Financial Performance - The loss attributable to owners of the Company for the six months ended June 30, 2023, was HK$48,804,000, compared to a loss of HK$20,138,000 for the same period in 2022[2]. - The Group's revenue for the six months ended June 30, 2023, was approximately HK$295.3 million, a decrease of 32.8% compared to HK$439.6 million for the same period in 2022, primarily due to the ongoing impact of the pandemic[53][56]. - The Group's total comprehensive income for the period was a loss of HK$50,237,000, which includes an exchange difference on translation of foreign operations of HK$1,433,000[163]. - The company reported a net loss of HK$48,804,000 for the six months ended June 30, 2023, compared to a loss of HK$20,138,000 for the same period in 2022[160]. - The total comprehensive loss for the period was HK$49,325,000, compared to a loss of HK$19,015,000 in the same period of 2022[150]. Revenue Breakdown - Revenue from the media entertainment platform related products segment decreased by 17.7% compared to the six months ended June 30, 2022, amounting to approximately HK$53.6 million (six months ended June 30, 2022: HK$65.1 million)[25]. - Revenue from the other multimedia products segment decreased by 18.9% to approximately HK$49.8 million compared to HK$61.5 million for the six months ended 30 June 2022[29]. - Revenue from satellite TV equipment and antenna products was approximately HK$191.9 million, down from HK$313.0 million for the six months ended 30 June 2022, representing a decline[33]. - Revenue from Asia decreased by 57.7% to approximately HK$43.8 million compared to HK$103.5 million for the six months ended 30 June 2022[35]. - Revenue from North America for the six months ended June 30, 2023 was approximately HK$184.2 million, a 24.8% decrease compared to HK$245.0 million for the same period in 2022[37]. Operational Changes and Strategies - The Group is exploring opportunities to enhance investment returns from its factory buildings in Zhongshan, PRC, through redevelopment into a precision intelligent manufacturing center[11]. - A joint venture agreement was entered into with Guangdong Huasuan International Industrial Park Investment Development Co., Ltd. for the purpose of redevelopment[11]. - The Group continues to adopt a prudent approach in managing cash flows and seeks business opportunities in emerging markets[8]. - The Group has been outsourcing production to suppliers in Vietnam since 2018, gradually closing its manufacturing facilities in Zhongshan, China, to enhance investment returns[20]. - The Group's research and development team is working on new products at its research center in Hsinchu, Taiwan, aiming to capitalize on market trends in 5G technology[18]. Financial Position and Liquidity - As of June 30, 2023, the Group's total borrowings were approximately HK$420.9 million, an increase from HK$370.5 million as of December 31, 2022[75]. - The Group's cash and cash equivalents as of June 30, 2023, were approximately HK$186.6 million, compared to HK$79.2 million as of December 31, 2022[73][77]. - The current ratio as of June 30, 2023, was 0.79, slightly improved from 0.74 as of December 31, 2022[74][77]. - The Group's financial position raises significant doubt about its ability to continue as a going concern[172]. - The Directors believe the Group can renew existing bank loans upon expiry based on good relationships with major banks[174]. Shareholder and Capital Structure - A rights issue was proposed on March 27, 2023, on the basis of three rights shares for every two shares in issue, which was completed on July 5, 2023, to strengthen the Group's financial position and improve liquidity[19]. - The shareholding structure changed significantly post-Rights Issue, with First Steamship's shareholding increasing from 25.39% to 38.52%[43]. - The total number of shares increased from 492,161,490 before the Rights Issue to 1,230,403,725 after completion[43]. - The Company proposed to issue 738,242,235 Rights Shares at a subscription price of HK$0.12 per Rights Share to raise approximately HK$88.6 million before expenses[41]. - The Rights Issue was completed on 5 July 2023, with net proceeds of approximately HK$84.6 million after deducting relevant expenses[41]. Corporate Governance and Compliance - The Audit Committee reviewed the unaudited condensed consolidated financial statements and confirmed they were prepared in accordance with applicable accounting standards[145]. - The company has emphasized good corporate governance practices to enhance shareholder value and ensure long-term benefits[136]. - There were no incidents of non-compliance regarding securities transactions by Directors during the six months ended June 30, 2023[138]. - The company maintained the prescribed public float under the Listing Rules as of the date of the interim report[140]. - The financial statements have been prepared in accordance with Hong Kong Accounting Standards and the Listing Rules[170]. Future Outlook - The Group continues to focus on enhancing its product offerings and expanding its market presence through strategic initiatives[200]. - The management remains optimistic about future growth prospects, driven by innovation and market demand[200]. - The Group's performance metrics will be closely monitored to ensure alignment with strategic objectives and market conditions[200]. - The company plans to focus on its businesses in Asia, Europe, and North America for future growth[37]. - The Group is developing new 5G related products, including next-generation radio frequency and antenna products, in response to anticipated business opportunities in the 5G and IoT markets[18].

Financial Performance - The Group recorded a decrease in gross profit ratio from 13.08% in 2021 to 10.68% in 2022 due to increased material costs and global shortages[7]. - The Group's loss before finance costs and income tax was HK$23,070,000 in 2022, compared to a profit of HK$30,554,000 in 2021[7]. - Revenue for the year ended 31 December 2022 was approximately HK$746.0 million, representing a decrease of 19.5% compared to approximately HK$926.5 million for the year ended 31 December 2021[49]. - Loss attributable to owners of the Company was approximately HK$77.5 million for the year ended 31 December 2022, compared to a loss of approximately HK$25.4 million for the year ended 31 December 2021[49]. - Basic loss per share for the year ended 31 December 2022 was HK15.67 cents, compared to HK6.32 cents for the year ended 31 December 2021[49]. - The Group's finance costs for the year ended 31 December 2022 were approximately HK$28.2 million, compared to approximately HK$28.1 million for the year ended 31 December 2021[49]. - Income tax expense for the year ended 31 December 2022 was approximately HK$12.7 million, compared to HK$9.8 million for the year ended 31 December 2021[49]. - The Group incurred a net loss of HK$77,548,000 attributable to owners of the Company for the year ended 31 December 2022[34]. Revenue Breakdown - Revenue from the media entertainment platform related products segment decreased by 20.97% to approximately HK$92,890,000 in 2022, with segment results declining by 124.59%[7]. - The other multimedia products segment's revenue fell by 50.97% to approximately HK$133,311,000, with segment results decreasing by 67.91%[9]. - Revenue from the satellite TV equipment and antenna products segment was approximately HK$519,753,000, a slight decrease of 3.22% compared to 2021, while segment results decreased by 26.72%[13]. - Revenue from Asia for the year ended 31 December 2022 was approximately HK$172,297,000, representing a 48.15% increase compared to HK$116,297,000 for the year ended 31 December 2021[17]. - Revenue from Europe for the year ended 31 December 2022 was approximately HK$65,982,000, reflecting a 47.31% decrease from HK$125,236,000 for the year ended 31 December 2021[17]. - Revenue from North America for the year ended 31 December 2022 was approximately HK$447,901,000, a 28.49% decrease compared to HK$626,389,000 for the year ended 31 December 2021[21]. - Revenue from South America for the year ended 31 December 2022 was approximately HK$46,827,000, showing a 14.43% growth from HK$40,922,000 for the year ended 31 December 2021[21]. - Revenue from the Middle East for the year ended 31 December 2022 was approximately HK$11,289,000, indicating a 30.46% drop from HK$16,234,000 for the year ended 31 December 2021[17]. Financial Position and Liquidity - As of 31 December 2022, the Group's current liabilities exceeded its current assets by HK$178,964,000, indicating a material uncertainty regarding the Group's ability to continue as a going concern[34]. - The current ratio of the Group decreased to 0.74 in 2022 from 0.99 in 2021, indicating a decline in liquidity[57]. - The Group's total cash and cash equivalents as of December 31, 2022, were HK$79.2 million, down from HK$111.4 million in 2021[57]. - Total borrowings as of December 31, 2022, were approximately HK$370.5 million, a decrease from HK$390.9 million in 2021[57]. - The gearing ratio increased from 38.43% in 2021 to 42.73% in 2022, reflecting a higher level of debt relative to total assets[57]. Corporate Governance - The Company has maintained directors' liability insurance throughout the year, providing appropriate cover for the Directors[133]. - The Group has complied with all mandatory disclosure requirements and code provisions of the Corporate Governance Code for the year ended December 31, 2022[120]. - The Company emphasizes the importance of good corporate governance to enhance shareholder value and ensure long-term benefits[120]. - The Board has adopted a policy to obtain independent views and input, ensuring independent professional advice is available when necessary[178]. - The Company has arranged appropriate insurance coverage for Directors and officers' liabilities, which is reviewed annually[115]. Audit and Compliance - The consolidated financial statements were prepared in compliance with Hong Kong Financial Reporting Standards and provide a true and fair view of the Group's financial position[31]. - The audit was conducted in accordance with Hong Kong Standards on Auditing, ensuring the independence of the auditors[34]. - The audit opinion was not modified despite the material uncertainty related to going concern[34]. - The Audit Committee monitors the integrity of the Company's financial statements and annual reports[151]. - The Audit Committee held 4 meetings during the year ended December 31, 2022, to review annual results and risk management policies[155]. Business Strategy and Future Plans - The Group is exploring new business opportunities and enhancing its product portfolio to meet changing customer demands[9]. - The company plans to focus on exploring new business opportunities in Asia and South America due to their strong performance[21]. - The Group's future plans for material investments are contingent upon obtaining necessary approvals and resolving outstanding matters related to the redevelopment[91]. - The Group is sourcing from suppliers outside the PRC to mitigate the impact of increased freight charges and material costs[9][15]. Employee and Workforce Information - The Group employed a total of 669 full-time employees as of December 31, 2022, a decrease from 700 in 2021[81]. - The gender ratio in the workforce for the year ended December 31, 2022, is Male:Female = 5.5:4.5[178]. - The company appointed Ms. Chen Wei-Hui as an independent non-executive Director, achieving gender diversity on the Board[175]. Risk Management - The Group's expected credit losses (ECLs) for loans to associates were measured using a 12-month ECL approach, reflecting a proactive credit risk management strategy[62]. - The Company emphasizes maintaining and enhancing the effectiveness of its internal control system[192]. - Compliance with applicable laws and regulations by each business unit is monitored[191].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告的內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本 公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 Sandmartin International Holdings Limited 聖馬丁國際控股有限公司* （於百慕達註冊成立的有限公司） （股份代號：482） 截至二零二二年十二月三十一日止年度 全年業績公告 財務摘要 • 本集團於本年度收益為746,000,000港元 • 本集團於本年度經扣除融資成本、所得稅支出、折舊、攤銷及撥回預付租 賃款項前虧損為23,100,000港元 • 本年度虧損為80,500,000港元 • 本公司擁有人應佔本年度虧損為77,500,000港元 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous year[2]. - Revenue for the year ended 31 December 2021 was approximately HK$926.5 million, representing an increase of 7.3% compared to approximately HK$863.6 million for the year ended 31 December 2020[49]. - Loss attributable to owners of the Company for the year ended 31 December 2021 was approximately HK$25.4 million, compared to a loss of approximately HK$12.6 million for the year ended 31 December 2020[49]. - The Group's profit margins have declined due to increased material costs, including copper, aluminum, and plastic, amid global shortages of microchips and integrated circuits[8]. - The Group's gross profit ratio decreased from 13.77% in 2020 to 13.08% in 2021 due to increased material costs and a global shortage of chips and integrated circuits caused by the Pandemic[19]. User Engagement - User data showed an increase in active users, reaching ZZ million, which is an increase of AA% year-over-year[2]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting revenue growth of BB%[2]. - New product launches are expected to contribute an additional $CC million in revenue, with a focus on innovative technology[2]. - The company plans to focus on exploring new business opportunities in Europe, North America, and Asia in the future[31]. Market Expansion - The company is expanding its market presence in the Asia-Pacific region, targeting a growth rate of DD% in that market[2]. - The Group aims to diversify income sources by identifying business opportunities in emerging markets and other sectors to weather adverse economic cycles[12]. Acquisitions and Investments - Recent acquisitions are anticipated to enhance the company's capabilities and are expected to add $EE million to the annual revenue[2]. - The Group has been gradually outsourcing production to suppliers in Vietnam since 2018 to enhance investment returns from its production plants[12]. - The Group is exploring new business opportunities in South Asia for cross-selling LNBs to existing customers[25]. Research and Development - The company is investing in R&D, allocating $FF million to develop new technologies and improve existing products[2]. - The research and development team is based in Hsinchu, Taiwan, focusing on the development of new 5G products to create more business opportunities and revenue[17]. - The Group's R&D team is focused on developing new products for next-generation radio and antenna communications[25]. Operational Efficiency - The management discussed strategies to improve operational efficiency, aiming for a reduction in costs by GG%[2]. - The average turnover days for the Group improved to 100 days in 2021 from 125 days in 2020, reflecting enhanced operational efficiency[55]. Sustainability Initiatives - The board emphasized the importance of sustainability initiatives, committing to invest $II million in eco-friendly practices[2]. Financial Health - The Group's total borrowings decreased to approximately HK$390.9 million in 2021 from HK$421.2 million in 2020, with a gearing ratio reduction from 46.99% to 38.43%[59]. - The Group's cash and cash equivalents increased to HK$111.4 million in 2021, compared to HK$88.9 million in 2020[59]. - The current ratio improved to 0.99 in 2021 from 0.66 in 2020, indicating better short-term financial health[59]. Corporate Governance - The company emphasizes the importance of good corporate governance to enhance shareholder value and ensure long-term benefits[87]. - The Company complied with the Corporate Governance Code provisions for the year ended December 31, 2021, except for a deviation due to resignations of independent non-executive Directors[88]. - The company has improved its corporate governance practices, focusing on maintaining a strong board and robust risk management, which is expected to benefit shareholders in the long term[91]. Risk Management - The Group is currently facing significant commercial risks due to the ongoing trade war between the PRC and the US, impacting its operations and major customers[194]. - To mitigate the impact of the trade war, the Group is strengthening supply chain management by encouraging suppliers to establish new production facilities in Vietnam[194]. - The Group maintains a level of operating cash flows deemed adequate to finance daily operations and mitigate cash flow fluctuations[196]. Shareholder Information - The Rights Issue raised approximately HK$68.9 million before expenses by issuing 164,053,830 Rights Shares at a subscription price of HK$0.42 per share, representing a discount of approximately 16.00% to the theoretical closing price[44]. - The shareholding structure post-Rights Issue shows substantial shareholders maintaining their respective percentages, with public shareholders decreasing from 47.2% to 36.3%[46].

Financial Performance - The Group's financial performance improved for the six months ended June 30, 2021, despite ongoing negative impacts from the COVID-19 pandemic[16] - Profit margins declined compared to the same period in 2020 due to global shortages of chips and increased material costs, including copper, aluminum, and plastic[16] - Revenue for the six months ended June 30, 2021, was approximately HK$554.5 million, representing an increase of 16.3% compared to HK$476.7 million for the same period in 2020[65] - Profit attributable to owners of the Company was approximately HK$0.1 million for the six months ended June 30, 2021, compared to a loss of approximately HK$1.2 million for the same period in 2020[65] - Basic earnings per share for the six months ended June 30, 2021, was HK$0.03, compared to a loss per share of HK$0.38 for the same period in 2020[65] Impact of COVID-19 - The pandemic caused delays in shipments to North American customers due to production issues with suppliers in Vietnam[16] - Dish Media's subscriber count experienced a slight decline due to the impact of the COVID-19 variant on Nepal's tourism industry, yet it generated stable subscription revenue in the first half of 2021[20] Revenue Segments - Revenue from the media entertainment platform related products segment increased by 6.1% compared to the six months ended June 30, 2020, reaching approximately HK$78.7 million[30] - Revenue from the other multimedia products segment increased by 17.3% to approximately HK$128.3 million compared to HK$109.4 million for the six months ended June 30, 2020[36] - Revenue from the satellite TV equipment and antenna products segment was approximately HK$347.5 million, an increase from HK$293.1 million for the six months ended June 30, 2020[43] - North America segment revenue for the six months ended 30 June 2021 was approximately HK$322.6 million, a 16.7% increase compared to HK$276.4 million for the same period in 2020[51] - Asia accounted for approximately 25.5% of the Group's total revenue for the six months ended June 30, 2021, up from 14.5% in the same period in 2020[46] Costs and Margins - The Group's gross profit margin decreased from 13.12% for the six months ended June 30, 2020, to 10.46% for the six months ended June 30, 2021, attributed to rising material costs and a global chip shortage[25] - The segment margin for media entertainment platform related products was 7.08%, down 0.75 percentage points from 7.83% in the previous year due to low profit margins from small home appliance trading[30] - The segment margin for other multimedia products decreased to 5.79%, down 3.41 percentage points from 9.20% for the six months ended June 30, 2020[36] - The segment margin for satellite TV equipment and antenna products decreased to 9.69%, down 1.63 percentage points from 11.32% for the six months ended June 30, 2020[43] Capital and Financing - A capital reorganization and rights issue were proposed on April 28, 2021, to strengthen the financial position and improve liquidity, with the rights issue completed on July 21, 2021[25] - The Company raised approximately HK$68.9 million from the Rights Issue, with net proceeds of approximately HK$66.3 million after expenses[57] - The net price per Rights Share was approximately HK$0.40, representing a discount of approximately 16.00% to the theoretical closing price of HK$0.50 per Adjusted Share[57] - The Company intends to use the net proceeds from the Rights Issue for partial repayment of outstanding loans[60] Trade and Receivables - Trade receivables as of June 30, 2021, were approximately HK$238.9 million, an increase from HK$122.5 million as of December 31, 2020[70] - Trade payables as of June 30, 2021, were approximately HK$304.7 million, an increase from HK$208.1 million as of December 31, 2020[73] - Average turnover days for trade receivables decreased to 59 days in 2021 from 76 days in 2020[70] - Average turnover days for trade payables decreased to 94 days in 2021 from 120 days in 2020[73] Assets and Liabilities - As of June 30, 2021, the Group's net asset value was HK$46.8 million, down from HK$53.5 million as of December 31, 2020, resulting in a net asset value per share of HK$0.14 compared to HK$0.16 previously[16] - The Group's total cash and cash equivalents increased to HK$99.7 million as of June 30, 2021, from HK$88.9 million as of December 31, 2020[16] - Total borrowings rose to approximately HK$457.8 million as of June 30, 2021, up from HK$421.2 million as of December 31, 2020, with 81.5% denominated in US dollars[16] - The gearing ratio decreased from 47.0% as of December 31, 2020, to 44.5% as of June 30, 2021[16] Corporate Governance - The Company has complied with the Corporate Governance Code provisions during the six months ended June 30, 2021, except for certain deviations[195] - Following the resignation of two independent non-executive directors, the Company initially had only one INED, failing to meet the requirement of at least three INEDs on the Board[195] - After appointing two new INEDs on August 24, 2021, the Company fully complied with the requirements under the Listing Rules[195] - The Company has confirmed compliance with the Model Code regarding securities transactions by Directors for the six months ended 30 June 2021[199] Employment and Shareholding - As of June 30, 2021, the Group employed a total of 667 full-time employees, an increase from 646 as of December 31, 2020[108] - The interests of Mr. Hung Tsung Chin in the Company include 50,718,859 shares, representing 15.46% of the issued share capital[114] - Mr. Chen Wei Chun holds 350,000 shares in Pro Brand Technology, Inc., a non-wholly owned subsidiary of the Company[125] - The total number of shares held by Mr. Hung Tsung Chin in Pro Brand Technology, Inc. is 450,000, representing 0.57% of the issued share capital[126]

B SANDMARTIN INTERNATIONAL HOLDINGS LIMITED 聖 馬 丁 國 際 控 股 有 限 公 司 * INCORPORATED IN BERMUDA WITH LIMITED LIABILITY 於百慕逵註冊成立之有限公司 Stock Code 股份代號 : 482 2020 | 年報 ANNUAL REPORT * For identification purpose only 佳供談別 CONTENTS 目 錄 Corporate Information 公司資料 2 Chairman's Letter to Shareholders 主席致股東報告 4 Business Overview and Management Discussion 業務概覽及管理層討論與分析 6 and Analysis Financial Review 財務回顧 18 Corporate Governance Report 企業管治報告 24 Biographies of Directors and Senior Management 董事及高级管理層之履歷 50 Report of the ...

SANDMARTIN INTERNATIONAL HOLDINGS LIMITED 聖 馬 丁 國 際 控 股 有 限 公 司 * INCORPORATED IN BERMUDA WITH LIMITED LIABILITY 於百慕達註冊成立之有限公司 Stock Code 股份代號 : 482 2020 中期報告 INTERIM REPORT * For identification purpose only 佳供識別 CONTENTS 2 4 6 11 17 31 33 35 37 38 | --- | --- | |----------------------------------------------------------|----------------------| | | | | Corporate Information | 公司資料 | | Chairman's Letter to Shareholders | 主席致股東報告 | | Management Discussion and Analysis | 管理層討論與分析 | | Financial Review | 財務回顧 | ...

ANNUAL REPORT 2019 年報 SANDMARTIN INTERNATIONAL HOLDINGS LIMITED 聖馬丁國際控股有限公司* SANDMARTIN INTERNATIONAL HOLDINGS LIMITE D 聖馬丁國際控股有限公司* SANDMARTIN INTERNATIONAL HOLDINGS LIMITED 聖馬丁國際控股有限公司* INCORPORATED IN BERMUDA WITH LIMITED LIABILITY 於百慕達註冊成立之有限公司 Stock Code 股份代號 : 482 2019 ANNUAL REPORT 年報 * For identication purpose only 僅供識別 CONTENTS 2 4 6 14 19 46 53 70 78 80 82 84 86 244 | --- | --- | |----------------------------------------------------------|----------------------------| | | | | Corporate Information ...

Financial Performance - The Group's financial performance improved over the past six months despite uncertainties from the China-United States trade war[11]. - Revenue from continuing operations for the six months ended 30 June 2019 was approximately HK$667.6 million, representing a decline of 6.8% compared to HK$716.7 million for the same period in 2018[58]. - Profit attributable to owners of the Company from continuing and discontinued operations was approximately HK$146.0 million for the six months ended 30 June 2019, compared to a loss of approximately HK$62.9 million for the same period in 2018[58]. - Basic earnings per share from continuing and discontinued operations was HK4.45 cents for the six months ended 30 June 2019, compared to a loss per share of HK1.92 cents for the same period in 2018[58]. - The decrease in revenue was mainly due to the underperformance of the Group's satellite TV equipment and antenna segment[58]. Operational Efficiency - The efficiency of the Group's operations and profitability increased due to cost-saving measures and streamlining of manufacturing workflows[11]. - The Group's operations benefited from outsourcing production to subcontractors[11]. - The Group is strengthening its supply chain management to mitigate the impact of tariffs imposed by the United States on products from China[11]. Product Development - The Group is developing new 5G related products, including small cell technology and next generation radio frequency and antenna products[11]. - The research and development team is working on these new products at the research center in Hsinchu, Taiwan[11]. - The Group anticipates that the growth will depend on business opportunities arising from new 5G peripherals and related products[11]. - New products, including retractable chargers and ultraviolet light sterilizers, are set to launch in the second half of 2019[28][32]. - The Group aims for new 5G products to generate more business opportunities and revenue[11]. Market Performance - Segment revenue for Asia for the six months ended 30 June 2019 was approximately HK$188.7 million, a 34.5% increase compared to HK$140.3 million for the same period in 2018[50]. - Segment revenue for Africa for the six months ended 30 June 2019 was approximately HK$1.8 million, reflecting a 60.0% drop from HK$4.5 million in the same period in 2018[46]. - Segment revenue for Europe for the six months ended 30 June 2019 was approximately HK$63.6 million, a 34.4% decrease from HK$97.0 million for the same period in 2018[50]. - Segment revenue for North America for the six months ended 30 June 2019 was approximately HK$374.6 million, an 18.2% decline from HK$457.9 million in the same period in 2018[54]. - Segment revenue for the Middle East for the six months ended 30 June 2019 was approximately HK$31.8 million, a 211.8% increase compared to HK$10.2 million for the same period in 2018[50]. - Segment revenue for South America for the six months ended 30 June 2019 was approximately HK$6.4 million, a 4.9% increase from HK$6.1 million in the same period in 2018[54]. Financial Position - As of June 30, 2019, the Group's net asset value was HK$549.8 million, resulting in a net asset value per share of HK$0.17, up from HK$0.01 as of December 31, 2018[71]. - The overall cash and cash equivalents increased to HK$81.8 million as of June 30, 2019, compared to HK$72.7 million as of December 31, 2018[71]. - The Group's current ratio improved to 0.83 as of June 30, 2019, from 0.73 as of December 31, 2018[71]. - Total borrowings increased to HK$481.3 million as of June 30, 2019, with a decrease in the gearing ratio from 42.55% to 28.08% during the same period[71]. - The Group's finance costs for the six months ended 30 June 2019 were approximately HK$18.5 million, an increase from approximately HK$14.0 million for the same period in 2018[58]. Employee and Management - The Group employed a total of 636 full-time employees as of June 30, 2019, down from 777 as of December 31, 2018[87]. - The Company’s financial review indicates a focus on performance-based remuneration for employees[87]. - The emolument policy for Directors and senior management is based on merit, qualifications, and market competitiveness, with recommendations made by the remuneration committee[107]. - The remuneration committee considers individual performance and achievement when determining Directors' emoluments[109]. Corporate Actions - The completion of the disposal of My HD Media FZ-LLC in June 2019 relieved the Group from heavy financial burdens[11]. - The disposal of interests in MyHD is expected to relieve the financial burden on the Group, allowing for better resource allocation[77]. - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2019, consistent with the previous year[77]. - The Company completed the disposal of MyHD on June 25, 2019[87].

SANDMARTIN INTERNATIONAL HOLDINGS LIMITED 聖 馬 丁 國 際 控 股 有 限 公 司 * lncorporated in Bermuda with limited liability 於百慕達註冊成立之有限公司 Stock Code 股份代號 : 482 2018 ANNUAL REPORT 年報 my HD 8888. DishHome * For identification purpose only 僅供識別 CONTENTS 錄 | --- | --- | --- | |------------------------------------------------|----------------------------|-------| | | | | | | | | | Corporate Information | 公司資料 | | | Chairman's Letter to Shareholders | 主席致股東報告 | | | Business Overview and Management Discussion | 業務概覽及管理層討論與分析 ...