Tristate Holdings Limited （於百慕達註冊成立之有限責任公司） 年報 2024 2024 股份代號: 458 (Incorporated in Bermuda with limited liability) Annual Report Stock code: 458 Tristate Holdings Limited Tristate Holdings Limited Annual Report 2024 年報 本產品採用的材料來自良好管理的FSC®認證森林和其他受控來源。 目錄 | 公司資料 | 2 | | --- | --- | | 五年財務摘要 | 3 | | 主席報告 | 4 | | 管理層討論及分析 | 6 | | 企業管治 | | | 企業管治報告 | 13 | | 環境、社會及管治報告 | 25 | | 董事及高層管理人員簡介 | 49 | | 董事會報告 | 51 | | 獨立核數師報告及財務報表 | | | 獨立核數師報告 | 58 | | 綜合損益表 | 62 | | 綜合全面收益表 | 62 | | 綜合財務狀況表 | 63 | | 綜合權益變動表 | 64 | ...

Tristate Holdings Limited（「本公司」）董事會（「董事會」）欣然提呈本公司及其附屬公司（統稱「本集團」） 截至2024年12月31日止年度之綜合業績連同2023年之比較數字。 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之內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而 引致之任何損失承擔任何責任。 2024年年度業績公告 2024年年度業績之財務摘要 業績 綜合損益表 截至2024年12月31日止年度 | | | 2024年 | 2023年 千港元 | | --- | --- | --- | --- | | | 附註 | 千港元 | | | 收入 | 3 | 4,183,746 | 4,215,667 | | 銷售成本 | | (2,468,378) | (2,432,652) | | 毛利 | | 1,715,368 | 1,783,015 | | 其他收益╱（虧損）淨額 | 4 | 12,429 | (48,931) | | 銷售及分銷費用 | | (824,052) | (862,206) | ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 1,926,401, a decrease of 6.3% compared to HKD 2,055,381 for the same period in 2023[9]. - Gross profit for the same period was HKD 794,933, down 9.4% from HKD 877,319 in 2023[9]. - Operating profit decreased to HKD 125,387, a decline of 14.5% from HKD 146,614 in the previous year[9]. - Profit before tax was HKD 97,141, down 15.5% from HKD 114,985 in 2023[9]. - Net profit for the period was HKD 63,903, a decrease of 18.1% compared to HKD 78,105 in the same period last year[9]. - Basic earnings per share for the period was HKD 0.23, down from HKD 0.27 in 2023[9]. - Total revenue for the group was HKD 1,993,621,000, compared to HKD 2,095,573,000 in the prior period, reflecting a decrease of 4.9%[17]. - The group reported a net profit of HKD 63,903,000, down from HKD 78,105,000, indicating a decline of 18.1%[17]. Assets and Liabilities - Total assets as of June 30, 2024, were HKD 1,824,950, slightly down from HKD 1,843,724 at the end of 2023[11]. - As of June 30, 2024, the total equity amounted to HKD 1,177,650, a decrease of 2.3% from HKD 1,205,058 as of December 31, 2023[12]. - The company's non-current liabilities decreased to HKD 775,119 as of June 30, 2024, down from HKD 804,497 at the end of 2023, reflecting a reduction of 3.6%[12]. - Current liabilities decreased to HKD 1,123,794 from HKD 1,107,123 at the end of 2023, reflecting a slight increase in financial stability[11]. - Cash and bank balances decreased to HKD 182,822,000 as of June 30, 2024, down 60.5% from HKD 462,655,000 as of December 31, 2023[47]. Inventory and Receivables - Inventory increased to HKD 952,122,000, up from HKD 741,108,000 at the end of 2023, indicating a 28.4% rise[11]. - The company experienced an increase in inventory write-downs to HKD 27,564 for the six months ended June 30, 2024, compared to HKD 16,622 in the previous year, representing a 65.5% increase[15]. - Accounts receivable as of June 30, 2024, amounted to HKD 401,677,000, a decrease of 4.3% from HKD 421,889,000 as of December 31, 2023[45]. - The aging of accounts receivable shows that amounts less than 3 months increased to HKD 572,031,000 from HKD 523,316,000, representing a growth of 9.3%[45]. Segment Performance - Revenue for the apparel segment reached HKD 1,040,680,000, an increase from HKD 966,921,000 in the previous year, representing a growth of 7.6%[17]. - Brand business revenue was HKD 952,941,000, down from HKD 1,128,652,000, indicating a decline of 15.6%[17]. - The pre-tax profit for the apparel segment was HKD 122,085,000, compared to HKD 124,548,000 in the previous year, showing a decrease of 2.0%[17]. - Nautica's revenue decreased by 20% in the first half of 2024 compared to the same period in 2023, reflecting a weaker domestic market in China and cautious consumer spending[63]. - Reebok's revenue in the first half of 2024 decreased by 17% compared to the previous year, attributed to slowing consumer demand and ongoing brand restructuring efforts[63]. Cash Flow and Dividends - The operating cash flow for the six months ended June 30, 2024, was a net cash outflow of HKD 212,768, a significant decline from a net inflow of HKD 82,267 in the prior year[15]. - The company paid dividends to non-controlling interests amounting to HKD 3,309 during the period[13]. - The interim dividend declared on August 26, 2024, is HKD 0.06 per share, consistent with the previous year[34]. Shareholder Information - The total issued and fully paid ordinary shares increased to 272,601,253 as of June 30, 2024, from 271,607,253 as of December 31, 2023[54]. - The company’s major shareholder, New Perfect Global Limited, holds 182,577,000 shares, also accounting for approximately 66.98% of the total issued share capital[75]. - The company has a stock option plan adopted on June 6, 2016, to grant options to eligible persons to subscribe for shares[77]. Corporate Governance - The company has adhered to the principles of the Corporate Governance Code, with a noted deviation regarding the roles of the Chairman and CEO being held by the same individual[83]. - All directors confirmed compliance with the Standard Code for securities trading during the reporting period[85]. - The audit committee reviewed the interim financial statements for the six months ended June 30, 2024[90].

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之內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而 引致之任何損失承擔任何責任。 （ 於 百 慕 娃 註 冊 成 立 之 有 限 黃 任 公 司 ） （股份代號：458） 截至2024年6月30日止六個月之中期業績公告 | --- | --- | |-------------------------------------------------------------------------------------------|-------| | 2024 年中期業績財務摘要 | | | 收入 19.26 億港元 權益股東應佔溢利 6,300 萬港元 每股盈利 0.23 港元 中期股息每股 0.06 港元 | | 中期業績 Tristate Holdings Limited（「本公司」）董事會（「董事會」）欣然提呈本公司及其附屬公司（統稱「本集 團」）截至2024年6月30日止六個月之未經審核簡明綜合中期業績連同2023年之比較數字。 簡明綜合中期損益表 | --- | --- ...

環境、社會及管治報告 | --- | --- | --- | --- | |----------------------|----------------------------------------------------------------------------------------------|--------------------|-------| | | 主要範疇、層面、一般披露及關鍵績效指標 | 段落 | 備註 | | B. 社會 | | | | | 僱傭及勞工常規 | | | | | 層面 B1 ：僱傭 | | | | | 一般披露 | 有關薪酬及解僱、招聘及晉升、工作時數、 假期、平等機會、多元化、反歧視以及其他 待遇及福利的： | 6.1 僱傭及勞工常規 | – | | | (a) 政策；及 | | | | | (b) 遵守對發行人有重大影響的相關法律 及規例 | | | | | 的資料。 | | | | 關鍵績效指標 B1.1 | 按性別、僱傭類型（如全職或兼職）、年齡 組別及地區劃分的僱員總數。 | 8 主要績效數據 | – | | 關鍵績效指標 B1.2 | 按性別、年齡組 ...

Financial Performance - Revenue for 2023 reached HKD 4.216 billion, an increase from HKD 3.731 billion in 2022, representing a growth of approximately 13%[2] - Profit attributable to equity shareholders was HKD 171.23 million, significantly up from HKD 30.77 million in 2022, marking an increase of about 455%[2] - Earnings per share for 2023 was HKD 0.63, compared to HKD 0.11 in 2022, reflecting a substantial increase of 472%[2] - Operating profit for 2023 was HKD 308.20 million, up from HKD 182.05 million in 2022, indicating a growth of approximately 69%[2] - Gross profit for the year was HKD 1.783 billion, compared to HKD 1.449 billion in 2022, representing an increase of about 23%[2] - Total comprehensive income for the year was HKD 184.55 million, a significant increase from HKD 2.54 million in 2022[34] - The group recorded a profit attributable to equity shareholders of HKD 171 million for the year ended December 31, 2023, compared to a profit of HKD 31 million in 2022, representing a significant increase[63] - The company reported an annual profit of HKD 180,173,000 for 2023, compared to HKD 39,824,000 in 2022, indicating significant growth[131] - The total comprehensive income for the year was HKD 184,550,000, a substantial increase from HKD 2,535,000 in the previous year[134] - The company reported a net profit of HKD 180,173,000 for the year, compared to HKD 39,824,000 in 2022[186] Dividends - The company declared a final dividend of HKD 0.19 per share for the year[2] - The group declared an interim dividend of HKD 0.06 per share and a proposed final dividend of HKD 0.19 per share for 2023[75] - The company plans to declare a final dividend of HKD 0.19 per share for the year ended December 31, 2023, compared to no dividend in 2022[110] - The total dividend for the year is projected to be HKD 0.25 per share, compared to no dividends in 2022[123] Revenue Breakdown - The revenue from the apparel segment was HKD 1,932,856,000 in 2023, slightly down from HKD 1,939,077,000 in 2022, indicating a decrease of about 0.1%[42] - The brand business generated revenue of HKD 2,282,811,000 in 2023, up from HKD 1,792,117,000 in 2022, reflecting a significant increase of approximately 27%[42] - Revenue from brand operations increased from HKD 1.792 billion in 2022 to HKD 2.283 billion in 2023, with Nautica and Spyder revenues growing by 53% and 67% respectively[87] - Revenue from products sold in Hong Kong amounted to HKD 117,675,000 in 2023, down from HKD 194,067,000 in 2022, reflecting a decline in local sales[160] Expenses and Costs - The company incurred employee benefit expenses of HKD 732,940,000 in 2023, an increase from HKD 665,341,000 in 2022[163] - The cost of inventory for the year was HKD 2,432,652,000, up from HKD 2,282,219,000 in the previous year, indicating rising costs[163] - Depreciation expenses for owned properties, plants, and equipment were HKD 76,390,000 in 2023, compared to HKD 65,406,000 in 2022[163] - General and administrative expenses increased by 6% compared to 2022, primarily due to increased management costs to support business growth[90] - General and administrative expenses rose to HKD 2,894,000 in 2023 from HKD 1,831,000 in 2022, reflecting increased operational costs[144] Assets and Liabilities - The group’s total assets as of December 31, 2023, were HKD 3,116,678,000, compared to HKD 3,076,209,000 in 2022, indicating a growth of about 1.3%[44] - The group’s total liabilities decreased to HKD 1,911,620,000 in 2023 from HKD 2,036,731,000 in 2022, reflecting a reduction of approximately 6.2%[44] - Non-current assets decreased to HKD 1,272,954,000 in 2023 from HKD 1,321,384,000 in 2022, reflecting a decline of 3.7%[177] - The company’s total assets less current liabilities increased to HKD 2,009,555,000 in 2023 from HKD 1,851,086,000 in 2022, an increase of 8.5%[177] - The company’s equity attributable to shareholders rose to HKD 1,180,201,000 in 2023, compared to HKD 1,020,151,000 in 2022, reflecting a growth of 15.7%[177] Market Expansion and Strategy - The company plans to expand its market presence, particularly in China, where revenue increased to HKD 1.359 billion from HKD 1.010 billion in 2022[21] - The group’s main markets are China (32%), the UK (22%), Italy (13%), and Canada (9%), with significant revenue growth in China attributed to franchise brand performance[68] - The group maintains a diversified product strategy and strengthens service offerings to global brand clients, without heavy reliance on individual customers[95] - The group has established long-term relationships with suppliers and subcontractors, ensuring no heavy reliance on a small number of suppliers[99] Impairment and Losses - The company reported a net loss from other losses of HKD 48.93 million in 2023, compared to a net loss of HKD 18.61 million in 2022[2] - Impairment losses for property, plant, and equipment were HKD 6,176,000 in 2023, down from HKD 19,808,000 in 2022, indicating a decrease of about 68.9%[49] - Impairment losses for intangible assets were HKD 46,055,000 in 2023, compared to HKD 16,172,000 in 2022, representing an increase of approximately 184%[49] - The group incurred a net loss of HKD 49 million related to impairment losses on Reebok's franchise rights and property, plant, and equipment in 2023[89] Investments and Acquisitions - The company has made significant investments in property, plant, and equipment, totaling HKD 178.28 million in 2023, compared to HKD 192.88 million in 2022[20] - The group plans to acquire a 45% stake in MO IP Srl for EUR 3.435 million, with the option to exercise the purchase right starting January 1, 2027[80] Other Financial Metrics - The group incurred a foreign exchange gain of HKD 11,357,000 from the financial statements of overseas subsidiaries, contrasting with a loss of HKD 41,153,000 in 2022[133] - Cash and bank balances increased significantly to HKD 462,655,000 in 2023, up from HKD 301,362,000 in 2022, representing a growth of 53.5%[177] - The company has government subsidies of HKD 867,000 in 2023, a significant decrease from HKD 5,952,000 in 2022[192] Employee and Talent Management - The group supports a culture of attracting, motivating, and retaining talent, with competitive compensation and benefits based on market standards and individual performance[96]

Tristate Holdings Limited (Incorporated in Bermuda with limited liability) Interim Report Stock code: 458 Tristate Holdings Limited （於百慕達註冊成立之有限責任公司） 中期報告 2023 2023 股份代號: 458 混合產品 泵自负责任的 日林黄源的纸资 FSC FSC" C134852 本產品採用的材料來自良好管理的FSC™認證森林和其他受控來源▪ 目錄 公司資料 2 簡明綜合中期財務報表 簡明綜合中期損益表 3 簡明綜合中期全面收益表 3 簡明綜合中期財務狀況表 4 簡明綜合中期權益變動表 5 簡明綜合中期現金流量表 6 簡明綜合中期財務報表附註 7 管理層討論及分析 15 股東資料及企業管治 權益披露 19 購股權 20 企業管治守則 22 購買、出售或贖回上市證券 22 遵守標準守則 22 董事資料之變更 22 中期股息 22 暫停辦理股份過戶登記手續 22 審核委員會審閱財務報表 22 1 Tristate Holdings Limited 2023 中期報告 公司資 ...

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之內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不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 引致之任何損失承擔任何責任。 截至2023年6月30日止六個月之中期業績公告 2023年中期業績財務摘要 • 收入20.55億港元 • 權益股東應佔溢利7,400萬港元 • 每股盈利0.27港元 • 中期股息每股0.06港元 中期業績 Tristate Holdings Limited（「本公司」）董事會（「董事會」）欣然提呈本公司及其附屬公司（統稱「本集 團」）截至2023年6月30日止六個月之未經審核綜合中期業績連同2022年之比較數字。 簡明綜合中期損益表 截至2023年6月30日止六個月－未經審核 截至6月30日止六個月 2023年 2022年 附註 千港元 千港元 收入 4 2,055,381 1,625,005 銷售成本 (1,178,062) (992,440) 毛利 877,319 632,565 ...

Revenue and Profit Performance - Revenue for 2022 reached HKD 3,731,194,000, showing a significant increase compared to previous years[20] - Net profit attributable to shareholders in 2022 was HKD 30,772,000, a notable improvement from the losses in previous years[20] - C.P. Company's revenue grew by 15% in 2022, driven by strong performance in wholesale and e-commerce channels[29] - Spyder's revenue increased by a single-digit percentage in 2022 compared to 2021, despite challenges from COVID-19 lockdowns[25] - Nautica's revenue in 2022 decreased by 4% compared to 2021, with net losses widening due to reduced income and increased inventory provisions[30] - Reebok recorded a loss in its first year of operation in 2022, impacted by COVID-19 lockdowns and transition costs, with 15 stores in China by the end of the year[30] - Net profit attributable to equity shareholders increased to HK$31 million in 2022, up from HK$21 million in 2021[48] - C.P. Company, the company's own brand, continued to show significant growth in both revenue and profit[49] - Nautica's revenue in China saw a low single-digit decline in 2022 compared to 2021, but net losses increased due to reduced revenue, higher inventory provisions, and increased operating expenses[50] - Spyder's revenue in China grew by 7% in 2022 compared to 2021, despite challenges from COVID-19 lockdowns, with e-commerce and key northern markets showing year-on-year growth[56] - Total revenue for 2022 was HKD 3.731 billion, a 23% increase compared to HKD 3.038 billion in 2021[60] - Revenue from the apparel business reached HKD 1.939 billion, up from HKD 1.548 billion in 2021, but still below pre-COVID levels[61] - Revenue from high-end craftsmanship business increased by 29%, accounting for 76% of segment revenue (2021: 74%)[61] - Revenue from brand business in 2022 reached HKD 1.792 billion, a 20% increase compared to 2021, driven by strong growth in wholesale and e-commerce in major European countries[75] - Revenue from apparel business in 2022 was HKD 1.939 billion, a 25% increase from 2021, primarily due to higher revenue from key clients in the high-end manufacturing segment[75] - The company's equity shareholders' profit for 2022 was HKD 31 million, up from HKD 21 million in 2021, with significant growth in apparel business revenue and profit[76] - Revenue increased by 23% to HKD 3,731 million in 2022 compared to HKD 3,038 million in 2021[80] - Brand business revenue reached HKD 1.792 billion in 2022, up from HKD 1.489 billion in 2021[81] - The apparel segment's post-tax profit increased by 128% to HKD 196 million in 2022 from HKD 86 million in 2021[80] - The brand business's post-tax loss widened by 171% to HKD 160 million in 2022 from HKD 59 million in 2021[80] - Pre-tax profit for 2022 increased to 121,177 thousand HKD, up from 84,488 thousand HKD in 2021, reflecting a significant year-over-year growth[171] Gross Profit and Margin - Gross profit for 2022 was HKD 1.449 billion, with a gross margin of 38.8% (2021: HKD 1.225 billion, 40.3% gross margin)[62] - Gross profit rose by 18% to HKD 1,449 million in 2022 from HKD 1,225 million in 2021[80] - The company's gross margin decreased by 1.5 percentage points to 38.8% in 2022 from 40.3% in 2021[80] EBITDA and Segment Performance - EBITDA grew by 15% to HKD 424 million in 2022 from HKD 368 million in 2021[80] - The apparel segment's EBITDA surged by 101% to HKD 273 million in 2022 from HKD 136 million in 2021[80] Store Expansion and Retail Strategy - The company opened six directly operated retail stores and outlet stores for C.P. Company in high-end shopping streets across Europe[29] - Spyder expanded its presence in China to 58 stores by the end of 2022, up from 50 stores in 2021[56] - The company plans to expand its e-commerce platforms and invest in customer relationship management systems to enhance member services[66] - The company aims to focus on high-quality outlet stores and e-commerce channels for the Spyder brand, targeting China's growing snow sports and premium sportswear market[67] - The company plans to open more flagship stores for the Nautica brand and expand its presence in key outlet stores[67] - C.P. Company's revenue and profit continued to show substantial growth, with plans to expand product lines and open more direct retail stores in key European and Asian markets[75] - Cissonne, the company's premium women's fashion brand, expanded its e-commerce and direct retail presence in major Chinese cities, operating nine stores as of 2022[77] Impairment and Loss Provisions - Spyder made an impairment provision of HKD 31 million in 2022, down from HKD 40 million in 2021[25] - Spyder recorded a loss in 2022, with an impairment provision of HK$31 million (2021: HK$40 million) due to ongoing losses, including impairment of franchise rights and underperforming stores[56] Manufacturing Business Performance - The company's manufacturing business saw significant profit growth in 2022, driven by increased revenue from high-end customers and controlled factory costs[24] - The company's apparel manufacturing business saw a 25% increase in revenue in 2022 compared to the previous year, driven by higher revenue from premium craftsmanship clients and controlled factory costs[57] - The company's garment business primarily earns profits from cutting and manufacturing, with minimal impact from rising fabric costs[92] Financial Position and Liabilities - Total assets minus current liabilities stood at HK$1,851,086 thousand in 2022, compared to HK$1,523,776 thousand in 2021[45] - Non-current liabilities increased to HK$811,608 thousand in 2022 from HK$487,559 thousand in 2021[45] - The company's equity attributable to shareholders was HK$1,020,151 thousand in 2022, slightly down from HK$1,025,942 thousand in 2021[45] - Short-term bank loans increased to HKD 107 million as of December 31, 2022, compared to HKD 42 million in 2021[64] - Cash and bank balances decreased by 21% to HKD 301 million at the end of 2022 from HKD 379 million at the end of 2021[87] - The company's cash flow from financing activities decreased to 96,898 thousand HKD in 2022 from 108,549 thousand HKD in 2021[172] - Inventory increased by 408,405 thousand HKD in 2022, a significant rise from 152,260 thousand HKD in 2021[171] Foreign Exchange and Risk Management - The company uses forward foreign exchange contracts to manage significant foreign exchange risks arising from future commercial transactions, recognized assets, liabilities, and overseas business net investments[100] - The nominal amount of USD-denominated foreign exchange risk hedging increased to 276,957 thousand HKD in 2022 from 132,542 thousand HKD in 2021[154] - A 5% appreciation/depreciation of EUR against HKD would result in a post-tax profit decrease/increase of 707,000 HKD in 2022 (169,000 HKD in 2021)[156] - The company's foreign exchange risk hedging reserve showed a nominal amount of 42,420 thousand HKD for GBP in 2022, down from 79,128 thousand HKD in 2021[154] - The company's credit risk is primarily from trade receivables, with limited risk from cash, bank balances, and derivative financial assets[160] - The company's undiscounted contract cash outflow for forward foreign exchange contracts due within 12 months was 912,000 HKD in 2022, compared to a cash inflow of 3,484,000 HKD in 2021[187] - The company's post-tax profit and retained earnings would decrease by approximately 479,000 HKD if interest rates rose by 50 basis points[188] Accounting and Financial Policies - The company adopted a new accounting policy under HKFRS 15, which did not significantly impact the timing of revenue recognition[21] - The company's defined benefit plan liabilities for 2022 amounted to HKD 17,714 thousand, a decrease from HKD 20,129 thousand in 2021[130] - The company's long-service payment liabilities for 2022 were HKD 10,587 thousand, down from HKD 16,824 thousand in 2021[130] - The company's discount rate for defined benefit obligations ranged from 1% to 2% in 2022, compared to 1% to 5% in 2021[134] - A 0.50% increase in the discount rate would reduce the defined benefit obligation by 4.5%, while a 0.50% decrease would increase it by 4.0%[138] - A 0.50% increase in the salary growth rate would increase the defined benefit obligation by 1.7%, while a 0.50% decrease would reduce it by 2.5%[138] - The company's defined contribution plan requires both the company and employees to contribute 5% of the employee's salary, with forfeited contributions used to reduce future employer contributions[130] - The company's Taiwan subsidiary has a defined benefit retirement plan, with benefits calculated based on the average monthly salary of the last six months before termination of service[131] - The company's total equity adjustments for 2022 amounted to 37,410 thousand HKD, compared to 33,176 thousand HKD in 2021[141] - The fair value of each stock option granted in 2022 was 0.36 HKD, slightly lower than 0.37 HKD in 2021[151] - The company's authorized share capital remained at 500,000,000 shares with a par value of 0.10 HKD per share, totaling 50,000 thousand HKD[142] - The company's second-level fair value measurements showed no significant difference between book value and fair value of financial instruments[166] - The company's long-term employee benefit arrangement includes an 8,500,000 HKD advance, amortized over 12 years[170] - The fair value of share options granted in 2022 was 760,000 HKD, up from 674,000 HKD in 2021[180] Operational and Strategic Initiatives - The company will collaborate with Reebok Design Group to design and develop footwear and apparel, aiming to integrate street and sport styles[67] - The company expects its own brand C.P. Company and apparel business to continue contributing profits, despite macroeconomic challenges[67] - Reebok brand operations in Greater China began on May 1, 2022, following a two-month transition period, but the brand recorded a loss in its first year due to COVID-19 lockdowns and transition costs[74] - The company's unique production system and diversified manufacturing base in Asia helped mitigate rising labor costs and currency depreciation in 2022[71][75] - Reebok's operations in Greater China are focused on direct-to-consumer channels through single-brand stores and e-commerce, with plans to enhance brand heat and flagship products in the coming year[75] - The company implemented robust IT security measures, including firewalls, antivirus software, and daily off-site backups, to mitigate system failures and cyberattacks[73] - The company expects its own brand C.P. Company and apparel business to continue contributing profits and generating strong cash flow in the future, despite macroeconomic uncertainties[75] - The company maintains sufficient and reasonable RMB deposits in China and transfers surplus RMB out of the country[101] - The company has a diversified customer base across Europe, North America, and Asia, which helps mitigate regional economic risks[109] - The company's brand business conducts product procurement through its own purchasing team, with a dispersed supply network to manage cost increases[111] - The company actively seeks suppliers and regional production facilities in different countries to reduce reliance on a single location[115] - The company closely monitors market interest rate trends and considers using interest rate hedging when necessary[99] - The company conducts monthly rolling forecast reviews to compare annual budgets with actual and forecasted figures, performing variance analysis to understand discrepancies[109] - The company continuously monitors local government policies and legal changes to manage regulatory risks[109] - The company has a risk management mechanism in place to identify, assess, and manage risks, including environmental, social, and governance risks, with senior management regularly reporting to the audit committee[108] - The company maintains long-term relationships with clients and suppliers in the garment and brand product distribution business, with no over-reliance on individual clients or suppliers[121] - The company has implemented various environmental and sustainability measures in its factories, focusing on reducing carbon emissions, energy conservation, and waste reduction[122] - The company's board of directors consists of 8 members, including 1 executive director, 3 non-executive directors, and 4 independent non-executive directors[128] COVID-19 Impact and Relief - The company received 4,448 thousand HKD in COVID-19 related rent relief in 2022, compared to 1,790 thousand HKD in 2021[171] Related Party Transactions - The amount owed to related parties by the group as of December 31, 2022, was 1,587 thousand HKD, compared to 7,844 thousand HKD in 2021[196] - Interest expenses related to the amount owed to related parties for the year ended December 31, 2022, were (103) thousand HKD, compared to (233) thousand HKD in 2021[196] - Rent payments under the new lease agreement to TDB amounted to 6,360 thousand HKD in 2022, compared to 4,770 thousand HKD in 2021[196] - Rent payments under the previous lease agreement to TDB were 1,860 thousand HKD in 2021, with no payments recorded in 2022[196] Customer and Supplier Relationships - Accounts receivable and notes receivable from the top five customers accounted for 44% of total receivables in 2022, up from 30% in 2021[189] - The company entered into a new 3-year lease in 2022 with an annual rent of 793,000 HKD, which was not present in 2021[195] Depreciation and Asset Management - Depreciation of property, plant, and equipment decreased to 65,406 thousand HKD in 2022 from 76,382 thousand HKD in 2021[171]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完整性亦不發表任 何聲明，並明確表示，概不對因本公佈全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 2022年年度業績公佈 2022年年度業績之財務摘要 • 收入37.31億港元 • 權益股東應佔溢利3,100萬港元 • 每股盈利0.11港元 業績 Tristate Holdings Limited（「本公司」）之董事會（「董事會」）謹此提呈本公司及其附屬公司（統稱「本集 團」）截至2022年12月31日止年度之綜合業績並連同2021年之比較數字。 綜合損益表 截至2022年12月31日止年度 2022年 2021年 附註 千港元 千港元 收入 3 3,731,194 3,037,662 銷售成本 (2,282,219) (1,812,830) 毛利 1,448,975 1,224,832 其他虧損淨額 4 (18,613) (46,489) 銷售及分銷費用 (715,491) (586,909) 一般及管理費用 (532,818) (476,446) 經營溢利 5 182,053 114,988 ...