Financial Performance - For the year ending December 31, 2023, the company's revenue from continuing operations was HKD 1,740,330, a decrease of 30.0% compared to HKD 2,488,688 in 2022[2] - The cost of sales for the year was HKD 1,250,758, down from HKD 1,845,243 in the previous year, reflecting a reduction of 32.2%[2] - The gross profit for 2023 was HKD 489,572, which is a decline of 23.9% from HKD 643,445 in 2022[2] - The company reported a loss before tax of HKD 248,484, compared to a loss of HKD 158,366 in 2022, indicating a worsening of 56.9%[2] - The total comprehensive loss for the year was HKD 274,480, down from HKD 429,919 in the previous year, representing a decrease of 36.2%[5] - The basic loss per share from continuing and discontinued operations was HKD 21.69, compared to HKD 18.60 in 2022, reflecting an increase of 16.1%[5] - The group reported a net loss of approximately HKD 238,791,000 for the year ended December 31, 2023, with current liabilities netting around HKD 942,170,000[20] - The group reported a net loss attributable to shareholders of approximately HKD 239,000,000 for the year, compared to a loss of HKD 205,000,000 in 2022[69] - The basic loss per share for the year was HKD 0.2169, compared to HKD 0.1860 in 2022[69] Assets and Liabilities - Non-current assets decreased to HKD 2,228,828 from HKD 2,717,735, a reduction of 17.9%[7] - Current assets also declined to HKD 947,585 from HKD 1,246,527, a decrease of 23.9%[7] - The company's total liabilities decreased to HKD 2,162,363 from HKD 2,474,914, a reduction of 12.6%[8] - Net assets fell to HKD 1,110,572 from HKD 1,385,052, indicating a decrease of 19.8%[8] - The group's total non-current assets decreased from HKD 2,642,596,000 in 2022 to HKD 2,168,704,000 in 2023, reflecting a reduction of about 18%[31] - The total amount of trade and other payables decreased to HKD 783.19 million in 2023 from HKD 911.82 million in 2022[61] - The group's bank and other borrowings amounted to HKD 1,189 million, with 54% denominated in RMB and 46% in HKD[94] - The debt ratio increased to 89% as of December 31, 2023, compared to 58% the previous year[96] Revenue Breakdown - The group's revenue from the sale of dyeing machines was HKD 1,288,151,000, a decrease of 30% from HKD 1,840,604,000 in the previous year[25] - Revenue from the sale of stainless steel casting products was HKD 393,783,000, down from HKD 532,555,000, representing a decline of 26%[25] - The total operating revenue for the group was HKD 1,740,330,000, compared to HKD 2,488,688,000 in the previous year, indicating a decrease of approximately 30%[26] - The sales revenue from dyeing machinery accounted for 74% of total revenue, amounting to approximately HKD 1,288,000,000, down 30% from HKD 1,841,000,000 in the previous year[71] - The sales revenue from the Hong Kong and China markets was approximately HKD 619,000,000, a decrease of 3% from HKD 638,000,000 in the previous year[71] - The overseas market sales revenue was approximately HKD 669,000,000, down 44% from HKD 1,203,000,000 in the previous year[71] - The group recorded a revenue of approximately HKD 394 million in the stainless steel casting business, accounting for 23% of total revenue, a decrease of 26% from HKD 533 million last year[80] Financial Management and Governance - The consolidated financial report complies with the Hong Kong Financial Reporting Standards and the relevant disclosure requirements of the Stock Exchange[11] - The company has adopted new Hong Kong Financial Reporting Standards effective from January 1, 2023, which did not have a significant impact on the financial position and performance of the group[12] - The management has assessed that the changes in accounting policies have not had a significant impact on the group, and the adjustments to profit and loss are not material[17] - The directors believe that the group will have sufficient financial resources to meet its financial obligations in the foreseeable future, with no significant uncertainties affecting the going concern assumption[22] - The company emphasizes the importance of effective governance and compliance with the Hong Kong Stock Exchange's corporate governance code as of December 31, 2023[98] - The company has adopted a set of securities trading conduct rules for directors, which are more lenient than the standard rules, and confirmed compliance as of December 31, 2023[99] - The audit committee has reviewed the accounting policies and the audited consolidated financial statements for the year ending December 31, 2023, confirming consistency with the reported figures[102] Operational Strategies and Future Outlook - The group plans to actively negotiate with banks to renew loans maturing before December 31, 2024, ensuring continued financial support[21] - The group plans to continue investing in research and development of new products and technologies to meet market demands[66] - The group aims to enhance cost control measures across all operational structures to maintain cash flow stability[73] - The management team is committed to enhancing operational efficiency and upgrading production capacity to support the development of higher-value casting products[82] - The group is focused on optimizing organizational structure and implementing cost reduction measures to improve profitability in the stainless steel trading segment[83] - The group believes that the demand for high-quality stainless steel castings will continue to grow in the medium to long term, contributing to sustained profitability[82] - The group acknowledges the ongoing economic uncertainties and challenges in demand growth affecting the manufacturing sector[66] - The group anticipates continued challenges in business operations this year, with a negative market outlook and expected slowdown in overseas markets[88] Dividends and Shareholder Returns - The company did not declare any final dividend for the year ended December 31, 2023, and no interim dividend was paid during the year[47] - The company did not recommend any final dividend for the year ending December 31, 2023, and no interim dividend was paid during the year[63] Impairments and Losses - The company recognized an impairment loss of HKD 68,718,000 on goodwill, reducing the carrying amount from HKD 533,515,000 to HKD 464,797,000 by the end of 2023[49] - The group did not recognize any impairment losses for the year as the fair value less costs to sell exceeded the carrying amount[39]

Financial Performance - For the six months ended June 30, 2023, the company reported revenue of HKD 847.985 million, a decrease of 33.6% compared to HKD 1,277.810 million in the same period of 2022[14] - The gross profit for the same period was HKD 211.214 million, down 33.1% from HKD 315.730 million year-on-year[14] - The company incurred a loss from continuing operations of HKD 79.225 million, compared to a loss of HKD 75.020 million in the previous year, reflecting an increase in loss of 3%[14] - The total comprehensive loss for the period was HKD 100.484 million, compared to HKD 156.144 million in the same period last year, indicating a reduction in comprehensive loss of 35.8%[14] - The company reported a net loss of HKD 78.06 million for the six months ended June 30, 2023, compared to a loss of HKD 75.05 million in the same period of 2022[19] - The group reported a loss before tax from continuing operations of HKD 77,230,000 for the six months ended June 30, 2023, compared to a loss of HKD 72,858,000 for the same period in 2022[27] - The total comprehensive loss for the period was HKD 101.04 million, compared to a total comprehensive loss of HKD 157.57 million in the same period of 2022[19] - The loss attributable to the company's owners was approximately HKD 78 million, compared to a loss of HKD 75 million in the previous year, with a basic and diluted loss per share of HKD 0.0709[63] Revenue Breakdown - The revenue breakdown by region shows that Asia-Pacific contributed HKD 336 million (37%) in 2023, up from HKD 161 million (26%) in 2022[9] - The company reported a significant increase in revenue from North America and South America, which rose to HKD 88 million (10%) in 2023 from HKD 21 million (3%) in 2022[9] - The revenue from external sales in China was HKD 367,350,000, down 12.8% from HKD 421,403,000 in the previous year[32] - The group’s stainless steel casting products segment generated revenue of HKD 199,480,000, down from HKD 293,859,000 in the previous year[27] - The manufacturing and sales of dyeing and finishing machinery segment generated revenue of approximately HKD 616 million, accounting for 72% of total revenue, down 32% from HKD 907 million year-on-year[64] - The sales in the Hong Kong and China markets amounted to approximately HKD 312 million, a decrease of 6% from HKD 333 million in the previous year, while overseas sales dropped 47% to approximately HKD 304 million from HKD 574 million[64] - The stainless steel casting products segment recorded revenue of approximately HKD 200 million, representing 24% of total revenue, a decrease of 32% from HKD 294 million year-on-year[67] - For the six months ended June 30, 2023, the stainless steel trading segment recorded revenue of approximately HKD 32 million, accounting for about 4% of the group's total revenue, a decrease of 58% from HKD 77 million in the same period last year[69] Expenses and Costs - The company’s administrative and other expenses decreased to HKD 232.705 million in 2023 from HKD 267.187 million in 2022, a reduction of 12.9%[14] - Interest expenses for the six months ended June 30, 2023, increased to HKD 36,124,000 from HKD 27,161,000 in the previous year, reflecting a rise in borrowing costs[34] - The group recorded a gross loss of HKD 43,402,000 from its segments, with the manufacturing and sales of dyeing machinery segment reporting a loss of HKD 55,152,000[27] - The company has implemented strict cost control measures across its operations, including reducing non-production staff and optimizing labor teams to maintain cost efficiency[65] - Employee costs for the first half of 2023 amounted to approximately HKD 282 million, representing 33% of total revenue, compared to 29% in the same period last year[73] Assets and Liabilities - As of June 30, 2023, total assets amounted to HKD 3,638 million, a decrease of 6.5% from HKD 3,885 million as of December 31, 2022[17] - Non-current assets decreased to HKD 2,571 million from HKD 2,718 million, reflecting a decline of 5.4%[17] - Current assets decreased to HKD 1,067 million from HKD 1,247 million, a reduction of 14.5%[17] - Total liabilities decreased to HKD 2,255 million from HKD 2,475 million, a decline of 8.9%[18] - The company’s equity attributable to owners decreased to HKD 1,358 million from HKD 1,460 million, a decrease of 7%[19] - The company’s bank and other borrowings increased to HKD 1,247 million from HKD 1,198 million, an increase of 4.1%[18] - The group had bank and other borrowings of approximately HKD 1.247 billion as of June 30, 2023, with 51% denominated in RMB, 48% in HKD, and 1% in USD[75] - The group’s debt ratio increased to 78% as of June 30, 2023, compared to 58% on December 31, 2022, while the current ratio was 0.47, down from 0.50[76] Cash Flow - Cash and cash equivalents decreased to HKD 238.96 million from HKD 401.33 million, a drop of 40.5%[20] - Operating cash flow showed a net outflow of HKD 110.27 million, an improvement from a net outflow of HKD 262.95 million in the previous year[20] - The group reported a net cash outflow of approximately HKD 110 million from operating activities for the six months ended June 30, 2023[75] - The net cash used in operating activities for the first half of 2023 was (21,000) HKD, compared to no cash used in the same period of 2022[40] Strategic Initiatives - The company plans to enhance its one-stop smart dyeing and finishing solutions, indicating a focus on innovation and technology upgrades[2] - The company aims to explore market expansion opportunities and new product development as part of its strategic initiatives moving forward[2] - The company plans to continue investing in new product research and development, launching more high-quality products to meet diverse customer needs[66] - The management team is focused on prudent capacity expansion and upgrading facilities to support the development of higher-value casting products[68] - The group plans to continue monitoring market trends and controlling operational costs to enhance efficiency and focus on core business development[72] Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2023, ensuring compliance with applicable accounting standards and regulations[87] - The company maintained compliance with all provisions of the Corporate Governance Code during the six months ended June 30, 2023[86] - The board of directors includes the chairman and general manager, along with independent non-executive directors, ensuring a diverse governance structure[88]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公 告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 CHTC FONG’S INTERNATIONAL COMPANY LIMITED 中 國 恒 天 立 信 國 際 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：641） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 中國恒天立信國際有限公司（「本公司」）董事會（「董事會」）公佈本公司及其附屬 公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經審核綜合中 期業績連同比較數字如下： 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 （未經審核） （未經審核） 附註 千港元 千港元 持續經營業務 ...

Financial Performance - The consolidated operating revenue for the year ended December 31, 2022, was approximately HKD 2,489 million, a decrease of 7% compared to HKD 2,672 million in 2021[8]. - The company reported a loss attributable to owners of approximately HKD 205 million for the year, compared to a profit of HKD 77 million in 2021, marking a significant decline[8]. - The decline in revenue was primarily due to a 15% decrease in the dyeing machinery segment, impacted by the ongoing negative effects of the COVID-19 pandemic[8]. - The company recognized impairment losses of approximately HKD 78 million on long-term receivables related to discontinued operations during the year[8]. - The basic and diluted loss per share for the year was HKD 0.186, while the previous year recorded earnings per share of HKD 0.07[51]. - The company's total revenue for the year ended December 31, 2022, decreased by 7% to approximately HKD 2,489,000,000, down from HKD 2,672,000,000 in the previous year[51]. - The company reported a net cash outflow from operating activities of approximately HKD 171 million for the year ended December 31, 2022[74]. - The company's debt ratio increased to 58% as of December 31, 2022, up from 42% the previous year, with a current ratio of 0.50[75]. Revenue Breakdown - The revenue breakdown by major business segments shows that 74% came from manufacturing and sales of dyeing machinery, 21% from stainless steel trading, and 5% from manufacturing and sales of stainless steel casting products[19]. - Geographically, 32% of revenue was generated from China, 31% from Europe, and 21% from the Asia-Pacific region excluding China and Hong Kong[20]. - Revenue from China reached HKD 1,169 million in 2021, showing a significant contribution to overall performance[24]. - The company reported a total revenue of HKD 1,841 million in 2022, indicating growth compared to previous years[26]. - In 2022, the revenue from stainless steel trading was HKD 345 million, reflecting the company's market position[27]. - The segment's revenue from stainless steel casting products reached approximately HKD 533 million, accounting for 21% of total revenue, representing a 54% increase from approximately HKD 345 million in the previous year[61]. Operational Challenges - The company faced challenges due to the ongoing COVID-19 pandemic, leading to a cautious investment approach from major customers in new dyeing and finishing machinery[52]. - The overall economic environment remains difficult and uncertain, impacting the company's order intake significantly, especially in the Chinese market[52]. - The company is experiencing increased operational costs due to unstable global supply chains and rising raw material prices, which are difficult to pass on to customers[51]. - The competitive landscape has intensified, with varying performance across different core business segments due to market conditions and competitor differences[51]. Strategic Initiatives - The board anticipates that the overall profit margin will gradually improve as the company continues to optimize its internal structure and enhance operational efficiency[11]. - The company plans to launch a series of marketing and customer engagement activities to celebrate its 60th anniversary and introduce next-generation innovative product models[12]. - The company aims to strengthen procurement management to mitigate the impact of rising costs due to supply shortages of raw materials and components[11]. - Future outlook includes continued investment in new product development and technology advancements to enhance competitiveness[26]. - The company is focusing on strategic acquisitions to bolster its market share and operational capabilities[26]. - The management is focused on enhancing marketing efforts, improving product value, and accelerating the development of new customers to achieve strategic expansion in emerging markets[56]. Corporate Governance - The company emphasizes the importance of good corporate governance and has complied with all relevant codes during the fiscal year[78]. - The board of directors includes experienced professionals with extensive backgrounds in finance and management, enhancing strategic decision-making[32]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse composition[83]. - The company has established three board committees: the Nomination Committee, the Remuneration Committee, and the Audit Committee, each with clear written terms of reference[99]. - The company emphasizes corporate governance and has implemented best practices to enhance operational transparency and accountability[84]. - The board is committed to maintaining independence and has received annual confirmations of independence from all independent non-executive directors[91]. Risk Management - The company has established a robust risk management system to assist in identifying risks and promoting business development[128]. - The internal audit department conducted a project to identify key risk areas in strategy, operations, and finance, with the board reviewing the risk assessment documents[129]. - The board believes that the internal control system is effectively implemented to prevent significant misstatements or losses, ensuring operational efficiency and compliance with regulations[129]. Employee and Operational Metrics - As of December 31, 2022, the company had approximately 2,800 employees, down from 3,400 in the previous year, with total employee costs amounting to HKD 704 million, representing 28% of operating revenue[73]. - The company's inventory level decreased to approximately HKD 497 million as of December 31, 2022, compared to HKD 624 million a year earlier[74]. Shareholder Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and transparency[134]. - The company has adopted a dividend policy that considers various factors, including financial performance and operational needs, before declaring dividends[142]. - The company reported no final dividend for the year ended December 31, 2022, with no interim dividend paid, resulting in no dividends distributed for the entire year[147].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 CHTC FONG’S INTERNATIONAL COMPANY LIMITED 中 國 恒 天 立 信 國 際 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：641） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 全 年 業 績 公 告 中國恒天立信國際有限公司（「本公司」）之董事會（「董事會」）欣然公佈本公司及 其附屬公司（「本集團」）截至二零二二年十二月三十一日止年度之經審核綜合 業績，連同上年度之比較數字如下： 綜合損益及其他全面收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 持續經營業務 營業收入 2 2,488,688 2,672,467 銷售成本 (1,845,243) (2,032,632) 毛利 643,445 639,835 ...

Financial Performance - The company's revenue for the six months ended June 30, 2022, was HKD 1,277.81 million, an increase from HKD 1,219.55 million in the same period of 2021, representing a growth of approximately 4.8%[16] - The gross profit for the same period was HKD 315.73 million, compared to HKD 305.56 million in 2021, indicating a slight increase of about 3.9%[16] - The company reported a loss before tax of HKD 72.86 million, an improvement from a loss of HKD 99.93 million in the previous year, reflecting a reduction of approximately 27.1%[16] - The net loss attributable to the owners of the company was HKD 75.02 million, compared to a loss of HKD 110.94 million in the prior year, showing a decrease of about 32.5%[18] - The group recorded consolidated revenue of approximately HKD 1,278,000,000 for the six months ended June 30, 2022, a slight increase of 5% compared to approximately HKD 1,220,000,000 for the same period last year[66] - The loss attributable to the company's owners was approximately HKD 75,000,000, an improvement from a loss of approximately HKD 115,000,000 in the previous year[66] - The basic and diluted loss per share was HKD 0.0682, compared to HKD 0.1040 in the previous year[66] Revenue Breakdown - The company’s total operating income by region for the manufacturing and sales of dyeing and finishing machinery was HKD 907 million, with China contributing HKD 323 million (36%) and Asia Pacific contributing HKD 336 million (37%) in the first half of 2022[7] - The company’s total operating income from stainless steel casting products was HKD 294 million, with Europe accounting for HKD 141 million (47%) and North America and South America for HKD 93 million (32%) in the same period[9] - The company’s total operating income from stainless steel trading was HKD 77 million, with China contributing HKD 57 million (74%) and Hong Kong contributing HKD 20 million (26%) in the first half of 2022[12] - Revenue from the manufacturing and sales of dyeing machines was HKD 907,324,000, while revenue from stainless steel casting products was HKD 293,859,000 for the same period[33] - Revenue from the Chinese market was HKD 421,403,000, down from HKD 575,607,000 in the same period of 2021, indicating a decline of approximately 26.7%[38] - The group’s revenue from Europe increased to HKD 269,463,000 for the six months ended June 30, 2022, compared to HKD 160,892,000 in the same period of 2021, showing a growth of approximately 67.5%[38] - The stainless steel casting business recorded revenue of approximately HKD 294 million for the six months ended June 30, 2022, representing 23% of the group's total revenue, a 116% increase from approximately HKD 136 million in the same period last year[71] - The stainless steel trading segment achieved revenue of approximately HKD 77 million, accounting for about 6% of total revenue, a slight increase of 3% from approximately HKD 75 million year-on-year[74] Expenses and Liabilities - The company’s administrative and other expenses decreased to HKD 267.19 million from HKD 277.35 million in the previous year, reflecting a reduction of approximately 3.9%[16] - The company’s financial expenses decreased to HKD 27.16 million from HKD 28.23 million in the previous year, indicating a decline of about 3.8%[16] - Total liabilities rose to HKD 2,815,554 thousand, an increase of 10.7% from HKD 2,542,775 thousand as of December 31, 2021[21] - Trade and other payables increased significantly to HKD 1,192,856 thousand, up 24.2% from HKD 960,207 thousand as of December 31, 2021[21] - The company reported a total comprehensive loss of HKD (157,570) thousand for the six months ended June 30, 2022[23] - The company’s net assets decreased to HKD 1,658,827 thousand, down 9.1% from HKD 1,825,973 thousand as of December 31, 2021[21] - The group reported a net cash outflow of approximately HKD 263 million from operating activities for the six months ended June 30, 2022[80] Assets and Cash Flow - As of June 30, 2022, non-current assets totaled HKD 2,934,722 thousand, a decrease of 4.6% from HKD 3,076,083 thousand as of December 31, 2021[20] - Current assets increased to HKD 1,570,774 thousand, up 18.0% from HKD 1,331,542 thousand in the previous year[20] - Cash and cash equivalents at the end of the period increased to HKD 410,942 thousand, up from HKD 279,139 thousand in the previous year[25] - The company recorded a total of HKD 550,397,000 in trade and other receivables as of June 30, 2022, an increase from HKD 413,274,000 as of December 31, 2021[54] - As of June 30, 2022, the group's inventory level decreased to approximately HKD 603 million from approximately HKD 624 million as of December 31, 2021[80] Corporate Governance and Compliance - The company has complied with all provisions of the Corporate Governance Code during the reporting period[94] - The company established an audit committee to review and supervise the financial reporting system and internal control procedures[95] - The unaudited condensed consolidated financial report for the six months ended June 30, 2022, was reviewed by the audit committee, ensuring compliance with applicable accounting standards and legal requirements[96] - The board of directors includes four executive directors and three independent non-executive directors, ensuring a diverse governance structure[96] Strategic Focus and Future Plans - The company aims to enhance its one-stop intelligent dyeing and finishing solutions, indicating a focus on innovation and market expansion[1] - The company will continue to focus on research and development in the dyeing machinery industry and increase investment in technology to provide higher value products[70] - The company aims to enhance market promotion efforts, focus on key projects, and accelerate the development of new customers for strategic expansion in emerging markets[70] - The group plans to continue refining manufacturing processes and enhancing operational efficiency to reduce costs and improve overall productivity[72] - The group aims to develop new products and explore new markets to meet customer needs while maintaining a cautious approach to market risks in the stainless steel trading business[75] - The group has terminated its environmental services business to focus on core operations, enhancing its ability to manage risks and stabilize future growth[76] Debt and Financing - The group’s debt ratio increased to 44% as of June 30, 2022, compared to 42% on December 31, 2021[81] - The current ratio improved to 0.59 from 0.56 during the same period[81] - The company has secured a maximum loan of HKD 100 million with a bank, which is to be repaid in seven installments over 18 months[82] - A new short-term revolving loan of up to HKD 80 million was granted for general working capital needs[82] - The company has a three-year term loan of up to HKD 70 million for the construction of a new factory and equipment purchase[82] Shareholding Structure - As of June 30, 2022, China National Machinery Industry Group Co., Ltd. holds 615,408,140 shares, representing 55.94% of the issued share capital[87] - The total shares held by Mr. Fang Shoulin, a trust founder, amount to 194,904,220, which is 17.72% of the issued share capital[87] Dividends - The company declared a final dividend of HKD 0.01 per share for the year 2021, totaling HKD 11,002,000, compared to no dividend declared for the previous year[51] - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the same period in 2021[51]

Financial Performance - The company reported a consolidated revenue of approximately HKD 2,672 million for the year ended December 31, 2021, representing a 17% increase from HKD 2,275 million in 2020[10]. - The company reported a profit attributable to owners of the company of HKD 300 million for the year 2021[15]. - The company reported total revenue of HKD 2,164 million in 2021, up from HKD 1,756 million in 2020, representing a growth of approximately 23.1%[22]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in 2021, representing a growth of 15% compared to the previous year[41]. - The company provided a positive outlook for 2022, projecting a revenue growth of 10% to 1.32 billion, driven by new product launches and market expansion strategies[41]. - The company reported a 5% increase in gross margin, reaching 35%, attributed to cost control measures and operational efficiencies[41]. Revenue Breakdown - The revenue breakdown by major business segments shows that manufacturing and sales of dyeing and finishing machinery accounted for 81% of total revenue in 2021[17]. - The company’s revenue distribution by region indicates that 49% of revenue came from China, while 23% came from the Asia-Pacific region excluding China and Hong Kong[19]. - Revenue from the Chinese market reached HKD 1,169 million in 2021, compared to HKD 5 million in 2020, indicating a significant increase[22]. - The Asia-Pacific region contributed HKD 440 million to the total revenue in 2021, while Europe accounted for HKD 182 million[22]. - The North America and South America regions generated HKD 596 million in revenue in 2021, showing a strong market presence[22]. Strategic Initiatives - The company anticipates facing challenges in 2022 due to ongoing uncertainties in the global market but aims to develop new products and expand into new markets[13]. - The company plans to enhance procurement management to mitigate the impact of rising costs due to raw material and component supply shortages[13]. - The company aims to improve operational efficiency and increase production capacity through internal integration and process adjustments[13]. - Future outlook includes strategic initiatives aimed at market expansion and potential mergers and acquisitions to strengthen its competitive position[32]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in sales in that region by 2023[41]. - A strategic acquisition of a local competitor is expected to enhance the company's market share by 15% in the next fiscal year[41]. Operational Efficiency - The company is committed to maintaining product quality and optimizing cost structure to enhance product competitiveness and market share[13]. - The relocation of production facilities from Shenzhen to Zhongshan was completed in February 2021, enhancing production efficiency and reducing overall production costs[57]. - The company is focusing on digital transformation and improving manufacturing processes to increase production capacity and efficiency[54]. - The group is committed to improving operational efficiency by streamlining manufacturing processes and optimizing quality control to reduce operational costs[66]. Research and Development - Investment in R&D increased by 25%, totaling 150 million, focusing on innovative textile machinery technologies[41]. - The company aims to leverage its expertise in lean production and technology research to drive innovation and growth in the coming years[30]. - The company is developing a new line of eco-friendly textile machinery, aiming for a launch in Q3 2022, which is anticipated to capture a new customer segment[41]. Corporate Governance - The board emphasizes the importance of good corporate governance for the group's sustainable development and has adhered to all relevant corporate governance codes[85]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the standards set forth in the listing rules[86]. - The board is responsible for overseeing the company's operations and ensuring effective leadership and accountability[88]. - The company ensures that all board members receive adequate information to make decisions in the best interest of the company[101]. - The independent non-executive directors will lead discussions on matters involving conflicts of interest with major shareholders or directors[97]. Shareholder Relations - The company expressed gratitude to shareholders, customers, suppliers, and employees for their support and contributions over the past year[14]. - The company aims to create greater value for shareholders, society, and employees while continuing its sustainable development[14]. - The company emphasized the importance of effective communication with shareholders to enhance investor relations and transparency[139]. - The company’s board of directors encourages shareholders to attend meetings and raise any concerns directly[139]. - The company has established a website to provide the latest information and updates to investors and the public[139]. Financial Management - The net cash inflow from operating activities for the year ended December 31, 2021, was approximately HKD 264 million[81]. - The group's bank and other borrowings amounted to approximately HKD 1,099 million as of December 31, 2021, with 68% denominated in HKD, 30% in RMB, and 2% in USD[81]. - The debt ratio decreased to 42% as of December 31, 2021, down from 78% as of December 31, 2020[82]. - The current ratio was recorded at 0.56 as of December 31, 2021, slightly down from 0.58 as of December 31, 2020[82]. - The group continues to implement prudent financial management policies to ensure ongoing operations[82]. Employee Information - As of December 31, 2021, the group had approximately 3,400 employees, a decrease from 3,600 employees in the previous year, with total employee costs amounting to approximately HKD 783 million, accounting for 29% of total revenue[77]. - The company has established a stock option plan to incentivize high-quality employees, effective for ten years from May 21, 2015[169]. Environmental Commitment - The board highlighted the commitment to sustainability, with plans to reduce carbon emissions by 20% by 2025[41]. - The company’s environmental services business has been classified as discontinued operations[149].

Financial Performance - The company's revenue for the six months ended June 30, 2021, was HKD 1,219.55 million, an increase from HKD 1,045.43 million in the same period of 2020, representing a growth of approximately 16.6%[13] - The gross profit for the same period was HKD 305.56 million, compared to HKD 289.81 million in 2020, indicating a slight increase of about 5.5%[13] - The net loss attributable to the owners of the company for the period was HKD 110.94 million, compared to a loss of HKD 63.28 million in the previous year, reflecting a deterioration of approximately 75%[14] - The company reported a significant increase in interest income, which rose to HKD 14.48 million from HKD 11.30 million, marking an increase of about 28.8%[13] - The total operating income from the manufacturing and sales of dyeing and finishing machinery was HKD 1,008 million, with China contributing HKD 518 million (52%) to this total[7] - The company experienced a decline in revenue from stainless steel casting products, which totaled HKD 136 million, down from HKD 174 million in the previous year, representing a decrease of approximately 21.8%[9] - The revenue from stainless steel trading was HKD 75 million, a decrease from HKD 81 million in the same period last year, indicating a decline of about 7.4%[10] - The company reported a foreign exchange gain of HKD 31.64 million during the period, compared to a loss of HKD 29.12 million in the same period last year[13] - The basic and diluted loss per share from continuing and discontinued operations was HKD 10.40, compared to HKD 5.76 in the previous year, indicating a significant increase in loss per share[14] Assets and Liabilities - As of June 30, 2021, non-current assets totaled HKD 3,181,807 thousand, an increase from HKD 3,076,207 thousand as of December 31, 2020, representing a growth of approximately 3.4%[16] - Current assets increased to HKD 1,624,427 thousand from HKD 1,529,481 thousand, marking a rise of about 6.2% year-over-year[16] - The company's cash and bank balances decreased to HKD 279,112 thousand from HKD 342,177 thousand, reflecting a decline of approximately 18.5%[16] - Total liabilities rose to HKD 2,944,923 thousand from HKD 2,653,827 thousand, indicating an increase of around 10.9%[17] - The net asset value decreased to HKD 1,659,448 thousand from HKD 1,748,175 thousand, a decline of about 5.1%[17] - Trade and other payables increased significantly to HKD 950,094 thousand from HKD 639,675 thousand, reflecting a rise of about 48.4%[17] - The company’s goodwill remained stable at HKD 533,515 thousand, unchanged from the previous year[16] Cash Flow and Financing - Cash generated from operating activities for the six months ended June 30, 2021, was HKD 24,580 thousand, down from HKD 126,170 thousand in the same period of 2020, a decrease of approximately 80.5%[21] - The net cash used in financing activities was HKD 50,533 thousand, compared to HKD 91,874 thousand in the previous year, showing a reduction of about 45%[21] - The company reported a total inventory of HKD 667,406 thousand, an increase from HKD 606,555 thousand, representing a growth of approximately 10%[16] - The company’s bank and other borrowings totaled HKD 1,547,224,000 as of June 30, 2021, down from HKD 1,705,140,000 as of December 31, 2020[55] - The company has secured a trade financing facility of up to HKD 60,000,000 for its wholly-owned subsidiaries[80] - A three-year term loan of HKD 100,000,000 was obtained for the construction of a new factory and purchase of production equipment[80] - The company accepted a revised bank financing totaling approximately HKD 525,000,000, which includes three term loans and other trade-related financing[82] - A bank financing renewal of up to HKD 451,000,000 was accepted, aimed at general corporate funding needs and construction costs for a new factory[83] Market and Operational Insights - The group reported a loss of HKD 71,268,000 for the six months ended June 30, 2021, compared to a loss of HKD 24,265,000 for the same period in 2020[28] - Revenue from customers located in China was HKD 575,607,000, an increase from HKD 541,718,000 in the previous year, reflecting a growth of approximately 6.3%[33] - The group’s revenue from the Asia-Pacific region (excluding China and Hong Kong) was HKD 352,275,000, significantly up from HKD 219,233,000 in the previous year, indicating a growth of approximately 60.5%[33] - The group incurred finance costs of HKD 28,233,000 for the six months ended June 30, 2021, compared to HKD 27,422,000 for the same period in 2020[35] - The pre-tax loss from continuing operations for the six months ended June 30, 2021, was HKD 99,926,000, compared to a loss of HKD 51,370,000 for the same period in 2020[36] - The ongoing pandemic has significantly disrupted global supply chains and logistics, impacting the sales volume of stainless steel materials[69] - The company anticipates opportunities in the stainless steel trade business due to the commencement of large infrastructure projects in Hong Kong and accelerated urbanization in China[70] Strategic Initiatives - The group plans to enhance product quality and optimize cost structures to increase competitiveness and expand market share, while also focusing on centralized material procurement to mitigate the impact of rising raw material costs[64] - The management anticipates a strong economic recovery once the pandemic is under control, which will drive suppressed consumer demand and accelerate business growth[64] - The group is actively exploring new markets and introducing high-value-added products to meet customer needs and enhance sales strategies[66] - The company has completed the relocation of its production facilities from Shenzhen to Zhongshan, aiming to enhance production capacity and efficiency[72] - The company plans to continue investing in technology research and development to overcome current challenges and achieve stable growth in the future[72] - The company will adopt prudent measures to manage market risks and improve cash flow by enhancing credit management of sales and receivables[70] - The company will continue to monitor market conditions and optimize its workforce structure to improve operational efficiency[74] Corporate Governance - The company has established an audit committee to review and supervise the financial reporting system and internal control procedures[91] - The unaudited condensed consolidated financial report for the six months ended June 30, 2021, has been reviewed by the audit committee, confirming compliance with applicable accounting standards and legal requirements[91] - The company has adopted a set of guidelines for securities trading by directors, ensuring compliance with the standards set forth in the listing rules[91] - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2021[89] Dividends and Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2021, while it paid a final dividend of HKD 22,004,000 for the year 2020[46] - As of June 30, 2021, China National Machinery Industry Group Corporation holds a 55.94% stake in the company, equating to 615,408,140 shares[88] - The company’s director, Mr. Fang Guoliang, holds 178,204,220 shares, representing 16.20% of the issued share capital[86]

FOUG'T 中國恒天立信國際有限公司 ( 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ) (股份代號:641) 信心·協同·改變·圓夢 。恒天立信"一站式"智能染整全面解決方案 奥您共創科技新領域的製高點 携手奮進,勇關高峰 2020年室 ® 目錄 目錄 | --- | --- | |---------------------------------|--------| | | | | | | | 公司資料 | 2 | | 主席報告書 | 3-4 | | 財務概覽 | 5-6 | | 董事及高層管理人員簡介 | 7-11 | | | 12-21 | | 管理層論述及分析 企業管治報告書 | 22-37 | | 董事會報告書 | 38-50 | | 獨立核數師報告書 | 51-57 | | 綜合損益及其他全面收益表 | 58-59 | | 綜合財務狀況表 | 60-61 | | 綜合權益變動表 | 62-63 | | 綜合現金流量表 | 64-65 | | 綜合財務報告附註 | 66-171 | | 財務摘要 | 172 | 1 中國恒天立信國際有限公司 2020 年報 公司資料 公司資料 | --- ...

中 國 恒 天 立 信 國 際 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：641） 智能染整 立信創造 二零二零年中期報告 @ 1 中國恒天立信國際有限公司 二零二零年 中期報告 簡明綜合財務狀況表 5-6 簡明綜合財務報告附註 9-20 管理層論述及分析 21-28 其他資料 29-34 目錄 頁次 公司資料 2 財務概覽 3 簡明綜合損益及其他全面收益表 4 簡明綜合權益變動表 7 簡明綜合現金流量表 8 中國恒天立信國際有限公司 二零二零年 中期報告 2 公司資料 於香港之主要往來銀行 創興銀行有限公司 中國銀行（香港）有限公司 恒生銀行有限公司 富邦銀行（香港）有限公司 大新銀行有限公司 中國信託商業銀行股份有限公司 香港上海滙豐銀行有限公司 永遠榮譽主席 方壽林先生 董事會 執行董事 葉茂新先生（主席） 管幼平先生（首席執行官） 杜謙益先生（首席財務官） 吳旭東先生 於中華人民共和國之主要往來銀行 中國銀行股份有限公司 中國工商銀行股份有限公司 非執行董事 方國樑先生 獨立非執行董事 應偉先生 袁銘輝博士 李建新先生 百慕達主要股份過戶登記處 MUFG Fund Services ...