Interim Report 2007

19 舜宇光學科技（集團）有限公司 二零零七年中期報告 MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析 The Group is a leading integrated optical components and products manufacturer in terms of revenue and profitability in the PRC. The Group possesses strong design capabilities, manufacturing know-how and an efficient production process to offer a comprehensive range of optical and optical-related products through its ability to integrate optical, mechanical and electronic technologies. The Group also has the expertise to vertically integrate its principal business segments of optical components, optoelectronic products and optical instruments manufacturing. For the six months ended 30 June 2007, the Group has recorded strong growth in sales that is mainly attributable to the strong demand for various types of optical components and optical-related products in face of the prevalent trend of image digitization. A. FINANCIAL REVIEW For the six months ended 30 June 2007, the Group has recorded strong growth in sales that is mainly attributable to the strong demand for various types of optical components and optical-related products in face of the prevalent trend of image digitisation. Revenue For the six months ended 30 June 2007, the Group’s revenue increased by approximately 43.6% from approximately RMB387.3 million in the same period of 2006 to approximately RMB556.0 million, mainly as a result of the increase in revenue from optoelectronic products by approximately RMB95.2 million and from optical components by approximately RMB74.8 million. The increase was mainly due to the rising demand for mobile phones with camera function as well as demand for other end products with optical-related applications. Gross profit and margin Gross profit increased by approximately 34.7% from around RMB111.3 million in the six months ended 30 June 2006 to approximately RMB149.9 million from the same period in 2007. The Group’s revenue from optoelectronic products has increased significantly during the review period. While optoelectronic products have relatively lower profit margins, hence lowering the Group’s overall gross margin. The effect has been partially offset by the increase in the revenue from optical components segment which possess higher gross margin than optoelectronic products. As such, the overall gross margin decreased slightly from approximately 28.7% in the six months ended 30 June 2006 to approximately 27.0% in 2007. In addition, there are signs indicating that the gross margin of optoelectronic products is improving with the margin in 2007 is higher than the average margin in 2006 and the demand for the products is on an upward trend. 本集團在收益及盈利能力方面為中國領先的綜合光 學零件及產品生產商。本集團具備強大的設計實力、 豐富的生產專業技術及高效生產工序，結合光學、機 械及電子技術，提供各類光學及光學相關產品。本集 團的主要業務包括光學零件、光電產品及光學儀器 業務，以垂直整合方式經營。 截至 2007 年 6 月 30 日止 6 個月期間，本集團銷售額增 長迅速。造成增長的最主要因素是在圖像數字化的 大趨勢下，市場上對各種光學零件及相關產品的巨 大需求。 A. 財務回顧 截至二零零七年六月三十日止六個月期間， 本集團錄得強勁的銷售收入增長，主要由於 影像數碼化的趨勢帶動各項光學零件及光學 相關產品的需求上升。 收入 截至二零零七年六月三十日止六個月期間， 本集團的收入較二零零六年同期的約人民 幣 3.873 億元增加約 43.6% 至約人民幣 5.56 億 元，主要是由於具相機功能手提電話及其他 具有光學功能的終端產品需求持續增加，使 光電產品收入上升約人民幣 9,520 萬元，以及 光學零件收入增加約人民幣 7,480 萬元。 毛利及毛利率 毛利從二零零六年上半年約人民幣 1.113 億 元上升約 34.7% 至二零零七年同期的約人民 幣 1.499 億元。期內來自光電產品的銷售收入 大幅增加，而有關產品的毛利率相對較低，因 而導致本集團整體毛利率降低，這影響部份 被期內毛利率較高的光學零件銷售收入增加 所抵銷，因此，整體毛利率僅由二零零六年的 約 28.7% 微跌至二零零七年的約 27.0% 。另 外，期內光電產品的毛利率相比二零零六年 全年平均毛利率為高，加上市場對此類產品 需求持續上升，反映光電產品的毛利率正逐 步改善。