Financial Performance - Revenue for the year ended December 31, 2024, decreased to approximately $674.39 million from $696.63 million in 2023, a decline of about $22.25 million or 3.2%[9] - Gross profit for the year was approximately $74.24 million, down by about $21.03 million or 22.1% compared to $95.27 million in 2023[12] - The company recorded a net loss attributable to owners of approximately $33.89 million, compared to a loss of $6.01 million in the previous year[12] - Basic loss per share for 2024 was $(3.3) cents, compared to $(0.6) cents in 2023[9] - In fiscal year 2024, the company's revenue was $674.4 million, with a loss of approximately $33.9 million, primarily due to non-recurring expenses totaling about $33.2 million[35] - Excluding non-recurring factors, the loss attributable to the company's owners would be reduced to no more than $0.7 million[35] - The apparel segment's revenue decreased by approximately $55,689,000 to $399,375,000, a decline of about 12.2% due to reduced customer orders[76] - The accessories segment's revenue increased to approximately $275,011,000, up about $33,441,000 or 13.8% from the previous year[77] Operational Efficiency and Strategy - The company aims to enhance production and operational efficiency and improve profitability through the adoption of automation technologies[15] - The company is exploring printing and dyeing technologies to improve product quality and customer satisfaction[15] - The company plans to diversify its production bases in Southeast Asia to mitigate risks associated with concentrated procurement locations[17] - The company implemented a series of internal restructuring and consolidation measures in 2024 to address challenges and maintain long-term health and profitability[35] - Significant one-off losses were incurred due to severance payments, legal fees, factory closures, divestitures, and prudent provisions for inventory impairment and taxes[37] - The company plans to focus on core businesses and strategies following the discontinuation of unprofitable initiatives[34] - The company aims to improve factory efficiency by 20% to 30%, with a target of achieving over 90% efficiency across all facilities[50] - The company is committed to improving cash management and refinancing existing loans to reduce interest expenses in a high-interest environment[50] Market and Economic Outlook - The global economic growth rate is expected to stabilize at 2.7% in 2025, maintaining the same level as in 2024, amidst ongoing geopolitical tensions[14] - The company anticipates a global economic growth rate of 2.7% in 2025, which is below pre-pandemic levels[82] - The company is optimistic about its performance outlook for 2025, expecting improvements from the groundwork laid in 2024[44] Corporate Governance and Management - The company emphasizes corporate governance as a key element in creating shareholder value and has established various committees to ensure transparency and effective communication[25] - The company is committed to attracting and retaining qualified management and operational staff to execute growth strategies effectively[22] - The company has maintained satisfactory employee relations, with no significant strikes or labor disputes impacting operations during the year[22] - The board includes independent directors with over 30 years of experience in finance and investment banking, ensuring robust governance[114][115] - The company has established mechanisms for independent directors to present their views and suggestions, reviewed annually by the nomination and remuneration committees[190] - The company has strict selection criteria and procedures for the nomination and appointment of directors, ensuring transparency and accountability[192] Sustainability and Social Responsibility - The company is focusing on sustainable practices and has established a strategic partnership to create a dyeing production center equipped with advanced technology, aiming to lead the industry towards a green economy[48] - The company recognizes the growing demand for sustainability and on-demand fashion, and is adapting its capabilities to deliver sustainable products in smaller quantities[58] - The company is actively seeking opportunities to implement practical actions across the value chain to create positive changes for employees, communities, and the environment[62] - Charitable and other donations made by the group during the year totaled approximately $267,000[133] Employee Engagement and Development - The company is focused on employee engagement and human resource strategies to support overall business plans and strategic directions[113] - The management team emphasizes the importance of succession planning and talent management for long-term sustainability[113] - The company employs approximately 27,000 employees globally and continues to promote open communication with staff through various channels[102] Related Party Transactions - The estimated total value of related party transactions for the year ending December 31, 2024, is $1,920,000 for technical support services provided by IST BVI[154] - The company expects to continue related party transactions with LTG and IST BVI due to the benefits derived from these longstanding relationships[156] - The logistics master agreement with CTSI will incur maximum costs of $1,600,000, $1,700,000, and $1,800,000 for the years ending December 31, 2023, 2024, and 2025 respectively[158] Audit and Compliance - The audit committee held four meetings in the fiscal year 2024, with all members attending all sessions[198] - The total fees paid to the external auditor, PwC, for audit services amounted to approximately $600,000, while non-audit services fees were around $200,000[199] - The audit committee's responsibilities include reviewing the financial reporting system and internal control procedures[200] - The company plans to propose the reappointment of PwC as the external auditor for the fiscal year 2025 at the upcoming annual general meeting[198]

Financial Performance - Revenue for the year ended December 31, 2024, was $674,386 thousand, a decrease of 3.6% from $696,634 thousand in 2023[3] - The operating loss for 2024 was $(14,184) thousand compared to an operating profit of $6,332 thousand in 2023[4] - Loss attributable to owners of the company was $(33,891) thousand, significantly higher than $(6,008) thousand in the previous year, representing a 463.5% increase in loss[4] - Basic loss per share for 2024 was $(3.3), compared to $(0.6) in 2023, indicating a substantial decline in profitability[4] - Total comprehensive loss for the year was $(33,073) thousand, compared to $(7,715) thousand in 2023, reflecting a worsening financial position[5] - The company reported a total segment loss of $20,381,000 for 2024, compared to a profit of $4,923,000 in 2023[17] - Gross profit fell significantly from $95,271,000 to $74,238,000 due to internal restructuring and integration measures[40] - The company recorded a net loss attributable to equity holders of approximately $33,891,000, compared to a net loss of about $6,008,000 in the previous year[41] Revenue Breakdown - Revenue from the apparel segment was $399,375,000, down 11.5% from $455,064,000 in the previous year[15][16] - The accessories segment generated revenue of $275,011,000, an increase of 14% from $241,570,000 in 2023[15][16] - Revenue from the United States was $284,125,000, a decrease of 11.2% from $319,781,000 in 2023[19] - Revenue from China (including Hong Kong and Macau) was $135,870,000, down 7.7% from $147,300,000 in the previous year[19] - Revenue from the U.S., Europe, and Asia accounted for 42.1%, 17.6%, and 23.2% of total revenue, respectively[45] Assets and Liabilities - Non-current assets decreased to $165,811 thousand in 2024 from $188,425 thousand in 2023, a decline of 12.0%[6] - Current assets slightly decreased to $280,172 thousand in 2024 from $286,572 thousand in 2023, a reduction of 2.2%[6] - Total liabilities increased to $289,281 thousand in 2024 from $283,311 thousand in 2023, an increase of 2.4%[7] - Non-current assets in China (including Hong Kong and Macau) decreased from $71,479 thousand in 2023 to $61,292 thousand in 2024, a decline of approximately 14.5%[21] - The group's total non-current assets decreased from $182,825 thousand in 2023 to $160,306 thousand in 2024, representing a reduction of about 12.3%[21] Financial Expenses - The company reported a net financial expense of $(13,119) thousand in 2024, compared to $(12,432) thousand in 2023, indicating increased financial costs[4] - The company incurred total financial expenses of $13,778,000 in 2024, compared to $13,940,000 in 2023[17] - Financial expenses net increased from $12,432 thousand in 2023 to $13,119 thousand in 2024, reflecting an increase of about 5.5%[22] - Current tax expenses rose from $4,066 thousand in 2023 to $6,787 thousand in 2024, an increase of approximately 67.0%[25] - The provision for tax liabilities increased significantly from $811 thousand in 2023 to $5,811 thousand in 2024, a rise of about 617.5%[26] - The interest expense on bank borrowings decreased slightly from $12,281 thousand in 2023 to $12,160 thousand in 2024, a decrease of about 1.0%[22] Operational Insights - The company operates manufacturing facilities in China, Cambodia, the Philippines, India, and Myanmar, focusing on garment and apparel accessories manufacturing and trading[8] - The group continues to implement strict cost control measures, including reducing production, distribution, and administrative costs[50] - The board remains cautiously optimistic about the long-term prospects of the group's core business despite global economic challenges, with a projected growth rate of 2.7% by 2025[49] - The group will continue to monitor market conditions closely and adjust its business strategies as necessary[50] - The group has approximately 27,000 employees globally, focusing on employee welfare and development opportunities[56] Corporate Governance - The audit committee has reviewed the year-end results for the year ending December 31, 2024[61] - The company will not declare a final dividend for the year ending December 31, 2024, consistent with the previous year[63] - The public float has been maintained in accordance with the listing rules as of the announcement date[65] - The annual performance announcement and annual report will be published on the Hong Kong Stock Exchange and the company's website[66] Customer Concentration - Approximately $168,475,000 of revenue in 2024 came from three single external customers, representing over 10% of total revenue[20] Contingent Liabilities - The group has contingent liabilities related to potential risks of import duties and other taxes totaling approximately $16,723,000 as of December 31, 2024, unchanged from the previous year[51] Investments and Assets - The company had no significant investments, acquisitions, or disposals in subsidiaries, associates, or joint ventures during the year[46] - There are no specific plans for significant investments or capital assets as of December 31, 2024[47] - The company had no asset pledges to third parties as of December 31, 2024[48] - Trade receivables increased to $108,440,000 from $83,812,000, with a net amount of $104,197,000 after provisions[36] - The group's cash and bank deposits totaled approximately $54,871,000 as of December 31, 2024, a decrease of about $20,909,000 compared to the previous year[53] - The total bank borrowings amounted to approximately $143,501,000 as of December 31, 2024, an increase of about $846,000 from December 31, 2023[53] - The capital debt ratio was approximately 56.8% as of December 31, 2024, defined as net debt (bank borrowings minus cash and bank balances) divided by shareholders' equity[54] Inventory Management - The impairment provision for slow-moving inventory increased from a reversal of $1,785 thousand in 2023 to a provision of $5,824 thousand in 2024[21]

自二零二五年三月二十九日起，聯泰控股有限公司董事局（「董事局」）成員載列如 下。 執行董事 王衛民 （董事局主席） 陳守仁 （永遠榮譽主席） 陳祖龍 （行政總裁） 章民 金鑫 非執行董事 霍宇山 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） 董事名單與其角色及職能 C 相關董事委員會主席 M 相關董事委員會成員 二零二五年三月二十八日 獨立非執行董事 陳銘潤 史敏 李卓然 董事局設有四個委員會。下表載列若干董事局成員於該等委員會所出任的職位資 料。 | | 審核委員會 | 提名委員會 | 薪酬委員會 | 融資及銀行 委員會 | | --- | --- | --- | --- | --- | | 王衛民 | | C | | | | 陳祖龍 | | | | C | | 章民 | | | M | | | 金鑫 | | | M | M | | 霍宇山 | M | | | | | 陳銘潤 | M | M | C | | | 史敏 | M | M | M | | | 李卓然 | C | M | M | | 附註： ...

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） 除上述者外，史女士於過往三年內並無於任何於香港或海外的上市公司擔任任何董 事職位；亦無於本公司或其附屬公司擔任任何其他職務，且與本公司任何董事、高 級管理人員、主要股東或控股股東概無任何關係。於本公告日期，史女士並無於本 公司任何股份中擁有任何權益（定義見香港法例第571章證券及期貨條例第XV部）。 獨立非執行董事的委任及退任 及 董事委員會組成變動 獨立非執行董事的委任 聯泰控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事局（「董事局」）欣 然宣佈，史敏女士（「史女士」）獲委任為本公司獨立非執行董事（「獨立非執行董 事」）、審核委員會、薪酬委員會及提名委員會成員，自二零二五年三月二十九日起 生效。 史女士的履歷詳情載列如下： 史女士，54歲，在會計及財務管理方面擁 ...

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。 於本公告日期，董事局包括以下董事： 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） 董事局會議日期 聯泰控股有限公司（「本公司」）董事局（「董事局」）謹此宣佈，董事局會議將於二零二 五年三月二十八日（星期五）舉行，以（其中包括）考慮及批准本公司及其附屬公司截 至二零二四年十二月三十一日止財政年度的年終業績及建議派發末期股息（如有）。 承董事局命 聯泰控股有限公司 公司秘書 陳曉亮 香港，二零二五年三月十四日 執行董事： 王衛民 （主席） 陳守仁 （永遠榮譽主席） 陳祖龍 （行政總裁） 章民 金鑫 非執行董事： 霍宇山 獨立非執行董事： 陳銘潤 王京 李卓然 本公司網站：www.luenthai.com ...

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。 （股份代號：311） 盈利警告 本公告由聯泰控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據香港聯 合交易所有限公司證券上市規則（「上市規則」）第13.09條及香港法例第571章證券及 期貨條例第XIVA部的內幕消息條文（定義見上市規則）作出。 本公司董事局（「董事局」）謹此知會本公司的股東及潛在投資者，基於對本集團截至 二零二四年十二月三十一日止年度的未經審核合併管理賬目的初步評估及董事局現 時可得的其他資料，預期截至二零二四年十二月三十一日止年度（「二零二四財年」） 的歸屬於本公司所有者的虧損介乎3,200萬美元至3,400萬美元，而截至二零二三年 十二月三十一日止年度（「二零二三財年」）則錄得歸屬於本公司所有者的虧損約600 萬美元。 誠如本公司日期為二零二四年七月三十日的公告及本公司截至二零二四年六月三十 日止六個月的中期報告所披露，本集團的業務受到多項因素影響，包括但不限 於：(i ...

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） 重續截至二零二四年十二月三十一日止年度的持續關連交易 重續持續關連交易 謹此提述本公司日期為二零二一年十一月十五日的該公告，內容有關現有資訊科 技服務總協議項下的交易。由於現有資訊科技服務總協議將於二零二四年十二月 三十一日屆滿，故於二零二四年十二月十三日，LTO（本公司的直接全資附屬公 司）與LTG訂立新資訊科技服務總協議，以重續現有資訊科技服務總協議的固定 年期，由二零二五年一月一日起至二零二七年十二月三十一日止為期三年。 於本公告日期，IST BVI為LTG的間接全資附屬公司。LTG由本公司執行董事陳 守仁博士的家族信託最終擁有。因此，LTG為本公司的關連人士。故此，IST BVI被視為聯繫人，並因此根據上市規則第十四A章為本公司的關連人士，而根 據新資訊科技服務總協議擬 ...

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） 重續有關 廠房物業及宿舍租賃總協議的 持續關連交易 謹此提述日期為二零二三年十二月八日的公告，內容有關（其中包括）現有廠房物 業及宿舍租賃總協議。 有鑑於現有廠房物業及宿舍租賃總協議將於二零二四年十二月三十一日屆滿，董 事局宣佈，於二零二四年十二月十三日，LTO（本公司的直接全資附屬公司）與 LTG訂立廠房物業及宿舍租賃總協議，年期為二零二五年一月一日至二零二五年 十二月三十一日。 於本公告日期，LTG最終由本公司執行董事陳守仁博士創立的酌情家族信託擁有 30%權益，且陳守仁博士控制上述家族信託酌情受託人董事局的組成。因此， LTG為本公司的聯繫人及關連人士。並無其他本公司的關連人士持有LTG的任 何股份權益。故此，根據上市規則第十四A章，根據廠房物業及宿舍租賃總協議 擬進行的 ...

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） 重續有關辦公室租賃總協議的持續關連交易 (1) 背景 謹此提述本公司日期為二零二三年十月二十日的公告，內容有關根據現有辦公室 租賃總協議擬進行的持續關連交易。 有鑑於現有辦公室租賃總協議將於二零二四年十二月三十一日屆滿，董事局宣 佈，於二零二四年十月二十五日，LTO（本公司的直接全資附屬公司）與聯泰國際 發展訂立辦公室租賃總協議，年期為二零二五年一月一日至二零二五年十二月三 十一日。 於本公告日期，聯泰國際發展由本公司執行董事陳守仁博士創立的酌情家族信託 最終持有97.49%權益，而彼控制上述家族信託酌情受託人董事局的組成。陳守仁 博士亦直接持有聯泰國際發展0.005%股權。因此，根據上市規則第十四A章，聯 泰國際發展為本公司的關連人士，而根據辦公室租賃總協議擬進行的交易構成本 ...

Financial Performance - The company reported a loss per share of (0.94) cents for the period, compared to a profit of 0.03 cents in the previous period[9]. - Revenue for the six months ended June 30, 2024, was $304,522 thousand, a decrease of 10.5% compared to $340,222 thousand in the same period of 2023[10]. - Gross profit for the same period was $38,621 thousand, down 18.1% from $47,155 thousand year-over-year[10]. - Operating loss for the six months ended June 30, 2024, was $(2,602) thousand, compared to an operating profit of $6,060 thousand in the prior year[10]. - Net loss for the period was $(9,808) thousand, a significant decline from a profit of $22 thousand in the same period of 2023[11]. - Total comprehensive loss for the six months ended June 30, 2024, was $(9,343) thousand, compared to $(2,009) thousand in the previous year[11]. - The profit/loss for the period was a loss of $4.358 million, with a loss of $9.635 million from garments and a profit of $5.277 million from apparel accessories[29]. - The company reported a net gain from the fair value of derivatives of $244,000, compared to $57,000 in the previous year[59]. - The company reported a loss attributable to owners of the company of $9,728,000 for the six months ended June 30, 2024, compared to a profit of $284,000 for the same period in 2023[70]. Assets and Liabilities - Total assets increased to $512,367 thousand as of June 30, 2024, compared to $474,997 thousand as of December 31, 2023, representing an increase of 7.5%[6]. - Current assets rose to $331,696 thousand from $286,572 thousand, marking an increase of 15.7%[6]. - Total liabilities increased to $330,024 thousand from $283,311 thousand, reflecting a rise of 16.5%[8]. - Non-current assets decreased to $180,671 thousand from $188,425 thousand, a decline of 4.0%[4]. - The company's equity attributable to owners decreased to $181,722 thousand from $190,668 thousand, a decrease of 4.6%[6]. - The total equity decreased to $182,343 thousand from $191,686 thousand, a decline of 4.9%[4]. - The total cash outflow from leases for the six months ended June 30, 2024, was $5,344,000, an increase from $4,170,000 in the same period of 2023[46]. - The total non-current lease liabilities were $19,407,000 as of June 30, 2024, a slight decrease from $19,930,000 on December 31, 2023[44]. - Total borrowings increased to $164,006,000 from $142,655,000, representing a growth of approximately 14.9%[55]. Cash Flow and Financial Management - Cash flow used in operating activities was $(11,114) thousand, slightly higher than $(10,749) thousand in the same period last year[17]. - Cash and bank balances increased to $81,212 thousand from $75,780 thousand, an increase of 7.4%[4]. - The company incurred a foreign exchange loss of $316 thousand during the period, compared to a loss of $917 thousand in the previous year[17]. - Financial expenses netted $(6,412) thousand, an increase from $(5,853) thousand in the same period of 2023[10]. - Current tax expense for the period was $1,243,000, up from $859,000 in the previous year, reflecting a 44.8% increase[65]. Revenue Breakdown - For the six months ended June 30, 2024, the total revenue from external customers was $304.522 million, with $183.362 million from garments and $121.160 million from apparel accessories[29]. - The apparel segment generated revenue of approximately $183,362,000, a decrease of about 15.4% or $33,437,000[90]. - The accessories segment's revenue was approximately $121,160,000, down by about $2,263,000 or 1.8%[91]. - Total revenue from European and American customers was approximately $180,714,000, accounting for about 59.3% of total revenue[92]. Corporate Governance and Management Changes - The company has appointed new directors and financial officers in 2024, indicating potential strategic shifts in management[2]. - The company has established an Audit Committee and a Remuneration Committee to enhance corporate governance[112]. - The company is committed to maintaining high levels of corporate governance to create shareholder value[112]. - The company established a Nomination Committee responsible for recommending the appointment or reappointment of directors, chaired by Mr. Wang Weimin[113]. - The Financing and Banking Committee was formed to review and approve the group's bank financing, ensuring alignment with overall business interests, chaired by Mr. Chen Zulon[113]. Strategic Outlook and Risks - Future economic outlook remains uncertain due to ongoing geopolitical tensions, including the Russia-Ukraine war and trade tensions between China and the U.S.[95]. - The group management will continue to assess the impact of the global economic situation on financial performance and business operations, implementing appropriate financial management measures to prepare for future challenges and opportunities[96]. - The group has implemented strict cost control measures, including reductions in production costs, distribution costs, and administrative expenses, aiming for greater synergy in overall administrative efficiency[96]. - The company identified potential impairment indicators for the apparel and accessories cash-generating units due to declining performance from key customers and a significant drop in budgeted gross margins[38]. Shareholder Information - The company reported a total of 1,034,113 thousand shares issued and fully paid as of June 30, 2024[49]. - The new share option plan was approved and adopted on May 30, 2024, with a validity period of 10 years[104]. - As of the report date, the total number of shares available for issuance under the new share option plan is 103,411,266 shares, representing approximately 10% of the total issued share capital[105]. - Shanghai Textile (Hong Kong) Limited is the largest shareholder, holding 730,461,936 shares (70.64%) of the company[108].