 30, 2022, compared to HKD 84.1 million for the same period in 2021, representing a year-on-year increase of approximately 22.5%[9] - The company reported a loss attributable to owners of approximately HKD 3.7 million for the six months ended June 30, 2022, compared to a profit of HKD 2.6 million for the same period in 2021[9] - Total revenue for the six months ended June 30, 2022, was HKD 119,995,000, a decrease from HKD 84,057,000 for the same period in 2021[41] - The company reported a loss before tax of HKD 3,874,000 for the six months ended June 30, 2022, compared to a profit of HKD 3,437,000 in the same period of 2021[61] - The company reported a basic loss per share of HKD (3,663) million for the six months ended June 30, 2022, compared to a profit of HKD 2,594 million in the same period of 2021[69] Profitability Metrics - The gross profit margin decreased from 13.5% for the six months ended June 30, 2021, to approximately 12.0% for the same period in 2022, a decline of about 1.5 percentage points[9] - The net loss margin for the six months ended June 30, 2022, was approximately 3.6%, a decrease of about 6.7 percentage points from the net profit margin of 3.1% for the same period in 2021[9] - Basic loss per share for the six months ended June 30, 2022, was approximately HKD 1.4 cents, compared to earnings of HKD 1.0 cent per share for the same period in 2021[9] - The gross profit margin for the six months ended June 30, 2022, was significantly impacted, with a reported gross loss of HKD 766,000[50] Cash Flow and Liquidity - The company reported a net cash inflow from operating activities of HKD 17,206,000 for the six months ended June 30, 2022[31] - Cash and cash equivalents amounted to approximately HKD 15.1 million as of June 30, 2022, compared to approximately HKD 14.0 million as of December 31, 2021[141] - Total cash outflow for the six months ended June 30, 2022, was HKD 8,635 million, an increase from HKD 6,897 million in the same period of 2021[75] - The company has maintained a prudent treasury policy, ensuring a stable liquidity position throughout the period[145] Assets and Liabilities - The company's total assets less current liabilities stood at HKD 577.3 million as of June 30, 2022, compared to HKD 596.8 million as of December 31, 2021[17] - The company’s cash and cash equivalents amounted to HKD 15.1 million as of June 30, 2022[17] - The total equity as of June 30, 2022, was HKD 575,847,000, with issued share capital remaining at HKD 2,600,000[25] - The company's total inventory decreased to HKD 52,115 million as of June 30, 2022, from HKD 70,178 million as of December 31, 2021, representing a reduction of approximately 25.7%[81] Operational Highlights - The company continues to focus on manufacturing and selling fiber optic and related products in Hong Kong and Thailand[32] - The company plans to enhance its product offerings and explore new technologies to drive future growth[46] - The company experienced an increase in other income to HKD 3.6 million for the six months ended June 30, 2022, from HKD 0.9 million in the same period in 2021[12] - The company recognized revenue of HKD 2,604,000 from contract liabilities during the period, compared to HKD 11,000 for the same period last year, indicating significant growth[92] Market and Industry Outlook - The company anticipates a demand surge in the optical fiber and cable market in the second half of 2022, driven by the large-scale deployment of 5G and gigabit optical networks[123] - The average industry price is expected to slightly increase after hitting a low, although rising raw material prices may pose challenges[123] - The company aims to enhance its cost control and competitiveness by exploring new sales opportunities in the optical fiber and cable industry chain[123] Expenses and Costs - Sales and distribution expenses increased from approximately HKD 1.2 million for the six months ended June 30, 2021, to approximately HKD 3.3 million for the six months ended June 30, 2022, representing an increase of approximately 175.0%[132] - Financing costs rose from approximately HKD 617,000 for the six months ended June 30, 2021, to approximately HKD 1,336,000 for the six months ended June 30, 2022, primarily due to increased interest on bank borrowings[136] - Tax expenses decreased from approximately HKD 843,000 for the six months ended June 30, 2021, to a tax credit of approximately HKD 211,000 for the six months ended June 30, 2022, a reduction of approximately 125.0%[137] Shareholder Returns - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2022, consistent with the previous year[9] - The company has not declared or paid any dividends for the interim period, consistent with the previous year[68]
高科桥(09963) - 2022 - 中期财报