Financial Performance - The Group recorded revenue of approximately HK$849.1 million for FY2022, representing an increase of approximately 17.2% compared to HK$724.6 million for FY2021[26]. - For FY2022, the Group's revenue increased by approximately 17.2% to HK$849.1 million compared to HK$724.6 million in FY2021[31]. - The net profit for FY2022 was approximately HK$8.1 million, a significant turnaround from a net loss of approximately HK$136.0 million in FY2021[28]. - The gross profit for FY2022 amounted to approximately HK$97.9 million, representing an increase of approximately 162.7% compared to HK$37.3 million in FY2021[30]. - The Toys Division recorded a segment profit before taxation of approximately HK$53.1 million in FY2022, compared to a loss of approximately HK$69.1 million in FY2021[41]. - The increase in revenue and gross profit in the Toys Division was primarily due to increased purchase orders from the largest customer based in the USA[30]. Business Strategy and Opportunities - The Toys Division resumed full operations, contributing significantly to the revenue increase[16]. - The Group plans to issue Convertible Bonds amounting to HK$22.5 million and HK$14 million to explore new business opportunities and provide working capital[19]. - The potential investment in a watermelon planting project in Japan aligns with the Group's strategy to diversify into the agricultural sector[19]. - The Group aims to explore new business opportunities with lower management costs to increase market share[24]. - The Group's strategy includes diversifying into more profitable business activities to maintain competitiveness and ensure shareholder returns[18]. - The Group's management is focused on analyzing risks and returns on investments in new sectors, leveraging the experience of its executive directors[19]. Financial Stability and Funding - Cost-cutting measures have been implemented to reduce operating costs and improve financial stability[18]. - The Group's net current liabilities at the end of FY2022 were approximately HK$192.8 million, down from HK$232.4 million in FY2021[37]. - The capital deficiencies attributable to owners of the Company decreased to approximately HK$89.6 million as of December 31, 2022, from approximately HK$98.9 million in 2021[38]. - The Group's gearing ratio as of December 31, 2022, was approximately 134%, compared to 123% in 2021[38]. - The Group believes it will have sufficient working capital for at least 12 months from December 31, 2022, due to successful measures including the issuance of two convertible bonds and negotiations for extending the maturity of outstanding borrowings[50]. - Management acknowledges the need for further equity funding to address auditor concerns regarding the going concern issue and plans to contact potential investors for raising equity funds by the end of 2023[56]. - The Audit Committee agrees with Management's position on the action plan to address the Audit Qualification and supports the Group's ability to continue as a going concern[52]. - The Group's financial resources are expected to meet its obligations in the foreseeable future, contingent on the successful completion of planned actions and obtaining alternative financing[57]. - Management intends to conduct equity fundraising activities through placing new shares and/or rights issues to secure necessary funds[56]. - The Group aims to remove the Disclaimer in the audit of the consolidated financial statements for the year ending December 31, 2023, assuming all plans are executed as intended[57]. Environmental, Social, and Governance (ESG) Management - The Board emphasizes the importance of effective ESG management to enhance corporate image and reduce risks, establishing a working group to oversee ESG matters[62]. - Regular assessments of performance indicators in resource consumption and occupational safety are conducted to ensure operational efficiency[65]. - The Group has made a basic assessment of ESG-related risks and incorporated them into its risk management and internal control systems[64]. - The ESG Report covers the period from January 1, 2022, to December 31, 2022, focusing on the primary business of toy manufacturing and trading[76]. - The Group maintains the same ESG management structure and processes as the previous reporting period, ensuring consistency in monitoring ESG issues and performance[82]. - The Group has established multiple communication channels to engage stakeholders, including meetings, reports, and surveys, to identify and prioritize material ESG aspects[88]. - The Group's commitment to sustainable development includes integrating environmental and social initiatives into its business strategy to enhance competitiveness[75]. - The ESG Report adheres to the principles of materiality, quantitative measurement, balance, and consistency as outlined in the ESG Reporting Guide[72]. Environmental Performance - Total GHG emissions decreased by 8% from 7,992 tonnes in 2021 to 7,380 tonnes in 2022[108]. - Scope 1 emissions increased by 111% from 97 tonnes in 2021 to 205 tonnes in 2022[108]. - Scope 2 emissions decreased by 9% from 7,894 tonnes in 2021 to 7,175 tonnes in 2022[108]. - GHG emissions intensity per production volume improved by 31%, from 0.39 tonnes CO2e per 1,000 pieces in 2021 to 0.27 tonnes in 2022[108]. - No environmental non-compliance incidents resulted in fines or prosecutions during the 2022 reporting period[101]. - The Group adheres to the ISO 14001 environmental management system standard to enhance environmental performance[102]. - The Group's primary source of GHG emissions is from purchased electricity, followed by fuel consumption from company vehicles[103]. - The Group has established an emission reduction pathway with a long-term perspective as a directional target[103]. - The Group has complied with all relevant national and local environmental laws and regulations[99]. - The Group's environmental management initiatives are overseen by an Environmental Management Committee[99]. - The Group targets to reduce total GHG emissions by 2-3% in the coming year through various energy efficiency initiatives[109]. - Air pollutant emissions increased significantly in 2022, with Nitrogen Oxides (NOx) rising by 180% to 595,104 grams, Sulphur Oxides (SOx) increasing by 96% to 1,205 grams, and Particulate Matter (PM) up by 182% to 58,726 grams compared to 2021[115]. - The Group aims to reduce hazardous air pollutant emissions (SOx, NOx, and PM) by 2-3% in the upcoming year[116]. - Non-hazardous waste increased by 6% to 55 tonnes in 2022, while hazardous waste rose by 5% to 60 tonnes, attributed to increased production volume[124]. - The intensity of non-hazardous waste per production volume decreased by 33% to 0.02 tonnes per 10,000 pieces in 2022[124]. - The Group has implemented a waste management principle of 3R (Reduce, Reuse, Recycle) to minimize waste generation[120]. - The Group has established a resource management procedure to regulate energy use and has adopted various energy-saving measures[128]. - The Group has replaced conventional lighting with LED and procured environmentally friendly equipment to reduce energy consumption[128]. - The Group has set a long-term target for energy consumption reduction, focusing on minimizing reliance on fossil fuels[126]. - The Group has introduced a VOCs removal system to ensure emissions are within legal requirements and connected to the Ministry of Environmental Protection for monitoring[110]. - Total electricity consumption decreased by 5% from 9,435,158 kWh in 2021 to 8,922,200 kWh in 2022[130]. - Diesel consumption surged by 234%, increasing from 14,200 litres in 2021 to 47,450 litres in 2022[130]. - The Group aims to reduce energy consumption by 2-3% in the coming year[132]. - Water consumption in Zhongshan decreased by 3% from 237,511 m³ in 2021 to 230,113 m³ in 2022[137]. - Total raw materials consumption decreased by 5% from 3,057.2 tonnes in 2021 to 2,915.2 tonnes in 2022[143]. - The intensity of electricity consumption per piece decreased by 30%, from 0.47 kWh/piece in 2021 to 0.33 kWh/piece in 2022[130]. - The intensity of diesel consumption per 100 pieces increased by 147%, from 0.76 kWh/100 pieces in 2021 to 1.88 kWh/100 pieces in 2022[130]. - The Group has established a long-term water consumption reduction pathway, although water consumption remained stable in 2022[134]. - The Group continues to implement initiatives to save water, including reminders for employees to conserve water[137]. - The Group was recognized as "Hong Kong – Guangdong Cleaner Production Excellent Partners (Manufacturing)" for its environmental efforts[146]. Employment and Training - The Group employed 1,696 full-time employees as of December 31, 2022, in Zhongshan and Hong Kong[169]. - The Group has achieved zero complaints and no pollution occurrences during the 2022 reporting period[155]. - There were no cases of non-compliance regarding employment practices during the 2022 reporting period[159]. - The Group's employment policy is regularly reviewed to ensure fair and equal recruitment practices[163]. - All employees are entitled to various statutory holidays and paid leave, including maternity and paternity leave[165]. - The Group has established contingent plans to address extreme weather conditions to ensure staff safety[153]. - The Group is committed to promoting safe and fair working conditions, certified by ICTI CARE Foundation[159]. - The Group's remuneration package is benchmarked against industry norms to maintain competitiveness[165]. - Employee turnover rate increased to 36% in the 2022 Reporting Period[178]. - Average training hours for employees were 32 hours in the 2022 Reporting Period[196]. - Percentage of employees trained was 99.41% in 2022, slightly up from 99.37% in 2021[198]. - Male employees trained accounted for 38.85% in 2022, down from 41.55% in 2021[198]. - Female employees trained accounted for 61.15% in 2022, up from 58.45% in 2021[198]. - Senior management training increased to 0.53% in 2022 from 0.29% in 2021[198]. - Middle and junior management training increased to 1.60% in 2022 from 0.97% in 2021[198]. - Supervisor training increased to 1.78% in 2022 from 1.21% in 2021[198]. - General staff training decreased to 96.09% in 2022 from 97.52% in 2021[198]. - No incidents of non-compliance with occupational health and safety regulations were reported in the 2022 Reporting Period[188]. - Average training hours per employee increased to 31.87 hours in 2022 from 24.90 hours in 2021, reflecting a growth of approximately 27.5%[200]. - Male employees completed an average of 31.75 training hours in 2022, up from 25.26 hours in 2021, representing a rise of about 25.5%[200]. - Female employees completed an average of 31.95 training hours in 2022, compared to 24.64 hours in 2021, indicating an increase of approximately 29.7%[200]. - Senior management training hours rose significantly to 9.40 hours in 2022 from 4.36 hours in 2021, marking an increase of about 115%[200]. - Middle and Junior management training hours increased to 23.70 hours in 2022 from 12.31 hours in 2021, showing a growth of approximately 92.8%[200]. - General staff training hours improved to 31.91 hours in 2022, up from 24.89 hours in 2021, reflecting an increase of around 28.2%[200]. - Supervisor training hours remained constant at 48.00 hours in both 2022 and 2021, indicating stability in this category[200].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 WINSHINE SCIENCE COMPANY LIMITED 瀛 晟 科 學 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：209） 截至二零二二年十二月三十一日止年度 末期業績公告 業績概要 瀛晟科學有限公司（「本公司」）董事會（「董事會」）之董事（「董事」）欣然公告本公司及其附 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財務業績， 與截至二零二一年十二月三十一日止年度的比較數字如下： ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 WINSHINE SCIENCE COMPANY LIMITED 瀛 晟 科 學 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：209） 截至二零二二年十二月三十一日止年度 末期業績公告 業績概要 瀛晟科學有限公司（「本公司」）董事會（「董事會」）之董事（「董事」）欣然公告本公司及其附 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財務業績， 與截至二零二一年十二月三十一日止年度的比較數字如下： ...

Winshine Science Company Limited 瀛晟科學有限公 司* 股份代號: 209 (於百慕達註冊成立之有限公司) 中期報告 2022 僅供識別 INTERIM REPORT 2022 For identification purpose only Stock Code: 209 (Incorporated in Bermuda with limited liability) Winshine Science Company Limited 瀛晟科學有限 公 司* Winshine Science Company Limited 瀛晟科學有限公司 Internet Report 2022 中期報告 目錄 | 簡稱 | 2 | | --- | --- | | 公司資料 | 3 | | 管理層討論及分析 | 4 | | 簡明綜合損益表 | 8 | | 簡明綜合損益及其他全面收益表 | 9 | | 簡明綜合財務狀況表 | 10 | | 簡明綜合權益變動表 | 12 | | 簡明綜合現金流量表 | 13 | | 簡明綜合財務報表附註 | 14 | | 其他資料 | 37 | 簡稱 於本中期報告 ...

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的任何損失承擔任何責任。 WINSHINE SCIENCE COMPANY LIMITED 瀛晟科學有限公司 * (於百慕達註冊成立之有限公司) (股份代號：209) 補充公告 謹此提述瀛晟科學有限公司（「本公司」，連同其附屬公司統稱「本集團」）截至2021 年12月31日止年度（「2021財年」）之全年業績公告（「2021年業績公告」）及年報 （「2021年年報」）。除文義另有所指外，本公佈所採用之詞彙與2021年全年業績公告 及2021年年報所界定者具有相同涵義。 本公司董事會（「董事會」）之董事（「董事」）謹就本公司核數師（「核數師」） 就2021年業績公告及2021年年報所披露之2021財年財務報表所出具的不發表意見（「不 發表意見」）提供以下補充資訊，並就2021年年報第35頁至第43頁所載之企業管治報告 進行補充。 不發表意見 誠如2021年年報之綜合財務報表附注3.1所述，於2021財年，本集團產生虧損淨額約 1 ...

Financial Performance - The company reported a revenue increase of approximately 98.9% to HKD 724.6 million for the fiscal year ending December 31, 2021, compared to HKD 364.3 million in the previous fiscal year[12]. - The gross profit for the fiscal year was approximately HKD 37.3 million, up about 101.2% from HKD 18.5 million in the previous fiscal year[12]. - The net loss for the fiscal year was approximately HKD 136.0 million, compared to a net loss of HKD 95.8 million in the previous fiscal year[12]. - The toy division's revenue increased by approximately 98.9% to HKD 724.6 million, with a pre-tax segment loss of approximately HKD 69.1 million[14]. - The company reported a loss before tax of HKD 129,873,000 for 2021, compared to a loss of HKD 102,120,000 in 2020, reflecting ongoing financial challenges[189]. - Total comprehensive loss for the year was HKD 136,843,000, compared to HKD 82,378,000 in 2020, highlighting an increase in overall losses[192]. - The company reported a basic and diluted loss per share of HKD 3.71 for 2021, compared to HKD 2.62 in 2020, reflecting worsening per-share performance[189]. - The company recorded a net cash outflow from operating activities of HKD 15,164,000 in 2021, an improvement from HKD 49,595,000 in 2020[200]. Current Financial Position - As of December 31, 2021, the company's net current liabilities were approximately HKD 232.4 million, an increase from HKD 200.2 million in 2020[20]. - The company reported a capital deficit of approximately HKD 98.9 million as of December 31, 2021, compared to equity of HKD 37.9 million as of December 31, 2020, primarily due to operating losses during the year[20]. - The company's debt-to-equity ratio was approximately 123% as of December 31, 2021, up from 90% in 2020[20]. - The company held cash and cash equivalents of approximately HKD 66.6 million as of December 31, 2021, compared to HKD 56.1 million in 2020[20]. - The group’s assets, including property, plant, and equipment, had a carrying value of HKD 106,673,000, with right-of-use assets valued at HKD 14,190,000 and investment properties at HKD 44,276,000[182]. - The group had bank balances and cash of approximately HKD 66,634,000 and pledged bank deposits of HKD 1,190,000, while borrowings and notes payable amounted to HKD 263,567,000 and HKD 3,967,000 respectively[179]. Operational Measures - The company adopted cost-cutting measures to reduce operating costs and improve financial conditions for future challenges[9]. - The company has secured loan extensions and sold a subsidiary for HKD 15 million to support ongoing operations[20]. - The company remains cautiously optimistic about future prospects, driven by the continued strong performance of the toy division[10]. - The board is exploring new business opportunities while maintaining lower management costs[10]. Environmental and Social Responsibility - The board emphasizes the importance of environmental, social, and governance (ESG) management to improve corporate image and compliance with regulations[24]. - The company continues to implement COVID-19 preventive measures to ensure employee health and operational resilience[25]. - The total greenhouse gas emissions for the year 2021 amounted to 7,992 tons of CO2 equivalent, an increase of 25.9% from 6,345 tons in 2020[44]. - The company has established an environmental management committee to oversee environmental performance and compliance with ISO 14001 standards[42]. - The company is committed to reducing environmental risks and impacts through careful assessment and monitoring[42]. - The company has established a long-term reduction pathway for greenhouse gas emissions, focusing on energy-saving measures[43]. - The company has received recognition as a "Clean Production Superior Partner" in the manufacturing sector, affirming its commitment to clean production technologies[62]. Employee and Workplace Safety - The total workforce as of December 31, 2021, is 2,071 employees, with a turnover rate of 31% during the reporting period[70]. - The average training hours per employee during the reporting period is 25 hours, with 99% of employees participating in various training programs[76]. - The company has achieved OHSAS 18001 certification for occupational health and safety management systems, with no work-related fatalities or injuries reported in the past three years[73]. - The company has established a health and safety committee to oversee performance and identify potential risks in the workplace[72]. Governance and Compliance - The company confirmed its responsibility for preparing financial statements that fairly reflect the group's financial position, adhering to applicable accounting standards[164]. - The company has established an internal control system to safeguard assets and ensure reliable financial reporting, with an independent professional firm reviewing the internal control processes for the year ended December 31, 2021[167]. - The company has maintained compliance with laws and regulations, ensuring adherence to import regulations in key markets including the US, EU, Japan, and China[141]. - The company has maintained compliance with all applicable corporate governance codes as per the listing rules during the fiscal year ending December 31, 2021[147]. Community Engagement - The group sponsored cash of RMB 10,000 and food groceries to individuals facing financial difficulties[98]. - The group provided 320 hours of physical support through community service during the reporting period[98]. - The company focuses on the needs of the labor class as part of its social responsibility initiatives[98].

Winshine Science Company Limited 瀛晟科學有限公 司* 股份代號: 209 (於百慕達註冊成立之有限公司) 僅供識別 目 錄 | 簡稱 | 2 | | --- | --- | | 公司資料 | 3 | | 管理層討論及分析 | 4 | | 簡明綜合損益表 | 7 | | 簡明綜合損益及其他全面收益表 | 8 | | 簡明綜合財務狀況表 | 9 | | 簡明綜合權益變動表 | 11 | | 簡明綜合現金流量表 | 12 | | 簡明綜合財務報表附註 | 13 | | 其他資料 | 38 | 簡稱 於本中期報告內，除文義另有所指外，下列簡稱具有以下涵義： * 僅供識別 瀛 晟 科 學 有 限 公 司 2 「董事會」 指 本公司之董事會 「本公司」 指 瀛晟科學有限公司* 「董事」 指 本公司之董事 「本集團」 指 本公司及其附屬公司 「上市規則」 指 聯交所證券上市規則 「中國」 指 中華人民共和國，就本報告而言，不包括香港、澳門及台灣 「證券及期貨條例」 指 證券及期貨條例（香港法例第571章） 「聯交所」 指 香港聯合交易所有限公司 「港元」及「港仙」 指 港元及港仙 「人民幣 ...

Winshine Science Company Limited 瀛晟科學有限公 司* 股份代號: 209 (於百慕達註冊成立之有限公司) 年 報 僅供識別 Stock Code: 209 (Incorporated in Bermuda with limited liability) Winshine Science Company Limited 瀛晟科學有限公 司* For identification purpose only Winshine Science Company Limited 瀛晟科學有限公司 二零二零年年報 目錄 | 簡稱 | 2 | | --- | --- | | 公司資料 | 3 | | 主席報告 | 4 | | 管理層討論及分析 | 5 | | 環境、社會及管治報告 | 9 | | 董事履歷 | 25 | | 董事會報告 | 28 | | 企業管治報告 | 34 | | 獨立核數師報告 | 43 | | 綜合損益表 | 50 | | 綜合損益及其他全面收益表 | 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 | | ...

Financial Performance - For the six months ended June 30, 2020, the group recorded revenue of HKD 111.9 million, a decrease of 32.4% compared to HKD 165.4 million for the same period in 2019, primarily due to the impact of COVID-19 [9] - The net loss for the group decreased by 9.6% to HKD 36.6 million from HKD 40.5 million in the same period last year, attributed to active cost-saving measures and reduced losses in the securities investment sector [9] - The toy division reported a loss of HKD 29.3 million for the period, a significant decline from a profit of HKD 13.1 million in the same period of 2019, mainly due to production halts caused by COVID-19 [10] - The securities investment sector improved its losses by 68.0%, with losses decreasing from HKD 9.9 million to HKD 3.1 million compared to the same period in 2019 [11] - Revenue for the six months ended June 30, 2020, was HKD 111,870,000, a decline of 32.4% from HKD 165,402,000 in the same period of 2019 [20] - The gross loss for the period was HKD 8,547,000, compared to a gross profit of HKD 11,714,000 in the prior year [20] - The net loss for the period was HKD 36,579,000, slightly improved from a net loss of HKD 40,502,000 in the previous year [23] - The company reported a loss of approximately HKD 36,579,000 for the six months ended June 30, 2020, compared to a loss of HKD 40,502,000 for the same period in 2019, representing a 4.7% improvement in losses year-over-year [39] - The company reported a pre-tax loss of HKD 35,972,000 for the six months ended June 30, 2020, compared to a pre-tax loss of HKD 38,366,000 for the same period in 2019, indicating a slight improvement [55] - The company’s toy segment reported a pre-tax loss of HKD 29,348,000 for the six months ended June 30, 2020, compared to a loss of HKD 13,065,000 in the same period of 2019 [55] - The company reported a loss attributable to owners of HKD 36,579,000 for the six months ended June 30, 2020, compared to a loss of HKD 40,502,000 in the same period of 2019, showing an improvement of approximately 10% [67] Assets and Liabilities - As of June 30, 2020, the group's current assets were HKD 263.98 million, down from HKD 333.36 million as of December 31, 2019, with cash and cash equivalents at HKD 24.67 million [16] - The group's current ratio was maintained at 0.64 as of June 30, 2020, compared to 0.84 as of December 31, 2019 [16] - The total amount of loans was HKD 260.1 million as of June 30, 2020, compared to HKD 254.4 million as of December 31, 2019 [16] - The company's attributable equity decreased by 33% to HKD 80,598,000 as of June 30, 2020, compared to HKD 120,279,000 as of December 31, 2019, primarily due to losses recorded during the period [17] - The capital-to-debt ratio increased to approximately 82% as of June 30, 2020, up from 71% as of December 31, 2019 [17] - The total liabilities as of June 30, 2020, amounted to HKD 413,376,000, compared to HKD 399,013,000 as of December 31, 2019 [25] - The company's cash and cash equivalents decreased to HKD 24,666,000 from HKD 89,280,000 as of December 31, 2019 [25] - As of June 30, 2020, the company's total equity was HKD 80,598,000, a decrease from HKD 164,337,000 as of January 1, 2020, indicating a decline of 51% [29] - The company has a net current liability of approximately HKD 149,394,000 as of June 30, 2020, with bank balances and cash of HKD 24,666,000 and pledged bank deposits of HKD 34,752,000 against loans of HKD 260,098,000 due within the next twelve months [39] - The total cost of inventory recognized as an expense was HKD 119,743,000, down from HKD 155,764,000 in the previous year, reflecting a decrease of approximately 23% [64] - The company’s total assets as of June 30, 2020, included issued share capital of HKD 366,186,000 and share premium of HKD 942,400,000 [29] - As of June 30, 2020, total assets amounted to HKD 524,071,000, a decrease from HKD 595,752,000 as of December 31, 2019, representing a decline of approximately 12% [56] - Reportable segment assets for the toy division were HKD 370,517,000, down from HKD 436,890,000 in the previous year, indicating a decrease of about 15% [56] Cash Flow and Investments - The net cash outflow from operating activities for the six months ended June 30, 2020, was HKD 85,836,000, an improvement from HKD 102,859,000 in the same period of 2019, reflecting a 16.6% reduction in cash burn [32] - The company reported a net cash inflow from investing activities of HKD 19,804,000 for the six months ended June 30, 2020, compared to a net cash outflow of HKD 29,399,000 in the same period of 2019 [32] - The company is negotiating with lenders to extend the maturity of existing loans, with an agreement to extend the due date to May 11, 2021 [41] - The company is implementing cost-saving measures to improve operational cash flow and meet working capital needs [41] - The company is considering liquidating certain investment properties and/or listed securities to strengthen cash flow if necessary [41] - The company recognized rental income of HKD 156,000 from a related party during the six months ended June 30, 2020, consistent with the previous year [97] Corporate Governance and Compliance - Major shareholders include Zhongce Group Limited with a 17.80% stake and Mr. Ji with a 13.57% stake as of June 30, 2020 [107] - The company maintained compliance with all applicable corporate governance code provisions during the six months ended June 30, 2020 [110] - The company has adopted a set of self-regulatory guidelines for directors' securities transactions, which are not less stringent than the standard guidelines outlined in the listing rules [111] - The audit committee has reviewed the accounting principles and policies adopted by the company, confirming that the unaudited condensed consolidated results for the six months ended June 30, 2020, were prepared in accordance with applicable accounting standards [113] - During the six months ended June 30, 2020, the company or any of its subsidiaries did not purchase, sell, or redeem any of the company's listed shares [114] Employee and Operational Expenses - Employee benefits expenses totaled HKD 54,411,000, down from HKD 59,728,000 in the previous year, indicating a decrease of about 9% [64] - Total short-term employee benefits for key management personnel decreased to HKD 2,042,000 in 2020 from HKD 3,424,000 in 2019 [99] - The company recognized government subsidies of HKD 84,000 related to COVID-19, which were part of the employment support scheme provided by the Hong Kong government [58] Investment Properties and Securities - The fair value of the group's securities portfolio decreased to HKD 3.5 million as of June 30, 2020, down from HKD 6.9 million at the end of 2019 [11] - The fair value of financial assets measured at fair value through profit or loss was approximately HKD 3,537,000 as of June 30, 2020, down from HKD 6,891,000 as of December 31, 2019 [95] - The company’s investment properties are held for rental income or capital appreciation, with valuations conducted by independent valuers [70] - The company’s investment properties in Suzhou were valued using the depreciated replacement cost method and direct comparison method, reflecting a strategic approach to property valuation [71]

Winshine Science Company Limited (於百慕達註冊成立之有限公司) 瀛晟科學有限公 司* 股份代號: 209 2019 年 報 僅供識別 2019 Stock Code: 209 (Incorporated in Bermuda with limited liability) Winshine Science Company Limited 瀛晟科學有限公 司* For identification purpose only Annual Report Winshine Science Company Limited 於本年報內，除文義另有所指外，下列簡稱具有以下涵義： | 「董事會」 | 指 | 本公司之董事會 | | --- | --- | --- | | 「本公司」 | 指 | 瀛晟科學有限公司* | | 「董事」 | 指 | 本公司之董事 | | 「本集團」 | 指 | 本公司及其附屬公司 | | 「上市規則」 | 指 | 聯交所證券上市規則 | | 「中國」 | 指 | 中華人民共和國，就本報告而言，不包括香港、澳門及台 | | | | 灣 | | 「證券及期貨條例」 ...