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星谦发展(00640) - 2025 - 中期业绩
INFINITY DEVINFINITY DEV(HK:00640)2025-05-28 11:00

Financial Performance - Revenue for the six months ended March 31, 2025, was HKD 409,306,000, representing a 23.1% increase from HKD 332,498,000 in the same period of 2024[2] - Gross profit for the same period was HKD 153,394,000, up 22.8% from HKD 124,918,000 year-on-year[2] - Operating profit increased to HKD 70,784,000, a 38.1% rise compared to HKD 51,274,000 in the previous year[2] - Profit attributable to owners of the company was HKD 56,609,000, reflecting a 38.2% increase from HKD 40,991,000 in the prior period[2] - Basic earnings per share rose to HKD 0.1005, compared to HKD 0.0728 for the same period last year[2] - The company declared an interim dividend of HKD 5.1 cents per share for the six months ended March 31, 2025, compared to HKD 3.6 cents per share in 2024, totaling approximately HKD 28,731,000[34] Assets and Liabilities - Total assets as of March 31, 2025, were HKD 604,590,000, an increase from HKD 594,297,000 as of September 30, 2024[5] - Current assets totaled HKD 635,682,000, slightly down from HKD 643,072,000 in the previous period[5] - The company reported a net asset value of HKD 591,167,000, up from HKD 583,563,000 as of September 30, 2024[5] - As of March 31, 2025, the company held interest-bearing bank borrowings of HKD 31,000,000, a decrease from HKD 39,000,000 as of September 30, 2024[38] - The group had interest-bearing bank borrowings of HKD 31,000,000 as of March 31, 2025, down from HKD 39,000,000 as of September 30, 2024, and lease liabilities of approximately HKD 7,977,000, up from HKD 4,471,000[41] - The group's debt-to-equity ratio was approximately 6.6% as of March 31, 2025, compared to 7.4% as of September 30, 2024[41] - The current ratio was approximately 2.8 as of March 31, 2025, slightly down from 2.9 as of September 30, 2024[41] Taxation - The group reported a total tax provision of HKD 15,296,000 for the six months ended March 31, 2025, compared to HKD 8,788,000 in 2024, marking an increase of approximately 74.5%[14] - The group’s effective tax rate for subsidiaries in China is 25%, while a subsidiary recognized as a high-tech enterprise enjoys a reduced rate of 15%[15] - The group has not generated any income in Hong Kong for the periods ended March 31, 2025, and 2024, resulting in no provision for Hong Kong profits tax[18] Inventory and Receivables - The provision for trade receivables and other receivables was HKD 3,000,000 for the six months ended March 31, 2025, down from HKD 5,000,000 in 2024, indicating a decrease of 40%[19] - Inventory provision for the six months ended March 31, 2025, was HKD 7,695,000, slightly lower than HKD 7,786,000 for the same period in 2024, reflecting a decrease of about 1.2%[19] - Trade receivables aged 0 to 90 days were HKD 154,793,000 as of March 31, 2025, down from HKD 186,455,000 in 2024[25] Operational Focus and Strategy - The company continues to focus on the manufacturing and sales of adhesives and related products for shoe factories, with no significant changes in accounting policies reported[6][7] - The group has one operating segment focused on manufacturing and selling adhesives and related products for shoe factories, with performance evaluated on a consolidated basis[11] - The company is currently constructing a new manufacturing facility in Indonesia, which is expected to enhance cost competitiveness and service delivery once completed[34] - The company plans to continue investing in R&D to develop high-quality products that meet market demands, collaborating with international chemical companies and industry experts[36] - The company anticipates stable sales growth in the medium to long term due to increasing global demand for footwear and stricter quality requirements for adhesives[37] - The company will closely monitor its working capital management and adjust its business strategies as necessary in response to market developments and uncertainties[37] Other Comprehensive Income - Other comprehensive income for the period was a loss of HKD 18,584,000, compared to a gain of HKD 303,000 in the same period last year[4] Employee Expenses - Employee benefit expenses, including directors' remuneration, amounted to approximately HKD 61,208,000 for the six months ended March 31, 2025, compared to HKD 48,220,000 for the same period in 2024[47] Capital Commitments and Investments - The group had capital commitments of approximately HKD 35,950,000 for the acquisition of properties, machinery, and equipment as of March 31, 2025, down from HKD 51,347,000 as of September 30, 2024[44] - There were no significant investments, acquisitions, or disposals during the six months ended March 31, 2025[43] - The group did not adopt any share option schemes since July 22, 2020[48] Depreciation and Deferred Tax - Depreciation for property, plant, and equipment was HKD 5,630,000 for the six months ended March 31, 2025, compared to HKD 5,804,000 in 2024, showing a decrease of about 3%[19] - Deferred tax for the six months ended March 31, 2025, was HKD 311,000, down from HKD 1,470,000 in 2024, indicating a decrease of approximately 78.8%[14]