正大企业国际2022中期报告

CHIATAIENTERPRISESINTERNATIONALLIMITED 正大企业国际有限公司 IncorporatedinBermudawithlimitedliability•StockCode:3839 于百慕大注册成立之有限公司•股份代号:3839 INTERIMREPORT2022中期报告 Contents 目录 2ManagementDiscussionandAnalysis 管理层讨论及分析 6ReportonReviewofInterimFinancialReport 中期财务报告之审阅报告 8ConsolidatedStatementofComprehensiveIncome 综合全面收益表 10ConsolidatedStatementofFinancialPosition 综合财务状况表 12ConsolidatedStatementofChangesinEquity 综合权益变动表 14CondensedConsolidatedStatementofCashFlows 简明综合现金流量表 15NotestoInterimFinancialReport 中期财务报告附注 31OtherInformation 其他资料 35CorporateInformation 公司资料 MANAGEMENTDISCUSSIONANDANALYSIS 管理层讨论及分析 GROUPRESULTS ChiaTaiEnterprisesInternationalLimited(the“Company”)anditssubsidiaries(the“Group”)havetwolinesofbusiness:biochemicalbusinessandindustrialbusiness.Thebiochemicalbusinessfocusesonchlortetracycline(“CTC”)andotherrelatedproducts,andiscarriedonbyGroupsubsidiaries.ThisbusinesssegmentaccountsforalloftheGroup’sconsolidatedrevenue.TheindustrialbusinesscomprisestheGroup’sinterestsinitsjointventureECIMetroInvestmentCo.,Ltd.(togetherwithitssubsidiaries,“ECIMetro”)anditsassociateZhanjiangDeniVehiclePartsCo.,Ltd.(togetherwithitssubsidiaries,“ZhanjiangDeni”).TheresultsoftheGroup’sindustrialbusinessareincorporatedintheconsolidatedstatementofcomprehensiveincomeasshareofprofitsandlossesofjointventureandassociate. Forthesixmonthsended30June2022(“1H22”),theGroup’srevenueincreasedby28.2%toUS$81.21million(forthesixmonthsended30June2021(“1H21”):US$63.37million).Overall,grossprofitmargindeclinedby2.3percentagepointsyear-on-yearto23.6%(1H21:25.9%). LossattributabletoshareholdersoftheCompanywasUS$4.98millionin1H22,comparedtoprofitattributabletoshareholdersoftheCompanyofUS$6.72millionin1H21.TheturnfromprofittolosswasmainlyduetoshareofprofitsandlossesofECIMetrodeterioratingfromaprofitofUS$5.50millionin1H21toalossofUS$5.34millionin1H22. Basicanddilutedearningspersharewerebothnegative1.97UScentsin1H22(1H21:positive2.65UScents).TheBoardhasresolvednottodeclareaninterimdividendforthesixmonthsended30June2022(1H21:Nil). BUSINESSREVIEW Biochemical WegenerateasizableportionofourrevenuefromthemanufactureandsaleofCTCproducts:CTCPremixandCTCHCL.CTCproductsareantibioticsusedtopreventorcureanimaldiseases.Inthepastfewyears,wehavebeenstrategicallybroadeningourproductportfoliotocoverotherrelatedveterinaryproducts.Ofthesenewofferings,somewemanufactureandsell,andsomewesourceandtrade.TheGroup’smajorcustomersincludefarms,pharmaceuticalcompanies,tradingcompaniesandfeedmills. 集团业绩 正大企业国际有限公司（“本公司”）及其附属公司（“本集团”）从事生化业务及工业业务。生化业务专注于金霉素及其他相关产品，并由本集团之附属公司营运，乃占本集团的所有综合收入。工业业务包含本集团于易初明通投资有限公司（及其附属公司，统称“易初明通”）的合营企业权益及于湛江德利车辆部件有限公司（及其附属公司，统称“湛江德利”）的联营公司权益。本集团工业业务的业绩载列于综合全面收益表内的应占合营企业及联营公司溢利及亏损。 截至二零二二年六月三十日止六个月（“二零二二年上半年”），本集团的收入上升28.2%至8,121万美元（截至二零二一年六月三十日止六个月（“二零二一年上半年”）：6,337万美元）。整体毛利率按年下降2.3个百分点至23.6%（二零二一年上半年：25.9%）。 二零二二年上半年本公司股东应占亏损为498万美元，二零二一年上半年本公司股东应占溢利则为672万美元。转盈为亏主要由于应占易初明通溢利及亏损从二零二一年上半年盈利550万美元恶化至二零二二年上半年亏损534万美元。 每股基本及摊薄溢利为负1.97美仙（二零二一年上半年：正2.65美仙）。董事会决议截至二零二二年六月三十日止六个月不派付中期股息（二零二一年上半年：无）。 业务回顾 生化业务 我们的收入大部分来自制造及销售金霉素产品：金霉素预混剂及盐酸金霉素。金霉素产品为用作预防或治疗动物疾病的抗生素。近年，我们一直在策略性地扩大我们的产品组合，以涵盖其他相关的兽药产品。在这些新产品中，一部分我们制造及销售，一部分是我们采购和进行贸易的。本集团的主要客户包括养殖场、制药公司、贸易公司及饲料加工厂。 In1H22,theGroup’srevenuefrombiochemicalbusinessincreasedby28.2%toUS$81.21million(1H21:US$63.37million).RevenuecontributionfromChina,Americas,AsiaPacific(excludingChina)andelsewherewas40.5%,24.3%,20.4%and14.8%,respectively. Fortheperiodunderreview,despitemultiplechallengesathomeandaboard,werecordedsolidrevenuegrowthmainlyduetoanincreaseinoverseassales.DespitelogisticalissuescausedbytheCOVID-19pandemic,wemanagedtoincreaserevenuefromourcustomersabroadviatargetedmarketingandpromotionefforts.SalestoNorthAmerica,inparticular,increasedsignificantlyaswesuccessfullysoldCTCproductstonewcustomers. InChina,inresponsetothebanontheuseofantibioticsasfeedadditives,theGrouphassuccessfullyshifteditskeyCTCcustomersfromfeedmillstofarms.However,duringtheperiodunderreview,softanimalproteinpricesledtoaslowdowninfarmingactivities.Asaresult,ourcustomersfromthefarmingsectorcuttheirordersforCTCproducts.However,inresponsetotheweakeningdemandforCTCproducts,weactivelyexploredsalesofotherrelatedveterinaryproducts.TheseproductsgeneratednewbusinessfortheGroupandwerethekeyrevenuegrowthdriverinChina.Asaresult,overalldomesticsalesinChinaremainedstable. In1H22,averagesellingpriceofCTCpremix,ourmainrevenuecontributor,increasedby3.0%comparedto1H21whileaveragesellingpriceofCTCHCLreducedby3.2%year-on-yearduetointensifiedpricingcompetition.However,risingrawmaterialandenergycostsputpressureonourprofitability.Overall,grossprofitmarginreducedfrom25.9%in1H21to23.6%in1H22. Industrial TheGroup’sindustrialbusinessisconductedthroughECIMetroandZhanjiangDeni. ECIMetroisprincipallyengagedinthesale,leasingandservicingofCaterpillarmachineryequipmentinthewesternpartofChina.AccordingtotheNationalBureauofStatisticsofthePeople’sRepublicofChina,fixed-assetinvestmentgrowthinChinawas6.1%in1H22,andthatinthewesternpartofChinawas8.0%.Withinfixed-assetinve