highlights
First Half of FY2/24 | First Half of FY2/23 | Year-on-year change | |
proceeds(HK$ million) | 2,046.8 | 2,090.5 | -2.1% |
Māori(HK$ million) | 307.4 | 267.5 | 14.9% |
Gross Profit Ratio (%) | 15.0 | 12.8 | 17.2% |
EBITDA(HK$ million) | 165.6 | 138.7 | 19.4% |
Profit after tax(HK$ million) | 37.7 | 30.3 | 24.4% |
Earnings per share attributable to shareholders of the Company — Basic(Hong Kong Fairy) | 4:48 a.m. | 3:58 | 25.1% |
Hong Kong, 27 November 2023 /Mainstream Community/ -- A leading technology, branding and manufacturing solutions company focused on smart and sustainable living — Jinbaotong Group Co., Ltd. (The “Company” or “Jinbaotong”, together with its subsidiaries collectively the “Group”; stock code: 320.HK) is pleased to announce its interim results for the six months ended 30 September 2013 (the “In Period” or the “First Half of FY23/24”).
Maintain business resilience in volatile environments
Despite macroeconomic challenges such as the slow global economic recovery, inflationary pressures and geopolitical tensions, the Group's business has demonstrated resilience and resilience, resulting in stable overall performance.
Total revenue was HK$2,046.8 million, a slight decrease of approximately 2.1% from HK$2,090.5 million for the six months ended 30 September 2002 (“first half of FY2/23"). On the upside, the Group generated HK$307.4 million in Mauritius, compared to HK$267.5 million in the first half of FY2/3, a significant increase of 14.9% year-on-year. Gross profit increased by 17.2% year-on-year, from 12.8% in the first half of FY2/23 to 15.0% in the first half of FY2/24. The strong year-over-year growth in gross profit and margin reflects strong pricing capabilities, better cost management and efficient operating efficiencies.
Profit after tax for the first half of FY2/24 was HK$37.7 million, a significant increase of 24.4% compared to HK$30.3 million in the first half of FY2/23. EBITDA for the first half of FY2/24 was HK$165.6 million, a significant increase of 19.4% compared to HK$138.7 million in the first half of FY2/23. The growth was attributed to improved operating efficiency and a favourable exchange rate environment.
Strong R&D capabilities and global footprint
The Group is committed to becoming a global technology leader in the field of smart and sustainable living through investment in R&D programs. Areas of focus include Artificial Intelligence (“AI”), Machine Learning (“ML”), Human Machine Interaction (“HMI”), Internet of Things (“IoT”), Connectivity and Cloud/Platform-as-a-Service (“PaaS”), Robotics and Automation, etc. The Group's product platform includes energy management solutions such as electric vehicle chargers, power control systems and battery storage products, as well as water management solutions such as irrigation control, sensor technology, robotic lawnmowers and remote LoRa protocol irrigation system control. The Group's focus on research and development enables us to keep pace with technological progress and continuously improve the quality of life for our customers while promoting environmental sustainability.
During this period, the Group established new production facilities in Vietnam and Mexico, successfully expanding its influence in the global market, especially in Southeast Asia and North America. This helps us get closer to key markets and better understand customer needs, and reinforces our commitment to providing tailored solutions and service excellence to global customers.
Driving smart and sustainable living in a fast-changing world
Beyond today's opportunities and risks, the Group has successfully transformed from a traditional engineering and manufacturing business to a technology, branding and manufacturing enterprise. We have developed four growth themes to help the Group achieve its vision of becoming a leader in smart and sustainable living.
Focus on growth.The Group is strategically positioned to seize opportunities in the green and smart markets by introducing innovative product platforms. Our R&D investment in our energy and water management platform leverages AI technologies, highlighting our commitment to developing world-leading sustainable solutions. BY ADOPTING THE NEW MATTER STANDARD, WE ENSURE THAT OUR PRODUCTS MEET THE LATEST STANDARDS IN THE SMART HOME AND INTERNET OF THINGS. We are committed to leading the industry in meeting the changing needs of consumers and growing in a thriving market.
A new global layout.In response to the changes brought about by the COVID-19 pandemic, the Group has adopted a region-by-region strategy to establish production facilities in key locations. This strategic investment enhances our ability to meet the changing needs of our global clientele and respond to a rapidly changing world, highlighting our determination to change and thrive in a new global landscape.
! 1vs! NTechnology.Jinbaotong has invested heavily in the field of green technology, with more than 500 engineers and more than 200 patents. Our R&D focuses on energy and water management. We have developed an AI model that can effectively save up to 25% on energy costs. We take a 1 to N approach, actively responding to current market demands and proactively predicting the future technical landscape. Our commitment to developing energy and water management solutions reflects our commitment to industry leadership and sustainability.
Transformation of operations.To maintain our business's excellent performance and continued growth, we plan to implement three strategic approaches: a “zone-to-region” model, a “spindle beam” infrastructure, and a “flexible hybrid operation” process. These strategies are designed to meet customer needs, streamline communication, improve resource efficiency, and facilitate cross-regional collaboration to optimize resource allocation and improve overall global efficiency.
prospect
Looking ahead, the global economic environment is expected to remain volatile. Chairman and CEO of Jinbaotong GroupMr. Oyang BekongIt said: “Given the changes at the macro level, we have been actively seizing opportunities in the green technology and smart home markets and practicing prudent banking. By taking a two-fold approach, we are well prepared for risk and stand out in a rapidly changing business environment.”
Mr. Oo Yang“Next year, Goldmark is approaching its Golden Jubilee year, and we have successfully transformed from an electronic watch manufacturer to a leading technology, brand and manufacturing company in the field of smart and sustainability. We are thrilled with this result. We look forward to the next 50 years of change, supported by visionary goals, employee incentive systems, and a solid five-year development roadmap. With these milestones and strategies, we expect continued success and growth in a fast-growing market. Our current goal is to drive our valuation and profitability beyond pre-COVID-19 levels while firmly unlocking potential value for our shareholders.”