Group 1 - The article provides an overview of the investment activities of Hong Kong-listed companies on August 11, 2025, including new stock activities, earnings announcements, shareholder meetings, and dividend distributions [1] Group 2 - New stock activities include companies such as ZhiNuo Pharmaceutical-B (currently in the IPO process) and Zhonghui Biotechnology-B (listing date) [1] - Earnings announcements are scheduled for companies like Baosheng International, Yuanyuan Group, and Kang Shifu Holdings among others [1] - Shareholder meetings will be held for companies including Huatai Textile, Shandong Gold, and Sichuan Chengyu Expressway [1] - Dividend distributions are noted for companies like Jianbei Miao Miao and Kangnait Optical, with specific ex-dividend and payment dates mentioned [1]

Group 1 - The company *ST Lingda (300125.SZ) and its legal representative Wang Mingsheng, along with its wholly-owned subsidiary Jinzai Jiayue New Energy Technology Co., Ltd. and its legal representative Liu Enlu, have been restricted from consumption [1] - The restriction is a result of a financing lease contract dispute with Haier Financial Leasing Co., Ltd., involving an amount of approximately RMB 11.69 million [1]

Core Viewpoint - *ST Lingda (300125.SZ) is facing consumption restrictions due to a court ruling related to a financing lease contract dispute with Haier Financial Leasing Co., Ltd., involving an amount of approximately RMB 11.69 million [1] Group 1 - The company and its legal representative, Wang Mingsheng, along with its wholly-owned subsidiary, Jinzhai Jiayue New Energy Technology Co., Ltd., and its legal representative, Liu Enlu, have been restricted from consumption [1] - The consumption restriction is a result of the company's failure to fully fulfill payment obligations as per the court's judgment [1] - The company is actively coordinating financial arrangements to resolve the issue [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 本月底法定/註冊股本總額： HKD 50,000,000 第 1 頁 共 10 頁 v 1.1.1 FF301 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00125 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | | 已發行股份總數 | | | 上月底結存 | | | 262,778,286 | | | 0 | | 262,778,286 | | 增加 / 減少 (-) | | | | 0 | | 0 | | | | 本月底結存 | | | 262,778,286 | | | 0 | | 262,778,286 | 致：香港交易及結算所有限公司 公司名稱: ...

ANNUAL REPORT 2024 / 25 SUN HING VISION GROUP HOLDINGS LIMITED 目錄 | 2 | 財務重點 | | --- | --- | | 3 | 給股東的信 | | 6 | 董事及高層管理人員 | | 8 | 企業管治報告 | | 18 | 董事會報告 | | 29 | 獨立核數師報告 | | 36 | 經審核財務報表及附註 | | 119 | 財務摘要 | | 120 | 公司資料 | 新興光學集團控股有限公司 財務重點 收入 （千港元）截至三月三十一日止年度 本公司擁有人應佔溢利（虧損） （千港元）截至三月三十一日止年度 $828,476 $702,343 $704,914 $876,741 2025 2024 2023 2022 $(28,365) $(30,558) 2025 2024 $(32,247) $9,091 2023 2022 2021 $9,608 按地域劃分之收入 截至二零二五年三月三十一日止年度 39% 亞洲 36% 歐洲 24% 美國 $701,671 2021 按業務分類劃分之收入 截至二零二五年三月三十一日止年度 1% 其他 ...

Financial Statements [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The group's revenue grew by 17.95% to HK$828.48 million, but net loss attributable to owners widened to HK$32.25 million due to increased expenses Consolidated Statement of Profit or Loss Summary | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | 828,476 | 702,343 | +17.95% | | Gross Profit | 93,771 | 74,948 | +25.11% | | Loss Before Tax | (41,132) | (39,013) | +5.43% | | Loss for the Year Attributable to Owners | (32,247) | (28,365) | +13.68% | | Basic Loss Per Share (HK cents) | (12.27) | (10.79) | +13.72% | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) Total assets slightly decreased to HK$892.95 million, and total equity reduced to HK$629.98 million due to the annual loss, while net current assets remained strong Consolidated Statement of Financial Position Summary | Indicator | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Non-current Assets | 344,893 | 342,474 | +0.71% | | Current Assets | 548,057 | 563,481 | -2.74% | | **Total Assets** | **892,950** | **905,955** | **-1.44%** | | Current Liabilities | 250,191 | 221,342 | +13.03% | | Non-current Liabilities | 12,782 | 14,218 | -10.10% | | **Total Liabilities** | **262,973** | **235,560** | **+11.64%** | | **Total Equity** | **629,977** | **670,395** | **-6.03%** | - Cash and cash equivalents significantly decreased from **HK$275 million** to **HK$185 million**, while trade receivables and inventories increased, reflecting changes in working capital structure[4](index=4&type=chunk) Notes to the Financial Statements [3. Revenue and Segment Information](index=7&type=section&id=3.%20Revenue%20and%20Segment%20Information) Total revenue is primarily from eyewear product sales and trademark licensing, with the eyewear segment incurring a loss, while Japan's market revenue significantly increased Revenue by Type of Goods or Services | Type | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Eyewear Products | 826,942 | 700,442 | | Licensing Income | 1,534 | 1,901 | | **Total** | **828,476** | **702,343** | Revenue from External Customers by Geographical Location | Region | 2025 (HK$ thousand) | 2024 (HK$ thousand) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Italy | 262,282 | 233,186 | +12.48% | | USA | 200,945 | 178,360 | +12.66% | | Japan | 93,994 | 27,021 | +247.86% | | China (excluding HK & Macau) | 87,078 | 101,118 | -13.88% | | Hong Kong & Macau | 40,591 | 46,047 | -11.85% | | Other Countries | 143,586 | 116,611 | +23.13% | - The eyewear product segment recorded a **HK$40.75 million loss**, while the trademark segment achieved a **HK$3.89 million profit**[20](index=20&type=chunk) [4. Other Income, Gains and Losses](index=11&type=section&id=4.%20Other%20Income%2C%20Gains%20and%20Losses) Total other income, gains, and losses decreased to HK$19.04 million, mainly due to reduced bank interest and foreign exchange gains, despite increased government grants Details of Other Income, Gains and Losses | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Bank Interest Income | 5,425 | 11,596 | | Government Grants | 5,223 | 520 | | Income from Sub-leasing Right-of-Use Assets | 4,526 | 4,411 | | Net Foreign Exchange Gains | 1,638 | 6,839 | | **Total** | **19,035** | **24,774** | [6. Finance Costs & 7. Income Tax Credit](index=12&type=section&id=6.%20Finance%20Costs%20%26%207.%20Income%20Tax%20Credit) Finance costs remained stable at HK$1.83 million, while the income tax credit decreased to HK$8.89 million, primarily due to deferred tax changes Finance Costs | Item | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Interest on Bank Borrowings | 982 | 1,105 | | Interest on Lease Liabilities | 850 | 840 | | **Total** | **1,832** | **1,945** | - The income tax credit for the year was **HK$8.89 million**, primarily composed of a deferred tax credit of **HK$9.34 million**[27](index=27&type=chunk) [9. Dividends & 10. Loss Per Share](index=14&type=section&id=9.%20Dividends%20%26%2010.%20Loss%20Per%20Share) No final dividend is recommended for 2025, while a 2024 special dividend of HK$3.94 million was paid, and basic loss per share increased to HK$12.27 cents - The Board does not recommend the payment of a final dividend for the year ended March 31, 2025[32](index=32&type=chunk)[38](index=38&type=chunk) - A 2024 final special dividend of **HK$3.94 million** was paid during the year, but no interim dividend was declared for 2025[31](index=31&type=chunk)[32](index=32&type=chunk) - Basic loss per share was **12.27 HK cents**, higher than **10.79 HK cents** in the prior year[3](index=3&type=chunk)[33](index=33&type=chunk) [11. Trade and Other Receivables & 12. Trade and Other Payables](index=15&type=section&id=11.%20Trade%20and%20Other%20Receivables%20%26%2012.%20Trade%20and%20Other%20Payables) Total trade receivables increased to HK$208.12 million with more overdue amounts, and total trade payables rose to HK$139.64 million, while credit terms remain consistent Ageing Analysis of Trade Receivables (before provision) | Ageing | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Current | 153,012 | 131,496 | | 90 Days or Less Overdue | 44,428 | 21,247 | | Over 90 Days Overdue | 10,684 | 7,190 | | **Total** | **208,124** | **159,933** | Ageing Analysis of Trade Payables | Ageing | 2025 (HK$ thousand) | 2024 (HK$ thousand) | | :--- | :--- | :--- | | Current and 90 Days or Less Overdue | 132,766 | 110,518 | | Over 90 Days Overdue | 6,871 | 1,250 | | **Total** | **139,637** | **111,768** | Management Discussion and Analysis [Business Review](index=16&type=section&id=Business%20Review) Consolidated turnover grew by 17.95% to HK$828 million, primarily from ODM business, but net loss widened to HK$32 million due to increased expenses and reduced other income Overall Performance Overview | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Consolidated Turnover | HK$828 million | HK$702 million | | Gross Profit Margin | 11.32% | 10.67% | | Loss for the Year Attributable to Owners | HK$32 million | HK$28 million | | Basic Loss Per Share | 12.27 HK cents | 10.79 HK cents | - Revenue growth was primarily driven by the **ODM business**, reflecting the group's success in increasing marketing efforts and establishing diversified production bases[40](index=40&type=chunk) - The expanded loss was attributed to reduced interest income and foreign exchange gains, coupled with increased marketing, business development, administrative expenses, and restructuring costs[40](index=40&type=chunk) [ODM Business](index=17&type=section&id=ODM%20Business) ODM business turnover surged by 27.57% to HK$657 million, driven by exceptional 118.92% growth in the Asian market ODM Business Turnover by Region | Region | 2025 (HK$ million) | 2024 (HK$ million) | Year-on-Year Growth | | :--- | :--- | :--- | :--- | | Europe | 298 | 265 | +12.45% | | USA | 196 | 175 | +12.00% | | Asia | 162 | 74 | +118.92% | | **Total** | **657** | **515** | **+27.57%** | [Branded Eyewear Distribution Business](index=17&type=section&id=Branded%20Eyewear%20Distribution%20Business) Branded eyewear distribution turnover declined by 8.11% to HK$170 million, mainly due to economic weakness and currency depreciation in Asia - Branded eyewear distribution business turnover decreased by **8.11%** to **HK$170 million**[43](index=43&type=chunk) - The decline in performance was primarily attributed to economic weakness in Asia (especially China) and the depreciation of Asian currencies[43](index=43&type=chunk) [Liquidity and Capital Resources](index=18&type=section&id=Liquidity%20and%20Capital%20Resources) The group maintains a sound financial position with HK$185 million cash and a 5.40% debt-to-equity ratio, but receivables turnover increased to 89 days Key Financial Ratios and Indicators (as at March 31, 2025) | Indicator | Value | | :--- | :--- | | Bank Balances and Cash | HK$185 million | | Bank Borrowings | HK$34 million | | Debt-to-Equity Ratio | 5.40% | | Net Current Assets | HK$298 million | | Current Ratio | 2.19 : 1 | | Receivables Turnover Period | 89 days (prior year: 81 days) | | Inventory Turnover Period | 63 days (prior year: 62 days) | [Prospects](index=18&type=section&id=Prospects) Management expects a challenging business environment due to geopolitics, tariffs, inflation, and unstable demand, focusing on efficiency, cost control, and new customer acquisition, with a new Vietnam plant opening next fiscal year - Expected challenges include ongoing pressure from geopolitics, new US tariffs, high inflation, and unstable market demand[47](index=47&type=chunk) - Response strategies involve enhancing production efficiency, outsourcing non-core operations, strengthening budget control, streamlining organizational structure, and optimizing the supplier network[48](index=48&type=chunk) - Strategic investment includes a new production facility in Vietnam, expected to be completed and operational in the next fiscal year, to diversify the production base[48](index=48&type=chunk) - For the branded business, the group will explore new sales channels, review its brand portfolio, and launch product series with more flexible pricing and diverse designs[49](index=49&type=chunk) Corporate Governance [Board and Committees](index=19&type=section&id=Board%20and%20Committees) The company adheres to high corporate governance standards, with a combined Chairman and CEO role, and independent non-executive directors chairing its Audit, Remuneration, and Nomination Committees - The company has complied with the Corporate Governance Code, with a deviation where the roles of Chairman and Chief Executive Officer are not separated[50](index=50&type=chunk)[51](index=51&type=chunk) - Audit, Remuneration, and Nomination Committees have been established, with members predominantly independent non-executive directors[52](index=52&type=chunk)[53](index=53&type=chunk)[54](index=54&type=chunk) - The company has adopted a Board Diversity Policy and will consider candidates based on gender, age, professional expertise, and other factors according to business needs[56](index=56&type=chunk)[57](index=57&type=chunk) [Other Matters](index=22&type=section&id=Other%20Matters) The Board decided against a final dividend for 2025, all directors complied with securities trading codes, and no listed securities were purchased, sold, or redeemed by the company - The Board resolved not to declare a final special dividend or final dividend for the year ended March 31, 2025[38](index=38&type=chunk) - All directors consistently complied with the standard code for securities transactions throughout the year[58](index=58&type=chunk) - During the year, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[59](index=59&type=chunk)

签署《重整投资协议》仅5天后，公司便发生控制权变更，ST聆达重整转型半导体能否成行？ ST聆达（300125）4月2日晚公告，因控股股东大量股份被司法划转用于抵偿债务，ST聆达变更为无控股股东、无实控人状态。这将对公司股权结构、公 司治理等产生重大影响。 而在3月28日，ST聆达刚刚确定重整方案：精测电子实控人彭骞控制的两家半导体初创企业联合组成产业投资人，与ST聆达签署了《重整投资协议》。产 业投资人拟在取得ST聆达控制权后，将处于国内领先水平的电致变色EC膜材料业务或高精度金属掩膜版业务引入公司。 除控制权突变之外，ST聆达重整或还存在潜在风险挑战。根据目前监管要求，ST聆达存在的资金占用和违规担保问题原则上在进入正式重整前需解决， 这成为重整方案能否较快实施的一大挑战。此外，重整后ST聆达能否有足够资金引入半导体优质资产或切换主业，还有待观察。 而目前，ST聆达还在被证监会立案调查中，上述诸多不确定性，似乎也为公司重整之路平添了不少挑战。 重整方案"揭晓" ST聆达公告称，3月28日公司与预重整投资人签署《重整投资协议》。这家主要营收来源已于一年前停产的光伏企业，向重整迈出重要一步。 产业投资人为合肥威 ...

Financial Performance - The group's consolidated revenue increased by 16.52% to HKD 409 million for the six months ended September 30, 2024, compared to HKD 351 million in 2023[5]. - The ODM business revenue rose by 29.15% to HKD 319 million, accounting for 78.00% of the total revenue[6]. - The gross profit margin decreased to 12.88% from 14.52% in the previous year due to intense industry competition[5]. - The loss attributable to shareholders was HKD 11 million, compared to a loss of HKD 2 million in 2023, with a basic loss per share of HKD 0.043[5]. - The brand eyewear distribution business revenue declined by 13.59% to HKD 89 million, representing 21.76% of total revenue[8]. - Revenue for the six months ended September 30, 2024, was HKD 408,829,000, representing an increase of 16.4% compared to HKD 351,306,000 for the same period in 2023[37]. - Gross profit for the same period was HKD 52,669,000, up from HKD 51,013,000, indicating a slight increase in profitability[36]. - The company reported a net loss attributable to owners of HKD 11,308,000 for the six months ended September 30, 2024, compared to a loss of HKD 2,289,000 in the prior year, reflecting a significant increase in losses[38]. - The company reported a total revenue of HKD 408,829 thousand for the six months ended September 30, 2024, compared to HKD 351,306 thousand for the same period in 2023, representing a year-over-year increase of approximately 16.4%[57]. - The company experienced a total comprehensive loss of HKD 19,559 thousand for the six months ended September 30, 2024, compared to a loss of HKD 10,662 thousand for the same period in 2023[46]. - The company reported a loss before tax of HKD 15,805 thousand for the six months ended September 30, 2024, compared to a loss of HKD 15,755 thousand in the same period of 2023[61]. - The basic loss per share for the period was HKD 4.30, compared to HKD 0.87 in the same period last year, indicating a deterioration in earnings performance[38]. Financial Position - Cash and bank balances stood at HKD 197 million, with outstanding bank loans of approximately HKD 35 million[10]. - The current ratio was 2.26:1, indicating a strong liquidity position[10]. - The net asset value decreased from HKD 670 million to HKD 661 million during the review period[10]. - Total assets as of September 30, 2024, were HKD 676,961,000, a decrease from HKD 684,613,000 as of March 31, 2024[41]. - Current assets increased to HKD 586,404,000 from HKD 563,481,000, driven by higher inventory and accounts receivable[41]. - The company’s cash and cash equivalents decreased to HKD 197,236,000 from HKD 274,529,000, indicating a reduction in liquidity[41]. - The total equity as of September 30, 2024, was HKD 661,243,000, down from HKD 670,395,000 as of March 31, 2024[44]. - The company incurred financing costs of HKD 987,000, slightly higher than HKD 898,000 in the previous period, reflecting increased borrowing costs[36]. - The company reported a foreign exchange gain of HKD 6,098,000, a significant improvement compared to a loss of HKD 17,270,000 in the prior year[36]. - The company’s cash flow from operating activities was negative at HKD 64,368 thousand for the six months ended September 30, 2024[49]. - The company’s total assets as of September 30, 2024, were HKD 698,868 thousand, a decrease from HKD 722,369 thousand as of March 31, 2024[46]. Operational Efficiency and Strategy - The company anticipates a challenging business environment due to geopolitical tensions and macroeconomic factors, which will likely lead to fluctuating demand for eyewear products[17]. - The company plans to enhance overall efficiency by improving production efficiency, tightening budget controls, and optimizing supplier networks and logistics processes[17]. - A new production line in Vietnam is expected to strengthen product supply stability and diversification[17]. - The company aims to explore new sales channels and distribution partners for its eyewear brand distribution business[18]. - The introduction of a more flexible product range with customized design elements is planned to adapt to changing consumer preferences[18]. - The company maintains a strong financial position and is confident in overcoming future challenges while creating long-term value for stakeholders[18]. Corporate Governance - The company has established an audit committee to review financial reports and ensure compliance with internal controls and risk management[20]. - The board of directors is committed to maintaining high standards of corporate governance and has adopted a diversity policy for board member selection[23]. Shareholder Information - No interim special dividend or interim dividend was declared for the six months ended September 30, 2024, compared to a special dividend of HKD 0.015 per share in 2023[11]. - The total issued and paid-up share capital remained at 262,778,286 shares, valued at HKD 26,278,000[94]. - Directors and key executives hold a total of 141,533,828 shares, representing 53.86% of the company's issued share capital[107]. - United Vision International Limited, a major shareholder, holds 141,533,828 shares, accounting for 53.86% of the issued share capital[111]. - FMR LLC holds 26,277,000 shares, representing 9.99% of the issued share capital[114]. - Fidelity Puritan Trust owns 20,999,000 shares, which is 7.99% of the issued share capital[114]. - Preferable Situation Assets Limited has 18,346,000 shares, equating to 6.98% of the issued share capital[114]. - Yeo Seng Chong holds 13,160,000 shares, representing 5.01% of the issued share capital[114]. - The Vision Trust, established by directors Gu Yi Yong and Gu Jia Yong, is the ultimate beneficiary of the shares held by United Vision International Limited[115]. - FMR LLC indirectly holds 26,277,000 shares of the company, with 2,642,000 shares owned by Fidelity Management Trust Company and 2,338,000 shares by Fidelity Investments Canada ULC[116]. - David Michael Webb owns 28,984,000 shares, with 11,794,800 shares directly held and 17,189,200 shares held through his wholly-owned company, Preferable Situation Assets Limited[117]. - Fidelity Puritan Trust directly holds 20,999,000 shares of the company as of December 29, 2017[118]. - Yeo Seng Chong holds 13,160,000 shares, with 2,842,000 shares directly held and the remainder held through various entities including Yeoman Capital Management Pte Limited[119]. - Lim Mee Hwa also holds 13,160,000 shares, with 250,000 shares directly held and the rest held through her spouse and related entities[120]. - As of September 30, 2024, no other individuals are recorded as major shareholders in the company's shares[121].

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 408,829,000, an increase from HKD 351,306,000 for the same period last year, representing a growth of approximately 16.4%[5] - Gross profit for the same period was HKD 52,669,000, compared to HKD 51,013,000 in the previous year, indicating a slight increase of 3.2%[5] - The company reported a loss attributable to owners of HKD 11,308,000 for the six months ended September 30, 2024, compared to a loss of HKD 2,289,000 in the prior year, reflecting a significant increase in losses[5] - The company reported a pre-tax loss of HKD 15,805,000 for the six months ended September 30, 2024, compared to a pre-tax loss of HKD 4,623,000 in the same period last year[23][28] - Basic loss per share attributable to the owners of the company was HKD (11,308,000) for the current period, compared to HKD (2,289,000) in the previous period[42] - The company recorded a loss attributable to shareholders of HKD 11 million, compared to a loss of HKD 2 million in the previous year[51] Assets and Liabilities - The total assets as of September 30, 2024, were HKD 676,961,000, a decrease from HKD 684,613,000 as of March 31, 2024[7] - Current assets increased to HKD 327,166,000 from HKD 342,139,000, indicating a decrease in liquidity[7] - The company’s cash and cash equivalents decreased to HKD 197,236,000 from HKD 274,529,000, showing a decline of approximately 28.1%[7] - The accounts receivable increased to HKD 224,252 thousand from HKD 159,933 thousand, with overdue accounts over 90 days rising to HKD 7,775 thousand[45] - The accounts payable increased to HKD 141,672 thousand from HKD 111,768 thousand, with overdue accounts over 90 days rising to HKD 3,541 thousand[47] - The net asset value decreased from HKD 670 million to HKD 661 million over the reporting period[57] Revenue Sources - The company recognized revenue from eyewear products amounting to HKD 408,127,000, with no revenue from other categories for the six months ended September 30, 2024[16] - Eyewear product revenue for the six months ended September 30, 2024, was HKD 350,604,000, while total revenue including licensing income reached HKD 351,306,000[25] - The external sales for eyewear products increased to HKD 408,127,000, compared to HKD 350,604,000 in the previous period, reflecting a growth of approximately 16.4%[20] - The ODM business revenue rose by 29.15% to HKD 319 million, accounting for 78% of the total revenue[52] Costs and Expenses - The total administrative costs for the period were HKD 5,076,000, with financing costs amounting to HKD 987,000[22] - The financing costs for the period were HKD 987,000, slightly higher than HKD 898,000 in the previous year[5] - The gross profit margin decreased to 12.88% from 14.52% due to intense industry competition leading to price reductions[51] - The company reported a net impairment loss on accounts receivable of HKD 166,000, down from HKD 349,000 in the previous year, indicating improved receivables management[5] Dividends - The company declared a special dividend of HKD 0.015 per share, totaling HKD 3,942,000 for the period ending March 31, 2024[41] - The company has not proposed an interim special dividend for the six months ending September 30, 2024[41] - The company did not declare any interim special dividend or interim dividend for the six months ending September 30, 2024[50] - The company will not declare any interim special dividend or interim dividend for the six months ending September 30, 2024, compared to an interim special dividend of HKD 0.015 per share in 2023[58] Operational Challenges and Strategies - The company anticipates a challenging business environment due to geopolitical tensions and inflation, which will likely lead to volatile market demand for eyewear products[61] - The company plans to enhance overall efficiency by improving production efficiency, strengthening budget control, and optimizing the supply chain and logistics processes[62] - The company will continue to explore new sales channels and distribution partnerships for its eyewear distribution business[63] - The company aims to diversify its product range by introducing more flexible pricing tiers and incorporating more design and customization elements into its products[63] - The company is committed to maintaining a strong financial position to overcome future challenges and create long-term value for stakeholders[63] - The company will carefully manage fixed asset investments and continue to invest in strategically important assets for future growth[62] - The company’s production line in Vietnam is expected to enhance product supply stability and diversification[62] - The company will review its brand portfolio and leverage opportunities to enrich it with new brands that have strong potential[63] Governance and Compliance - The company’s audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending September 30, 2024[67] - The company has established a Nomination Committee, which includes all independent non-executive directors, to review the board's structure and make recommendations for changes aligned with corporate strategy[70] - The Nomination Committee considers candidates' integrity, professional knowledge, industry experience, and commitment to the group's business when recommending or selecting candidates for the board[71] - The company has adopted a diversity policy for board members, ensuring a balanced composition that includes different genders, professional backgrounds, and industry experiences[72] - As of September 30, 2024, the board consists of one female director and seven male directors, maintaining a diverse composition[72] - The company has adopted the standard code of conduct for directors' securities transactions, confirming compliance with the regulations as of September 30, 2024[74] - During the review period, the company or its subsidiaries did not purchase, sell, or redeem any listed securities[75] Acknowledgments - The company expresses gratitude to customers for their support during the period and acknowledges the efforts of shareholders, employees, suppliers, and banks[76] - The board is composed of five executive directors and three independent non-executive directors as of November 29, 2024[77]

Financial Performance - The company's consolidated revenue for the year ended March 31, 2024, was approximately HKD 702 million, a slight decrease from HKD 705 million in 2023[10]. - The company reported a loss attributable to owners of HKD 28 million for the year, an improvement from a loss of HKD 31 million in 2023[10]. - The gross profit margin decreased to 10.67% from 15.49% in the previous year, primarily due to intense competition leading to price reductions[10]. - ODM business revenue decreased by 6.53% to HKD 515 million, accounting for 73.36% of total revenue, with significant declines in Europe and the US[11]. - Revenue from the brand eyewear distribution business increased by 22.52% to HKD 185 million, benefiting from economic rebounds in several Asian countries[12]. - The company anticipates a challenging business environment due to high inflation and interest rates, with unstable market demand for eyewear products expected in the short term[21]. - The company reported a pre-tax loss of HKD 39,013,000, compared to a loss of HKD 34,354,000 in the previous year, indicating a worsening financial performance[137]. - Net loss attributable to shareholders for the year was HKD 28,365,000, a reduction from HKD 30,558,000 in the prior year[137]. - Total assets decreased to HKD 1,246,954,000 from HKD 1,345,136,000, reflecting a decline in overall asset value[138][139]. - Current assets decreased to HKD 563,481,000 from HKD 612,410,000, indicating a reduction in liquidity[138]. - The company's cash and cash equivalents decreased to HKD 274,529,000 from HKD 328,760,000, showing a decline in cash reserves[138]. - Total equity decreased to HKD 670,395,000 from HKD 722,369,000, reflecting a decrease in shareholder value[139]. Cash Flow and Investments - The company held cash and bank balances of HKD 275 million as of March 31, 2024, with bank borrowings of approximately HKD 36 million[14]. - The company invested HKD 11,205,000 in property, plant, and equipment, up from HKD 9,163,000 in the previous year, reflecting ongoing capital expenditures[142]. - The company incurred a loss of HKD 2,001,000 from joint ventures, which was not present in the previous year[141]. - The financing activities resulted in a cash outflow of HKD 20,768,000, slightly lower than the outflow of HKD 22,072,000 in the previous year[142]. - The company paid dividends of HKD 7,884,000, consistent with the previous year[142]. Corporate Governance - The board consists of five executive directors and three independent non-executive directors, with independent directors accounting for at least one-third of the board[32]. - The company has adhered to all applicable corporate governance code provisions during the fiscal year ending March 31, 2024[30]. - The chairman and CEO roles are held by the same individual, which deviates from the corporate governance code, but the board believes this structure provides effective leadership[36]. - The board held four meetings during the fiscal year, with all directors attending all meetings[33]. - The company has established mechanisms to ensure the independence of the board, including annual reviews and independent professional advice[34]. - The company is committed to maintaining high standards of corporate governance to enhance management and protect shareholder interests[30]. - The board is responsible for formulating company policies and overall strategies while effectively overseeing business management[34]. - The company plans to maintain the current board structure while regularly reviewing its effectiveness to ensure a balance of power[36]. Risk Management - The company has established a structured risk management system to identify, assess, and report risks, ensuring effective internal controls[53]. - The group identified key risks including market risk, credit risk, and liquidity risk, which could impact its operational and financial status[68]. - The company closely monitors foreign exchange risks and utilizes forward contracts to manage risks associated with currency fluctuations[17]. - The risk management system includes regular assessments and action plans for identified risks, ensuring ongoing monitoring and improvement[56]. - No significant deficiencies were found in the risk management and internal control systems during the annual review conducted by the board[54]. Employee and Stakeholder Engagement - The group has approximately 3,200 employees as of March 31, 2024, with compensation based on individual performance and overall business results[18]. - The company emphasizes maintaining diversity and equal opportunity in its employee recruitment process[50]. - The company encourages employees to report any suspected illegal activities or corruption, ensuring anonymity and protection for whistleblowers[59]. - The group is committed to creating long-term value for stakeholders despite the anticipated challenges in the business environment[23]. Shareholder Information - The company plans to declare a special final dividend of HKD 0.015 per share for the year ended March 31, 2024[15]. - The group proposed a final special dividend of HKD 0.015 per share, amounting to approximately HKD 3,942,000[66]. - Major shareholders include United Vision International Limited, Marshvale Investments Limited, and HSBC International Trustee Limited, each holding 141,533,828 shares, representing 53.86% of the issued share capital[98]. - The company has a total of 141,533,828 shares held by The Vision Trust, representing 53.86% of the issued share capital, owned by directors Gu Yiyong and Gu Jiayong[81]. Accounting and Financial Reporting - The consolidated financial statements are prepared based on historical cost, except for certain financial instruments measured at fair value[158]. - The group assesses control over subsidiaries based on three elements, and will reevaluate if any of these elements change[160]. - Revenue from customer contracts is recognized when control of goods or services is transferred to the customer[167]. - The group recognizes revenue from transferred products based on the expected consideration amount, excluding anticipated returns or exchanges[172]. - The group will cease to recognize assets and liabilities of a subsidiary when control is lost, with any resulting gains or losses recorded in profit or loss[162]. - The group evaluates for objective evidence of impairment in joint ventures, conducting impairment tests as necessary[166]. - The group recognizes gains or losses on the sale or disposal of property, plant, and equipment based on the difference between the sale proceeds and the carrying amount of the asset[194].