叶氏化工集团2025 中期业绩报告

ToEnrichLIVES 目錄CONTENTS目錄CONTENTS 概要Highlights2主席報告－回顧及展望Chairman’s Statement –Review and Outlook3行政總裁報告Report of the Chief Executive Officer6流動資金及財務資源Liquidity and Financial Resources12人力資源Human Resources15董事及最高行政人員於股份、相關股份及債權證之權益及淡倉Directors’ and Chief Executives’ Interestsand Short Positions in Shares,Underlying Shares and Debentures16購股權計劃Share Option Scheme18主要股東Substantial Shareholder20其他資料Other Information21中期股息Interim Dividend21暫停辦理過戶登記手續Closure of Register of Members21購買、出售或贖回本公司之上市證券Purchase, Sale or Redemption of theCompany’s Listed Securities21須予披露交易Discloseable Transaction22 重大投資Significant Investments23企業管治Corporate Governance24審核委員會Audit Committee25上市公司董事進行證券交易的標準守則Model Code for Securities Transactionsby Directors of a Listed Company25企業可持續發展Corporate Sustainability26簡明綜合財務報告之審閱報告Report on Review of CondensedConsolidated Financial Statements27簡明綜合損益及其他全面收益表Condensed Consolidated Statement ofProfit or Loss and Other ComprehensiveIncome29簡明綜合財務狀況表Condensed Consolidated Statement ofFinancial Position31簡明綜合權益變動表Condensed Consolidated Statement ofChanges in Equity33簡明綜合現金流量表Condensed Consolidated Statement ofCash Flows36簡明綜合財務報告附註Notes to the Condensed ConsolidatedFinancial Statements38 主席報告－回顧及展望Chairman’s Statement – Review and Outlook REVIEW 本人欣然向葉氏化工集團有限公司（「本公司」）全體股東們呈報截至二零二五年六月三十日止六個月（「回顧期」），本公司及其附屬公司（統稱「葉氏化工」或「集團」）的業務概況。 It is my pleasure to present to all shareholders of Yip’s ChemicalHoldings Limited (the “Company”) an overview of the business ofthe Company and its subsidiaries (collectively “Yip’s Chemical” orthe “Group”) for the six months ended 30 June 2025 (the “periodunder review”). 上半年的經營大環境所面對內外的諸多不明朗和不確定性實在太多，其挑戰性更是近年所罕見。外部方面，多地的地緣政治緊張和戰亂不斷爆發，影響更甚者是美國政府發起針對全球貿易伙伴的關稅戰，其中焦點包括企圖對中國施加更大的壓力，對環球經濟構成了極大的負面影響。回顧上半年，中國的出口業務難免承受了一定的衝擊，雖然集團在內地各項核心業務的出口外銷部份佔比甚微，但間接上也受其下游客戶出口業務受損的影響。與此同時，國內內需市場繼續深受資產價格下跌和眾多經濟不確定因素所拖累，導致私人消費市場非常疲弱。受此兩大負面因素的影響下，集團的整體營業額難免下調。回顧期錄得的營業額為14.3億港元，較去年同期下調8%。儘管回顧期內部份產品單價因受嚴重「內捲」的衝擊而呈現不同程度的跌幅，集團仍可保持去年同期的毛利，確 實 有 賴 各 級 管 理 團 隊 的 堅 持 與 不 懈努力所致。至於股東應佔純利，則錄得6,610萬港元，較去年同期上升94%。 The operating environment in the first half of the year wasfraught with numerous internal and external uncertainties andinstabilities, presenting challenges rarely seen in recent years.Externally, escalating geopolitical tensions and outbreaks ofconflicts in multiple regions have persisted. More significantly,the U.S. government has initiated a tariff war against globaltrading partners, particularly its efforts to apply further intensifiedpressure on China, which has had a substantial negative impacton the global economy. Looking back at the first half of theyear, China’s export business inevitably suffered a certain degreeof impact. Although the Group’s export sales from its corebusinesses in the Chinese Mainland account for only a minorproportion, it was indirectly affected by the adverse impact onthe export operations of its downstream customers. Meanwhile,the domestic demand in China continued to be dragged downby declining asset prices and numerous economic uncertainties,leading to a significantly weakened private consumption market.Affected by these two major negative factors, the Group’s overallrevenue inevitably declined. Revenue for the period under reviewamounted to HK$1.43 billion, representing a 8% decreasecompared to the corresponding period of the preceding year.Despite the fact that the unit prices of some products duringthe period under review showed varying degrees of decline dueto severe “involution”, the Group still managed to maintainthe same level of gross profit as that in the correspondingperiod of the preceding year, which was indeed attributable tothe perseverance and unremitting efforts of the managementteams at all levels. Profit attributable to owners reachedHK$66.1 million, marking an increase of 94% compared to thecorresponding period of the preceding year. 主席報告－回顧及展望 在財務表現方面，集團因應不明朗的經營 大 氣 候 ， 信 貸 政 策 更 趨 嚴 謹 ， 因 此集 團 的 整 體 財 務 狀 況 依 然 穩 健 。 於 二零二五年六月三十日的借貸比率仍錄得18.0%的較健康水平。經綜合評估集團的業務前景、未來發展策略和一貫積極回饋股東的做法，本公司董事（「董事」）會（「董事會」）議決向全體股東派發中期股息每股4港仙。 Regarding financial performance, the Group has tightened itscredit policy in response to the uncertain operating environment,thereby still maintaining a healthy overall financial position. As at30 June 2025, the Group’s gearing ratio was still at a relativelyhealthy level of 18.0%. After a comprehensive assessmentof the Group’s business prospects and future developmentstrategies and considering the established practice of rewardingshareholders earnestly, the board (the “Board”) of directors (the“Director(s)”) of the Company has resolved to pay an interimdividend of HK4 cents per share to all shareholders. 集團聯營公司「謙信化工」的溶劑業務，回顧期內同樣面對「內捲」和銷售產品單價下調的負面影響。惟透過更加積極的擴大對東盟等地區的出口銷售，業務繼續取得良好的進展，致令該業務的銷量基本上與去年同期持平，盈利則比去年同期下跌約22%，其不俗的盈利貢獻仍對集團至關重要。更令人欣喜的是該業務在湖北荊門市投資興建的60萬噸醋酸新廠在管理團隊不懈的努力下，在大幅低於原投資預算的情況下順利如期在今年五月投產，並且新產品的質量獲得業界 好 評 。 與 此 同 時 ， 同 地 新 建 的60萬噸醋酸酯新生產線，興建過程也一切順利，亦已於本年七月投入生產。荊門市新廠兩條生產線相繼落成投產，標誌著謙信化工的發展進入一個新里程。產品線的垂直整合有望降低成本