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。 GLORIOUS SUN ENTERPRISES LIMITED 旭日企業有限公司 （於百慕達註冊成立之有限公司） (股份代號：393) 中期業績公告 截至二零二四年六月三十日止六個月 中期業績 旭日企業有限公司（「本公司」）董事局（「董事局」）欣然宣佈，本公司及其附屬公司（「本集 團」）截至二零二四年六月三十日止六個月之未經審核中期簡明綜合業績，連同上年同期之比 較數字如下： 簡明綜合損益表 截至二零二四年六月三十日止六個月 二零二四年 二零二三年 | --- | --- | --- | --- | |---------------------------|-------|-----------------------|---------------------| | | 附註 | ( 未經審核 ) 千港元 | ( 未經審核 ) 千港元 | | 收入 與客戶簽訂合同的收入 | | 403,797 | ...

Financial Performance - Total revenue for the financial investment segment reached HKD 50,946,000, with a profit of HKD 8,332,000[14] - The renovation segment generated revenue of HKD 705,006,000, contributing a profit of HKD 13,968,000[14] - Export business revenue amounted to HKD 273,031,000, with a profit of HKD 10,535,000[14] - Other income and gains totaled HKD 54,175,000, resulting in a profit of HKD 8,049,000[14] - The overall pre-tax profit for the company was HKD 44,565,000[14] - The group's revenue for the year ended December 31, 2023, was HKD 821,237,000, a decrease from HKD 1,060,681,000 in the previous year, representing a decline of approximately 22.5%[51] - Revenue from interior design and renovation projects was HKD 468,726,000, down from HKD 701,643,000, indicating a decrease of about 33.2%[51] - Export business revenue decreased to HKD 244,313,000 from HKD 268,191,000, reflecting a decline of approximately 8.9%[51] - Retail, franchise, and other income increased to HKD 58,483,000 from HKD 48,277,000, marking an increase of about 21.5%[51] - Total revenue from customer contracts reached HKD 771,522,000, with contributions from Mainland China (HKD 463,609,000), export business (HKD 244,313,000), and others (HKD 58,483,000) [136] - Revenue from the interior design and renovation segment was HKD 701,643,000, while the export business generated HKD 268,191,000, and retail and other segments contributed HKD 48,277,000, totaling HKD 1,018,111,000 [141] Expenses and Liabilities - Depreciation expenses across segments totaled HKD 7,941,000, with the renovation segment accounting for HKD 7,797,000[14] - Capital expenditures for the company were reported at HKD 3,133,000, with HKD 2,855,000 allocated to renovation projects[14] - The company reported a total interest expense of HKD 2,510,000 for bank loans and lease liabilities [158] - The depreciation of property, plant, and equipment was HKD 3,494,000, while the depreciation of right-of-use assets was HKD 5,921,000 [161] - The company experienced a net loss of HKD 4,504,000 from inventory provisions during the year, compared to a provision of HKD 323,000 in the previous year [161] Leadership and Governance - The company has appointed Mr. Yang Jian and Ms. Zhang Huiyi as executive directors, indicating a strategic leadership change[11][12] - The board has recommended adjustments to the executive directors' remuneration for 2023, reflecting a commitment to aligning compensation with performance[125] - The company’s total remuneration for executive directors in 2023 was HKD 2,485,000, slightly up from HKD 2,461,000 in 2022, indicating a 1% increase[8] - No additional remuneration was payable to independent non-executive directors in 2023, consistent with 2022[165] - The total remuneration for the highest-paid employees was not disclosed, but the number of such employees remained at five[175] - The company did not report any arrangements for directors to waive or agree to waive their remuneration during the year[172] Taxation and Compliance - The company is not affected by the Pillar Two tax rules, as it does not fall within the scope of these regulations[15] - The company confirmed all taxable temporary differences as deferred tax liabilities, with exceptions noted[72] - Deferred tax assets are recognized for all deductible temporary differences and unused tax credits, limited to the extent that taxable profits are expected to be available[73] - The expected tax rates for deferred tax assets and liabilities are based on rates enacted or substantially enacted at the reporting date[74] - The company is subject to a corporate income tax rate of 25% on taxable profits for its subsidiaries established in mainland China[176] Market Strategy and Future Outlook - The group plans to expand its market presence and aims to become a leader in the regional apparel retail market[66] - The company is focused on enhancing its operational segments, particularly in interior design and renovation, to improve overall profitability[116] - The company is focused on expanding its market presence and enhancing its product offerings through strategic initiatives [152] - The company plans to monitor liquidity risks using regular cash flow management tools [149] - The company plans to hold its annual general meeting on May 24, 2024, to discuss future strategies and performance[104] Financial Position and Assets - The company reported a non-current asset value of HKD 35,545,000 as of December 31, 2023, compared to HKD 30,474,000 in 2022, reflecting an increase of 16.5%[121] - The fair value of non-listed equity investments increased by HKD 89,000 due to a sensitivity analysis on significant unobservable inputs[107] - The company maintained a discount for lack of marketability at 15.7% in 2023, slightly down from 15.8% in 2022[107] - The average number of ordinary shares in issue during the year was 1,524,438,630, a slight decrease from 1,527,985,000 in 2022[184] - The company’s pension contributions for executive directors increased to HKD 102,000 in 2023 from HKD 101,000 in 2022[8] Credit Risk Management - The expected credit loss for debt investments was calculated based on default risk and contractual loss assumptions, indicating a proactive approach to financial risk management[115] - The group has established a provision matrix based on historical credit loss experience, adjusted for specific forward-looking factors related to debtors and economic conditions[58] Lease Accounting - The group has adopted a single recognition and measurement approach for all leases, excluding short-term leases and low-value asset leases[39] - The group uses incremental borrowing rates to calculate the present value of lease payments, reflecting interest increases and adjustments for any changes in lease terms[42]

Financial Performance - The company reported total revenue of HKD 837,557,000 for the year, with segment revenues from financial investments, interior design and renovation, export business, and retail and franchises contributing HKD 56,108,000, HKD 470,591,000, HKD 248,622,000, and HKD 62,236,000 respectively[13]. - The company achieved a profit before tax of HKD 51,850,000 for the year, despite facing challenges in various segments[13]. - Basic earnings per share increased to HKD 28.6 cents, up from HKD 25.7 cents in the previous year, based on a profit attributable to shareholders of HKD 43,610,000[20]. - The company's revenue from contracts with customers for the year ended December 31, 2023, was HKD 771,522, a decrease of 24.2% compared to HKD 1,018,111 in 2022[25]. - The company's profit before tax for the year was HKD 51,850, representing an increase of 16.3% from HKD 44,565 in the previous year[25]. - The net profit for the year was HKD 44,291, slightly down by 2.6% from HKD 45,494 in 2022[25]. - Basic and diluted earnings per share for the year were HKD 2.86, an increase of 11.3% compared to HKD 2.57 in 2022[25]. - Total comprehensive income for the year was HKD 47,818, down from HKD 58,248 in the previous year, reflecting a decrease of 17.8%[29]. - The company's consolidated revenue for the year 2023 was HKD 821,237,000, a decrease of 22.57% compared to HKD 1,060,681,000 in 2022[61]. - The total revenue for the year decreased to HKD 821,237,000, reflecting a decline due to global interest rate hikes and a slowdown in domestic consumption[70]. Investments and Share Repurchase - The total net value of bonds and stock investments held by the company increased to HKD 766,375,000 as of December 31, 2023, up from HKD 373,476,000 on December 31, 2022, representing an increase of HKD 392,899,000[1]. - The company purchased high-yield blue-chip bank stocks at a total cost of HKD 468,385,000 during the year[1]. - The company repurchased a total of 10,312,000 shares during the year, with a total expenditure of HKD 8,311,000[10]. - The company repurchased 5,340,000 shares, reducing the total issued shares to 1,522,644,000 as of December 31, 2023[66]. - The company plans to further purchase shares of Bank of China and Industrial and Commercial Bank of China, with a total amount not exceeding HKD 200,000,000 each[66]. - The share repurchase was authorized by shareholders at the 2023 annual general meeting, aimed at enhancing the net asset value and earnings per share[96]. - The company aims to align its share repurchase strategy with the overall interests of shareholders[96]. Business Strategy and Market Outlook - The company anticipates a "moderate recovery" in the Chinese economy, driven by government measures and a focus on high-quality growth through technology innovation[3]. - The company plans to focus on high-quality development and resource allocation towards the most promising business areas to enhance competitiveness[4]. - The company is exploring new business opportunities in response to changing consumer patterns in Hong Kong, particularly in innovation and technology[4]. Financial Position and Assets - The total assets less current liabilities amounted to HKD 2,396,748, a decrease from HKD 2,444,789 in 2022[27]. - The company's non-current assets totalled HKD 822,380, significantly higher than HKD 422,206 in the previous year, indicating a growth of 94.7%[27]. - The company's current liabilities totalled HKD 655,847, a slight decrease from HKD 672,740 in 2022[27]. - The company's trade receivables amounted to HKD 192,355,000, down from HKD 242,361,000 in 2022, showing a decrease of 20.73%[46]. - The company's net cash and cash equivalents as of December 31, 2023, were HKD 2,488,966,000, a slight decrease of 0.11% from HKD 2,491,700,000 in 2022[62]. Corporate Governance and Audit - The audit committee reviewed the consolidated financial statements for the year ending December 31, 2023, including the accounting policies adopted by the group[95]. - The audit committee consists of three independent non-executive directors, assisting the board in reviewing financial reporting procedures and risk management[95]. - The financial statements have been verified for consistency with the amounts drafted by the company during the year[87]. - The company’s auditor, Ernst & Young, did not provide a certification for the preliminary announcement[87]. Employee and Dividend Information - The total number of employees decreased to 464 from 490 in the previous year[78]. - The proposed final dividend per share for 2023 is HKD 4.80, an increase of 20.00% from HKD 4.00 in 2022, with a total proposed final dividend amounting to HKD 72,807,000[56]. - The company will suspend share transfer registration from May 21 to May 24, 2024, for the upcoming annual general meeting[93]. - The company will also suspend share transfer registration from May 30 to June 3, 2024, for the distribution of the proposed final dividend[93]. - The annual general meeting is scheduled for May 24, 2024, with details to be published around April 25, 2024[92].

Financial Performance - For the six months ended June 30, 2023, the company reported revenue of HKD 421,535,000, a decrease of 22.5% compared to HKD 543,808,000 in the same period last year[14] - Gross profit for the same period was HKD 97,221,000, with a gross margin of approximately 23.1%, compared to HKD 86,808,000 and a margin of 16.0% in the previous year[14] - The company achieved a profit before tax of HKD 20,907,000, representing an increase of 78.5% from HKD 11,747,000 in the prior year[14] - Net profit for the period was HKD 17,457,000, up 18.4% from HKD 14,742,000 year-on-year[14] - Basic and diluted earnings per share increased to HKD 1.15 from HKD 1.05, reflecting a growth of 9.5%[27] - The total comprehensive income for the period was HKD 21,979,000, compared to HKD 29,288,000 in the previous year, indicating a decrease of 25.0%[28] - The company reported a mid-term profit attributable to shareholders of HKD 17,618,000, an increase of 9.66% compared to HKD 16,066,000 in the same period last year[110] - Total revenue for the first half of 2023 was HKD 454,197,000, representing a decrease of 20.31% from HKD 569,928,000 in the first half of 2022[111] - The revenue from interior design and renovation projects was HKD 234,790,000, down 28.97% from HKD 330,540,000 in the previous year[114] - Export business revenue decreased by 13.41%, from HKD 183,129,000 to HKD 158,568,000, primarily due to high inflation affecting consumer purchasing power in the US[114] Share Repurchase and Dividends - The company repurchased a total of 1,040,000 shares in June 2023 at an average price of HKD 0.75, totaling approximately HKD 772,000[8] - Subsequent to the reporting period, the company repurchased an additional 4,300,000 shares for a total consideration of approximately HKD 3,416,000[8] - The company paid dividends totaling HKD 61,119,000 during the period, compared to HKD 56,632,000 in the previous year[34] - The company declared an interim dividend of HKD 0.02 per share for the six months ended June 30, 2023, consistent with the previous year's interim dividend[67] Assets and Liabilities - The company's total assets as of June 30, 2023, were HKD 2,476,655,000, down from HKD 2,695,323,000 at the end of the previous year[29] - The total equity attributable to equity holders of the company was HKD 2,390,292,000, a decrease from HKD 2,429,613,000 year-on-year[30] - The company experienced a net cash outflow of HKD 110,261,000 during the period, compared to a cash inflow of HKD 285,407,000 in the same period last year[34] - Non-current liabilities increased to HKD 18,923,000 as of June 30, 2023, compared to HKD 15,176,000 as of December 31, 2022, representing a growth of 24.3%[49] - The total liabilities as of June 30, 2023, were HKD 18,923,000, which is an increase of 24.3% from the previous year, indicating a growing leverage position[49] Cash Flow and Investments - Cash generated from operating activities was HKD 36,793,000, a significant improvement from a cash outflow of HKD 32,033,000 in the prior year[34] - The company’s cash and cash equivalents at the end of the period stood at HKD 2,057,816,000, a slight decrease from HKD 2,059,071,000 at the end of the previous year[34] - The total fair value of equity investments recorded was HKD 213,048,000, consisting of HKD 206,020,000 in listed equity investments and HKD 7,028,000 in unlisted equity investments[127] - The company’s investment portfolio increased to a total net value of HKD 424,687,000 as of June 30, 2023, up from HKD 373,476,000 as of December 31, 2022, reflecting an increase of HKD 51,211,000[135] Economic Environment and Future Outlook - The company noted concerns regarding the economic environment, particularly high inflation and interest rates, which may impact business operations moving forward[86] - The company expects the overall economy to improve in the second half of the year, supported by potential new stimulus measures from the central government[137] - Management maintains a cautious investment approach due to uncertainties in the investment outlook, including high inflation and weak domestic consumption[132] Employee and Corporate Governance - The total number of employees as of June 30, 2023, was 470, a decrease from 490 as of December 31, 2022[150] - The company has complied with the corporate governance code as per the listing rules as of June 30, 2023[153]

Financial Performance - The company's profit for the six months ended June 30, 2023, was HKD 17,457,000, compared to HKD 14,742,000 for the same period in 2022, representing an increase of approximately 18.4%[4] - The total revenue for the six months ended June 30, 2023, was HKD 460,075,000, compared to HKD 460,075,000 in the previous period, indicating stable performance[27] - Basic earnings per share for the period were HKD 1.15, compared to HKD 1.05 for the same period in 2022, reflecting an increase of approximately 9.5%[21] - The net profit attributable to shareholders for the period was HKD 17,618,000, representing an increase of 9.66% from HKD 16,066,000 in the same period last year[36] - The company’s gross profit for the period was HKD 97,221,000, an increase from HKD 86,808,000 in the previous year[62] - The company reported a pre-tax profit of HKD 20,907,000 for the period[9] - The company’s total comprehensive income for the period was HKD 21,979,000, compared to HKD 29,288,000 in the previous year[56] Asset and Liability Management - The total non-current assets as of June 30, 2023, amounted to HKD 477,874,000, an increase from HKD 422,206,000 as of December 31, 2022, reflecting a growth of about 13.2%[5] - Current assets decreased to HKD 2,476,655,000 from HKD 2,695,323,000, indicating a decline of approximately 8.1%[5] - The net current assets stood at HKD 1,931,341,000, down from HKD 2,022,583,000, which is a decrease of about 4.5%[5] - As of June 30, 2023, the company held net cash and cash equivalents of HKD 2,460,941,000, slightly down from HKD 2,491,700,000 as of December 31, 2022[41] - The capital debt ratio was 1%, down from 2% as of December 31, 2022[112] Shareholder Returns - The interim dividend remained unchanged at HKD 2.00 per share for both periods[21] - The company declared an interim dividend of HKD 2.00 per share, consistent with the previous year[80] - The company declared an interim dividend of HKD 0.02 per share for the six months ended June 30, 2023, consistent with the previous year's dividend[106] Investment Strategy - The company maintained a cautious investment approach due to inflationary pressures and a weak domestic consumption environment, focusing on high-quality blue-chip stocks for long-term investment[19] - The company plans to adopt a cautious business strategy moving forward, focusing on stability before pursuing aggressive growth opportunities[40] - The company is patiently waiting for investment opportunities to provide ideal returns to shareholders[115] Revenue Segmentation - The total sales for the first half of 2023 amounted to HKD 454,197,000, a decrease of 20.31% compared to HKD 569,928,000 in the same period of 2022[79] - The financial investment segment reported revenue of HKD 32,662,000, an increase of 25.05% from HKD 26,120,000 year-on-year[80] - The interior design and renovation segment generated revenue of HKD 234,790,000, down 28.97% from HKD 330,540,000 in the previous year[80] - For the six months ended June 30, 2023, the total revenue from the interior design and renovation business was HKD 234,790,000, a decrease of 28.97% compared to HKD 330,540,000 in the same period last year[110] - The export business revenue declined from HKD 183,129,000 in the previous year to HKD 158,568,000, representing a decrease of 13.41%[111] Operational Efficiency - The total number of employees as of June 30, 2023, was 470, a decrease from 490 as of December 31, 2022[114] - The company aims to enhance internal management through digital technology applications to better serve quality customers[110] Economic Outlook - The company noted concerns regarding the economic risks in the US and the impact of high inflation on the business environment[78] - The overall economic outlook for China remains positive, with expectations of new government policies to stimulate the economy in the second half of the year[107] Corporate Governance - The company has complied with the corporate governance code as per the listing rules for the reporting period[116]

Financial Performance - The financial investment segment reported a significant increase in revenue, contributing to overall growth [3]. - The financial summary indicates a robust performance with key metrics showing positive trends [12]. - The total revenue for the year ended December 31, 2022, was HKD 1,060,681,000, representing a 6.30% increase compared to HKD 997,841,000 in 2021 [174]. - The profit attributable to equity holders for the year was HKD 39,229,000, up 6.04% from HKD 36,996,000 in the previous year [174]. - The financial investment income for the year was HKD 42,570,000, a decrease of 22.68% from HKD 55,059,000 in 2021 [178]. - The revenue from the export business increased by 38.46% to HKD 268,191,000 from HKD 193,693,000 in the previous year [174]. - The company’s revenue from interior design and renovation projects was HKD 701,643,000, a slight increase of 0.40% from HKD 698,844,000 in 2021 [174]. - Total revenue reached 1,083,158, with a significant contribution from various segments, including 50,946 from financial investments and 705,006 from interior design and renovation [183]. - The company recorded a net loss of 125, primarily due to impairment losses on financial assets [183]. - The company maintained a net cash and cash equivalents balance of HKD 2,491,700,000, down 2.78% from HKD 2,562,846,000 [174]. Strategic Initiatives - The company aims to become a leading financial investor in the region and a top supplier in the apparel retail market [14]. - The company plans to expand its market presence and enhance customer satisfaction through value-added products and services [14]. - The company is exploring new strategies for market expansion and product development to drive future growth [14]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the G sector [90]. - Market expansion efforts include entering E new regions, which are expected to contribute an additional F% to overall revenue [90]. - New product launches are anticipated, with the company planning to introduce C new products in the upcoming quarter, aimed at expanding market share [90]. - The company is investing in new technologies, with a budget of D million allocated for R&D to enhance product offerings and improve operational efficiency [90]. - The company has implemented new strategies to improve customer retention, aiming for a retention rate of H% in the next year [90]. - Future outlook includes continued focus on market expansion and potential new product development [187]. Governance and Leadership - The company has appointed new executive directors to strengthen its leadership team [19]. - The company emphasizes the importance of corporate governance and has appointed independent directors to enhance oversight [24]. - The board has authorized the issuance of new shares, not exceeding 20% of the total issued shares as of the resolution date [22]. Financial Reporting and Standards - The financial statements for the year ending December 31, 2022, have been adopted, reflecting the company's financial health [18]. - The group has adopted revised Hong Kong Financial Reporting Standards for the first time in the current financial statements, with no significant changes affecting the financial position or performance [31]. - The revision of Hong Kong Accounting Standard 37 clarifies that costs directly related to fulfilling a contract include incremental costs such as direct labor and materials, with no impact on the group's financial position or performance [33]. - The group has applied the revision of Hong Kong Financial Reporting Standard 9 prospectively from January 1, 2022, with no changes or exchanges of financial liabilities during the year, resulting in no impact on financial position or performance [34]. - The group is currently reviewing accounting policy disclosures to ensure alignment with the revised Hong Kong Accounting Standard 1, effective from January 1, 2023 [39]. Asset Management and Liabilities - Financial liabilities have been managed effectively, with a reduction in debt levels by I% over the past year, enhancing the company's financial stability [90]. - The company reported a deferred tax asset of J million, which is expected to be utilized in the upcoming fiscal periods [90]. - The company’s total liabilities included a net impairment loss of HKD 111,921,000 across various segments [168]. - Financial liabilities are disclosed separately in the consolidated financial position statement, indicating the company's obligations [79]. Risk Management and Provisions - The company evaluates credit risk of financial instruments as of each reporting date, considering the risk of default since initial recognition and determining significant increases in credit risk when contract payments are overdue by more than 30 days [61]. - The expected credit loss provision for trade receivables and contract assets is based on historical default rates, with adjustments made for forward-looking data, anticipating an increase in defaults due to projected economic downturns [137]. - The company uses a provision matrix to calculate expected credit losses for trade receivables and contract assets, based on overdue days and customer categories [159]. - The company assesses the required provision amounts involving significant management judgment and estimates, impacting inventory values and provision expenses if actual results differ from estimates [135]. - The expected credit loss provision for debt investments is determined based on assumptions regarding default risk and loss, with estimates influenced by various factors [138]. Miscellaneous - The company recognizes interim dividends as liabilities upon recommendation and declaration, confirming them at the time of declaration [129]. - The company confirms contract liabilities upon receiving customer payments or when receivables are due, recognizing revenue when control of goods or services is transferred [147]. - The company regularly reviews inventory at each reporting period to determine the need for provisions for identified obsolete inventory [135]. - Non-cash income was reported at 74, indicating additional revenue streams beyond traditional sales [183]. - Depreciation expenses amounted to 7,941, highlighting the company's asset utilization [183]. - Capital expenditures totaled 3,133, reflecting ongoing investments in property, plant, and equipment [185].

Financial Performance - The company's revenue for the year ended December 31, 2022, was HKD 1,018,111, an increase of 8.0% from HKD 942,782 in 2021[3] - Gross profit for the year was HKD 162,675, a slight decrease from HKD 166,247 in the previous year, resulting in a gross margin of approximately 15.9%[3] - The net profit for the year was HKD 45,494, representing an increase of 5.4% compared to HKD 43,161 in 2021[3] - Basic and diluted earnings per share for the year were HKD 2.57, up from HKD 2.40 in the previous year[3] - Total comprehensive income for the year was HKD 58,248, compared to a loss of HKD 17,241 in 2021[4] - The company reported a pre-tax profit of HKD 44,565, down from HKD 49,574 in the previous year[3] - The company’s financial performance was positively impacted by a 5.4% increase in net profit, indicating effective cost management strategies[3] Revenue Breakdown - Total revenue for the group reached HKD 1,020,965,000, with segment revenues from interior design and renovation at HKD 704,227,000, and financial investments at HKD 59,859,000[26] - The company's total revenue for the year ended December 31, 2022, was HKD 1,060,681,000, representing a 6.30% increase from HKD 997,841,000 in 2021[37] - Revenue from financial investments decreased by 22.68% to HKD 42,570,000, down from HKD 55,059,000 in 2021[40] - The indoor design and renovation business generated revenue of HKD 701,643,000, a slight increase of 0.40% from HKD 698,844,000 in the previous year[41] - Export business revenue rose significantly by 38.46% to HKD 268,191,000, compared to HKD 193,693,000 in 2021[37] - Retail and overseas franchise revenue for Hong Kong was HKD 48,259,000, a slight decrease of 3.91% from HKD 50,223,000 in the previous year[70] Assets and Liabilities - The company’s total liabilities increased to HKD 1,060,681, with a significant portion attributed to sales costs[3] - Non-current assets increased to HKD 422,206,000 from HKD 279,916,000, reflecting a growth of approximately 51%[20] - Current assets decreased to HKD 2,695,323,000 from HKD 3,017,236,000, a decline of about 11%[20] - Trade receivables totaled HKD 242,361,000, down from HKD 251,382,000, indicating a decrease of approximately 3%[29] - Current liabilities decreased to HKD 672,740,000 from HKD 784,136,000, a reduction of about 14%[20] - The group’s net asset value stood at HKD 2,022,583,000, down from HKD 2,233,100,000, reflecting a decrease of around 9%[20] - The group’s equity attributable to shareholders decreased to HKD 2,429,613,000 from HKD 2,490,262,000, a decline of approximately 2.4%[20] Market and Economic Conditions - The group’s financial performance was impacted by economic challenges in mainland China, including the COVID-19 pandemic and real estate debt crisis[34] - The company acknowledges the challenges posed by high global inflation and rising interest rates, which have created an uncertain investment environment[61] - The company is optimistic about the recovery of the mainland Chinese economy and the real estate sector, following recent policy relaxations[47] - The outlook for 2023 anticipates a recovery in the Hong Kong economy, expecting positive growth as the region opens up post-pandemic[87] Strategic Plans and Initiatives - The company plans to continue expanding its market presence and investing in new product development to drive future growth[3] - The company plans to maintain its focus on high-quality development and innovation, aiming for specialized and precise growth strategies[35] - The company is adapting its brand strategy and business structure in response to new market competition and consumer behavior changes[41] - The company aims to continue high-quality development and focus on core business areas to enhance competitiveness[75] - The company plans to implement business intelligence and supply chain construction to enhance overall competitiveness[67] - The management remains cautious in investment strategies, focusing on high-quality blue-chip stocks for long-term investment[65] Shareholder Returns - The company will propose a final dividend of HKD 0.04 per share, totaling HKD 61,119,000, subject to shareholder approval[61] - The company repurchased a total of 52,000 shares during the year, all of which have been canceled[93] - The repurchase price ranged from 0.81 to 0.82 per share[93] - No other purchases, sales, or redemptions of the company's listed securities were made during the year[93] Financial Reporting Standards - The company has adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the current or prior years[7] - The group has not adopted any new or revised Hong Kong Financial Reporting Standards that have not yet come into effect for the current accounting year[22]

Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 569,928,000, an increase of 35.2% compared to HKD 421,909,000 for the same period in 2021[6] - Gross profit for the same period was HKD 86,808,000, representing a gross margin of 15.2%, up from HKD 77,618,000 in 2021[6] - Net profit for the six months ended June 30, 2022, was HKD 14,742,000, a decrease of 61.9% from HKD 38,774,000 in 2021[12] - Basic earnings per share for the period was HKD 1.05, down from HKD 2.49 in the previous year[13] - For the six months ended June 30, 2022, the total comprehensive income amounted to HKD 31,334,000, compared to HKD 42,193,000 for the same period in 2021, representing a decrease of approximately 25.7%[22] - The net profit attributable to shareholders for the period was HKD 16,066,000, a decrease of 58.14% from HKD 38,381,000 in the previous year, primarily due to provisions for investments in R&F bonds[80] Assets and Liabilities - Total assets as of June 30, 2022, were HKD 4,820,019,000, compared to HKD 4,490,278,000 as of December 31, 2021[20] - Current assets decreased to HKD 2,820,242,000 from HKD 3,017,236,000 in the previous year[18] - Total liabilities decreased to HKD 2,369,989,000 from HKD 2,490,262,000[20] - The company’s retained earnings as of June 30, 2022, stood at HKD 1,149,774,000, compared to HKD 1,225,758,000 as of June 30, 2021, showing a decrease of about 6.2%[22] - Trade receivables as of June 30, 2022, totaled HKD 229,279,000, showing a decrease from HKD 251,382,000 as of December 31, 2021[54] - Trade payables as of June 30, 2022, amounted to HKD 169,755,000, down from HKD 228,651,000 as of December 31, 2021[55] Cash Flow - The net cash flow used in operating activities for the six months ended June 30, 2022, was HKD (32,033,000), an improvement from HKD (69,425,000) in the same period of 2021[23] - The company reported a net cash inflow from investing activities of HKD 375,716,000 for the six months ended June 30, 2022, compared to HKD 62,497,000 in the previous year, indicating a significant increase[23] - As of June 30, 2022, the cash and cash equivalents balance was HKD 2,059,071,000, up from HKD 1,688,718,000 at the end of June 2021, reflecting a year-over-year increase of approximately 22%[23] - The group’s cash and cash equivalents decreased by 4.56% to HKD 2,446,067,000 from HKD 2,562,846,000 at the end of the previous year[81] Dividends - The company declared an interim dividend of HKD 2.00 per share, unchanged from the previous year[13] - The group declared an interim dividend of HKD 4.00 per share, totaling HKD 61,119,000, compared to HKD 64,820,000 in the previous year[47] - The company paid dividends totaling HKD (61,119,000) for the six months ended June 30, 2022, consistent with the previous year's payment of HKD (64,820,000)[22] Share Capital and Equity - The average number of ordinary shares issued during the period was 1,527,986,000, compared to 1,541,098,000 in the previous year[48] - As of June 30, 2022, the total issued share capital was 1,527,984,000 shares, with a par value of HKD 0.10 per share[58] - The total issued share capital decreased slightly from 1,530,028,000 shares to 1,527,984,000 shares due to the cancellation of repurchased shares[59] - The company’s total equity attributable to equity holders decreased to HKD 2,436,991,000 as of June 30, 2022, from HKD 2,573,321,000 as of June 30, 2021, a decline of approximately 5.3%[22] Operational Segments - Total revenue for the group reached HKD 583,471,000, with significant contributions from interior design and renovation engineering (HKD 330,834,000) and export business (HKD 185,919,000) [33] - The interior design and renovation segment saw a significant increase of 41.81%, with revenue rising to HKD 330,540,000 from HKD 233,082,000[81] - The export business revenue increased by 39.77%, reaching HKD 183,129,000 compared to HKD 131,017,000 in the previous year[81] - The financial investment segment experienced a decline of 5.87%, with revenue falling to HKD 26,120,000 from HKD 27,750,000[81] - The group reported a net loss in the financial investment segment of HKD 14,695,000, while the export business generated a profit of HKD 16,736,000 [33] Management Outlook - The company is actively seeking growth opportunities despite challenges posed by the pandemic and global inflation[80] - The management remains cautious about the economic outlook for the second half of the year, influenced by ongoing uncertainties[78] - The management's outlook for the second half of 2022 remains cautious due to ongoing pandemic uncertainties and potential economic recession risks[90] Corporate Governance - The company has complied with the corporate governance code, except for the deviation regarding the attendance of the chairman at the annual general meeting due to COVID-19 restrictions[102] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and internal controls for the six months ending June 30, 2022[105] - The interim results report for the six months ending June 30, 2022, was reviewed and approved by the audit committee[105] Investments - The expected credit loss provision for listed debt investments amounted to HKD 46,857,000, a significant increase from a reversal of HKD 191,000 in the previous year [52] - The company’s bond investments had a total net value of HKD 414,708,000 as of June 30, 2022, a decrease of 48.8% from the previous year-end value of HKD 809,888,000[89] - The investment portfolio's net asset value decreased to HKD 414,708,000 as of June 30, 2022, down from HKD 809,888,000 at the beginning of the period, reflecting a reduction of HKD 395,180,000 due to bond redemptions and impairment provisions[89] Employee Information - The total number of employees increased to 495 as of June 30, 2022, compared to 481 at the end of 2021[90]

Business Strategy and Goals - The company aims to become a leading financial investor in the region, with a focus on providing high-quality financial products to achieve stable profits[5] - The company is committed to becoming a leading player in the interior design and decoration industry[5] - The company plans to expand its clothing export business to become one of the best suppliers for clothing operators[5] - The company aims to lead the clothing retail market in its region[5] - The company focused on improving operational quality and efficiency, aligning with market demands and core business strengths[44] - The company aims for high-quality development in 2022, focusing on market and customer orientation[67] - The company aims to continue stable business development and provide reasonable returns to shareholders[92] - The company is investing in new technology for supply chain optimization, aiming to reduce operational costs by 5% over the next two years[117] - Market expansion plans include entering two new international markets, targeting a revenue contribution of HKD 150 million from these regions within the next fiscal year[117] - The company is exploring potential mergers and acquisitions to enhance its market position, with a budget allocation of HKD 300 million for strategic investments[117] Financial Performance - The company's total revenue for 2021 was HKD 997,841,000, representing a 41.03% increase compared to HKD 707,548,000 in 2020[48] - The company's net profit attributable to shareholders decreased by 58.90% to HKD 36,996,000 from HKD 90,018,000 in the previous year[48] - Earnings per share (basic) fell by 59.25% to HKD 2.40, down from HKD 5.89 in 2020[48] - The indoor design and renovation business achieved a revenue of HKD 698,844,000, marking a 49.11% increase from HKD 468,685,000 in 2020[54] - The export business revenue rose by 40.83% to HKD 193,693,000 from HKD 137,533,000 in the previous year[48] - The financial investment business reported a total revenue of HKD 55,059,000, a decline of 16.54% from HKD 65,973,000 in 2020[52] - The company maintained a net cash and cash equivalents balance of HKD 2,562,846,000, down 7.33% from HKD 2,765,528,000 in the previous year[48] - The board proposed a final dividend of HKD 0.04 per share, down from HKD 0.042 in 2020, totaling HKD 61,201,000[49] - The group reported a mid-term dividend of HKD 0.02 per share distributed on September 28, 2021, and the board proposed a final dividend of HKD 0.04 per share for shareholders on the register as of June 1, 2022[196] Corporate Governance - The company has established a governance structure with various committees, including audit, remuneration, nomination, and investment committees[7] - The board of directors has recommended the re-election of independent non-executive directors, who bring diverse expertise to the board[30] - The company confirms that the independent directors meet the independence guidelines set by the Hong Kong Stock Exchange[27] - The company’s board diversity policy was adopted in August 2013, emphasizing the importance of diversity in enhancing company performance[133] - The Audit Committee is composed of three independent non-executive directors, with Mr. Liu Hanquan serving as the chairman, ensuring effective corporate governance[142] - The company’s chairman and CEO roles are clearly defined and held by different individuals, ensuring effective governance and oversight[132] - The company has complied with the listing rules by appointing at least three independent non-executive directors, with one possessing appropriate professional qualifications[131] - The board is responsible for maintaining the risk management and internal control systems, which are reviewed at least annually[168] - The internal audit department plays a crucial role in reviewing and assessing the effectiveness of the risk management and internal control systems, following the COSO control framework[172] Shareholder Engagement - The annual general meeting is scheduled for May 24, 2022, to review and adopt the financial statements for the year ending December 31, 2021[10] - The company will propose a final dividend for the year ending December 31, 2021, during the annual general meeting[11] - The company will allow shareholders to appoint a representative to vote on resolutions without attending the meeting in person due to COVID-19 precautions[35] - The company will suspend share transfer registration from May 19, 2022, to May 24, 2022, to determine eligibility for the upcoming annual general meeting[25] - The company will also suspend share transfer registration from May 30, 2022, to June 1, 2022, for the distribution of the proposed final dividend[26] Market Trends and Outlook - The overall economic environment remains challenging, with high vacancy rates in prime commercial properties reaching 7.6%[44] - User data indicated a rise in customer engagement, with a 20% increase in online sales channels, reflecting a shift towards digital retail strategies[117] - The company provided a positive outlook for the upcoming fiscal year, projecting a revenue growth of 10% to 12% based on current market trends and consumer demand[117] - New product launches are expected to contribute an additional HKD 200 million in revenue, with a focus on sustainable fashion lines[117] - A new marketing strategy has been implemented, focusing on digital platforms, which is expected to increase brand awareness by 25%[117] Risk Management - The group’s financial structure is considered healthy, with sufficient resources to meet operational needs in the foreseeable future[79] - The group’s market interest rate risk is primarily related to floating-rate bank borrowings, managed through a mix of fixed and floating-rate borrowing policies[80] - The company has established a policy for the disclosure of inside information to ensure confidentiality until public release in accordance with securities and futures regulations[174] - The internal audit plan is developed based on a risk-based approach aligned with the group's strategic goals and risk assessment results, approved by the audit committee[172] - No significant deficiencies were found in the risk management and internal control systems during the review year[173]

旭日 企 業 有 限 公 司 ( 於百慕達註冊成立之有限公司 ) （ 股份代號：393 ) 2021 業績報告 BOND FINANCE € HK (E B $ B 8 FX 蔚來空間石家莊先天下廣場店由常宏負責施工 0 fr the S 目錄 中期業績 2 中期簡明合併損益表 2 中期簡明合併全面收入表 4 中期簡明合併財務狀況表 5 中期簡明合併股東權益變動表 7 中期簡明合併現金流量表 8 中期簡明合併財務報表附註 9 管理層討論及分析 21 其他資料 25 1 二零二一年中期業績報告 | 旭日企業有限公司 中期業績 旭日企業有限公司（「本公司」）董事局（「董事局」）欣然宣佈，本公司及其附屬公司（「本集團」）截至 二零二一年六月三十日止六個月之未經審核中期業績，連同上年同期之比較數字如下： 中期簡明合併損益表 截至二零二一年六月三十日止六個月 | --- | --- | --- | --- | |-------------------------------------------------------------------------|-----------|------------------- ...