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佈之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公佈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。 ELATE HOLDINGS LIMITED 誼 礫 控 股 有 限 公 司 （於香港註冊成立之有限公司） （股份代號：076） 截至二零二二年十二月三十一日止年度經審核業績公佈 誼礫控股有限公司（「本公司」）之董事會（「董事會」）欣然宣佈，本公司及其附屬公 司（統稱「本集團」）截至二零二二年十二月三十一日止年度之經審核綜合業績連同 二零二一年之比較數字如下： 綜合損益表 截至二零二二年十二月三十一日止年度 附註 二零二二年 二零二一年 千美元 千美元 收益 2 100,189 101,259 銷售成本 (87,244) (83,385) 毛利 12,945 17,874 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was $52,918,000, a decrease of 2.4% from $54,324,000 in the same period of 2021[5] - Gross profit for the same period was $10,779,000, down 16.4% from $12,901,000 year-on-year[5] - Net profit for the six months ended June 30, 2022, was $3,546,000, a decrease of 7.1% compared to $3,815,000 in the previous year[6] - Operating profit for the six months ended June 30, 2022, was $4,941,000, compared to $5,303,000 for the same period in 2021, reflecting a decrease of approximately 6.8%[16] - The net profit for the six months ended June 30, 2022, was $3,546,000, down from $3,815,000 in the same period of 2021, representing a decline of about 7.0%[19] - The group’s total assets decreased slightly, with net assets at approximately $386.2 million as of June 30, 2022, down from approximately $387.9 million as of December 31, 2021[34] Cash Flow and Assets - Operating cash flow for the six months was $7,497,000, an increase of 6.3% from $7,051,000 in the same period of 2021[10] - Cash and cash equivalents at the end of the period were $18,499,000, slightly up from $18,380,000 at the beginning of the period[10] - Total assets as of June 30, 2022, were $414,926,000, compared to $414,858,000 as of December 31, 2021[8] - The net current assets as of June 30, 2022, were approximately $348,700,000, compared to $351,000,000 on December 31, 2021[42] - As of June 30, 2022, the group's cash and bank balances were approximately $18,500,000, slightly up from $18,400,000 on December 31, 2021[42] Liabilities and Equity - The company’s total liabilities increased to $28,307,000 from $19,366,000 year-on-year[8] - The net assets attributable to equity holders decreased to $386,205,000 from $387,870,000 as of December 31, 2021[8] - Total liabilities for other payables and accrued expenses increased to $14,265,000 in 2022 from $7,226,000 in 2021, indicating a significant rise in financial obligations[25] - The company has no bank borrowings or significant debts as of June 30, 2022, with a debt-to-equity ratio of 0.1%[44] Revenue Breakdown - Revenue from external customers for graphite products was $16,001,000, for electronic products was $36,804,000, and for design and manufacturing was $113,000, totaling $52,918,000 for the six months ended June 30, 2022[14] - The group's graphite business generated revenue of approximately $16 million, an increase of 1.9% compared to approximately $15.7 million for the same period last year[37] - The electronic manufacturing services business revenue was approximately $36.8 million, a decrease of about $900,000 or 2.5% compared to approximately $37.7 million for the same period last year[37] Operational Insights - The company purchased property, plant, and equipment amounting to $3,508,000 during the six months ended June 30, 2022, significantly higher than $710,000 in the same period of 2021[20] - The company reported a foreign exchange loss of $5,211,000 for the period, compared to a gain of $509,000 in the previous year[6] - The company noted a recovery in demand for graphite products due to the gradual economic recovery from the COVID-19 pandemic[39] - The company continues to expand its graphite production capacity in Madagascar, which is expected to lead to higher production capacity[40] - The company has not halted any business operations due to the COVID-19 pandemic, although it is taking precautionary measures in response to potential declines in customer demand in the graphite market[40] Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[26] - The weighted average number of ordinary shares issued remained unchanged at 7,006,631,478 shares for both 2022 and 2021, resulting in basic and diluted earnings per share of $0.000506[19] - The company has not declared any interim dividends for the six months ending June 30, 2022[53] Governance and Compliance - The company has established an audit committee to review and monitor the financial reporting process, risk management, and internal control systems as per listing rules[64] - The audit committee consists of three independent non-executive directors, ensuring compliance with the corporate governance code[65] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the six months ending June 30, 2022[60]

Financial Performance - The company's revenue for the year ended December 31, 2021, was approximately $101.3 million, an increase of $6.5 million or 6.9% compared to $94.7 million in 2020[8]. - The net profit attributable to the company's owners was approximately $4.8 million, with earnings per share of $0.07, compared to a net profit of $3.0 million and earnings per share of $0.05 in 2020[6]. - The graphite business generated revenue of $23.9 million, a significant increase of 118.9% from $10.9 million in the previous year, driven by rising demand and prices as the global economy recovers from the pandemic[11]. - The electronic manufacturing services segment in the UK reported revenue of $76 million, a decrease of $7.1 million or 8.6% from $83.1 million in 2020, primarily due to the absence of government contracts for ventilators[13]. - The company expects steady revenue growth in its graphite business due to rising demand and prices as the global economy recovers from the pandemic[18]. Assets and Liabilities - Total assets as of December 31, 2021, were approximately $407.9 million, up from $399.1 million in 2020, while net assets increased to $387.9 million from $382.4 million[8]. - As of December 31, 2021, the company's cash and cash equivalents were approximately $18.4 million, down from $21.4 million on December 31, 2020[20]. - The net current assets as of December 31, 2021, were approximately $351 million, compared to $344.1 million in 2020[20]. - The company has no bank borrowings as of December 31, 2021, and its debt-to-equity ratio was 0.1%[20]. Investment and Capital Expenditures - The company continues to invest in capital equipment and new technologies to improve future production capacity and service offerings[14]. - Approximately $73.5 million (around $9.4 million) of the funds raised have been utilized for various capital expenditures, including production lines and warehouses[22]. - The company plans to use the remaining unutilized funds of approximately $495.5 million (around $63.5 million) for future capital projects from 2022 to 2025[22]. COVID-19 Impact and Response - The group faced significant disruptions and uncertainties due to the COVID-19 pandemic, impacting customer demand and product pricing[60]. - The company has taken measures to mitigate the impact of COVID-19, including adjusting the construction schedule for its graphite production line in Madagascar[22]. - The company has noted a recovery in demand for graphite products as vaccination rates increase and the economy gradually recovers from the pandemic[15]. Governance and Compliance - The company has complied with all corporate governance code provisions, except for the separation of the roles of Chairman and CEO, which are held by the same individual[36]. - The company has adopted corporate governance practices in compliance with the listing rules throughout the year ending December 31, 2021[105]. - The board consists of five members, with three being independent non-executive directors, ensuring a high level of independence and effective decision-making[123]. - The company has confirmed that all directors complied with the securities trading standards throughout the year ended December 31, 2021[122]. Risk Management - The board is responsible for maintaining an effective risk management and internal control system, which includes identifying significant risks and assessing their impact on the business[175]. - The company has implemented appropriate measures for risk management and has not presented any significant issues requiring improvement[176]. - The audit committee reported that the risk management and internal control systems were appropriate and effective throughout the year ending December 31, 2021[177]. Environmental Responsibility - The company has implemented measures to reduce carbon emissions and improve energy efficiency as part of its environmental responsibility[197]. - The company has not encountered any significant issues regarding compliance with applicable standards and regulations related to environmental protection[197]. - Axiom Manufacturing Services Limited, a wholly-owned subsidiary, has obtained ISO 140001 certification and has set annual goals to reduce the use of natural resources[198]. - The company recycles all waste paper, cardboard, and soft plastics, and uses energy-efficient bulbs for factory, parking lot, and road lighting[199]. Shareholder Engagement - The company emphasizes equal opportunities for all shareholders to exercise their rights and actively participate in corporate affairs[181]. - Shareholders holding at least 5% of total voting rights can request a special general meeting[183]. - The company is committed to effective communication with shareholders to enhance long-term value[190].

Financial Performance - Revenue for the six months ended June 30, 2021, was $54,324,000, an increase of 20.4% compared to $45,157,000 for the same period in 2020[3] - Gross profit for the same period was $12,901,000, representing a gross margin of 23.7%, up from $11,479,000 in 2020[3] - Net profit attributable to the company's owners for the six months was $3,815,000, a significant increase of 139.0% from $1,590,000 in the prior year[3] - The company reported a total comprehensive income of $4,324,000 for the period, compared to a loss of $1,536,000 in the same period last year[4] - Operating profit for the six months ended June 30, 2021, was $5.303 million, up from $2.610 million in the same period of 2020, indicating a significant improvement in operational efficiency[18][21] - The company reported a net profit of $3.815 million for the six months ended June 30, 2021, compared to $1.590 million for the same period in 2020, reflecting a 139.5% increase in profitability[25] - The company's basic and diluted earnings per share for the period were both $0.054, compared to $0.023 in the same period last year, reflecting a growth of 134.8%[3] Cash Flow and Assets - Cash and cash equivalents at the end of the period increased to $28,087,000 from $21,373,000 at the beginning of the period, reflecting a net increase of $6,205,000[11] - Operating cash flow for the six months was $7,051,000, down from $13,652,000 in the previous year, indicating a decrease of 48.7%[11] - Total assets less current liabilities as of June 30, 2021, were $387,284,000, an increase from $383,262,000 at the end of 2020[7] - As of June 30, 2021, the total assets of the group were approximately $408.7 million, up from approximately $399.1 million as of December 31, 2020[41] - The net current assets as of June 30, 2021, were approximately $348.8 million, compared to $344.1 million on December 31, 2020[54] - The group had no bank borrowings as of June 30, 2021, and the debt-to-equity ratio was 0.2%[54] Inventory and Receivables - The company’s inventory stood at $315,950,000, slightly up from $314,981,000 in the previous year[6] - Trade receivables increased to $25,173,000 from $20,783,000, indicating a growth of 21.7%[6] - The aging analysis of trade receivables showed a total of $25.173 million as of June 30, 2021, compared to $20.783 million as of December 31, 2020[27] - The group reported other receivables and prepayments totaling $875,000 as of June 30, 2021, down from $2.624 million as of December 31, 2020[28] Liabilities and Payables - Trade payables amounted to $8.525 million as of June 30, 2021, compared to $7.232 million as of December 31, 2020[30] - Other payables and accrued expenses totaled $9.298 million as of June 30, 2021, compared to $7.626 million as of December 31, 2020[31] Business Operations and Investments - The company purchased approximately $710,000 worth of property, plant, and equipment during the six months ended June 30, 2021, compared to $644,000 in the same period of 2020, indicating ongoing investment in infrastructure[26] - The company has been engaged in the production and sale of graphite products globally for over 10 years, which is considered a major channel for profit growth[42] - The graphite business generated revenue of approximately $15.7 million for the six months ended June 30, 2021, a significant increase of 248.9% from approximately $4.5 million in the same period last year, driven by increased demand and production[50] - The electronic manufacturing services business reported revenue of approximately $37.7 million for the six months ended June 30, 2021, a decrease of about $2.5 million or 6.2% compared to approximately $40.2 million in the same period last year[50] COVID-19 Impact - The impact of the COVID-19 pandemic has led to a decline in demand for graphite products, but there has been a recent recovery in demand as the economy gradually recovers[48] - The company is monitoring the ongoing developments of the COVID-19 pandemic, which may affect its business operations and financial performance[51] - The company has no plans to cease any business operations due to the pandemic, despite taking precautionary measures in the graphite market[51] - The company expects to maintain the level of business achieved in 2020 throughout 2021, despite challenges posed by the pandemic[53] - The company adjusted the construction timeline for its Madagascar graphite production line due to the pandemic[47] Shareholder Information - The group did not declare any interim dividend for the six months ended June 30, 2021[32] - No major shareholders or other individuals held any interests, short positions, or lendable shares in the company's securities as of June 30, 2021[83] - No directors had any direct or indirect significant interests in any contracts of the company or its subsidiaries that were material to the business during the six months ended June 30, 2021[81] Audit and Reporting - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial statements for the six months ended June 30, 2021[84] - The interim report will be published on the Hong Kong Stock Exchange and the company's website by September 30, 2021[85]

誼礫控股有限公司 股份代號 : 76 年報 目錄 公司資料 2 財務摘要 3 管理層對財務狀況及經營業績之討論及分析 4 董事會報告 14 企業管治報告 22 環境、社會及管治報告 38 獨立核數師報告 46 綜合損益表 51 綜合損益及其他全面收入表 52 綜合財務狀況表 53 綜合權益變動表 55 綜合現金流量表 56 綜合財務報表附註 57 五年財務概要 138 公司資料 董事 Feng Zhong Yun， 執行董事兼董事總經理 張雪， 執行董事 吳麗寶， 獨立非執行董事 Chai Woon Chew， 獨立非執行董事 葉一凡， 獨立非執行董事 公司秘書 林莉如 註冊辦事處 香港 干諾道中13-14號及德輔道中21-23號 歐陸貿易中心10樓1002室 股份過戶登記處 香港中央證券登記有限公司 香港 皇后大道東183號 合和中心17樓 主要往來銀行 星展銀行有限公司 核數師 香港立信德豪會計師事務所有限公司 二零二零年年報 2 財務摘要 | | 二零二零年 | 二零一九年 | | --- | --- | --- | | | 千美元 | 千美元 | | 收益 | 94,713 | 93,659 | | ...

Financial Performance - Revenue for the six months ended June 30, 2020, was $45,157,000, an increase of 6.5% compared to $42,428,000 for the same period in 2019[5] - Gross profit for the same period was $11,479,000, representing a significant increase of 57.5% from $7,295,000 in 2019[5] - Operating profit rose to $2,610,000, compared to $640,000 in the previous year, marking a growth of 307.8%[5] - Net profit attributable to the company's owners was $1,590,000, a substantial increase from $195,000 in 2019, reflecting an increase of 715.4%[5] - Basic and diluted earnings per share for the period were both $0.023, compared to $0.004 in the same period last year[5] - The company reported a total comprehensive income of $(1,536,000) for the period, a decrease from $1,656,000 in 2019, primarily due to foreign exchange losses[6] - The company’s net cash generated from operating activities was $13,652,000, a significant turnaround from $(11,604,000) in the previous year[11] - The company decided not to declare any interim dividend for the six months ended June 30, 2020[33] Assets and Liabilities - Cash and cash equivalents at the end of the period increased to $19,388,000 from $6,284,000, showing a significant improvement[11] - Total assets less current liabilities as of June 30, 2020, were $375,906,000, compared to $370,164,000 at the end of 2019[9] - Non-current assets decreased to $35,202,000 from $40,858,000, indicating a reduction in long-term investments[8] - Total assets as of June 30, 2020, were $397,500,000, down from $412,300,000 as of December 31, 2019[39] - The company's current assets net worth was approximately $340,700,000 as of June 30, 2020, compared to $329,300,000 as of December 31, 2019[54] - The company had no bank borrowings or significant adverse changes in debt as of June 30, 2020[55] - The company has no significant contingent liabilities as of June 30, 2020[56] - The company has no capital commitments related to the purchase of fixed assets as of June 30, 2020[57] - The company has no significant investments as of June 30, 2020[58] Revenue Breakdown - The company's revenue for the six months ended June 30, 2020, was $45,200,000, an increase of $2,800,000 or 6.6% compared to $42,400,000 for the same period last year[39] - The graphite business generated a revenue of $4,500,000, a decrease of 52.6% from $9,500,000 in the same period last year, primarily due to the impact of the COVID-19 pandemic[51] - The electronic manufacturing services segment achieved a revenue of $40,200,000, an increase of $7,500,000 or 22.9% compared to $32,700,000 in the same period last year, driven by increased product sales and urgent demand for ventilators[53] Shareholder Information - As of June 30, 2020, major shareholder Zhao Jie held 1,125,000,000 shares, representing approximately 16.06% of the total shares outstanding[79] - The company had issued share capital of $607,060,000 and a total of 7,006,631,478 shares outstanding[62] - The company issued 1,021,500,000 ordinary shares through the exercise of convertible bonds, raising approximately $7,464,000[34] Operational Changes - The company is in the process of establishing a new graphite production line, expected to be completed in the fourth quarter of the current year, which will increase production capacity[42] - The company has been engaged in the production and sale of graphite products for over 10 years, with a focus on strategic materials due to increasing global demand[40] - The company sold its entire stake in Global Select Limited and its seven subsidiaries for $120,000, with a recognized gain of approximately $8,000 from the sale[24] - The company completed the strategic sale of its entire stake in Global Select Limited and its seven subsidiaries for $120,000, with a net asset value of approximately $111,900 as of March 31, 2020, resulting in a gain of about $8,000[49] Employee Information - The group employed 339 employees as of June 30, 2020, a decrease from 348 employees in 2019[63] Compliance and Governance - The board of directors confirmed compliance with the standard code of conduct for securities trading throughout the reporting period[74] - There were no significant uncertainties that could cast doubt on the company's ability to continue as a going concern[65] - There were no significant subsequent events affecting the unaudited condensed consolidated financial statements after the reporting period[67] - The company did not engage in any purchase, sale, or redemption of its listed securities during the six months ended June 30, 2020[75] - The company did not make any provisions for Hong Kong profits tax for the periods ended June 30, 2020, and June 30, 2019, due to no estimated taxable profits[22] - The company adopted new accounting standards related to COVID-19 rent concessions, which did not impact the interim financial information[17] Receivables and Payables - The aging analysis of trade receivables as of June 30, 2020, showed a total of $12,440,000, slightly down from $12,445,000 as of December 31, 2019[29] - Other receivables, deposits, and prepayments totaled $7,346,000 as of June 30, 2020, down from $12,033,000 as of December 31, 2019[30] - Trade payables aged analysis showed an increase in 0-30 days payables to $6,340,000 from $3,593,000 in the previous year[12] - Other payables decreased significantly to $2,891,000 from $7,454,000 year-on-year[32] Depreciation and Capital Expenditures - Depreciation for property, plant, and equipment was $1,566,000 for the six months ended June 30, 2020, compared to $1,222,000 for the same period in 2019[21] - The company purchased property, plant, and equipment amounting to $644,000 during the six months ended June 30, 2020, a decrease from $1,575,000 in the same period of 2019[28]

Financial Proceeds and Expenditures - The company plans to utilize the net proceeds of HKD 569,000,000 from a zero-coupon convertible bond for the construction of a new graphite production line in Madagascar[3] - As of December 31, 2019, the company has used HKD 43,890,000 (approximately USD 5,627,000) for various expenditures related to the new production line[4] - For 2020, the company has budgeted a total of HKD 187,200,000 (approximately USD 24,000,000) for construction and operational costs, including HKD 31,200,000 for facilities and warehouses[4] - In 2021, the planned expenditure totals HKD 167,310,000 (approximately USD 21,450,000), with significant allocations for production lines and transportation infrastructure[4] - The budget for 2022 is set at HKD 170,600,000 (approximately USD 21,872,000), continuing the investment in production lines and related infrastructure[5] - The company has not made significant changes to the planning and use of proceeds from the HKD 600,000,000 zero-coupon convertible bond issued on April 25, 2018[5] Impact of External Factors - The company has temporarily slowed the progress of the new graphite production line due to changes in the global economic and trade environment[5] - The company will closely monitor the impact of COVID-19 and other factors on the global economy and adjust its investment plans as necessary[5]

2019 年報 誼礫控股有限公司 股份代號 : 76 目錄 公司資料 2 財務摘要 3 管理層對財務狀況及經營業績之討論及分析 4 董事會報告 12 企業管治報告 20 環境、社會及管治報告 35 獨立核數師報告 43 綜合損益表 49 綜合損益及其他全面收入表 51 綜合財務狀況表 52 綜合權益變動表 54 綜合現金流量表 55 綜合財務報表附註 56 五年財務概要 140 董事 韓志軍， 獨立非執行董事兼副主席 Feng Zhong Yun， 執行董事兼董事總經理 張雪， 執行董事 吳麗寶， 獨立非執行董事 Chai Woon Chew， 獨立非執行董事 公司秘書 林莉如 註冊辦事處 香港 干諾道中13-14號及德輔道中21-23號 歐陸貿易中心10樓1002室 股份過戶登記處 香港中央證券登記有限公司 香港 皇后大道東183號 合和中心17樓 主要往來銀行 星展銀行有限公司 核數師 香港立信德豪會計師事務所有限公司 二零一九年年報 2 公司資料 財務摘要 | | 二零一九年 | 二零一八年 | | --- | --- | --- | | | 千美元 | 千美元 | | 收益 | 93,659 | 11 ...

Financial Performance - For the six months ended June 30, 2019, revenue decreased to $42,428,000 from $61,600,000 in the same period of 2018, representing a decline of approximately 30.9%[5] - The operating profit for the same period was $640,000, down from $6,183,000, indicating a decrease of about 89.7%[5] - The net profit from continuing operations was $195,000, a significant drop from $6,250,000, reflecting a decline of approximately 96.9%[5] - Total comprehensive income for the period was $1,656,000, compared to $15,579,000 in the previous year, marking a decrease of about 89.4%[8] - The company reported a net cash outflow from operating activities of $11,604,000, contrasting with a cash inflow of $75,000 in the same period last year[13] - The company’s basic and diluted earnings per share from continuing operations were $0.004, down from $0.12 in the previous year[7] - The company recorded other income of $2,200,000, which was significantly higher than $763,000 in the previous year, indicating an increase of approximately 188.3%[5] - The graphite business revenue for the same period was $9.5 million, down 71.4% from $33.2 million in the previous year[68] - The electronic manufacturing services revenue increased by $4.6 million or 16.4%, reaching $32.7 million compared to $28.1 million in the prior year[68] Assets and Liabilities - Cash and cash equivalents at the end of the period were $6,284,000, down from $14,369,000, a reduction of approximately 56.2%[13] - Total assets less current liabilities as of June 30, 2019, were $372,893,000, an increase from $366,906,000 at the end of 2018, reflecting a growth of about 1.6%[11] - The company’s equity attributable to owners increased to $372,133,000 from $366,823,000, representing a rise of approximately 1.1%[11] - Total assets as of June 30, 2019, were $421.2 million, compared to $426.5 million as of December 31, 2018[51] - As of June 30, 2019, the company's current assets were $379.3 million, slightly down from $385 million as of December 31, 2018[69] - The net asset value of the company increased to $372.1 million as of June 30, 2019, from $366.8 million at the end of 2018[51] Capital and Investments - The issued and paid-up capital increased to $594,084,000 as of June 30, 2019, from $590,430,000 at the end of 2018, reflecting a growth of about 0.4%[44] - The company issued a 10-year zero-coupon convertible bond worth HKD 600 million to fund the new graphite production line[54] - The company issued 500 million ordinary shares due to the exercise of convertible bonds totaling HKD 30 million[72] Subsidiaries and Discontinued Operations - The company sold its subsidiary Kalrez Petroleum (Seram) Limited for $600,000, with a loss of $388,000 reported from the discontinued operations for the six months ended June 30, 2018[33] - The company sold its subsidiary Kalrez Petroleum for $600,000 to terminate potential losses from the aging oil field[66] Compliance and Governance - The company has no contingent liabilities as of June 30, 2019, and believes its cash reserves are sufficient for the next twelve months[70] - The company has no ongoing legal disputes that could significantly impact its operations[77] - There are no significant subsequent events that would materially affect the consolidated financial statements[78] - The company maintained sufficient public float throughout the year as per listing rules[79] - The company has complied with all corporate governance code provisions during the reporting period, with some deviations noted[81] - As of June 30, 2019, the company had no purchases, sales, or redemptions of its listed securities[85] - No directors or key executives held significant interests in any major contracts related to the company's business during the review period[87] Management and Personnel - The remuneration for directors and key management personnel for the six months ended June 30, 2019, was $270,000, down from $372,000 in the previous year[48] Future Plans - The company plans to establish an additional graphite production line in Madagascar to enhance profitability[54] - A joint venture named Gold Gold Gold Limited (3G Company) was established to provide services related to the buying, storing, circulating, and cashing of physical gold[58] Shareholding - Zhao Jie holds 1,125,000,000 shares, representing approximately 20.52% of the total issued shares as of June 30, 2019[88]

Financial Performance - The company's revenue for 2018 was $114.9 million, an increase of 82.7% from $62.9 million in 2017[8]. - Net profit attributable to shareholders for 2018 was $6.9 million, compared to a net loss of $9.6 million in 2017, resulting in earnings per share of $0.14[6][8]. - The company's revenue for the year ended December 31, 2018, was $114.9 million, an increase of $52 million or 82.7% compared to $62.9 million in 2017[19]. - The graphite business generated revenue of $49.4 million in 2018, a significant increase of 409.3% from $9.7 million in 2017, primarily due to the new graphite production line in Madagascar starting operations in January 2018[19]. - The electronic manufacturing services segment reported revenue of $65 million, up $12.1 million or 22.9% from $52.9 million in the previous year[19]. - The net cash generated from operating activities for 2018 was $16.5 million, a decrease from $32.7 million in 2017[23]. - The total assets of the group as of December 31, 2018, were $426.5 million, down from $444.3 million in 2017[8]. - The net asset value of the company as of December 31, 2018, was $366.8 million, slightly up from $363.9 million in 2017[8]. Business Operations - The company plans to establish an additional graphite production line in Madagascar, funded by issuing HKD 600 million zero-coupon convertible bonds[13]. - The company has a strategic reserve of semi-finished graphite inventory valued at approximately $305.1 million as of December 31, 2018[10]. - A joint venture named Gold Gold Gold Limited was established to provide services related to the buying, storing, and trading of physical gold, with a 50% stake held by the company[14]. - The company sold its subsidiary Kalrez Petroleum for $600,000 due to ongoing losses and negative impacts from low oil prices[15][16]. - The company’s electronic product manufacturing business, Axiom, provides services primarily to clients in the UK and North America[9]. - The company’s graphite business is considered a major channel for profit growth, serving clients in various industries including steel and lithium-ion batteries[9]. Corporate Governance - The company confirmed that all directors complied with the standards set out in the Securities and Futures Ordinance for the year ended December 31, 2018[40]. - The company maintained sufficient public float throughout the year as required by the listing rules[51]. - The board consists of six members, including two executive directors and four independent non-executive directors, ensuring a balanced composition[124]. - The independent non-executive directors provide independent and objective opinions, contributing to the company's governance and performance monitoring[129]. - The board is responsible for the company's governance and management of shareholder assets, including strategy formulation and performance monitoring[120]. - The company has established internal controls and training to ensure compliance with applicable laws and regulations, with no significant violations reported during the year[67]. - The board emphasizes the importance of good corporate governance for the sustainable development of the group[114]. - The company has received annual confirmations of independence from all independent non-executive directors, ensuring compliance with listing rules[130]. Risk Management - The group experienced a financial risk due to overdue payments from customers, which could impact financial performance and operating cash flow[64]. - The management conducts regular risk assessments and reports to the board on the status of significant risks and mitigation measures[62]. - The board is directly responsible for the risk management and internal control systems, with annual reviews conducted through the audit committee[171]. Environmental Impact - The company achieved a total carbon emission of 1,284.7 tons of CO2 equivalent for the year ending December 31, 2018, with a per capita emission of 4.131 tons[192]. - The company implemented measures to reduce harmful waste to 5.8 tons and non-harmful waste to 41.9 tons, with per capita reductions of 0.019 tons and 0.135 tons respectively[192]. - The company promotes the use of high-efficiency equipment and energy-saving measures, including the installation of energy-efficient lighting systems[196]. - The company’s subsidiary, Axiom Manufacturing Services Limited, achieved ISO 14001 certification, indicating compliance with environmental management standards[189]. - The company has not reported any significant non-compliance with applicable environmental standards and regulations during the reporting year[188]. Shareholder Relations - The company has established multiple channels for continuous communication with shareholders, including printed reports and online access[174]. - Shareholders holding at least 5% of the paid-up capital can request a special general meeting, with specific procedures outlined for such requests[178]. - The external auditor is required to attend the annual general meeting to assist the board in addressing shareholder inquiries[176]. Audit and Compliance - The audit committee reviewed the financial statements for the year ended December 31, 2018, and discussed matters related to audit, internal control, and financial reporting[46]. - The independent auditor, Hong Kong Li Xin De Hao CPA Limited, has audited the consolidated financial statements for the year ending December 31, 2018, and is eligible for reappointment[111]. - The company faced challenges in completing the audit for the year ended December 31, 2018, due to unresolved matters regarding inventory documentation[166]. - The company paid audit fees of $385,000 in 2018, a significant increase from $138,000 in 2017, representing a 179% rise[168]. Employment and Talent Management - The company employed approximately 348 staff as of December 31, 2018, down from 406 in 2017[31]. - The group maintains a strong focus on employee development and offers competitive compensation packages to attract and retain talent[69]. Future Plans - The company plans to propose changes to its name and amend its articles of association at the upcoming annual general meeting[184].