Financial Performance - The company reported revenue of approximately HKD 383.9 million for the fiscal year ending December 31, 2023, a decrease of about 8.8% compared to HKD 420.9 million in 2022[3]. - Gross profit increased to HKD 165.8 million, representing a growth of 5.6% from HKD 157.0 million in the previous year[3]. - The profit attributable to shareholders was approximately HKD 37.2 million, a significant increase of about HKD 96.7 million from a loss of HKD 59.5 million in 2022, marking a 162.52% improvement[3]. - Basic earnings per share for the year were HKD 0.3906, compared to a loss of HKD 1.1744 per share in 2022, reflecting a 133.26% increase[3]. - The herbal medicine business generated revenue of approximately HKD 121,500,000, a decrease from HKD 127,900,000 in 2022[24]. - Revenue from North America was approximately HKD 262,000,000, down from HKD 292,000,000 in the previous year, accounting for about 68.2% of total revenue[24]. - Revenue from China (including Hong Kong) was approximately HKD 122,100,000, down from HKD 128,800,000, representing about 31.8% of total revenue[24]. - The company reported a significant increase in other income to HKD 8,458,000, up from HKD 1,244,000 in the previous year[149]. - Net profit for the year was HKD 65,701,000, compared to a loss of HKD 38,501,000 in 2022, indicating a significant turnaround[149]. - Total comprehensive income for the year was HKD 52,431,000, compared to a loss of HKD 58,662,000 in the previous year[151]. Assets and Liabilities - The total assets decreased by 12.46% to HKD 770.3 million from HKD 879.9 million in the previous year[3]. - The total equity increased by 19.29% to HKD 340.0 million, up from HKD 285.0 million in 2022[3]. - Non-current assets increased to HKD 454,819,000 in 2023 from HKD 486,629,000 in 2022, with property, plant, and equipment rising to HKD 107,820,000 from HKD 93,934,000[153]. - Current assets decreased to HKD 315,462,000 in 2023 from HKD 393,310,000 in 2022, primarily due to a reduction in other receivables[153]. - The company recorded a decrease in total liabilities from HKD 473,536,000 in 2022 to HKD 277,349,000 in 2023, showcasing a reduction in financial obligations[153]. - The company’s equity attributable to owners increased to HKD 214,208,000 in 2023 from HKD 185,734,000 in 2022, indicating growth in shareholder value[154]. Cash Flow and Financing - Operating cash flow for the year ended December 31, 2023, was HKD 27,543,000, a significant improvement from a cash outflow of HKD 146,700,000 in 2022[158]. - Net cash generated from financing activities was HKD 5,647,000, a decrease from HKD 43,416,000 in 2022[159]. - Total cash and cash equivalents at the end of 2023 increased to HKD 111,867,000 from HKD 99,058,000 at the beginning of the year[159]. - The company incurred interest expenses of HKD 27,068,000, down from HKD 46,812,000 in the previous year[158]. Investments and Acquisitions - The company is committed to developing planting facilities in China as part of its strategy to explore profitable investment opportunities[8]. - The acquisition of 49% equity in Jiangxi Jiua Food Co., Ltd. for HKD 45,750,000, with HKD 15,250,000 paid in shares and HKD 30,500,000 in convertible bonds, is still pending completion[33]. - The company recorded a loss of HKD 2.0 million from its investment in the fruit planting business, an improvement from a loss of HKD 5.8 million in 2022[16]. - Impairment losses on investments in associates amounted to HKD 34,314,000, with no such losses reported in 2022[149]. Administrative and Operational Expenses - The group’s administrative expenses increased by approximately 9.6% to about HKD 86,400,000 from HKD 78,800,000 in the previous year[26]. - Financial costs decreased by approximately 42.1% to HKD 27,100,000 from HKD 46,800,000 in the previous year[27]. - The total cost for retirement benefit plans was approximately HKD 2.765 million, an increase from about HKD 2.512 million in the previous year[66]. Corporate Governance and Compliance - The company is committed to achieving excellence in corporate governance and has complied with all applicable codes during the year[100]. - The board consists of three executive directors and three independent non-executive directors as of December 31, 2023[103]. - The independent non-executive directors are appointed for a designated term of two years, ensuring shareholder interests are protected[104]. - The company has not made appropriate insurance arrangements for directors since 2019 due to market availability issues[104]. - The audit committee held two meetings in 2023, with all members being independent non-executive directors[113]. Environmental and Social Responsibility - The company emphasizes environmental responsibility by implementing measures to reduce carbon footprint and energy consumption[89]. - The company has implemented various paper-saving measures to minimize waste and promote recycling[92]. - The group made charitable donations totaling approximately HKD 450,000, significantly up from HKD 28,000 in the previous year[64]. Shareholder Information - The company has proposed a share consolidation where every two existing shares of HKD 0.05 will be consolidated into one share of HKD 0.1, effective January 18, 2024[35]. - The public shareholding ratio exceeds 25% of the company's issued shares as of the report date[85]. - The company has no significant contingent liabilities or capital commitments as of December 31, 2023[38][39]. - No final dividend has been recommended for the year ending December 31, 2023[40]. Risk Management and Internal Controls - The company has engaged MOSS Valuation & Advisory Limited as an independent consultant to review the internal control system, covering financial, operational, and compliance controls[123]. - The risk management framework includes identifying significant risks, assessing their impact, and implementing necessary measures to manage those risks[124]. - The board has reviewed the risk management and internal control systems for the year ended December 31, 2023, and considers them effective[125].

Financial Performance - For the fiscal year ending December 31, 2023, total revenue was HKD 383,923,000, a decrease of 8.8% compared to HKD 420,904,000 in the previous year[3]. - Gross profit for the year was HKD 165,807,000, representing an increase of 5.4% from HKD 157,020,000 in the prior year[3]. - The net profit attributable to the company's shareholders was HKD 65,701,000, a significant recovery from a loss of HKD 38,501,000 in the previous year[4]. - Basic earnings per share for the year were HKD 19.53, compared to a loss per share of HKD 58.72 in the previous year[3]. - The total comprehensive income for the year was HKD 52,431,000, compared to a loss of HKD 58,662,000 in the previous year[4]. - Revenue from toy and gift sales for the year 2023 was HKD 262,377,000, compared to HKD 293,042,000 in 2022, representing a decrease of approximately 10.5%[25]. - Revenue from traditional Chinese medicine products for 2023 was HKD 121,546,000, down from HKD 127,862,000 in 2022, indicating a decline of about 4.3%[25]. - The company reported a net profit of HKD 65,701 for the year, compared to a net loss of HKD 38,501 in the previous year[30]. - The company reported a profit of HKD 37,213,000 for the year ending December 31, 2023, compared to a loss of HKD 59,521,000 in the previous year[47]. Expenses and Costs - Administrative expenses increased to HKD 86,381,000 from HKD 78,805,000, reflecting a rise of 9.9%[3]. - The company recognized an impairment loss of HKD 34,314,000 on investments in joint ventures, which was not present in the previous year[3]. - The company incurred financial costs of HKD 25,417 in 2023, down from HKD 45,840 in 2022, indicating a decrease of 44.7%[30]. - The company experienced a significant increase in administrative expenses related to legal and professional fees, totaling HKD 3,045,000, compared to HKD 3,806,000 in the previous year[44]. - The cost of goods sold for the year was HKD 21,827,000, reflecting an increase from HKD 2,778,000 in the previous year[44]. - Sales and distribution costs for the year were approximately HKD 37,300,000, a decrease from HKD 47,100,000 in 2022, primarily due to reduced salary costs in the toy division[96]. Assets and Liabilities - Total assets decreased from HKD 486,629,000 in 2022 to HKD 454,819,000 in 2023, a decline of approximately 6.5%[6]. - Non-current assets decreased from HKD 310,336,000 in 2022 to HKD 246,969,000 in 2023, a decrease of about 20.4%[6]. - Current assets increased from HKD 393,310,000 in 2022 to HKD 315,462,000 in 2023, a decrease of approximately 19.8%[6]. - Total liabilities decreased from HKD 473,536,000 in 2022 to HKD 277,349,000 in 2023, a reduction of approximately 41.4%[7]. - The company's equity attributable to owners increased from HKD 185,734,000 in 2022 to HKD 214,208,000 in 2023, an increase of about 15.4%[7]. - The company's total non-current liabilities decreased from HKD 121,395,000 in 2022 to HKD 152,956,000 in 2023, an increase of approximately 25.9%[7]. - The company's total equity remained stable at HKD 339,976,000 in 2023 compared to HKD 285,008,000 in 2022, reflecting a growth of about 19.3%[7]. - The company reported a significant increase in cash reserves, indicating improved liquidity and financial health[6]. Market and Strategic Focus - The company plans to focus on market expansion and new product development in the upcoming fiscal year[4]. - The group plans to expand its market presence in the tourism and tea-related product sectors, leveraging its strategic business segments[28]. - The company is focusing on cost management strategies to improve profitability moving forward[44]. - The group has a positive outlook on the growth of the liquor industry in China, particularly in Huangjiu products, and intends to invest further in this sector[88]. Compliance and Governance - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, including HKFRS 17 on insurance contracts[13]. - The group anticipates that the application of the new and revised standards will not have a significant impact on its financial position and performance[16]. - The audit committee has reviewed the full-year performance announcement for the year ending December 31, 2023, ensuring compliance with financial reporting standards[123]. - The company has adhered to all applicable corporate governance code provisions, except for a specific deviation regarding independent non-executive directors' attendance at the annual general meeting[119]. Share Capital and Financing - The company completed a share consolidation on June 27, 2022, reducing the number of shares from 198,605,703,079 to 39,721,140,615[58]. - The company issued a total of 691,115,793 new ordinary shares at a price of HKD 0.205 per share to repay outstanding debts, raising approximately HKD 139,436,000 after transaction costs[65]. - The company implemented a share consolidation on April 28, 2023, where every five existing shares with a par value of HKD 0.01 were consolidated into one share with a par value of HKD 0.05[65]. - The company has outstanding convertible notes totaling HKD 92,000,000, which were issued as part of the acquisition of a 20% stake in Eagle Group[56]. - The company completed the placement of convertible bonds totaling up to HKD 45,000,000[108]. Employee and Operational Metrics - As of December 31, 2023, the company employed 387 staff, a decrease from 399 staff in 2022, indicating a reduction of approximately 3% in workforce size[117]. - The company plans to continue providing competitive compensation and benefits, with annual reviews based on individual performance and industry practices[117].

Financial Performance - The group recorded a revenue of approximately HKD 152.9 million for the six months ended June 30, 2023, a decrease of about 21% compared to HKD 194 million in the same period last year[5]. - The profit attributable to equity holders of the company was approximately HKD 36.4 million, a significant increase from a loss of HKD 23.5 million in the previous year[5]. - The basic earnings per share for the period was HKD 0.1961, compared to a loss per share of HKD 0.5094 in the previous year[5]. - Revenue for the six months ended June 30, 2023, was HKD 152,924,000, a decrease of 21.2% compared to HKD 193,988,000 in the same period of 2022[39]. - Gross profit increased to HKD 71,260,000, up 17.5% from HKD 60,623,000 year-on-year[39]. - Net profit for the period was HKD 51,260,000, a significant recovery from a loss of HKD 13,983,000 in the previous year[41]. - Total comprehensive income for the period amounted to HKD 35,120,000, compared to a loss of HKD 28,316,000 in the previous year[41]. - The income tax expense for the six months ended June 30, 2023, was HKD 4,503,000, an increase from HKD 2,275,000 in the same period of 2022[68]. Segment Performance - Revenue from the toys and gifts segment was approximately HKD 91 million, down from HKD 137.1 million in the previous year, but the gross profit margin increased to 40.1% from 31.3% due to reduced material costs[7]. - The herbal medicine segment generated revenue of approximately HKD 61.9 million, an increase from HKD 56.9 million in the previous year[18]. - The profit from the toy and gift segment was HKD 84,000, down from HKD 9,421,000 in the previous year, indicating a significant decline[62]. - The herbal medicine segment reported a profit of HKD 27,141,000, up from HKD 10,974,000 in the previous year, showing strong growth[62]. - The exploration segment reported no revenue for the current period, maintaining the same status as the previous year[62]. Cash Flow and Financial Position - As of June 30, 2023, the group had cash and bank balances of approximately HKD 65.4 million, down from HKD 99.1 million as of December 31, 2022[20]. - Cash and cash equivalents decreased to HKD 65,440,000 from HKD 99,058,000 at the beginning of the year[48]. - Operating cash outflow for the period was HKD 33,861,000, an improvement from HKD 138,649,000 in the previous year[48]. - The company's equity attributable to owners increased to HKD 298,505,000 from HKD 277,734,000 at the end of 2022[44]. - Total assets as of June 30, 2023, amounted to HKD 902,882,000, an increase from HKD 879,939,000 as of December 31, 2022[63]. - Total liabilities decreased to HKD 489,382,000 as of June 30, 2023, compared to HKD 502,931,000 at the end of 2022[64]. - The net liabilities decreased from HKD 80,226,000 to HKD 11,774,000 after the adjustment, indicating a significant improvement in the company's financial position[55]. Corporate Governance and Compliance - The company is committed to achieving excellence in corporate governance and has complied with applicable corporate governance codes during the reporting period[30]. - The company has not reported any significant changes in accounting policies compared to the previous fiscal year[56]. - The company continues to apply the Hong Kong Financial Reporting Standards, with no significant impact on the financial statements from the recent amendments[58]. Employee and Operational Information - The company employed 399 staff members as of June 30, 2023, unchanged from December 31, 2022[27]. - The company has maintained a competitive compensation and benefits system for its employees, regularly reviewing it based on individual performance and industry practices[27]. - The company recorded a decrease in employee costs, with salaries and bonuses totaling HKD 20,832,000, down from HKD 21,372,000 in 2022[72]. Investment and Future Plans - The group plans to invest in the liquor business, particularly in yellow wine products, due to optimistic growth prospects in the industry[13]. - The company is continuously reviewing its business to explore profitable investment opportunities and diversify its revenue base[25]. - The company plans to acquire a 49% stake in Jiangxi Jiuai Food Co., Ltd. for HKD 45,750,000, with part of the payment in shares and convertible bonds[91]. - The company has entered into an agreement to place convertible bonds with a total principal amount of up to HKD 45,000,000 at a conversion price of HKD 0.15 per share[92]. Shareholder Information - The company's capital structure consisted of 193,507,544 ordinary shares with a par value of HKD 0.05 each as of June 30, 2023[26]. - There were no unexercised share options as of June 30, 2023, consistent with December 31, 2022[26]. - The weighted average number of ordinary shares issued was 185,731,000 for the six months ended June 30, 2023, compared to 46,074,000 in the previous year due to a share consolidation[72]. - The company implemented a share consolidation on April 28, 2023, merging every five existing shares of HKD 0.01 each into one share of HKD 0.05[83]. - As of June 30, 2023, the company issued 9,210,000 ordinary shares to creditors to settle approximately HKD 31,100,000 in debts[83]. - The company raised approximately HKD 139,436,000 from issuing 691,115,793 new ordinary shares at HKD 0.205 each to repay outstanding debts, after deducting transaction costs of about HKD 2,243,000[83].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 因本公佈全部或任何部分內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 Kiu Hung International Holdings Limited 僑 雄 國 際 控 股 有 限 公 司 （於開曼群島註冊成立並於百慕達存續之有限公司） （股份代號：00381） 二 零 二 三 年 中 期 業 績 公 佈 僑雄國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本 公司及其附屬公司與聯營公司（「本集團」）截至二零二三年六月三十日止 六個月之未經審核簡明綜合中期業績。 簡明綜合損益表 截至六月三十日止六個月 二零二三年 二零二二年 （未經審核） （未經審核） 附註 千港元 千港元 營業額 4 152,924 193,988 銷售成本 (81,664) (133,365) 毛利 71,260 60,623 ...

Financial Performance - The company reported a revenue of approximately HKD 420,904,000 for the fiscal year ending December 31, 2022, representing a 30.02% increase from HKD 323,718,000 in 2021[4] - Gross profit for the year was HKD 157,020,000, a significant increase of 70.82% compared to HKD 91,922,000 in the previous year[4] - The loss attributable to shareholders decreased to HKD 59,521,000, down 73.75% from HKD 226,754,000 in 2021[4] - The basic loss per share improved to HKD 0.1174, a reduction of 89.83% from HKD 1.1548 in the prior year[4] - The group reported a loss of approximately HKD 5,800,000 for the year, compared to a loss of HKD 7,500,000 in the previous year[17] - The net loss for the year was HKD 38,501,000, significantly improved from a loss of HKD 220,496,000 in 2021[162] - The company reported a loss of HKD 59,521,000 for the year ended December 31, 2022, compared to a loss of HKD 226,754,000 in the previous year, indicating an improvement in financial performance[167] Revenue Sources - Revenue from the Chinese herbal medicine business was approximately HKD 127,900,000, an increase from HKD 59,400,000 in the previous year[24] - Revenue from North America was approximately HKD 292,000,000, up from HKD 263,000,000, accounting for 69.3% of total revenue[25] - The herbal medicine segment contributed a profit of HKD 36,800,000, enhancing the overall financial performance of the group[7] Assets and Equity - The total assets of the company decreased by 8.00% to HKD 879,939,000 from HKD 956,439,000 in the previous year[4] - The total equity increased by 34.31% to HKD 285,008,000 compared to HKD 212,194,000 in 2021[4] - The company's net asset value increased to HKD 285,008,000 in 2022 from HKD 212,194,000 in 2021[165] Dividends - The company has decided not to declare any final dividend for the year, consistent with the previous year[7] - The company did not recommend any final dividend for the year ended December 31, 2022[39] - The company has adopted a semi-annual dividend policy, aiming to maintain stable returns through gradual increases and special dividends[97] Expenses and Costs - The group's total administrative expenses increased by approximately 0.4% to about HKD 78,800,000[27] - Financial costs for the year were approximately HKD 46,800,000, an increase of about 6.1% from HKD 44,100,000 in the previous year[28] - Total costs related to retirement benefit plans amounted to approximately HKD 2.512 million for the year, an increase from approximately HKD 2.405 million in 2021[67] Capital Structure and Financing - The group plans to acquire 49% of Jiangxi Jiuai Food Co., Ltd. for HKD 45,750,000, with part of the payment in shares and convertible bonds[36] - The company is actively considering fundraising activities to raise new capital, including rights issues, public offerings, placements of new shares, and issuing convertible bonds[127] - The group has agreed with certain noteholders and creditors not to demand repayment of approximately HKD 72,900,000 and HKD 6,176,000 due before March 19, 2024[175] Governance and Compliance - The company’s board of directors presented the audited consolidated financial statements for the year ended December 31, 2022[52] - The company is committed to achieving excellence in corporate governance and has complied with applicable codes[103] - The board consists of three executive directors and three independent non-executive directors, ensuring independence and compliance with listing rules[106] - The audit committee held two meetings in 2022, with all members being independent non-executive directors[116] Internal Controls and Risk Management - The board has reviewed the risk management and internal control systems for the year ended December 31, 2022, and deemed them effective[129] - The group has engaged an independent consultant to review its internal control systems, covering financial, operational, and compliance controls[128] - The group has adopted a risk management framework that includes identifying significant risks, assessing their impact, and monitoring the effectiveness of management measures[130] Employee and Community Engagement - The company employed a total of 399 employees as of December 31, 2022, an increase from 386 employees in the previous year[45] - The company made charitable donations totaling approximately HKD 28,000 during the year, a significant decrease from HKD 181,000 in 2021[65] Environmental Responsibility - The company emphasizes environmental responsibility, implementing measures to reduce carbon footprint and energy consumption[92] - The company has implemented various paper-saving measures to minimize waste and promote recycling[95] Future Outlook - The company is continuously reviewing its existing business and exploring other profitable investment opportunities to diversify its business and revenue base[41] - The group is considering various strategies for market expansion and new product development, although specific details were not disclosed in the provided content[174]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會 就因本公佈全部或任何部分內容而產生或因依賴該等內容而引致之任何 損失承擔任何責任。 Kiu Hung International Holdings Limited 僑 雄 國 際 控 股 有 限 公 司 （於開曼群島註冊成立並於百慕達存續之有限公司） （股份代號：00381） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 佈 ...

Financial Performance - The group recorded a revenue of approximately HKD 193.9 million for the six months ended June 30, 2022, representing an increase of about 125% compared to HKD 86.3 million in the same period last year[5]. - The loss attributable to equity holders of the company was approximately HKD 23.5 million, a decrease from HKD 46.1 million in the previous year, primarily due to increased revenue from toys, gifts, and traditional Chinese medicine[5]. - Revenue for the six months ended June 30, 2022, was HKD 193,988,000, a significant increase from HKD 86,334,000 in the same period of 2021, representing a growth of 124.5%[37]. - Gross profit for the same period was HKD 60,623,000, compared to HKD 23,970,000 in 2021, indicating a gross margin improvement[37]. - The net loss for the six months ended June 30, 2022, was HKD 13,983,000, a reduction from a net loss of HKD 44,673,000 in 2021, showing an improvement of 68.7%[39]. - The reported total profit for the six months ended June 30, 2022, was HKD 19,386,000, compared to a loss of HKD 959,000 for the same period in 2021[64]. - The company incurred a loss of approximately HKD 13,983,000 for the six months ended June 30, 2022, raising concerns about its ability to continue as a going concern[53]. Revenue Segments - The toys and gifts segment generated revenue of approximately HKD 137.1 million, with a gross profit margin of 31.3%, up from 27.8% in the previous year, attributed to reduced material costs[7]. - The revenue from the traditional Chinese medicine business was approximately HKD 56.9 million, significantly up from HKD 7.8 million in the previous year[17]. - Total revenue from external customers for the toys and gifts segment was HKD 137,112,000, representing a significant increase from HKD 78,504,000 in the same period of 2021[61]. Cash and Liquidity - The group’s cash and bank balances were approximately HKD 75.4 million as of June 30, 2022, down from HKD 201.1 million as of December 31, 2021[19]. - The company reported a net cash outflow from operating activities of HKD 138,649,000 for the six months ended June 30, 2022, compared to HKD 28,788,000 for the same period in 2021, indicating a significant increase in cash burn[50]. - The company’s current liabilities exceeded its current assets by approximately HKD 253,174,000 as of June 30, 2022, indicating liquidity challenges[53]. - The company is actively negotiating with financial institutions to secure additional financing and extend repayment terms with creditors[55]. - The company is considering fundraising activities, including rights issues and public offerings, to raise new capital[55]. Assets and Liabilities - The company's total assets decreased to HKD 903,812,000 as of June 30, 2022, down from HKD 956,439,000 at the end of 2021[42]. - The total liabilities decreased to HKD 636,081,000 from HKD 658,843,000, showing a reduction of 3.4%[44]. - The company's equity attributable to shareholders decreased to HKD 94,149,000 from HKD 135,127,000, a decline of 30.4%[44]. - Inventory levels increased significantly to HKD 101,858,000 from HKD 35,355,000 in the previous year, indicating a rise of 187.5%[42]. - The net trade receivables increased to HKD 73,443,000 as of June 30, 2022, compared to HKD 26,963,000 at the end of 2021, reflecting a growth of approximately 172.5%[73]. Capital Structure and Financing - The group’s borrowings were approximately HKD 120.5 million as of June 30, 2022, compared to HKD 118.5 million as of December 31, 2021[19]. - The capital debt ratio as of June 30, 2022, was 264.8%, up from 180.9% as of December 31, 2021[20]. - The company completed a capital restructuring on June 27, 2022, consolidating every five existing shares into one new share with a par value of HKD 0.05[79]. - The company received valid acceptances for the issuance of 15,898,476 new shares under a rights issue on July 22, 2022, with 675,217,317 shares successfully placed at HKD 0.205 each[90]. - The total amount raised from the rights issue is approximately HKD 141,680,000, with a net amount of approximately HKD 139,810,000 after deducting all related expenses[91]. Operational Challenges - The group is evaluating the impact of the COVID-19 pandemic on its operations and financials, particularly regarding the delayed construction of high-end hotel casinos and residential properties[11]. - The company has implemented strict credit monitoring to minimize credit risk, with overdue balances reviewed regularly by senior management[73]. - The company has no significant legal claims or disputes pending as of the report date[87][88]. Dividends and Share Options - The group has decided not to declare any interim dividend for the period, consistent with the previous year[5]. - The company has no unexercised share options as of June 30, 2022, and the share option plan approved in May 2013 will expire on May 30, 2023[24].

Financial Performance - The company reported a revenue of approximately HKD 323.7 million for the fiscal year ending December 31, 2021, representing a 59.19% increase compared to HKD 203.4 million in 2020[4]. - The gross profit for the year was HKD 91.9 million, up 39.74% from HKD 65.8 million in the previous year[4]. - The loss attributable to shareholders was approximately HKD 226.8 million, a significant increase of 215.92% from HKD 71.8 million in 2020[4]. - The basic loss per share for the year was HKD 22.76, compared to HKD 13.48 in 2020, marking a 68.84% increase[4]. - The group reported a profit of approximately HKD 4,600,000 for the year, compared to a loss of HKD 5,600,000 in 2020[18]. - The group incurred a loss of approximately HKD 60,000,000 for the year, an increase from a loss of HKD 2,900,000 in 2020[19]. - The company reported a total comprehensive loss of HKD 209,930,000 for the year, compared to HKD 62,596,000 in 2020, highlighting ongoing challenges[167]. - The company reported a net loss of HKD 220,496,000 for 2021, compared to a net loss of HKD 70,102,000 in 2020, indicating a significant increase in losses[165]. Revenue Sources - The company’s toy and gift business generated revenue of approximately HKD 264.3 million, a 37.5% increase from HKD 192.3 million in 2020[15]. - The herbal medicine business generated revenue of approximately HKD 59,400,000, compared to zero in 2020[24]. - Revenue from North America was approximately HKD 264,000,000, up from HKD 190,000,000 in the previous year, accounting for 81.6% of total revenue[26]. Assets and Liabilities - The total assets of the company increased by 12.14% to HKD 956.4 million from HKD 852.9 million in the previous year[4]. - The company’s cash and cash equivalents increased to HKD 201,113,000 in 2021 from HKD 21,645,000 in 2020, indicating improved liquidity[169]. - The company reported a loss of approximately HKD 220,496,000 for the year ended December 31, 2021, with current liabilities totaling about HKD 258,444,000[178]. - The company’s net asset value decreased from HKD 293,991 thousand in 2020 to HKD 212,194 thousand in 2021, indicating a decline of approximately 27.8%[172]. Financial Strategy and Fundraising - The company plans to explore profitable investment opportunities and diversify its business and revenue base[9]. - The company plans to raise approximately HKD 141,000,000 through a rights issue at a subscription price of HKD 0.205 per share[179]. - The company is actively considering fundraising activities, including rights issues, public offerings, placements of new shares, and issuing convertible bonds[133]. - The group has established a clear organizational structure with defined responsibilities and authority for monitoring the performance of designated business units[137]. Corporate Governance - The board consists of three executive directors and six independent non-executive directors, ensuring independence and compliance with listing rules[111]. - The company has adopted a board diversity policy to enhance performance quality and ensure a balance of skills and experience among board members[120]. - The company has confirmed that public shareholding is sufficient, exceeding 25% of the total issued shares as of the report date[92]. - The company has received annual confirmations of independence from all independent non-executive directors, affirming their independence[94]. Risk Management - The group has adopted a risk management framework that includes identifying significant risks, assessing their impact, and implementing necessary measures to manage those risks[136]. - The board believes that the existing organizational structure and close supervision by management provide sufficient risk management and internal control[140]. - The board will regularly review the need for an internal audit function or engage independent professional service providers to assess the internal control and risk management systems[135]. Employee and Operational Insights - The workforce increased to 386 employees as of December 31, 2021, up from 356 employees in the previous year, indicating growth in operational capacity[48]. - The group’s total administrative expenses increased by approximately 9.2% to about HKD 78,500,000, primarily due to the acquisition of the herbal medicine business[28]. - The company has implemented effective paper usage measures to reduce its carbon footprint, including double-sided printing and recycling initiatives[97]. Investment Activities - The company completed the acquisition of a 51% stake in Hubei Jincao Tang Pharmaceutical Co., Ltd. for HKD 170 million, which will be paid through the issuance of convertible bonds[37]. - The acquisition of Hubei Jincao Tang Pharmaceutical Co. was completed, constituting a business combination, with fair value measurement of identifiable assets and liabilities required[150]. - Investment in associates as of December 31, 2021, includes approximately HKD 155,119,000 in Zhongle Development Co., HKD 132,334,000 in Anhui Fulao Wine Industry Development Co., and HKD 63,355,000 in USO Management & Holding Co. Ltd[148]. Auditor and Compliance - The auditor of the company has remained unchanged for the past three years, with the appointment confirmed at the annual general meeting[106]. - The company has complied with all applicable corporate governance code provisions, except for the deviation from code provision A.6.7 regarding independent non-executive directors' attendance at the annual general meeting[108]. - The audit committee held two meetings during the year, with all members being independent non-executive directors[131].

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於開曼群島註冊成立之有限公司 股份代號 邁步向前 Leading the Way Towards | | | | 公司資料 | 2 | | --- | --- | | 財務概要 | 3 | | 主席報告書 | 4 | | 管理層討論及分析 | 6 | | 董事及高層管理人員簡介 | 13 | | 董事會報告 | 15 | | 企業管治報告 | 23 | | 獨立核數師報告 | 30 | | 經審核綜合財務報表 | | | 綜合損益表 | 36 | | 綜合損益及其他全面收入表 | 37 | | 綜合財務狀況表 | 38 | | 綜合權益變動表 | 40 | | 綜合現金流量表 | 41 | | 綜合財務報表附註 | 43 | | 五年財務概要 | 136 | 公司 資料 執行董事： 張啟軍先生 （主席） 陳劍先生 劉明卿先生 獨立非執行董事： 王小寧先生 鄭皓安先生 江俊榮先生 黎子彥先生 陳雨鑫女士 註冊辦事處 Zuill Corporate Services (Bermuda) Limited Continental Buildings 25 Church Street Hamilton HM 12 Be ...