利民实业2024年中期报告

Management Statement管理層報告書 20246306202463062024630 The board (the “Board”) of directors (the “Directors”)of Raymond Industrial Limited (the “Company”) herebypresents the unaudited interim financial information forthe six months ended 30 June 2024 of the Company andits subsidiaries (collectively, the “Group”). The condensedconsolidated statement of profit or loss, condensedconsolidated statement of profit or loss and othercomprehensive income of the Group for the six monthsended 30 June 2024 and the condensed consolidatedstatement of financial position of the Group as at 30 June2024, along with selected explanatory notes, are unauditedbut have been reviewed by the Company’s audit committee(the “Audit Committee”) together with the Company’sindependent auditor, RSM Hong Kong. BUSINESS HIGHLIGHTS 2024523,457,0002023648,916,00019.33%26,821,000202325,662,0004.52%2023 The Group’s turnover was HK$523,457,000 in the first sixmonths of 2024, representing a decrease of approximately19.33% compared with a turnover of HK$648,916,000for the corresponding period in 2023. The Group’s netprofit was HK$26,821,000 compared with a net profit ofHK$25,662,000 for the corresponding period in 2023,representing an increase of approximately 4.52%. Theincrease in net profit was attributable to the fact thatalthough the Group’s business turnover has decreased, aseries of favorable macroeconomic factors (strong UnitedStates Dollars (“USD”) and depreciating Renminbi (“RMB”))increased the Group’s gross profit margins. Also, risinginterest rates increased the Group’s interest income,therefore, net profits were maintained at respectable levelcompared with corresponding period in 2023. Management Statement (Continued)管理層報告書（續） BUSINESS HIGHLIGHTS(Continued) 20242024 During the first six months of 2024, although the Group’smanagement faced uncertainties arising from the risinginterest rates that caused inflationary pressures and lowersales demand worldwide, the Group had been able tocontinue to launch new innovative products with goodgross margins. To improve the cash flow further, the Groupopted to exercise financial prudence to reduce safetystock for contingency planning, and to utilise fixed costsmore effectively by investing in new machineries prudentlyto support launch of new products. Our managementteam expects to find new customers and discuss newopportunities to develop more new products during thesecond half of 2024 amid all the uncertainties around theworld. 20244 In April 2024, the Group successfully shipped the firstcontainer of “Made in Indonesia” products for one of ourmajor customers from Batam, an Indonesia factory of ourmanufacturing partner. To alleviate potential geopoliticalrisk, and to mitigate the uncertainty surrounding theupcoming US Presidential election, it is important that theGroup has an overseas manufacturing facility where wecan produce key products outside China for our customersin case Sino-US relationship deteriorates. 20244 In April 2024, the Group also rented out part of theoffice and warehouse at the Hong Kong headquarters togenerate rental income. The gain on the measurement ofthe fair value of the office and warehouse when their usewas changed to investment properties has been booked inother comprehensive income. 202465003 In June 2024, the Group was nominated as one of the 3finalists among approximately 500 suppliers in “Our MostImportant Customers’ Procurement Partnership Award”.This kind of recognition would drive our managementto strive for improvement and excellence in our futurecooperation with strategic partners, both customers andkey suppliers. Management Statement (Continued)管理層報告書（續） 2024 PROSPECTS IN THE SECOND HALF OF 2024 2024 The Group’s management anticipates strong challengesduring the second half of 2024 due to continuousgeopolitical tensions and economic uncertainties. TheGroup’s management expects that the toxic culture of“involution” in our industrial sector in China will increasedomestic factories price cutting among our competitors,which will result in diminishing returns if we do notinnovate and carve out a niche market to develop newdifferentiated novel products. Furthermore, the Group’smanagement needs to react quickly to formulate a newand effective strategy to counter the disruptive marketforces emerging from the business ecosystem in whichthe Group operates. The Group’s investment in researchand development (“R&D”) enables us to maintain theHigh and New Technology Enterprise (“HNTE”) statusfor the eighth consecutive year, and allows the Group touse new knowledge, patents and innovations to grow ourbusiness despite a punctuated equilibrium in the businessecosystem. The Group’s management will remain resilientto tackle any immediate market downturns and formstronger partnership with our strategic customers to adaptto the new business ecosystem. 2024MicrosoftPower BI In the year 2024, the Group will continue to invest andpromote computerization of manufactu