Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 37,412,000, a slight increase of 0.3% compared to HKD 37,288,000 in the same period of 2023[5] - Gross profit increased to HKD 9,079,000, representing a 12.6% increase from HKD 8,064,000 year-on-year[5] - The net loss for the period was HKD 4,302,000, an improvement from a net loss of HKD 4,829,000 in the previous year, reflecting a decrease of 10.9%[7] - Other income rose to HKD 2,068,000, up 3.5% from HKD 1,998,000 in the same period last year[5] - The company reported a basic and diluted loss per share of HKD 0.27, an improvement from HKD 0.30 in the previous year[5] - The company reported an overall pre-tax loss of HKD 4,305,000 for the period, compared to a loss of HKD 4,829,000 in the previous year[34][38] - For the six months ended September 30, 2024, the company reported a loss attributable to owners of the company of HKD 4,302,000, compared to a loss of HKD 4,829,000 for the same period in 2023, representing a 10.9% improvement in loss[62] - The basic loss per share for the six months ended September 30, 2024, was HKD 0.27, compared to HKD 0.30 for the same period in 2023, indicating a decrease of 10% in loss per share[62] - The total net loss decreased to approximately HKD 4,300,000 from HKD 4,900,000 in the previous year[97] Revenue Breakdown - Revenue for the manufacturing and trading of printed and packaging products was HKD 24,930,000, a decrease of 8% from HKD 27,094,000 in the previous year[36] - Revenue from external customers in Hong Kong decreased to HKD 22,077,000 from HKD 29,252,000, representing a decline of 24%[47] - The revenue from the circuit board business was approximately HKD 12,500,000, representing a 22.6% increase from HKD 10,200,000 in the previous year[93] - The printing business recorded revenue of approximately HKD 24,900,000, a decrease of 8.1% from HKD 27,100,000 in the same period last year[93] Assets and Liabilities - Trade receivables decreased significantly to HKD 14,543,000 from HKD 24,836,000, a reduction of 41.5%[9] - Cash and cash equivalents increased to HKD 46,480,000, up 23.4% from HKD 37,605,000 as of March 31, 2024[9] - Total assets less current liabilities stood at HKD 89,959,000, down from HKD 93,827,000, indicating a decrease of 4.3%[9] - Non-current assets in China amounted to HKD 25,536,000, a decrease from HKD 26,749,000 as of March 31, 2024[47] - The total assets allocated to reportable segments were HKD 117,951,000, while total liabilities were HKD 28,521,000 as of September 30, 2024[43] Operational Efficiency and Strategy - The company plans to continue focusing on its core business activities, including manufacturing and trading of printed circuit boards and energy products[30] - The board has reviewed the interim results and is committed to improving operational efficiency and exploring new market opportunities[4] - The circuit board division's performance improved due to effective supplier management, but demand is expected to remain suppressed due to slow global economic recovery[114] - The printing division demonstrated resilience despite facing pressure from weak demand and intense competition, with ongoing cost control measures and inventory optimization[115] - The oil and energy products trading division is actively seeking trade opportunities with reliable partners, with a focus on establishing a joint venture for energy and resource-related products[118] Employee and Operational Costs - The company’s employee costs, including directors' remuneration, increased to HKD 15,148,000 for the six months ended September 30, 2024, from HKD 14,632,000 in the same period last year, marking an increase of 3.5%[62] - The total employee cost for the period was approximately HKD 15,100,000, an increase from HKD 14,600,000 for the same period last year[106] Investments and Acquisitions - The company is in the process of acquiring Full Smart Inc Limited for approximately USD 3,700,000 (approximately HKD 28,736,000), with a refundable deposit of HKD 13,260,000 already paid[69] - The investment fund division entered into a joint venture agreement to acquire 40% equity in Noricap Fund, which is actively seeking investment opportunities[119] - A loan of approximately HKD 19,800,000 was provided to Noricap Fund for temporary investments, with ongoing work to establish a special purpose fund[121] - The board believes that providing shareholder loans for agreed investments will maximize returns and diversify the group's business and revenue sources[122] Shareholder Information - As of September 30, 2024, a director holds 10,000 shares, representing approximately 0.0006% of the issued share capital[126] - As of September 30, 2024, the company has a total of 1,613,287,570 issued shares[132] - Spring Global Enterprises Limited holds 280,000,000 shares, representing 17.36% of the issued share capital[131] - Wu Wencan and his spouse Li Meili jointly hold 420,988,000 shares, accounting for 26.1% of the issued share capital[131] - Anbo Consulting (Hong Kong) Limited is an investment manager holding 103,826,000 shares, which is 6.44% of the issued share capital[131] Compliance and Governance - The interim results for the period were not audited by external auditors but were reviewed by the company's audit committee[136] - The interim report for the six months ending September 30, 2024, will be distributed to shareholders and published on the company's website[137] - The board of directors confirmed compliance with the standard code of conduct for securities trading during the reporting period[134] - The company has no treasury shares as of September 30, 2024[133]

Revenue Performance - The group's total revenue for the year was approximately HKD 85,600,000, an increase of about 2.1% from last year's HKD 83,800,000[23] - Revenue from the printing business increased from approximately HKD 53,000,000 last year to about HKD 59,000,000 this year, an increase of approximately HKD 6,000,000[23] - The group reported a total revenue of HKD 85,584,000 for the fiscal year ending March 31, 2024, compared to HKD 83,758,000 for the previous year, reflecting an increase of approximately 2.2%[86] - Revenue from the manufacturing and trading of printed products in Hong Kong reached HKD 53,384,000, contributing significantly to the overall revenue[86] - Revenue from the manufacturing and trading of printed circuit boards generated revenue of HKD 26,548,000, down from HKD 30,801,000, reflecting a decrease of 13.3%[116] - Revenue from the manufacturing and trading of printed and packaging products increased to HKD 59,036,000 from HKD 52,957,000, marking an increase of 11.8%[116] - Revenue from external customers for 2024 reached HKD 85,584,000, a slight increase of 2.2% from HKD 83,758,000 in 2023[179] - Revenue breakdown by region shows significant growth in Hong Kong, with earnings of HKD 57,376,000, up 24.6% from HKD 46,054,000 in 2023[179] - European revenue increased by 64.2% to HKD 19,584,000 from HKD 11,926,000 in the previous year[179] - North American revenue saw a decline of 95.1%, dropping to HKD 637,000 from HKD 12,979,000[179] Profitability and Loss - The group's gross profit margin improved to approximately 20.7%, up from about 19.1% last year[25] - The printing business recorded a segment profit of approximately HKD 2,100,000, compared to a segment loss of about HKD 800,000 last year[24] - The group recorded a total net loss of approximately HKD 11.9 million for the year, a decrease from a net loss of approximately HKD 26 million in the previous year[48] - The group's gross profit increased to approximately HKD 17.7 million, compared to approximately HKD 16 million in the previous year, reflecting an increase of about HKD 1.7 million[48] - The total comprehensive loss for the year was HKD 12,101,000, compared to HKD 26,747,000 in the previous year, showing a reduction of 54.8%[105] - The company reported a pre-tax loss of HKD 11,873,000 for the fiscal year ending March 31, 2024, compared to a loss of HKD 25,868,000 in the previous year, indicating a significant improvement[132] - The company incurred a loss attributable to owners of the company of HKD 11,873,000 for the current year, a significant improvement from the loss of HKD 26,017,000 in the previous year[99] - The company’s net loss for the year was HKD 11,873,000, compared to a net loss of HKD 26,017,000 in the previous year, showing a reduction in losses[132] Financial Position - The capital debt ratio decreased to 0.3% as of March 31, 2024, down from 1.0% in 2023, primarily due to a reduction in lease liabilities of approximately HKD 800,000[26] - The current ratio as of March 31, 2024, was 2.50 times, compared to 2.47 times in 2023[26] - The company’s total liabilities amounted to HKD 31,296,000, with total assets of HKD 125,109,000, indicating a healthy asset-to-liability ratio[89] - The company’s total assets decreased to HKD 78,213,000 from HKD 94,673,000, a decline of about 17% year-over-year[134] - The company’s total liabilities decreased to HKD 31,282,000 from HKD 38,376,000, a reduction of approximately 18%[134] Cash Flow and Investments - As of March 31, 2024, the group's cash and bank balances totaled approximately HKD 37.6 million, down from approximately HKD 49.6 million as of March 31, 2023[49] - The group provided a loan of approximately HKD 19.8 million to Noricap Fund for temporary investments aimed at achieving stable returns[40] - The group has agreed to liquidate temporary investments early due to global economic uncertainties, seeking other risk-adjusted return opportunities[67] - The group’s cash and cash equivalents at the end of the reporting period amounted to HKD 799,000[82] Employee Costs - Total employee costs for the year, including directors' remuneration, were approximately HKD 29,200,000, down from about HKD 33,900,000 last year[31] - Employee costs (excluding directors' remuneration) decreased to HKD 24,585,000 from HKD 28,769,000, reflecting a reduction of 14.3%[181] Corporate Governance and Compliance - The group has complied with all applicable corporate governance code provisions, except for the separation of the roles of Chairman and CEO, which are held by the same individual[68] - The group’s financial statements have been reviewed by its auditor, confirming consistency with the preliminary performance announcement[71] - The group’s operations are delegated to executive directors and senior management, ensuring effective promotion of business development[68] Future Outlook and Strategic Initiatives - The group is actively exploring trade opportunities and intends to resume its trading business, having signed a non-binding memorandum of understanding with an independent third party to establish a joint venture for energy and resource-related products trading[39] - The board anticipates that demand for circuit board products will continue to be under pressure due to the slow global economic recovery and uncertainties in the macroeconomic environment[45] - The group has implemented cost control measures and inventory management optimization in response to continued pressure on demand due to the uncertain macroeconomic environment[45] - The group plans to closely monitor the establishment and development of special purpose funds as a favorable investment opportunity for future growth[68] Joint Ventures and Collaborations - The group has entered into a joint venture agreement to acquire a 40% stake in Noricap Fund, which focuses on investment holding and managing special purpose funds[61] - The group holds a 40% ownership interest in joint ventures, with a book value of HKD 477,000, down from HKD 635,000 in the previous year[186] - The group has no capital commitments or contingent liabilities related to joint ventures[190] Loss Provisions and Impairments - The group has recognized an increase in loss provisions amounting to HKD 1,093,000 for the fiscal year ending March 31, 2024[81] - The company recognized a net impairment loss of HKD 234,000 on trade receivables, compared to a reversal of HKD 248,000 in the previous year[110] - The group recorded a credit loss of approximately HKD 1,093,000 on joint venture loans for the year ending March 31, 2024, compared to no losses in 2023[188] Miscellaneous - The board does not recommend the payment of a final dividend for the year ending March 31, 2024, consistent with the previous year[56] - The group has not recorded any revenue or loss from its oil and energy products trading and related businesses since 2019, with no segment revenue or loss reported for the current year[46] - The company recorded interest income of HKD 250,000, an increase from HKD 176,000 in the previous year, marking a growth of about 42%[128] - The company’s government subsidies decreased to HKD 220,000 from HKD 431,000, reflecting a decline of about 49%[128]

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 37,288,000, a decrease of 20.2% compared to HKD 46,756,000 in the same period of 2022[3] - Gross profit for the same period was HKD 8,064,000, down 12.4% from HKD 9,211,000 year-on-year[3] - The net loss for the period was HKD 4,829,000, significantly improved from a loss of HKD 20,190,000 in the previous year, representing a reduction of 76.1%[4] - Basic and diluted loss per share improved to HKD 0.30 from HKD 1.24 in the prior year[3] - The company reported a pre-tax loss of HKD 4,858,000 for the period, reflecting ongoing challenges in its operational segments[17] - The company incurred a loss before tax of HKD 20,219,000 for the six months ended September 30, 2023, compared to a loss of HKD 20,190,000 for the same period in 2022[25] - The total net loss decreased from approximately HKD 20.2 million in the previous year to about HKD 4.9 million in the current period[58] Revenue Breakdown - Revenue from the manufacturing and trading of printed and packaging products was HKD 27,094,000, down 15.9% from HKD 32,211,000 year-on-year[14] - The manufacturing and trading of circuit boards generated revenue of HKD 10,194,000, a decline of 30.1% compared to HKD 14,545,000 in the previous year[14] - The revenue from the circuit board business was approximately HKD 10.2 million, down 29.7% from HKD 14.5 million in the previous year[55] - The printing business generated revenue of approximately HKD 27.1 million, a decrease of 16.1% from HKD 32.3 million in the same period last year[55] - The oil and energy products trading segment has not recorded any revenue since 2019 due to its suspension[54] Assets and Liabilities - Total assets as of September 30, 2023, were HKD 100,719,000, compared to HKD 106,227,000 as of March 31, 2023[6] - The company’s total liabilities as of September 30, 2023, were HKD 28,256,000, a decrease from HKD 38,689,000 as of March 31, 2023[20] - Cash and cash equivalents decreased to HKD 42,817,000 from HKD 49,606,000 in the previous period[5] - Cash and cash equivalents at the end of the period stood at HKD 42,817,000, down from HKD 44,404,000 at the end of the previous period[9] - The total liabilities for trade payables decreased significantly to HKD 10,442,000 in September 2023 from HKD 22,272,000 in March 2023, a reduction of 53%[41] Operational Segments - The company has identified major operational segments including manufacturing and trading of circuit boards, oil and energy products, and investment funds[13][15] - The circuit board business recorded a segment loss of approximately HKD 1.8 million, compared to a segment loss of HKD 300,000 in the previous year, indicating an increase in losses[55] - The printing business reported a segment loss of approximately HKD 300,000, an improvement from a segment loss of HKD 800,000 in the previous year[56] - The decrease in revenue was primarily due to weak global economic recovery affecting customer demand[55] Cash Flow and Investments - The net cash used in investing activities was HKD 2,486,000, an improvement from HKD 10,451,000 in the prior period[9] - The net decrease in cash and cash equivalents was HKD 6,734,000, compared to a decrease of HKD 10,535,000 in the same period last year[9] - The group has no plans for significant investments or capital asset acquisitions in the next twelve months[67] - The group has invested approximately HKD 19,800,000 in shareholder loans to the joint venture, which is expected to provide maximum returns by investing in emerging industries such as energy and technology[80] Shareholder Information - As of September 30, 2023, the company has a total of 1,613,287,570 issued shares[89] - Spring Global Enterprises Limited holds 280,000,000 shares, representing 17.36% of the issued share capital[89] - Wu Wencan and Li Meili jointly hold 299,180,000 shares, accounting for 18.55% of the issued share capital[89] - The company’s major shareholders include Ample Cheer Limited and Jin Li Feng Financial Limited, each holding 120,068,000 shares, or 7.44% of the issued share capital[89] Corporate Governance - The audit committee reviewed the consolidated financial statements for the period, agreeing on all accounting treatment methods adopted[91] - The company has adopted a standard code of conduct for securities trading by its directors, with all directors confirming compliance during the period[88] - The company has not reported any changes in director information aside from those disclosed[90] - The board recommended not to declare an interim dividend for the period[70]

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，並明確表示概不就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。 DAISHO MICROLINE HOLDINGS LIMITED 大 昌 微 綫 集 團 有 限 公 司* （於百慕達註冊成立之有限公司） （股份代號：0567） 中期業績公告 截至二零二三年九月三十日止六個月 ...

Economic Outlook - The global economic growth for 2023 is projected at 2.8%, down from 3.4% in 2022, indicating a potential slowdown in economic activity[5]. - The company anticipates continued pressure on demand for its products due to economic uncertainties, particularly in the line board business segment[68]. Business Segments Performance - The circuit board business segment is expected to improve as countries relax pandemic control measures, with demand for circuit boards under pressure due to COVID-19 and geopolitical conflicts[6]. - The printing business segment faced challenges with consumer sentiment and changing purchasing preferences, leading to a decline in downstream demand[7]. - The energy products segment maintained stable demand, with international crude oil prices remaining high and volatile, indicating ongoing trade opportunities[8]. - The printing business segment saw improved profitability due to stable raw material prices and cost control measures, although demand remains under pressure[69]. Financial Performance - The company reported a significant increase in revenue, achieving a total of HKD 1.2 billion for the fiscal year, representing a 15% year-over-year growth[17]. - The group's revenue for the year ended March 31, 2023, was HKD 83,758,000, a decrease of 21.4% from HKD 106,471,000 in 2022[87]. - The group reported a loss before tax of HKD 25,868,000 for the year, compared to a loss of HKD 29,149,000 in the previous year[87]. - The group incurred a net loss of HKD 26,017,000 for the year, compared to a net loss of HKD 29,128,000 in 2022[87]. Cost Control and Efficiency - A restructuring process is underway to improve the overall financial condition and cost efficiency of the company[10]. - The company will continue to implement cost control measures and optimize inventory management to enhance profitability in the printing segment[7]. - The group implemented cost control measures that resulted in a decrease in administrative expenses by approximately HKD 600,000 compared to last year[33]. Growth Strategies - The company plans to seek growth opportunities in various business sectors, including healthcare, amidst a complex global economic environment[11]. - The company aims to maximize shareholder value by adjusting operational strategies to seize market opportunities[5]. - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market penetration[21]. Research and Development - Research and development expenditures increased by 30%, totaling HKD 150 million, to support new technology initiatives[21]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[21]. Sustainability Initiatives - The board of directors emphasized the importance of sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2030[21]. - The company aims to reduce greenhouse gas emissions density by 4% by the fiscal year ending March 31, 2025, using 2022 as the baseline year[150]. - The company plans to lower hazardous waste density by 3% by the fiscal year ending March 31, 2025, with ongoing employee awareness activities[150]. Employee Management - The total number of employees is 290, a slight decrease from 292 in the previous year[175]. - The employee turnover rate decreased to 39% in 2023 from 47% in 2022, showing an improvement in employee retention[181]. - The company provides competitive compensation and additional benefits, including various types of leave, insurance, and bonuses[177]. Environmental Management - The company is committed to maintaining air pollutant emissions within government-established standards through regular vehicle maintenance and compliance with local regulations[153]. - The company has not reported any significant violations of environmental laws and regulations during the reporting period[152]. Governance and Compliance - The independent auditor for the group has remained unchanged for the past three years, ensuring consistency in financial reporting[129]. - The company has established a series of human resource management procedures to ensure compliance with labor laws and regulations, with no significant violations reported during the period[173].

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，並明確表示概不就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。 DAISHO MICROLINE HOLDINGS LIMITED 大 昌 微 綫 集 團 有 限 公 司* （於百慕達註冊成立之有限公司） （股份代號：0567） 截至二零二三年三月三十一日止年度之 全年業績公告 大昌微綫集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）宣佈本集團截至二零二三年三月三十一日止年度之初步綜合業績連 同過往相應年度之比較數字如下： 綜合損益表 截至二零二三年三月三十一日止年度 二零二三年 二零二二年 附註 港幣千元 港幣千元 持續經營業務 收益 3 83,758 106,471 ...

Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 46,756,000, a decrease of 6.5% compared to HKD 49,911,000 in the same period of 2021[4] - The loss from continuing operations before tax was HKD 20,219,000, compared to a loss of HKD 15,378,000 in the previous year, indicating a worsening financial performance[4] - Total comprehensive loss for the period was HKD 19,232,000, slightly higher than the loss of HKD 19,174,000 in the same period last year[6] - The company reported a loss of HKD 20,190,000 for the six months ended September 30, 2022, compared to a loss of HKD 16,873,000 for the same period in 2021, indicating an increase in losses of approximately 19.5%[12] - The group reported a pre-tax loss of HKD 20,219,000 for the period, compared to a pre-tax loss of HKD 16,915,000 in the previous year[27] - The group reported a total net loss of approximately HKD 20,200,000 for the period, an increase from approximately HKD 16,900,000 in the previous year, mainly due to a loss of approximately HKD 15,300,000 from the cancellation of subsidiary consolidation[99] Revenue Breakdown - The group reported revenue from the manufacturing and trading of circuit boards at HKD 14,545,000, a decrease of 23.2% from HKD 19,046,000 in the previous year[19] - Revenue from the manufacturing and trading of printing and packaging products was HKD 32,211,000, an increase of 4.4% from HKD 30,865,000 in the previous year[19] - Revenue from Hong Kong increased to HKD 28,580,000, up 5.2% from HKD 27,152,000 year-on-year[41] - Revenue from North America decreased to HKD 7,096,000, down 10% from HKD 7,889,000 in the previous year[41] - Revenue from China dropped significantly to HKD 4,151,000, a decline of 53.8% from HKD 8,994,000 in the same period last year[41] Asset Management - Non-current assets decreased to HKD 51,106,000 from HKD 50,543,000, showing a slight increase in asset management efficiency[7] - Current assets decreased to HKD 102,510,000 from HKD 125,065,000, indicating a reduction in liquidity[7] - Cash and cash equivalents decreased to HKD 44,404,000 from HKD 55,012,000, indicating a decline in cash reserves[7] - The company’s total equity as of September 30, 2022, was HKD 113,429,000, down from HKD 132,661,000 at the beginning of the period, reflecting a decline of approximately 14.5%[11] Cash Flow and Financing - The operating cash flow before changes in working capital was a negative HKD 911,000, a significant improvement from a negative HKD 12,016,000 in the previous year[12] - The company recorded a net cash outflow from investing activities of HKD 10,451,000, a decrease from a net inflow of HKD 52,008,000 in the prior year, primarily due to increased capital expenditures[13] - The company’s cash outflow from financing activities was HKD 491,000, a significant reduction from HKD 41,528,000 in the previous year, indicating a decrease in debt repayment activities[13] Impairment and Loss Provisions - The company reported a significant impairment loss reversal of HKD 292,000 on trade receivables, compared to a loss of HKD 1,923,000 in the previous year[4] - The company reported a decrease in trade receivables impairment losses, with a reversal of HKD 292,000 compared to a loss of HKD 1,923,000 in the previous year, suggesting improved collection efforts[12] - The group reported a decrease in loss provisions for trade receivables from HKD 6,211,000 to HKD 830,000[64] Shareholder and Capital Structure - The group raised approximately HKD 79,100,000 through a rights issue, which was fully utilized for proposed purposes without discrepancies between proposed and actual uses[102] - The group issued 806,643,785 new shares at a subscription price of HKD 0.1 per share during the rights issue completed on December 16, 2021[74] - As of September 30, 2022, major shareholders include Spring Global Enterprises Limited and Wu Wenchan, each holding approximately 17.36% of the issued share capital[130] Legal Matters - The company is involved in ongoing litigation with former executive Chen Xi Ming, claiming approximately HKD 4,300,000 for various compensations, which the board believes is unlikely to result in a financial outflow[80] - The company is also engaged in litigation with Société Générale regarding a claim for approximately USD 89,849,000 related to trade financing defaults, with a court ruling reducing the amount to approximately HKD 10,229,000[84] - The company has made a claim against Inter-Pacific Group for the return of a deposit amounting to HKD 14,574,000 related to the acquisition of two vessels[89] Operational Challenges and Outlook - The demand for the circuit board segment is expected to remain under pressure due to the resurgence of COVID-19 and lockdown measures in major cities[119] - The printing segment anticipates continued pressure on profitability due to rising raw material prices and inflation, but expects improvement following recent economic stimulus measures in China[120] - The oil and energy products trade segment is facing challenges, yet global commodity demand is projected to continue growing despite volatility in international oil prices[122] Corporate Governance and Management - The management structure is designed to effectively promote operational and business development, with the roles of chairman and CEO distinctly separated[127] - The company has complied with all applicable corporate governance codes during the reporting period[126] - The group's interim results for the six months ended September 30, 2022, have not been audited by external auditors, but the audit committee has reviewed the accounting principles and practices adopted[136]

Economic Outlook - The global economic growth for 2022 and 2023 is projected at 3.6%, lower than previous forecasts, impacting the company's business operations [8]. - The circuit board division focuses on automotive and AI construction equipment, with a demand forecast under pressure due to COVID-19 and geopolitical tensions [9]. - The printing division faces challenges from rising raw material prices due to supply chain disruptions caused by the pandemic and the Ukraine war [10]. - The energy products trading division sees stable demand, but supply chain issues have led to a surge in commodity prices, with Brent crude reaching its highest level since 2014 [11]. Financial Performance - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year [21]. - The total revenue of the group was approximately HKD 106.5 million, an increase of 56.8% compared to last year's HKD 67.9 million [34]. - Revenue from the printing business, acquired on August 12, 2020, contributed approximately HKD 36.1 million, leading to an overall increase in revenue to approximately HKD 70.8 million [34]. - The revenue from the circuit board business was approximately HKD 35.7 million, a 12.3% increase from last year's HKD 31.8 million, driven by increased demand from overseas customers [35]. - The group recorded a segment loss of approximately HKD 200,000 from the oil trading business, which had no revenue due to its suspension [34]. - The net loss for the year was approximately HKD 29.1 million, a reduction from last year's loss of approximately HKD 67 million [36]. - The company provided guidance for the next fiscal year, projecting revenue growth of A% and an expected EBITDA margin of B% [21]. Investment and Growth Strategies - A memorandum of understanding was signed in June 2022 to establish a special purpose fund, aimed at investing in emerging sectors like energy and technology [12]. - The establishment of the special purpose fund is expected to diversify the company's business and revenue sources, positively impacting cash flow and debt ratios [12]. - The company plans to closely monitor external environments and explore investment and growth opportunities across various business sectors [13]. - The company is investing H million in R&D to develop new technologies aimed at improving product offerings and customer experience [21]. - Strategic partnerships are being formed to leverage synergies, with an expected impact of I million in additional revenue [21]. Operational Efficiency and Cost Management - Recent acquisitions are expected to enhance operational efficiency, with projected cost savings of G million annually [21]. - The company has implemented new operational strategies that are projected to improve overall profitability by J% [21]. - The group will continue to implement cost control measures and expand its customer base in response to the challenging economic environment [54]. Sustainability and ESG Initiatives - The management team emphasized a commitment to sustainability, with plans to reduce carbon emissions by K% over the next five years [21]. - The group aims to align its ESG goals with national carbon neutrality visions to enhance corporate reputation [122]. - The company has implemented a climate change policy to manage climate-related risks and has conducted a climate risk assessment to identify potential business impacts [164]. - The company actively implements measures to monitor and reduce emissions, including regular maintenance of vehicles and compliance with local emission regulations [134]. - The company has received no significant legal violations related to emissions and waste management during the reporting period [132]. Employee and Workforce Management - As of March 31, 2022, the company employed 349 staff, an increase from 262 staff in the previous year, reflecting a growth of approximately 33.2% [168]. - The employee distribution includes 92 males and 170 females, with the majority (108) aged between 41-50 years [168]. - The company provides competitive compensation and additional benefits, including various types of leave, insurance, and bonuses, to attract and retain talent [171]. - Employee turnover rate is 35%, with male turnover at 41% and female turnover at 32% [174]. - The company has implemented strict health and safety measures in response to the COVID-19 pandemic, including temperature checks and mandatory mask-wearing [184]. Supply Chain and Procurement - A total of 152 suppliers from China were engaged during the reporting period, with a focus on evaluating their qualifications and performance [195]. - The group has established a "Green Procurement Management System" to prioritize suppliers that use environmentally friendly products and services [196]. - Regular performance evaluations of existing suppliers are conducted to manage potential environmental and social risks in the supply chain [197]. Legal and Compliance - The company has no significant contingent liabilities or capital commitments as of March 31, 2022 [44][45]. - The group has implemented a "Product Safety and Risk Control Procedure" to regulate quality management processes for products and services [199]. - All employees are required to provide accurate personal identification information to ensure legal employment [192].

Revenue Performance - Revenue from continuing operations increased to HKD 49,911,000, a 171% increase compared to HKD 18,381,000 in the previous year[3] - Total revenue for the group from continuing operations was HKD 49,911,000, compared to HKD 18,381,000 in the prior year, marking a substantial increase of 171%[20] - Revenue from the manufacturing and trading of printing and packaging products reached HKD 30,865,000, significantly up from HKD 3,200,000 in the previous year, indicating an increase of 867%[20] - Revenue from Hong Kong reached HKD 27,152,000, up from HKD 4,604,000, indicating a growth of 487%[28] - Revenue from North America increased to HKD 7,889,000 from HKD 4,558,000, marking a growth of 73%[28] - The group reported revenue from the manufacturing and trading of circuit boards of HKD 19,046,000 for the six months ended September 30, 2021, compared to HKD 15,181,000 in the same period of 2020, representing a growth of 25%[20] Profitability and Losses - Gross profit decreased to HKD 829,000, down 60% from HKD 2,066,000 year-on-year[3] - Loss from continuing operations before tax improved to HKD 15,378,000, a 47% reduction from HKD 29,265,000 in the prior year[3] - Total comprehensive loss for the period was HKD 19,174,000, compared to HKD 20,016,000 in the previous year, indicating a slight improvement[6] - The company reported a loss of HKD 16,873,000 for the period ending September 30, 2021, compared to a loss of HKD 28,084,000 for the same period in 2020, indicating a 40% improvement in performance year-over-year[9] - The group reported a pre-tax loss of HKD 16,915,000 for the period, with a total loss for the period amounting to HKD 16,873,000[23] - The group’s net loss decreased from approximately HKD 28,100,000 in the previous year to approximately HKD 16,900,000, primarily due to a reduction in administrative expenses by 34.7% to HKD 16,200,000[96] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 15,700,000 from HKD 30,333,000, reflecting a 48% decline[7] - The company experienced a cash outflow from operating activities of HKD 26,100,000 for the six months ended September 30, 2021, compared to a cash inflow of HKD 35,400,000 for the same period in 2020[12] - The company’s cash and cash equivalents decreased to HKD 15,700,000 at the end of the period from HKD 56,171,000 at the beginning, representing a decline of approximately 72%[15] - The company generated bank interest income of HKD 6,000, compared to HKD 42,000 in the previous year, indicating a decline[31] Assets and Liabilities - Total assets decreased to HKD 101,402,000 from HKD 151,311,000, a decline of 33%[7] - Total equity as of September 30, 2021, was HKD 75,948,000, down from HKD 95,122,000 at the beginning of the period, reflecting a decrease of approximately 20%[9] - The company’s total liabilities increased to HKD 300,431,000 as of September 30, 2021, compared to HKD 295,000,000 at the beginning of the period, reflecting a slight increase of approximately 1.5%[9] - The group’s total assets amounted to HKD 171,870,000, with total liabilities of HKD 95,922,000 as of September 30, 2021[27] Shareholder Information - As of September 30, 2021, the company had a total of 806,643,785 issued and fully paid ordinary shares[72] - Following a rights issue, the total issued shares increased to 1,613,287,570, with Zhang Lingmin's stake reduced to 7.44%[120] - The company issued 230,400,000 new shares during the placement, raising approximately HKD 17,596,000 after deducting direct costs of about HKD 606,000[72] Operational Segments - The group identified four operating segments: manufacturing and trading of circuit boards, oil and energy product trading, manufacturing and trading of printing and packaging products, and ship leasing (classified as discontinued operations)[19] - The group plans to expand its oil and energy business segment, exploring trade opportunities with reliable partners due to strong demand in China[108] - The printing business recorded revenue of approximately HKD 30,900,000, significantly up from HKD 3,200,000 in the previous year, driven by strong customer demand post-COVID-19[94] Legal and Compliance Issues - The company is involved in ongoing litigation with a former executive, with claims amounting to approximately HKD 4,300,000, which the board believes are unfounded[79] - The company is also facing a lawsuit from Société Générale regarding trade financing defaults, with claims amounting to approximately USD 89,849,000[82] - The group faced a claim of approximately HKD 1.585 million from a landlord for unpaid rent and damages due to a breach of lease agreement[90] Future Outlook and Strategy - The company has made investments in a healthcare group, viewing it as an excellent opportunity to enter the healthcare industry[112] - Despite current market conditions, the company aims to seek investment and growth opportunities, including expansion into the healthcare sector, which is expected to be a significant growth driver in China over the next decade[112] - The company continues to explore opportunities in the healthcare market and other business areas beneficial to its overall strategy[112]

Economic Outlook - The global economy is expected to grow by 6% in 2021 and 4.4% in 2022, with China's GDP returning to pre-pandemic levels[9]. - The oil trading business faces significant challenges due to the pandemic and tightening credit financing for trade companies, although demand for commodities in China remains strong[71]. Industry Trends - The printed circuit board (PCB) industry in mainland China is projected to continue growing, driven by the demand for smaller and higher-density PCBs due to the rise of smartphones and wearable devices[10]. - The group specializes in the production of double-sided, multi-layer, and HDI circuit boards, widely used in automotive electronics, communication devices, and medical equipment[136]. Company Acquisitions and Investments - The company completed the acquisition of a printing and packaging business in August 2020, which has a long performance record, but the COVID-19 pandemic has negatively impacted this segment[11]. - The company is exploring opportunities in the healthcare market through a minority investment in a Hong Kong-listed medical group[16]. - The company acquired 100% equity of Tianan Printing and Packaging Group for HKD 35,000,000 on March 23, 2020[60]. - The acquisition of Tianan was completed on August 12, 2020, but the printing business was negatively impacted by the COVID-19 pandemic, resulting in a net profit of approximately HKD 2,720,000 for the year ending March 31, 2021, which is below the guaranteed profit of HKD 7,000,000[62]. - The company agreed to purchase 18,160,000 shares of Songling Elderly Group at a price of HKD 1.647 per share, representing approximately 2.02% of the issued share capital, with the acquisition completed on October 6, 2020[65]. Financial Performance - Total revenue for the group was approximately HKD 89.1 million, a decrease of 92.6% from last year's HKD 1,205.8 million[39]. - The oil trading business recorded no revenue this year, compared to HKD 1,148.4 million last year, resulting in a segment loss of approximately HKD 900,000[39]. - Ship leasing income increased to approximately HKD 21.2 million, a 3.9% increase from last year's HKD 20.4 million[40]. - The printed circuit board business recorded revenue of approximately HKD 31.8 million, a decrease of 14.1% from last year's HKD 37 million[40]. - The group recorded a net loss of approximately HKD 67 million, an improvement from last year's loss of approximately HKD 87.2 million[41]. - The acquisition of Tianan Printing and Packaging Co., Ltd. contributed segment revenue of approximately HKD 36.1 million and segment profit of HKD 4.9 million[40]. - Equity attributable to owners of the company decreased from approximately HKD 133.1 million to approximately HKD 95.1 million[41]. - The group faced segment losses primarily due to impairment losses related to vessels amounting to approximately HKD 32.3 million[40]. - The decrease in net loss was attributed to reduced impairment losses on trade receivables by HKD 19.6 million and decreased financing costs by HKD 10.2 million[41]. - The group suspended its oil trading business due to a banking injunction that restricted its subsidiaries from placing orders or accepting new orders[39]. - For the fiscal year ending March 31, 2021, the group's revenue from continuing operations was HKD 67,886,000, a significant decrease from HKD 1,185,407,000 in the previous year, representing a decline of approximately 94.3%[86]. - The net loss attributable to the company's owners for the year was HKD 66,976,000, compared to a loss of HKD 87,248,000 in the previous year, indicating an improvement of about 23.1%[86]. - The group's total equity decreased to HKD 95,122,000 from HKD 133,086,000 in the previous year, marking a decline of approximately 28.5%[86]. Management and Governance - The company appointed Mr. Li Wenguang as the chairman of the board on October 16, 2020, and he has been an executive director since June 1, 2018[19]. - Mr. Huang Shaoxiong has been the Chief Operating Officer since October 2019, overseeing the overall development of the group's business, particularly in oil product trading and ship leasing[20]. - The company has a strong management team with over 40 years of experience in banking, finance, commodity trading, and project development[20]. - The independent non-executive director, Mr. Liang Jinghui, has over 21 years of experience in accounting, auditing, and finance, and has been with the company since June 9, 2015[26]. - Dr. Chen Youzheng, an independent non-executive director since September 3, 2018, holds a PhD in finance and has extensive experience in strategic investment projects and asset management[29]. - The company has been focusing on expanding its market presence and enhancing its operational capabilities through strategic appointments in its management team[20][29]. - The management team includes members with qualifications from prestigious institutions, enhancing the company's governance and strategic direction[21][25]. - The company is committed to maintaining high standards of corporate governance and compliance, as evidenced by the qualifications of its board members[21][26]. - The company has a diverse board with expertise in various sectors, which supports its strategic decision-making processes[20][29]. - The company aims to leverage its management's extensive experience to drive growth and improve operational efficiency in the coming years[20][29]. Corporate Social Responsibility and ESG - The company emphasizes corporate social responsibility (CSR) as a key factor for long-term business success[136]. - The CSR committee is responsible for setting CSR strategies and overseeing the implementation of CSR initiatives[137]. - The company has engaged a third-party consultant for its Environmental, Social, and Governance (ESG) reporting, ensuring transparency in its ESG matters[133]. - The ESG report covers the group's operations in Huizhou, Guangdong Province, China, including newly acquired printing and circuit board businesses[139]. - The report period for the ESG activities spans from April 1, 2020, to March 31, 2021[142]. - The company values stakeholder feedback and incorporates it into its business operations and ESG strategies[145]. - The total greenhouse gas emissions for the reporting period amounted to 1,474.62 tons of CO2 equivalent, with a density of 0.10 tons of CO2 equivalent per square meter[162]. - The company reported direct emissions (Scope 1) of 110.50 tons of CO2 equivalent, primarily from gasoline and diesel combustion, and refrigerant emissions[162]. - The energy indirect emissions (Scope 2) from purchased electricity were 1,346.21 tons of CO2 equivalent[162]. - Air pollutant emissions included 6.03 kg of nitrogen oxides (NOx), 0.13 kg of sulfur oxides (SOx), and 0.44 kg of particulate matter (PM) for the year 2021[157]. - The company has implemented measures to reduce carbon footprint, encouraging employees to use public transport and video conferencing to minimize travel[159]. - The company has adhered to all relevant environmental laws and regulations, with no reported non-compliance regarding air and greenhouse gas emissions[154]. - The company’s wastewater is treated to meet Chinese standards before discharge, monitoring parameters such as chemical oxygen demand and heavy metal content[168]. - The company follows ISO 14001 environmental management standards to manage its operational impacts on the environment[154]. - The total hazardous waste generated by the group during the reporting period was 1.50 tons, with a density of 0.0001 tons per square meter[170]. - The total non-hazardous waste generated was 42.85 tons, with a density of 0.003 tons per square meter[174]. - The total energy consumption for the group was 2,730 MWh, with a density of 0.18 MWh per square meter[179]. - The total water consumption during the reporting period was 27,550 cubic meters, with a density of 1.82 cubic meters per square meter[182]. - The group has taken measures to reduce environmental impact, including wastewater treatment and air filtration[187]. Employee and Workplace Policies - The group employed a total of 262 full-time employees, with 261 from China and 1 from other regions[192]. - The employee composition by gender was 35% male and 65% female[191]. - The group has a competitive compensation and benefits system to attract and retain talent[194]. - The group has a transparent recruitment process to select qualified candidates based on their skills and potential to meet current and future business needs[197]. - Employee performance is regularly reviewed, influencing salary adjustments, bonus distribution, and promotions[198]. - The group adheres to a 40-hour work week, with overtime compensated by time off[198]. - Equal opportunities are provided in hiring, promotion, compensation, and training, with zero tolerance for discrimination[199]. - Open communication is encouraged to foster a positive work environment, including monthly birthday celebrations to enhance employee engagement[200].