Financial Performance - The company reported revenue of approximately HKD 21,961,000 for the year ended December 31, 2024, a decrease of 27.5% or about HKD 8,337,000 compared to HKD 30,298,000 for the year ended December 31, 2023[9]. - Gross profit for the year was approximately HKD 6,601,000, with a gross margin increase from 18.8% in 2023 to 30.1% in 2024[9]. - The company recorded a loss before tax of approximately HKD 17,072,000 for the year, compared to a loss of HKD 27,641,000 in the previous year[6]. - The basic loss per share attributable to the owners of the company was HKD 0.041, improving from HKD 0.072 in 2023[12]. - Total revenue for 2024 was HKD 21,433,000, down from HKD 29,547,000 in 2023, representing a decline of approximately 27.4%[15]. - The leather retail business recorded a loss of about HKD 2,004,000 in 2024, an improvement from a loss of HKD 2,857,000 in 2023[16]. - The company recorded a significant loss of approximately HKD 17,072,000 for the year, with net current liabilities of about HKD 48,866,000 and asset deficit of approximately HKD 62,021,000 as of December 31, 2024[173]. - The net loss for the year was HKD 17,072,000, compared to HKD 27,909,000 in 2023, reflecting a decrease of 38.7%[196]. - The total comprehensive loss for the year was HKD 17,038,000, compared to HKD 27,732,000 in 2023, indicating a decrease of 38.5%[196]. Revenue Breakdown - Revenue from the leather manufacturing business was approximately HKD 21,433,000, a decrease of 27.5% from HKD 29,547,000 in 2023, primarily due to reduced sales orders from brand clients[14]. - The leather manufacturing and retail businesses accounted for approximately 97.6% and 2.4% of total revenue, respectively, showing a stable revenue structure[13]. - Revenue from Hong Kong decreased by approximately 30.5% to about HKD 522,000 in 2024, compared to HKD 751,000 in 2023[16]. Expenses and Costs - Administrative and other operating expenses decreased by approximately HKD 2,843,000 to about HKD 16,516,000, attributed to improved human resource management[11]. - Financing costs rose to HKD 3,091,000 from HKD 2,931,000, an increase of 5.5%[196]. - The company recorded other losses of HKD 1,553,000, down from HKD 8,162,000, showing a significant reduction of 81.0%[196]. - Administrative and other operating expenses decreased to HKD 16,516,000 from HKD 19,359,000, a decline of 14.8%[196]. Assets and Liabilities - Total current assets decreased to approximately HKD 10,878,000 in 2024 from HKD 13,252,000 in 2023[23]. - The company’s current ratio was 0.18, slightly down from 0.20 in the previous year, indicating liquidity challenges[6]. - The debt-to-asset ratio increased to approximately 670.2% in 2024 from 522.8% in 2023[24]. - Cash and cash equivalents decreased from 997 thousand HKD in 2023 to 829 thousand HKD in 2024, a decline of approximately 16.9%[200]. - Inventory decreased significantly from 4,594 thousand HKD in 2023 to 2,010 thousand HKD in 2024, a reduction of about 56.3%[197]. - Trade payables increased from 3,100 thousand HKD in 2023 to 4,766 thousand HKD in 2024, an increase of approximately 53.7%[197]. - Non-current liabilities increased from 6,975 thousand HKD in 2023 to 13,155 thousand HKD in 2024, an increase of approximately 88.5%[197]. - The total equity attributable to owners decreased from (59,325) thousand HKD in 2023 to (62,011) thousand HKD in 2024, reflecting a decline of about 4.5%[199]. Corporate Governance - The company has adhered to the corporate governance code, with no significant issues raised during the annual review of internal controls[51]. - The board emphasizes the importance of good corporate governance to enhance shareholder value and protect shareholder interests[50]. - The board consists of six directors, including four executive directors and two independent non-executive directors, following the passing of an independent director on December 28, 2024[60]. - The company has appointed a new independent non-executive director on January 21, 2025, to comply with listing rules regarding the minimum number of independent directors[60]. - The audit committee was restructured to meet the requirement of having at least three members after the passing of an independent director[60]. - The board is responsible for overall management and oversight, including approving policies, strategies, budgets, and risk management systems[61]. - The company has adopted a standard code of conduct for securities trading by directors, confirming compliance for the year ending December 31, 2024[53]. - The board meets approximately quarterly and holds additional meetings as needed based on business requirements[58]. Risk Management - The company has a commitment to improving risk management and internal control systems as a continuous process[52]. - An independent external consultant was hired to conduct an annual review of the risk management system, which has been approved by the board and audit committee[104]. - The company has adopted insider information policies to ensure the accuracy and timeliness of disclosures, including risk identification and management processes[105]. - The audit committee has rigorously reviewed disclosures regarding significant uncertainties related to the company's ability to continue as a going concern[102]. Shareholder Relations - The company maintains good investor relations through various communication channels, including annual and interim reports published on its website[112]. - The company encourages shareholders to attend annual general meetings and allows them to raise questions regarding performance and future direction[113]. - Shareholders holding at least 10% of the paid-up capital can request the board to convene an extraordinary general meeting[114]. Future Plans - The company plans to diversify into industrial hemp cultivation and hemp fabric production, having obtained necessary permits and leased land for trials[19]. - The company aims to enhance its product lines and expand into high-end craftsmanship and sustainable fashion, targeting growth in domestic orders[18]. - The company will continue to monitor market recovery and allocate marketing resources accordingly to adapt to changing consumer behavior[20]. Employment and Staff - The group employed 109 staff as of December 31, 2024, down from 126 in 2023, with employee compensation based on job nature, performance, and tenure[39]. - The company has a pension plan where it contributes 5% of employees' monthly salaries, with a cap of HKD 1,500 per month[150].

中联发展控股(00264)发布公告，于2025年4月17日，公司就建议收购CarbonTech Asia Pacific Pty Ltd(目 标公司)的大多数股权签订不具法律约束力的谅解备忘录。 目标公司为一间于2020年于澳洲注册成立的有限公司，主要于澳洲从事提供优化引擎性能的崭新清洁技 术及服务，旨在减少引擎积碳、提高燃油效率及减少有害物排放，最终提升汽车零件的性能及寿命。澳 洲其中一间最大的超级市场正与目标公司洽商，由目标公司提供服务以检查及减少该超级市场卡车车队 的碳排放。 目标公司由FFHD HK(由方时俊先生全资拥有)持有19%股权。于本公告日期，方先生为公司执行董事、 董事会联席主席且亦为法氢新能源集团有限公司(持有法氢环保洁净有限公司(合营企业)49%股权)的控 股股东。合营企业为公司的非全资附属公司，并由公司持有51%股权。 如公司先前公告所披露，合营企业的全资附属公司法氢新能源(深圳)有限公司(合营企业深圳附属公司) 将提供Flex Fuel品牌下用于汽车、船舶、飞机及重型机械引擎的氢气喷射清洁系统的资源及技术。合营 企业深圳附属公司已订立多份服务合约，并已产生收入。于本公告日期，已进口超 ...

财务数据显示，截至2024年12月31日，中联发展控股实现营业总收入2033.68万元，同比减少27.52%； 归母净利润-1580.01万元，同比增长38.87%；毛利率30.06%，资产负债率670.15%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 4月10日，截至港股收盘，恒生指数上涨2.06%，报20681.78点。中联发展控股（00264.HK）收报2.04港 元/股，上涨12.09%，成交量413.6万股，成交额825.65万港元，振幅11.54%。 最近一个月来，中联发展控股累计跌幅27.49%，今年来累计涨幅16.67%，跑赢恒生指数1.02%的涨幅。 资料显示，中联发展控股集团有限公司(前称中玺国际控股有限公司"本公司"),经过二十多年不断积极拓 展业务,成功在品牌皮革配饰品设计及生产方面奠定重要地位。其经验丰富之管理层,成功带领本公司由 一间小型企业发展成为享誉国际的皮革产品公司,专门设计、生产及出口皮带及其他小型皮具如钱包、 记事簿、匙扣等。透过将产品售予美国、欧洲及亚洲等地的着名服装零售商,本公司为多个知名的国际 品牌创制皮革配饰品,备受全球各地崇尚打扮、讲究品质的人士所爱 ...

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 就 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 （於開曼群島註冊成立之有限公司） （股份代 號：264） 截至二零二四年十二月三十一日止年度之 年度業績公告 中 聯 發 展 控 股 集 團 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）欣 然 呈 報 本 公 司 及 其 附 屬 公 司（統 稱 為「本集團」）截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 之 年 度 業 績 連 同 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 之 比 較 數 字，詳 情 如 下。 – 1 – 綜合損益及全面收益表 截至二零二四年十二月三十一日止年度 | | | | | | | | | | | 二零二四年 | | 二零二三年 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | - ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 8,651,000, a decrease of 48.8% compared to HKD 16,914,000 in the same period of 2023[5] - Gross profit for the same period was HKD 2,051,000, resulting in a gross margin of 23.7%, down from 28.7% in 2023[5] - The company reported a loss before tax of HKD 9,549,000, compared to a loss of HKD 8,175,000 in the previous year[9] - The company recorded a net loss attributable to shareholders of HKD 9,549,000, compared to HKD 8,443,000 in the same period last year[10] - The company reported a net loss of approximately HKD 9,549,000 for the six months ended June 30, 2024, compared to a loss of HKD 8,443,000 in the same period of 2023[26] - The company reported a total comprehensive loss of HKD (9,436,000) for the six months ended June 30, 2024, compared to HKD (8,165,000) in the previous year[16] - The company recorded a total segment loss of HKD (5,430,000) for the six months ended June 30, 2024, compared to a loss of HKD (4,887,000) in the same period of 2023[47] - The company reported a pre-tax loss of HKD (9,549,000) for the six months ended June 30, 2024, compared to a pre-tax loss of HKD (8,175,000) in the same period of 2023[47] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 7,386,000, significantly down from HKD 14,033,000 as of December 31, 2023[6] - The company’s total liabilities amounted to HKD 74,838,000 as of June 30, 2024, compared to HKD 73,358,000 as of December 31, 2023[49] - The company’s total liabilities as of June 30, 2024, were not explicitly stated but can be inferred to have decreased alongside the lease liabilities and trade payables[72][78] - The company’s total liabilities as of June 30, 2024, amounted to HKD 19,220,000, compared to HKD 19,517,000 as of December 31, 2023[87] - The company’s financial statements indicate significant uncertainty regarding its ability to continue as a going concern due to ongoing losses and liabilities[26] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 854,000 from HKD 997,000 at the end of 2023[12] - The net cash used in operating activities was HKD (290,000) for the six months ended June 30, 2024, compared to net cash generated of HKD 2,115,000 in the same period of 2023[18] - The company’s financing activities generated a net cash inflow of HKD 334,000 for the six months ended June 30, 2024, compared to a net cash outflow of HKD (3,083,000) in the same period of 2023[18] - The current ratio decreased to 0.12 from 0.20 year-over-year, indicating a decline in liquidity[6] Revenue Breakdown - Leather manufacturing business generated external customer revenue of HKD 8,353,000 for the six months ended June 30, 2024, a decrease of 49.3% from HKD 16,473,000 in the same period of 2023[47] - Leather retail business reported external customer revenue of HKD 298,000 for the six months ended June 30, 2024, down 32.4% from HKD 441,000 in the same period of 2023[47] - The leather manufacturing and retail business accounted for approximately 96.6% and 3.4% of total revenue, respectively, for the six months ended June 30, 2024[98] Impairment and Expenses - Impairment loss on right-of-use assets was HKD 1,224,000 for the six months ended June 30, 2024, compared to HKD 896,000 in the same period of 2023[51] - The company confirmed an impairment loss of approximately HKD 1,224,000 for manufacturing right-of-use assets for the six months ended June 30, 2024, compared to no impairment loss for the same period in 2023[69] - Administrative and other operating expenses decreased by approximately HKD 1,709,000 to about HKD 8,001,000, down from approximately HKD 9,710,000 in 2023[97] - The company’s sales and distribution costs decreased by approximately 14.1% to about HKD 887,000 for the six months ended June 30, 2024[97] Financing and Support - The company has received a commitment from an executive director to defer repayment of a loan amounting to HKD 8,000,000 until the company is able to repay[26] - The company has entered into a loan financing agreement with Mr. Zhao for an additional unsecured interest-free loan of up to HKD 20,000,000, which has been extended to May 27, 2026[30] - Mr. Zhao has provided a financial support letter agreeing not to demand repayment of shareholder loans and other amounts totaling approximately HKD 12,844,000 until the group is able to repay[31] - The company has established a loan financing agreement with an independent third party for a maximum loan of HKD 40,000,000, with an annual interest rate of 20%[34] Business Operations - The company is in the leather manufacturing, retail, and industrial hemp cultivation sectors, with no significant changes in the nature of its main business during the reporting period[20] - The company is exploring diversification into industrial hemp cultivation and hemp textile production, having obtained relevant permits and initiated pilot cultivation[105] - Management plans to implement strict cost control measures and optimize operations and financial management in response to the challenging business environment[104] Corporate Governance - The company has complied with the corporate governance code during the reporting period, with no significant deviations noted[132] - The audit committee, consisting of three independent non-executive directors, reviewed the financial reporting process and internal controls for the six months ending June 30, 2024[136] - The company has not established an internal audit function but will engage an independent third party annually for this purpose[133] Shareholder Information - The major shareholder, Zhao Jingfei, holds 62.04% of the company's shares, totaling 256,024,406 shares[120] - The company has not adopted any new stock option plans since the expiration of the previous plan on February 17, 2013[126] - No stock options were granted, exercised, lapsed, or canceled during the reporting period ending June 30, 2024[126]

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 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 （於開曼群島註冊成立之有限公司） （股份代 號：264） 截至二零二四年六月三十日止六個月 之中期業績公告 中 聯 發 展 控 股 集 團 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）在 此 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至 二 零 二 四 年 六 月 三 十 日 止 六 個 月（「報 告 期 間」）之 未 經 審 核 簡 明 綜 合 業 績，連 同 二 零 二 三 年 的 比 較 數 字 如 下： – 1 – 中期簡明綜合損益及其他全面收益表 截至二零二四年六月三十日止六個月 | --- | --- | --- | --- | |-------------------------------------------------- ...

Financial Performance - The leather manufacturing business reported a significant loss of approximately HKD 17,659,000 (or about HKD 10,393,000 excluding impairment losses on manufacturing properties and equipment) for the fiscal year 2023[18]. - The gross profit margin for the leather retail business is projected to be 40% for fiscal years 2024 and 2025, based on a reference gross profit margin of 44% from fiscal year 2019[68]. - The company's gross profit margin for the fiscal year 2023 was 17.3%, a significant decrease from the adjusted gross profit margin of 26.9% in fiscal year 2022, primarily due to lower production volumes and extraordinary costs related to outdated inventory and supply chain disruptions caused by COVID-19[50]. - For the fiscal years ending December 31, 2024, and December 31, 2025, the company forecasts gross profit margins of 23.5% and 24.5%, respectively, due to streamlined production lines and better cost control[51]. - The company anticipates a rebound in leather retail business growth rates to 10% for the fiscal years 2024 and 2025 after a stagnation in fiscal year 2023[67]. Impairment and Losses - The impairment losses on retail use assets and manufacturing properties were confirmed due to the ongoing losses experienced by the group[20]. - The impairment loss for the fiscal year 2023 was confirmed due to significantly deteriorated performance in the manufacturing cash-generating unit[55]. - The retail workshop recognized an impairment loss of approximately HKD 896,000 due to ongoing losses in the fiscal years 2022 and 2023, primarily attributed to intense competition in the retail environment[19]. Business Strategy and Expansion - The company is actively expanding its e-commerce market and exploring potential sales channels, including collaborations with influencers for live streaming sales on platforms like Taobao[14]. - The management is implementing lean production principles to optimize production processes and reduce waste, aiming to improve efficiency and lower costs without compromising quality[13]. - The company aims to enhance its financial performance through various business strategies and plans[3]. - The company aims to expand its high-end brand offerings, targeting higher profit margins and a more affluent customer base[38]. - The company has developed plans to diversify into industrial hemp cultivation and hemp product manufacturing, although progress has been hindered by strict regulations and the COVID-19 pandemic[7]. - The company will continue to assess the business environment and seek new viable opportunities to diversify its existing business portfolio and revenue sources[16]. Market and Economic Factors - The global leather goods market is projected to grow at an annual growth rate of 6.2% to 9.5% from 2023 to 2030, with an average of 7.31%[50]. - The company believes that the industrial hemp sector holds significant potential for future growth despite current legal and trade challenges[41]. - The company is actively monitoring market recovery and reallocating marketing resources to faster-recovering markets starting in 2024[38]. Financial Metrics - The weighted average cost of capital (WACC) is 13.37%[26]. - The cost of equity is calculated at 14.76% based on the capital asset pricing model, with adjustments for company size and specific risks[29]. - The statutory corporate tax rate is 16.5%[26]. - The weighted average cost of capital is estimated at 12.84%, with a cost of equity at 14.21% and a cost of debt at 5.88%[60]. - The weighted average cost of capital (WACC) is calculated at 12.84%, with the cost of equity estimated at 14.21% using the Capital Asset Pricing Model[69][70]. Production and Cost Management - The management is focusing on optimizing energy consumption and streamlining production processes to achieve cost savings[13]. - The company expects a reduction in unit manufacturing costs due to improved production planning and cost control measures[51]. - The fair value less costs to sell for most properties, plants, and equipment is considered negligible, leading to recoverable amounts being based on their respective use values[50]. - The company has resumed experimental cultivation of industrial hemp "Cloud Hemp No. 8," with a cultivation period of approximately six to eight months[41]. - The company plans to develop new leather products that cater to niche markets with innovative designs and materials[39]. Corporate Governance - The company has not made any significant changes to parameter values and assumptions compared to the previous year, except for sales forecasts and growth rates[31]. - The company has maintained the content of its fiscal year 2023 performance announcement and annual report without changes[71]. - The board of directors includes executive directors Zhao Jingfei, Fan Xin, and Qin Bohan, along with independent non-executive directors Han Yu, Jia Lixin, and Rong Yi[72].

Financial Performance - For the year ended December 31, 2023, the company reported revenue of HKD 30,298,000, a decrease of 46.0% compared to HKD 56,042,000 for the year ended December 31, 2022[10]. - Gross profit for the same period was HKD 5,681,000, down from HKD 10,261,000, resulting in a gross margin of 18.8%, slightly up from 18.3% in the previous year[10]. - The company recorded a pre-tax loss of HKD 27,641,000, compared to a loss of HKD 18,936,000 in the prior year, indicating a worsening financial performance[10]. - The total loss for the year was HKD 27,909,000, which is an increase from the previous year's loss of HKD 18,936,000[10]. - Basic loss per share increased to HKD (7.2) from HKD (4.9), indicating a larger loss per share for investors[10]. - Other income decreased by 73.5% from approximately HKD 675,000 in 2022 to about HKD 179,000 in 2023, primarily due to the absence of rental concessions and a significant drop in foreign exchange gains[64]. - Other losses increased from approximately HKD 1,822,000 in 2022 to about HKD 8,162,000 in 2023, mainly due to impairment losses on right-of-use assets and property, plant, and equipment[64]. - Reported segment loss for 2023 was HKD (20,516) thousand, compared to HKD (11,046) thousand in 2022, indicating a significant increase in losses[77]. - Comprehensive loss before tax for 2023 was HKD (27,641) thousand, up from HKD (18,936) thousand in 2022, reflecting a worsening financial position[77]. - The company recorded a net loss attributable to shareholders of approximately HKD 27,909,000 for the year ended December 31, 2023, compared to a loss of HKD 18,936,000 for the year ended December 31, 2022[102]. Liquidity and Financial Ratios - The current ratio decreased to 0.20 from 0.31, and the quick ratio also fell to 0.13 from 0.21, reflecting a decline in liquidity[10]. - The total current assets decreased to approximately HKD 13,252,000 as of December 31, 2023, from HKD 17,831,000 as of December 31, 2022[113]. - The total assets decreased to HKD 14,033 thousand in 2023 from HKD 30,582 thousand in 2022, a decline of 54.1%[79]. - The company's asset-liability ratio as of December 31, 2023, was approximately 522.8%, compared to 250.5% as of December 31, 2022[136]. - The company reported a decrease in unallocated corporate expenses to HKD (7,127) thousand in 2023 from HKD (7,890) thousand in 2022, reflecting improved cost management[77]. Revenue Sources and Business Segments - The leather manufacturing and retail businesses contributed revenues of approximately HKD 29,547,000 and HKD 751,000, respectively, for the year ended December 31, 2023, down from HKD 54,542,000 and HKD 1,500,000 in the previous year[63]. - Revenue from belts accounted for 94.7% of total revenue in 2023, down from 96.0% in 2022, indicating a slight diversification in revenue sources[89]. - Revenue from the leather manufacturing business accounted for approximately 97.5% of total revenue for the year ended December 31, 2023, compared to 97.3% for the year ended December 31, 2022[103]. - Retail revenue from Hong Kong for the year ended December 31, 2023, was approximately HKD 751,000, a decrease of about 49.9% compared to HKD 1,500,000 for the year ended December 31, 2022[91]. Operational Strategies and Future Outlook - The company is focusing on improving its financial position and exploring new strategies for market expansion and product development[10]. - Future outlook includes potential new product launches and technology advancements to drive revenue growth[10]. - The company anticipates that future performance may be affected by global economic factors, including trade tensions and geopolitical conflicts[63]. - The company is focused on enhancing its operational efficiency and exploring new market opportunities to mitigate the impact of external challenges[63]. - The company expects an increase in customer orders for the year ending December 31, 2024, due to ongoing negotiations with new potential clients, primarily in the fashion industry across the US, Europe, and Asia[92]. Corporate Governance and Management - The company emphasizes good corporate governance as a key factor for success, aiming to enhance shareholder value and protect shareholder rights[182]. - The board of directors consists of three executive directors and three independent non-executive directors, with no significant relationships among them[184]. - The independent non-executive directors represent at least one-third of the board, complying with listing rules[194]. - The board regularly reviews the functions and responsibilities of its authorized personnel, requiring board approval for any significant transactions[196]. - The company has established a cost-effective approach by hiring independent external professionals to review its internal control systems annually instead of forming an internal audit department[183]. Share Capital and Dividends - The number of issued shares increased to 412,704,000 from 382,704,000, indicating potential dilution for existing shareholders[10]. - The company has completed a placement of 30,000,000 new shares, representing approximately 7.27% of the enlarged issued share capital, at a price of HKD 0.45 per share[118]. - The board does not recommend the distribution of any dividends for the year ended December 31, 2023, consistent with the previous year[122]. - The net proceeds from the placement, after deducting commissions and expenses, amounted to approximately HKD 13.0 million, slightly lower than the previously estimated HKD 13.2 million[141]. Asset Management and Impairments - The company reported a comprehensive impairment of property, plant, and equipment of HKD 8,162 thousand in 2023, compared to HKD 1,822 thousand in 2022, indicating increased asset write-downs[79]. - The company reported a non-cash impairment loss of approximately HKD 8,162,000 for property, plant, and equipment as of December 31, 2023, compared to HKD 1,822,000 in 2022, primarily due to past performance and challenging market conditions[116]. - The company recorded an asset deficit of approximately HKD 59,325,000 as of December 31, 2023, an increase from HKD 46,016,000 in 2022, primarily due to operating losses and impairment losses during the year[137].

Financial Performance - The company reported a loss attributable to owners of the company of HKD 27,909,000 for the year ended December 31, 2023, compared to a loss of HKD 18,936,000 in 2022, representing an increase in loss of approximately 47.5%[6]. - Revenue from external customers decreased to HKD 30,298,000 in 2023 from HKD 56,042,000 in 2022, reflecting a decline of about 46.0%[21]. - The manufacturing and distribution of leather products generated revenue of HKD 29,547,000 in 2023, down from HKD 54,542,000 in 2022, a decrease of approximately 45.1%[23]. - The retail segment for fashion, footwear, and leather accessories reported revenue of HKD 751,000 in 2023, compared to HKD 1,500,000 in 2022, indicating a decline of about 50.0%[23]. - The company incurred a significant loss of approximately HKD 27,909,000 for the year ending December 31, 2023, with current liabilities netting approximately HKD 53,131,000 and asset deficits of about HKD 59,325,000[35]. - The company reported a pre-tax loss of HKD 27,641,000 for the year, compared to a loss of HKD 18,936,000 in the previous year, reflecting an increase in losses of about 46%[45]. - The total assets of the company decreased to HKD 14,033,000 in 2023 from HKD 30,582,000 in 2022, representing a decline of approximately 54%[45]. - The company recorded a net loss attributable to shareholders of approximately HKD 27,909,000, compared to a loss of HKD 18,936,000 for the fiscal year ending December 31, 2022[149]. Customer Concentration - The company’s major customers are highly concentrated, with Customer A contributing HKD 16,618,000 in 2023, down from HKD 34,424,000 in 2022, a decrease of approximately 51.7%[22]. - The leather belt segment contributed HKD 27,968,000, accounting for 94.7% of the leather manufacturing revenue[124]. Asset and Liability Management - Non-current assets in Hong Kong decreased to HKD 1,014,000 in 2023 from HKD 7,950,000 in 2022, a decline of about 87.3%[21]. - The company has cash and cash equivalents of only about HKD 997,000 as of December 31, 2023, raising significant uncertainty regarding its ability to continue as a going concern[35]. - The total current liabilities as of December 31, 2023, were approximately HKD 66,383,000, an increase from approximately HKD 56,740,000 as of December 31, 2022[129]. - The current ratio decreased to approximately 0.20 times as of December 31, 2023, from approximately 0.31 times as of December 31, 2022[129]. - The company has a net liability of HKD 59,325,000, worsening from HKD 46,016,000 in the previous year[193]. Financing and Liquidity - The company has received a loan commitment from its executive director, ensuring liquidity support of HKD 8,000,000 until repayment is requested[11]. - The company has an external financing limit of up to HKD 40,000,000, with an interest rate of 20% per annum, which has not been utilized as of the announcement date[37]. - The company has a loan agreement with Mr. Qin for HKD 8,000,000, which is unsecured, interest-free, and has no fixed repayment term[78]. - The company has received financial support from Mr. Zhao, confirming that he will not demand repayment of approximately HKD 10,897,000 until the company is able to repay[93]. - The company completed a placement of new shares on November 6, 2023, raising approximately HKD 13,000,000[35]. Operational Efficiency - The company plans to continue seeking other financing sources and implement strict cost management measures to optimize operational efficiency[94]. - The company is actively taking measures to control operating costs and inventory levels to maintain healthier cash flow and liquidity[105]. - The company plans to focus on strict cost control measures and optimize operational and financial management to improve long-term profitability[155]. - The company is committed to strict cost management measures to optimize operational efficiency and minimize unnecessary cash outflows[198]. Impairment and Asset Valuation - The impairment loss on property, plant, and equipment amounted to HKD 2,964,000 for the year ended December 31, 2023, while the impairment loss on right-of-use assets was HKD 5,198,000, totaling HKD 8,162,000, compared to HKD 1,822,000 in 2022[53]. - The recoverable amount of the company's right-of-use assets was estimated to be zero, leading to no need for reversal of previous impairment losses[68]. - The group recorded significant impairment losses of approximately HKD 4,302,000 and HKD 896,000 for the leather manufacturing and retail businesses, respectively, for the year ended December 31, 2023[106]. Future Outlook - The group anticipates a recovery in business operations, aiming to expand its customer base and revenue sources beyond leather belts, with ongoing negotiations with several new potential clients, mainly in the US, Europe, and Asia[104]. - The group expects an increase in customer orders for the year ending December 31, 2024, compared to the year ending December 31, 2023, as negotiations with new clients progress successfully[104]. - The company has initiated a diversification plan into industrial hemp cultivation and hemp fabric production, having obtained relevant permits and leased land in Yunnan for trial cultivation[127]. Corporate Governance - The company has complied with the corporate governance code, except for a specific internal audit provision[173]. - The audit committee has reviewed and discussed financial reporting matters with management and external auditors for the year ended December 31, 2023[176]. - The board does not recommend the distribution of any dividends for the year ended December 31, 2023[140].

股份代號：0264 （於開曼群島註冊成立之有限公司 ） 2023 目錄 2 公司資料 4 財務摘要 5 中期簡明綜合損益及其他全面收益表 7 中期簡明綜合財務狀況表 9 中期簡明綜合權益變動表 10 中期簡明綜合現金流量表 11 中期簡明綜合財務報表附註 36 管理層討論及分析 中聯發展控股集團有限公司 公司資料 董事 執行董事 趙靖飛先生 （主席） 范欣先生 （行政總裁） 秦伯翰先生 獨立非執行董事 韓煜女士 賈麗欣女士 榮毅先生 公司秘書 陳增武先生 審核委員會 韓煜女士 （委員會主席） 賈麗欣女士 榮毅先生 提名委員會 趙靖飛先生 （委員會主席） 韓煜女士 賈麗欣女士 榮毅先生 薪酬委員會 榮毅先生 （委員會主席） 范欣先生 韓煜女士 賈麗欣女士 註冊辦事處 Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 總辦事處暨香港主要營業地點 香港 中環 皇后大道中39 號 26 樓 主要往來銀行 交通銀行股份有限公司香港分行 南洋商業銀行有限公司 中國銀行（香港）有限公司 核數師 天健德揚會計師事務 ...