Interim Report 2022

合豐集團控股有限公司 二零二二年中期報告 35 MANAGEMENT DISCUSSION AND ANALYSIS (continued) BUSINESS REVIEW (continued) In addition, the Group is still in the process of installing a new pulp production line at the leased facility in the Philippines, subject to the prevalent COVID-19 pandemic in the region. The Group will actively monitor the local situation so as to facilitate the commencement of production as soon as possible. Consequently, it could satisfy the business needs of our Group’s upstream business, bringing the Group’s production volume and overall business back on track. FINANCIAL REVIEW Operating results Revenue decreased from HK$410.0 million in the first half of 2021 to HK$241.9 million in the first half of 2022. Such a 41.0% decrease was due to the decrease in revenue as a result of the temporary suspension of production of upstream production, and the decrease in both average selling price and sales volume, which was attributed to lower customer demands. The extent of the decrease in cost of sales was less than that in revenue. Gross profit decreased from HK$59.1 million to gross loss of HK$24.1 million. Gross profit margin decreased from 14.4% to -10.0%, which was due to high cost of raw materials and recurring overheads. Other income fell HK$1.0 million, from HK$7.7 million to HK$6.7 million. It was mainly due to less interest income in the first half of 2022. Other gains and losses decreased from net gain of HK$5.0 million in the first half of 2021 to net loss of HK$5.1 million in the first half of 2022, primarily due to the effect of depreciation of Renminbi. 管理層討論及分析 （續） 業務回顧 （續） 此外，集團在菲律賓租用新廠房安裝新 的紙漿生產線的工程仍在進行，惟受當 地新型冠狀病毒疫情猖獗所影響，集團 將積極留意當地情況，期望可盡快開展 當地的生產工序，以滿足集團在上游業 務的業務需要，使集團的生產量及業務 重回正軌。 財務回顧 經營業績 收 益 由 二 零 二 一 年 上 半 年 的 410,000,000 港元減至二零二二年上 半 年 的 241,900,000 港 元 ， 減 幅 達 41.0% ，源於上游生產暫時停產導致收 益減少，以及客戶需求減少，令平均售 價及銷量均有所下降所致。銷售成本的 下降幅度少於收益的下降幅度。毛利由 59,100,000 港元減至毛損 24,100,000 港 元。毛利率由 14.4% 降至 -10.0% ，源於 高昂的原材料及經常性開支所致。 其 他 收 入 由 7,700,000 港 元 減 少 1,000,000 港元至 6,700,000 港元。此乃 主要由於二零二二年上半年利息收入減 少所致。 其他收益及虧損由二零二一年上半年之 淨收益 5,000,000 港元減少至二零二二 年上半年之淨虧損 5,100,000 港元，主 要是由於人民幣貶值的影響。