Interim Report 2021

合豐集團控股有限公司 二零二一年中期報告 35 MANAGEMENT DISCUSSION AND ANALYSIS (continued) FINANCIAL REVIEW Operating results Revenue increased from HK$324.4 million in the first half of 2020 to HK$410.0 million in the first half of 2021. Such a 26.4% increase was due to the increase in both average selling price and sales volume, which was attributed to the rebound of Chinese economy since the second half of 2020. Cost of sales increased in line with the rise in revenue. Gross profit increased from HK$26.9 million to HK$59.1 million. Gross profit margin increased from 8.3% to 14.4%, which was consistent with the level in the second half of 2020. Other income fell HK$0.4 million, from HK$8.1 million to HK$7.7 million. It was mainly due to less scrap sales in the first half of 2021. Other gains and losses rose from net loss of HK$0.2 million in the first half of 2020 to net gain of HK$5.0 million in the first half of 2021, primarily due to more deposit denominated in Renminbi placed in Hong Kong and the effect of appreciation of Renminbi. Selling and distribution costs increased from HK$13.6 million to HK$15.8 million. The increase of 16.2% was attributed to the increase in transportation costs which was in line with the increase in revenue in the first half of 2021. Administrative expenses slightly increased from HK$36.8 million to HK$37.8 million in the first half of 2021. No significant change was recorded. 管理層討論及分析 （續） 財務回顧 經營業績 收 益 由 二 零 二 零 年 上 半 年 的 324,400,000 港元增至二零二一年上 半 年 的 410,000,000 港 元 ， 增 幅 達 26.4% ，源於中國經濟自二零二零年下 半年起出現反彈，令平均售價及產品銷 量均有所上升所致。銷售成本上升與收 益增加相符。毛利由 26,900,000 港元增 至 59,100,000 港元。毛利率由 8.3% 升 至 14.4% ，與二零二零年下半年的水平 一致。 其他收入由 8,100,000 港元減少 400,000 港元至 7,700,000 港元。此乃主要由於 二零二一年上半年廢品銷售減少所致。 其他收益及虧損由二零二零年上半年之 淨虧損 200,000 港元增加至二零二一年 上半年之淨收益 5,000,000 港元，主要 是由於更多以人民幣計值的存款存放在 香港，以及人民幣升值的影響所致。 銷售及分銷成本由 13,600,000 港元增加 16.2% 至 15,800,000 港元，乃由於運輸 成本上漲所致，這與二零二一年上半年 收益增加的情況相符。 行政開支由 36,800,000 港元輕微增加至 二零二一年上半年之 37,800,000 港元。 並無錄得大幅變動。