Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 1,699,491, a decrease of 22.8% compared to HKD 2,204,673 in the previous year[22]. - The company experienced a pre-tax loss of HKD 45,806, compared to a loss of HKD 35,148 in the prior year[22]. - The net loss attributable to equity shareholders for the year was HKD 49,850, compared to a loss of HKD 44,593 in the previous year[22]. - Total revenue for the fiscal year ended March 31, 2024, was approximately HKD 1,699,000,000, a decrease of 22.9% compared to HKD 2,205,000,000 in the previous year[24]. - Total sales volume for the fiscal year was about 76,800 tons, down 4.0% from 80,000 tons in the previous year, reflecting weak demand[24]. - Gross profit for the fiscal year was HKD 67,700,000, with a gross margin of 4.0%, compared to a gross profit of HKD 77,300,000 and a gross margin of 3.5% in the previous year[24]. - The company recorded a loss attributable to equity shareholders of approximately HKD 49,700,000 for the fiscal year, compared to a loss of HKD 44,400,000 in the previous year[24]. - The company reported a total comprehensive loss of HKD 60,826, compared to a loss of HKD 41,517 in the previous year, reflecting a significant increase in losses[158]. - The company reported a net loss of HKD 49,694,000 for the year ending March 31, 2024, compared to a net loss of HKD 44,469,000 for the previous year, indicating an increase in losses of approximately 5.5%[164]. - Cash generated from operating activities decreased significantly to HKD 52,832,000 from HKD 185,545,000 in the previous year, representing a decline of approximately 71.5%[166]. Strategic Focus and Development - The company is focusing on innovation and sustainable development, establishing a strategic partnership with a university in Ningbo to create an advanced metal new materials application technology research institute[17]. - The company aims to expand its operations in mainland China and Southeast Asia, leveraging opportunities from the Belt and Road Initiative[17]. - Despite a weak recovery momentum in Q4 and a bleak economic growth outlook, the company remains cautiously optimistic about future prospects[17]. - The company is committed to enhancing its production capacity in Hong Kong to meet the growing demand for sustainable manufacturing[17]. - The company is focused on developing high-value products and exploring new metal applications to capitalize on the "Belt and Road" initiative[40]. - The company is committed to enhancing its green supply chain and disclosing carbon emission data to support clients' green transformation goals[39]. - The company has established a strategic partnership with a university to develop advanced metal materials, promoting innovation and technology advancement[33]. Governance and Compliance - The company emphasizes the importance of strict governance policies and professional integrity as the foundation for long-term success[17]. - The company emphasizes the importance of business ethics and has implemented measures to comply with the corporate governance code as per the Stock Exchange Listing Rules[60]. - The board believes that the company has complied with the corporate governance code during the fiscal year, with no known breaches[60]. - The corporate governance committee has reviewed the overall corporate governance practices, including policies and codes of conduct, to ensure compliance with the latest listing rule amendments[76]. - The board of directors has adopted the standard code of conduct for securities trading as per Appendix C3 of the listing rules, with no violations reported during the fiscal year[63]. - The company has implemented training programs to enhance employee awareness of corporate governance and compliance importance, contributing to continuous improvement[76]. - The board is composed of independent non-executive directors who have confirmed their independence, ensuring effective oversight and governance[65]. Risk Management - The company has identified significant risks including commodity price risk, currency risk, and liquidity risk, which are actively monitored and managed[88]. - The company employs a structured approach to risk management, utilizing scenario analysis and risk registers to prioritize and address potential risks[86]. - The company has established a whistleblowing policy to report any misconduct, enhancing internal control and governance[78]. - The board is responsible for overseeing the effectiveness of risk management and internal control systems, which are reviewed annually[84]. - The company is committed to continuous improvement of its risk management policies and procedures to enhance effectiveness[85]. - The audit committee and board found no significant deficiencies in internal controls during the fiscal year, affirming the robustness of the internal control system[85]. - The group has established a risk register to monitor commodity market, financial market, and economic indicators, ensuring effective risk management[90]. - Climate risk is classified as a significant risk, with management actively involved in mitigating its impact[93]. Financial Position and Assets - The company maintained a strong financial position with bank balances and cash of HKD 265,000,000 as of March 31, 2024[26]. - As of March 31, 2024, the company had cash and bank balances of approximately HKD 265 million, an increase from HKD 221 million in 2023[45]. - The company's capital debt ratio was 1.70% as of March 31, 2024, compared to 1.21% in 2023[45]. - The company’s total equity as of March 31, 2024, was HKD 812,912,000, down from HKD 873,582,000 the previous year, reflecting a decrease of approximately 7%[164]. - Total assets decreased to HKD 832,321 from HKD 894,206, indicating a reduction of 6.9%[160]. - Cash and cash equivalents increased to HKD 264,579 from HKD 221,000, showing a growth of 19.7%[160]. - Non-current assets decreased to HKD 181,605 from HKD 201,040, a decline of 9.7%[160]. Employee and Management - The company employed approximately 180 employees as of March 31, 2024, down from 190 in 2023[47]. - Employee costs, including director remuneration, were approximately HKD 64.6 million for the fiscal year, compared to HKD 67.8 million in 2023[47]. - The management team has extensive experience, with key members having over 30 years in finance, operations, and industry-specific roles[57][58]. - The management team is actively involved in strategic direction and future development, particularly in advanced manufacturing and technological innovation[51]. Environmental and Social Responsibility - The company has adopted its own environmental policy to mitigate negative operational impacts and enhance environmental awareness among employees and stakeholders[128]. - The group has been participating in the Environmental Protection Department's "Carbon Footprint Database" and "Carbon Audit - Green Organization" programs since 2015[128]. - The company produced approximately 237,240 kWh of renewable energy through a 200 kW solar power system during the fiscal year[30]. - The group has received multiple awards and certifications for its commitment to community service and environmental protection[127]. Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2024[139]. - The total audit fees for the fiscal year amounted to HKD 2,663,000, which includes HKD 2,120,000 for audit services and HKD 543,000 for non-audit services[80]. - The audit committee reviewed financial matters including annual and interim results, and internal controls, ensuring compliance with governance standards[78]. - The independent auditor communicates significant audit findings and any material weaknesses in internal controls to the audit committee[153]. Inventory Management - The total inventory value held by the company in Hong Kong and mainland China as of March 31, 2024, is HKD 179,000,000, including a provision of HKD 5,000,000[144]. - Inventory is valued at the lower of cost and net realizable value, with management assessing the required provision levels based on current commodity prices[144]. - The company identifies inventory valuation as a key audit matter due to the significant amount of inventory held and the management's substantial judgments involved in estimating future selling prices[144]. - The company maintains its inventory levels based on expected demand and anticipated future metal prices[144].

Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 1,699,491, a decrease of 22.8% from HKD 2,204,673 in the previous year[2] - The cost of sales for the same period was HKD 1,631,819, down from HKD 2,127,327, resulting in a gross profit of HKD 67,672, compared to HKD 77,346 in the prior year[2] - The company experienced an operating loss of HKD 48,063, which is an increase from the operating loss of HKD 30,507 in the previous year, indicating a deterioration in operational performance[3] - The net loss for the year was HKD 49,850, compared to a net loss of HKD 44,593 in the previous year, reflecting a 11.4% increase in losses[3] - Basic and diluted loss per share increased to HKD 6.00 from HKD 5.37, indicating a decline in shareholder value[3] - Total revenue for 2024 was HKD 1,699,491,000, a decrease of 22.8% from HKD 2,204,673,000 in 2023[21] - Operating loss before tax for the group was HKD 45,806,000 in 2024, compared to a loss of HKD 35,148,000 in 2023, reflecting a deterioration of 30.5%[23] - The basic loss per share for 2024 was HKD 6.00, compared to HKD 5.37 in 2023, indicating a 12.4% increase in loss per share[31] - The cost of inventory recognized as an expense was HKD 1,635,373,000 in 2024, down from HKD 2,128,867,000 in 2023, representing a reduction of 23.3%[36] - The group reported a total of HKD 12,075,000 in other income for 2024, a slight decrease from HKD 12,809,000 in 2023[23] - The fair value loss on investment properties was HKD 19,000,000 in 2024, compared to HKD 3,600,000 in 2023, indicating a significant increase in losses[34] - The total liabilities for the group were HKD 51,564,000 in 2024, compared to HKD 52,312,000 in 2023, showing a decrease of 1.4%[21] - The group did not recommend a final dividend for 2024, compared to a dividend of HKD 0.01 per share in 2023[29] Assets and Equity - Total assets decreased to HKD 832,321 from HKD 894,206, showing a reduction of 6.9% year-over-year[10] - The company's cash and cash equivalents increased to HKD 264,579 from HKD 221,000, representing a growth of 19.7%[10] - Non-current assets decreased to HKD 181,605 from HKD 201,040, a decline of 9.7%[10] - The company reported a total equity of HKD 812,598, down from HKD 873,424, indicating a decrease of 7% in total equity[11] - The group's assets in Hong Kong amounted to HKD 541,675,000 in 2024, slightly up from HKD 541,670,000 in 2023, while assets in mainland China decreased from HKD 384,066,000 to HKD 322,487,000[21] - Cash and cash equivalents at the end of the fiscal year totaled HKD 265,000,000, compared to HKD 221,000,000 in the previous year[47] - The group has approximately HKD 265 million in unrestricted cash and bank balances as of March 31, 2024, compared to HKD 221 million in 2023[68] Borrowings and Financing - The company’s bank borrowings increased to HKD 5,482,000, compared to HKD 2,750,000 in the previous year[42] - The average interest rate on bank borrowings rose to 6.99% in 2024 from 5.57% in 2023[43] - The financing cost for the fiscal year was HKD 400,000, significantly lower than HKD 5,900,000 in the previous year[47] - The group’s financing income/costs net amount was HKD 2,257,000 in 2024, a significant improvement from a cost of HKD 4,641,000 in 2023[24] - The capital debt ratio is 1.70% as of March 31, 2024, compared to 1.21% in 2023[68] - The current ratio stands at 2,144% as of March 31, 2024, down from 2,298% in 2023[68] Operational Focus and Strategy - The company continues to focus on trading zinc, nickel, aluminum, and related products, as well as providing metal testing and consulting services, which are key areas for future growth[13] - The company achieved a significant milestone by producing approximately 237,240 kWh of renewable energy through a 200 kW solar power system during the fiscal year[51] - The company has strategically allocated resources towards the research and development of sustainable products in response to the growing market demand[49] - The group aims to expand its influence in the Southeast Asian market, leveraging the "Belt and Road" initiative to meet the growing demand for quality metal products and technical consulting services[62] - The group is committed to building a green and sustainable supply chain, actively disclosing carbon emission data to support clients' green transformation goals[60] - The group has been awarded a sustainable development-linked loan from an international bank, reflecting its efforts in sustainability[57] Recognition and Partnerships - The group has established a strategic partnership with a university in Ningbo to develop advanced metal materials, enhancing its R&D capabilities[54] - The group received recognition as a "Technology Enterprise" from the Zhejiang Provincial Department of Science and Technology, highlighting its commitment to innovation[54] Governance and Audit - The company has adopted the standard code of conduct for directors' securities transactions as per Appendix C3 of the Listing Rules[74] - The audit committee has reviewed the full-year performance for the fiscal year[75] - KPMG has compared the preliminary announcement of the group's financial performance with the draft consolidated financial statements, and the amounts are consistent[77]

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 844,579,000, a decrease of 35.2% compared to HKD 1,304,497,000 in the same period of 2022[4] - Gross profit for the same period was HKD 36,523,000, down 30.9% from HKD 52,986,000 year-over-year[4] - The company reported a net loss of HKD 14,713,000 for the six months ended September 30, 2023, compared to a net loss of HKD 7,210,000 in the prior year, representing a 104.3% increase in losses[7] - Basic and diluted loss per share was HKD 1.77, compared to HKD 0.85 in the previous year, indicating a significant decline in earnings[4] - For the six months ended September 30, 2023, the company reported a total comprehensive loss of HKD 29,514,000, compared to a loss of HKD 36,986,000 for the same period in 2022, representing a 20% improvement[18] - The company incurred a loss of HKD 14,649,000 during the six months ended September 30, 2023, compared to a loss of HKD 7,008,000 in the previous year, indicating a worsening of 109%[18] - The group reported a pre-tax loss of HKD (12,891,000) for the six months ended September 30, 2023, compared to a loss of HKD (3,439,000) in the same period of 2022[31] - Basic loss per share for the six months ended September 30, 2023, was HKD 14,649,000, compared to a loss of HKD 7,008,000 in 2022[37] Assets and Liabilities - Total assets as of September 30, 2023, were HKD 864,568,000, a decrease from HKD 894,206,000 as of March 31, 2023[9] - The company’s total equity attributable to shareholders was HKD 844,068,000, down from HKD 873,582,000 as of March 31, 2023[12] - As of September 30, 2023, total equity stood at HKD 843,846,000, down from HKD 877,753,000 as of March 31, 2023, reflecting a decrease of approximately 4%[18] - Total assets as of September 30, 2023, were HKD 889,804,000, with liabilities of HKD 45,958,000[30] - Accounts payable decreased to HKD 11,144,000 from HKD 16,192,000, with payables within one month at HKD 1,439,000, down from HKD 5,119,000[46] - Bank borrowings remained stable at HKD 2,000,000 as of September 30, 2023, compared to HKD 2,750,000 as of March 31, 2023[47] Cash Flow and Financial Management - Cash and cash equivalents increased to HKD 266,758,000 from HKD 221,000,000, reflecting a positive cash flow trend[9] - Operating cash inflow for the six months ended September 30, 2023, was HKD 55,655,000, a decrease of 64% from HKD 156,928,000 in the previous year[20] - The net cash generated from operating activities was HKD 54,078,000, down 64% from HKD 148,569,000 in the prior year[20] - The company recorded a net cash increase of HKD 50,272,000 for the six months ended September 30, 2023, compared to HKD 112,959,000 in the same period last year, indicating a 55% decrease[20] - The company’s cash and cash equivalents at the end of the period were HKD 266,758,000, down from HKD 309,033,000 at the end of the previous year, a decrease of 14%[20] - The effective interest rate on bank borrowings increased to 6.67% as of September 30, 2023, from 5.57% as of March 31, 2023[48] - Financing costs decreased to HKD 300,000 from HKD 3.4 million in the previous period, indicating improved financial management[64] Inventory and Sales - Inventory decreased significantly to HKD 190,218,000 from HKD 279,578,000, indicating improved inventory management[9] - The cost of inventory recognized as an expense was HKD 809,092,000 for the six months ended September 30, 2023, down from HKD 1,246,076,000 in 2022[43] - Sales volume dropped by 15.9% to approximately 37,610 tons, compared to 44,730 tons in the previous year[62] Strategic Focus and Future Plans - The company plans to focus on market expansion and new product development to improve future performance[4] - The company is focusing on sustainable development strategies to enhance business resilience amid macroeconomic challenges[66] - The company is expanding its geographical coverage to meet the growing demand from local and multinational manufacturers in the ASEAN region[71] - The introduction of a new online defect diagnosis platform for die casting is expected to attract new customer segments[69] - The company is diversifying its service offerings, including professional consulting and expanded laboratory services, which have contributed to higher other income[69] - The group plans to continue investing in new production capacity and exploring opportunities in emerging industries, particularly in the medical field and other sectors[77] Governance and Shareholder Information - The board of directors does not recommend the distribution of an interim dividend for the period[78] - The company has a significant shareholder, Ms. Ma Xiaotao, holding 600,000,000 shares, representing 72.40% of the issued shares[88] - There were no purchases, sales, or redemptions of the company's shares during the interim period[90] - The company has adhered to the corporate governance code as per the Stock Exchange Listing Rules and is not aware of any violations during the interim period[91] - The company has adopted the standard code for securities transactions by directors and is not aware of any violations by directors during the interim period[92]

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文件的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本文件全部或任 何部份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。 （於開曼群島註冊成立之有限公司） （股份代號：637） 截至二零二三年九月三十日止六個月 中期業績公告 利記控股有限公司（「本公司」）董事會（「董事會」）謹此公佈本公司及其附屬公司（統 稱「利記」或「本集團」）截至二零二三年九月三十日止六個月（「中期」或「期內」）之 未經審核綜合業績，連同截至二零二二年九月三十日止六個月（「比較期間」）之比 較數字如下： 綜合損益表 截至二零二三年九月三十日止六個月－未經審核 截至九月三十日止六個月 附註 二零二三年 二零二二年 千港元 千港元 收益 4 844,579 1,304,497 銷售成本 (808,056) (1,251,511) 毛利 36,523 52,986 ...

Financial Performance - The company's revenue for the fiscal year ending March 31, 2023, was approximately HKD 2,205 million, a decrease of 14.0% compared to HKD 2,550 million for the previous year[22]. - The sales volume for the fiscal year was about 80,000 tons, down 17.4% from 96,790 tons in the previous year[23]. - The company recorded a loss attributable to equity shareholders of approximately HKD 44.4 million, compared to a profit of HKD 18.7 million in the previous year[23]. - Gross profit for the fiscal year was approximately HKD 77.3 million, with a gross margin of 3.5%, down from HKD 146 million and 5.7% in the previous year[23]. - The total assets as of March 31, 2023, were HKD 925.7 million, down from HKD 1,117.2 million in the previous year[22]. - The company maintained a strong financial position with cash and bank balances of HKD 221 million as of March 31, 2023[26]. - The company reported a total comprehensive loss of HKD 41,517 for the year, compared to a comprehensive income of HKD 29,579 in the previous year[150]. - The company incurred a loss of HKD 44,469,000 for the year, compared to a profit of HKD 18,657,000 in the previous year[156]. - The total equity attributable to equity shareholders decreased from HKD 923,263,000 in 2022 to HKD 873,582,000 in 2023, a decline of about 5.4%[156]. Operational Developments - The company implemented a new industrialization process in Hong Kong, enabling real-time data collection and exchange, improving production efficiency while saving energy[16]. - Automation was introduced in the casting production line at Ningbo, enhancing product stability and quality while ensuring employee safety[16]. - The launch of a new e-commerce platform by the company's subsidiary expanded customer channels and addressed local demand for water quality testing[17]. - The company is investing in a new production line in Hong Kong, expected to commence production in the third quarter of the current year[22]. - The group expanded its office in Thailand in 2022 to meet the growing demand for quality alloys and technical consulting services in Southeast Asia[29]. - The group launched a series of special alloys targeting key industrial sectors across Asia, optimizing its product mix to meet high-growth industry demands[31]. Sustainability and Environmental Initiatives - The company is assisting clients in advancing green production and integrating into future green supply chains, contributing to carbon footprint reduction[17]. - The company received several sustainability awards, including the "Environmental, Social and Governance Excellence Award" from the Hong Kong Listed Companies Association[17]. - The company plans to offer metal remelting services to help clients reduce their carbon footprint[17]. - The group generated 260,279 kWh of renewable energy from its 200 kW solar panels during the fiscal year[33]. - The group aims to reduce its environmental footprint through sustainable manufacturing initiatives, including the use of renewable energy and energy-efficient equipment[40]. - The company has adopted its own environmental policy aimed at minimizing negative operational impacts and enhancing environmental awareness among stakeholders[121]. - The company participates in the Environmental Protection Department's "Carbon Footprint Database" and "Carbon Audit - Green Organization" programs since 2015[121]. Governance and Management - The company has implemented specific measures to comply with the corporate governance code as per the Stock Exchange Listing Rules during the fiscal year[61]. - The board of directors is responsible for providing corporate leadership and ensuring long-term value for shareholders[63]. - The company has adopted the standard code for securities transactions by directors, with no reported violations during the fiscal year[62]. - The company has established a remuneration committee responsible for reviewing compensation terms and determining bonuses, consisting of three members, two of whom are independent non-executive directors[68]. - The nomination committee has reviewed the company's diversity policy and measurable targets, ensuring a balance of skills, experience, and diverse perspectives within the board[70]. - The company has adopted a compliance policy to handle potential insider information and public trading announcements, enhancing corporate governance awareness among employees[73]. Risk Management - Major risks identified include commodity price risk, currency risk, volume risk, credit risk, liquidity risk, cyber risk, and climate risk[82]. - The company employs stress testing to analyze commodity price and volume risks, acknowledging that these measures do not provide absolute guarantees[84]. - A dedicated team monitors currency, credit, and liquidity risks, utilizing hedging strategies to lock in favorable rates[85]. - The company has established a risk register to systematically prioritize and manage identified risks[86]. - The audit committee and board have confidence in the effectiveness of the risk management system, with no immediate concerns affecting financial and operational performance[86]. Employee and Community Engagement - Employee costs, including directors' remuneration, were approximately HKD 67.8 million for the year, up from HKD 66.5 million in 2022[47]. - The group employed approximately 190 employees as of March 31, 2023, an increase from 180 employees in 2022[47]. - Charitable and other donations made by the group during the year amounted to approximately HKD 71,000[101]. - The company emphasizes the importance of employee safety and has established a safety committee to ensure workplace safety[122]. - The company has received multiple awards and certifications for its commitment to community service and environmental protection[120]. Financial Reporting and Compliance - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and the relevant accounting principles, ensuring compliance with the Hong Kong Stock Exchange listing rules[161]. - The group did not apply any new standards or interpretations that are not yet effective for the current accounting period, indicating stability in accounting practices[164]. - The audit report confirms that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2023, in accordance with Hong Kong Financial Reporting Standards[132]. - The company has identified key audit matters and communicated them to the audit committee, ensuring transparency in the audit process[145].

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文件的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本文件 全部或任何部份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。 （於開曼群島註冊成立之有限公司） （股份代號：637） 截至二零二三年三月三十一日止年度 全年業績公告 利記控股有限公司（「本公司」）董事會（「董事會」）謹此公佈本公司及其附屬公 司（統稱「利記」或「本集團」）截至二零二三年三月三十一日止年度（「財政年度」 或「本年度」）之綜合業績，連同截至二零二二年三月三十一日止年度（「比較期 間」）之比較數字如下： 二零二三年 二零二二年 附註 千港元 千港元 收益 4 2,204,673 2,549,769 銷售成本 (2,127,327) (2,404,126) 毛利 77,346 145,643 其他收入 12,809 7,338 分銷及銷售開支 (27,394) (29,752) ...

Financial Performance - Revenue for the six months ended September 30, 2022, was HKD 1,304,497,000, an increase of 4.9% compared to HKD 1,243,843,000 in the same period of 2021[5] - The company reported a gross profit of HKD 52,986,000, down from HKD 64,401,000, resulting in a gross margin of approximately 4.1%[5] - Operating loss for the period was HKD 351,000, a significant decline from an operating profit of HKD 12,945,000 in the previous year[5] - The net loss attributable to equity shareholders was HKD 7,008,000, compared to a profit of HKD 8,041,000 in the same period last year[5] - Total comprehensive loss for the period amounted to HKD 37,188,000, compared to a total comprehensive income of HKD 13,903,000 in the prior year[9] - The company reported a net loss of HKD 7,008,000 for the six months ended September 30, 2022, compared to a loss of HKD 10,616,000 in the same period last year, indicating a 34.5% improvement in performance[22] - Total comprehensive income for the period was a loss of HKD 36,986,000, which includes other comprehensive losses of HKD 29,978,000[22] - Basic loss per share for the period was HKD (0.0084), compared to earnings of HKD 0.0097 per share in the same period of 2021[47] Assets and Liabilities - Current assets decreased to HKD 876,083,000 from HKD 950,847,000, primarily due to a reduction in inventory and receivables[12] - Cash and cash equivalents increased to HKD 309,033,000 from HKD 208,750,000, indicating improved liquidity[12] - Total liabilities decreased to HKD 151,274,000 from HKD 180,952,000, reflecting a reduction in payables and bank borrowings[12] - The company's net asset value decreased to HKD 877,753,000 from HKD 923,229,000, indicating a decline in overall equity[15] - The group's total assets as of September 30, 2022, amounted to HKD 1,041,181,000, while total liabilities were HKD 163,428,000[38] - The company's equity as of September 30, 2022, was HKD 877,989,000, down from HKD 923,263,000 at the beginning of the period[22] - The company reported a decrease in retained earnings to HKD 398,074,000 from HKD 405,082,000, reflecting ongoing operational challenges[22] Cash Flow and Financing - Operating cash inflow for the six months ended September 30, 2022, was HKD 156,928,000, a significant recovery from an outflow of HKD 85,840,000 in the previous year[25] - The company incurred a net cash outflow from investing activities of HKD 7,811,000, compared to HKD 43,338,000 in the prior year, reflecting improved investment management[25] - New bank borrowings amounted to HKD 416,401,000, while repayments totaled HKD 434,657,000, resulting in a net cash outflow from financing activities of HKD 27,799,000[25] - Cash and cash equivalents increased by HKD 112,959,000, ending the period at HKD 309,033,000, compared to HKD 174,776,000 at the end of the previous year[25] - Bank borrowings decreased to HKD 122,449,000 as of September 30, 2022, from HKD 140,705,000 as of March 31, 2022[59] - The effective interest rate on bank borrowings increased to 4.29% as of September 30, 2022, compared to 2.02% as of March 31, 2022[60] - The net financing costs for the period were HKD 3,088,000, significantly higher than HKD 795,000 in the previous year[41] Operational Strategy and Market Focus - The company plans to focus on enhancing operational efficiency and exploring new market opportunities to drive future growth[5] - The company continues to focus on its core business of trading metals and providing related services in Hong Kong and mainland China[28] - The company continues to optimize its product portfolio and expand into Southeast Asia, targeting key industrial sectors reliant on metal usage[98] - The implementation of the "Belt and Road" initiative is expected to provide further growth opportunities in the Greater China and Southeast Asia regions[98] - The group is strategically positioned to capitalize on opportunities in the Southeast Asian infrastructure investment landscape[103] - The group plans to expand its revenue sources by enhancing its consulting capabilities and service offerings in response to new alloy specifications required for green manufacturing and electric transportation[103] Expenses and Cost Management - Sales and distribution expenses increased by 10.7% to HKD 15,400,000 compared to the previous period[94] - General and administrative expenses rose by 6.8% to HKD 42,500,000 compared to the previous period[94] - Employee costs, including directors' remuneration, were approximately HKD 30.8 million for the interim period, compared to HKD 28.9 million for the same period last year[109] Shareholder and Governance Information - The group did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[44] - The board of directors does not recommend the distribution of an interim dividend[106] - Major shareholders hold 600,000,000 shares, representing 72.40% of the issued share capital[116] - The company did not purchase, sell, or redeem any of its shares during the interim period[119] - The company has complied with the corporate governance code as per the Stock Exchange Listing Rules[120] - No violations of the standard code for securities trading by directors were reported during the interim period[121] Market Outlook and Challenges - The group remains optimistic about the demand outlook for zinc and aluminum alloys despite ongoing external business challenges and market uncertainties[103] - The group is focusing on carbon reduction, resource efficiency, and responsible supply chains to meet increasing ESG awareness among enterprises[105] - The group continues to enhance its market positioning by increasing the range of customized alloys in its product portfolio[99]

Financial Performance - The company reported revenue of approximately HKD 2,549,769,000 for the fiscal year 2021/2022, representing a 30.6% increase from HKD 1,951,879,000 in the previous fiscal year[32]. - The sales volume for the fiscal year was approximately 96,790 tons, compared to 96,010 tons in the previous year, indicating stable performance despite market challenges[32]. - The gross profit for the fiscal year was HKD 146,000,000, with a gross margin of 5.7%, slightly down from a gross profit of HKD 113,000,000 and a margin of 5.8% in the previous year[33]. - The profit attributable to equity shareholders for the fiscal year was approximately HKD 18,700,000, an increase from HKD 16,900,000 in the previous year, driven by rising metal prices and optimized product offerings[33]. - The company reported a strong performance in the fiscal year 2021/2022, with significant contributions from its subsidiaries and a focus on enhancing professional knowledge in the metal industry[68]. - The annual profit for the year ended March 31, 2022, was HKD 18,539 million, an increase of 10.1% from HKD 16,842 million in the previous year[192]. - Total comprehensive income for the year was HKD 29,579 million, down 24.4% from HKD 39,125 million in the previous year[192]. Operational Challenges and Strategies - The fiscal year 2021/2022 was challenging due to supply chain instability and rising costs, yet the company maintained similar sales volumes despite these obstacles[13]. - Inflationary pressures may weaken consumer confidence, but the company remains cautiously optimistic about future growth prospects[16]. - The company aims to enhance operational flexibility and maintain compliance with local pandemic control measures across Asia[13]. - The company is actively managing metal price risks by adjusting inventory levels and implementing appropriate operational strategies[55]. - The company plans to continue evaluating and monitoring foreign exchange risks primarily arising from the HKD/USD and RMB exchange rate fluctuations[56]. Sustainability and Innovation - The company emphasized its commitment to sustainable development and innovation, adapting its operations to changing market conditions[13]. - The company is committed to digital transformation and advancing a green supply chain to achieve sustainable growth[19]. - The transition towards a greener supply chain is expected to increase demand for the company's metal solutions and testing services[16]. - The company is focused on developing new technologies and consulting services related to quality testing in water, metals, and building materials[14]. - The company has received recognition from multiple international green organizations, enhancing its competitive edge in the market[16]. - The company is committed to carbon neutrality and sustainable development, with initiatives to reduce carbon emissions and promote green supply chains[25]. - The group is committed to responsible sourcing and has made progress in carbon reduction and sustainable practices, including the installation of solar panels and the use of reusable packaging[41]. - The company has made significant progress in achieving previously set energy consumption and greenhouse gas emission targets[141]. - The company continues to explore opportunities to improve environmental performance in its business processes[141]. Governance and Management - The board of directors emphasizes the importance of corporate governance and has implemented measures to comply with the listing rules and corporate governance codes[71]. - The company has a diverse board composition, with members possessing over 25 years of experience in the securities and futures industry, enhancing its strategic decision-making capabilities[66]. - The company has appointed independent non-executive directors with extensive experience in finance and management, including Mr. Zhong Weiguo, who has over 30 years of experience in financial consulting and taxation[64]. - The company has established a remuneration committee responsible for reviewing compensation terms and approving recommendations for executive directors and senior management, with the committee comprising three members, two of whom are independent non-executive directors[78]. - The company has adopted a diversity policy ensuring a balanced mix of skills, experience, and perspectives on the board, achieving approximately 30% female and 70% male representation among board members[81]. Risk Management - Major risks identified include commodity price risk, currency risk, volume risk, credit risk, liquidity risk, cyber risk, and climate risk[96]. - The company has established a risk register to systematically prioritize and manage identified risks[99]. - The risk management framework includes continuous monitoring of commodity markets, financial markets, and economic indicators[94]. - The company has engaged an independent professional firm to assess its cybersecurity and has implemented recommendations to enhance cyber risk prevention[97]. - Climate risk is classified as a significant risk, with senior management involved in managing its impact[97]. Community and Social Responsibility - The company has received multiple awards and certifications for its community service and environmental protection efforts[140]. - Charitable and other donations made by the group during the fiscal year amounted to approximately HKD 99,000[117]. - The company’s environmental, social, and governance (ESG) report is available on its website, detailing its sustainable development initiatives and performance during the fiscal year[140].

Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 1,243,843,000, an increase of 43.9% compared to HKD 864,043,000 in the same period of 2020[4] - Gross profit for the same period was HKD 64,401,000, representing a 34% increase from HKD 48,063,000 in 2020[4] - Operating profit increased to HKD 12,945,000, up 62.8% from HKD 7,979,000 in the previous year[4] - Net profit for the period was HKD 7,967,000, a 47.1% increase compared to HKD 5,419,000 in 2020[4] - Basic and diluted earnings per share were HKD 0.97, compared to HKD 0.65 in the same period last year[4] - The group recorded a pre-tax profit of HKD 12,150,000 for the six months ended September 30, 2021, compared to HKD 7,684,000 in the same period of 2020, marking a significant increase[38] - The profit attributable to equity shareholders was approximately HKD 8,000,000, an increase from HKD 5,400,000 in the comparative period, marking a recovery in profit for two consecutive financial periods since the pandemic[79] Comprehensive Income - Total comprehensive income for the period was HKD 13,903,000, down from HKD 15,221,000 in 2020[8] - The company reported other comprehensive income of HKD 5,936,000 for the period, compared to HKD 5,936,000 in the previous year[21] Assets and Liabilities - Non-current assets increased to HKD 160,721,000 from HKD 119,418,000 as of March 31, 2021[11] - Inventory as of September 30, 2021, was HKD 452,820,000, up from HKD 386,698,000 at the end of March 2021[11] - Current liabilities increased to HKD 160,728,000 from HKD 128,766,000 as of March 31, 2021[11] - Total equity attributable to equity shareholders of the company was HKD 907,543,000, compared to HKD 901,854,000 as of March 31, 2021[14] - The total assets for the Hong Kong segment as of September 30, 2021, were HKD 672,144,000, and for the China segment, HKD 402,120,000, totaling HKD 1,074,264,000[37] - The group’s total liabilities as of September 30, 2021, were HKD 166,711,000, with HKD 102,861,000 from Hong Kong and HKD 63,850,000 from China[37] Cash Flow and Financing - The company incurred a cash outflow of HKD 43,338,000 from investing activities, compared to a cash outflow of HKD 313,000 in the prior year[25] - The company raised HKD 503,672,000 from new bank borrowings during the period, significantly higher than HKD 126,761,000 in the previous year[25] - The cash and cash equivalents decreased by HKD 114,462,000, compared to an increase of HKD 82,762,000 in the same period last year[25] - The group’s financing costs for the interim period were HKD 1,200,000, compared to HKD 800,000 in the comparative period[81] Inventory and Sales - Sales volume increased by approximately 6% to about 50,200 tons, up from 47,100 tons in the comparative period[79] - Inventory cost recognized as an expense for the six months ended September 30, 2021, was HKD 1,181,579,000, an increase of 37.5% from HKD 859,239,000 for the same period in 2020[51] - The group reported a significant increase in sales of zinc and related products, contributing to the overall revenue growth[33] Challenges and Strategic Initiatives - The company faced significant external challenges, including supply chain disruptions and rising logistics costs, yet maintained stable revenue[79] - The group anticipates ongoing challenges in recovery due to supply chain constraints and global energy challenges, but remains confident in the long-term demand for metals[90] - The group plans to expand its internal smart ordering platform to address logistics challenges and improve inventory planning[90] - The group has implemented digital technology investments to mitigate logistics disruptions and enhance operational efficiency[86] Employee and Management - As of September 30, 2021, the group employed approximately 190 employees, with employee costs for the six months ending September 30, 2021, amounting to HKD 28,900,000, an increase from HKD 26,500,000 for the same period in 2020[98] - The total remuneration for key management personnel increased to HKD 9,770,000 from HKD 6,259,000 in the previous year[70] Corporate Governance - The board confirmed compliance with the corporate governance code as per the listing rules, with no known violations during the interim period[110] - No new share options have been granted under the company's share option plans since their adoption, and all previously granted options have expired[108] - The company did not purchase, sell, or redeem any of its shares during the interim period[109] Sustainability and Development - The group continues to focus on sustainable development, including reducing emissions and responsible sourcing, and has achieved recognition for its sustainable procurement practices[89] - The group is diversifying its product offerings to meet the evolving demands of electric vehicles, smart devices, and other innovative applications[87]

Financial Performance - The group's revenue for the fiscal year was approximately HKD 1,951,879,000, an increase of 4.7% compared to HKD 1,864,166,000 in the previous period[45]. - Sales volume for the fiscal year reached 96,010 tons, rebounding by 7.3% from 89,460 tons in the prior period[47]. - The gross profit for the fiscal year was HKD 113,000,000, with a gross profit margin of 5.8%, significantly up from a gross profit of HKD 1,900,000 and a margin of 0.10% in the previous period[47]. - The company recorded a profit attributable to equity shareholders of approximately HKD 16,900,000, compared to a loss of HKD 128,000,000 in the previous period, driven by product diversification, stringent cost control, and a rebound in metal prices[48]. - Distribution and sales expenses for the fiscal year were HKD 24,200,000, maintaining similar levels compared to the previous period due to rigorous cost control measures[49]. - Financial costs decreased by 68.0% to approximately HKD 1,900,000, attributed to maintaining lower levels of bank borrowings during the fiscal year[52]. - The company maintained a strong financial position with bank balances and cash on hand of approximately HKD 288,000,000 as of March 31, 2021[53]. - The total assets of the company as of March 31, 2021, were HKD 1,036,062,000, a decrease from HKD 1,056,526,000 in the previous year[45]. - The net asset value of the company increased to HKD 901,938,000 from HKD 862,813,000 in the previous year[45]. - The liquidity ratio as of March 31, 2021, was 712%, an increase from 544% in 2020, reflecting a stronger liquidity position[75]. - The capital debt ratio as of March 31, 2021, was 10.0%, a decrease from 14.1% in 2020, indicating improved financial stability[75]. Strategic Focus - The company is optimistic about future growth opportunities in the post-pandemic world, particularly in green supply chains and sustainable products[21]. - The company emphasized the importance of environmental, social, and governance (ESG) principles in its business model to capture emerging growth opportunities[21]. - The company plans to accelerate technology adoption to gain a competitive advantage in the evolving market[21]. - The company is committed to digital transformation and sustainability as key strategies for overcoming ongoing challenges[21]. - The company is focusing on diversifying its business to provide customized and value-added services, particularly in advanced manufacturing sectors such as consumer electronics and smart electric vehicles[59]. - The company aims to continue its digital transformation to capture opportunities arising from the post-COVID-19 economic recovery in China[33]. - The group plans to expand its technical capabilities and service range in water quality and other testing services, aiming for stable and higher profit revenue[68]. Risk Management - The company has established a structured risk management system to assess and manage significant risks, including commodity price risk, currency risk, and credit risk[114]. - Climate risk has been classified as a significant risk for the first time this fiscal year, with senior management involved in its management[115]. - The company employs a dedicated team to monitor and report on currency risk and has implemented hedging strategies to lock in favorable interest rates[114]. - The risk register is continuously monitored to identify emerging risks and ensure effective governance over major risks[111]. - The company utilizes scenario analysis for risk modeling to reassess operational and risk management measures[111]. - The board and audit committee believe the group’s risk management system is effective and adequate for the fiscal year[119]. Corporate Governance - The board proposed a final dividend of HKD 0.01 per share, amounting to HKD 8.288 million, subject to shareholder approval[72]. - The board emphasizes the importance of business ethics and has implemented measures to comply with the corporate governance code[91]. - The company has adopted a diversity policy with measurable targets, including setting a minimum number of female board members to achieve board diversity[100]. - The nomination committee evaluated the independence of independent non-executive directors and reviewed the nomination policy and procedures during the fiscal year[100]. - The company established a governance committee to review and monitor corporate governance matters, including policies and codes of conduct[101]. - The audit committee reviewed financial matters including annual and interim results, risk management policies, and internal control systems during the fiscal year[103]. - The company has implemented a whistleblowing policy allowing employees to report any misconduct directly to the audit committee[103]. - The independent non-executive directors confirmed their independence from the group, ensuring compliance with governance standards[96]. Sustainability Initiatives - The company is committed to setting quantifiable carbon reduction targets as part of its sustainability initiatives[32]. - The group is committed to sustainable development and plans to introduce eco-friendly packaging while researching measures to reduce plastic usage[71]. - The company has adopted its own environmental policy aimed at minimizing negative operational impacts and enhancing environmental awareness among employees and stakeholders[158]. - The company participates in the Environmental Protection Department's "Carbon Footprint Database" and "Carbon Audit • Green Organization" programs since 2015[158]. - The company has received multiple prestigious international certifications, including GRS (Global Recycled Standard), enhancing its commitment to sustainable development[32]. - The group recognizes the opportunity to extend sustainability considerations throughout its supply chain[161]. Employee and Community Engagement - The company expresses gratitude to its customers, suppliers, and employees for their support during unprecedented times[22]. - The group employed approximately 180 employees as of March 31, 2021, with total employee costs (including directors' remuneration) around HKD 60.2 million, down from HKD 62.6 million in 2020[77]. - The company has established positive relationships with suppliers and customers, responding timely to their concerns and expectations[161]. - Charitable and other donations made by the group during the fiscal year amounted to approximately HKD 129,000[132]. - The company maintains open communication channels between employees and management, encouraging direct communication through various initiatives[159]. Audit and Compliance - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of March 31, 2021[171]. - The audit process involves identifying and assessing risks of material misstatement due to fraud or error and designing audit procedures to address these risks[198]. - The auditor assesses the appropriateness of accounting policies adopted by the board and the reasonableness of accounting estimates and related disclosures[199]. - The auditor evaluates the board's use of the going concern basis of accounting and identifies any significant uncertainties that may cast doubt on the group's ability to continue as a going concern[199]. - The auditor's conclusion is based on evidence obtained up to the date of the auditor's report, but future events may affect the group's ability to continue as a going concern[199].