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的內容概不負責，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。 LUEN THAI HOLDINGS LIMITED 聯 泰 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：311） 截至二零二三年六月三十日止六個月期間 中期業績公告 及 恢復買賣 本集團財務摘要 截至六月三十日止六個月期間 二零二三年 二零二二年 千美元 千美元 （未經審核） （未經審核） （經重列） 收入 340,222 462,813 經營利潤 6,060 12,603 歸屬於本公司所有者的利潤 284 6,969 ...

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的內容概不負責，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。 LUEN THAI HOLDINGS LIMITED 聯 泰 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：311） 截至二零二三年六月三十日止六個月期間 中期業績公告 及 恢復買賣 本集團財務摘要 截至六月三十日止六個月期間 二零二三年 二零二二年 千美元 千美元 （未經審核） （未經審核） （經重列） 收入 340,222 462,813 經營利潤 6,060 12,603 歸屬於本公司所有者的利潤 284 6,969 ...

Employee Engagement and Welfare - The company has approximately 36,000 employees globally and continues to promote open communication with employees through various channels[2]. - The company emphasizes providing a safe and pleasant working environment, fair compensation, and development opportunities for employees[4]. - The company has a strong focus on employee care initiatives to recognize and reward contributions within a robust corporate culture[4]. - The company prioritizes employee needs, providing attractive compensation packages and ensuring a comfortable work environment[157]. - The company emphasizes employee well-being and diversity, attracting top talent from around 20 different countries[200]. Financial Performance - The company reported a mid-term dividend of $0.220 per share, totaling approximately $2,275,000, and proposed a final dividend of $0.268 per share, totaling approximately $2,771,000, pending shareholder approval[22]. - The company's distributable reserves as of December 31, 2022, amounted to $73,693,000[24]. - The company's revenue increased by approximately $63.2 million or 7.9% from $795.7 million in 2021 to $858.9 million in 2022[30]. - Net profit attributable to the company's owners increased by approximately 17.4% to $13.1 million in 2022, compared to $11.2 million in 2021[30]. - Basic earnings per share improved to 1.3 cents in 2022 from 1.1 cents in 2021[28]. Production and Supply Chain Management - The company has diversified its production footprint across Southeast Asia, including Cambodia, Myanmar, and the Philippines, to mitigate supply chain disruptions, especially during the COVID-19 pandemic[19]. - The company aims to reduce risks associated with procurement concentration by streamlining and integrating production capabilities in Southeast Asia[19]. - The company has established manufacturing centers in multiple Southeast Asian countries as part of its long-term strategy[29]. - The company is focused on reshaping its supply chain to support both domestic and international operations, with plans to establish an innovation center in the United States[181]. Corporate Governance and Compliance - The board of directors has confirmed compliance with the corporate governance code as per the listing rules for the year ending December 31, 2022[105]. - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with the standards set forth in the listing rules[106]. - Independent non-executive directors have reviewed the ongoing connected transactions and confirmed they are conducted on normal commercial terms[82]. - The company has mechanisms in place for directors to consult external independent professionals when necessary[121]. Sustainability and Innovation - The company is committed to sustainability, managing natural and social impacts, and integrating sustainability into business decisions[155]. - The introduction of sustainable and digital solutions, including the Luentech Textile Solutions and NTX™ technology, aims to improve supply chain sustainability and reduce environmental impact[173]. - The company has implemented advanced technologies to reduce water, energy, and harmful chemical usage, significantly decreasing its carbon footprint and waste[198]. - The company is committed to supporting the UN Global Compact principles, focusing on human rights, labor, environment, and anti-corruption[193]. Market and Customer Relations - The company achieved a revenue increase of 7.9% and a net profit growth of 17.4% in 2022 compared to the previous year[153]. - The company has established strong relationships with existing brand clients, which are considered valuable assets for future growth[144]. - The company plans to enhance customer relationships and attract new clients to diversify its customer base and expand revenue sources[166]. - The average customer return rate on the e-commerce platform is between 20% to 30%, significantly higher than the average return rate of 7% for newly launched products[190]. Challenges and Future Outlook - The company continues to face challenges from COVID-19 and global inflation affecting economic recovery[29]. - The group anticipates a decline in overall demand for its quality products due to potential inventory surplus among customers[72]. - The company has experienced a decline in bargaining power in its OEM business over the past few years, necessitating a shift towards a new manufacturing model to add value for customers and stakeholders[184]. - The company expresses confidence in its long-term development despite the challenging macroeconomic environment and inflation[72].

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的內容概不負責，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。 LUEN THAI HOLDINGS LIMITED 聯 泰 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：311） 截至二零二二年十二月三十一日止年度 年終業績 本集團財務摘要 截至十二月三十一日止年度 二零二二年 二零二一年 千美元 千美元 收入 858,861 795,659 經營利潤 22,293 21,874 歸屬於本公司所有者的利潤 13,138 11,195 每股基本收益（美仙） 1.3 1.1 聯泰控股有限公司（「本公司」）董事局（「董事局」）欣然宣佈本公司及其附屬公司（統稱「本 集團」或「聯泰」）截至二零二二年十二月三十一日止年度的合併業績。 ...

Financial Performance - Total revenue for the six months ended June 30, 2022, was $462.81 million, an increase from $334.21 million in the same period of 2021, representing a growth of 38.4%[14] - Gross profit for the same period was $76.08 million, compared to $49.41 million in 2021, reflecting a gross margin improvement[14] - Operating profit increased to $13.23 million from $5.42 million year-on-year, indicating a significant operational efficiency gain[14] - Net profit for the period was $7.19 million, up from $0.95 million in the previous year, marking a substantial increase of 658.4%[14] - Total comprehensive income for the six months ended June 30, 2022, was $5,378,000, compared to $2,472,000 for the same period in 2021, representing a 117% increase[17] - Profit attributable to the owners of the company for the period was $7,598,000, up from $2,483,000 in the previous year, indicating a significant growth[18] - The group reported a total profit of $13.69 million for the six months ended June 30, 2022, compared to $5.91 million for the same period in 2021, marking an increase of approximately 131.5%[43] Assets and Liabilities - Total assets as of June 30, 2022, amounted to $636.54 million, compared to $561.99 million at the end of 2021, showing a growth of 13.2%[12] - Current assets increased to $426.08 million from $348.08 million, a rise of 22.4%[8] - Total liabilities rose to $431.10 million from $358.12 million, reflecting an increase of 20.3%[12] - The total equity attributable to the owners of the company as of June 30, 2022, was $203,890,000, an increase from $188,587,000 at the end of June 2021[18] - Trade payables increased to $111,054,000 as of June 30, 2022, compared to $81,134,000 as of December 31, 2021, representing a 37% increase[65] - Other payables totaled $201,496,000 as of June 30, 2022, up from $154,387,000 as of December 31, 2021, indicating a 30% rise[65] Cash Flow and Financing - The company reported a cash flow from operating activities of $(19,284,000) for the six months ended June 30, 2022, compared to $18,522,000 in the same period of 2021, reflecting a negative shift in cash flow[23] - The net cash generated from financing activities was $24,190,000, a significant improvement from $(7,592,000) in the previous year, indicating better financing conditions[23] - The company’s bank borrowings increased by approximately 18.6% to $177.62 million as of June 30, 2022, compared to $149.77 million at the end of 2021[109] Operational Efficiency and Cost Management - The company continues to focus on improving operational efficiencies and managing costs effectively to enhance profitability[14] - The operating profit for the six months ended June 30, 2022, was impacted by a provision for slow-moving inventory of $1,685,000, compared to a reversal of $(468,000) in the previous year[69] - The group’s operating expenses for the six months ended June 30, 2022, were $6.50 million, compared to $4.96 million for the same period in 2021, reflecting an increase of approximately 30.7%[43] Market and Product Development - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[14] - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the provided documents[56] Dividend and Shareholder Information - The company declared a final dividend of $3,361,000 during the period, impacting the retained earnings[18] - Basic earnings per share for the six months ended June 30, 2022, was $0.73, up from $0.09 in the same period of 2021[81] - The interim dividend declared for the six months ended June 30, 2022, was $0.220 per share, compared to no dividend in the same period of 2021[86] - Major shareholder Shanghai Textile (Hong Kong) Limited holds 730,461,936 shares, representing approximately 70.64% of the company's equity[128] Risks and Challenges - The company anticipates challenges in the second half of 2022 due to potential decreases in sales and ongoing uncertainties in the market[112] - The International Monetary Fund has adjusted global growth forecasts for 2022 and 2023 to 3.2% and 2.9%, respectively, indicating a pessimistic outlook[111] - The company has implemented prudent policies to hedge against foreign exchange risks, with most operations denominated in USD, EUR, HKD, and other currencies[110] Corporate Governance - The company has established several committees, including an Audit Committee and a Remuneration Committee, to enhance corporate governance and shareholder value[134][135] - The Audit Committee reviewed the interim financial information for the six months ended June 30, 2022, ensuring compliance with accounting principles[136] - The company confirmed compliance with the corporate governance code as per the listing rules during the six-month period ending June 30, 2022[134]

Financial Performance - Revenue for the year 2021 increased by approximately 14.1% to $795.659 million, compared to $697.329 million in 2020[13] - Gross profit rose by about 48.8% to $123.644 million, up from $83.098 million in the previous year[13] - The company recorded a profit attributable to owners of approximately $11.195 million, reversing from a loss of $28.028 million in 2020[13] - The gross margin improved to 15.5% in 2021, compared to 11.9% in 2020[11] - The operating profit for 2021 was $21.874 million, a significant recovery from an operating loss of $21.436 million in 2020[11] - The apparel segment generated revenue of approximately $475,623,000, an increase of about $67,724,000 or 16.6% year-on-year[76] - The accessories segment's revenue increased by approximately $30,606,000 or 10.6% to about $320,036,000[79] - The apparel segment turned a profit of approximately $9,481,000, compared to a loss of about $1,316,000 in the previous year[78] - The accessories segment recorded a profit of approximately $13,951,000, recovering from a loss of about $6,274,000 in the previous year[79] - The company's cash and bank deposits totaled approximately $99,149,000 as of December 31, 2021, an increase of about $32,951,000 compared to December 31, 2020[108] - The total bank borrowings of the company were approximately $149,769,000 as of December 31, 2021, a decrease of about $10,821,000 from the previous year[108] - The company's capital debt ratio was 25.1% as of December 31, 2021, calculated as net debt (bank borrowings minus cash and bank balances) divided by shareholders' equity[108] Operational Efficiency and Strategy - The company aims to streamline manufacturing processes through vertical integration, enhancing customer loyalty and profitability[16] - The company is focusing on integrating Cooltrans® and e-Nanofiber™ technologies into its production and product development processes to enhance sustainability and reduce carbon footprint[17] - The company is implementing a new manufacturing model focused on sustainable development and long-term growth, aiming to provide breakthrough technological solutions[42] - The company is enhancing workplace flexibility and digital solutions to attract and retain talent in response to changing employee priorities[40] - The company aims to improve operational efficiency through a decentralized management structure, integrating management teams with business units[40] - The company has integrated AI technology across the entire supply chain, enhancing inventory efficiency and turnover rates[44] - The implementation of automated systems has improved production delivery times and inventory turnover rates[44] - The company is actively pursuing nearshore and onshore outsourcing strategies to enhance production efficiency and reduce geopolitical risks[48] Employee and Community Engagement - The company has achieved a vaccination rate of approximately 96% among its employees as of early March 2022, which has helped mitigate production risks[14] - The company emphasizes the importance of employee training and development to meet customer needs and achieve corporate goals[20] - The company has maintained a stable operational environment without significant labor disputes or strikes during the year[21] - The company is actively participating in charitable contributions and environmental initiatives, reinforcing its commitment to corporate social responsibility[21] - In December 2021, the company raised $300,000 in less than two days to support employees affected by Typhoon Rai in the Philippines[34] - The company plans to launch a series of activities to raise environmental awareness among employees, including initiatives to reduce food waste and promote energy conservation[67] - The company has established a positive work environment promoting diversity and inclusion, with a gender ratio of 58:42 at the board level[62] Corporate Governance and Compliance - The company is committed to corporate governance and has established various committees to ensure the interests of shareholders are protected[22] - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with the standards set by the Hong Kong Stock Exchange[121] - The management team has extensive experience in mergers and acquisitions, particularly in overseas projects, which supports the company's growth strategy[124] - The company is committed to maintaining high standards of governance and compliance, as evidenced by the adherence to the established code of conduct[121] - The independent non-executive directors have confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms[193] - The auditor issued an unqualified opinion regarding the group's related party transactions as disclosed in the annual report[193] Sustainability and Innovation - The company is committed to reducing its carbon footprint across the value chain and has implemented various environmental initiatives[66] - The NTX™ waterless dyeing technology significantly reduces water, energy, and chemical consumption, contributing to a lower carbon footprint[45] - The company aims to expand its product offerings and enhance the use of innovative waterless dyeing and printing technologies, while increasing the use of sustainable materials and solar facilities[67] - The company has received multiple awards for sustainability, including recognition as the most valuable partner in Cambodia and a digital award for its efforts[68] - The company is exploring opportunities in emerging technologies such as the metaverse and NFTs to enhance business performance and adapt supply chain and manufacturing models[38] - The company is exploring the potential of the metaverse and NFT trends to create innovative products inspired by digital services[54] Market and Future Outlook - The company achieved significant financial performance during the unprecedented challenges of the COVID-19 pandemic, with both the apparel and accessories segments recording profit growth compared to the previous year[26] - The management believes that challenges can lead to growth and maturity, and the company aims to turn crises into opportunities[19] - The company is optimistic about the future, particularly with the increasing vaccination rates among employees, which are seen as crucial for market recovery[29] - The company plans to focus on collaboration with NTX™ to integrate Cooltrans® and e-Nanofiber™ technologies into its production and product development processes[99] - The company will continue to monitor market conditions and the development of the COVID-19 pandemic, adjusting business strategies as necessary[103] - The management's focus on market expansion and operational upgrades is expected to drive future growth and profitability[125]

Financial Performance - Revenue for the six months ended June 30, 2021, was $334,206 thousand, a slight increase from $331,687 thousand in the same period of 2020, representing a growth of 0.5%[10] - Gross profit for the same period was $49,411 thousand, compared to $37,474 thousand in 2020, indicating a significant increase of 32%[10] - Operating profit improved to $5,423 thousand from a loss of $15,105 thousand in the previous year, marking a turnaround in performance[10] - The company reported a net profit of $947 thousand for the period, a significant recovery from a loss of $19,065 thousand in the same period last year[10] - The total comprehensive income for the six months ended June 30, 2021, was $2,472 thousand, compared to a loss of $(18,971) thousand for the same period in 2020[14] - The profit attributable to the owners of the company for the six months ended June 30, 2021, was $2,483 thousand, a significant improvement from a loss of $(18,593) thousand in the prior year[14] - Basic and diluted earnings per share for the period were $0.09, compared to a loss of $1.81 per share in the previous year[9] Assets and Liabilities - The total assets as of June 30, 2021, were $566,198 thousand, up from $538,616 thousand at the end of 2020, reflecting a growth of 5.2%[8] - Current assets increased to $343,189 thousand from $315,193 thousand, showing a rise of 8.9%[8] - Total liabilities increased to $375,132 thousand from $350,022 thousand, representing a growth of 7.2%[8] - The total equity attributable to the owners of the company as of June 30, 2021, was $188,587 thousand, an increase from $200,100 thousand at the end of the previous year[15] - The company’s total assets as of June 30, 2021, were $178,680 thousand, a decrease from $183,315 thousand as of January 1, 2021[38] Cash Flow and Investments - The net cash inflow from operating activities for the six months ended June 30, 2021, was $19,455 thousand, down from $23,754 thousand in the same period of 2020[17] - The company had a net cash outflow from investing activities of $(4,068) thousand for the six months ended June 30, 2021, compared to $(18,136) thousand in the same period of 2020[17] - The cash and bank balances at the end of the period were $72,857 thousand, compared to $69,474 thousand at the end of the previous year[17] Inventory and Receivables - Inventory levels rose significantly to $102,423 thousand from $71,456 thousand, an increase of 43.3%[7] - Trade receivables as of June 30, 2021, were $68,354 thousand, down from $97,125 thousand as of December 31, 2020, indicating a decrease of about 29.8%[42] - The company recorded a total of $106,966 thousand in inventory as of June 30, 2021, which includes raw materials, work in progress, and finished goods[41] Revenue Segmentation - The revenue from garment sales was $330,886 thousand, compared to $325,980 thousand in the previous year, indicating a growth in this segment[37] - The apparel and accessories business accounted for approximately 60.7% and 39.3% of total revenue during the review period, respectively[83] - The apparel segment's revenue increased by approximately $15,045,000 or 8.0% to about $202,745,000 for the six months ended June 30, 2021, compared to $187,700,000 for the same period in 2020[84] - The accessories segment's revenue decreased by approximately 8.7% to about $131,461,000 for the six months ended June 30, 2021, while achieving a profit of approximately $2,612,000, compared to a loss of about $5,100,000 in the same period last year[85] Corporate Governance - The company maintained compliance with the corporate governance code as per the listing rules during the six months ended June 30, 2021[108] - The Audit Committee was established to provide recommendations to the board, consisting of independent non-executive directors[108] - The Remuneration Committee was formed to advise on the remuneration policies for all directors and senior management[108] - The company established a Nomination Committee responsible for recommending the appointment or reappointment of directors, chaired by Mr. Qu Zhiming[109] - The Financing and Banking Committee was formed to review and approve the group's bank financing, ensuring alignment with the overall best business interests[109] Risk Management and Outlook - The financial risk management policies have not changed since the year-end, maintaining consistency in managing market, credit, and liquidity risks[26][31] - The management anticipates a cautious outlook for the second half of 2021, with potential risks including the spread of the COVID-19 Delta variant and rising raw material prices[90] - The company continues to focus on its core business of garment and apparel manufacturing and trading, with strategic decisions made by the executive directors[32] Employee and Health Measures - Over 60% of the group's employees had received at least one dose of the COVID-19 vaccine as of August 18, 2021, with a target of achieving a 75% vaccination rate by the end of 2021[91]

Financial Performance - The company's revenue decreased by approximately 28.1% to about $697.3 million in 2020, compared to $969.8 million in 2019[8]. - Gross profit fell by approximately 41.6% to about $83.1 million, resulting in a gross margin of 11.9%, down from 14.7% in the previous year[8][13]. - The net loss attributable to equity holders was approximately $28.0 million, compared to a profit of $25.2 million in 2019[8][13]. - The basic loss per share was reported at 2.7 cents, compared to earnings of 2.4 cents per share in the previous year[8]. - The company recorded an operating loss of approximately $21 million for 2020, which narrowed to about $13 million after excluding one-time costs related to factory closures[29]. - The company reported a net loss attributable to equity holders of approximately $28,028,000 for the year ended December 31, 2020, compared to a net profit of approximately $25,165,000 in the previous year, reflecting a significant decline in financial performance[60]. - Revenue from the apparel segment decreased by approximately $105,257,000 or 20.5% to about $407,899,000 for the year ended December 31, 2020, primarily due to a drop in average selling prices and sales volume across most brand customers[63]. - The accessories segment generated sales revenue of approximately $289,430,000, a significant decrease of about 36.6% compared to the previous year, resulting in a segment loss of $6,274,000[66]. Operational Strategies - The company plans to reduce production costs while enhancing operational efficiency in response to ongoing market challenges[16]. - The company aims to manage and optimize resources to seize every opportunity for future growth amidst the uncertainties posed by the COVID-19 pandemic[16]. - The company is focused on creating a sustainable supply chain by integrating AI solutions to enhance inventory efficiency and responsiveness to market demands[32][37]. - The company is implementing innovative technologies such as waterless dyeing and AI-integrated supply chains to improve efficiency and reduce environmental impact, including a significant reduction in water and energy consumption[32][36]. - The company aims to leverage the growth opportunities in the Chinese retail market by establishing a strategy focused on "China and beyond," enhancing its leadership position in the apparel and accessories manufacturing industry[31]. - The company will continue to invest in automation and adjust production processes to enhance production efficiency and maintain competitiveness and profitability[87]. - The company has established a representative office in Cambodia and strengthened its development team to provide better services to customers[40]. COVID-19 Response - The company recorded a total of 543 confirmed COVID-19 cases in 2020, with only 4 cases reported in January 2021, indicating effective measures taken to control the virus spread[26]. - Approximately 98% of the COVID-19 cases were among employees in the Philippines and Myanmar, highlighting the geographical impact of the pandemic on the workforce[26]. - The company experienced a 19% reduction in global employee numbers since January 2020, reflecting the challenges faced during the pandemic[28]. - The management team and non-frontline workers voluntarily reduced their monthly salaries by 3% to 50% or took unpaid leave as part of the crisis response strategy[27]. - The company implemented new policies to ensure employee health and safety, including social distancing, mask provision, and regular COVID-19 testing[26]. - The company has established strong relationships with business partners and customers, which provided robust support in risk management during the pandemic[25]. Corporate Social Responsibility - The company actively participated in charitable contributions and environmental initiatives, reinforcing its commitment to corporate social responsibility[18]. - The company has joined the United Nations Global Compact, committing to support principles related to human rights, labor, environment, and anti-corruption[45]. - The company emphasizes corporate social responsibility and employee welfare, as demonstrated by awards received by its executives[112]. Governance and Management - The board comprises members with diverse expertise, ensuring comprehensive oversight and strategic direction for the company's growth[113]. - The company has adopted a code of conduct for securities transactions by directors, ensuring compliance with the standards set forth in the listing rules[191]. - The board is responsible for maintaining effective internal control systems to protect the group's assets and shareholders' interests[196]. - The company has complied with all applicable provisions of the corporate governance code during the year ended December 31, 2020[194]. - Independent non-executive directors play a crucial role in providing independent judgment and handling potential conflicts of interest[200]. Market and Competitive Landscape - The apparel and accessories manufacturing industry is becoming increasingly concentrated, leading to intensified competition[128]. - The company maintains strong relationships with customers by providing competitive pricing, excellent quality, and accurate delivery, aiming to enhance customer satisfaction[132]. - The company is closely monitoring the political situation in Myanmar, which may adversely affect its production operations and financial performance due to instability[130]. Financial Position - The total assets of the company were valued at $538.6 million, a decrease from $563.1 million in 2019[8]. - The total cash and bank deposits of the group as of December 31, 2020, were approximately $66,213,000, a decrease of about $16,760,000 from the previous year[101]. - The total bank borrowings of the group as of December 31, 2020, were approximately $160,590,000, a decrease of about $6,537,000 from 2019[101]. - The capital debt ratio of the group as of December 31, 2020, was approximately 50.7%[101]. - The group confirmed a reimbursement guarantee asset of $11,461,000 related to the acquisition of Sachio Investments Limited, with no prior amount in 2019[91]. Future Outlook - Despite the challenges posed by the pandemic, the company is optimistic about the long-term prospects of its business and will adopt a cautious approach to monitor working capital and industry developments[84]. - The company will continue to seek value-added investment opportunities to diversify its product range and strengthen production capacity[81]. - The company is focused on transforming and upgrading its foreign trade business and expanding overseas operations under the leadership of experienced executives[109][110][111].

Financial Performance - Total revenue for the six months ended June 30, 2020, was $331.687 million, a decrease from $461.763 million in the same period of 2019, representing a decline of approximately 28.2%[11] - The company reported a net loss of $19.065 million for the six months ended June 30, 2020, compared to a profit of $6.572 million in the same period of 2019[11] - Basic and diluted loss per share was $(1.81) for the six months ended June 30, 2020, compared to earnings of $0.64 per share in the same period of 2019[10] - For the six months ended June 30, 2020, the total comprehensive loss attributable to the owners of the company was $18,593,000, compared to a profit of $6,249,000 for the same period in 2019, representing a significant decline[14] - The loss for the period was $19.065 million, compared to a profit of $6.572 million in the same period of 2019, indicating a significant shift in financial performance[36] - The net loss attributable to the owners of the company was approximately $18,687,000, compared to a profit of about $6,572,000 in the same period last year[102] Assets and Liabilities - Non-current assets totaled $229.534 million as of June 30, 2020, compared to $217.179 million as of December 31, 2019, indicating an increase of approximately 5.5%[7] - Current assets decreased to $299.519 million as of June 30, 2020, from $345.950 million as of December 31, 2019, a decline of about 13.4%[7] - Total liabilities decreased to $326.428 million as of June 30, 2020, from $344.436 million as of December 31, 2019, reflecting a reduction of approximately 5.2%[9] - The company’s equity attributable to owners decreased to $200.100 million as of June 30, 2020, from $218.693 million as of December 31, 2019, a decline of approximately 8.5%[8] - The total equity as of June 30, 2020, was $200,100,000, down from $218,693,000 at the beginning of the year, reflecting a decrease of approximately 8.5%[15] - The total net assets amounted to $121,848 million, a decrease from $168,198 million as of June 30, 2019[42][44] Cash Flow and Investments - The net cash flow from operating activities for the six months ended June 30, 2020, was $23,754,000, a recovery from a negative cash flow of $17,815,000 in the same period of 2019[17] - The company reported a net cash outflow from investing activities of $18,136,000 for the six months ended June 30, 2020, compared to $12,799,000 in the prior year, indicating increased investment expenditures[17] - The financing activities resulted in a net cash outflow of $18,872,000 for the six months ended June 30, 2020, contrasting with a net inflow of $6,003,000 in the same period of 2019[17] - The cash and bank balances were $69.474 million as of June 30, 2020, down from $82.959 million as of December 31, 2019, a decrease of about 16.3%[7] - The cash and bank deposits amounted to approximately $69,488,000, a decrease of about $13,485,000 from December 31, 2019[108] Inventory and Receivables - The company’s inventory increased to $100.484 million as of June 30, 2020, from $99.975 million as of December 31, 2019, indicating a marginal increase of about 0.5%[7] - Trade receivables as of June 30, 2020, were $84,208 million, down from $128,651 million as of December 31, 2019[48] - The company reported a net loss provision of $3,047 million for trade receivables as of June 30, 2020, compared to $398 million as of December 31, 2019[48] - The operating loss for the six months ended June 30, 2020, included a provision for impairment of receivables of $2,649 thousand, compared to $164 thousand in 2019[61] Revenue Breakdown - Revenue from garment sales was $187.700 million, while accessories contributed $143.987 million, showing a decrease in both categories compared to the previous year[31] - The apparel segment generated sales revenue of approximately $187,700,000, a decrease of about 21.2% compared to the same period last year[105] - The accessories segment's revenue decreased by approximately $79,702,000 or 35.6% to about $143,987,000, resulting in a segment loss of $5,100,000[106] - Revenue from sales of garments, textiles, and accessories to related companies was $14,812,000 for the six months ended June 30, 2020, up from $9,572,000 in 2019, representing a 55.5% increase[79] Corporate Governance and Compliance - The company has established various committees, including an Audit Committee and a Remuneration Committee, to enhance corporate governance[132][133] - The Audit Committee has reviewed the interim financial information for the six months ending June 30, 2020[135] - The company confirms compliance with the corporate governance code as per the listing rules during the reporting period[132] - The company has adopted a set of conduct rules for directors' securities transactions, ensuring adherence to standards[136] - The company emphasizes the importance of corporate governance in creating shareholder value[132] Future Plans and Strategies - The group plans to expand its production of personal protective equipment in Southeast Asia to meet increasing demand[111] - The company is collaborating with a leading fabric printing technology supplier to provide eco-friendly fabrics to customers in Cambodia and Vietnam[112] - The company continues to seek value-accretive acquisitions and joint ventures to expand product offerings and enhance capacity[113] - The company will announce any investment and acquisition opportunities in accordance with listing rules at the appropriate time[114] Dividends and Shareholder Information - No interim dividend was declared for the six months ended June 30, 2020, compared to an interim dividend of $0.190 per share in 2019, resulting in a total of $1,965,000 in dividends for 2019[76] - The company did not declare any final dividend for the year ended December 31, 2019, compared to $4,281,000 declared in 2018[76] - The total number of issued shares as of June 30, 2020, was 1,034,112,666[123] - Shanghai Textile (Hong Kong) Limited holds 730,461,936 shares, representing approximately 70.64% of the company's equity[129] - Dr. Henry Chan and Ms. Zhao Manju each control 89,179,725 shares, accounting for 8.62% of the company's equity[129] - Double Joy Investment Limited holds 71,975,726 shares, representing 6.96% of the company's equity[129]

Financial Performance - The company reported a revenue of approximately $969.79 million for the year ended December 31, 2019, representing a growth of about 14.0% compared to $851.00 million in 2018[14]. - Profit attributable to the owners of the company increased from approximately $23.30 million in 2018 to approximately $25.17 million in 2019, marking an annual increase of about 8.0%[14]. - The operating profit for 2019 was $34.98 million, down from $40.00 million in 2018[12]. - The company’s gross profit for 2019 was $142.17 million, compared to $127.43 million in the previous year[12]. - The company achieved significant growth in 2019 despite challenges such as US-China trade tensions and Brexit, meeting all financial targets and expectations[25]. - The company's revenue for the year ended December 31, 2019, was approximately $969.79 million, an increase of about 14.0% primarily due to the acquisition of Universal Group's bag and small leather goods manufacturing business[38]. - Gross profit rose to approximately $142.17 million, reflecting an increase of about 11.6%, although the gross margin slightly decreased from 15.0% to 14.7%[38]. - Net profit increased from approximately $23.30 million to about $25.17 million, representing an annual increase of approximately 8.0%, but decreased by about 49.5% to approximately $11.76 million when excluding non-recurring gains from the sale of a subsidiary[39]. - The apparel segment generated revenue of approximately $513.16 million, a slight decrease of about $17.80 million or 3.4% compared to the previous year, mainly due to the impact of the US-China trade war[42]. Strategic Initiatives - The company has established a strategic joint venture with independent Indian parties to optimize its production footprint and enhance capital and cost efficiency[17]. - A subsidiary of the company entered into an agreement to acquire a target company in Myanmar to increase production capacity without the need for new facilities[16]. - The company sold land and buildings in Dongguan, Guangdong Province, China, to improve its financial position and focus resources on developing new capacities in different regions[17]. - The company is focusing on optimizing its apparel accessories business to maximize growth and expand its sportswear segment[27]. - The company plans to enhance its product mix and leverage revolutionary technologies to improve productivity and profitability[25]. - The company aims to increase its market share in the Chinese retail market as part of its strategic focus[27]. - The company aims to expand its sportswear business in Cambodia, China, and the Philippines, capitalizing on the growing sportswear market[32]. - The company plans to leverage partnerships with global brands to expand its domestic production footprint and enhance its market share in the competitive Chinese retail market[33]. Sustainability and Corporate Responsibility - The company is focusing on sustainable practices, integrating sustainability into its core business to maintain competitiveness and industry leadership[31]. - The company is committed to providing eco-friendly materials to customers in Cambodia and Vietnam, with plans to expand partnerships to other regions[25]. - The company has implemented various environmental protection policies to minimize the impact of manufacturing activities on the environment[95]. - The group is committed to understanding the needs and concerns of stakeholders while pursuing sustainable business strategies[70]. - The group made charitable donations totaling approximately $310,000 during the year[111]. Employee Development and Corporate Culture - The company emphasizes employee training and development to meet customer needs and achieve its growth objectives[19]. - The company is committed to enhancing employee satisfaction and workplace equality, investing in various programs to improve employee well-being and skills development[30]. - The group employed over 52,000 employees globally as of December 31, 2019, and continued to promote open communication with them[70]. Governance and Compliance - The company has established a clear governance structure with established committees, including the audit, remuneration, and nomination committees, to oversee various aspects of corporate governance[183]. - The board of directors consists of five executive directors, one non-executive director, and three independent non-executive directors, with independent non-executive directors accounting for one-third of the board, complying with listing rules[174]. - The company adheres to all applicable code provisions of the Corporate Governance Code during the year ended December 31, 2019[164]. - The company emphasizes the importance of independent non-executive directors in providing independent judgment and monitoring group performance[177]. - The company has established policies and procedures to handle potential conflicts of interest among major shareholders or directors[168]. Financial Position and Debt Management - As of December 31, 2019, the group's cash and bank deposits totaled approximately $82,973,000, a decrease of about $651,000 compared to December 31, 2018[65]. - The total bank borrowings of the group as of December 31, 2019, amounted to approximately $167,127,000, an increase of about $19,784,000 compared to December 31, 2018[65]. - The capital debt ratio of the group as of December 31, 2019, was approximately 38.5%[65]. - Approximately $131,927,000 of the bank borrowings is due within one year, with $14,600,000 due in the second year, and $20,600,000 due in the third to fifth years[65]. Market Dynamics and Challenges - Future outlook indicates challenges due to geopolitical tensions and the impact of COVID-19 on global economic stability, which may affect consumer demand and spending[61]. - The group faced challenges due to a sluggish global economic environment, which may negatively impact customer demand for its products[97]. - The competitive landscape in the apparel and accessories manufacturing industry is intensifying, necessitating timely responses to competitors[98]. Related Party Transactions - The approximate total value of related party transactions for the year ended December 31, 2019, includes technical support services valued at $1,920,000 and logistics services valued at $748,000[136]. - The independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms[150]. - All related party transactions are considered to be on normal commercial terms and in the overall interest of the company and its shareholders[141].