香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確 性及完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 SUNWAY INTERNATIONAL HOLDINGS LIMITED 新 威 國 際 控 股 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：58） 截至二零二三年六月三十日止六個月之 中期業績公告 新威國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公 司及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經 審核中期業績，連同二零二二年同期之比較數字茲列如下： 簡明綜合損益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 （未經審核）（未經審核） 收入 5 115,611 234,174 ...

Financial Performance - The consolidated loss for the year increased by approximately 61% compared to the same period in 2021, primarily due to the impact of COVID-19 restrictions in China [6]. - Revenue from external customers for the fiscal year 2022 was HKD 451,115,000, a decrease of about 13% from HKD 515,907,000 in the previous year [10]. - The net loss from other income and expenses for the fiscal year 2022 was HKD 10,854,000, a significant change from a gain of HKD 1,131,000 in the previous fiscal year [11]. - The company reported a loss from continuing operations of HKD 45,384,000 for the year ended December 31, 2022, compared to a loss of HKD 28,124,000 in 2021, representing a 61.5% increase in losses year-over-year [62]. - Total revenue for the year ended December 31, 2022, was HKD 451,115,000, a decrease of 12.5% from HKD 515,907,000 in 2021 [164]. - Gross profit increased to HKD 105,597,000, up 9.5% from HKD 96,544,000 in the previous year [164]. - The company reported a net loss of HKD 45,384,000 for 2022, compared to a net loss of HKD 28,124,000 in 2021, representing a 61.5% increase in losses [164]. - Basic and diluted loss per share was HKD 20.82, compared to HKD 13.78 in 2021, indicating a worsening financial position [164]. - Other comprehensive loss for the year was HKD 3,317,000, compared to a gain of HKD 7,211,000 in the previous year, indicating a negative shift in overall financial performance [166]. Assets and Liabilities - Total assets decreased to HKD 421,950,000 in 2022 from HKD 529,599,000 in 2021, reflecting a decline of 20.3% [63]. - The company's net asset value decreased to HKD 203,435,000 in 2022 from HKD 252,136,000 in 2021, a decline of 19.3% [63]. - Current liabilities were HKD 194,666,000 in 2022, down from HKD 245,837,000 in 2021, indicating a reduction of 20.8% [63]. - The company's cash and cash equivalents increased to HKD 9,327,000 from HKD 2,734,000, showing a significant improvement in liquidity [168]. - The company recognized impairment losses of HKD 34,928,000 under the expected credit loss model, a substantial increase from HKD 6,123,000 in 2021 [164]. - The company reported a significant increase in trade receivables, with a change of HKD 65,774,000 in 2022, compared to a decrease of HKD 96,089,000 in 2021 [176]. Operational Overview - The company did not engage in any significant investments, acquisitions, or disposals during the year [14]. - The company anticipates that infrastructure investment will become a pillar of economic recovery in China, benefiting its business operations [7]. - The company is exploring new business opportunities to expand its scale and drive growth [27]. - The company faces significant risks in the construction materials industry, including rising raw material prices and increased competition [44]. - The main business of the company includes the manufacturing and trading of prestressed high-strength concrete piles and other concrete products [41]. - The company's subsidiaries are primarily engaged in the manufacturing and trading of various concrete products [41]. Governance and Compliance - The board of directors does not recommend the payment of a final dividend for the fiscal year [47]. - The company has not incurred any significant contingent liabilities as of December 31, 2022, and December 31, 2021 [22]. - The company has not reported any significant events after the reporting period [58]. - The company has established an audit committee to oversee financial reporting and risk management [88]. - The independent non-executive directors have confirmed their independence according to the listing rules, ensuring compliance with governance standards [103]. - The company has implemented anti-bribery and anti-corruption policies to guide employee conduct [93]. - The company has adopted a whistleblowing policy to encourage employees and third parties to report misconduct or violations confidentially [128]. - The company is committed to ensuring compliance with disclosure obligations under listing rules and applicable laws, providing equal access to information for all shareholders and potential investors [136]. Future Outlook - The company anticipates a global economic recession in 2023 due to rising inflation and geopolitical tensions, but expects a recovery in the Chinese economy following the lifting of strict COVID-19 measures [25]. - The Chinese government announced an increase in infrastructure investment in Guangdong Province to approximately RMB 840 billion in February 2023 [26]. - The company believes that the Chinese government's policies will positively impact the construction materials industry, benefiting the company [27]. - The International Monetary Fund has recently upgraded its economic forecast for China following the end of the COVID-zero policy [25]. Financial Reporting and Audit - The financial statements for the year ended December 31, 2022, were reviewed by the audit committee and comply with applicable accounting standards [88]. - The independent auditor's report states that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2022 [146]. - The company’s financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards, ensuring transparency and compliance with the Companies Ordinance [146]. - The audit report indicates that future events or conditions may cast significant doubt on the group's ability to continue as a going concern [160]. - The auditors evaluated the appropriateness of the accounting policies adopted by management and the reasonableness of accounting estimates and related disclosures [160]. Human Resources - As of December 31, 2022, the company employed approximately 378 full-time staff across management, administration, technical, and production departments in Hong Kong and mainland China [19]. - The remuneration committee reviewed the current remuneration policy and the salary range for four senior management personnel was between HKD 0 and 1,000,000 [112]. - The company secretary, Mr. Luo Jin Cai, completed no less than 15 hours of relevant professional training during the year [106]. - The board encourages continuous professional development for directors to keep them updated on regulatory changes and corporate governance [105].

香港交易及結算所有限公司及香港聯合交易所有限公司對本文件之內容概不負責，對 其準確性及完整性亦不發表任何聲明，並明確表示，概不對因本文件全部或任何部分 內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 SUNWAY INTERNATIONAL HOLDINGS LIMITED 新 威 國 際 控 股 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：58） 截至二零二二年十二月三十一日止年度之 末期業績公告 摘要 ‧ 截至二零二二年十二月三十一日止年度之收入為451,115,000港元，較去 年同期515,907,000港元減少64,792,000港元。 ‧ 截至二零二二年十二月三十一日止年度之毛利為105,597,000港元，較去 年同期96,544,000港元增加9,053,000港元。 ‧ 本公司擁有人應佔年度虧損為37,385,000港元，較去年同期24,744,000港 元增加12,641,000港元。 ‧ 本公司擁有人應佔每股虧損為20.82港仙，較去年同期13.78港仙增加7.04 港仙。 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 234,174,000, a slight increase of 1.0% compared to HKD 232,139,000 in the same period of 2021[8] - Gross profit for the same period was HKD 50,086,000, representing a gross margin of approximately 21.4%, up from HKD 45,885,000 in 2021[8] - The company reported a net loss of HKD 8,964,000 for the six months ended June 30, 2022, compared to a loss of HKD 2,105,000 in the prior year, indicating a significant increase in losses[12] - Basic and diluted loss per share was HKD 5.11, compared to HKD 1.13 in the same period of 2021[11] - Total comprehensive loss for the period was HKD 19,348,000, compared to a comprehensive income of HKD 3,858,000 in the previous year[12] - The company reported a net cash inflow from operating activities of HKD 10,928,000 for the six months ended June 30, 2022, compared to a cash outflow of HKD 1,186,000 in the same period last year[20] - The total comprehensive loss for the period was HKD 19,348,000, which includes a loss of HKD 9,175,000 and other comprehensive losses of HKD 10,384,000[18] - The group reported a revenue of HKD 234,174,000 for the sale of prestressed high-strength concrete piles and other products for the six months ended June 30, 2022, compared to HKD 232,139,000 in the same period of 2021, reflecting a slight increase of 0.9%[35] - The group incurred a pre-tax loss of HKD 9,175,000 for the six months ended June 30, 2022, compared to a loss of HKD 2,035,000 in the same period of 2021, indicating an increase in losses[48] Assets and Liabilities - Non-current assets decreased to HKD 170,785,000 as of June 30, 2022, from HKD 183,846,000 at the end of 2021[14] - Current assets decreased to HKD 306,837,000 from HKD 345,753,000, reflecting a decline in trade receivables and other receivables[14] - Current liabilities decreased to HKD 219,556,000 from HKD 245,837,000, primarily due to a reduction in trade payables[14] - As of June 30, 2022, the company's non-current liabilities decreased to HKD 25,278,000 from HKD 31,626,000 in the previous year, representing a reduction of approximately 20%[15] - The net asset value of the company as of June 30, 2022, was HKD 232,788,000, down from HKD 252,136,000, indicating a decline of about 7.7% year-over-year[15] - The company's equity attributable to owners decreased to HKD 163,699,000 as of June 30, 2022, from HKD 180,458,000, marking a decline of approximately 9.3%[18] - The company’s total liabilities decreased to HKD 25,278,000, down from HKD 31,626,000, indicating a reduction of approximately 20%[15] Cash Flow and Financing - Cash and cash equivalents increased to HKD 11,140,000 at the end of the reporting period, up from HKD 7,394,000, reflecting a net increase of HKD 3,746,000[20] - The financing activities generated a net cash inflow of HKD 600,000, a significant improvement compared to a net cash outflow of HKD 7,490,000 in the previous year[20] - The financing costs for the six months ended June 30, 2022, totaled HKD 1,619,000, up from HKD 1,425,000 in the same period of 2021, representing a rise of 13.6%[40] - As of June 30, 2022, the company's total borrowings amounted to HKD 31,377,000, with an interest rate range of 3.85% to 7.92%[90] Operational Efficiency and Strategy - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[12] - The company continues to focus on manufacturing and trading precast concrete products, which remains its core business strategy[25] - The company is exploring new business opportunities to expand its scale and drive growth[104] Legal and Compliance Issues - The company has faced significant legal proceedings related to loan defaults, including actions against multiple borrowers and guarantors[107] - The company has obtained court orders for the liquidation of several entities involved in loan agreements, indicating ongoing legal challenges[110] - The company is currently awaiting the return of half of the litigation costs from a court in Shenzhen after withdrawing claims against a borrower due to insufficient evidence[110] - Neway Financial Management is currently applying for enforcement of the court's initial judgment due to non-repayment of any amounts[115] - As of June 30, 2022, the company had no significant litigation, arbitration, or claims pending or threatened against it[126] Shareholder Information - The major shareholder, Fu Heng Group Limited, holds 73,693,706 shares, representing approximately 41.03% of the company's ordinary shares[139] - Business Century holds 12,873,166 shares, representing 7.17% of the company's equity[141] - Everun Oil Co., Limited holds 17,316,200 shares, representing 9.64% of the company's equity[141] Corporate Governance - The company has not appointed a chairman or CEO following the resignations of previous executives, which is a deviation from the corporate governance code[143] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2022[144] - The remuneration committee is responsible for reviewing and assessing the remuneration of executive directors[146] - The nomination committee is tasked with appointing new directors and ensuring the board maintains a balanced skill set[147] - The company has adopted the standard code of conduct for securities trading by directors and confirmed compliance for the six months ended June 30, 2022[148]

Financial Performance - The consolidated loss for the year increased by approximately 37% compared to the same period in 2020, primarily due to deferred tax expenses rising from a credit of about HKD 4,500,000 to an expense of about HKD 6,000,000 and an increase in sales and distribution expenses from about HKD 60,000,000 to about HKD 74,000,000[9]. - Revenue from external customers in the construction materials business reached HKD 515,907,000, a 34% increase from HKD 384,960,000 in the previous year, driven by higher sales volume of prestressed high-strength concrete piles[13]. - The company reported a significant increase in revenue for the year ending December 31, 2021, with a focus on the manufacturing and sale of prestressed high-strength concrete piles and other related products[48]. - The company reported a net loss of HKD 28,124,000 for 2021, compared to a net loss of HKD 20,514,000 in 2020, indicating a worsening financial performance[167]. - Total comprehensive loss for the year was HKD 20,913,000, a significant decline from a comprehensive income of HKD 13,345,000 in the previous year[167]. - Gross profit increased to HKD 96,544,000 in 2021, up from HKD 76,947,000 in 2020, reflecting a gross margin improvement[166]. - The company incurred a loss of HKD 19,766 thousand before tax from continuing operations, which is an improvement from a loss of HKD 21,956 thousand in the prior year[175]. Expenses and Liabilities - Administrative expenses for the fiscal year amounted to HKD 32,336,000, reflecting a 10% increase from HKD 29,371,000 in the previous fiscal year, mainly due to increased social and medical insurance costs for Chinese labor[15]. - Current liabilities rose to HKD 245,837,000 in 2021, compared to HKD 177,806,000 in 2020, reflecting increased financial obligations[169]. - Non-current liabilities increased to HKD 31,626,000 in 2021 from HKD 19,525,000 in 2020, indicating a rise in long-term debt[171]. - The company's total assets decreased to HKD 283,762,000 in 2021 from HKD 292,574,000 in 2020, showing a decline in overall asset base[169]. - Cash and cash equivalents dropped to HKD 2,734,000 in 2021 from HKD 12,985,000 in 2020, highlighting liquidity challenges[169]. Equity and Shareholder Information - As of December 31, 2021, the equity attributable to owners of the company was HKD 180,458,000, a decrease of approximately 10% from the previous year[19]. - The company's net asset value decreased to HKD 252,136,000 in 2021 from HKD 273,049,000 in 2020, indicating a decline of approximately 7.5%[71]. - The company had a distributable reserve of HKD 50,529,000 as of December 31, 2021, down from HKD 54,995,000 in 2020, a decrease of about 8.9%[64]. - The board of directors does not recommend the payment of a final dividend for the fiscal year[54]. - The company reported a total equity of HKD 180,458 thousand as of December 31, 2021, a decrease from HKD 199,977 thousand at the beginning of the year[173]. Cash Flow and Investments - Operating cash flow from continuing operations was HKD 10,488 thousand, a recovery from a cash outflow of HKD 11,308 thousand in the previous year[175]. - The company invested HKD 9,677 thousand in property, plant, and equipment, down from HKD 13,264 thousand in the previous year, indicating a reduction in capital expenditure[177]. - The company raised HKD 23,576 thousand from new borrowings, while repaying HKD 24,541 thousand in loans, resulting in a net cash outflow from financing activities of HKD 6,240 thousand[177]. - The cash and cash equivalents decreased by HKD 5,129 thousand during the year, ending at HKD 2,734 thousand compared to HKD 12,985 thousand at the beginning of the year[177]. Risk Management and Governance - The company is exposed to foreign exchange risks primarily due to its assets and liabilities denominated in Renminbi and Hong Kong dollars[29]. - The company is committed to maintaining high standards of corporate governance and has adhered to the applicable code provisions throughout the year[99]. - The board is responsible for maintaining an effective risk management and internal control system, which was reviewed and deemed sufficient and effective during the reporting year[127]. - The audit committee regularly reviews the risk management and internal control functions to ensure management's responsibilities are fulfilled[125]. - The company has established policies to ensure timely and equal disclosure of inside information to the public, adhering to securities regulations[128]. Employment and Workforce - The company employed approximately 432 full-time staff across Hong Kong and mainland China as of December 31, 2021[28]. - The salary range for two senior management personnel during the year was between HKD 0 and 1,000,000[117]. Market and Industry Outlook - The company anticipates that infrastructure investment will continue to increase in China over the coming years to support economic recovery and stabilize the job market[10]. - The company plans to benefit from the rapid economic development and provincial government initiatives to enhance transportation infrastructure in Guangdong Province[10]. - The company faces risks related to the construction materials industry, including rising raw material prices and increased competition[51]. Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2021[144]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the year ended December 31, 2021, ensuring compliance with applicable accounting standards and regulations[95]. - Total fees paid to external auditors for audit services amounted to HKD 758,000 in 2021, compared to HKD 680,000 in 2020[115]. - Non-audit services fees paid to external auditors were HKD 290,000 in 2021, up from HKD 258,000 in 2020[115]. Corporate Social Responsibility - The company is committed to environmental policies and corporate governance to enhance stakeholder value[76]. - The company’s subsidiaries are involved in the production of eco-friendly permeable concrete products, indicating a commitment to sustainable practices[48].

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 232,139,000, representing a 54% increase from HKD 150,791,000 in the same period of 2020[9] - Gross profit for the same period was HKD 47,025,000, up 85% from HKD 25,377,000 year-on-year[9] - The company reported a loss from continuing operations of HKD 2,105,000, significantly improved from a loss of HKD 22,844,000 in the prior year[10] - Other comprehensive income for the period was HKD 5,963,000, compared to a loss of HKD 3,939,000 in the previous year[12] - The company reported a net cash outflow from operating activities of HKD 1,186,000 for the six months ended June 30, 2021, an improvement compared to HKD 9,338,000 in the same period of 2020[18] - The company incurred a total comprehensive loss of HKD 22,691,000 for the six months ended June 30, 2021, compared to a loss of HKD 24,288,000 in the same period of 2020, showing a reduction in losses of about 6.6%[17] - The company reported a loss attributable to owners of the company of HKD 2,035,000 for the six months ended June 30, 2021, compared to a loss of HKD 21,231,000 for the same period in 2020, representing a significant improvement[46] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 322,321,000, an increase from HKD 268,595,000 at the end of 2020[14] - Current liabilities increased to HKD 215,229,000 from HKD 177,806,000 at the end of 2020[14] - The company's cash and cash equivalents decreased to HKD 7,394,000 from HKD 12,985,000 at the end of 2020[14] - As of June 30, 2021, the company's non-current liabilities increased to HKD 25,791,000 from HKD 19,525,000 in December 2020, representing a growth of approximately 32.2%[15] - The company's total liabilities increased to HKD 25,791,000 as of June 30, 2021, compared to HKD 19,525,000 at the end of 2020, marking a significant rise of approximately 32.2%[15] - The company's net asset value as of June 30, 2021, was HKD 276,907,000, up from HKD 273,049,000 at the end of 2020, indicating a slight increase of 1.0%[15] Revenue and Sales - The company reported a customer contract revenue of HKD 232,139,000 for the six months ended June 30, 2021, compared to HKD 150,791,000 for the same period in 2020, representing a growth of approximately 54%[31] - Revenue from external customers for the pre-stressed high-strength concrete piles and other businesses was HKD 232,139,000, an increase of approximately 53.9% compared to HKD 150,791,000 in the previous fiscal period[78] - The company reported a significant increase in the sales contribution from pre-stressed high-strength concrete piles, ready-mixed concrete, and bricks, contributing approximately 28%, 58%, and 14% respectively to total revenue[78] Expenses - Employee costs, including directors' remuneration, increased to HKD 23,089,000 in the first half of 2021 from HKD 16,213,000 in 2020, reflecting a growth of approximately 42%[38] - Sales and distribution expenses for the fiscal year 2021 amounted to HKD 34,794,000, an increase of 52.0% compared to HKD 22,893,000 in 2020, primarily due to increased transportation costs[81] - Administrative expenses for the fiscal year 2021 were HKD 17,027,000, up 24.6% from HKD 13,664,000 in 2020, mainly due to increased employee costs and maintenance expenses[82] Financing and Capital - The company raised HKD 14,906,000 from the issuance of new shares during the previous reporting period, contributing to its capital reserves[17] - The company completed the issuance of 149,063,676 new ordinary shares at a subscription price of HKD 0.1 per share, raising approximately HKD 13,900,000 for general working capital[68] - The financing cost for the fiscal year 2021 decreased by 20.0% to HKD 1,425,000 from HKD 1,781,000 in 2020, attributed to reduced overdraft interest and bank borrowing interest[83] Legal and Regulatory Matters - Legal actions are ongoing against several borrowers for unpaid loans, with significant cases involving Charmate Development Limited and others currently in liquidation proceedings[110][111][114] - The company is considering resuming legal actions against Fuzhou Xufa Trading Co., Ltd. to recover outstanding receivables due to stalled settlement negotiations[113] - The company has engaged legal counsel to pursue actions against various entities, including Tailor Wealth Group Limited and Meirui Group Limited, which are also undergoing liquidation[110][111] Corporate Governance - The company has complied with the Corporate Governance Code as of June 30, 2021[144] - The Audit Committee, consisting of three independent non-executive directors, oversees the group's financial reporting and risk management[145] - The Remuneration Committee is responsible for reviewing and evaluating the remuneration of executive directors[147] - The Nomination Committee is composed of one executive director and four independent non-executive directors, responsible for appointing new directors[148] Strategic Initiatives - The company is exploring new business opportunities to expand its scale and drive growth[105] - The company has terminated its financial services business as of February 11, 2020, aligning with its long-term strategy to focus on other business areas[41] - The company has no plans to renew its financial services license, which expired in February 2020, as part of its strategic decision to concentrate on its core operations[41]

Financial Performance - The group's consolidated loss decreased by approximately 93% compared to 2019, primarily due to the absence of impairment losses related to receivables amounting to HKD 117 million and a significant reduction in impairment losses related to deposits paid for the acquisition of subsidiaries by about HKD 104 million [8]. - Revenue from external customers in the construction materials business was HKD 384.96 million for the fiscal year 2020, an increase of approximately 8% from HKD 356.41 million in the previous year, mainly due to increased sales volume of prestressed high-strength concrete piles [12]. - The loss from discontinued operations for the fiscal year ended December 31, 2020, was HKD 1.44 million, a 99% reduction compared to HKD 117.15 million in the previous fiscal year, mainly due to the absence of impairment losses recognized in the previous year [15]. - The group reported a loss from continuing operations of HKD 19,070,000 for the year ended December 31, 2020, compared to a loss of HKD 176,873,000 in 2019, indicating a significant improvement [67]. - The net loss for the year was HKD 20.51 million, significantly reduced from a loss of HKD 294.02 million in 2019, indicating a 93% improvement [167]. - Total comprehensive income for 2020 was HKD 13.35 million, a turnaround from a comprehensive loss of HKD 304.96 million in 2019 [167]. Assets and Liabilities - Total assets as of December 31, 2020, amounted to HKD 470,380,000, an increase from HKD 419,903,000 in 2019 [67]. - The group’s total liabilities increased to HKD 197,331,000 in 2020 from HKD 174,125,000 in 2019, reflecting a rise in both current and non-current liabilities [67]. - The group’s non-current assets increased to HKD 201,785,000 in 2020 from HKD 172,719,000 in 2019, indicating investment in long-term assets [67]. - Current assets rose to HKD 268.60 million in 2020, up from HKD 247.18 million in 2019, marking an increase of 8.7% [169]. - Current liabilities increased to HKD 177.81 million in 2020, compared to HKD 159.30 million in 2019, representing an increase of 11.6% [169]. Cash Flow and Financing - The company reported a cash and cash equivalents balance of HKD 12,985,000 at the end of 2020, down from HKD 29,049,000 at the end of 2019, representing a decrease of 55.3% [177]. - The company’s financing activities generated a net cash inflow of HKD 3,831,000, a significant decrease from HKD 33,091,000 in the previous year [177]. - The company raised HKD 14,906,000 from the issuance of new shares during the year, compared to HKD 16,973,000 in 2019, reflecting a decrease of 6.3% [177]. - The company incurred a total comprehensive loss of HKD 304,959,000 for the year, compared to a loss of HKD 294,018,000 in 2019, indicating a slight increase in losses of 3.3% [173]. Operational Efficiency and Cost Management - Administrative expenses for the fiscal year 2020 were HKD 29.37 million, a decrease of 34% from HKD 44.54 million in the previous fiscal year, primarily due to reduced employee costs, auditor fees, and legal and professional expenses [14]. - The company is actively exploring new business opportunities to expand its operations and drive growth [33]. - The management team is committed to enhancing operational efficiency and exploring new market opportunities [51]. Market and Industry Outlook - The impact of COVID-19 on the group's operations was temporary, with local business starting to recover by the end of February 2020, and operations gradually returning to normal levels in the first half of the year [8]. - Infrastructure investment in China is expected to continue increasing over the next two to three years, supporting economic recovery and stabilizing the job market, which will benefit the group's business [9]. - The company anticipates benefiting from China's infrastructure investment plans, which include the construction of 200,000 kilometers of railways and 460,000 kilometers of roads by 2035 [33]. Governance and Compliance - The board of directors includes members with over 20 years of experience in capital markets, providing valuable insights into market trends [38]. - The board of directors has confirmed their independence according to the listing rules, ensuring compliance with governance standards [74]. - The company has established service contracts with its executive directors, ensuring continuity in leadership [77]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the year ended December 31, 2020, and confirmed compliance with applicable accounting standards and regulations [94]. Shareholder Information - As of December 31, 2020, the company had a significant shareholder, Fu Heng Group Limited, holding 73,693,706 shares, representing approximately 41.03% of the total shares [86]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting within two months of the request [135]. - Shareholders can propose resolutions at the general meeting with a minimum of 100 shareholders or 5% of total voting rights required to submit a written request [136]. Risk Management - The group faced significant risks from the construction materials industry, including rising raw material prices and increased competition [52]. - The company is exposed to foreign exchange risks primarily due to its assets and liabilities denominated in Renminbi and Hong Kong dollars [29]. - The company has established a robust internal control and risk management system, overseen by the board of directors [99]. Audit and Financial Reporting - The independent auditor's report indicates that the consolidated financial statements reflect a true and fair view of the group's financial position as of December 31, 2020 [142]. - The financial reports are based on Hong Kong Financial Reporting Standards and include applicable disclosure requirements from the Stock Exchange [181]. - The company has engaged external professional consultants to review its internal control systems, ensuring compliance with operational procedures and relevant laws [121].

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 150,791,000, a slight increase from HKD 150,510,000 in the same period of 2019, representing a growth of 0.19%[7] - Gross profit decreased to HKD 25,377,000 from HKD 33,298,000, reflecting a decline of 23.8% year-on-year[7] - The loss before tax from continuing operations was HKD 22,389,000, significantly improved from a loss of HKD 127,468,000 in the previous year, indicating a reduction of 82.4%[7] - Total comprehensive loss for the period was HKD 26,716,000, down from HKD 254,447,000, marking a decrease of 89.5%[11] - The company reported a basic and diluted loss per share of HKD 2.57, compared to HKD 35.2 in the same period last year[9] - The company incurred a total comprehensive loss of HKD 248,801,000 for the six months ended June 30, 2020, compared to a loss of HKD 245,468,000 for the same period in 2019[16] - The group experienced a net loss of HKD 9,079,000 in other income and losses for the six months ended June 30, 2020, compared to a net loss of HKD 108,204,000 in the same period of 2019, indicating a significant reduction in losses[34] - The group incurred a pre-tax loss of HKD 16,213,000 for the six months ended June 30, 2020, down from HKD 19,367,000 in the same period of 2019, showing an improvement of approximately 15%[38] Assets and Liabilities - Non-current assets decreased to HKD 164,387,000 from HKD 172,719,000, a decline of 4.8% compared to the end of 2019[13] - Current assets decreased to HKD 213,850,000 from HKD 247,184,000, reflecting a reduction of 13.5%[13] - Cash and cash equivalents decreased to HKD 17,216,000 from HKD 29,049,000, a decline of 40.7%[13] - Trade payables decreased to HKD 54,347,000 from HKD 70,439,000, a reduction of 22.9% year-on-year[13] - As of June 30, 2020, the company's total equity amounted to HKD 232,988,000, a decrease of 5.2% from HKD 245,778,000 as of December 31, 2019[14] - The total liabilities increased to HKD 19,242,000 as of June 30, 2020, up from HKD 14,826,000 at the end of 2019, primarily due to an increase in interest-bearing loans[14] - The company's interest-bearing loans increased significantly to HKD 15,296,000 as of June 30, 2020, compared to HKD 8,414,000 at the end of 2019[14] - The company reported a credit loss provision of HKD 52,622,000 for trade receivables as of June 30, 2020, compared to HKD 48,957,000 as of December 31, 2019, an increase of about 5.4%[56] Cash Flow - The company reported a net cash outflow from operating activities of HKD 9,338,000 for the six months ended June 30, 2020, compared to a cash inflow of HKD 20,465,000 for the same period in 2019[17] - The company’s cash flow from financing activities generated a net cash inflow of HKD 3,500,000 for the six months ended June 30, 2020, down from HKD 25,352,000 in the previous year[17] - The net cash outflow from operating activities for discontinued operations was HKD (22) thousand for the six months ended June 30, 2020, compared to HKD (5,378) thousand in 2019, indicating improved cash management[44] Operational Efficiency and Market Focus - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[11] - Despite the temporary impact of COVID-19, the company's local operations began to recover in March 2020, gradually returning to normal levels[99] Share Capital and Financing - The company raised HKD 14,906,000 from the subscription of new shares during the six months ended June 30, 2020[17] - The company issued 149,063,676 new ordinary shares at a subscription price of HKD 0.1 per share, raising net proceeds of HKD 13,926,000 for general working capital purposes[62] - The company’s issued and fully paid ordinary shares increased to 898,000,000 as of June 30, 2020, from 748,936,000 as of December 31, 2019, representing an increase of approximately 19.9%[62] Legal and Regulatory Matters - The group decided not to renew its lending license after it expired on February 11, 2020, leading to the termination of its financial services business[30] - The company is involved in ongoing legal proceedings related to financial assistance and loan recovery, indicating active management of its financial risks[102] - Legal proceedings are ongoing regarding the return of the refundable deposit, with a court ruling on July 16, 2019, freezing assets of the guarantor valued at less than RMB 100,000,000 for three years[107] Corporate Governance - The Audit Committee consists of three independent non-executive directors, ensuring oversight of financial reporting, risk management, and internal controls[132] - The Remuneration Committee is responsible for reviewing and evaluating the compensation of executive directors, comprising two executive directors and three independent non-executive directors[133] - The Nomination Committee is tasked with appointing new directors and maintaining board quality, consisting of one executive director and three independent non-executive directors[135] - The company has adopted the standard code of conduct for securities trading, confirming compliance by all directors for the six months ending June 30, 2020[136]

新威國際控股有限公司 (於百慕達註冊成立之有限公司) 股份代號：00058 年 報 2019 Annual Report2019 SUNWAY INTERNATIONAL HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) Stock Code: 00058 SUNWAY INTERNATIONAL HOLDINGS LIMITED 新威國際控股有限公司 ANNUAL REPORT 2019 年報 目錄 | 2 | 公司資料 | | --- | --- | | 4 | 主席聲明 | | 5 | 管理層論析 | | 8 | 董事及高級管理人員履歷 | | 11 | 董事會報告 | | 19 | 企業管治報告 | | 28 | 獨立核數師報告 | | 32 | 綜合損益表 | | 33 | 綜合全面收入表 | | 34 | 綜合財務狀況表 | | 36 | 綜合權益變動表 | | 38 | 綜合現金流量表 | 40 綜合財務報表附註 公司資料 董事 執行董事： 詹世佑 （主席） （於二零一九年五月二十八日獲委任） 李重陽 （董事總經理 ...

Financial Performance - Revenue for the six months ended June 30, 2019, was HKD 150,889,000, a decrease of 24.5% compared to HKD 200,187,000 for the same period in 2018[8] - Gross profit for the same period was HKD 33,677,000, down 39.5% from HKD 55,622,000 in 2018[8] - The company reported a loss before tax of HKD 244,566,000, compared to a profit of HKD 2,810,000 in the previous year[8] - The net loss attributable to owners of the company was HKD 243,025,000, compared to a profit of HKD 4,712,000 in 2018[8] - Basic and diluted loss per share for the period was HKD 0.352, compared to HKD 0.007 in the same period last year[8] - The total comprehensive loss for the period was HKD 254,447,000, compared to HKD 2,086,000 in 2018[10] Expenses - The company experienced a significant increase in selling and distribution expenses, which rose to HKD 32,986,000 from HKD 28,492,000 in the previous year[8] - Administrative expenses decreased to HKD 19,848,000 from HKD 23,027,000 in 2018, indicating a cost control effort[8] - The company reported other income of HKD 2,157,000, down from HKD 5,720,000 in the previous year[8] Assets and Liabilities - Non-current assets increased to HKD 194,583,000 in June 2019 from HKD 165,764,000 in December 2018, representing a growth of 17.4%[12] - Current assets decreased significantly to HKD 235,144,000 in June 2019 from HKD 517,797,000 in December 2018, a decline of 54.5%[12] - Total liabilities decreased from HKD 149,797,000 in December 2018 to HKD 133,438,000 in June 2019, a reduction of 10.9%[12] - The company's net asset value dropped to HKD 296,289,000 in June 2019 from HKD 533,764,000 in December 2018, a decrease of 44.5%[13] - The total equity attributable to owners decreased from HKD 453,769,000 in December 2018 to HKD 221,940,000 in June 2019, a decline of 51.1%[13] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2019, was HKD 20,465,000, compared to a net cash used of HKD 19,386,000 in the same period of 2018[17] - The net cash used in investing activities was HKD 42,298,000 for the first half of 2019, a significant decrease from the net cash generated of HKD 11,058,000 in the prior year[17] - The net cash generated from financing activities was HKD 25,352,000, reversing from a net cash used of HKD 12,500,000 in the previous year[17] Trade Receivables and Inventory - Trade receivables decreased significantly from HKD 184,584,000 in December 2018 to HKD 83,037,000 in June 2019, a decline of 55.0%[12] - Inventory increased to HKD 31,297,000 in June 2019 from HKD 25,822,000 in December 2018, an increase of 21.0%[12] - The total impairment loss provision for loans and trade receivables increased to HKD 176,089,000 from HKD 57,396,000 year-on-year[86] Legal and Compliance - The company is involved in multiple legal disputes, including a case regarding unpaid loans totaling RMB 34,772,335.50 owed to Guangdong Hengjia[145] - The company has faced a civil judgment requiring it to pay RMB 2,000,000 in unpaid loans plus default interest[143] - The company has been actively appealing various civil judgments related to its financial obligations[144] Corporate Governance - The company has complied with the Corporate Governance Code as of June 30, 2019[174] - An Audit Committee has been established to oversee financial reporting, risk management, and internal controls[175] - The Remuneration Committee is responsible for reviewing and evaluating the remuneration of executive directors[176] - A Nomination Committee has been formed to identify and recommend qualified candidates for the board[178]