Kay-KY First Half of the Year EPS 2.61 Yuan in the Second Half of the Year
Kay-KY (2939) announced the semi-annual report. In the second quarter, the net profit after tax attributable to the parent company was RMB 46 million. The after-tax profit per share was 0.98 yuan. The net profit after tax attributable to the parent company in the first half of the year was RMB 123 million, which was obtained compared with the same period of last year. The profit declined by 56.3% and the after-tax earnings per share was 2.61 yuan. Cathy-KY said that the first half of the year was not as profitable as the same period last year, mainly due to the decline in the performance of kitchen supplies and electronic appliances. In addition, in the first half of this year, the exchange gain of 16.97 million yuan was reduced compared with the exchange income of 70.55 million in the same period of last year, which was also a factor of profit decline.
Kay-KY said that the decline in kitchen supplies, mainly from the decline in the sales of the first generation of Copper Chef products, has been gradually reduced due to the life cycle of the pan products since its sales in 2016. In addition, electronic and electrical products mainly come from the decline of cold fans, dryers and gas-fried ovens. In terms of gross profit margin, the gross profit margin for the first half of this year was 28% higher than the 26% in the same period of last year, mainly due to the increase in the proportion of domestically sold high-margin products in Taiwan.
Kay-KY said that although the overall profit decline, but with COPPER CHEF entering the cross-strait market, coupled with the introduction of Japan’s best-selling gas fryer products in Taiwan, the first half of this year, Taiwan’s revenue growth compared with the same period last year, Taiwan Revenue share rose from 2% to 9%. In addition, in terms of product weight, in addition to the original large-selling kitchen products, and continued diversified product development extended to household items, electrical appliances and body care products, including telescopic water pipes from high-efficiency woven fabric outer tubes to latex elastic materials . In addition, the newly developed foot pillowcase set has the effect of preventing scoliosis in addition to aesthetics. In the first half of the year, the proportion of product revenue was 35% for household items, 33% for kitchen supplies, 21% for electronic appliances, and 11% for body care.
Kathy-KY said that the new generation of COPPER CHEF BLACK DIAMOND black diamond pot sets has begun shipping. The gas-fired oven for electrical appliances will be sold all the way from North America to Europe, and is currently preparing to enter the Japanese market and the Taiwan market. In addition, this year’s new products will be warmed up, including smokeless baking trays, multi-function hand tools, multi-function reading glasses, FIF tool sets, POWER BED adjustable inflatable mattresses, blackhead acne removers, UNI-LID multifunction Fresh-keeping cover, anti-bend health socks, etc., there are still many new products launched in the second half of the year.