Financial Performance - The company's revenue and profit both recorded a double-digit decline due to geopolitical tensions, persistent inflation, and multiple interest rate hikes, leading to a challenging overall performance in 2023 [2]. - The company's revenue for the fiscal year ending December 31, 2023, was HKD 3,450,954,000, a decrease of 23.3% from HKD 4,501,532,000 in 2022 [45]. - Gross profit for 2023 was HKD 700,717,000, down from HKD 989,106,000 in the previous year, reflecting a decline of 29.1% [45]. - The net loss for the year was HKD 1,765,000, significantly improved from a loss of HKD 252,722,000 in 2022 [47]. - Basic and diluted earnings per share for 2023 were HKD 0.13 cents, compared to a loss of HKD 3.89 cents per share in 2022 [47]. - The total comprehensive loss for the year was HKD 252,003,000, compared to HKD 962,109,000 in 2022, indicating a significant reduction in losses [52]. - The overall business revenue decreased by 30.65% compared to last year, with a significant drop in profit margin exceeding 83% [104]. - The company reported a basic earnings per share of HKD 0.13, compared to a basic loss per share of HKD 3.89 in 2022 [131]. Dividends - The company decided not to recommend a final dividend for the year ending 2023, compared to a dividend of HKD 0.02 per share in 2022 [18]. - The company decided not to recommend a final dividend for the year ending December 31, 2023, compared to a dividend of HKD 0.02 for the year ending 2022 [23]. - The company will not declare an interim dividend for 2023, compared to an interim dividend of HKD 0.5 per share in 2022 [132]. Assets and Liabilities - The company's equity attributable to shareholders decreased by 3.23% to HKD 7,411,477,000 compared to HKD 7,658,694,000 at the end of 2022 [7]. - Non-current liabilities increased significantly due to new loans from major shareholders and banks, while current liabilities decreased due to repayments [8]. - The company's liquidity position as of December 31, 2023, included cash and short-term bank deposits of HKD 1,713,152,000 [160]. - The company's bank and other borrowings amounted to HKD 1,388,558,000 [109]. - The total trade and other receivables amounted to HKD 899,827,000, net of credit loss provisions of HKD 57,374,000, compared to HKD 946,632,000 and HKD 54,684,000 in 2022 [123]. Operational Performance - The rental rates for Shenzhen Aerospace Technology Plaza improved significantly, with commercial space at 72.90% and office space at 41.00% as of December 31, 2023, compared to 39.40% and 32.70% respectively in 2022 [19]. - The company has made significant investments in technology innovation and R&D, achieving breakthroughs in various fields, including 3D touch technology and 5G millimeter-wave filter development [17]. - The company is actively managing risks and expanding its customer base to navigate the ongoing economic challenges [4]. - The company plans to enhance production automation, optimize product quality, and reduce costs to improve profitability in the challenging operating environment of 2024 [4]. - The company is actively optimizing its business and product structure to respond to market demands and trends amid intense industry competition [126]. Research and Development - The company is actively involved in R&D for high-tech products, including the development of 5G millimeter wave filter chips [167]. - The company continues to assist industrial enterprises in upgrading manufacturing capabilities and smart factory transformations [167]. - Research and development expenses increased to HKD 162,388,000 from HKD 155,523,000, reflecting a growth of 4.4% [45]. Employee and Governance - As of December 31, 2023, the company and its subsidiaries had approximately 7,200 employees distributed across Mainland China, Hong Kong, and Vietnam [32]. - The company has maintained compliance with the Corporate Governance Code throughout 2023 [34]. - The Audit Committee consists of independent non-executive directors and is responsible for reviewing the company's financial information and monitoring internal controls [38]. - The company has established an Environmental, Social, and Governance Committee to formulate relevant policies and report matters [22]. Market and Segment Performance - The company's revenue from the technology sector for the year ending December 31, 2023, was HKD 3,234,653,000, a decrease of 22.63% compared to the previous year [103]. - Operating profit from the technology sector was HKD 57,773,000, a significant decrease of 72.81% year-on-year [103]. - Total external sales for the technology industry injection products reached HKD 1,412,413, with a segment performance of HKD 37,196 [61]. - The LCD segment generated external sales of HKD 716,845, contributing HKD 63,498 to segment performance [61]. - The PCB segment reported external sales of HKD 872,700, with a segment performance of HKD 22,438 [61]. - The smart charger segment had external sales of HKD 216,605, resulting in a segment loss of HKD 17,876 [61]. - The aerospace services segment, specifically the Shenzhen Aerospace Technology Plaza property investment, generated external sales of HKD 310,268, contributing HKD 389,340 to segment performance [62]. Future Plans - The company plans to strengthen market development and adjust market expansion strategies in response to ongoing economic challenges [98]. - The company will continue to enhance innovation investments to ensure major projects progress in an orderly manner [98]. - The company plans to continue exploring and implementing new business development opportunities to create value for shareholders [151]. - The company is advancing its "14th Five-Year" development plan, focusing on high-quality development and innovation-driven strategies [125].

Financial Performance - The company's unaudited revenue for the six months ended June 30, 2023, was HKD 1,733,548,000, a decrease of 29.58% compared to HKD 2,461,773,000 in the same period of 2022[7]. - The company reported a profit of HKD 55,065,000 for the period, compared to a loss of HKD 164,662,000 in the same period of 2022[7]. - The company's earnings per share for shareholders was HKD 0.0148, recovering from a loss of HKD 0.0233 per share in the same period of 2022[7]. - The profit attributable to shareholders was HKD 45,506,000, recovering from a loss of HKD 71,994,000 in the same period of 2022[14]. - The revenue from the technology industry was HKD 1,631,275,000, a decrease of 27.02% from HKD 2,235,234,000 in the same period of 2022[19]. - The operating profit from the technology industry was HKD 36,201,000, down 66.50% from HKD 108,072,000 in the same period of 2022[19]. - The revenue from the circuit board business decreased by 38.61%, with major customer orders dropping by approximately 30%[22]. - The company reported a total revenue of HKD 99,260,000 for the first half of 2023, a decrease from HKD 222,384,000 in the same period of 2022[27]. - Gross profit for the same period was HKD 349,016, down 40.9% from HKD 589,531 year-over-year[39]. - The net profit for the six months ended June 30, 2023, was HKD 55,065, a significant recovery from a loss of HKD 164,662 in the prior year[40]. - The company's total assets decreased by 5.04% to HKD 14,495,698,000 as of June 30, 2023, from HKD 15,265,828,000 at the end of 2022[29]. - Shareholders' equity attributable to the company decreased by 4.17% to HKD 7,339,492,000 compared to HKD 7,658,694,000 at the end of 2022[33]. - The company's total liabilities decreased to HKD 2,040,878 from HKD 2,125,969 year-over-year[48]. - The company recorded a pre-tax profit of HKD 6,000,000 for the six months ended June 30, 2023, compared to a pre-tax loss of HKD 112,268,000 for the same period in 2022, indicating a turnaround[78]. - The company reported a total comprehensive expense of HKD 397,658,000 for the six months ended June 30, 2023, compared to HKD 407,024,000 for the same period in 2022, reflecting a decrease of approximately 1.0%[63]. Operational Developments - The company is focusing on advanced manufacturing, modern services, and high-tech industries, optimizing resource allocation and developing new projects[11]. - The company plans to increase production capacity for high-density printed circuit boards by 240,000 square meters annually by 2025[11]. - The company is actively engaging with multiple clients for its smart power module packaging business, achieving expected product quality rates[11]. - The company plans to enhance market development efforts and adjust market expansion directions to meet its operational goals set at the beginning of the year[12]. - The company will continue to focus on the construction of the Nantong Kangyuan integrated circuit packaging board capacity project and the industrial park phase five factory construction, expected to be completed in October 2023[12][23]. - The company aims to improve operational efficiency and return value to shareholders amid a challenging external environment[12]. - The company has initiated a new reporting segment focused on smart power module business, expanding its operational divisions from 6 to 7[74]. - The company plans to continue its market expansion and product development strategies in the aerospace services sector[74]. Rental and Property Management - The rental income for the group is recognized after accounting for rent-free periods and is expected to be realized after the effective rent payment exceeds the actual rent[4]. - The rental rate for Shenzhen Aerospace Technology Plaza was 43.87% as of June 30, 2023, an increase of 11.17% compared to the end of the previous year[9]. - In the first half of 2023, Shenzhen Aerospace recorded a rental rate of 73.81% for commercial properties and 43.87% for office buildings, compared to 39.40% and 32.70% respectively at the end of 2022[27]. - As of June 30, 2023, the estimated value of Shenzhen Aerospace Technology Park was approximately RMB 7,851,000,000, slightly down from RMB 7,860,000,000 at the end of 2022[28]. - The company signed a construction contract for a factory project with a cost of RMB 316,859,999.99 (approximately HKD 358,889,556), expected to be completed by late May 2024[23]. Governance and Compliance - The Audit Committee consists of two independent non-executive directors and one non-executive director, responsible for overseeing financial reporting and risk management[104]. - The company has established an Environment, Social, and Governance Committee to formulate relevant policies[107]. - The company has adhered to the Corporate Governance Code as of June 30, 2023, with no significant litigation or arbitration involving the company or its subsidiaries[121]. - The audit committee has reviewed and approved the unaudited condensed consolidated financial statements for the six months ended June 30, 2023[124]. Employee and Community Engagement - The company expresses gratitude to all employees for their hard work and loyalty, as well as to shareholders, banks, business partners, and the community for their support[131]. - As of June 30, 2023, the company and its subsidiaries employed approximately 7,100 staff across mainland China, Hong Kong, and Vietnam[118]. Legal Matters - The company has received court rulings related to multiple lawsuits, including a judgment requiring payment of approximately RMB 98.65 million in rental fees[110]. - The company is appealing court decisions regarding the lawsuits, believing the likelihood of winning is high[115]. - Shenzhen Aerospace withdrew a claim for property vacancy loss of approximately RMB 76 million in a lawsuit against Hangke Houhai[128]. - The court ruled that Hangke Houhai must return rental payments totaling RMB 4,935,516.58 to Shenzhen Aerospace[128].

Financial Performance - In 2022, the company recorded a revenue of approximately HKD 310,268,000 from property leasing and management, a decrease from HKD 440,370,000 in 2021[13] - For the year ended December 31, 2022, the company's revenue was HKD 4,501,532,000, a decrease of 5.14% compared to HKD 4,745,367,000 in 2021[24] - The company reported a loss of HKD 252,722,000 for the year, a significant decline from a profit of HKD 403,214,000 in 2021[24] - The loss attributable to shareholders was HKD 119,918,000, compared to a profit of HKD 345,764,000 in the previous year[24] - Basic loss per share was HKD 0.0389, a substantial decrease from earnings of HKD 0.1121 per share in 2021[24] - The decrease in revenue was primarily due to reduced rental income from Shenzhen Aerospace, resulting in impairment losses totaling approximately HKD 718,138,000[38] - The technology industry segment generated revenue of HKD 4,180,912,000, a decrease of 2.51% from HKD 4,288,768,000 in 2021, while operating profit increased by 12.12% to HKD 212,488,000[26] - The PCB business saw a significant profit increase of 58.25%, despite a revenue decline of 5.71% to HKD 1,258,426,000[45] - The smart charger business experienced a revenue drop of 10.15% to HKD 378,380,000, but profit increased by 43.46% to HKD 10,372,000 due to improved cost management[45] - The LCD business revenue grew nearly 4% to HKD 1,104,540,000, but profit decreased by approximately 11% to HKD 51,265,000 due to industry cycle changes and geopolitical factors[45] Investment and Innovation - The company invested in technology innovation and R&D, achieving notable results, including advancements in 3D touch modules and fingerprint recognition technology[15] - The company is investing in advanced manufacturing capabilities, including the construction of a new factory in Huizhou with a total area of approximately 41,000 square meters, expected to be completed by October 2023[29] - The company emphasized the importance of technological innovation as a key driver for future growth and development[15] - The company’s smart research institute has made progress in developing 5G millimeter-wave filter chips, moving towards industrialization[42] - The company plans to enhance production automation and R&D capabilities while actively exploring new markets and managing risks in 2023[44] Environmental Impact - In 2022, the company's direct greenhouse gas emissions (Scope 1) were 1,059 tons of CO2 equivalent, a significant decrease from 63,273 tons in 2021[67] - The company's energy indirect emissions (Scope 2) increased to 148,933 tons of CO2 equivalent in 2022, up from 103,703 tons in 2021[67] - The density of greenhouse gas emissions per employee decreased slightly from 26.7 tons to 26.2 tons of CO2 equivalent per employee[67] - The company strictly adheres to environmental regulations regarding waste management, pollutant discharge, and noise emissions, implementing energy management systems and waste management controls[63][64] - The company has established measures to ensure compliance with various environmental laws, including the Air Pollution Prevention Law and the Solid Waste Pollution Prevention Law[65] - The company emphasizes the importance of proper waste management to prevent negative impacts on the local ecological environment and stakeholder interests[70] - The company has implemented a wastewater treatment system to increase water reuse rates and reduce wastewater discharge[63] - In 2022, sulfur oxide emissions increased to 18.02 kg, up from 8.13 kg in 2021, indicating a need for improved emissions management[66] - The company aims to reduce greenhouse gas emissions by 3% compared to the previous year and to recycle 10% of waste originally destined for landfills[72] - The total electricity consumption decreased from 167,225.9 thousand kWh in 2021 to 147,573.0 thousand kWh in 2022, a decrease of 11.7%[79] - The use of natural gas increased from 1,766.9 thousand kWh in 2021 to 1,989.4 thousand kWh in 2022, an increase of 12.6%[79] - The company has achieved ISO 14001 environmental management system certification and conducts regular third-party audits[80] - The density of hazardous waste per employee increased from 0.43 tons in 2021 to 0.60 tons in 2022, a rise of 39.5%[76] - The company has implemented measures to improve waste gas collection efficiency, resulting in increased monitoring capabilities[72] - The company is committed to disclosing key performance indicators related to emissions and waste generation in annual reports[76] - Total water consumption decreased from 2,003,926 tons in 2021 to 1,536,353 tons in 2022, representing a reduction of approximately 23.3%[88] - Water consumption density per employee improved from 320.8 tons/employee in 2021 to 268.8 tons/employee in 2022, a decrease of about 16.2%[88] - Total packaging material used increased from 2,715 tons in 2021 to 5,351 tons in 2022, an increase of approximately 97.5%[88] Workforce and Employment - The number of male employees decreased from 3,726 in 2021 to 3,332 in 2022, a reduction of approximately 10.6%[100] - The number of female employees decreased from 2,520 in 2021 to 2,383 in 2022, a decline of about 5.4%[100] - In 2022, the total number of employees decreased to 5,715 from 6,246 in 2021, indicating a significant reduction in workforce[121] - The number of workdays lost due to work-related injuries increased to 663 days in 2022, compared to 323 days in 2021[117] - Employee diversity and equal opportunity are emphasized, with a focus on fair recruitment practices regardless of age, gender, or background[91] - Employee training participation remained high, with 100% of employees trained in both 2021 and 2022, although the average training hours varied across employee categories[108] - The employee turnover rate increased significantly in 2022, attributed to challenges in recruitment and an aging workforce in the traditional manufacturing sector[112] - The company has implemented a comprehensive occupational health and safety management system, with regular assessments and training for safety protocols[107] - No fatalities occurred due to work-related incidents over the past three years, maintaining a strong safety record[117] - The company adheres to labor standards, ensuring no employment of child labor and compliance with relevant labor laws[120] Governance and Compliance - The company plans to increase the proportion of female directors on its board from 12.5% to over 20% by 2025[165] - The company held five board meetings in 2022, adhering to its governance policies[164] - The company has established measurable targets for gender diversity in its board composition[165] - The company is committed to maintaining compliance with listing rules regarding board composition and independent directors[173] - The company has implemented measures to review recruitment practices to avoid child and forced labor[43] - The company is focused on enhancing its environmental and social governance practices, including waste reduction and resource efficiency[171] - The company is actively monitoring and managing its environmental impact, including greenhouse gas emissions and waste management[171] - The company has implemented mechanisms to prevent bribery, extortion, fraud, and money laundering, ensuring compliance with various laws related to supply chain management[143] - The company has established a product quality inspection method that includes incoming inspection, in-process inspection, and outgoing inspection to ensure product safety[137] - The company has committed to using environmentally friendly materials in its supply chain to mitigate environmental and social risks[127] - The company’s subsidiaries have received various international certifications, including ISO9001 and ISO14001, demonstrating their commitment to quality and environmental management[137] Shareholder Returns - A final dividend of HKD 0.02 per share was declared for the year 2022 to reward shareholders[25] - The company plans to distribute a final dividend of HKD 0.02 per share for the year 2022, pending approval at the annual general meeting on June 21, 2023[113] - The company received dividends totaling approximately RMB 2,945,800 from its associate company, Shenzhen Ruihua Tai Film Technology Co., Ltd., which it holds a 23.38% stake in[167] Assets and Liabilities - Total assets decreased by 9.50% to HKD 15,265,828,000 as of December 31, 2022, compared to HKD 16,869,162,000 in 2021[182] - Non-current liabilities decreased significantly by 21.94% to HKD 3,321,318,000, while current liabilities increased by 21.90% to HKD 2,159,847,000[185] - The company's net asset value per share is HKD 2.48, reflecting a decrease due to losses incurred during the year[183] - Gross profit margin declined to 21.97% from 22.65% year-on-year[189] - Cash and bank balances as of December 31, 2022, amounted to HKD 2,021,327,000, primarily in HKD and RMB[190] - Administrative expenses increased by 8.37% to HKD 451,894,000, mainly due to rising labor costs and depreciation[196] - The company has no significant contingent liabilities other than those mentioned, related to a claim from a major tenant[186] - The company is actively working on improving property rental rates through partnerships and enhanced marketing efforts[180] - The company has pledged properties valued at approximately RMB 1,900,000,000 to secure a loan of RMB 1,300,000,000[193] - Return on equity decreased to -2.58% from 3.72% year-on-year[199]

Financial Performance - The company's revenue for the fiscal year ended December 31, 2022, was HKD 4,501,532, a decrease of 5.1% compared to HKD 4,745,367 in 2021[2] - Gross profit for the same period was HKD 989,106, down from HKD 1,074,660, reflecting a gross margin decline[2] - The company reported a net loss attributable to shareholders of HKD 652,295, compared to a profit of HKD 523,839 in 2021[3] - The company reported a pre-tax loss of HKD 325,723,000 for 2022, compared to a profit of HKD 486,102,000 in 2021[21] - The net loss attributable to shareholders for the year was HKD 119,918,000, down from a profit of HKD 345,764,000 in 2021[21] - The company reported a comprehensive income of HKD (962,109,000) for the year, compared to HKD 642,623,000 in 2021[22] - The company reported a loss of HKD 252,722,000 for the year, a significant decline from a profit of HKD 403,214,000 in 2021[38] - Basic loss per share was HKD 3.89 cents, down from earnings of HKD 11.21 cents per share in 2021[38] Assets and Liabilities - Total assets decreased to HKD 13,105,981 from HKD 15,097,341, while current liabilities increased to HKD 2,159,847 from HKD 1,771,821[4] - The company’s total equity attributable to shareholders decreased to HKD 7,658,694,000 in 2022 from HKD 8,388,114,000 in 2021[24] - The total liabilities decreased by 9.05% from HKD 6,026,396,000 in 2021 to HKD 5,481,165,000 in 2022[79] - The company's reserves decreased to HKD 6,504,183,000 in 2022 from HKD 7,233,603,000 in 2021[135] - The company's debt-to-asset ratio increased slightly to 35.90% in 2022 from 35.72% in 2021[119] Income and Revenue Streams - The company received government subsidies related to COVID-19 amounting to HKD 2,272, which was not present in the previous year[9] - The rental income from Shenzhen Aerospace Technology Plaza decreased significantly due to the impact of the COVID-19 pandemic[42] - Revenue from injection molding products was HKD 1,430,081,000, a decrease of 2.02% from HKD 1,459,512,000 in 2021[100] - Revenue from PCB (printed circuit board) was HKD 1,258,426,000, a decrease of 5.71% from HKD 1,334,669,000 in 2021[100] - Revenue from smart chargers was HKD 378,380,000, a decrease of 10.15% from HKD 421,123,000 in 2021[100] Research and Development - Research and development expenses rose to HKD 155,523 from HKD 140,236, indicating increased investment in innovation[2] - The company emphasized ongoing investment in technology innovation and R&D, achieving significant results in 2022[19] - The company established a wholly-owned subsidiary, Zhizhao Microelectronics, to develop packaging production lines for intelligent power modules (IPM)[74] - The company established the Smart Research Institute in 2021, focusing on high-tech product development, achieving significant progress in the R&D of 5G millimeter wave filter chips[173] Legal and Compliance Issues - The company is currently involved in litigation with a claim amounting to approximately RMB 119 million related to delayed property delivery[11] - The company is actively pursuing legal claims related to rental income and damages, totaling approximately RMB 252.91 million across multiple lawsuits[92][93] - The company believes that the litigation claims can be successfully defended without significant economic resource outflow[97] - The company has complied with all relevant listing rules and corporate governance codes as of December 31, 2022[128] Future Outlook and Strategy - The company anticipates economic recovery in 2023, but faces uncertainties due to geopolitical changes and ongoing inflationary pressures[47] - The company aims to enhance production automation and R&D capabilities to adapt to the changing market environment[47] - The company plans to focus on high-value-added products and modern manufacturing, including advanced PCB and LCD technologies[67] - The company plans to build a high-precision PCB factory on a 131,666 square meter industrial site in Jiangsu Province to further enhance production capacity[74] - The company plans to invest in advanced manufacturing capabilities, including the construction of a new factory in Huizhou with a contract value of approximately HKD 104,381,458, expected to be completed by October 2023[172] Operational Challenges - The company faced significant challenges in 2022 due to the ongoing COVID-19 pandemic and economic instability, impacting operations[17] - The injection molding business faced challenges due to the pandemic and global inflation, leading to a substantial decline in overall operating profit[85] - The intelligent charger business experienced a significant revenue decline due to major customers reducing orders, but overall profitability improved by 43.46% through cost control measures[74] - The smart charger business, despite negative impacts from COVID-19 and trade disputes, managed to increase operational profit through product structure adjustments and increased R&D investment[85] Dividend and Shareholder Information - The company proposed a final dividend of HKD 0.02 per share for the year ended December 31, 2022, pending approval at the upcoming annual general meeting[35] - The company declared a final dividend of HKD 0.02 per share for the year ended 2021, with interim dividends of HKD 0.005 per share for the first half of 2022[170] - The company’s basic and diluted earnings per share were calculated based on the financial data provided, with dividends declared amounting to HKD 77,125,000 for the year[146]

Financial Performance - For the first half of 2022, the company's unaudited revenue was HKD 2,461,773,000, an increase of 14.11% compared to HKD 2,157,342,000 in the same period of 2021[4]. - The company reported a loss of HKD 164,662,000 for the period, a significant decrease from a profit of HKD 315,028,000 in the same period of 2021[4]. - The revenue from industrial enterprises was HKD 2,235,234,000, up 15.70% from HKD 1,931,854,000 in the same period of 2021[6]. - Operating profit for industrial enterprises was HKD 108,072,000, an increase of 52.68% compared to HKD 70,784,000 in the same period of 2021[6]. - The company reported a segment profit of HKD 220,781,000, up 34.06% from HKD 164,796,000 in the first half of 2021, primarily driven by rental and property management fee income[21]. - The company reported a pre-tax loss of HKD 276,930,000 for the six months ended June 30, 2022, compared to a pre-tax profit in the previous year[88]. - The group reported a loss attributable to shareholders of HKD (71,994) for the six months ended June 30, 2022, compared to a profit of HKD 258,768 in the same period of 2021[107]. - The net loss for the period was HKD 164,662,000, compared to a profit of HKD 315,028,000 in the previous year, indicating a significant decline in profitability[64]. Revenue Breakdown - The revenue from the technology industry segment was HKD 2,235,234,000, representing a 15.70% increase compared to HKD 1,931,854,000 in the same period of 2021[18]. - The aerospace services segment generated revenue of HKD 222,827,000, with a substantial profit of HKD 220,781,000, indicating strong performance in property investments[88]. - Revenue from external sales in Hong Kong was HKD 1,356,583,000, while revenue from mainland China was HKD 903,424,000, showing a diversified revenue stream[98]. - The revenue from customer contracts amounted to HKD 2,273,345,000, with rental income contributing an additional HKD 188,428,000[96]. - The company's profit from the technology industry segment included HKD 61,164,000 from circuit boards and HKD 27,540,000 from LCD displays[88]. Dividends and Shareholder Returns - The interim dividend declared is HKD 0.005 per share[4]. - The company announced an interim dividend of HKD 0.005 per share, considering its financial and cash position[16]. - The company declared an interim dividend of HKD 0.5 per share for the six months ended June 30, 2022, totaling HKD 15,425,000, compared to no interim dividend in 2021[108]. Assets and Liabilities - As of June 30, 2022, the total assets amounted to HKD 15,800,952,000, a decrease of 6.33% from HKD 16,869,162,000 at the end of 2021[24]. - The company's equity attributable to shareholders decreased by 5.24% to HKD 7,948,323,000 from HKD 8,388,114,000 at the end of 2021, mainly due to losses incurred during the period[25]. - Non-current liabilities decreased significantly by 20.89% to HKD 3,365,613,000, while current liabilities increased by 26.74% to HKD 2,245,590,000[28]. - The total liabilities decreased to HKD 10,189,749 from HKD 10,842,766, a reduction of 6.0%[70]. - The group’s total liabilities for trade and other payables were HKD 1,482,288,000 as of June 30, 2022, compared to HKD 1,495,937,000 as of December 31, 2021[129]. Expenses - The administrative expenses for the first half of 2022 were HKD 258,598,000, an increase of 18.66% compared to the same period in 2021, primarily due to rising labor costs and depreciation[30]. - Research and development expenses rose to HKD 77,472,000, compared to HKD 70,062,000, marking an increase of 10.5%[63]. - The group’s depreciation expense for property, plant, and equipment increased to HKD 119,545 for the six months ended June 30, 2022, compared to HKD 94,263 in the same period of 2021[103]. Impairment and Losses - The company reported a significant loss from terminated leases amounting to HKD 444,226,000, compared to a gain of HKD 200,861,000 in the previous year[63]. - An additional impairment loss of HKD 175,882,000 was recognized for receivables from Hangke Houhai, reflecting a shift in internal credit risk assessment from doubtful to loss[80]. - The group recognized an additional impairment loss of HKD 175,882,000 for expected credit losses related to receivables from Hangke Houhai, which was classified as a loss due to internal credit risk rating changes[124]. Market Conditions and Future Outlook - The company anticipates ongoing challenges from the COVID-19 pandemic, inflation, and geopolitical uncertainties in the second half of 2022[20]. - The company aims to enhance its market presence and explore new strategies for growth in the upcoming periods[88]. - The company continues to focus on market expansion and risk management while controlling production costs and maintaining production scale and capacity[20]. Governance and Compliance - The company has complied with the Corporate Governance Code as of June 30, 2022, despite a temporary reduction in the number of independent non-executive directors[45]. - The audit committee reviewed and approved the unaudited condensed consolidated financial statements for the six months ended June 30, 2022[49]. - The company has appointed Ms. Chen Jingru as an independent non-executive director, enhancing its governance structure[56].

Financial Performance - For the year ended December 31, 2021, the company's revenue was HKD 4,745,367,000, an increase of 32.55% compared to HKD 3,580,121,000 in 2020[12]. - The net profit attributable to shareholders was HKD 345,764,000, representing a 16.54% increase from HKD 296,681,000 in 2020[12]. - The gross profit margin decreased from 27.02% in 2020 to 22.65% in 2021 due to rising production costs[12]. - Basic earnings per share for the year were HKD 0.1121, representing a 16.53% increase from HKD 0.0962 in 2020[27]. - The company recorded an increase in total liabilities of 3.35% to HKD 6,026,396,000, with current liabilities rising by 9.21% to HKD 1,771,821,000[39]. - The company's equity attributable to shareholders increased by 5.83% to HKD 8,388,114,000, with a net asset value per share of HKD 2.72 based on 3,085,022,000 shares issued[38]. - The company reported a final dividend of HKD 0.02 per share for the year ended December 31, 2021, consistent with the previous year[167]. Revenue Segments - The technology industry segment recorded revenue of HKD 4,288,768,000, a 34.67% increase from HKD 3,184,620,000 in 2020[15]. - The Shenzhen Aerospace Technology Plaza's revenue was HKD 440,370,000, up 14.30% from HKD 385,261,000 in 2020[17]. - The company's revenue for the technology industry reached HKD 4,288,768,000, an increase of 34.67% compared to the previous year, while operating profit decreased by 13.14% to HKD 189,519,000[32]. Challenges and Strategies - The company faced challenges such as supply chain disruptions and rising commodity prices but managed to achieve significant revenue growth through market expansion efforts[15]. - The company aims to enhance its market expansion efforts and increase investment in R&D and production capacity to improve competitiveness[21]. - The company is focusing on developing advanced manufacturing, modern services, and high-tech industries as part of its five-year strategic plan[29]. Human Resources and Employee Management - The company had a total of approximately 6,811 employees distributed across mainland China, Hong Kong, and Vietnam as of December 31, 2021[48]. - The company is committed to enhancing human resource management and implementing a performance-based assessment system to improve employee performance[47]. - The employee turnover rate for those under 30 years old increased significantly, with many young employees opting for emerging industries like IT[126]. - The percentage of trained employees remained at 100% for both male and female employees in 2021, with average training hours per employee decreasing significantly across various categories[131]. Corporate Governance - The board of directors consists of both executive and non-executive members, ensuring compliance with the corporate governance code as per the Hong Kong Stock Exchange[52]. - The company has adopted the standard code for securities trading by directors and employees, prohibiting trading during specified periods before financial results announcements[58]. - The company has a structured approach to board meetings, with attendance records indicating active participation by directors[59]. - The company has implemented a risk management and internal control system, regularly evaluating its effectiveness and making necessary adjustments[79]. Environmental, Social, and Governance (ESG) Initiatives - The Environmental, Social, and Governance (ESG) Committee was established on March 30, 2021, and held two meetings to discuss ESG policies and reporting matters[73]. - The company has achieved ISO 14001 environmental management system certification to systematically manage and improve environmental impacts[119]. - The company has implemented measures to minimize waste and pollution, focusing on resource efficiency and the use of renewable energy[116]. - The company reported a total emissions of sulfur oxides decreased significantly to 8.13 kg from 145.24 kg in 2020, representing a reduction of approximately 94.4%[110]. Community Engagement and Social Responsibility - The company allocated RMB 6,000 for community investment and dedicated 300 hours to charitable activities in 2021[147]. - The company emphasizes the importance of anti-corruption training for employees, including directors and senior management, to foster a healthy corporate culture[146]. - The report includes key performance indicators related to emissions, resource usage, and community engagement[150]. Audit and Financial Reporting - The independent auditor has issued an unqualified opinion on the consolidated financial statements, affirming they present a true and fair view of the company's financial position as of December 31, 2021[189]. - The auditors assessed the appropriateness of accounting policies adopted by the directors and the reasonableness of accounting estimates and related disclosures[200]. - The company is responsible for preparing consolidated financial statements that are true and fair in accordance with Hong Kong Financial Reporting Standards[197].

Financial Performance - The company's revenue for the six months ended June 30, 2021, was HKD 2,157,342,000, an increase of 43.18% compared to HKD 1,506,717,000 in the same period of 2020[5] - The profit for the period was HKD 315,028,000, a significant increase of 114.02% from HKD 147,194,000 in the same period of 2020[5] - Shareholders' profit attributable to the company was HKD 258,768,000, up 122.17% from HKD 116,472,000 in the same period of 2020[5] - For the six months ended June 30, 2021, the company's unaudited revenue was HKD 2,157,342,000, an increase of 43.18% compared to HKD 1,506,717,000 in the same period of 2020[15] - The profit attributable to shareholders for the period was HKD 258,768,000, a significant increase of 122.17% from HKD 116,472,000 in the same period of 2020[16] - The gross profit for the same period was HKD 535,500,000, compared to HKD 440,820,000 in the previous year, indicating a year-on-year increase of about 21.5%[57] - The profit before tax for the six months ended June 30, 2021, was HKD 408,503,000, significantly higher than HKD 108,403,000 in the prior year, reflecting an increase of approximately 276.5%[57] - The net profit from continuing operations for the period was HKD 315,028,000, compared to HKD 93,735,000 in the same period last year, marking a substantial increase of around 236.5%[57] - Total comprehensive income for the period amounted to HKD 380,638,000, compared to a loss of HKD 5,096,000 in the previous year, indicating a substantial turnaround[60] Revenue Segmentation - The revenue from the technology industry segment was HKD 1,931,854,000, representing a 48.89% increase from HKD 1,297,507,000 in the same period of 2020[8] - Total revenue from the technology industry segment reached HKD 1,975,262,000, with a segment profit of HKD 70,784,000 for the six months ended June 30, 2021[75] - Revenue from manufacturing products, including injection molded products, LCD displays, circuit boards, and smart chargers, totaled HKD 1,925,983,000 for the six months ended June 30, 2021[85] - Revenue from external customers in Hong Kong was HKD 1,064,611,000, while revenue from mainland China was HKD 907,258,000 for the six months ended June 30, 2021[86] Investments and Future Plans - The company plans to invest in a new factory for high-performance polyimide films, with construction progressing and expected to enter trial production in the second half of 2022[12] - The company is increasing investment in high-tech product R&D, with ongoing development of smart power module packaging technology[9] - The company has completed the first phase of construction for its factory in Vietnam, which is expected to attract customers relocating from China[22] - The company will continue to explore new business opportunities to create value for shareholders[19] Assets and Liabilities - Total assets increased by 3.19% to HKD 16,630,454,000 as of June 30, 2021, compared to HKD 16,116,764,000 at the end of 2020[28] - Current liabilities increased by 12.59% to HKD 1,826,639,000, primarily due to rising inventory and corresponding trade payables[30] - The total liabilities as of June 30, 2021, were HKD 6,049,531,000, up from HKD 5,831,026,000 as of December 31, 2020, indicating a rise of about 3.7%[90] - The company's total equity attributable to shareholders reached HKD 8,171,314,000, compared to HKD 7,925,975,000 at the end of 2020, indicating an increase of 3.1%[63] Cash Flow and Financial Position - The net cash inflow from operating activities for the six months ended June 30, 2021, was HKD 120,407,000, a decrease of 6.3% compared to HKD 129,050,000 for the same period in 2020[66] - The net cash outflow from investing activities was HKD 267,403,000, significantly higher than HKD 149,502,000 in the previous year, indicating increased investment in property, machinery, and equipment[66] - The total cash and cash equivalents as of June 30, 2021, amounted to HKD 1,650,749,000, compared to HKD 1,210,485,000 at the end of June 2020, reflecting a strong liquidity position[69] Corporate Governance and Compliance - The company maintained compliance with the corporate governance code during the reporting period[43] - The audit committee has reviewed and approved the unaudited condensed consolidated financial statements for the six months ended June 30, 2021, ensuring compliance with relevant regulations[47] - The company has established an Environmental, Social, and Governance (ESG) committee to formulate policies and report on ESG matters, indicating a commitment to sustainable practices[50] - The company has adopted the Corporate Governance Code to ensure that all directors comply with securities trading standards, promoting transparency and accountability[45] Shareholder Information - The company decided not to declare an interim dividend due to its development needs and financial situation[7] - The company declared a final dividend of HKD 0.02 per share for the year-end 2020, totaling HKD 61,700,000, consistent with the previous year[105] - Basic earnings per share from continuing operations increased to HKD 8.39, up from HKD 2.04, reflecting a growth of 312%[58] Risks and Challenges - The company anticipates economic recovery but acknowledges potential risks from supply chain instability and inflation pressures[24]

Financial Performance - For the year ended December 31, 2020, the company's revenue was HKD 3,580,121,000, an increase of 3.75% compared to HKD 3,450,824,000 in 2019[9] - The gross profit margin improved from 26.31% in 2019 to 27.02% in 2020[9] - Net profit attributable to shareholders decreased by 12.32% to HKD 296,681,000, down from HKD 338,350,000 in 2019[9] - The net profit for the same period was HKD 378,565,000, a decrease of 13.54% from HKD 437,858,000 in 2019[23] - Basic earnings per share for the year were HKD 0.0962, down 12.31% from HKD 0.1097 in 2019[25] Business Segments - The technology industry segment reported revenue of HKD 3,184,620,000, a growth of 5.72% from HKD 3,012,219,000 in 2019, with operating profit increasing by 14.48% to HKD 235,768,000[12] - The rental and property management business of Shenzhen Aerospace recorded revenue of HKD 385,261,000, a decrease of 9.43% from HKD 425,393,000 in 2019[15] - The revenue from the PCB segment increased by 15.70% to HKD 996,365,000, while the smart charger segment saw a decline of 14.25% to HKD 302,262,000[30] Strategic Initiatives - The company plans to enhance its market expansion efforts and strengthen R&D capabilities to improve competitiveness in 2021[19] - A new wholly-owned subsidiary was established in Vietnam to expand overseas business and increase production capacity[28] - The company aims to focus on advanced manufacturing, modern services, and high-tech industries as part of its five-year strategic plan[27] Risk Management - The company will continue to monitor the impact of the COVID-19 pandemic and macroeconomic developments to manage risks effectively[18] - The company expects to generate stable rental income from the Shenzhen Aerospace Technology Plaza, which will help mitigate risks from single business reliance[27] Corporate Governance - The board of directors has adhered to the corporate governance code and regulations throughout the reporting period[51] - The company has adopted a standard code for securities trading by directors and employees, ensuring compliance with regulations[56] - The Audit Committee held two meetings in 2020 to assess the company's internal controls, risk management, and financial reporting[62] Environmental Impact - The company reported a slight increase in emissions of nitrogen oxides and hydrochloric acid in 2020 compared to 2019, attributed to increased production volume[101] - The company has established energy management systems and pollution control procedures to comply with environmental regulations, ensuring proper treatment of wastewater and emissions[100] - The company achieved ISO 14001 environmental management system certification, indicating a commitment to reducing operational environmental impact[106] Employee Management - The company has implemented various health measures for employees during the pandemic, including flexible working hours and distribution of masks and sanitizers[46] - The company provided reasonable compensation and medical benefits to employees, ensuring a stable working environment[110] - The employee turnover rate for males increased from 39.60% in 2019 to 46.21% in 2020, while for females it rose from 36.04% to 43.31%[121] Shareholder Information - The company proposed a final dividend of HKD 0.02 per share for the year[10] - The board proposed a final dividend of HKD 0.02 per share for the year 2020, subject to shareholder approval[26] - As of December 31, 2020, the company had issued approximately 3,085,022,000 shares with a market capitalization of approximately HKD 1,403,685,000[92] Compliance and Legal Matters - The company has not reported any financial, business, or familial relationships among its directors[52] - The company has established anti-corruption regulations and has not received any complaints regarding employee misconduct in 2020[134] - The company has no significant litigation or arbitration pending as of the report date[180]

Financial Performance - For the six months ended June 30, 2020, the company's unaudited revenue was HKD 1,506,717,000, a decrease of 8.62% compared to HKD 1,648,820,000 in the same period of 2019[13]. - The profit for the period was HKD 147,194,000, down 18.64% from HKD 180,912,000 in the same period of 2019[13]. - Shareholders' profit attributable to the company was HKD 116,472,000, a decrease of 7.34% compared to HKD 125,697,000 in the same period of 2019[13]. - The company's basic earnings per share for the period was HKD 3.78 cents, a decrease of 7.13% compared to HKD 4.07 cents in the same period of 2019[22]. - The gross profit for the same period was HKD 440,209,000, slightly up from HKD 440,032,000 in the previous year, indicating a stable gross margin[65]. - The pre-tax profit for the period was HKD 161,862,000, compared to HKD 236,985,000 for the same period in 2019, indicating a decrease of approximately 31.6%[84]. - The net profit for the period was HKD 147,194,000, a decrease of 18.6% compared to HKD 180,912,000 in the same period last year[65]. Revenue Breakdown - The revenue from the technology industry was HKD 1,297,507,000, down 8.57% from HKD 1,419,146,000 in the same period of 2019[14]. - The rental income from Shenzhen Aerospace Technology Plaza was HKD 204,443,000, compared to HKD 213,987,000 in the same period of 2019[30]. - Revenue from product manufacturing was HKD 1,290,985, while property management fees contributed HKD 40,872 and logistics services added HKD 149[88]. - The technology industry segment generated external sales of HKD 1,297,507,000, while the aerospace services segment contributed HKD 204,443,000 in external sales[83]. Assets and Liabilities - The company's total assets decreased by 2.12% to HKD 14,392,878,000 as of June 30, 2020, compared to HKD 14,705,271,000 at the end of 2019[32]. - The company's total liabilities decreased by 4.83% to HKD 5,066,950,000 as of June 30, 2020, compared to HKD 5,324,285,000 at the end of 2019[34]. - The company's equity attributable to shareholders was HKD 7,185,813, a decrease from HKD 7,245,792 as of December 31, 2019[71]. - The fair value of investment properties decreased to HKD 8,885,337,000 as of June 30, 2020, from HKD 9,110,037,000 as of December 31, 2019, showing a decline in property values[114]. Operational Developments - The company established a new production base in Vietnam to expand overseas markets, with a land area of approximately 52,000 square meters[15]. - The company plans to enhance property management levels at Shenzhen Aerospace Technology Plaza and expand automation production scale to strengthen market competitiveness[19]. - The company established a smart research institute to advance into new infrastructure and develop high-tech industries[28]. - The company plans to expand its operations and overseas markets, including establishing a wholly-owned subsidiary in Vietnam for injection molding products[27]. Cash Flow and Investments - The net cash generated from operating activities was HKD 200,294, a decrease of 49.3% compared to HKD 394,956 for the same period in 2019[74]. - Cash used in investing activities was HKD 220,746, compared to HKD 119,301 in the previous year, indicating increased investment outflows[74]. - The company has capital commitments of approximately HKD 156,221,000 for the acquisition of fixed assets as of June 30, 2020[40]. - The company utilized approximately HKD 69,237,000 for the purchase of property, machinery, and equipment during the period, an increase from HKD 58,908,000 in the same period of 2019[113]. Shareholder Information - The major shareholder, China Aerospace Science and Technology Corporation, holds 38.37% of the issued share capital, amounting to 1,183,598,636 shares[45]. - The company declared a final dividend of HKD 0.02 per share for the year 2019, totaling HKD 61,700,000, compared to HKD 30,850,000 for the previous year[112]. Taxation and Expenses - The total tax expenses for the six months ended June 30, 2020, amounted to HKD 31,583,000, significantly higher than HKD 11,768,000 for the same period in 2019, primarily due to an increase in corporate income tax in China[104]. - The deferred tax expense for the period was a credit of HKD 16,915,000, compared to an expense of HKD 44,305,000 in the previous year, indicating a substantial change in deferred tax liabilities[104]. - The company's administrative expenses increased to HKD 161,315,000 from HKD 161,157,000, indicating a slight rise in operational costs[65]. Market Outlook - The outlook for the second half of 2020 remains uncertain due to the ongoing impact of the COVID-19 pandemic, with a focus on reducing inventory and accounts receivable[29].

Financial Performance - For the year ended December 31, 2019, the company's revenue was HKD 3,450,824,000, a decrease of 6.50% compared to HKD 3,690,804,000 in 2018[11]. - The company's profit attributable to shareholders was HKD 338,350,000, down 16.27% from HKD 404,115,000 in 2018, with earnings per share at HKD 0.1097 compared to HKD 0.1310 in the previous year[12]. - The company reported a decrease in profit after accounting for fair value changes in investment properties, with adjusted profit attributable to shareholders at HKD 285,744,000, down 11.98% from HKD 324,642,000 in 2018[12]. - The company's profit for the year was HKD 437,858,000, down 15.83% from HKD 520,180,000 in 2018[25]. - The basic earnings per share for the year were HKD 0.1097, down 16.26% from HKD 0.1310 in 2018[26]. - The revenue from the cross-border e-commerce logistics business was approximately HKD 4,573,000, a substantial decrease of 85.92% from HKD 32,485,000 in 2018[19]. Revenue Breakdown - The industrial segment recorded revenue of HKD 3,012,219,000, a decrease of 6.89% from HKD 3,235,104,000 in 2018, with operating profit of HKD 205,945,000, down 4.09% from HKD 214,732,000[15]. - Shenzhen Aerospace Technology Plaza generated revenue of HKD 425,393,000, an increase of 1.50% from HKD 419,109,000 in 2018, while operating profit decreased by 14.78% to HKD 439,566,000[17]. - The revenue from smart chargers dropped significantly by 35.06% to HKD 352,480,000, with operating profit decreasing by 47.84%[30]. Investments and Expansion Plans - The company plans to invest in a new production base in Vietnam to expand its overseas market presence in response to customer relocations and trade tensions[15]. - The company completed the basic construction of a new LCD display module factory, laying the groundwork for future capacity expansion[16]. - The company established a wholly-owned subsidiary in Vietnam in January 2020 to expand production lines for plastic, molds, hardware, and electronic products[30]. Dividends - The board proposed a final dividend of HKD 0.02 per share for the year[13]. - The company proposed a final dividend of HKD 0.02 per share for the year ended December 31, 2019, compared to HKD 0.01 per share in 2018[173]. Corporate Governance - The board of directors consists of both executive and independent non-executive members, ensuring compliance with corporate governance standards[54]. - The company has adhered to the Hong Kong Stock Exchange's corporate governance code throughout the reporting period[54]. - The company has a structured approach to risk management and internal controls, overseen by the board of directors[58]. - The company has established a policy for securities trading by directors and senior management, prohibiting trading during specified periods[58]. - The company has confirmed the independence of its independent non-executive directors in accordance with regulatory requirements[57]. Risk Management - The company has implemented a comprehensive review of its risk management and internal control systems to address operational, market, and financial risks[92]. - The company has established a risk management and internal control system, which is evaluated annually by management to ensure its effectiveness[92]. Employee and Workforce Management - The company employs approximately 7,250 staff across mainland China and Hong Kong[51]. - The total number of employees as of December 31, 2019, was approximately 7,250, up from about 7,160 on December 31, 2018, indicating a growth of about 1.3%[121]. - Employee turnover among those under 30 increased in 2019, highlighting challenges in retaining younger workers in traditional industries[120]. - The company has established training centers to enhance employee skills and safety, reflecting its investment in workforce development[117]. Environmental and Social Responsibility - The company has maintained compliance with environmental regulations and has implemented effective risk management and internal control systems related to environmental, social, and governance (ESG) risks[102]. - The company achieved ISO 14001 environmental management system certification, demonstrating its commitment to reducing operational environmental impact[111]. - The company has implemented measures to improve manufacturing technology and reduce emissions, including compliance with regulatory requirements for wastewater monitoring[111]. Community Engagement - The company actively supports community activities and provides necessary assistance to local communities[139]. - The company focuses on community investment and participation to understand local needs and ensure business activities consider community interests[159].