Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 1,559,192, a slight increase of 0.02% compared to HKD 1,556,820 in the same period of 2021[9] - Operating profit increased significantly to HKD 103,532, compared to HKD 55,827 in the previous year, representing an increase of 85.4%[9] - Net profit attributable to the company's owners for the period was HKD 95,535, up from HKD 27,812, marking a growth of 243.5%[9] - Basic and diluted earnings per share for the period were HKD 0.20, compared to HKD 0.06 in the previous year, reflecting a 233.3% increase[9] - Total comprehensive income for the six months ended June 30, 2022, was HKD 12,545,000[22] - The company reported a profit attributable to owners of HKD 27,812,000 for the six months ended June 30, 2022[22] - The company reported a profit attributable to owners of HKD 95,500,000 for the six months ended June 30, 2022, compared to HKD 27,800,000 in the same period last year, primarily due to an increase in property values[125] Assets and Liabilities - Total assets as of June 30, 2022, amounted to HKD 7,928,902, an increase from HKD 7,747,276 at the end of 2021[13] - Total liabilities increased to HKD 3,449,783 from HKD 3,268,739, indicating a rise of 5.5%[18] - The company’s total equity as of June 30, 2022, was HKD 4,479,119,000, an increase from HKD 4,376,071,000 a year earlier[22] - Total loans as of June 30, 2022, were HKD 2,126,439,000, up from HKD 2,075,718,000 as of December 31, 2021, indicating an increase of approximately 2.4%[108] - The group’s trade receivables amounted to HKD 1,035,574,000 as of June 30, 2022, compared to HKD 1,006,175,000 as of December 31, 2021, reflecting an increase of about 2.9%[101] Cash Flow and Investments - Operating cash flow generated was HKD 26,068,000, compared to a cash outflow of HKD 404,000 in the same period last year[26] - Net cash used in investing activities was HKD 23,893,000, a significant decrease from HKD 217,485,000 in the previous year[26] - Cash and cash equivalents at the end of the period amounted to HKD 406,207,000, down from HKD 532,783,000 year-on-year[26] - The company recognized a net exchange gain of HKD 16,635,000 for the six months ended June 30, 2022, compared to a loss of HKD 2,827,000 in the same period of 2021, indicating a significant turnaround[73] Dividends - The company declared a dividend of HKD 9,570, compared to HKD 7,177 in the previous year, representing an increase of 33.3%[9] - The company declared dividends to shareholders totaling HKD 11,963,000 during the period[22] - The company declared an interim dividend of HKD 0.02 per share, totaling HKD 9,570,000, compared to HKD 7,177,000 in the previous year, marking an increase of 33%[78] Segment Performance - For the six months ended June 30, 2022, reported segment performance was HKD 95,953,000, an increase from HKD 55,645,000 in the same period of 2021, representing a growth of 72%[64] - North America revenue increased to HKD 213,769,000 in 2022 from HKD 171,028,000 in 2021, reflecting a growth of 25%[68] - The EMS segment revenue increased by 0.3% to HKD 1,528,000,000, with segment profit rising 8.2% to HKD 41,200,000[127] - The property holding segment recorded revenue of HKD 31,200,000, down 5.6% from HKD 33,000,000, but segment profit improved to HKD 54,800,000 from HKD 17,600,000[128] Financial Management and Risk - The company has established interest rate swap contracts to hedge against the risk of rising interest on floating-rate loans[39] - The company is currently evaluating the financial impact of adopting new accounting standards and interpretations[35] - The financial risk management section does not include all disclosures required by annual financial statements, and should be read in conjunction with the annual financial report as of December 31, 2021[38] - The company has not experienced any changes in the risk management department since year-end[40] - The group anticipates an increase in loan interest rates and is taking measures to hedge against related risks[137] Operational Challenges - The company faced significant challenges in operations due to global supply chain disruptions and semiconductor shortages, impacting its ability to deliver goods[135] - The group is addressing material shortages and supply chain issues by closely collaborating with customers to provide timely feedback and suggestions for remedial measures[137] - Customer orders and forecasts remain strong, and the group is optimistic about regaining growth in the EMS business once material shortages and supply chain issues are resolved[137] Corporate Governance and Shareholding - The company has complied with the corporate governance code, except for the separation of roles between the Chairman and CEO, which are held by Wang Zhongmou since February 2003[156] - The company has adopted the standard code for securities transactions by directors and confirmed compliance by all directors for the six months ended June 30, 2022[157] - As of June 30, 2022, the major shareholder Salop Hong Kong Limited holds 135,828,569 shares, representing 28.39% of the issued shares[145] - The major shareholder Cantrust (Far East) Limited holds 126,298,413 shares, representing 26.40% of the issued shares[145]

Financial Performance - The profit attributable to owners of Wong's International Holdings for the year ended December 31, 2021, was HK$89.5 million, compared to a loss of HK$761.7 million in the previous financial year[13]. - Earnings per share for the year was HK$0.19, compared to a loss per share of HK$1.59 for the last financial year[13]. - The Group's revenue for the year was HK$3,256.7 million, slightly up from HK$3,224.6 million in the previous year[13]. - Operating profit for the year was HK$120.3 million, a turnaround from an operating loss of HK$375.1 million in the last financial year[13]. - The profit after income tax for 2021 was HK$89 million, a significant recovery from a loss of HK$762 million in 2020[49]. - The operating profit margin improved to 3.7% in 2021 from a loss margin of 11.6% in 2020, reflecting a 15.3 percentage point increase[62]. - The net profit margin for 2021 was 2.7%, a recovery from a loss margin of 23.6% in 2020, representing a 26.3 percentage point improvement[62]. - Profit before income tax for 2021 was HK$126,662, compared to a loss of HK$735,630 in the previous year[64]. Property and Asset Management - The decrease in the value of properties held by the Group and its joint ventures was HK$25.5 million, significantly reduced from a decrease of HK$866.0 million in the last financial year[13]. - The Group's properties are primarily for leasing purposes, which did not impact cash flow despite unrealized property value decreases[13]. - The improvement in operating results was driven by the reduction in the decrease of property values held by the Group[13]. - The Group continues to focus on property management and leasing strategies to enhance revenue streams[13]. - The Group's total assets as of 2021 were HK$7,747 million, compared to HK$7,586 million in 2020[52]. - The Group's total liabilities decreased slightly to HK$3,269 million in 2021 from HK$3,252 million in 2020[52]. Banking and Financial Position - As of December 31, 2021, the Group's total banking facilities amounted to HK$3,621.5 million, an increase from HK$3,221.7 million in 2020, with total bank borrowings at HK$2,075.7 million[19]. - The Group's cash and cash equivalents, short-term bank deposits, and restricted cash were HK$1,414.9 million as of December 31, 2021, slightly down from HK$1,422.1 million in 2020[19]. - The net gearing ratio for the Group as of December 31, 2021, was 0.16, compared to 0.15 in 2020, calculated as net debt divided by total equity[23]. Employee and Remuneration - The Group employed approximately 3,500 employees as of December 31, 2021, with a remuneration policy based on job nature, qualifications, and experience[32]. - The Group's employee benefit expenses to revenue ratio increased to 14.9% in 2021 from 13.8% in 2020[62]. - The total emoluments for Mr. Wong Chung Mat, Ben, is HK$4,506,749, while Ms. Wong Yin Man, Ada, receives HK$2,406,222[127]. Strategic Outlook and Development - Future outlook includes monitoring market conditions and potential opportunities for property acquisitions and expansions[13]. - The Group is focused on developing a new manufacturing facility in Vietnam with a floor area of 30,000 square meters, expected to be completed in 2022[38]. - The Group plans to closely collaborate with customers to find alternative sources of materials due to current supply chain difficulties[38]. - The business review highlights future development plans and risks, emphasizing the importance of strategic partnerships[83]. Customer and Supplier Relationships - The largest customer accounted for 40% of sales, indicating a significant reliance on key clients[88]. - The largest supplier accounted for 8% of the Group's purchases, while the five largest suppliers combined accounted for 29%[94]. - The largest customer represented 44% of the Group's sales, and the five largest customers combined accounted for 76%[94]. - The Group aims to build long-term relationships with suppliers to ensure high-quality product delivery[90]. Environmental and Social Responsibility - The company is committed to environmental responsibility, actively working to reduce emissions and waste[81]. - The Group's performance on environmental and social matters is outlined in the Environmental, Social and Governance Report of the Annual Report[195]. - The Board regularly assesses and reviews environmental, social, and governance risks and opportunities, formulating strategies to ensure effective control systems are in place[200]. - The Group's ESG Strategy aims for high-level positive outcomes in five major areas, including ethical governance and providing high-quality, safe products[200]. Shareholder Information - Mr. Wong Chung Mat, Ben, holds 136,828,569 shares, representing approximately 28.60% of the issued shares[134]. - Ms. Wong Yin Man, Ada, holds 1,000,000 shares, representing approximately 0.21% of the issued shares[134]. - Salop Hong Kong Limited, a company wholly owned by Mr. Wong Chung Mat, Ben, holds 135,828,569 shares, representing approximately 28.39% of the issued shares[140]. - The Company adopted a share option scheme on June 26, 2020, but no options have been granted under this scheme as of December 31, 2021[151].

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 1,556,820, an increase of 8.2% compared to HKD 1,438,904 in 2020[7] - Operating profit for the period was HKD 55,827, a significant recovery from an operating loss of HKD 269,741 in the same period last year[7] - The net profit attributable to the company's owners was HKD 27,812, compared to a loss of HKD 613,166 in the previous year[7] - The company reported a total comprehensive income of HKD 51,867, a recovery from a loss of HKD 662,945 in the previous year[9] - Total comprehensive income for the six months ended June 30, 2021, was HKD 51,867,000, compared to a loss of HKD 662,945,000 for the same period in 2020[18] - Cash flow from operating activities generated HKD 41,298,000, a significant improvement from a cash outflow of HKD 404,000 in the previous year[21] - The company reported a profit attributable to owners of HKD 27,812,000 for the six months ended June 30, 2021, compared to a loss of HKD 613,166,000 in the same period of 2020[77] - Basic earnings per share for the six months ended June 30, 2021, was HKD 0.06, a significant improvement from a loss of HKD 1.28 per share in 2020[77] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 7,585,931, a decrease from HKD 7,703,225 as of December 31, 2020[12] - The company's cash and cash equivalents increased to HKD 680,202 from HKD 532,783 at the end of 2020[12] - The total equity attributable to the owners of the company was HKD 4,333,774, compared to HKD 4,376,071 at the end of 2020[15] - The company reported a total equity of HKD 4,376,071,000 as of June 30, 2021, up from HKD 4,328,924,000 a year earlier[18] - The company’s total reserves increased to HKD 4,175,198,000 as of June 30, 2021, from HKD 4,128,047,000 a year earlier[18] - The total liabilities for derivative financial instruments as of June 30, 2021, amounted to HKD 18,576,000, down from HKD 26,592,000 as of December 31, 2020, indicating a decrease of approximately 30.3%[37][38] Dividends - The company declared a dividend of HKD 9,570, down from HKD 7,177 in the previous year[7] - The interim dividend declared was HKD 0.015 per share, totaling HKD 7,177,000, down from HKD 0.02 per share and HKD 9,570,000 in 2020[74] Segment Performance - For the six months ended June 30, 2021, the EMS segment reported external revenue of HKD 1,523,794, while the property holding segment generated rental income of HKD 33,026, totaling HKD 1,556,820 in external revenue[51] - The reported segment performance for the EMS segment was HKD 55,645, compared to a loss of HKD 582,149 in the same period of 2020[58] - The property holding segment recorded revenue of HKD 33,000,000, down from HKD 34,400,000 in the same period last year, with a segment profit of HKD 17,600,000 compared to a loss of HKD 630,400,000 in the previous year[119] Cash Flow and Financing - Net cash used in investing activities was HKD 185,617,000, compared to HKD 217,485,000 in the prior year, indicating a reduction in cash outflow[21] - The company’s financing activities resulted in a net cash outflow of HKD 3,353,000, compared to a net inflow of HKD 61,344,000 in the previous year[21] - The company’s cash flow from financing activities included new bank loans of HKD 745,000,000, an increase from HKD 445,000,000 in the prior year[21] - As of June 30, 2021, total loans amounted to HKD 2,109,795,000, a slight increase from HKD 2,038,670,000 as of December 31, 2020[17] Accounting and Compliance - The company has not yet adopted several new accounting standards and amendments effective from January 1, 2021, including the revised Hong Kong Financial Reporting Standard No. 16 related to rent concessions due to COVID-19, which will take effect on April 1, 2021[29] - The audit committee, composed of three independent non-executive directors, reviewed the accounting principles and practices adopted by the group, discussing audit, internal control, and financial reporting matters[152] Shareholder Information - The company’s major shareholder, Wang Zhongmo, holds 28.60% of the issued shares, amounting to 136,828,569 shares[130] - Salop Hong Kong Limited holds 135,828,569 shares, representing 28.39% of the total shares[134] - HSBC International Trustee Limited holds 119,452,699 shares, representing 24.96% of the total shares[134] - Wang Zhongya holds 90,308,532 shares, representing 18.87% of the total shares[137] - Kong King International Limited holds 88,073,532 shares, representing 18.41% of the total shares[134] Operational Developments - The group is focusing on expanding its EMS business in Hai Duong Province, Vietnam, with a new facility expected to be completed in Q1 2022, covering an area of 30,000 square meters[126] - The EMS business aims to expand its customer base, control costs, and enhance operational efficiency while providing value-added services[127] - The group has signed contracts to lease approximately 17,000 square meters of new land for the expansion of its facilities[126] - As of June 30, 2021, the group employed approximately 3,700 employees, with a compensation policy based on job nature, qualifications, and experience[125]

Financial Performance - The loss attributable to owners of Wong's International Holdings for the year ended December 31, 2020, amounted to HK$761.7 million, compared to a profit of HK$266.3 million in the previous financial year[13]. - Revenue for the year ended December 31, 2020, was HK$3,224.6 million, down from HK$3,781.2 million in the last financial year, representing a decrease of approximately 14.7%[16]. - The operating loss for the year was HK$375.1 million, compared to an operating profit of HK$245.2 million in the previous year, indicating a significant decline in operational performance[16]. - The net loss for the year was HK$761.7 million, a stark contrast to the profit of HK$266.3 million in 2019, reflecting a change of 386.5%[77]. - Total assets decreased to HK$7,585.9 million in 2020 from HK$8,183.2 million in 2019, a reduction of approximately 7.3%[77]. - Total liabilities increased to HK$3,252.2 million in 2020 from HK$3,177.0 million in 2019, marking an increase of about 2.4%[77]. - The return on equity for 2020 was -17.6%, down from 5.3% in 2019, a decline of 22.9 percentage points[62]. - The company's current ratio remained stable at 1.5 times for both 2020 and 2019[74]. - The loss per share for 2020 was HK$1.59, compared to a profit per share of HK$0.56 in 2019[74]. Segment Performance - The EMS Division generated revenue of HK$3,157.2 million, a decrease of 11.3% from HK$3,560.0 million in the last financial year[22]. - The EMS Division's attributable segment profit was HK$132.8 million, down 16.6% from HK$159.2 million in the previous year[22]. - The Property Holding Division reported revenue of HK$67.5 million, a significant drop from HK$221.2 million in the last financial year, primarily due to the previous year's sale of One Harbour Square[22]. - The Property Holding Division incurred a segment loss of HK$780.1 million, compared to a profit of HK$197.9 million in the previous year, driven by a decrease in property values[22]. Dividends - An interim dividend of HK$0.02 per share was paid for 2020, down from HK$0.035 in 2019, with a proposed final dividend of HK$0.02 per share[16]. - The company has adopted a dividend policy to maintain reasonable returns on investment, with the payout ratio based on profit performance[19]. - The company is subject to shareholder approval for the proposed final dividend payment[19]. Banking and Financial Position - As of December 31, 2020, the Group's total banking facilities amounted to HK$3,221.7 million, a decrease from HK$3,311.6 million in 2019[27]. - Total bank borrowings increased to HK$2,038.7 million in 2020 from HK$1,936.2 million in 2019[27]. - Cash and cash equivalents and short-term bank deposits rose to HK$1,419.1 million as of December 31, 2020, compared to HK$1,185.2 million in 2019[27]. - The Group's net bank borrowing decreased to HK$619.6 million in 2020 from HK$751.0 million in 2019[28]. - The net gearing ratio improved to 0.15 in 2020 from 0.16 in 2019[29]. Exchange and Currency Impact - The appreciation of Renminbi in the second half of 2020 resulted in an exchange loss of HK$51.0 million, compared to an exchange gain of HK$9.2 million in the previous financial year[13]. - Gains on currency translation difference of HK$131.4 million in other comprehensive income offset the exchange loss in the consolidated income statement[13]. - The Group incurred an exchange loss of HK$51.0 million due to the appreciation of the Renminbi in the second half of 2020[36]. Market and Operational Strategy - The Group plans to enhance its competitive edge by focusing on customer base expansion, cost control, and value-added services[39]. - The Directors expect the market conditions for commercial properties in Hong Kong to stabilize as the pandemic is gradually brought under control[39]. - The EMS business has established a manufacturing facility in Hai Duong Province, Vietnam, to meet the needs of global customers, with a new site of approximately 17,000 square meters leased for expansion[36]. Shareholder Information - As of December 31, 2020, Mr. Wong Chung Mat, Ben holds 136,828,569 shares, representing approximately 28.60% of the issued shares[142]. - Salop Hong Kong Limited, wholly owned by Mr. Wong Chung Mat, Ben, holds 135,828,569 shares, accounting for approximately 28.39% of the issued shares[149]. - HSBC International Trustee Limited holds 119,307,699 shares, which is about 24.93% of the issued shares[149]. - Wong Chung Ah, Johnny has a beneficial ownership of 90,163,532 shares, representing approximately 18.84% of the issued shares[149]. - Kong King International Limited holds 87,928,532 shares, accounting for approximately 18.38% of the issued shares[149]. Corporate Governance and Compliance - The board of directors has confirmed the independence of all non-executive directors, ensuring compliance with regulatory standards[118]. - The company continues to monitor and comply with the regulations regarding the disclosure of shareholdings[145]. - The Company has maintained directors' and officers' liability insurance throughout the year for legal actions against its directors and officers[183]. Share Option Schemes - The old share option scheme expired on June 2, 2020, and a new share option scheme was adopted on June 26, 2020[157]. - No options were granted under the new share option scheme from its adoption date until December 31, 2020[159]. - The overall limit on the number of shares which may be issued under the New Scheme must not exceed 30% of the shares of the Company in issue from time to time[171].

Financial Performance - The company reported a revenue of HKD 1,438,904,000 for the six months ended June 30, 2020, a decrease from HKD 2,001,020,000 in the same period of 2019, representing a decline of approximately 28.1%[6] - The operating loss for the period was HKD 269,741,000, compared to an operating profit of HKD 162,012,000 in the previous year[6] - The net loss attributable to the owners of the company was HKD 613,166,000, a significant decline from a profit of HKD 246,324,000 in the prior year[8] - The company reported a basic and diluted loss per share of HKD 1.28, compared to earnings of HKD 0.51 per share in the same period last year[6] - The total loss for the group was HKD (582,149,000) for the six months ended June 30, 2020, compared to a profit of HKD 288,939,000 for the same period in 2019[86] - The EMS segment reported revenue of HKD 1,404.5 million, down from HKD 1,815.1 million year-on-year, with a segment profit of HKD 48.2 million, a decrease of 25.4% from HKD 64.7 million[155] Assets and Liabilities - Total assets as of June 30, 2020, were HKD 7,584,053,000, down from HKD 8,183,236,000 as of December 31, 2019, indicating a decrease of approximately 7.3%[19] - The company’s total liabilities increased, reflecting ongoing financial challenges amid market conditions[19] - Total liabilities rose from HKD 3,255,129 thousand to HKD 3,177,012 thousand, indicating a decrease of about 2.4%[22] - The group’s total liabilities were reported at HKD 4,217,000,000 as of June 30, 2020[71] - The fair value of investment properties decreased to HKD 2,180,406,000 as of June 30, 2020, from HKD 2,534,016,000 at the end of 2019[110] Cash Flow and Liquidity - Cash flow hedges resulted in a loss of HKD 23,084,000 for the period, compared to a loss of HKD 5,498,000 in the previous year[9] - Cash and cash equivalents decreased by HKD 147,672 thousand, showing a reduction in liquidity[31] - The company maintained cash and cash equivalents of HKD 1,167.4 million as of June 30, 2020, down from HKD 1,185.2 million at the end of 2019[157] Equity and Retained Earnings - Total equity increased from HKD 4,328,924 thousand to HKD 5,006,224 thousand, representing a growth of approximately 15.6%[22] - The company’s retained earnings increased from HKD 3,838,752 thousand to HKD 4,462,445 thousand, a growth of about 16.3%[22] Revenue Breakdown - Revenue from North America decreased to HKD 325,098, down 32.4% from HKD 480,449 in 2019[88] - Revenue from Asia (excluding Hong Kong) was HKD 682,542, a decline of 7.6% compared to HKD 739,180 in 2019[88] - Revenue from Europe decreased to HKD 224,344, down 25.1% from HKD 299,674 in 2019[88] - Revenue from Hong Kong dropped significantly to HKD 206,920, a decrease of 57.0% from HKD 481,717 in 2019[88] Corporate Governance - The company has complied with the corporate governance code, except for the separation of roles between the Chairman and CEO, which are held by Wang Zhongji since February 2003[9] - The company currently does not intend to establish a nomination committee, as the board will handle all expected duties of such a committee[10] - The company has adopted the standard code for directors' securities transactions and confirmed compliance for the six months ending June 30, 2020[11] Strategic Initiatives - The company is focusing on strategic initiatives to enhance operational efficiency and explore potential market expansions in the future[6] - The EMS business has established a production facility in Hai Duong Province, Vietnam, aimed at meeting the needs of US clients, which is expected to provide additional backup options and new sales opportunities[162] Audit and Financial Integrity - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and practices adopted by the group[187] - The committee discussed internal controls and financial reporting matters, including the review of the unaudited interim financial information for the six months ended June 30, 2020[187] - The chairman and CEO, Wang Zhongmo, confirmed the board's commitment to maintaining high standards of financial integrity[187]

ANNUAL REPORT 2019 年 報 WONG'S INTERNATIONAL HOLDINGS LIMITED 王 氏 國 際 集 團 有 限 公 司 (Incorporated in Bermuda with limited liability) ( 於 百 慕 連 註 冊 成 立 之 有 限 公 司 ) Stock Code 股 份 代 號 : 99 商器属 caringcompany o differ | --- | --- | |-------|-----------------------------------------------------------------------------------------------------------| | | 公司資料 Corporate Information | | | 主席報告書 Chairman's Statement | | | 財務摘要 Financial Highlights | | | 五年財務概要 Five-Year Financial Summary | | | 董事會報告書 Directors' Report | ...

Financial Performance - For the six months ended June 30, 2019, the company reported a profit of HKD 246,324,000, a decrease from HKD 706,312,000 in the same period of 2018, representing a decline of approximately 65%[7] - Total revenue for the six months was HKD 1,020,000,000, compared to HKD 1,952,784,000 in the previous year, indicating a decrease of about 48%[5] - The company's net operating profit was HKD 162,012,000, down from HKD 187,480,000 in the prior year, reflecting a decline of approximately 13%[5] - The total comprehensive income for the period was HKD 238,983,000, significantly lower than HKD 691,461,000 in the same period last year, marking a decrease of around 65%[14] - The company reported earnings per share of HKD 0.51 for the period, down from HKD 1.00 in the previous year[5] - The company achieved a profit before tax of HKD 261,333 for the six months ended June 30, 2019, compared to HKD 727,304 for the same period in 2018[105] - The company recorded other income of HKD 288,939 for the six months ended June 30, 2019[105] - The company reported net finance costs of HKD (22,695) for the six months ended June 30, 2019[105] - The company’s depreciation and amortization expenses totaled HKD 34,209 for the six months ended June 30, 2019[119] - The company reported a basic earnings per share of HKD 0.51 for the first half of 2019, a decrease of 65.5% compared to HKD 1.48 in the same period of 2018[129] Assets and Liabilities - The company's total assets as of June 30, 2019, were HKD 8,248,204,000, slightly down from HKD 8,267,682,000 in the previous year[16] - Total liabilities decreased to HKD 3,215,584,000 from HKD 3,447,493,000, showing a reduction of approximately 7%[18] - As of June 30, 2019, the total equity attributable to the company's owners was HKD 4,820,189, a decrease from HKD 4,819,954 at the beginning of the year[23] - The company’s total assets as of June 30, 2019, included investment properties valued at HKD 2,568,972,000, reflecting an increase from HKD 2,506,097,000 at the end of 2018[138] - The total loans as of June 30, 2019, were HKD 2,051,413,000, down from HKD 2,161,183,000 as of December 31, 2018, indicating a reduction of approximately 5.1%[168] Cash Flow and Financing - Cash flows from operating activities generated a net cash amount of HKD 252,722, an increase from HKD 102,220 in the previous period[28] - The company reported a net cash outflow from investing activities of HKD (16,055) due to the purchase of property, plant, and equipment[28] - Financing activities resulted in a net cash outflow of HKD (141,883), primarily due to repayment of bank loans and payment of dividends[28] - The cash and cash equivalents at the end of the period amounted to HKD 609,434, compared to HKD 563,066 at the end of the previous period, indicating an increase of approximately 8.2%[28] - The company paid dividends of HKD (26,317) to its owners during the reporting period[23] - Financing costs increased to HKD 32,037,000 in the first half of 2019, up from HKD 26,694,000 in the same period of 2018, representing a 20.5% increase[120] - Total financing costs for the first half of 2019 included bank loan interest expenses of HKD 30,418,000, up from HKD 23,794,000 in the same period of 2018[120] Market and Operational Insights - The company has plans for market expansion and new product development, although specific details were not disclosed in the interim report[5] - The company is engaged in the development, manufacturing, promotion, and distribution of electronic products, as well as property holding[32] - Revenue from North America for the six months ended June 30, 2019, was HKD 480,449, while Asia (excluding Hong Kong) generated HKD 739,180[113] - The company’s revenue from external customers for the six months ended June 30, 2019, was approximately HKD 666,032,000 from three major external customers[113] Accounting and Reporting Standards - The group adopted the Hong Kong Financial Reporting Standard No. 16 "Leases" starting from January 1, 2019, which resulted in a recognition of lease liabilities amounting to HKD 23,641,000[36] - The impact of the new lease accounting policy resulted in an increase in right-of-use assets recognized at HKD 102,051,000[41] - The group did not restate comparative information for the year ended December 31, 2018, as permitted by the transition provisions of the new standard[35] - New accounting standards related to insurance contracts and financial reporting are set to take effect in 2020 and 2021, respectively[60] - The group is evaluating the financial impact of adopting new accounting standards and amendments[61] Financial Risks - Financial risks include market risk (currency and cash flow interest rate risk), credit risk, and liquidity risk[72] - The group has entered into interest rate swap contracts to hedge against rising interest rates on floating-rate loans[72] Trade Receivables and Payables - The net value of trade receivables as of June 30, 2019, was HKD 858,956,000, down from HKD 942,014,000 as of December 31, 2018[158] - The total trade receivables as of June 30, 2019, were HKD 861,109,000, reflecting a decrease from HKD 943,880,000 in the previous year[158] - The group’s trade receivables aged analysis shows that 0-60 days receivables were HKD 488,645,000, a decrease of 20.2% from HKD 612,395,000 as of December 31, 2018[163] - As of June 30, 2019, the group's trade payables amounted to HKD 624,300,000, a decrease of 18% from HKD 761,875,000 as of December 31, 2018[163]

4 WONG'S INTERNATIONAL HOLDINGS LIMITED 王 氏 國 際 集 團 有 限 公 司 (Incorporated in Bermuda with limited liability)（ 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ) Stock Code 股份代號 : 99 2018|解 Strive for __ Excellence 追求卓越 82 -17- caringcompany | --- | --- | --- | --- | --- | --- | |-------|-------|------------------------|-------|-------|------------------------------------------------| | | | 目 錄 | | | CONTENTS | | | | 公司資料 | 2 | | Corporate Information | | | | 主席報告書 | 4 | | Chairman's Statement | | | | 財務摘要 | 10 | | Financial Highl ...