VITASOY INT'L(00345) - 2025 - 中期业绩

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 3,443 million, representing a 2% increase from HKD 3,391 million in the same period last year[2]. - Gross profit increased to HKD 1,777 million, up 4% from HKD 1,712 million, with a gross margin of 51.6%, an increase of 1.1 percentage points[2]. - Operating profit surged by 50% to HKD 257 million, compared to HKD 171 million in the previous year[2]. - Net profit attributable to equity holders was HKD 176 million, a 6% increase from HKD 166 million, with basic earnings per share rising to 15.9 HKD cents from 15.2 HKD cents[4]. - EBITDA for the period was HKD 496 million, reflecting an 18% increase from HKD 422 million[2]. - The total comprehensive income for the period was HKD 230 million, compared to HKD 46 million in the previous year[7]. - Total revenue for the six months ended September 30, 2024, was HKD 3,536,800,000, an increase from HKD 3,490,702,000 for the same period in 2023, representing a growth of approximately 1.3%[19]. - Operating profit for the group increased to HKD 330,144,000 for the six months ended September 30, 2024, compared to HKD 257,530,000 for the same period in 2023, reflecting a growth of about 28.1%[19]. - The consolidated profit before tax for the six months ended September 30, 2024, was HKD 240,077, compared to HKD 157,600 for the same period in 2023, marking an increase of around 52.3%[21]. Assets and Liabilities - Cash and bank deposits (excluding bank loans) increased to HKD 2,855 million as of September 30, 2024, from HKD 2,247 million as of March 31, 2024[9]. - The total net assets as of September 30, 2024, amounted to HKD 3,277,427,000, an increase from HKD 3,112,637,000 as of March 31, 2024, representing a growth of approximately 5.3%[11]. - The total liabilities as of September 30, 2024, were HKD 1,922,598,000, compared to HKD 1,182,788,000 as of March 31, 2024, indicating an increase of approximately 62.6%[19]. - The total liabilities as of September 30, 2024, were HKD 2,806,842, an increase from HKD 2,524,058 as of March 31, 2024, representing a rise of approximately 11.2%[21]. - Accounts receivable and other receivables increased to HKD 1,019,492,000 as of September 30, 2024, from HKD 873,312,000 as of March 31, 2024[38]. - Accounts payable and other payables rose to HKD 1,958,249,000 as of September 30, 2024, compared to HKD 1,824,727,000 as of March 31, 2024[40]. - Bank loans due within one year amounted to HKD 311,944,000 as of September 30, 2024, up from HKD 255,987,000 as of March 31, 2024[42]. Dividends and Shareholder Returns - The company plans to maintain a stable annual dividend payout ratio, declaring an interim dividend of 4.0 HKD cents per share[2]. - The interim dividend declared for the period was HKD 42,924, compared to HKD 15,004 for the same period in 2023, indicating a significant increase[32]. - The company declared an interim dividend of HKD 0.04 per share, significantly higher than HKD 0.014 per share in the previous interim period[46]. Market Performance and Growth - The company experienced a 15% growth in online sales in mainland China, contributing to overall revenue stability[2]. - The company plans to continue expanding its market presence in Australia and New Zealand, where revenue for the six months ended September 30, 2024, was HKD 274,857,000, up from HKD 256,429,000 in 2023, marking a growth of about 7.2%[19]. - The company aims to maintain revenue growth and profitability in the second half of the fiscal year, focusing on execution, expansion, and innovation while managing costs and operational efficiency[73]. - The company is confident in the long-term potential of its product portfolio in the operating markets due to a strong business foundation[74]. - The company plans to enhance its core product portfolio's commercial execution in mainland China and increase new customer acquisition through new sales channels[75]. - In Hong Kong, the company will leverage its extensive sales channels and market leadership to maintain strong performance of core products while enhancing brand visibility and value[76]. - The company has fully restored production stability in Australia and New Zealand and plans to maintain revenue growth through new marketing initiatives[78]. - The company will continue to strengthen growth momentum in the tofu segment and improve profitability in the beverage business through collaboration with new distributors in Singapore[79]. Operational Efficiency - The operating profit margin improved significantly in mainland China, reaching 11% due to optimized production processes[2]. - The operating profit in mainland China increased by 16%, with an operating profit margin of 11%, driven by improved production efficiency and strict cost control[67]. - Sales in Hong Kong grew by 3%, supported by strong core business and consumer recognition of innovative products, leading to a 44% increase in operating profit due to rising revenue and lower raw material costs[70]. - Revenue from Australia and New Zealand increased by 6% in local currency, maintaining market leadership in soy and oat milk categories, despite an operating loss of HKD 46 million due to production issues and high logistics costs[71]. - Revenue from Singapore increased by 5% in local currency, with a significant reduction in operating loss by 78% to approximately SGD 400,000, driven by strong tofu exports and strict cost control[72]. Cost Management - The cost of goods sold for the six months ended September 30, 2024, was HKD 1,672,946, compared to HKD 1,685,409 in the same period of 2023, showing a decrease of approximately 0.7%[26]. - Interest expenses on bank loans for the six months ended September 30, 2024, were HKD 6,735, down from HKD 10,510 in the same period of 2023, showing a decrease of about 35.5%[23]. - The company reported a total employee cost of HKD 90,047 for the six months ended September 30, 2024, slightly up from HKD 89,381 in the same period of 2023, reflecting a marginal increase of 0.7%[26]. - Deferred tax expenses amounted to HKD 32,900,000, compared to a tax credit of HKD 38,700,000 in the previous year[60].