Financial Performance - Tristate Holdings Limited reported revenue of HKD 4,183,746,000 for 2024, a slight decrease of 0.75% from HKD 4,215,667,000 in 2023[9]. - The net profit attributable to equity shareholders was HKD 156,015,000, down 8.9% from HKD 171,232,000 in the previous year[9]. - The overall gross profit for the company was HKD 1.715 billion in 2024, down 4% from HKD 1.783 billion in 2023, with a gross margin of 41.0%[32]. - EBITDA for the company was HKD 580 million in 2024, a decrease of 4% from HKD 602 million in 2023[28]. - The company's cash flow from operations was HKD 410 million in 2024, down 31% from HKD 590 million in 2023[28]. - The group's net profit attributable to equity shareholders was HKD 156 million in 2024, down from HKD 171 million in 2023[22]. Business Segment Performance - The apparel business continued to show strong performance, benefiting from increased customer orders, leading to a robust revenue and profit contribution[9]. - Nautica's revenue decreased by 20% compared to the post-pandemic growth in 2023, prompting the brand to close underperforming stores[12]. - Spyder's revenue decreased by 10%, while Reebok's revenue fell by 19% in 2024 compared to the previous year[13]. - The group's brand business revenue was HKD 2.025 billion in 2024, a decrease of 11% from 2023, with net losses increasing[14]. - The apparel business generated revenue of HKD 2.158 billion, representing a 12% increase compared to 2023, contributing strong profits[15]. Operational Strategies - The company plans to further expand production capacity in Vietnam in 2025 to meet rising demand[9]. - The group plans to enhance brand awareness and expand customer base for C.P. Company despite a soft market outlook[16]. - The company aims to enhance brand awareness and expand customer base through marketing strategies and collaborations despite a soft market outlook[42]. - The company is focused on improving operational efficiency and controlling costs in response to challenges in the global economic environment[43]. Corporate Governance - The board of directors consists of eight members, including one executive director and four independent non-executive directors, ensuring a 50% independence ratio[59]. - The company has adhered to the Corporate Governance Code, with a deviation regarding the roles of the chairman and CEO being held by the same individual[54][57]. - The nomination committee evaluates the independence of non-executive directors annually, ensuring compliance with the listing rules[60]. - The board meets at least four times a year, with regular meetings scheduled quarterly[71]. Sustainability and Environmental Initiatives - The company aims to promote responsible production in the apparel industry, exceeding legal requirements to create long-term sustainable value for stakeholders[119]. - The company reported a commitment to sustainable development practices integrated across various operational areas, enhancing its business capabilities[119]. - The company emphasizes reducing carbon emissions and waste during production to promote sustainability[126]. - The company aims to reduce energy consumption density by 8%, water consumption density by 5%, and greenhouse gas emissions density by 9% by 2025, using 2021 as the baseline[140]. Employee and Community Engagement - The company emphasizes equal opportunities for both genders in recruitment, employee development, and promotion[68]. - The company invests in employee development through training programs covering industry knowledge and safety standards, continuously assessing learning needs[182]. - The company has established a confidential reporting policy to encourage employees to report unethical behavior, ensuring protection for whistleblowers[186]. - C.P. Company made donations to the Eleonora Cocchia Vivere a Colori ONLUS Association for cancer research and prevention efforts[189]. Risk Management and Compliance - The company has implemented a zero discharge of hazardous chemicals (ZDHC) wastewater guideline and conducts annual testing to ensure compliance with industry standards[168]. - The board monitors ESG-related risks and ensures strategies are effective and appropriate[131]. - The company has established mechanisms to ensure independent opinions are considered in board decisions, with independent directors actively participating in meetings[60]. - The company maintains a zero-tolerance policy towards corruption and fraud, adhering to applicable anti-corruption laws and providing clear guidelines for employees[185][187].

Financial Performance - Revenue for the year ended December 31, 2024, was HKD 4,183,746, a slight decrease from HKD 4,215,667 in 2023, representing a decline of approximately 0.76%[3] - Profit attributable to equity shareholders was HKD 156,015, down from HKD 171,232 in 2023, reflecting a decrease of about 8.9%[4] - Basic and diluted earnings per share were both HKD 0.57, compared to HKD 0.63 in the previous year, indicating a decline of approximately 9.5%[3] - The total comprehensive income for the year was HKD 120,336, a decrease from HKD 184,550 in 2023, representing a decline of about 34.8%[5] - The group’s annual profit for 2024 was HKD 162,939 thousand, compared to HKD 180,173 thousand in 2023, reflecting a decrease of about 9.5%[18] - Total revenue for 2024 was HKD 4,183,746,000, a slight decrease from HKD 4,215,667,000 in 2023[22] - Revenue from China was HKD 1,193,708,000 in 2024, down from HKD 1,358,669,000 in 2023, representing a decrease of approximately 12.1%[22] - The overall gross profit was HKD 1.715 billion in 2024, down from HKD 1.783 billion in 2023, resulting in a gross margin of 41.0%[51] Dividends - The company declared a final dividend of HKD 0.17 per share[4] - The company declared a proposed final dividend of HKD 0.17 per share for 2024, down from HKD 0.19 per share in 2023[32] - The total dividend for the year will amount to HKD 0.23 per share, compared to HKD 0.25 in 2023[80] - The company declared an interim dividend of HKD 0.06 per share for 2024, consistent with 2023[79] Assets and Liabilities - Non-current assets decreased to HKD 1,191,504 from HKD 1,272,954 in 2023, a reduction of approximately 6.4%[6] - Current assets decreased to HKD 1,784,754 from HKD 1,843,724 in 2023, reflecting a decline of about 3.2%[6] - Total liabilities decreased to HKD 743,355 from HKD 804,497 in 2023, indicating a reduction of approximately 7.6%[6] - The company's net assets increased to HKD 1,255,923 from HKD 1,205,058 in 2023, representing an increase of about 4.2%[6] - The group’s total assets decreased to HKD 2,976,258 thousand in 2024 from HKD 3,116,678 thousand in 2023, a decline of about 4.5%[20] - Total liabilities for the group decreased to HKD 1,720,335 thousand in 2024 from HKD 1,911,620 thousand in 2023, a reduction of approximately 10.0%[20] Segment Performance - The group reported segment revenue for the Apparel division of HKD 2,350,053 thousand in 2024, up from HKD 2,036,739 thousand in 2023, representing an increase of approximately 15.4%[18] - The Brand business segment revenue decreased to HKD 2,025,773 thousand in 2024 from HKD 2,283,328 thousand in 2023, a decline of about 11.3%[18] - The group’s EBITDA for the Apparel segment increased to HKD 317,317 thousand in 2024 from HKD 279,595 thousand in 2023, an increase of around 13.5%[18] - The Brand segment reported an EBITDA of HKD 224,547 thousand in 2024, down from HKD 303,904 thousand in 2023, a decrease of approximately 26.1%[18] Impairments and Losses - The company reported a net loss of HKD 24,543,000 from impairment of property, plant, and equipment in 2024, compared to a loss of HKD 6,176,000 in 2023[28] - The company recorded a net impairment loss of HKD 25 million on property, plant, and equipment, a significant increase from HKD 6 million in 2023[52] Cash Flow and Financing - Cash flow from operations decreased by 31% to HKD 410 million in 2024[47] - Financing income increased to HKD 3,853,000 in 2024 from HKD 3,516,000 in 2023, reflecting a growth of approximately 9.6%[30] - The total tax expense for 2024 was HKD 83,717,000, compared to HKD 67,244,000 in 2023, indicating an increase of about 24.6%[30] Strategic Initiatives - The company plans to enhance its e-commerce performance by taking over its online platform from third-party partners starting May 2024[42] - The company plans to expand its production capacity in Vietnam in 2025 to meet rising demand[46] - The company is reviewing its franchise brand portfolio and may adjust its business strategy for Reebok[45] - The company aims to enhance brand awareness and expand customer base through marketing strategies and collaborations, focusing on existing wholesale markets and further expanding distribution networks in Europe and overseas[61] Risk Management - The group has established a corporate risk management mechanism to identify, assess, and manage risks, including environmental, social, and governance risks[63] - Key risks include macroeconomic environment, rising costs, and changes in business partner strategies, which could impact operations and financial stability[64] - The group actively monitors local government policies and regulatory changes to mitigate risks associated with legal and tax regulations[66] Governance and Compliance - The company has adhered to the principles of the Corporate Governance Code, with a noted deviation regarding the roles of the Chairman and CEO[75] - The company’s financial statements for the year ending December 31, 2024, have been reviewed by the audit committee alongside the management[74] - The group emphasizes a culture of attracting, motivating, and retaining talent, offering competitive compensation and benefits[70] Employee and Social Responsibility - The group employed approximately 6,530 staff as of December 31, 2024, an increase from 6,370 in 2023, with competitive compensation and benefits provided[60] - The company has been participating in various charitable activities, including donations to the Salvation Army, reflecting its commitment to social responsibility[72]

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].

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 1.926 billion, a decrease from HKD 2.055 billion in the same period of 2023, representing a decline of approximately 6.3%[2] - Profit attributable to equity shareholders for the same period was HKD 63.9 million, down from HKD 78.1 million in 2023, reflecting a decrease of about 18.1%[2] - Basic and diluted earnings per share for the period were HKD 0.23, compared to HKD 0.27 in the previous year, indicating a decline of approximately 14.8%[2] - Total comprehensive income for the period was HKD 25.978 million, significantly lower than HKD 71.953 million in 2023, marking a decrease of around 63.9%[3] - The company reported a pre-tax profit of HKD 97,141,000 for the total segments in 2024, down from HKD 114,985,000 in 2023, reflecting a decrease of approximately 15.5%[8] - The company’s net profit for the period was HKD 63,903,000 in 2024, compared to HKD 78,105,000 in 2023, indicating a decrease of approximately 18.2%[8] - The total tax expense for the six months ended June 30, 2024, was HKD 33,238,000, slightly down from HKD 36,880,000 in 2023, reflecting effective tax management[20] Assets and Liabilities - Non-current assets as of June 30, 2024, totaled HKD 583.854 million, a slight decrease from HKD 587.387 million at the end of 2023[4] - Current assets were HKD 1.252 billion, down from HKD 1.273 billion at the end of 2023, reflecting a decrease of approximately 1.7%[4] - Current liabilities amounted to HKD 1.124 billion, an increase from HKD 1.107 billion at the end of 2023, indicating a rise of about 1.5%[4] - The net asset value as of June 30, 2024, was HKD 1.178 billion, down from HKD 1.205 billion at the end of 2023, representing a decrease of approximately 2.2%[4] - The total assets for the reporting segments amounted to HKD 3,076,563,000 as of June 30, 2024, compared to HKD 3,116,678,000 at the end of 2023, indicating a decrease of about 1.3%[10] - The total liabilities for the reporting segments were HKD 1,898,913,000 in 2024, a slight decrease from HKD 1,911,620,000 in 2023, reflecting a reduction of approximately 0.7%[10] Revenue Breakdown - Revenue from China for 2024 was HKD 580,312,000, down from HKD 638,816,000 in 2023, marking a decline of about 9.1%[12] - The revenue from the brand business was HKD 952,806,000 in 2024, a decrease from HKD 1,128,652,000 in 2023, representing a decline of about 15.6%[8] - Nautica's revenue decreased by 20% in the first half of 2024, while Reebok's revenue fell by 17% due to weak consumer demand and ongoing brand restructuring[38] - The apparel segment generated revenue of HKD 974 million, an increase of 5% from HKD 927 million in the first half of 2023, with advanced manufacturing business revenue rising by 15%[38] Expenses and Costs - Operating profit for the six months ended June 30, 2024, was impacted by employee costs totaling HKD 373,354,000, an increase of 3.3% from HKD 359,317,000 in 2023[18] - Financing costs for the brand business increased to HKD 628,000 in 2024 from HKD 256,000 in 2023, indicating a significant rise in financing expenses[8] - Financing costs for the six months ended June 30, 2024, amounted to HKD 30,383,000, a decrease from HKD 32,617,000 in the same period of 2023[19] - Selling and distribution expenses decreased due to reduced commissions and store costs following the optimization of Nautica's store network[41] - General and administrative expenses were lower compared to the first half of 2023, attributed to increased foreign exchange gains and cost control measures[42] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.06 per share for the period[2] - The interim dividend declared was HKD 0.06 per share, consistent with the previous year, resulting in total dividends of HKD 16,356,000 for the six months ended June 30, 2024[23] Strategic Initiatives and Market Position - The company has applied new and revised Hong Kong Financial Reporting Standards during the reporting period, but these changes did not impact the financial performance or position significantly[6] - The company has entered into a share option agreement to acquire a 45% stake in MO IP Srl for EUR 3,435,000, equivalent to HKD 5,924,000, indicating strategic expansion efforts[24] - The company has established eight directly operated retail stores for C.P. Company in major cities in China, including Beijing and Shanghai, as part of its market expansion strategy[33] - The company has entered into a 10-year franchise agreement to use certain trademarks related to the MASSIMO OSTI brand, with an option to acquire 45% of the issued share capital of MO IP Srl for EUR 3,435,000 if exercised within the specified period[32] - The company plans to enhance brand visibility and long-term value through increased marketing spending for C.P. Company in the first half of 2024[32] - The company expects a stronger performance in the second half of the year due to seasonal demand for apparel and brand products[38] - The company plans to expand its e-commerce presence and open more direct retail stores in major European markets[47] - The company aims to enhance brand image and sales for its licensed brands, Nautica and Spyder, despite recent weak consumer demand[47] - The company is focused on operational efficiency, brand innovation, and product optimization to strengthen competitiveness and create long-term value[47] - The company has sufficient cash and available bank credit facilities to support operational funding needs[47] - The company will continue to streamline operations and improve production efficiency through automation to maintain competitiveness in the garment business[47] Governance and Leadership - The board consists of one executive director, Wang Jianzhong, and three non-executive directors, including Wang Gu Yizhen, Mai Wang Yongyi, and Wang Suizhong, along with four independent non-executive directors[53] - The announcement date is August 26, 2024, indicating the company's ongoing governance structure[53] - The company is led by Chairman and CEO Wang Jianzhong, highlighting leadership continuity[53] - The board composition reflects a diverse range of expertise with both executive and independent members[53] - The presence of independent directors suggests a commitment to corporate governance and accountability[53] - The company is positioned for strategic decision-making with a well-rounded board[53] - The announcement does not provide specific financial metrics or performance indicators for the current period[53] - Future outlook and strategic initiatives are not detailed in the provided content[53] - No information on new products, technologies, market expansion, or acquisitions is available in the document[53] - The focus remains on board structure and governance rather than financial performance or market strategies[53]

Employee Statistics and Training - The total number of employees is categorized by gender, employment type (full-time or part-time), age group, and region[1] - Employee turnover rate is reported by gender, age group, and region[1] - The percentage of employees trained is categorized by gender and employee type (e.g., senior management, middle management)[1] - The average training hours completed per employee are reported, categorized by gender and employee type[1] Safety and Health - The number of work-related fatalities and the corresponding rate over the past three years, including the reporting year, is documented[1] - The number of workdays lost due to work-related injuries is provided[1] Corporate Governance - The board currently has a female representation of approximately 38%[10] - The audit committee held three meetings during the year ending December 31, 2023, focusing on the independence and performance of external auditors[20] - The internal audit department conducts ongoing independent assessments of the group's risk management and internal control systems[26] - The board has adopted a standard code as written guidelines regarding employee trading of the company's securities[29] - The board is responsible for overseeing the company's environmental, social, and governance (ESG) strategies and reporting, ensuring effective risk management[48] - The board has reviewed the adequacy of the risk management and internal control systems, confirming their effectiveness[55] - The board has established a policy to handle insider information, ensuring compliance with applicable laws and regulations[55] Sustainability and Environmental Initiatives - The company emphasizes the importance of sustainability in its operations, aiming to meet the high expectations of international brand clients regarding supply chain sustainability[46] - The company is committed to enhancing stakeholder engagement to better understand their needs and expectations[45] - The company is focused on expanding its ESG measures to improve its sustainable development capabilities[40] - The company is committed to sustainable development principles across all business units, integrating environmental, social, and governance measures into operations[66] - The company actively engages with stakeholders to understand their concerns and expectations, which is crucial for its sustainable development[77] - The company aims to enhance resource efficiency by managing internal monitoring across major environmental areas to reduce emissions[104] - The company has implemented energy-saving measures, including the deactivation of two transformers in the Hefei factory to reduce energy consumption[108] - The company is focused on improving the insulation of steam pipelines and valves to minimize energy loss to the environment[111] - The company has upgraded to variable frequency cooling units, which maintain reliable operation while reducing annual energy consumption[112] - The internal audit department reviews collected environmental data to ensure reliability and compliance with local regulations[114] - The company seeks to reduce water consumption by changing employee behavior and maintaining hardware facilities[117] - The company encourages the use of renewable energy and energy-efficient products in its properties and offices[104] - The company has implemented a carbon reduction operational model to align with global sustainability trends and meet increasing expectations from customers and investors[161] - The company has been assessing its greenhouse gas emissions since 2018, adopting guidelines for quantifying emissions based on the Hong Kong Environmental Protection Department's standards[162] Financial Performance and Projections - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[144] - User data showed a rise in active users to 1.2 million, marking a 15% increase year-over-year[144] - The company provided an optimistic outlook, projecting a revenue growth of 25% for the next fiscal year, aiming for $625 million[144] - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[144] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[144] - A strategic acquisition of a smaller competitor is anticipated to enhance the company's product offerings and increase market competitiveness[144] - Research and development investments have increased by 30%, totaling $15 million, to drive innovation in product development[144] - The company plans to implement cost-cutting measures aimed at reducing operational expenses by 5% over the next year[144] - Customer satisfaction ratings improved to 90%, reflecting the effectiveness of recent service enhancements[144] Dividends and Shareholder Information - The total dividend for the year will amount to HKD 0.25 per share, which includes an interim dividend of HKD 0.06 per share paid on September 29, 2023[148] - The company plans to pay the final dividend on July 16, 2024, pending shareholder approval at the upcoming annual general meeting[148] - As of December 31, 2023, the company's reserves were HKD 448,741,000, compared to HKD 448,649,000 in 2022, while retained earnings increased to HKD 657,433,000 from HKD 554,819,000 in 2022[148] Community and Social Responsibility - The group made charitable donations totaling HKD 178,000 in 2023, a decrease from HKD 565,000 in 2022[90] - The company focuses on community investment in areas such as education, health, and environmental issues[140] Compliance and Ethical Standards - The company has implemented policies to prevent child labor and forced labor, ensuring compliance with relevant laws and regulations[139] - The company has established measures to identify environmental and social risks in each segment of the supply chain[140] - The company has policies in place to ensure consumer data protection and privacy[140] - The company has not recorded any cases of bribery, extortion, fraud, or money laundering during the reporting period[140] - The company emphasizes the importance of anti-corruption training for its directors and employees[140] - The company has established a zero-tolerance policy towards corruption and fraud, adhering to relevant anti-corruption laws[196] - The company expects suppliers to consider environmental factors and adopt fair recruitment practices[198] - The company complies with international standards such as SRCCS and RDS for sustainable practices and animal welfare[199][200] Energy Consumption and Emissions - Energy consumption per standard unit in Hefei, China decreased by 19.18% from 20.1712 kWh to 16.3030 kWh[84] - Energy consumption per standard unit in Panyu, China (Factory 1 and 2) decreased by 6.57% from 13.2730 kWh to 12.4007 kWh[84] - Energy consumption per standard unit in Thailand increased by 7.95% from 9.4591 kWh to 10.2107 kWh[84] - Overall energy consumption per standard unit across the reported factories decreased by 6.47% from 13.76 kWh to 12.8695 kWh[84] - The company implemented a new cooling system in the Panyu factory to enhance energy efficiency by partially recovering waste steam[84] - The company reduced corridor lighting by half in the Vietnam factory to avoid excessive illumination[85] - The company installed insulation layers on the rooftops of the Panyu factory and planted vegetation to reduce air conditioning needs and energy consumption[86] - The company installed solar light tubes in the Hefei factory to utilize natural sunlight for indoor lighting[87] - The company achieved a water consumption reduction of 17.85% in its Hefei facility, with a consumption rate of 0.1841 cubic meters per standard piece compared to 0.2241 in 2021[157] - The total water consumption for 2023 was 279,696 cubic meters, an increase of 4.3% from 266,782 cubic meters in 2022[176] - The water consumption density for the headquarters increased to 10.62 cubic meters per employee in 2023, up from 9.28 cubic meters in 2022, indicating a rise of 14.4%[176] - Direct greenhouse gas emissions for 2023 totaled 3,315.46 tons CO2 equivalent, an increase of 5.4% from 3,146.06 tons in 2022[180] - The emissions from the Panyu plant in China increased to 1,410.44 tons CO2 equivalent in 2023, up 19.5% from 1,180.49 tons in 2022[180] - The company replaced old diesel boilers in the Panyu and Thailand plants with natural gas and liquefied petroleum gas boilers to reduce emissions[165] - The company implemented a real-time monitoring system for wastewater discharge points to ensure compliance with new municipal regulations[175] - The company adopted the Zero Discharge of Hazardous Chemicals (ZDHC) wastewater guidelines and conducts annual testing to meet industrial standards[165] - Total greenhouse gas emissions for 2023 were 8,798.14 tons CO2 equivalent, a decrease of 2.98% from 9,068.61 tons in 2022[163] - The carbon emissions density for the headquarters decreased to 0.95 tons CO2 equivalent per employee in 2023, down from 1.13 tons in 2022, representing a reduction of 15.9%[163] - Greenhouse gas performance improved by 20.64% in Hefei, China, with CO2 emissions per standard piece reduced to 7.279 kg from 9.172 kg in 2021[183] - Total CO2 emissions per standard piece across facilities decreased by 11.38%, from 5.290 kg in 2021 to 4.688 kg in 2023[183] - The company has implemented a waste fabric recycling program in Panyu and Thailand since 2020, expanding to Hefei and Vietnam in 2021[185] - The production process does not involve dyeing, resulting in minimal harmful waste generation[186]

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]

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 2,055,381 thousand, an increase from HKD 1,625,005 thousand in the same period of 2022, representing a growth of 26.4%[32] - Gross profit for the same period was HKD 877,319 thousand, compared to HKD 632,565 thousand in 2022, reflecting a gross margin improvement from 38.9% to 42.7%[32] - Operating profit increased significantly to HKD 146,614 thousand, up from HKD 46,230 thousand in the prior year, marking a growth of 216.5%[32] - Profit before tax rose to HKD 114,985 thousand, compared to HKD 19,923 thousand in the previous year, indicating a substantial increase of 476.5%[32] - Net profit for the period was HKD 78,105 thousand, a turnaround from a loss of HKD 14,649 thousand in the same period last year[32] - Basic and diluted earnings per share for the period were HKD 0.27, compared to a loss per share of HKD 0.07 in the prior year[32] - Total comprehensive income for the period amounted to HKD 71,953 thousand, compared to HKD 63,123 thousand in the previous year[32] - EBITDA for the reporting segments was HKD 276,832, compared to HKD 149,754 in the previous year, indicating a significant increase of about 84.9%[85] - The profit before tax for the reporting segments was HKD 114,985, up from HKD 19,923 in 2022, reflecting a substantial rise of approximately 476.5%[85] Assets and Liabilities - Non-current liabilities as of June 30, 2023, were HKD 816,250 thousand, slightly up from HKD 811,608 thousand at the end of 2022[38] - The company's total equity increased to HKD 1,111,884 thousand from HKD 1,039,478 thousand at the end of 2022, reflecting a growth of 6.9%[38] - As of June 30, 2023, total assets amounted to HKD 1,716,224 thousand, a decrease from HKD 1,754,825 thousand as of December 31, 2022, representing a decline of approximately 2.2%[39] - Total liabilities decreased to HKD 1,098,392 thousand from HKD 1,225,123 thousand, a reduction of about 10.4%[39] - The company's non-current assets totaled HKD 1,310,302 thousand, slightly down from HKD 1,321,384 thousand, a decrease of approximately 0.8%[39] - The company's total equity increased to HKD 1,111,884 thousand as of June 30, 2023, up from HKD 1,039,478 thousand at the beginning of the year, representing an increase of approximately 6.9%[53] - Cash and bank balances decreased to HKD 240,110 thousand from HKD 301,362 thousand, a decline of about 20.4%[39] - The group’s total bank loans as of June 30, 2023, were HKD 75,468,000, a decrease of 29.4% from HKD 107,008,000 as of December 31, 2022[126] Inventory and Receivables - The company's inventory decreased to HKD 783,162 thousand from HKD 854,170 thousand, reflecting a reduction of about 8.3%[39] - Accounts receivable increased significantly to HKD 622,727 thousand from HKD 492,049 thousand, marking an increase of approximately 26.6%[39] - The total inventory as of June 30, 2023, was HKD 783,162,000, a decrease of 8.3% from HKD 854,170,000 as of December 31, 2022[120] - Accounts receivable as of June 30, 2023, totaled HKD 622,727,000, compared to HKD 492,049,000 as of December 31, 2022, indicating an increase of approximately 26.5%[81] Market and Business Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[31] - The company anticipates higher sales revenue in the second half of the year due to seasonal demand for its apparel and brand products[68] - The company plans to focus investments on high-quality retail and e-commerce channels for Spyder, targeting the growing snow sports market in China[152] - The company plans to enhance Reebok's brand presence and expand e-commerce and retail store concepts[174] - The company plans to expand its product range for the C.P. Company brand to drive revenue and enhance market positioning, focusing on key wholesale markets including the UK, Italy, France, and South Korea[193] Employee and Operational Costs - The company’s employee costs and benefits increased to HKD 359,317,000 in 2023 from HKD 327,118,000 in 2022[69] - General and administrative expenses increased by 2% in the first half of 2023, primarily due to business growth and higher foreign exchange losses[149] - Employee benefits expenses payable amounted to HKD 11,252,000 for the six months ended June 30, 2023, an increase of 9.3% from HKD 10,292,000 for the same period in 2022[112] Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.06 per share for the six months ended June 30, 2023, totaling approximately HKD 16,296,000, compared to no dividend in 2022[185] - The expected dividend yield is 4.97%, with an expected volatility of 51.95% and a risk-free annual interest rate of 3.506%[181] - As of June 30, 2023, the company has a total of 271,607,253 shares issued, with Silver Tree Holdings Inc. owning 182,577,000 shares, representing approximately 67.3% of the total issued shares[179] - Major shareholder New Perfect Global Limited holds approximately 67.22% of the issued share capital as of June 30, 2023[199] Corporate Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code, except for deviations regarding the roles of the Chairman and CEO, which are held by the same individual[185] - The company’s audit committee reviewed the unaudited condensed consolidated interim financial statements for the six months ended June 30, 2023[185] - The Chairman and CEO, Mr. Wang Jianzhong, has been with the group since 1999 and has significant experience in the garment industry[185] - The company has not disclosed any changes in director information since the publication of the 2022 annual report[185] Operational Highlights - The company opened six directly operated retail and outlet stores in key European cities to support wholesale business growth[162] - The company experienced a positive cash flow from operations in the first half of 2023, contrasting with cash outflows in the same period of 2022 due to initial inventory purchases for Reebok[150] - The overall loss in the brand business decreased during the reporting period, with notable improvements in Nautica's performance[193] - The company maintains sufficient bank financing to support its operations, with a clear distribution channel strategy and promotional plans for its brands[193]

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 ...