Environmental Impact - Total hazardous waste increased to 131 tonnes in 2022 from 60 tonnes in 2021, representing a 118.3% increase[1]. - Hazardous waste intensity rose to 0.0041 tonnes per tonnes of adhesives produced in 2022, up from 0.0023 in 2021, indicating an increase of 78.3%[1]. - Total non-hazardous waste decreased significantly to 20 tonnes in 2022 from 267 tonnes in 2021, a reduction of 92.5%[1]. - Non-hazardous waste intensity improved to 0.0006 tonnes per tonnes of adhesives produced in 2022, down from 0.0103 in 2021, a decrease of 94.2%[1]. - Total sewage generated during the reporting period was approximately 46,403 tonnes, a reduction of around 7% compared to the previous year[5]. - Water consumption decreased to 59,640 cubic meters in 2022 from 72,156 cubic meters in 2021, a reduction of 17.3%[24]. Energy Consumption - Total energy consumption increased to 5,796 MWh in 2022 from 4,520 MWh in 2021, an increase of 28.2%[19]. - Direct energy consumption decreased slightly to 1,183 MWh in 2022 from 1,216 MWh in 2021, a decrease of 2.7%[19]. - Indirect energy consumption rose significantly to 4,613 MWh in 2022 from 3,304 MWh in 2021, an increase of 39.7%[19]. Financial Performance - The Group's revenue for the year ended 30 September 2022 was approximately HK$862,101,000, representing an increase of approximately 34.0% compared to HK$643,446,000 for the year ended 30 September 2021[81]. - The gross profit for the year ended 30 September 2022 was approximately HK$223,180,000, reflecting an increase of approximately 13.5% from HK$196,675,000 in the previous year[81]. - Profit attributable to owners of the Company rose by approximately 144.4%, from HK$41,463,000 in 2021 to HK$101,350,000 in 2022[82]. - Adjusted profit attributable to owners for 2022, excluding non-core items, is approximately HK$67,874,000, representing a 15.8% increase from HK$58,599,000 in 2021[82]. Corporate Governance - The Company complied with all applicable code provisions of the Corporate Governance Code for the year ended 30 September 2022, except for one deviation related to the "Chairman and Chief Executive" section[68]. - The Board held a total of 5 meetings during the year, with all executive directors attending 100% of the meetings[73]. - The Company has established various Board Committees, including the Remuneration Committee, Nomination Committee, and Audit Committee, to delegate specific responsibilities[71]. - The Board is responsible for corporate policy formulation, business strategic planning, risk management, and significant operational and financial matters[74]. - The Company ensures compliance with statutory requirements and maintains good corporate governance practices through continuous updates on regulatory developments[70]. Research and Development - The Group has established partnerships with international chemical corporations and technology experts to enhance its research and development capabilities[41]. - The Group's R&D efforts are focused on developing high-quality products to meet market needs and future industry demands[57]. - The Group collaborates with renowned chemical companies from Germany and Japan for new product development[57]. Market Outlook - The medium to long-term outlook indicates stable sales growth due to increasing global demand for footwear and environmental water-based adhesive products[42]. - The Board finds it challenging to predict sales performance for 2023 due to ongoing global pandemic effects and market uncertainties such as high inflation and decreased purchasing power[56]. - The Group maintains long-term relationships with prestigious customers, which is expected to support stable sales growth[42]. - The Group will continue to allocate necessary resources to increase market share as appropriate[42]. Employee Information - As of 30 September 2022, the Group employed a total of 396 employees, an increase from 356 employees as of 30 September 2021[90]. - For the year ended 30 September 2022, employee benefits expense amounted to approximately HK$92,581,000, compared to approximately HK$85,433,000 for the year ended 30 September 2021, reflecting an increase of about 8.4%[90]. Risk Management - The Group's risk management procedures aim to identify, evaluate, and manage risks effectively rather than eliminate all risks of failure[190]. - The Board conducted an annual review of its risk management and internal control effectiveness for the year ended September 30, 2022, with no significant areas of improvement identified[170]. - The Board is directly responsible for the risk management and internal control systems of the Group, supported by the Audit Committee[168].

Revenue and Profitability - Revenue for the six months ended March 31, 2022, was approximately HK$377,603,000, representing an increase of approximately 16.2% compared to HK$324,972,000 for the same period in 2021[12]. - The profit for the period attributable to the owners of the Company for the six months ended 31 March 2022 was approximately HK$54,083,000, representing an increase of approximately 81.7% compared to HK$29,760,000 for the same period in 2021[15]. - Excluding a one-off non-recurring gain on the disposal of properties of approximately HK$32,692,000, the adjusted profit for the period would be approximately HK$21,391,000, representing a decrease of approximately 28.1% compared to the previous year's HK$29,760,000[15]. - Profit from operations increased to HK$57,586,000, a 58.6% rise compared to HK$36,339,000 in the previous year[78]. - Profit before tax for the period was HK$57,480,000, up 68.8% from HK$34,044,000 in the prior year[78]. - Basic earnings per share rose to HK9.60 cents, compared to HK5.28 cents in the previous year, reflecting a 81.7% increase[78]. - Total comprehensive income for the period attributable to the owners of the Company was HK$58,950,000, up 75.5% from HK$33,579,000 in the prior year[87]. Costs and Expenses - Gross profit for the same period decreased to approximately HK$90,789,000, a decline of approximately 18.7% from HK$111,618,000 in 2021[12]. - The decrease in gross profit was primarily due to increased costs of purchase for the six months ended March 31, 2022[12]. - Selling and distribution costs remained stable at approximately HK$23,535,000 for the six months ended March 31, 2022, compared to HK$22,323,000 in 2021[12]. - Administrative expenses decreased by approximately 25.7% to approximately HK$39,222,000 from HK$52,790,000 in the previous year[12]. - The employee benefits expense for the six months ended March 31, 2022, amounted to approximately HK$43,116,000, down from approximately HK$48,087,000 for the same period in 2021[30]. Financial Position - As of March 31, 2022, the Group had interest-bearing bank borrowings of approximately HK$30,000,000, down from approximately HK$37,798,000 as of September 30, 2021[26]. - The Group's gearing ratio as of March 31, 2022, was approximately 8.0%, compared to approximately 9.6% as of September 30, 2021[26]. - The current ratio of the Group as of March 31, 2022, was approximately 2.6, down from approximately 3.1 as of September 30, 2021[26]. - Current assets increased to HK$581,833,000, compared to HK$477,483,000 as of September 30, 2021, marking a 21.8% growth[90]. - Current liabilities rose to HK$220,885,000, up from HK$154,580,000, indicating a 42.7% increase[90]. - Net current assets improved to HK$360,948,000, compared to HK$322,903,000 as of September 30, 2021, reflecting an 11.8% increase[90]. - Total non-current liabilities decreased from HK$12,118,000 to HK$8,005,000, a reduction of approximately 34.7%[95]. - Net assets increased from HK$428,542,000 to HK$471,718,000, representing an increase of about 10.1%[95]. - Total equity rose from HK$428,542,000 to HK$471,718,000, marking an increase of approximately 10.1%[95]. - Cash and cash equivalents at the end of the period increased to HK$198,588,000 from HK$112,813,000, a growth of about 76.0%[100]. Investments and Dividends - An interim dividend of HK1.9 cents per ordinary share has been declared for the six months ended 31 March 2022, down from HK2.7 cents in the same period last year[36]. - The final dividend for the year ended 30 September 2021 was approved at HK2.3 cents per ordinary share, down from HK5.2 cents in the previous year, totaling HK$12,957,000[134]. - An interim dividend of HK1.9 cents per ordinary share was declared for the six months ended 31 March 2022, totaling approximately HK$10,704,000, compared to HK$15,210,000 for the same period in 2021[141]. Market and Operational Strategy - The increase in revenue was driven by contributions across all geographic regions for the six months ended March 31, 2022[12]. - The company aims to continue exploring market expansion opportunities and enhancing operational efficiency in the upcoming periods[12]. - Future product development and technological advancements are being prioritized to strengthen the company's market position[12]. - The Group plans to tighten control over operating costs in the short term due to uncertainties from the persistent epidemic effect[15]. - The Board expects stable sales growth in the medium to long term due to increasing global demand for footwear and stringent quality requirements for adhesives[19]. - The Group will continue to invest in its core business and consider developing its OEM business to broaden its revenue base[20]. Corporate Governance and Compliance - The Company complied with the Corporate Governance Code provisions for the six months ended 31 March 2022[37]. - The Board believes that having the same individual as chairman and CEO provides strong and consistent leadership for the Group[38]. - All Directors confirmed compliance with the Model Code for Securities Transactions throughout the reporting period[40]. Research and Development - The Group collaborates with international chemical corporations and technology experts to enhance its research and development capabilities and maintain a technological leading position in the industry[17]. Shareholding and Management - Mr. Ieong Un holds a long position of 342,500,000 shares (60.80%) through All Reach Investments Limited and an additional 78,818,769 shares (13.99%) as a beneficial owner[48]. - The total interests beneficially held by Mr. Ieong Un amount to 78,818,769 shares[60]. - Mrs. Chan Sut Kuan, as the spouse of Mr. Ieong Un, has an interest in 421,318,769 shares, which is about 74.79% of the total shares[57]. - Key management personnel remuneration increased to HK$13,019,000 for the six months ended 31 March 2022, up from HK$12,752,000 in the previous year, representing a growth of 2.1%[163]. - Directors' emoluments rose to HK$9,493,000 for the six months ended 31 March 2022, compared to HK$9,042,000 in the same period last year, reflecting an increase of 5.0%[165]. Assets and Liabilities - The Group's financial assets at fair value through other comprehensive income (FVTOCI) include listed equity securities valued at HK$3,752,000 and listed debt securities valued at HK$1,456,000, totaling HK$5,208,000 as of 31 March 2022[109]. - The ageing analysis of trade receivables shows that as of March 31, 2022, the total amount was HK$223,350,000, an increase from HK$162,717,000 as of September 30, 2021[148]. - Trade payables aged 0 to 90 days as of March 31, 2022, were HK$74,630,000, compared to HK$28,118,000 as of September 30, 2021[155]. - The Group did not have any significant contingent liabilities as of March 31, 2022[28]. - The Group's lease liabilities increased to approximately HK$7,535,000 as of March 31, 2022, from approximately HK$3,354,000 as of September 30, 2021[26]. Miscellaneous - The Group did not have any significant investments, material acquisitions, or disposals for the six months ended March 31, 2022[28]. - The company expresses gratitude to patrons, suppliers, business partners, and shareholders for their support during the period[66]. - The company operates under the community property regime according to Macau laws[58]. - The Group operates in a single segment focused on manufacturing and selling adhesive products for footwear manufacturers[119].

Financial Performance - The Group's revenue for the year ended 30 September 2021 was approximately HK$643,446,000, representing an increase of approximately 18.3% compared to HK$543,968,000 for the year ended 30 September 2020[12]. - The net profit for the year ended 30 September 2021 was approximately HK$41,463,000, a decrease of approximately 26.0% from HK$56,018,000 for the previous year[12]. - The gross profit for the year ended 30 September 2021 was approximately HK$196,675,000, remaining relatively stable compared to approximately HK$190,653,000 for the year ended 30 September 2020[21]. - The increase in revenue was primarily driven by contributions from all regions for the year ended 30 September 2021[21]. - Administrative expenses increased by approximately 14.0% to HK$89,161,000 for the year ended 30 September 2021, up from HK$78,186,000 in the previous year[30]. - Selling and distribution costs remained stable at approximately HK$44,663,000 for the year ended 30 September 2021, compared to approximately HK$47,193,000 in the previous year[29]. Dividends - The Board declared a 2021 interim dividend of HK2.7 cents per ordinary share, with a final dividend of HK2.3 cents and a special dividend of HK0.5 cents recommended, totaling HK5.5 cents for the year[13]. - The Company has adopted a dividend policy to allow shareholders to participate in profits while retaining adequate reserves for future growth[151]. - The Board will consider factors such as actual and expected financial performance, available surplus, and working capital when declaring dividends[154]. - The Company does not have a pre-determined dividend distribution ratio, and past dividend records may not be used as a reference for future dividends[154]. - Any final or special dividends must be approved by Shareholders at a general meeting and cannot exceed the amount recommended by the Board[154]. - The Company reserves the right to update or modify its Dividend Policy at any time without it constituting a legally binding commitment[154]. Borrowings and Financial Ratios - The Group had interest-bearing bank borrowings of approximately HK$37,798,000 as of 30 September 2021, an increase from approximately HK$33,880,000 in the previous year[46]. - The Group's gearing ratio as of September 30, 2021, was approximately 9.6%, compared to approximately 9.2% as of September 30, 2020[53]. - The current ratio of the Group improved to approximately 3.1 as of September 30, 2021, up from approximately 2.6 as of September 30, 2020[53]. - The Group had restricted bank deposits of approximately HK$17,328,000 as of September 30, 2021, compared to approximately HK$6,725,000 as of September 30, 2020[53]. Operational Outlook - The short to medium-term outlook remains uncertain due to the ongoing effects of the epidemic, making sales performance predictions for 2022 challenging[42]. - The medium to long-term outlook is stable, with expected growth in sales driven by increasing global demand for footwear and stringent quality requirements for adhesives[43]. - The Group will continue to monitor working capital management closely and adjust business strategies as needed in response to market developments and the epidemic[45]. - The Group plans to adjust its business strategies as necessary in response to developments in the footwear manufacturing industry and the ongoing impact of the pandemic[48]. Corporate Governance - The Company complied with all applicable code provisions of the Corporate Governance Code as of 30 September 2021, except for one deviation related to the "Chairman and Chief Executive" section[64]. - The Board is responsible for corporate policy formulation, business strategic planning, and risk management, among other significant operational and financial matters[64]. - The Board currently comprises seven members, including four executive Directors and three independent non-executive Directors[69]. - The Group has established various Board Committees to delegate responsibilities for corporate governance duties[66]. - The Company has arranged for appropriate insurance cover for Directors' and officers' liabilities arising from corporate activities[68]. Environmental, Social, and Governance (ESG) Initiatives - The Group aims to provide reliable, consistent, and comparable ESG information to stakeholders[168]. - The Group established an Environmental, Social and Governance Working Group to manage ESG issues and performance, with its first meeting held on September 9, 2021[1]. - The Group's environmental management system has been accredited with ISO 14001:2015 certification, ensuring compliance with environmental standards[188]. - The Group is committed to improving internal data collection procedures and gradually expanding the scope of disclosure[172]. - The Group aims to enhance stakeholder engagement through various channels, including annual reports and meetings[1]. Emission Reduction and Environmental Compliance - The Group aims to reduce all emissions, including air pollutants and greenhouse gases, by 3% compared to the reporting period before 2026[188]. - The Group adheres strictly to national and local air emission standards, ensuring compliance with various environmental laws[190]. - Continuous education and training on occupational safety and environmental protection are provided to employees and customers[188]. - The Group is dedicated to the research and development of ecologically sound and occupationally safe products[188]. - Significant decrease in air emissions was noted due to the transition from a company-owned vehicle fleet to outsourced transportation services[198].

Financial Performance - The revenue for the six months ended March 31, 2021, was approximately HK$324,972,000, compared to HK$306,832,000 for the same period in 2020, showing stability [9]. - The gross profit for the same period was approximately HK$111,618,000, up from HK$105,124,000 in 2020, indicating a stable performance [9]. - Profit attributable to the owners of the Company for the six months ended March 31, 2021 was approximately HK$29,760,000, representing an increase of approximately 60.5% from HK$18,546,000 in 2020 [11]. - Total comprehensive income for the period attributable to the owners of the Company was HK$33,579,000, compared to HK$16,484,000 in the previous year, marking a growth of 103.5% [68]. - Basic earnings per share increased to HK5.28 cents from HK3.19 cents, reflecting a growth of 65.5% [66]. Cost Management - Selling and distribution costs decreased by approximately 10.2%, from HK$24,851,000 in 2020 to HK$22,323,000 in 2021, attributed to tightened cost control due to COVID-19 [9]. - Administrative expenses remained relatively stable at approximately HK$52,790,000 in 2021 compared to HK$53,097,000 in 2020 [9]. - The company continues to focus on cost control measures in response to the ongoing impacts of COVID-19 [9]. - Employee benefits expense for the six months ended March 31, 2021, amounted to approximately HK$48,087,000, an increase from approximately HK$39,028,000 for the same period in 2020 [24]. Operational Stability - The Group's financial performance remained stable despite external challenges, reflecting resilience in operations [9]. - Future outlook includes maintaining operational stability and exploring potential market opportunities [9]. - The Group operates 3 manufacturing plants located in the PRC, Vietnam, and Indonesia, with plans to expand facilities to meet customer needs [11]. Investments and Assets - The Group is committed to enhancing its investment property portfolio while managing costs effectively [9]. - As of March 31, 2021, the Group had interest-bearing bank borrowings of approximately HK$2,306,000, a significant decrease from approximately HK$33,880,000 as of September 30, 2020 [20]. - The Group's gearing ratio as of March 31, 2021, was approximately 1.5%, down from approximately 9.2% as of September 30, 2020 [20]. - The Group had capital commitments of approximately HK$987,000 for acquisitions of property, plant, and equipment, up from approximately HK$889,000 as of September 30, 2020 [22]. Revenue Breakdown - Revenue from the People's Republic of China was HK$43,753,000, up from HK$41,701,000, reflecting a growth of 4.9% [95]. - Revenue from Vietnam increased to HK$222,402,000, compared to HK$209,889,000, marking an increase of 5.7% [95]. - Revenue from Indonesia rose to HK$24,392,000, up from HK$21,285,000, representing a growth of 14.8% [95]. - Revenue from Bangladesh was HK$34,425,000, slightly increasing from HK$33,957,000, which is a growth of 1.4% [95]. Shareholder Information - The Board declared an interim dividend of HKD 2.7 cents per share for the six months ended March 31, 2021, compared to no dividend for the same period in 2020 [30]. - Mr. Ieong Un holds a long position of 342,500,000 shares, representing approximately 60.80% of the shareholding [33]. - Mrs. Chan Sut Kuan, as the spouse of Mr. Ieong Un, is deemed to be interested in 421,318,769 shares, representing approximately 74.79% of the company's total shareholding [48]. Compliance and Governance - The Company complied with the Corporate Governance Code provisions for the six months ended March 31, 2021 [30]. - The audit committee reviewed the condensed consolidated financial statements for the six months ended March 31, 2021, in accordance with Hong Kong Standard on Review Engagements 2410 [52]. - The independent auditor, RSM Hong Kong, conducted a review of the interim financial information for compliance with relevant provisions and accounting standards [59]. Future Outlook - The short to medium term outlook remains uncertain due to the persistent effects of the epidemic, making sales performance predictions challenging [14]. - The medium to long term outlook is stable, driven by growing global demand for footwear and increasing quality requirements for adhesives [15]. - The Group will continue to invest in its core business and consider developing its OEM business to broaden its revenue base [16].

Financial Performance - The Group's revenue for the year ended 30 September 2020 was approximately HK$543,968,000, a decrease of approximately 21.4% compared to HK$691,750,000 in 2019[10]. - The net profit for the year ended 30 September 2020 was approximately HK$56,018,000, representing a decrease of approximately 15.2% from HK$66,035,000 in 2019[10]. - The gross profit for the year ended 30 September 2020 was approximately HK$190,653,000, down approximately 16.5% from HK$228,260,000 in 2019[20]. - The decrease in revenue was primarily due to the impact of COVID-19 and the disposal of subsidiaries in the previous year[19]. - Selling and distribution costs decreased to approximately HK$47,193,000 for the year ended 30 September 2020, down about 24.2% from approximately HK$62,248,000 in 2019[21]. - Administrative expenses were approximately HK$78,186,000 for the year ended 30 September 2020, a decrease of about 24.0% from approximately HK$102,886,000 in the previous year[21]. - The Group reported a net profit of approximately HK$56,018,000 for the year ended 30 September 2020, compared to approximately HK$66,035,000 for the year ended 30 September 2019[28]. Dividends and Shareholder Communication - The Board has recommended a final dividend of HK5.2 cents per ordinary share for the year ended 30 September 2020, unchanged from 2019[11]. - The annual report was presented to shareholders on 23 December 2020[17]. - The Company has adopted a Dividend Policy to allow shareholders to participate in profits while retaining adequate reserves for future growth[94]. - The Board considers various factors, including financial performance and working capital requirements, when declaring dividends[96]. - The Company does not have a pre-determined dividend distribution ratio, and past dividend records may not be indicative of future distributions[96]. Market Outlook and Strategy - The Group's management will continue to monitor market conditions and adjust strategies accordingly[19]. - The Board expects stable sales growth in the medium to long term due to increasing global demand for footwear and environmental adhesive products[33]. - The Group aims to broaden its revenue base by proactively investing in and developing its OEM business[34]. - The Group plans to consider further expansion of its manufacturing facilities to meet customer needs[28]. - The Group plans to continue investing necessary resources to enhance its market share in response to market changes[37]. Risk Management and Corporate Governance - The Company complied with all applicable code provisions of the Corporate Governance Code during the year ended 30 September 2020, except for one deviation related to the "Chairman and Chief Executive" section[49]. - The Board is responsible for the leadership and control of the Group, overseeing its businesses, strategic decisions, and performance[49]. - The Audit Committee held three meetings during the year ended 30 September 2020 to discuss the audit plan and review the Group's financial results for the year and the six months ended 31 March 2020[70]. - The Company has established procedures for handling inside information and is committed to disclosing such information to the public as soon as reasonably practicable[89][92]. - The Group's risk management and internal control procedures aim to safeguard assets against misappropriations and ensure reliable accounting records for financial information[86]. Environmental and Social Responsibility - The Group's environmental management system was accredited with ISO 14001:2015, demonstrating its commitment to sustainable development[107]. - The Group is dedicated to the research and development of products that are both ecologically sound and occupationally safe, promoting the use of environmentally friendly products[107]. - The Group emphasizes the importance of social corporate responsibility by addressing the needs of different stakeholders[200]. - The Group is committed to sustainable development and actively contributes to the community where it operates[200]. - The Group has been involved in educational initiatives in impoverished areas since 2006, including the construction of Youxin Peimiao Dingan Primary School in Teng County, Guangxi[200]. Employee Welfare and Safety - The Group emphasizes the importance of employee health and safety, providing facilities such as an outdoor basketball court and swimming pool to promote a healthy workplace[160][161]. - The Group has established safety policies to prevent accidents and conducts regular safety inspections to identify potential hazards in the workplace[162][163]. - During the year ended September 30, 2020, there were no reported occurrences of fatal accidents, reflecting a commitment to workplace safety[171]. - The Group provides additional benefits beyond legal requirements to support employee welfare and social responsibility[145][147]. - The Group actively recruits employees from diverse backgrounds to enhance corporate culture and maintain competitiveness in the labor market[152]. Compliance and Ethical Standards - The Group did not identify any material noncompliance or breach of relevant laws and regulations regarding child labor and forced labor during the year ended September 30, 2020[180]. - The Group has a zero-tolerance policy for corruption and did not identify any material issues related to corruption during the year ended September 30, 2020[193]. - The Group is committed to product safety management, providing clear instructions and accurate labeling to customers, with no material issues identified in product health and safety during the year ended September 30, 2020[193].

Revenue and Profitability - The revenue of Infinity Development Holdings Company Limited decreased by approximately 16.3% from approximately HK$366,478,000 for the six months ended March 31, 2019, to approximately HK$306,832,000 for the six months ended March 31, 2020[9]. - The gross profit for the six months ended March 31, 2020, was approximately HK$105,124,000, remaining relatively stable compared to approximately HK$106,279,000 for the same period in 2019[9]. - For the six months ended 31 March 2020, the Group reported a net profit of approximately HK$18,546,000, compared to approximately HK$15,612,000 for the same period in 2019, reflecting an increase of about 12.3%[11]. - Profit from operations increased to HK$23,441,000, up 57.5% from HK$14,914,000 in the previous year[68]. - Profit for the period was HK$18,546,000, representing a 18.5% increase from HK$15,612,000 in 2019[70]. Cost Management - Selling and distribution costs decreased by approximately 28.9% from approximately HK$34,976,000 during the six months ended March 31, 2019, to approximately HK$24,851,000 during the six months ended March 31, 2020[9]. - Administrative expenses for the six months ended March 31, 2020, were approximately HK$53,097,000, down from approximately HK$57,454,000 for the same period in 2019, representing a decrease of approximately 26.9% when excluding allowances for receivables[9]. - The company reported stable gross profit despite a decrease in revenue, indicating effective cost management strategies[9]. - The significant reduction in selling and distribution costs reflects the impact of the previous year's subsidiary disposals[9]. - The Group is committed to cost control measures, actively reviewing costs and resources in response to the uncertainties caused by the current epidemic[11]. Operational Efficiency - The financial review highlights the company's focus on maintaining operational efficiency amid revenue challenges[9]. - The Group operates in a single segment focused on manufacturing and selling adhesives and related products for footwear manufacturers[111]. - The Group has established partnerships with international chemical corporations and technology experts to enhance its research and development capabilities[13]. Market Outlook - The medium to long-term outlook indicates stable sales growth due to increasing global demand for footwear and stringent quality requirements for adhesives[15][16]. - The Board finds it challenging to predict sales performance for 2020 due to the ongoing impact of the epidemic on the market[15]. Financial Position - As of March 31, 2020, the Group had total interest-bearing bank borrowings of approximately HK$11,668,000, compared to nil as of September 30, 2019[20]. - The Group's gearing ratio as of March 31, 2020, was approximately 3.1%, up from nil as of September 30, 2019[20]. - The current ratio of the Group as of March 31, 2020, was approximately 2.5, down from approximately 2.9 as of September 30, 2019[20]. - The Group's total non-current assets were HK$202,817,000 as of March 31, 2020, slightly down from HK$207,731,000 as of September 30, 2019[118]. - Net assets decreased to HK$380,246,000 from HK$408,981,000, reflecting a decline in overall equity[78]. Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended March 31, 2020[34]. - The company repurchased and cancelled a total of 17,424,000 ordinary shares in March 2020[34]. - As of March 31, 2020, Mr. Ieong Un holds 342,500,000 shares, representing approximately 60.80% of the company's total shares[38]. - The total interests beneficially held by Mr. Ieong Un amount to 78,902,769 shares[52]. Compliance and Governance - The company complied with the Corporate Governance Code during the six months ended March 31, 2020[34]. - The board believes that having the chairman and CEO roles combined does not impair the balance of power and authority[34]. - The company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as its code of conduct[34]. COVID-19 Impact - The outbreak of COVID-19 in early 2020 has impacted the company's operating results, prompting management to implement precautionary measures[157]. - The company will closely monitor the development of COVID-19 and evaluate its impact on financial position and operating results[157]. Financial Reporting Standards - The Group adopted all new and revised Hong Kong Financial Reporting Standards effective from 1 October 2019, including HKFRS 16 "Leases," which requires recognition of a right-of-use asset and lease liability for all leases[88]. - The adoption of HKFRS 16 resulted in the recognition of right-of-use assets and lease liabilities, with no material impact on reported profit from operations compared to HKAS 17[105].

Financial Performance - The revenue of Infinity Development Holdings Company Limited decreased by approximately 16.3% from approximately HK$366,478,000 during the six months ended 31 March 2019 to approximately HK$306,832,000 during the six months ended 31 March 2020[8]. - The gross profit for the six months ended 31 March 2020 was approximately HK$105,124,000, remaining relatively stable compared to approximately HK$106,279,000 for the same period in 2019[8]. - The Group reported a net profit of approximately HK$18,546,000 for the six months ended 31 March 2020, compared to approximately HK$15,612,000 for the same period in 2019, representing an increase of about 12.3%[10]. - Profit from operations increased to HK$23,441,000, up 57.5% from HK$14,914,000 in the previous year[67]. - Profit for the period was HK$18,546,000, representing a 18.5% increase from HK$15,612,000 in 2019[69]. - Total comprehensive income for the period was HK$16,484,000, down from HK$20,557,000 in 2019, reflecting a decrease of 19.8%[70]. Cost Management - Selling and distribution costs decreased by approximately 28.9% from approximately HK$34,976,000 during the six months ended 31 March 2019 to approximately HK$24,851,000 during the six months ended 31 March 2020[8]. - Administrative expenses for the six months ended 31 March 2020 were approximately HK$53,097,000, down from approximately HK$57,454,000 in 2019, representing a decrease of approximately 26.9% when excluding allowances for receivables[8]. - The company plans to focus on cost reduction strategies to improve profitability in the upcoming periods[8]. Market and Strategic Outlook - Future outlook includes potential market expansion opportunities in the Greater Bay Area[8]. - The company is exploring new product development initiatives to enhance its service offerings[8]. - The management is considering strategic acquisitions to strengthen its market position[8]. - The medium to long-term outlook is positive, with expected stable growth in sales driven by increasing global demand for footwear and stringent quality requirements for adhesives[15][17]. Financial Position - As of March 31, 2020, the Group had total interest-bearing bank borrowings of approximately HK$11,668,000, compared to nil as of September 30, 2019[19]. - The Group's gearing ratio as of March 31, 2020, was approximately 3.1%, up from nil as of September 30, 2019[19]. - The current ratio of the Group as of March 31, 2020, was approximately 2.5, down from approximately 2.9 as of September 30, 2019[19]. - The Group's total non-current assets decreased to HK$202,817,000 from HK$207,731,000, a decline of 2.2%[74]. - Net assets decreased to HK$380,246,000 from HK$408,981,000, reflecting a decline of 7.0%[77]. Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended March 31, 2020[33]. - The company repurchased and cancelled a total of 17,424,000 ordinary shares in March 2020[33]. - As of March 31, 2020, Mr. Ieong Un holds 342,500,000 shares, representing approximately 60.80% of the company's total shareholding[37]. - The final dividend declared was HK5.2 cents per ordinary share, totaling approximately HK$30,200,000, compared to HK$15,605,000 for the same period in 2019, reflecting a 93.5% increase[127]. Compliance and Governance - The company complied with the Corporate Governance Code during the six months ended March 31, 2020[34]. - The roles of chairman and chief executive officer are held by Mr. Ieong Un, who is the founder and substantial shareholder of the company[34]. - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers as its code of conduct[33]. Operational Insights - The Group is engaged in the manufacturing and selling of adhesives and related products for footwear manufacturers, with three manufacturing plants located in China, Vietnam, and Indonesia as of 31 March 2020[10]. - The Group plans to consider further expansion of its manufacturing facilities to meet the needs of its prestigious customers[10]. - The Group is committed to research and development, collaborating with international chemical corporations and technology experts to enhance its product offerings and maintain technological leadership in the industry[12][13]. Impact of COVID-19 - The operating results of the Group were affected by the COVID-19 outbreak, with management implementing precautionary measures to mitigate impacts[156]. - The short to medium-term outlook remains uncertain due to the ongoing global epidemic, making it difficult to predict sales performance for 2020[14].

Financial Performance - The Group recorded a revenue increase of approximately 4.3%, from approximately HK$663,036,000 in the year ended 30 September 2018 to approximately HK$691,750,000 in the year ended 30 September 2019[8] - The net profit increased by approximately 63.8%, from approximately HK$40,311,000 in the year ended 30 September 2018 to approximately HK$66,035,000 in the year ended 30 September 2019[8] - Gross profit increased by approximately 17.9%, from approximately HK$193,682,000 to approximately HK$228,260,000 during the same period[10] - The net profit for the year ended 30 September 2019 was approximately HK$66,035,000, compared to approximately HK$40,311,000 for the year ended 30 September 2018[12] - The Board recommended a final dividend of HK5.2 cents per ordinary share for the year ended 30 September 2019, compared to HK2.6 cents in 2018[8] Operational Efficiency - The Group aims to enhance its market share and broaden its revenue base by investing in and developing its OEM business[23] - The Group will focus on improving operational efficiency and core competitiveness to ensure steady business development in 2020[24] - Selling and distribution costs remained stable due to effective cost control measures implemented after the disposal of subsidiaries[10] - Administrative expenses also remained stable, reflecting the Group's ongoing cost management strategies[10] Financial Position - As of 30 September 2019, the Group had no interest-bearing bank borrowings, down from approximately HK$36,654,000 as of 30 September 2018, resulting in a gearing ratio of nil compared to approximately 9.4% in the previous year[27] - The current ratio improved to approximately 2.9 as of 30 September 2019, up from approximately 2.2 as of 30 September 2018[27] - The Group's restricted bank deposits increased to approximately HK$13,101,000 as of 30 September 2019, compared to approximately HK$12,980,000 as of 30 September 2018[27] - Capital commitments for the acquisition of property, plant, and equipment were approximately HK$836,000 as of 30 September 2019, significantly down from approximately HK$6,842,000 as of 30 September 2018[29] Corporate Governance - The Company complied with all applicable code provisions of the Corporate Governance Code during the year ended 30 September 2019, except for certain deviations[33] - The Board consists of seven members, including four executive Directors and three independent non-executive Directors[35] - The Board is responsible for the leadership and control of the Group, overseeing strategic decisions and performance[33] - The Company has arranged for appropriate insurance cover for Directors' and officers' liabilities arising from corporate activities[33] Environmental Commitment - The Group's environmental management system was accredited with ISO 14001:2015, demonstrating its commitment to sustainable practices[93] - The Group aims to minimize environmental impact from business activities while delivering premium quality products[93] - Continuous efforts are made to improve public health, community safety, and environmental protection through a responsible chemical sales and management system[93] - The Group is dedicated to research and development of ecologically sound and occupationally safe products[93] Employee Management - As of 30 September 2019, the Group employed a total of 354 employees, a decrease from 365 employees as of 30 September 2018[31] - Staff costs for the year ended 30 September 2019 amounted to approximately HK$86,377,000, an increase of about 28.2% compared to approximately HK$67,399,000 for the year ended 30 September 2018[31] - The Group emphasizes equal opportunity and diversity in the workplace, ensuring no discrimination based on personal characteristics[127] - The Group has established objective performance indicators for annual employee evaluations to encourage continuous improvement[134] Risk Management - The Audit Committee held three meetings during the year ended September 30, 2019, to discuss and review the audit plan and the Group's financial results for the year and the six months ended March 31, 2019[64][68] - The Company has implemented measurable objectives to achieve the Board Diversity Policy and reviews these objectives periodically[55][60] - The Group's internal control procedures are deemed effective and adequate, covering financial, operational, compliance controls, and risk management functions[78] Community Engagement - The Group has contributed to education in impoverished areas by constructing Youxin Peimiao Dingan Primary School and supporting various educational initiatives since 2006[168] - The Group plans to establish community investment policies to provide clearer management direction and measures for employees[169] - The Group is committed to protecting customer data and privacy, ensuring that customer information is not used for publicity without consent[162] Shareholder Relations - The Company has adopted a Dividend Policy to allow Shareholders to participate in profits while retaining adequate reserves for future growth[80] - The Board aims to balance Shareholders' expectations with prudent capital management through a sustainable Dividend Policy[80] - Factors considered for dividend declaration include actual and expected financial performance, available surplus, and future cash flow requirements[82]

Financial Performance - The overall revenue of Infinity Development Holdings increased by approximately 21.9% from approximately HK$300,635,000 during the six months ended 31 March 2018 to approximately HK$366,478,000 during the six months ended 31 March 2019[8]. - The overall gross profit increased by approximately 29.7% from approximately HK$81,958,000 to approximately HK$106,279,000 during the same period[8]. - The Group reported a net profit of approximately HK$15,612,000 for the six months ended 31 March 2019, compared to approximately HK$10,473,000 for the same period in 2018[10]. - Profit for the period increased to HK$15,612,000, a 49.5% rise compared to HK$10,473,000 in 2018[71]. - Total comprehensive income for the period was HK$20,557,000, up from HK$15,405,000 in 2018, marking a 33.9% increase[72]. - Basic earnings per share for the six months ended March 31, 2019, was HK$0.025, compared to HK$0.017 for the same period in 2018, reflecting a growth of approximately 47.5%[147][148]. Expenses and Costs - Selling and distribution costs increased by approximately 15.5% from approximately HK$30,292,000 to approximately HK$34,976,000[8]. - Administrative expenses rose by approximately 30.2% from approximately HK$44,144,000 to approximately HK$57,454,000, mainly due to increased staff costs[10]. - Staff costs, including Directors' emoluments, amounted to approximately HK$48,830,000 for the six months ended March 31, 2019, compared to approximately HK$36,791,000 for the same period in 2018, representing an increase of about 32.8%[29]. - The Group's depreciation expense increased to HK$5,922,000 for the six months ended 31 March 2019, compared to HK$5,000,000 in the same period of 2018, reflecting a rise of approximately 18.4%[140]. Financial Position - As of March 31, 2019, the Group's total interest-bearing bank borrowings decreased from approximately HK$36,654,000 to approximately HK$15,556,000[25]. - The Group's gearing ratio as of March 31, 2019, was approximately 4.1%, down from approximately 9.4% as of September 30, 2018[25]. - The current ratio of the Group as of March 31, 2019, was approximately 2.4, compared to approximately 2.2 as of September 30, 2018[25]. - The net assets decreased to HK$380,853,000 from HK$391,101,000, reflecting a decline of 2.9%[78]. - Trade and bills receivables as of March 31, 2019, totaled HK$133,649,000, a decrease from HK$186,364,000 as of September 30, 2018, indicating a reduction of approximately 28.3%[151]. Investments and Acquisitions - The gain on disposal of subsidiaries was a one-off and non-recurring item, completed on 8 March 2019, without materially affecting the core business[10]. - There were no significant investments, material acquisitions, or disposals during the six months ended March 31, 2019, except for a disposal agreement completed on March 8, 2019[27]. - The Group owns 40% equity interests in Blue Sky Energy Efficiency Company Limited, which is engaged in energy-efficiency systems and renewable energy projects[29]. - The Blue Sky Group made an investment to acquire a 57% shareholding in a biochemical production company in China, but there have been delays in the ethanol production project[29]. Shareholder Information - As of 31 March 2019, Mr. Ieong Un holds 342,500,000 shares, representing approximately 57.07% of the total shareholding[41]. - Mr. Ieong Un is also a beneficial owner of 78,902,769 shares, accounting for about 13.14% of the total[43]. - The Company declared a final dividend of HK$2.6 cents per ordinary share, totaling approximately HK$15,605,000, an increase from HK$13,067,000 in the previous year[138]. - The company repurchased a total of 15,148,000 ordinary shares, all of which were cancelled in February 2019[36]. Corporate Governance - The Company has complied with the Corporate Governance Code during the six months ended 31 March 2019, except as disclosed[36]. - The roles of chairman and chief executive are held by Mr. Ieong Un, who is the founder and substantial shareholder of the Company[36]. - The Company has adopted the Model Code for Securities Transactions by Directors, and all Directors confirmed compliance during the reporting period[36]. Operational Strategy - The Group aims to broaden its revenue base by proactively investing in and developing its OEM business[21]. - The Group will focus on improving operational efficiency and core competitiveness to ensure effective business development in 2019[22]. - The Group will continue to monitor developments in the footwear manufacturing industry and adjust business strategies as needed[22][23]. Compliance and Reporting - The interim financial statements were reviewed by RSM Hong Kong, confirming compliance with HKAS 34[67]. - The Group's financial statements for the six months ended March 31, 2019, have been prepared in accordance with HKAS 34 and relevant Listing Rules[90]. - The Group's financial statements reflect the impact of new and revised Hong Kong Financial Reporting Standards[104].

Financial Performance - The overall revenue of the Group increased by approximately 22.9% from approximately HK$539,557,000 in the year ended 30 September 2017 to approximately HK$663,036,000 in the year ended 30 September 2018[8]. - The net profit for the year ended 30 September 2018 amounted to approximately HK$40,311,000, compared to a net loss of approximately HK$20,279,000 for the year ended 30 September 2017[8]. - The Board has recommended a final dividend of HK2.6 cents per share for the year ended 30 September 2018, an increase from HK2.1 cents in 2017[8]. - The gross profit margin decreased from approximately 34.1% in the year ended 30 September 2017 to approximately 29.2% in the year ended 30 September 2018, primarily due to rising petrochemical material costs[10]. - Selling and distribution costs rose by approximately 7.8% from approximately HK$56,149,000 in the year ended 30 September 2017 to approximately HK$60,520,000 in the year ended 30 September 2018[10]. Business Strategy and Expansion - The Group plans to expand its manufacturing facilities in Vietnam to meet market demand[12]. - The Group has established technology cooperation agreements with experts from Japan, Taiwan, and Hong Kong to enhance its research and development capabilities[14]. - The Board expects steady sales growth in 2019 due to increasing global demand for footwear and environmental friendly adhesive products[16]. - The Group will consider investing in and developing its OEM business to broaden its revenue base[18]. - The Group will actively consider investing and developing its OEM business to broaden its revenue base[19]. Economic Outlook and Risks - The anticipated increase in interest rates and oil price volatility are expected to pose risks to the global economy in 2019[17]. - The global economic outlook remains optimistic, with expectations of slight growth despite risks from the US-China trade war and emerging market issues[19]. - The Group will adopt a cautious approach to ensure continuous and effective business development amid global economic uncertainties[21]. Financial Position and Ratios - The Group's total interest-bearing bank borrowings increased from approximately HK$27,164,000 as of September 30, 2017, to approximately HK$36,654,000 as of September 30, 2018[21]. - The gearing ratio as of September 30, 2018, was approximately 9.4%, up from approximately 6.9% as of September 30, 2017[21]. - The current ratio as of September 30, 2018, was approximately 2.2, compared to approximately 2.8 as of September 30, 2017[21]. - The Group's restricted bank deposits decreased from approximately HK$17,430,000 as of September 30, 2017, to approximately HK$12,980,000 as of September 30, 2018[21]. Corporate Governance - The Board is committed to high standards of corporate governance and has complied with all applicable code provisions as set out in the Corporate Governance Code[39]. - The Board consists of seven members, including four executive Directors and three independent non-executive Directors, ensuring a balance of relevant skills and experience[42][43]. - The Audit Committee held two meetings during the year ended 30 September 2018 to review the Group's results for the year and the six months ended 31 March 2018, recommending both to the Board for approval[55]. - The Nomination Committee held one meeting during the year ended 30 September 2018 to review the composition of the Board and the independence of the independent non-executive Directors[63]. - The Board believes that the current structure of having the same individual as chairman and chief executive officer provides strong and consistent leadership for the Group[53]. Environmental and Social Responsibility - The Group aims to provide environmental, social, and economic benefits to stakeholders as part of its sustainable development efforts[94]. - The environmental, social, and governance report for the year ended 30 September 2018 is prepared in accordance with the relevant reporting guide[94]. - The Group's greenhouse gas emissions totaled 3,082 tCO2e for the year ended September 30, 2018, with an intensity of 0.15 tCO2e per ton of adhesives produced[105]. - The Group's environmental management system was accredited with ISO 14001:2015[99]. - The Group plans to phase out diesel forklifts in favor of electric ones to enhance sustainability[109]. Employee and Workplace Safety - The Group employed a total of 365 employees as of 30 September 2018, down from 375 employees as of 30 September 2017[23]. - The Group's employment system includes performance evaluation and training, ensuring equal opportunities and a diverse working environment[135]. - The Group has established safety policies and conducts regular safety inspections to mitigate health and safety risks in the workplace[149]. - During the year ended September 30, 2018, there were no occurrences of any fatal accidents[159]. - The Group provides protective equipment to employees to ensure safety during manufacturing processes[149]. Community Engagement - The Group emphasizes the importance of community investment, contributing to education in impoverished areas since 2006 through donations and voluntary work[177]. - The Group has been actively involved in community investment, particularly in education in impoverished areas, contributing to the construction of "Youxin Peimiao Ding'an Primary School" since 2006[179]. - The Group plans to develop a community investment policy to provide more specific management guidelines and measures for employees[179]. Management Team - Mr. Ieong Un, the founder and CEO, has approximately 30 years of experience in the adhesive industry, focusing on strategic planning and product R&D[181]. - Mr. Ip Chin Wing, the deputy general manager, assists in formulating business strategies and has a background in managing operations since joining the Group in 2001[182]. - Mr. Ip Ka Lun oversees treasury and administrative functions, bringing 30 years of experience in accounting and finance to the Group[186]. - Mr. Stephen Graham Prince is responsible for sales and marketing, having joined the Group in 2005 with prior experience in project management and operational strategy[187]. - The Group's management team consists of experienced professionals with extensive backgrounds in their respective fields, enhancing the Group's operational capabilities[181][182][186][187].