汇聚科技(01729) - 2023 - 中期财报

Financial Performance - For the six months ended 30 September 2022, the company reported revenue of HK$3,280.0 million, an increase of HK$1,539.5 million or 88.5% compared to HK$1,740.5 million for the same period last year[17]. - The gross profit for the period was HK$312.0 million, reflecting a slight increase of 1.2% from HK$308.4 million in the previous year[11]. - The total profit for the period was HK$91.3 million, showing a marginal decrease of 0.1% compared to HK$91.4 million in the same period last year[11]. - Basic earnings per share decreased by 6.0$128.6 million, a decrease of HK$29.2 million or 18.5$157.8 million in the same period last year[17]. - The company experienced a gross profit margin of 9.5%, down 8.2 percentage points from the previous year[11]. - The Group's adjusted profit for the period was HK$91.3 million, with an adjusted net profit margin of 2.8$91.3 million, a decrease of HK$0.1 million or 0.1$69.8 million or 24.7% to HK$352.7 million, driven by steady orders for 5G products[23]. - The medical equipment sector's revenue was HK$128.5 million, a slight increase of HK$2.5 million or 2.0$126.0 million in the previous year[23]. - Revenue from the industrial equipment sector decreased by HK$31.1 million or 52.1$28.6 million due to global inflation and increased borrowing costs[25]. - The data centre sector's revenue slightly decreased by HK$17.0 million or 4.5$358.0 million, maintaining high shipment levels[24]. - The server business contributed significantly, generating HK$1,530.9 million, accounting for 46.7$2,373,145, up from HK$857,157, indicating a growth of 176.5$1,530,925 for the six months ended September 30, 2022, compared to zero in the same period of 2021, marking a new revenue stream for the company[122]. Cost and Expenses - The average copper price during the reporting period was USD 8,594 per ton, a decrease of 9.8% compared to USD 9,531 per ton in the same period last year[13]. - The company adjusted selling prices to customers by 5% to 10% in May 2022 due to high material costs, including PVC and labor[13]. - Research and development expenses increased to HK$67.8 million, an increase of HK$10.4 million or 18.0% compared to the same period last year, with R&D expenses as a percentage of revenue decreasing from 3.3% to 2.1%[27]. - Total operating expenses were HK$169.8 million, an increase of HK$13.8 million or 8.9% compared to HK$156.0 million last year, with total operating expenses as a percentage of revenue decreasing from 9.0$9.7 million[33]. - Shareholders' funds decreased by HK$90.3 million or 8.6$960.9 million as of 30 September 2022, primarily due to RMB depreciation[50]. - The Group's bank loan decreased by HK$80.1 million or 7.5$982.1 million as of 30 September 2022, mainly due to repayment of a club loan for digital cable business acquisition[51]. - The Group declared a final dividend of HK$19,460,000 for the interim period ended 30 September 2022, compared to HK$27,606,000 for the same period in 2021[130]. Corporate Governance - The company has fully complied with the Corporate Governance Code during the six months ended September 30, 2022[83]. - The Audit Committee was established on January 24, 2018, with a focus on reviewing financial information and internal control procedures[83]. - All Directors have complied with the Model Code for securities transactions during the six months ended September 30, 2022[83]. - The company emphasizes good corporate governance practices to enhance shareholder value[83]. Market Outlook - The management remains confident in capturing market opportunities with the arrival of the 5G network, supported by the group's enlarged production capacity and established business fundamentals[44]. - The demand for cable assembly products is expected to increase due to the rapid development and deployment of 5G technology[45]. - Future outlook remains positive with expectations of continued revenue growth driven by new product launches and market expansion strategies[123]. Acquisitions and Investments - The company acquired 100% of Time Interconnect Wire Technology Limited for a cash consideration of HK$69,000,000, completed on August 31, 2021[166]. - The acquisition resulted in a gain on bargain purchase of HK$3,201,000 due to the fair value of net assets acquired exceeding the consideration paid[167]. - The Group completed the acquisition of GP Industries Limited on August 31, 2021, which is detailed in note 17[183]. Employee Information - Total employee benefit expenses, including Directors' remuneration, were approximately HK$261.9 million for the reporting period, compared to approximately HK$215.9 million in the same period last year[70]. - The total headcount for the group increased to approximately 3,805 employees as of September 30, 2022, up from approximately 2,851 employees a year earlier[70].