Financial Performance - The revenue for the six months ended March 31, 2024, was approximately HK$332,498,000, compared to approximately HK$358,656,000 for the same period in 2023, indicating stability[12]. - Gross profit increased by approximately 17.9%, reaching approximately HK$124,918,000 for the six months ended March 31, 2024, up from approximately HK$105,965,000 in 2023[12]. - Other income rose by approximately 75.4%, totaling approximately HK$6,087,000 for the six months ended March 31, 2024, compared to approximately HK$3,471,000 in 2023[12]. - Profit attributable to owners of the Company for the six months ended March 31, 2024, was approximately HK$40,991,000, representing an increase of approximately 48.8% from approximately HK$27,539,000 in 2023[14]. - Profit for the period increased to HK$40,991,000, representing a 48.5% increase compared to HK$27,539,000 in the same period last year[79]. - Total comprehensive income for the period attributable to owners of the Company was HK$41,294,000, up from HK$30,493,000, reflecting a 35.5% increase[80]. - Profit from operations rose to HK$51,274,000, representing a 47.4% increase from HK$34,750,000 in 2023[94]. - Basic earnings per share increased to HK7.28 cents, up from HK4.89 cents in the previous year, reflecting a growth of 48.9%[94]. Cost Management - Selling and distribution costs decreased by approximately 13.7%, amounting to approximately HK$22,622,000 for the six months ended March 31, 2024, down from approximately HK$26,225,000 in 2023[12]. - Administrative expenses remained stable at approximately HK$53,005,000 for the six months ended March 31, 2024, compared to approximately HK$49,936,000 in 2023[12]. - Employee benefits expense for the six months ended March 31, 2024, amounted to approximately HK$48,220,000, slightly down from approximately HK$48,613,000 for the same period in 2023[24]. - The Group is committed to strengthening operational cost control in response to high inflation and decreased purchasing power in the market[15]. Financial Position - As of March 31, 2024, the Group had interest-bearing bank borrowings of HK$62,000,000, down from HK$85,000,000 as of September 30, 2023[21]. - The Group's gearing ratio as of March 31, 2024, was approximately 12.1%, a decrease from approximately 17.4% as of September 30, 2023[21]. - The current ratio of the Group improved to approximately 2.9 as of March 31, 2024, compared to approximately 2.7 as of September 30, 2023[21]. - Total liabilities increased to HK$539,605,000 from HK$520,792,000, reflecting a growth of 3.6%[83]. - Total current assets as of March 31, 2024, were HK$603,856,000, slightly up from HK$600,194,000 in 2023[99]. - Total equity as of March 31, 2024, was HK$531,617,000, up from HK$513,420,000 in 2023, reflecting a growth of 3.2%[102]. Investments and Commitments - The Group plans to invest in and develop its OEM business proactively to broaden its revenue base[19]. - As of 31 March 2024, the Group had capital commitments of approximately HK$3,041,000, a decrease from approximately HK$11,262,000 as of 30 September 2023[30]. - A construction works contract was entered into for a manufacturing plant in Indonesia, with a fixed consideration of Rp117,766,000,000 (approximately HK$57,085,000)[30]. Dividends - The Board declared an interim dividend of HK3.6 cents per ordinary share for the six months ended 31 March 2024, an increase from HK2.4 cents for the same period last year[27]. - The final dividend for the year ended 30 September 2023 was approved and paid at HK3.3 cents per ordinary share, down from HK4.3 cents for the previous year[152]. - An interim dividend of HK3.6 cents per ordinary share was declared for the six months ended 31 March 2024, totaling approximately HK$20,281,000, compared to HK$13,520,000 for the same period in 2023[175]. Operational Overview - The Group operates three manufacturing plants located in China, Vietnam, and Indonesia, with a new plant under construction in Indonesia to enhance cost competitiveness and service capabilities[15]. - The Group operates in a single segment focused on manufacturing and selling adhesives, primers, hardeners, and vulcanized shoes adhesive products for footwear manufacturers[121]. - The Group's financial statements are prepared in accordance with Hong Kong Accounting Standard 34, ensuring compliance with local regulations[110]. Taxation - The Group's provision for the PRC Enterprise Income Tax for the period was HK$190,000, with Macau Complementary Tax at HK$6,096,000[147]. - The Group's overall tax provision reflects a significant increase in tax expenses compared to the previous period, indicating a potential impact on net profit[165]. Corporate Governance - The Company complied with the Corporate Governance Code provisions for the six months ended 31 March 2024[27]. - All Directors confirmed compliance with the Model Code for Securities Transactions throughout the reporting period[27]. - The audit committee, consisting of four independent non-executive Directors, has reviewed the condensed consolidated financial statements for the six months ended March 31, 2024[62].
星谦发展(00640) - 2024 - 中期财报