ee 力 豐 （ 集 團 ） 有 限 公 司 LEEPORT (HOLDINGS) LIMITED (ສ B # # # * * # # ^ = } (ສ B # # = * # # ^ ANAB es) - O O IA COTER NB-66VA ATEST PARTY 集成化 自 動 製 造 技 術 年報 目錄 | --- | --- | |----------------------|-------| | | 頁次 | | 公司資料 | 2 | | 主席報告 | 3 | | 管理層討論及分析 | 7 | | 董事及高級管理層履歷 | 10 | | 董事會報告書 | 13 | | 企業管治報告書 | 24 | | 環境、社會及管治報告 | 34 | | 獨立核數師報告 | 40 | | 經審核財務報表 | | | 綜合資產負債表 | 46 | | 綜合收益表 | 48 | | 綜合全面收益表 | 49 | | 綜合權益變動表 | 50 | | 綜合現金流量表 | 52 | | 綜合財務報表附註 | 53 | | 五年財務摘要 | 138 | 1 力豐（集團）有限公司 二零二零年年報 公司資料 2 | - ...

Financial Performance - For the first half of 2020, the group's sales amounted to HKD 291,756,000, a decrease of 23.2% compared to HKD 379,751,000 in the same period last year[5]. - Gross profit for the first half of 2020 was HKD 45,167,000, down 33.7% from HKD 68,163,000 year-on-year, with a gross margin of 15.5% compared to 17.9% in the previous year[5]. - Total contracts signed in the first half of 2020 were valued at HKD 271,691,000, a decline of 13.0% from HKD 312,289,000 in the same period last year[5]. - The group reported a loss attributable to owners of HKD 7,516,000 for the first half of 2020, an increase of 20.4% compared to a loss of HKD 6,241,000 in the same period last year[14]. - Revenue for the six months ended June 30, 2020, was HKD 291,756 thousand, a decrease of 23.2% compared to HKD 379,751 thousand in 2019[52]. - The net loss attributable to the company's owners was HKD 7,516 thousand, compared to a loss of HKD 6,241 thousand in the previous year, representing a 20.5% increase in loss[52]. - Basic loss per share for the period was HKD (3.27), compared to HKD (2.71) in 2019, indicating a worsening of performance[54]. - Total comprehensive loss for the period was HKD 16,637 thousand, a decrease from HKD 18,332 thousand in 2019[58]. Expenses and Cost Management - Selling and distribution costs were HKD 8,008,000, a significant reduction of 52.6% from HKD 16,900,000 in the same period last year[8]. - Administrative expenses decreased by 25.1% to HKD 50,936,000 from HKD 68,045,000 year-on-year, attributed to cost-saving measures implemented by the group[8]. - The company expects to save at least HKD 40,000,000 in operational expenses for the year 2020[23]. - The group’s employee benefit expenses, including directors' remuneration, were HKD 32,553,000 for the six months ended June 30, 2020, down 21% from HKD 41,183,000 in 2019[132]. Assets and Liabilities - The value of uncompleted orders at the end of June 2020 was HKD 104,636,000, down 30.5% from HKD 150,448,000 year-on-year[5]. - As of June 30, 2020, the total assets of the company amounted to HKD 799,366,000, a decrease from HKD 897,128,000 as of December 31, 2019, representing a decline of approximately 10.9%[48]. - The company's total equity stood at HKD 415,834,000, compared to HKD 438,223,000, showing a decrease of around 5.1%[51]. - The total liabilities decreased to HKD 383,532,000 from HKD 458,905,000, marking a reduction of approximately 16.4%[51]. - The group’s total assets as of June 30, 2020, amounted to HKD 799,366,000, a decrease from HKD 897,128,000 as of December 31, 2019[105]. - The group reported a total borrowing of HKD 170,651,000 as of June 30, 2020, down from HKD 239,094,000 as of December 31, 2019, indicating a 29% decrease[129]. Cash Flow and Financing - For the six months ended June 30, 2020, the company reported a net cash outflow from operating activities of HKD 23,760,000, compared to HKD 29,435,000 for the same period in 2019, representing a decrease of approximately 19%[69]. - The company generated a net cash inflow from investing activities of HKD 82,126,000, a significant increase from HKD 10,712,000 in the prior year, indicating a strong improvement in investment performance[69]. - The financing activities resulted in a net cash outflow of HKD 60,186,000, compared to a net inflow of HKD 20,122,000 in the previous year, reflecting changes in borrowing and repayment strategies[69]. - The company reported a net financing cost of HKD (2,763) thousand, an improvement from HKD (3,175) thousand in the previous year[52]. Market and Business Outlook - The company anticipates that the measurement instruments business will see significant growth in the coming years following the sale of a 49% stake in Mitutoyo Leeport Metrology Corporation[23]. - Approximately HKD 34,022,000 from the sale proceeds was allocated to expand the measurement instruments division in China[35]. - The company plans to continue focusing on metal processing machinery and electronic equipment, aiming for market expansion and product development in the upcoming periods[70]. Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[44]. - The board of directors confirmed adherence to the standard code for securities trading throughout the reporting period[46]. Employee and Management Information - As of June 30, 2020, the company employed 268 staff, down from 310 as of December 31, 2019[26]. - For the six months ended June 30, 2020, the total remuneration for key management personnel was HKD 5,303,000, an increase from HKD 4,475,000 in 2019, representing a growth of 18.5%[149].

Financial Performance - In 2019, the company's sales amounted to HKD 690,896,000, a decrease of 15.2% compared to HKD 814,836,000 in 2018[27] - The gross profit for 2019 was HKD 114,823,000, down 16.8% from HKD 137,933,000 in 2018, resulting in a gross margin of 16.6% compared to 16.9% in the previous year[27] - The total value of contracts signed in 2019 was HKD 588,523,000, a reduction of 30.9% from HKD 852,161,000 in 2018[27] - Other income and gains totaled HKD 14,481,000 in 2019, a decrease of 12.1% from HKD 16,476,000 in 2018[28] - The company reported a loss attributable to owners of HKD 43,413,000 in 2019, compared to a profit of HKD 19,210,000 in 2018[34] - The basic loss per share for 2019 was HKD 0.1887, compared to a basic earnings per share of HKD 0.0835 in 2018[35] - The net profit margin for 2019 was approximately -6.7%, a decline from 2.4% in 2018[46] - The return on equity for 2019 was approximately -10.4%, down from 4.1% in 2018[47] Expenses and Liabilities - Administrative expenses increased by 16.7% to HKD 136,688,000 in 2019, up from HKD 117,158,000 in 2018, primarily due to increased employee costs and higher operational expenses[29] - The net financing expenses for 2019 were HKD 7,056,000, compared to HKD 4,696,000 in 2018, with total financing expenses rising by 36.6% to HKD 8,635,000[31] - The net asset liability ratio increased to approximately 34.6% as of December 31, 2019, compared to 27.8% in 2018[45] - As of December 31, 2019, the group had contingent liabilities totaling HKD 10,281,000, up from HKD 4,631,000 in 2018[50] Business Operations - In 2019, the group's overall business decreased by 15.2% compared to 2018, with equipment sales dropping by 16.3%[38] - The sales of measuring instruments fell by 38.5% in 2019, primarily due to shipping delays[38] - The group completed the sale of a 49% stake in Mitutoyo Leeport Metrology Corporation for HKD 100,000,000 in January 2020[42] - The group anticipates challenges in 2020 but sees opportunities in infrastructure investments by the Chinese government[41] Shareholder Information - The board did not recommend any final dividend for the year ended December 31, 2019, but proposed a special dividend of HKD 0.025 per share for the year ending December 31, 2020[36] - The company did not recommend any dividend payment for the fiscal year ending December 31, 2019[73] - The company's dividend policy does not have a predetermined payout ratio and is subject to the board's discretion based on various financial and operational factors[153] - The board will review the dividend policy periodically and can update it as deemed necessary[156] Corporate Governance - The company confirmed compliance with the corporate governance code as of December 31, 2019[136] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed risk management and internal control systems[125] - The company has adopted the standard code for securities transactions by directors and confirmed compliance for the entire year[137] - The board consists of seven members, including three independent non-executive directors, ensuring a diverse and balanced governance structure[152] - The company has established a framework for granting options, requiring independent non-executive director approval for options granted to major shareholders or directors exceeding certain thresholds[97] Risk Management - The company has a risk management system in place to identify and manage significant risks that could adversely affect its performance[76] - The company confirmed that there are no significant uncertainties that could severely impact its ability to continue as a going concern[169] - The board of directors has reviewed the effectiveness of the risk management and internal control systems as of December 31, 2019, and is satisfied with the results[173] Environmental and Social Responsibility - Total electricity consumption for the year was 512,865 kWh, a decrease from 573,911 kWh in the previous year, resulting in a reduction of CO2 emissions from 310 tons to 277 tons[187] - Water consumption decreased from 1,747 cubic meters to 1,599 cubic meters, with CO2 emissions from water usage also reduced from 0.7 tons to 0.6 tons[187] - Paper consumption decreased from 4,637 kg to 3,374 kg, leading to a reduction in CO2 emissions from paper usage from 4.3 tons to 3.1 tons[187] - The company has implemented an eco-friendly lighting and air conditioning management system to ensure energy efficiency in its offices[189] - A paperless data storage system has been established, allowing employees to store and retrieve electronic documents, reducing paper usage[189] - The company has set up waste recycling bins in offices to collect recyclable materials, contributing to waste reduction efforts[190] Employee and Operational Practices - The company has established a defined contribution retirement plan for eligible employees in Hong Kong, with a contribution rate of 5% of salary[128] - Employee training programs are regularly organized to enhance skills related to teamwork, leadership, and technical expertise[197] - The company maintains a supplier evaluation system to ensure the sustainability and compliance of its supply chain[200] - The company encourages customers to adopt environmentally responsible practices, offering special maintenance services to extend the lifespan of products[191]

Financial Performance - The group's sales for the first half of 2019 were HKD 379,751,000, a decrease of 11.7% compared to HKD 430,297,000 in the same period last year[7]. - Gross profit was HKD 68,163,000, slightly down by 0.2% from HKD 68,275,000, with a gross margin increase to 17.9% from 15.9% year-on-year[7]. - The group's attributable loss for the first half of 2019 was HKD 6,241,000, compared to a profit of HKD 17,243,000 in the same period last year[17]. - The company reported a revenue of HKD 379,751,000 for the six months ended June 30, 2019, a decrease of 11.8% compared to HKD 430,297,000 in the same period of 2018[53]. - The company incurred an operating loss of HKD 68,296,000, compared to an operating profit of HKD 11,920,000 in the previous year, reflecting a significant decline in operational performance[53]. - The net loss attributable to the company's owners was HKD 6,241,000, a sharp decline from a profit of HKD 17,243,000 in the prior year[53]. - The group reported a loss of HKD 6,868,000 for the period, compared to a profit of HKD 17,875,000 in the previous year, indicating a significant downturn in profitability[117]. - Total comprehensive loss for the period was HKD 18,332,000, down from a total comprehensive income of HKD 24,522,000 in the previous year[59]. Sales and Contracts - Total contracts signed in the first half of 2019 amounted to HKD 312,289,000, a decrease of 34.0% from HKD 473,069,000 in the previous year[7]. - The company reported a significant increase in sales from its sheet metal machinery business, attributed to several infrastructure projects in China[28]. - The company anticipates that certain industries, such as electric vehicles, 5G equipment, and mobile phones, will provide new business opportunities despite current market challenges[28]. Expenses and Costs - Operating expenses increased, with selling and distribution costs rising by 17.8% to HKD 16,900,000, and administrative expenses up 35.3% to HKD 68,296,000[11]. - The cost of goods sold for the six months ended June 30, 2019, was HKD 309,685,000, down from HKD 359,129,000 in 2018, representing a decrease of approximately 13.8%[147]. - The company's employee benefit expenses, including directors' remuneration, rose to HKD 41,183,000 in the first half of 2019, up from HKD 31,973,000 in 2018, marking an increase of about 28.8%[147]. Financial Position - Total assets as of June 30, 2019, were HKD 905,362,000, down from HKD 932,693,000 at the end of 2018, indicating a decrease of 2.9%[49]. - The company's total liabilities decreased slightly to HKD 484,028,000 from HKD 487,275,000, showing a reduction of 0.5%[51]. - Cash balance as of June 30, 2019, was HKD 54,216,000, compared to HKD 52,874,000 at the end of 2018, indicating a stable cash position[24]. - The company's capital expenditure for the first half of 2019 totaled HKD 116,000, a significant decrease from HKD 4,071,000 in the same period of 2018, indicating a reduction in investment activities[34]. - The company’s total equity attributable to owners decreased to HKD 421,022,000 from HKD 445,418,000 in the previous year[61]. Financing and Debt - The net financing cost was HKD 3,175,000, up from HKD 2,057,000 in the previous year, with financing costs increasing by 38.9% to HKD 3,973,000[13]. - As of June 30, 2019, the company's net debt-to-equity ratio was approximately 40.4%, up from 33.8% on December 31, 2018, indicating a higher level of borrowing compared to equity[25]. - The total bank financing available to the company as of June 30, 2019, was approximately HKD 737,916,000, with HKD 262,297,000 utilized, reflecting a reliance on bank loans for operational funding[27]. Dividends and Shareholder Returns - The group did not declare any interim dividend for the first half of 2019, compared to HKD 0.03 per share in the same period last year[19]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2019, compared to an interim dividend of HKD 6,902,000 in 2018[158]. Employee and Workforce - As of June 30, 2019, the company employed 346 staff, an increase from 328 employees at the end of 2018, reflecting a slight growth in workforce[30]. - Management personnel compensation for the six months ended June 30, 2019, was HKD 4,337,000, an increase from HKD 4,161,000 in the same period of 2018[164]. Accounting and Compliance - The group has adopted various new and revised standards effective from January 1, 2019, including HKFRS 16 related to leases[74]. - The financial statements have been prepared on a going concern basis, reflecting the board's confidence in the group's financial resources[71]. - The group has implemented new accounting policies consistent with the previous fiscal year, with no significant impact from other new standards adopted[73]. Risks and Liabilities - The company faces various financial risks, including market risk, credit risk, and liquidity risk, which are detailed in the financial risk management section[95]. - The company has total contingent liabilities of HKD 5,706,000 related to guarantees provided to customers, up from HKD 4,631,000 as of December 31, 2018[34]. - The company has outstanding foreign currency forward contracts totaling HKD 25,574,000, aimed at mitigating exchange rate risks associated with its sales and purchases[36].

Leep 力 豐 （集 團）有 限 公 司 LEEPORT (HOLDINGS) LIMITED (於百慕 達 註 冊 成 立 之 有 限 公 司) (股份代號：0387) | --- | --- | --- | --- | --- | |-------|-------|-------|-------------------|-------| | | | | | | | | | | 動化 ffu 工業 4.0 | | | | | | | | 2018 年報 目錄 頁次 公司資料2 主席報告3 管理層討論及分析8 董事及高級管理層履歷 12 董事會報告書 15 企業管治報告書 25 環境、社會及管治報告 34 獨立核數師報告 40 經審核財務報表 綜合資產負債表 46 綜合收益表 48 綜合全面收益表 49 綜合權益變動表 50 綜合現金流量表 52 綜合財務報表附註 53 五年財務摘要 142 1 力豐（集團）有限公司 二零一八年年報 公司資料 董事 主要往來銀行 執行董事 渣打銀行（香港）有限公司 李修良先生（主席兼集團行政總裁） 創興銀行有限公司 初維民先生 法國巴黎銀行，香港分行 陳正煊先生 比利時聯合 ...