Chen Hsong : Interim Report (2022-23)

(Incorporated in Bermuda with limited liability)

INTERIM REPORT

中期報告

2022/23

Financial Highlights

	For the six months
	ended 30 September
	2022	2021	Change
	(Unaudited)	(Unaudited)
RESULTS HIGHLIGHTS (HK$'000)
Revenue	1,321,680	1,557,052	-15%
Profit before tax	92,177	165,668	-44%
Profit attributable to equity holders
of the Company	75,104	123,162	-39%
Total assets	3,962,299	4,459,165	-11%
Shareholders' equity	2,933,529	3,082,758	-5%
Issued share capital	63,053	63,053	0%
Net current assets	1,869,375	2,054,677	-9%
PER SHARE DATA
Basic earnings per share (HK cents)	11.9	19.5	-39%
Cash dividends per share (HK cents)	4.5	5.2	-13%
Net assets per share (HK dollars)	4.7	4.9	-4%
KEY FINANCIAL RATIOS
Return on average shareholders' equity (%)	2.4	4.1	-41%
Return on average total assets (%)	1.8	2.8	-36%

CHEN HSONG HOLDINGS LIMITED INTERIM REPORT 2022/23

1

Corporate Information

Directors	Executive Directors
	Ms. Lai Yuen CHIANG (Chairman and Chief Executive Officer)
	Mr. Stephen Hau Leung CHUNG
	Independent Non-executive Directors
	Mr. Bernard Charnwut CHAN
	Mr. Anish LALVANI
	Mr. Michael Tze Hau LEE
	Mr. Johnson Chin Kwang TAN
Audit Committee	Mr. Anish LALVANI (Chairman)
	Mr. Bernard Charnwut CHAN
	Mr. Michael Tze Hau LEE
	Mr. Johnson Chin Kwang TAN
Remuneration Committee	Mr. Bernard Charnwut CHAN (Chairman)
	Mr. Anish LALVANI
	Mr. Michael Tze Hau LEE
	Mr. Johnson Chin Kwang TAN
	Ms. Lai Yuen CHIANG
Nomination Committee	Mr. Johnson Chin Kwang TAN (Chairman)
	Mr. Bernard Charnwut CHAN
	Mr. Anish LALVANI
	Mr. Michael Tze Hau LEE
Corporate Governance	Mr. Michael Tze Hau LEE (Chairman)
Committee	Mr. Bernard Charnwut CHAN
	Mr. Anish LALVANI
	Mr. Johnson Chin Kwang TAN
Company Secretary	Mr. Chi Ngai CHAN
Authorized Representatives	Ms. Lai Yuen CHIANG
	Mr. Chi Ngai CHAN

2	CHEN HSONG HOLDINGS LIMITED INTERIM REPORT 2022/23

Auditor	Ernst & Young
	Registered Public Interest Entity Auditor
Principal Bankers	China Construction Bank (Asia) Corporation Limited
	Hang Seng Bank Limited
	Industrial and Commercial Bank of China (Asia) Limited
	The Hongkong and Shanghai Banking Corporation Limited
Principal Share Registrar	MUFG Fund Services (Bermuda) Limited
	4th Floor North
	Cedar House
	41 Cedar Avenue
	Hamilton HM 12
	Bermuda
Branch Share Registrar	Tricor Tengis Limited
	17/F, Far East Finance Centre
	16 Harcourt Road
	Hong Kong
Registered Office	Victoria Place
	5th Floor, 31 Victoria Street
	Hamilton HM 10
	Bermuda
Head Office & Principal	13-15 Dai Wang Street
Place of Business	Tai Po Industrial Estate
	Tai Po, New Territories
	Hong Kong
Corporate Communications &	Company Secretary
Investor Relations	Tel: [phone]
	Fax: [phone]
	E-mail: [e-mail]
	Website: www.chenhsong.com
Stock Code	00057

CHEN HSONG HOLDINGS LIMITED INTERIM REPORT 2022/23

3

Interim Results

The board of directors (the "Board") of Chen Hsong Holdings Limited (the "Company") announces that the unaudited consolidated profit attributable to equity holders of the Company for the six months ended 30 September 2022 amounted to HK$75,104,000 as compared with the profit attributable to equity holders of HK$123,162,000 for the corresponding period of last year. Basic earnings per share for the six months ended 30 September 2022 was HK11.9 cents, as compared with the basic earnings per share of HK19.5 cents for the corresponding period of last year. These unaudited interim results have been reviewed by the Company's Audit Committee.

Condensed Consolidated Income Statement

For the six months ended 30 September 2022

		Six months ended
		30 September
		2022		2021
		(Unaudited)	(Unaudited)
	Notes	HK$'000	HK$'000
REVENUE	2	1,321,680		1,557,052
Cost of sales		(1,012,808)	(1,163,346)
Gross profit		308,872		393,706
Other income and gains, net		39,960		48,104
Selling and distribution expenses		(146,024)	(161,062)
Administrative expenses		(73,092)	(78,927)
Other operating expenses, net		(36,772)	(36,399)
Finance costs		(493)	(642)
Share of profits less losses of associates		(274)	888
PROFIT BEFORE TAX	3	92,177		165,668
Income tax expense	4	(17,854)	(40,741)
PROFIT FOR THE PERIOD		74,323		124,927
ATTRIBUTABLE TO:
	75,104
Equity holders of the Company			123,162
Non-controlling interests		(781)	1,765
		74,323		124,927
EARNINGS PER SHARE ATTRIBUTABLE TO
EQUITY HOLDERS OF THE COMPANY	6	11.9
Basic (HK cents)			19.5
Diluted (HK cents)		11.9		19.5

4	CHEN HSONG HOLDINGS LIMITED INTERIM REPORT 2022/23