Group 1: BYD and International Partnerships - BYD officially announced a three-year strategic partnership with Inter Milan, becoming the club's global automotive partner and providing approximately 70 electric vehicles [1] Group 2: Financial Performance of Automotive Companies - Jiangling Motors reported a total revenue of 18.092 billion yuan for the first half of 2025, a year-on-year increase of 0.96%, while net profit attributable to shareholders decreased by 18.17% to 733 million yuan [1] - General Motors' Q2 2025 revenue was 47.122 billion USD, a decline of 1.8%, with net profit attributable to shareholders dropping 35.4% to 1.895 billion USD [4] - Stellantis faced a loss of 2.3 billion euros (approximately 19.3 billion yuan) in the first half of the year, with a 25% year-on-year decline in North American market sales [4] - Hyundai and Kia's electric vehicle exports to the U.S. fell by 88% in the first five months of the year, with Hyundai exporting 3,906 units and Kia 3,250 units [5] Group 3: Market Trends and Changes - Tesla's vehicle registrations in California dropped to 41,138 units in Q2, marking a 21.1% year-on-year decline and the seventh consecutive quarter of decline [3] - Mitsubishi Motors announced the termination of its joint venture with Aerospace Mitsubishi due to the rapid transformation of the Chinese automotive industry [6] Group 4: New Product Launches - Wuling officially launched the 2026 model of the Wuling Xingchi, with two configurations priced at 52,800 yuan and 66,800 yuan, respectively, and cumulative sales exceeding 80,000 units since launch [2]

Group 1 - The company announced a memorandum of investment cooperation with its business partner, Mr. Nguyen Minh Hoang, involving an investment of 69 billion VND for property acquisition in Vietnam [1] - The business partner is required to resell the property within 18 months after acquisition, based on market conditions and agreed minimum profit [1] Group 2 - Due to changes in Vietnamese laws and regulations, significant delays are expected, leading to the termination of the investment cooperation memorandum [2] - The termination agreement stipulates that the business partner will pay a total of 72.5 billion VND to the company, which includes a full refund of the investment amount and a compensation of 3.5 billion VND, approximately 5% of the investment [2] - The board believes that the termination agreement will not have a significant adverse impact on the group's financial performance and business operations, aligning with the interests of the company and all shareholders [2]

Market Overview - The Hong Kong stock market experienced a significant rise on May 14, with all three major indices increasing by over 2%. The Hang Seng Index rose by 2.3% to 23,640.65 points, the Hang Seng China Enterprises Index increased by 2.47% to 8,593.07 points, and the Hang Seng Tech Index gained 2.13% to 5,381.78 points [2]. Financial Sector Performance - Major financial stocks saw a substantial surge, particularly in the insurance and Chinese brokerage sectors. Notable gains included China Pacific Insurance rising nearly 8%, with China Life and China Taiping both increasing by over 6%. In the brokerage sector, Hongye Futures surged over 12%, while other firms like Xingsheng International and GF Securities rose by 9% and 6%, respectively [4][9]. Technology Sector Performance - Large technology stocks collectively performed well, with Baidu increasing by over 4%, Alibaba and JD.com both rising by over 3%, and Tencent gaining nearly 3%. Internet healthcare stocks also showed strength, with JD Health and ZhongAn Online both rising over 5% [4][6]. Automotive Sector Performance - The automotive sector continued its upward trend, with Leap Motor increasing by over 6% to reach a new high. Other notable gains included BYD and Li Auto, both rising over 4%, while XPeng and NIO increased by over 3% [5][10]. Regulatory Impact - The China Securities Regulatory Commission (CSRC) recently released a plan to promote the high-quality development of public funds, which is expected to drive capital flows towards the brokerage sector. The new regulations may lead fund managers to allocate more resources to sectors with lower current allocations, particularly those with higher benchmark weights [9].

Financial Performance - Revenue for the three months ended March 31, 2025, was $19.8 million, an increase of 76.8% from $11.2 million in the same period of 2024[3] - Gross profit for the same period was $2.5 million, compared to $0.4 million in 2024, reflecting a significant improvement[4] - The company reported a net profit of $0.9 million for the three months ended March 31, 2025, reversing a loss of $1.6 million in the previous year[4] - Operating income improved to $593,312 from a loss of $1.57 million year-over-year[4] - Total comprehensive income for the period was $703,962, compared to a loss of $2.87 million in the same quarter of 2024[5] Cash Flow and Liquidity - Cash and cash equivalents decreased to $11.53 million from $14.89 million at the end of the previous year[8] - The company reported a net cash outflow from operating activities of $6.23 million, compared to a net inflow of $3.49 million in the same period last year[8] Balance Sheet - Inventory increased to $25.45 million from $22.29 million, indicating a rise in stock levels[6] - Total assets decreased slightly to $96.08 million from $95.57 million[6] - The company’s total equity increased to $45.69 million from $44.98 million, showing a positive trend in shareholder equity[7]

Financial Performance - The company's revenue for 2024 was $81.1 million, a decrease of 22.8% compared to $105.1 million in 2023[9]. - Gross profit for 2024 was $7.3 million, down from $15.5 million in 2023, reflecting a significant decline in profitability[9]. - The company reported a loss before tax of $3.5 million in 2024, compared to a profit of $1.9 million in 2023[9]. - Total assets decreased to $103.4 million in 2024 from $106.1 million in 2023, indicating a reduction in the company's asset base[9]. - The total liabilities increased to $58.4 million in 2024 from $55.0 million in 2023, resulting in a higher debt level[9]. - The company's net asset value was $45.0 million in 2024, down from $51.1 million in 2023, showing a decline in shareholder equity[9]. - The group experienced a net loss of $3.8 million for the year ended December 31, 2024, a decrease of $5.5 million from a net profit of $1.7 million in the previous year[15]. - The company recorded a net loss of $3.8 million for the year ending December 31, 2024, compared to a net profit of $1.7 million for the year ending December 31, 2023, resulting in a decrease of $5.5 million. The net profit margin decreased from 1.6% to a net loss margin of 4.7%[25]. - The group's gross profit was approximately $7.3 million with a gross margin of 9.0%, down from $15.5 million and 14.7% respectively in the previous year, reflecting decreased sales volume and underutilized production capacity[18]. - Operating loss for the year ended December 31, 2024, was $2.8 million, compared to an operating profit of $1.9 million in the previous year[22]. Sales and Market Performance - The overall motorcycle sales in Vietnam reached approximately 51.7 thousand units in 2024, an increase of 30.8% compared to the previous year[12]. - The company exported approximately 27.6 thousand units of scooters and national motorcycles to ASEAN and non-ASEAN markets, a decrease of 41.0% from the previous year[12]. - Revenue for the year ended December 31, 2024, was $81.1 million, a decrease of $24.0 million or 22.8% compared to $105.1 million for the year ended December 31, 2023, primarily due to a significant drop in sales in Thailand[16]. - Domestic sales in Vietnam contributed approximately 50.3% of total revenue, up from 34.4% in the previous year, with domestic revenue increasing by 13.0% to $40.8 million[16]. - Export sales revenue decreased by 41.6% to $40.3 million, down from $69.0 million in the previous year, largely due to reduced sales in Thailand[16]. Corporate Governance - The company maintains a high standard of corporate governance, adhering to the corporate governance code as per the Hong Kong Stock Exchange[49]. - The company has established three board committees: the audit committee, the remuneration committee, and the nomination committee, with defined scopes of authority[61]. - The board is responsible for setting the group's goals, strategies, policies, and business plans, as well as monitoring operational and financial performance through annual budgets[54]. - The company emphasizes a corporate culture of "quality first and customer satisfaction," aiming for sustainable development and value creation for stakeholders[48]. - The board believes that the risk management and internal control systems are effective and sufficient as of December 31, 2024[81]. Employee and Workforce Management - The company employed 1,014 employees as of December 31, 2024, with total salary and related costs approximately $10.5 million, down from $12.0 million in the previous year[35]. - As of December 31, 2024, the total number of shares issued by the company is 797,489,604, with key shareholders holding significant stakes, including SY International Ltd. with 67.07%[141]. - The group has a total of 1,014 employees, with 793 male and 221 female employees, indicating a gender ratio of approximately 78% male to 22% female[188]. - The majority of employees (751) are full-time junior staff, while there are 150 full-time middle management and 113 full-time senior management[188]. - Employee training statistics for 2024 show that 12.74% of female employees and 87.26% of male employees participated in training programs, with an average training duration of 6 hours per employee[200]. Sustainability and Environmental Initiatives - The company is committed to sustainability initiatives, aiming to reduce carbon emissions by 25% by 2026[107]. - The company is committed to promoting environmental sustainability and high standards of corporate governance[156]. - The company has established an ESG governance framework to enhance its ESG management efforts[164]. - The company aims to expand the reporting scope of environmental KPIs to better reflect its ESG performance in the future[161]. - The company conducts annual environmental assessments, including noise and air quality tests, to ensure employee health and safety[198]. Risk Management - The company faces significant risks in the Vietnamese motorcycle industry due to market changes and increased competition[144]. - The company emphasizes the importance of risk management practices to mitigate operational and financial risks[144]. - The group has established procedures to identify, assess, and manage significant risks, with management responsible for risk identification[83]. Shareholder Communication - The board emphasizes the importance of maintaining clear and timely communication with shareholders to build investor confidence and attract new investors[93]. - The company has adopted a formal shareholder communication policy to ensure accurate and timely information is available through annual reports, interim reports, and announcements[93]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting within two months of submitting a written request[96]. Future Outlook and Strategic Initiatives - The company plans to launch two to three new or revamped motorcycle models in the Vietnamese market, including scooters and national vehicles, to enhance product diversification and profitability[38]. - The company is focusing on market expansion, particularly in Southeast Asia, aiming for a 30% market share by 2025[105]. - New product development includes the launch of an electric scooter line, expected to contribute $50 million in revenue in the first year[104]. - The management team has set a performance guidance of 20% EBITDA margin for the upcoming fiscal year[110].

Financial Performance - Revenue for the year ended December 31, 2024, was $81.1 million, a decrease of 22.8% from $105.1 million in 2023[3] - Gross profit fell to $7.3 million, down 52.8% from $15.5 million in the previous year[3] - The company reported a net loss of $3.8 million, compared to a profit of $1.7 million in 2023, representing a decline of 323.5%[3] - Basic and diluted loss per share was $(0.0042), compared to earnings of $0.0019 per share in 2023[7] - Total comprehensive loss for the year was $(6.155 million), a significant drop from a comprehensive income of $254,775 in the previous year[7] - The company reported a total pre-tax loss of $(3,524,562) for 2024, compared to a pre-tax profit of $1,857,866 in 2023[24] - The company reported a pre-tax loss of $3,844,473 for 2024, compared to a profit of $1,686,198 in 2023, resulting in a basic loss per share of $0.0042 for 2024, down from a profit of $0.0019 per share in 2023[34] - The company recorded an operating loss of $2.8 million for the fiscal year ending December 31, 2024, compared to an operating profit of $1.9 million for the fiscal year ending December 31, 2023[61] - The company's net loss margin increased from a net profit margin of 1.6% for the fiscal year ending December 31, 2023, to a net loss margin of 4.7% for the fiscal year ending December 31, 2024[65] Revenue Breakdown - Total revenue for the manufacturing and sales of motorcycles decreased to $72,781,261 in 2024 from $95,887,544 in 2023, representing a decline of approximately 24%[20] - Revenue from the manufacturing and sales of spare parts and engines decreased to $8,357,169 in 2024 from $9,260,375 in 2023, a decrease of about 10%[20] - The total reported segment revenue for 2024 was $98,605,201, down from $134,209,819 in 2023, indicating a decline of approximately 26.5%[24] - Revenue from Vietnam increased to $40,759,244 in 2024 from $36,131,761 in 2023, showing an increase of about 7%[27] - Revenue from Malaysia surged to $20,239,131 in 2024 from $6,754,409 in 2023, marking an increase of approximately 199%[27] Assets and Liabilities - Non-current assets decreased to $7.79 million from $8.49 million in 2023, reflecting a decline of 8.3%[9] - Current assets totaled $95.57 million, down from $97.61 million in 2023, a decrease of 2.1%[9] - Current liabilities increased to $56.30 million from $52.75 million, marking a rise of 6.5%[9] - The company's equity attributable to owners decreased to $44.98 million from $51.13 million, a decline of 12.1%[10] - The total amount of trade and other payables rose from $9,746,471 in 2023 to $22,220,446 in 2024, an increase of about 128.5%[45] Expenses - Research and development expenses decreased to $1,722,989 in 2024 from $2,420,421 in 2023, indicating a reduction of approximately 29%[30] - The total cost of goods sold was $73,851,650 in 2024, compared to $89,657,485 in 2023, reflecting a decrease of about 17.7%[40] - Employee costs totaled $9,340,639 in 2024, down from $10,642,128 in 2023, marking a reduction of about 12.2%[28] - The total salary and related costs for the year ending December 31, 2024, were approximately $10.5 million, a decrease from $12.0 million in 2023, with a total of 1,014 employees as of December 31, 2024[69] - The total interest expense for 2024 was $2,560,684, compared to $2,930,985 in 2023, showing a decrease of approximately 12.6%[28] Inventory and Provisions - The company reported inventory write-downs of $1,668,167 in 2024, significantly higher than $196,144 in 2023, indicating a substantial increase in inventory losses[30] - The company’s total inventory value was $22,292,912 in 2024, slightly down from $22,853,016 in 2023, reflecting a decrease of about 2.4%[38] - The company reported a total inventory provision of $3,934,206 as of December 31, 2024, up from $2,751,978 in 2023, representing an increase of approximately 43.0%[41] Market and Economic Conditions - The overall economic growth rate (GDP) in Vietnam for 2024 is projected to be 7.09%, indicating a recovery in economic activity[50] - The company’s exports to ASEAN countries decreased by 41.0% compared to the previous year, with total sales of scooters and national vehicles amounting to approximately 27.6 thousand units[51] - The company's total sales volume to ASEAN countries decreased, primarily due to conservative consumer purchasing power in Thailand, leading to a decline in overall motorcycle sales compared to the same period last year[53] Future Outlook and Strategy - The company plans to actively explore new models and customers to seek business growth opportunities and enhance revenue[55] - The group plans to launch two to three new or modified motorcycle models in the Vietnamese market, including scooters and national vehicles, to enhance product diversification and profitability[71] - The outlook for 2025 indicates potential market demand growth due to global interest rate cuts and lower commodity prices, although uncertainties remain due to US trade policies[70] - The group is actively seeking to enhance long-term profitability and aims to provide the best returns to its shareholders[72] Dividends and Shareholder Returns - The board did not recommend a final dividend for the year ended December 31, 2024[3] - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2024 (2023: none) [90] Corporate Governance and Compliance - The company has maintained sufficient public float as required by listing rules for the year ending December 31, 2024, and as of the announcement date [91] - The annual performance announcement will be published on the Hong Kong Stock Exchange's disclosure website and the company's website [92]

Revenue and Profitability - Revenue for the nine months ended September 30, 2024, was $61.2 million, a decrease of 31.4% from $89.2 million in the same period of 2023[1] - Gross profit for the same period was $4.9 million, down 62.3% from $13.0 million year-over-year[1] - The company reported a net loss after tax of $1.9 million, compared to a profit of $3.5 million in the previous year, representing a decline of 154.3%[1] Cash Flow and Liquidity - Operating cash flow for the nine months ended September 30, 2024, was $15.5 million, a significant improvement from a cash outflow of $3.3 million in the same period of 2023[7] - Cash and cash equivalents at the end of the period were $17.3 million, up from $8.5 million at the end of 2023, reflecting improved liquidity[7] Assets and Liabilities - Total assets decreased to $94.2 million as of September 30, 2024, from $97.6 million at the end of 2023[4] - Current liabilities increased to $20.2 million from $9.7 million at the end of 2023, indicating a rise in short-term financial obligations[4] Shareholder Equity and Financial Management - The total equity attributable to the company's shareholders decreased to $48.3 million from $51.1 million at the end of 2023, indicating a decline in shareholder value[6] - The company reported a net financing income of $987,837, an increase from $872,999 in the same period last year, showing improved financial management[2] Foreign Exchange Impact - The company experienced a foreign exchange loss of $915,140 for the period, compared to a loss of $1,697,434 in the previous year[3]

Financial Performance - The company's revenue for the six months ended June 30, 2024, was $32.8 million, a decrease of 45.9% from $60.6 million for the same period in 2023[6]. - The company recorded a net loss of $2.4 million for the six months ended June 30, 2024, compared to a net profit of $3.0 million for the same period in 2023, a decrease of $5.4 million[6]. - Revenue for the six months ended June 30, 2024, was $32,849,975, a decrease of 46.1% compared to $60,607,091 for the same period in 2023[42]. - Gross profit for the same period was $2,832,826, down 66.5% from $8,456,522 in 2023[42]. - The group reported a pre-tax loss of $2,418,066 for the six months ended June 30, 2024, compared to a pre-tax profit of $3,008,031 for the same period in 2023[55]. - The total comprehensive loss for the period was $4,738,801, compared to a comprehensive income of $2,932,094 in 2023[43]. - The group reported an operating loss of $2,418,353 for the six months ended June 30, 2024, compared to a profit of $3,001,138 for the same period in 2023, resulting in a basic loss per share of $0.0027[61]. Sales and Market Performance - Total sales in Vietnam reached approximately 21.4 thousand units, an increase of 37.2% year-on-year, with scooters accounting for about 6.8 thousand units and national motorcycles for 14.6 thousand units[5]. - Sales of scooters and national motorcycles exported to ASEAN countries totaled approximately 11.1 thousand units, a decrease of 66.6% compared to the same period last year[5]. - The decline in sales to ASEAN countries was attributed to conservative consumer purchasing power in key markets like Malaysia, the Philippines, and Thailand, influenced by currency depreciation against the US dollar[5]. - The company plans to expand its market presence beyond ASEAN countries to Europe and the Middle East, aiming to diversify sales channels and enhance market competitiveness[5]. Cost and Expenses - The group's cost of sales for the six months ended June 30, 2024, was $30.0 million, a decrease of 42.5% from $52.2 million for the same period in 2023[8]. - Distribution expenses decreased by 36.7% to $1.9 million for the six months ended June 30, 2024, compared to $3.0 million for the same period in 2023[10]. - Administrative and other operating expenses decreased by 8.8% to $3.1 million for the six months ended June 30, 2024, from $3.4 million for the same period in 2023[11]. - The group’s employee costs for the six months ended June 30, 2024, totaled $4,884,839, down from $5,799,568 in the same period of 2023, reflecting a decrease of 15.8%[57]. Assets and Liabilities - As of June 30, 2024, the group's current assets were $91.9 million, down from $97.6 million as of December 31, 2023[16]. - The group reported a total equity of $46,398,720 as of June 30, 2024, down from $51,137,521 at the end of 2023, a decrease of about 9.2%[45]. - The company’s total liabilities decreased to $2,090,013 from $2,170,072, reflecting a decrease of about 3.7%[44]. - Current liabilities increased to $51,326,253 from $52,797,600, indicating a decrease of about 2.8%[44]. Cash Flow and Financing - Cash and cash equivalents stood at $21,972,259 as of June 30, 2024, up from $8,857,049, reflecting a significant increase of approximately 148.5%[49]. - The net cash flow from operating activities for the six months ended June 30, 2024, was $6,683,036, compared to a negative cash flow of $(3,217,501) for the same period in 2023[49]. - The net cash flow from investing activities for the first half of 2024 was $8,385,622, compared to $2,848,463 in the same period of 2023, indicating a substantial increase[49]. - The company’s borrowings amounted to $42,098,345 for the first half of 2024, compared to $63,182,782 in the previous year, showing a decrease of about 33.3%[49]. Strategic Initiatives - The company aims to continue developing new models and seeking business growth opportunities to enhance revenue and create higher value[7]. - The company plans to enhance brand awareness through targeted marketing campaigns and expand market coverage to attract more potential consumers[26]. - The company aims to strengthen product design and core technology development as part of its focus on product innovation[26]. - The company is focusing on expanding its market presence and enhancing its product offerings through strategic acquisitions and partnerships, as evidenced by the increase in related party transactions[69]. Related Party Transactions - The company has engaged in related party transactions with various subsidiaries, including Sanyang Motor Colombia S.A.S. and Vietnam Sanyang Machinery Industry Joint Stock Company, indicating ongoing strategic partnerships[69]. - The total receivables from related parties as of June 30, 2024, were $492,837, a significant increase from $99,729 as of December 31, 2023, representing a growth of approximately 393%[70]. - The total payables to related parties as of June 30, 2024, were $6,248,339, compared to $1,309,586 as of December 31, 2023, indicating an increase of approximately 377%[70]. Governance and Compliance - The financial results were reviewed by KPMG, confirming compliance with applicable accounting standards[38]. - The company continues to adhere to corporate governance practices as outlined in the listing rules[35]. - There were no significant events after June 30, 2024, that could impact the group[37].

Financial Performance - Revenue for the six months ended June 30, 2024, was $32.8 million, a decrease of 54.7% from $60.6 million in the same period of 2023[1] - Gross profit for the same period was $2.8 million, down 66.9% from $8.5 million year-over-year[1] - The company reported a net loss after tax of $2.4 million, compared to a profit of $3.0 million in the prior year, representing a decline of 180%[1] - Basic and diluted loss per share was $(0.0027), compared to earnings of $0.0033 per share in the previous year[3] - Total revenue for the six months ended June 30, 2024, was $32,849,975, a decrease of 45.9% compared to $60,607,091 for the same period in 2023[12] - The company reported a pre-tax loss of $2,418,066 for the current period, reflecting significant operational challenges[14] - Other comprehensive loss for the period was $(4.7 million), compared to a gain of $2.9 million in the same period last year[3] - The company recorded a net loss of $2.4 million for the six months ended June 30, 2024, compared to a net profit of $3.0 million for the same period last year, a decrease of $5.4 million[36][45] - Gross profit was approximately $2.8 million with a gross margin of 8.6%, down from $8.5 million and 14.0% for the same period last year[39] Assets and Liabilities - Total assets decreased to $91.9 million as of June 30, 2024, from $97.6 million at the end of 2023, a reduction of 5.7%[4] - Current liabilities decreased to $51.3 million from $52.8 million, reflecting a decline of 2.8%[4] - The company's equity attributable to shareholders decreased to $46.4 million from $51.1 million, a drop of 9.1%[5] - Total trade receivables decreased to $7,801,963 as of June 30, 2024, from $10,282,879 as of December 31, 2023, reflecting a decline of approximately 24.3%[27] - The total trade payables increased to $3,919,493 as of June 30, 2024, from $2,101,628 as of December 31, 2023, indicating a significant rise[30] - As of June 30, 2024, the group's net current assets amounted to $40.6 million, a decrease from $44.8 million as of December 31, 2023[46] - The group's cash and bank deposits totaled $53.0 million as of June 30, 2024, down from $54.0 million as of December 31, 2023[47] - The debt ratio decreased to 73.1% as of June 30, 2024, compared to 83.7% as of December 31, 2023[46] Expenses - Sales cost for the six months ended June 30, 2024, was $30.0 million, a decrease of 42.5% from $52.2 million for the same period last year[38] - Distribution expenses decreased by 36.7% to $1.9 million from $3.0 million for the same period last year[40] - Administrative and other operating expenses decreased by 8.8% to $3.1 million from $3.4 million for the same period last year[41] - Employee costs for the six months ended June 30, 2024, totaled $4,884,839, a decrease of 15.7% from $5,799,568 in the same period of 2023[18] - Financing income decreased by 97.9% to $0.03 million from $1.45 million for the same period last year[43] Business Operations - The company identified two reportable segments for resource allocation and performance evaluation, focusing on motorcycle manufacturing and spare parts[11] - The company’s motorcycle production capacity is 200,000 units per year, with manufacturing facilities located in Dong Nai Province and Hanoi, Vietnam[32] - The company plans to expand into markets outside of ASEAN, including Europe and the Middle East, to enhance brand competitiveness[35] - The company launched a new scooter model, PRITI, which received over 3,000 sales orders within 15 days of its release[34] - The company aims to strengthen product design and core technology development as part of its focus on product innovation[55] Governance and Compliance - The company did not declare an interim dividend for the six months ended June 30, 2024[1] - The company did not adopt any new standards or interpretations that were not yet effective during the accounting period[10] - The company has no significant capital commitments or contingent liabilities as of June 30, 2024[50] - The company maintains compliance with corporate governance codes and standards as of June 30, 2024[59] - The unaudited interim results for the six months ending June 30, 2024, have been reviewed by the company's audit committee, confirming compliance with applicable accounting standards and regulations[63] - The board of directors does not recommend the payment of an interim dividend for the six months ending June 30, 2024, consistent with the previous period[64] - The interim results announcement will be published on the Hong Kong Stock Exchange's disclosure website and the company's website[65] Impairment and Investments - The company incurred impairment losses of $282,675 for property, plant, and equipment during the current period, compared to $255,900 for the six months ended June 30, 2023[19] - The company recognized impairment losses of $282,675 for other properties, plant, and equipment for the six months ended June 30, 2024, compared to $255,900 for the same period in 2023[26] - The total cost of other properties, plant, and equipment was reported at $282,675 for the six months ended June 30, 2024, up from $264,367 for the same period in 2023[25] - The company has allocated approximately $76.7 million from its IPO proceeds for various projects, including $15.0 million for building new specialty stores[57] - The company has no major acquisitions or disposals of subsidiaries or associates during the six months ended June 30, 2024[50]

Financial Performance - Revenue for the three months ended March 31, 2024, was $11.2 million, a decrease of 60.5% from $28.3 million in the same period of 2023[11] - Gross profit for the same period was $0.4 million, down 88.7% from $3.4 million year-over-year[11] - The company reported a net loss after tax of $1.6 million for the three months ended March 31, 2024, compared to a profit of $1.6 million in the prior year, representing a decline of $3.2 million[11] Cash Flow and Assets - Operating cash flow for the period was $3.5 million, a significant improvement from a negative cash flow of $4.3 million in the same quarter of 2023[9] - Total assets decreased to $88.0 million as of March 31, 2024, down from $97.6 million at the end of 2023[17] - Cash and bank balances were $47.6 million, a decrease from $54.0 million at the end of 2023[17] - The company’s total equity was $48.3 million as of March 31, 2024, down from $51.1 million at the end of 2023[8] Inventory and Financing - Inventory levels were reported at $22.2 million, slightly down from $22.9 million in the previous year[20] - The company experienced a significant increase in financing income, which was $0.7 million compared to $1.8 million in the same period last year[4] Foreign Exchange Impact - The company recorded a foreign exchange loss of $1.3 million for the period, compared to a loss of $0.2 million in the same quarter of 2023[15]