信源企业集团(01748) - 2022 - 中期财报

Financial Performance - Revenue for the six months ended June 30, 2022, was $33,233,000, representing a 34$24,781,000 in the same period of 2021[10]. - Gross profit for the same period was $8,356,000, up 75$4,768,000 in 2021[10]. - Profit for the period increased to $4,554,000, compared to$1,488,000 in 2021, marking a 206% growth[12]. - Basic earnings per share rose to 1.04 cents, up from 0.34 cents in the previous year[10]. - Total comprehensive income for the period was 4,531,000 USD, a decrease of 23% compared to the previous period[19]. - The Group's profit for the period attributable to owners of the Company was US$4,554,000 for the six months ended June 30, 2022, compared to US$1,488,000 for the same period in 2021, representing a significant increase[60]. - Profit increased significantly by approximately US$3.1 million or 206.7$1.5 million for the six months ended 30 June 2021 to approximately US$4.6 million for the six months ended 30 June 2022[126]. - Net profit margin increased from approximately 6.0$217,023,000, an increase from $200,499,000 at the end of 2021[14]. - Total equity increased to$125,561,000 from $121,030,000 at the end of 2021[17]. - Current assets totaled$44,560,000, significantly up from $9,172,000 at the end of 2021[14]. - The Group's borrowings and lease liabilities totaled approximately US$83.5 million, an increase of approximately US$11.4 million from US$72.1 million as of December 31, 2021[129]. - The Group's indebtedness included borrowings of approximately US$55.9 million and lease liabilities of approximately US$27.6 million as of June 30, 2022[134]. - The Group's pledged bank deposits and cash balances amounted to approximately US$23.9 million, up by approximately US$18.7 million from US$5.2 million as of December 31, 2021[130]. Cash Flow and Liquidity - Net cash generated from operating activities was 8,985,000 USD, an increase of 41$1.1 million or 13.6% to approximately US$9.2 million for the six months ended June 30, 2022, driven by a 16.9$5.6 million or 49.6% to approximately US$16.9 million for the six months ended June 30, 2022, with average freight rates under voyage charter contracts increasing significantly by 86.6$1.7 million or 31.5% to approximately US$7.1 million for the six months ended June 30, 2022, driven by rising freight rates[109]. Expenses and Costs - Administrative expenses rose to$2,095,000 from $1,748,000 in 2021, reflecting a 20$4.9 million or 24.5% to approximately US$24.9 million for the six months ended June 30, 2022, in line with a revenue increase of approximately 33.9$2.9 million or 83.9%, attributed to a sharp rise in global bunker prices, which increased by approximately 60% to 80% compared to the same period in 2021[112]. - The company experienced a significant rise in crew expenses of approximately US$1.2 million or 16.6%, primarily due to pandemic-related costs[112]. Corporate Governance and Compliance - The Company has fully complied with the Corporate Governance Code during the six months ended June 30, 2022[178]. - The Audit Committee reviewed the unaudited condensed consolidated interim results for the six months ended June 30, 2022, confirming compliance with applicable accounting principles and adequate disclosures[181]. - The Company established an Audit Committee comprising three independent non-executive Directors[181]. Strategic Outlook - The company is actively seeking new time charter opportunities to minimize off-hire periods and ensure adequate operating cash flow[93]. - The company remains cautiously optimistic about the growth of its asphalt shipping business in the coming years despite external challenges[97]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its service portfolio[187]. - The company has outlined a positive outlook for the next fiscal year, projecting a revenue increase of BB% driven by new product launches and market expansion strategies[186]. Shareholder Information - No interim dividend was recommended for the six months ended June 30, 2022, consistent with the previous year[58]. - The weighted average number of ordinary shares for the calculation of basic earnings per share was 440,000 for both the six months ended June 30, 2022, and 2021[62]. - The Company does not recommend payment of an interim dividend for the six months ended June 30, 2022[178].