Revenue Performance - Total revenue for the six months ended June 30, 2024, was $3,232,000, an increase from $3,085,000 in the same period of 2023, representing a growth of approximately 4.8%[6] - Revenue from the production and sale of footwear products was $1,033,000 for the six months ended June 30, 2024, compared to $784,000 in 2023, indicating a significant increase of about 31.8%[6] - Rental income from leased properties was $2,199,000 for the six months ended June 30, 2024, slightly down from $2,301,000 in the same period of 2023, reflecting a decrease of approximately 4.4%[6] - For the six months ended June 30, 2024, total revenue was $3,232,000, compared to $3,085,000 for the same period in 2023, representing an increase of 4.8%[8] - Revenue from footwear products was $1,033,000 for the six months ended June 30, 2024, up from $784,000 in the same period of 2023, indicating a growth of 31.8%[9] - Rental property revenue was $2,199,000 for the six months ended June 30, 2024, compared to $2,301,000 in the same period of 2023, showing a decrease of 4.4%[9] Profitability - The company's net profit attributable to owners for the period was $1,968,000, compared to $1,264,000 in the same period of 2023, marking an increase of approximately 55.5%[1] - Basic earnings per share for the period were $0.02, up from $0.01 in the same period of 2023, indicating a 100% increase[1] - Total comprehensive income for the period attributable to owners was $872,502, compared to $707,205 in the same period of 2023, representing an increase of approximately 23.3%[1] - The company reported a pre-tax profit of $152,000 for the six months ended June 30, 2024, compared to $189,000 for the same period in 2023, reflecting a decline of 19.6%[10] - Basic earnings per share for the six months ended June 30, 2024, were $165,000, down from $297,000 for the same period in 2023, indicating a decrease of 44.4%[17] Assets and Liabilities - Non-current assets totaled $86,701,000 as of June 30, 2024, slightly down from $86,952,000 as of December 31, 2023[2] - Current assets increased to $12,577,000 as of June 30, 2024, compared to $12,064,000 as of December 31, 2023, reflecting a growth of approximately 4.3%[2] - The company's total equity was $78,710,000 as of June 30, 2024, a slight decrease from $78,780,000 as of December 31, 2023[2] - The company reported a net asset value of $9,058,000 for current assets, up from $8,862,000 as of December 31, 2023, indicating an increase of approximately 2.2%[2] - The total trade and other receivables as of June 30, 2024, amounted to $2,741,000, compared to $1,718,000 as of December 31, 2023[20] - The total trade payables as of June 30, 2024, were $2,703,000, an increase from $2,137,000 as of December 31, 2023[22] Employee Costs - Total employee costs increased to $1,401,000 for the six months ended June 30, 2024, from $1,142,000 in the same period of 2023, marking a rise of 22.6%[12] Dividends - The company declared a final dividend of $942,000 for the year ending December 31, 2023, compared to zero for the same period in 2022[16] Financial Management - Interest expense on lease liabilities decreased to $18,000 for the six months ended June 30, 2024, from $21,000 in the same period of 2023, a reduction of 14.3%[10] - The group maintains a financial risk management policy to ensure all payables are settled within the credit period[22] - The group has made sufficient provisions in the financial statements for claims related to housing provident fund[24] Economic Outlook - The overall economic outlook for the second half of 2024 remains uncertain, with expectations of a generally weak consumer sentiment and challenging operations[26] - The group plans to adjust its operational strategies as needed to maintain financial stability in response to market challenges[26] - Rental income from idle factory leasing has provided good cash flow for the group, with a cautious approach to finding new tenants due to economic fluctuations in mainland China[26] Cash Flow and Capital - The group reported cash and cash equivalents of $9,496,000 as of June 30, 2024, slightly down from $9,858,000 on December 31, 2023[27] - The group has no bank borrowings as of June 30, 2024, and management believes it can maintain sufficient operating capital for future expansion[27] Footwear Exports - For the first half of 2024, the group's footwear exports remained stable, approximately the same as last year, despite a complex global environment and inflationary pressures[26]

Financial Performance - The company's revenue for the year ended December 31, 2023, was $6,039,000, a decrease of 34.7% compared to $9,254,000 in 2022[12] - The profit before tax for the year was $120,000, down from $1,833,000 in 2022, reflecting a decrease of $1,713,000[12] - The net profit after tax was $451,000, compared to $1,683,000 in the previous year, indicating a significant decline[12] - The basic earnings per share for the year were 0.06 cents, down from 0.23 cents in 2022[12] - The gross profit margin for the year was 52.4%[12] Cash and Liquidity - The company maintained a cash and cash equivalents balance of $9,858,000, an increase from $8,588,000 in 2022[13] - The current ratio improved to 3.8 times, up from 3.0 times in the previous year[13] - The company has no bank borrowings and continues to implement strict cost control measures[13] Strategic Outlook - The outlook for 2024 remains challenging due to high interest rates and ongoing geopolitical tensions[9] - The management plans to continue seeking suitable new tenants to optimize existing resources[9] Corporate Governance - The board of directors consists of four executive directors and three independent non-executive directors, ensuring compliance with listing rules[25] - The board held four meetings during the year, adhering to the requirement of at least four meetings annually[30] - The chairman and the CEO roles are separated to enhance accountability and independence[37] - The company has received annual confirmations regarding the independence of its independent non-executive directors[29] - All directors are insured against legal claims, ensuring protection in case of litigation[35] - The company is committed to high ethical standards and sustainable development as part of its corporate culture[20] - The board is responsible for overseeing all significant matters, including policy formulation and risk management[25] Board Composition and Diversity - The nomination committee is composed entirely of independent non-executive directors, chaired by Mr. Ng Man Yin[65] - The company has established a diversity policy for the board, ensuring it is not composed solely of one gender[73] - Independent non-executive directors are required to be re-elected at least every three years[60] - The board of directors currently consists solely of male members, with plans to appoint a female director by March 28, 2024, to enhance gender diversity and provide balanced perspectives in strategic decision-making[77] Director Responsibilities and Development - All directors are required to participate in ongoing professional development to enhance their knowledge and skills, with training provided on regulatory updates and relevant business operations[93] - The company ensures that all directors receive timely and appropriate information to make informed decisions and fulfill their responsibilities[103] - The company has a formal and transparent process for appointing new directors[60] Risk Management and Internal Controls - The company has conducted an annual review of its internal control system, covering all significant monitoring aspects, including financial, operational, and compliance controls[135] - The board is responsible for evaluating the nature and extent of risks acceptable in achieving strategic objectives and ensuring effective risk management systems are in place[129] - The audit committee held 2 meetings during the year to review financial performance and compliance procedures[150] - The company confirmed that it has established an internal audit function and will review its necessity annually if not in place[147] Performance and Growth - The company reported a revenue of $500 million for the fiscal year 2023, representing a 15% increase compared to the previous year[198] - User data showed a growth of 20% in active users, reaching a total of 2 million users by the end of 2023[199] - The company provided a forward guidance of 10% revenue growth for the next fiscal year, projecting revenues to reach $550 million[200] - New product launches contributed to 30% of total revenue, indicating strong market demand for innovative solutions[198] - The company invested $50 million in R&D for new technologies, focusing on enhancing product features and user experience[199] - Market expansion efforts led to a 25% increase in sales in the Asia-Pacific region, highlighting successful penetration strategies[200] - The company is exploring potential acquisitions to enhance its market position, with a budget of $100 million allocated for this purpose[198] - A new strategic partnership was formed with a leading tech firm, expected to drive synergies and boost revenue by 5% in the upcoming year[199] - The company reported a net profit margin of 12%, up from 10% in the previous year, reflecting improved operational efficiency[200] - Customer satisfaction ratings improved to 85%, indicating a positive response to recent product enhancements and customer service initiatives[198]

Financial Performance - For the year ended December 31, 2023, the company reported total revenue of $36.039 million, a decrease of 61.0% compared to $9.254 million in 2022[2]. - The cost of sales and services was $2.877 million, down from $4.731 million in the previous year, reflecting a 39.2% reduction[2]. - Gross profit for the year was $3.162 million, compared to $4.523 million in 2022, indicating a decline of 30.1%[2]. - Other income increased to $1.044 million from $457,000, representing a significant growth of 128.5%[2]. - The company recorded a profit before tax of $4.120 million, compared to $1.833 million in the prior year, marking an increase of 124.5%[2]. - Net profit attributable to owners of the company was $451,000, a decrease of 73.3% from $1.683 million in 2022[2]. - The earnings per share for the year was 0.06 cents, down from 0.23 cents in the previous year, reflecting a decline of 73.9%[2]. - The company reported a total comprehensive income of $725,000, compared to a loss of $1.809 million in 2022, indicating a turnaround[2]. - The group recorded a net profit after tax of $451,000 for the year ended December 31, 2023, down from $1,683,000 in 2022, with revenue decreasing by 34.7% from $9,254,000 to $6,039,000[42][50]. - The net profit after tax was $451,000, down from $1,683,000 in the previous year, resulting in basic earnings per share of $0.06 compared to $0.23 in 2022[51]. Revenue Breakdown - Total revenue for the year 2023 was $6,039,000, a decrease of 34.5% from $9,254,000 in 2022[17]. - Revenue from the production and sale of footwear products was $1,687,000, down 66.7% from $5,051,000 in the previous year[17]. - Rental income from properties was $4,352,000, an increase of 3.5% from $4,203,000 in 2022[17]. - Revenue from the United States for footwear products was $675,000, a decrease of 74.5% from $2,644,000 in 2022[24]. - Major customer A contributed $1,687,000 to total revenue in 2023, down from $5,051,000 in 2022[25]. Assets and Liabilities - As of December 31, 2023, total non-current assets amounted to $86,952,000, a slight decrease of 1% from $87,822,000 in 2022[5]. - Current assets increased to $12,064,000, up from $11,792,000, reflecting a growth of approximately 2.3%[5]. - The company's cash and cash equivalents rose to $9,858,000, representing an increase of 14.8% compared to $8,588,000 in the previous year[5]. - Total liabilities decreased to $17,034,000 from $17,166,000, indicating a reduction of about 0.8%[5]. - The total equity increased to $78,780,000, up from $78,547,000, marking a growth of approximately 0.3%[5]. - Trade and other receivables decreased significantly to $1,279,000 from $2,196,000, a decline of about 41.8%[5]. - The company reported a net current asset value of $8,862,000, an increase of 12.3% from $7,891,000 in 2022[5]. - The company’s non-current assets in China were valued at $86,513,000, slightly down from $87,616,000 in 2022[24]. Cost Management - Total employee costs for 2023 amounted to $2,299,000, slightly down from $2,333,000 in 2022, reflecting a decrease of 1.46%[27]. - Total trade and other payables decreased to $2,137,000 in 2023 from $2,601,000 in 2022, a reduction of 17.8%[36]. - The company incurred a net foreign exchange loss of $53,000 in 2023, a significant improvement compared to a loss of $405,000 in 2022[28]. - The company’s total inventory capitalization improved to $(965,000) in 2023 from $(1,138,000) in 2022, indicating better inventory management[27]. - Deferred tax expenses for 2023 were $(331,000), compared to $(150,000) in 2022, reflecting a significant increase in tax liabilities[28]. Strategic Plans - The company plans to focus on market expansion and new product development in the upcoming year[2]. - The company is exploring potential mergers and acquisitions to enhance its market position and growth prospects[2]. - The management will continue to seek suitable new tenants for property leasing to enhance value amid a tough economic environment[47]. - The group anticipates a challenging outlook for 2024 due to high interest rates and ongoing geopolitical tensions affecting consumer spending[47]. Corporate Governance - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial performance for the year[8]. - The company has changed its functional currency to Renminbi, effective from the reporting period, with the financial statements continuing to be presented in US dollars[7]. - The company did not buy, sell, or redeem any of its shares during the reporting period[58]. - The company fully complied with the corporate governance code throughout the fiscal year[59].

Financial Performance - Total revenue for the six months ended June 30, 2023, was $3,085,000, a decrease of 41.5% compared to $5,261,000 for the same period in 2022[3] - Gross profit for the same period was $1,895,000, down 30.4% from $2,720,000 in 2022[3] - The company reported a profit attributable to owners of $297,000, a decline of 39.2% from $489,000 in the previous year[3] - Revenue from the production and sale of footwear products was $784,000, a significant drop of 72.5% from $2,847,000 in 2022[10] - Rental income from leased properties was $2,301,000, slightly down from $2,414,000 in the previous year[10] - The total comprehensive income for the period was $502,000, compared to a loss of $1,613,000 in the same period last year[5] - The segment performance for shoe products reported a loss of $383,000, while rental properties generated a profit of $2,129,000, resulting in a total segment profit of $1,746,000[14] - The company reported a pre-tax profit of $189,000 for the six months ended June 30, 2023, down from $556,000 in the same period of 2022, reflecting a decline of 66.0%[14][18] - Basic earnings per share for the period were $297,000, compared to $489,000 for the same period in 2022, indicating a decrease of 39.2%[22] - Basic earnings per share for the six months ended June 30, 2023, were 0.04 cents, compared to 0.07 cents for the same period in 2022[35] Cash Flow and Assets - The cash and cash equivalents increased to $10,535,000 as of June 30, 2023, compared to $8,588,000 at the beginning of the period[6] - The company generated a net cash inflow from operating activities of $1,899,000, an increase from $1,747,000 in the same period last year[6] - The company's total equity increased to $79,049,000 as of June 30, 2023, from $78,547,000 at the end of the previous year[4] - The company’s non-current assets, including investment properties, totaled $87,799,000, remaining relatively stable compared to $87,822,000 at the end of 2022[4] - Trade receivables decreased significantly to $369,000 as of June 30, 2023, from $1,741,000 as of December 31, 2022, representing a decline of 78.8%[26] - The fair value of financial assets measured at fair value through profit or loss was $567,000 as of June 30, 2023, compared to $451,000 as of December 31, 2022[31] - As of June 30, 2023, the group's net asset value was $79,049,000, with current assets of $12,426,000 and current liabilities of $4,031,000, resulting in a current ratio of 3.1[37] - The group had cash and cash equivalents of $10,535,000 as of June 30, 2023, an increase from $8,588,000 on December 31, 2022[37] - The current ratio improved from 3.0 as of December 31, 2022, to 3.1 as of June 30, 2023, indicating a stable financial position[37] - The company has no bank borrowings as of June 30, 2023, relying on operating cash flow to meet its obligations[37] Expenses and Costs - The total employee costs for the period were $1,142,000, down from $1,592,000 in the previous year, reflecting a reduction of 28.3%[18] - The company incurred interest expenses on lease liabilities of $21,000 for the six months ended June 30, 2023, compared to $19,000 for the same period in 2022[17] - The company has implemented strategies to control expenses and reduce costs in response to ongoing economic challenges and declining market demand[36] Dividends and Shareholder Information - The company declared an interim dividend of HK$0.01 per share, consistent with the previous year's interim dividend[21] - The company declared an interim dividend of 1.0 HKD cent per ordinary share for the six months ended June 30, 2023[33] - The total issued shares of the company amounted to 468,743,940, with Pegasus Footgear Management Limited holding a 64% stake[43] - The board members collectively held 9,000,000 shares, representing 1.23% of the total issued shares[38] - No arrangements were made for the purchase of shares or debt securities by the company's directors during the reporting period[41] - The company did not buy, sell, or redeem any of its listed securities in the six months ending June 30, 2023[44] Governance and Compliance - The company maintained compliance with all provisions of the corporate governance code during the reporting period, except for a minor oversight regarding the appointment of independent non-executive directors[45] - The audit committee reviewed the group's unaudited consolidated financial information for the six months ending June 30, 2023, discussing risk management and internal controls[47] Business Strategy - The company continues to seek suitable tenants for its rental business to diversify its revenue streams amid a challenging economic environment[36] - The company has made adequate provisions for employee claims related to housing provident funds, with ongoing legal proceedings[29] - The average credit period granted to trade customers is 60 days, with trade receivables aging analysis showing a significant reduction in amounts overdue[26] - The average credit period for purchased goods is 90 days, with trade payables aging analysis showing $511,000 overdue by more than 60 days as of June 30, 2023[27]

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佈之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 PEGASUS INTERNATIONAL HOLDINGS LIMITED 創 信 國 際 控 股 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：676） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 佈 創信國際控股有限公司（「本公司」）董事（「董 事」）會欣然公佈本公司及其附屬公 司（「本集團」）截至二零二三年六月三十日止六個月之未審核綜合業 績，連同二 零二二年同期之比較數字。 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 附註 千美元 千美元 （未審核） （未審核） 收入 3 3,085 5,261 銷售成本及服務 (1,190) (2,541) 毛利 1,895 2,720 ...

Financial Performance - For the year ended December 31, 2022, the company recorded revenue of $9,254,000, an increase of 26.6% compared to $7,308,000 in 2021[17] - The company achieved a profit before tax of $1,833,000, a significant increase of $2,995,000 from a loss of $1,162,000 in the previous year[17] - The net profit after tax for the year was $1,683,000, compared to a loss of $957,000 in 2021, resulting in a basic earnings per share of $0.23, up from a loss of $0.13 per share[17] - The gross profit margin improved to 48.9% for the year[17] Liquidity and Cash Flow - The company maintained a current ratio of 3.0, up from 2.3 in the previous year, reflecting a strong liquidity position[19] - Cash and cash equivalents at year-end were $8,588,000, slightly down from $8,780,000 in 2021[19] - The company has successfully rented out several idle properties, contributing to stable cash flow[21] - The company plans to continue seeking suitable tenants to enhance revenue from property leasing[21] - The order volume for shoe exports has increased compared to the previous year, indicating a positive trend in sales[21] Corporate Governance - The company has adopted and fully complied with the corporate governance code as per the listing rules throughout the year ending December 31, 2022[51] - The board of directors held four meetings during the year, adhering to the requirement of at least four meetings annually[40] - The company aims to create value for shareholders and become a trusted leader in the footwear industry, focusing on sustainable development[52] - All directors have received insurance coverage for legal proceedings they may face[49] - The company has established a competitive compensation package for employees, linking promotions and salary increases to performance[28] Board Structure and Responsibilities - The board is responsible for monitoring all significant matters, including policy formulation and risk management systems[54] - The company has a clear separation of powers and authority between the board's management and daily operations[60] - The board has reviewed its composition to ensure a balanced mix of expertise, skills, independence, and diverse perspectives[69] - The chairman is responsible for ensuring effective corporate governance practices and encouraging active contributions from all directors[65] - The company has established a nomination committee composed entirely of independent non-executive directors, chaired by Mr. Liu Zhonggang[95] Board Diversity and Inclusion - The company emphasizes the importance of board diversity as a key element in achieving strategic goals and sustainable development[100] - The board diversity policy prohibits the formation of a board consisting solely of one gender[102] - The company will continue to encourage female employees to participate in organizational activities and express their opinions in various employee groups[103] - The board of directors currently consists solely of male members, with a commitment to appoint at least one female director by the end of 2024[103] Director Training and Development - All directors are required to participate in ongoing professional development to enhance their knowledge and skills[135] - The company is committed to providing appropriate training for all directors and covering related expenses[135] - The attendance rate for board meetings and committee meetings is considered satisfactory[126] - The company aims to ensure that all directors are well-informed about their responsibilities and the company's operations[143] Compensation and Risk Management - The compensation committee is currently composed of all independent non-executive directors, chaired by Mr. Lai Zhenyang[149] - The company has established a specific written authority for the compensation committee, which reviews the compensation of all directors annually[195] - The board is responsible for evaluating the nature and extent of risks acceptable in achieving strategic goals and ensuring effective risk management systems[178] - The company has established a risk management and internal control system, with management responsible for providing timely information to the board[190] Communication and Reporting - The board aims to present a balanced, clear, and accurate assessment of the company's situation to shareholders and the public[177] - The company has effective communication channels with shareholders to convey their views to the board[88] - Monthly updates on the issuer's performance, condition, and prospects are provided to all board members for fair and understandable evaluations[198] - The annual report includes discussions and analyses regarding the group's performance and the basis for long-term value generation or retention[199]

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佈之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 PEGASUS INTERNATIONAL HOLDINGS LIMITED 創 信 國 際 控 股 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：676） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 經 審 核 年 度 業 績 公 佈 經審核年度業績 創信國際控股有限公司（「本公司」）董事會（「董事會」）宣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經審核綜合業績連同二零 二一年相應期間的比較數據。 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was $5,261,000, an increase of 51.1% compared to $3,479,000 for the same period in 2021[5] - Gross profit for the same period was $2,720,000, up 88.9% from $1,441,000 in 2021[5] - Profit before tax increased significantly to $556,000, compared to $70,000 in the previous year, representing a growth of 694.3%[5] - Net profit attributable to owners of the company for the period was $489,000, compared to $68,000 in 2021, marking a substantial increase of 620.6%[5] - Basic earnings per share for the period were $0.000669, based on a profit attributable to owners of $489,000, compared to $0.000093 for the same period in 2021[33] - Basic earnings per share for the six months ended June 30, 2022, were 0.07 cents, compared to 0.01 cents for the same period in 2021[53] Cash Flow and Liquidity - The company reported a net cash inflow from operating activities of $1,747,000, compared to $826,000 in the prior year[11] - Cash and cash equivalents at the end of the period increased to $10,399,000 from $8,780,000 at the beginning of the year[11] - The current ratio improved to 2.4 times as of June 30, 2022, compared to 2.3 times on December 31, 2021, indicating better liquidity management[55] - The group has no bank borrowings as of June 30, 2022, relying on operating cash flow to meet its obligations[55] Assets and Equity - The company’s total equity as of June 30, 2022, was $78,003,000, down from $79,616,000 at the end of 2021[7] - The company’s non-current assets totaled $86,507,000, a slight decrease from $89,268,000 at the end of 2021[7] - The group’s total assets as of June 30, 2022, included investment properties valued at $18,400,000, down from $19,660,000 at the beginning of the year[36] - As of June 30, 2022, the group's total net assets amounted to $78,003,000, with current assets of $13,565,000 and non-current assets of $86,507,000[55] Revenue Sources - Revenue from the production and sale of footwear products was $2,847,000, up from $2,095,000, marking a 36% increase year-over-year[18] - Rental income from properties increased to $2,414,000 from $1,384,000, reflecting a 74.4% growth compared to the previous year[18] Expenses and Liabilities - The cost of inventory recognized as an expense was $2,356,000, compared to $1,908,000 in the same period of 2021, indicating a 23.5% increase[27] - The company’s tax expense for the period was $67,000, significantly higher than $2,000 in the same period of the previous year[28] - Total trade and other payables as of June 30, 2022, were $3,303,000, an increase from $2,963,000 as of December 31, 2021[40] Strategic Focus and Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[5] - The group continues to seek suitable tenants for leasing idle domestic factories, aiming to stabilize income amidst global economic uncertainties[54] - Orders for quality footwear have started to stabilize due to the easing of pandemic measures in Europe and the United States, which is a cornerstone of the group's business[54] - The management is committed to leveraging existing resources to convert them into stable revenue streams despite ongoing global challenges[54] - The geopolitical situation remains tense, which may impact macroeconomic recovery in the coming months[54] - The group is focused on embracing challenges and seizing potential opportunities in the market[54] Corporate Governance - The board plans to appoint a new independent non-executive director before the fiscal year starting January 1, 2023, to comply with corporate governance codes[71] Dividends - The company declared an interim dividend of HK$0.01 per share, compared to no dividend in the previous year[32] - The company declared an interim dividend of 1.0 HKD cent per ordinary share for the six months ended June 30, 2022[51]

Financial Performance - The company's revenue for the year ended December 31, 2021, was $7,308,000, an increase of 118% compared to $3,352,000 in 2020[20] - The pre-tax loss for the year was $1,162,000, a decrease of $1,482,000 from a pre-tax profit of $320,000 in 2020[20] - The net loss after tax was $957,000, compared to a net loss of $625,000 in the previous year[20] - The basic loss per share for the year was 0.13 cents, compared to 0.08 cents in 2020[20] - The gross profit margin for the year was 31.8%[20] Liquidity and Financial Position - The company maintained a current ratio of 2.3, up from 1.8 in 2020, with total current assets of $12,587,000[22] - Cash and cash equivalents at year-end were $8,780,000, down from $9,754,000 in 2020[22] - The company had no bank borrowings as of December 31, 2021[22] Operational Developments - The company successfully leased several idle factories in China, contributing to stable cash flow[18] - The company will continue to explore new tenants and negotiate leases to develop new revenue sources[18] Corporate Governance - The board of directors held four meetings during the year, all of which were regular meetings[38] - The company has complied with the listing rules by appointing at least three independent non-executive directors, with at least one possessing appropriate professional qualifications or relevant financial management expertise[32] - The chairman and the managing director roles are held by different individuals, ensuring a clear division of responsibilities[52] - The company has established procedures for directors to seek independent professional advice at the company's expense when necessary[51] - All directors are provided with insurance coverage regarding legal proceedings they may face[51] - The company has a clear process for ensuring that all directors are adequately informed and receive timely and complete information[58] - The chairman is responsible for leading the board and ensuring its effective operation and accountability[53] - The board has mechanisms in place to allow directors to propose matters for discussion at board meetings[40] - The company has confirmed the independence of its independent non-executive directors in accordance with the listing rules[48] - The board meetings' minutes are sufficiently detailed to record the matters discussed and decisions made[49] - The board of directors has established a diversity policy that emphasizes diversity in thought, experience, skills, knowledge, perspectives, and gender[112] - The nomination committee consists of three independent non-executive directors, chaired by Mr. Liu Zhonggang[93] - The company has implemented a formal and transparent process for the appointment of new directors, ensuring orderly succession planning[90] - Independent non-executive directors have designated terms and are subject to re-election[91] - The board composition is regularly reviewed to ensure a balanced mix of skills, experience, and independence[87] - The company has effective communication channels with shareholders, ensuring their views are conveyed to the board[76] - The board is responsible for evaluating the independence of independent non-executive directors, especially those serving over nine years[91] - The company has disclosed the names and roles of all directors in its communications, ensuring transparency[88] - The nomination committee has a clear written mandate defining its powers and responsibilities[100] - The company provides sufficient resources to the nomination committee to fulfill its duties, including access to independent professional advice[104] - The board held a total of 4 meetings, with all executive directors attending all sessions[115] - Independent non-executive directors attended 100% of their respective committee meetings, demonstrating strong engagement[115] - All directors participated in ongoing professional development to enhance their knowledge and skills[133] - The company has adopted written guidelines for securities trading that comply with the standards set for employees[121] - All directors disclosed their positions in public companies and organizations annually, ensuring transparency[133] - The company provided training to all directors, covering regulatory updates and relevant business operations[133] - Independent non-executive directors actively contributed independent and constructive opinions during board meetings[141] - Management is responsible for providing timely and sufficient information to the board for informed decision-making[146] - The company ensures that board meeting agendas and related documents are sent to all directors at least three days prior to meetings[145] - The board has established independent access for each director to senior management for effective communication[146] Compensation and Performance Evaluation - The compensation committee consists of three independent non-executive directors, chaired by Mr. Lai Chen Yang[152] - The company has reviewed the compensation of all directors annually, ensuring transparency and adherence to guidelines[153] - The salary range for senior management members is disclosed, with 7 individuals earning between $1 and $100,000[156] - The board is responsible for evaluating the company's performance, situation, and prospects in a balanced and clear manner[157] - Management provides detailed reports and explanations to the board for informed assessments of financial and other data[157] Risk Management and Internal Control - The company has established a risk management and internal control system to ensure compliance and safeguard assets[162] - The board conducts annual reviews of the effectiveness of the internal control system, covering all significant monitoring aspects[167] - The company ensures that resources, staff qualifications, and training in accounting and financial reporting are adequate[167] - The compensation committee has been provided with sufficient resources to fulfill its responsibilities[155] - The company has published its authority and functions of the compensation committee on the stock exchange and its website[155] - The company engaged independent professional organizations to assist the board and audit committee in continuously monitoring the group's risk management and internal control systems[175] - The audit committee held a total of 2 meetings during the year to review financial performance and compliance procedures[177] - The audit committee's scope of authority has been revised to cover responsibilities as stipulated in the code provisions[189] - The company will provide the necessary assistance requested by the audit committee, with related costs borne by the company[196] - The board and audit committee had no disagreements regarding the appointment or dismissal of external auditors during the year[194] - The board has clearly defined the responsibilities and accountability of both the board and management[199] - The company has disclosed the detailed terms and conditions of the director's appointment[200] - The board's responsibilities include setting the company's strategic development and policies, establishing management objectives, monitoring management performance, and overseeing customer relationships[198]

Financial Performance - The company reported a profit attributable to owners of $68,000 for the six months ended June 30, 2021, compared to a loss of $2,551,000 in the same period last year[3]. - Total revenue for the six months was $3,479,000, a significant increase from $1,422,000 in the previous year, representing a growth of approximately 144%[4]. - Gross profit for the period was $1,441,000, compared to $450,000 in the prior year, indicating a substantial improvement in profitability[4]. - The company recorded a total comprehensive income of $2,052,000 for the period, up from $1,387,000 in the previous year, reflecting a year-over-year increase of about 48%[4]. - The company reported a net profit of $68,000 for the six months ended June 30, 2021, compared to a net loss of $2,551,000 for the same period in 2020[29]. - The pre-tax profit for the six months ended June 30, 2021, was $70,000, compared to a pre-tax loss of $2,550,000 for the same period in 2020[48]. Cash Flow and Assets - The net cash generated from operating activities was $826,000, a recovery from a cash outflow of $1,796,000 in the same period last year[10]. - The company's total assets increased to $63,296,000 as of June 30, 2021, compared to $60,986,000 at the end of 2020, showing a growth of approximately 4%[6]. - The company’s cash and cash equivalents at the end of the period were reported at $10,447,000, slightly down from $10,696,000 at the end of the previous period[10]. - Total trade receivables as of June 30, 2021, amounted to $605,000, an increase from $591,000 as of December 31, 2020[35]. - Total trade payables as of June 30, 2021, were $636,000, significantly up from $198,000 as of December 31, 2020[37]. - The company's total net assets as of June 30, 2021, were $54,967,000, with current assets of $14,280,000 and current liabilities of $7,927,000, resulting in a current ratio of approximately 1.80[51]. Revenue Breakdown - Revenue from footwear production and sales was $2,095,000, while rental income from properties was $1,384,000 for the six months ended June 30, 2021[17]. - The operating profit for the footwear segment was $135,000, and for the rental properties segment, it was $1,254,000, leading to a total segment profit of $1,389,000[17]. - Total revenue for the six months ended June 30, 2021, was $3,479,000, an increase from $1,422,000 for the same period in 2020, representing a growth of 144.5%[17]. Earnings Per Share - The company’s basic earnings per share improved to $0.01 compared to a loss per share of $0.35 in the previous year[4]. - Basic earnings per share for the six months ended June 30, 2021, were $0.000093, compared to a loss per share of $0.00349 for the same period in 2020[29]. - Basic earnings per share for the six months ended June 30, 2021, were $0.01, compared to a basic loss per share of $0.35 for the same period in 2020[48]. Costs and Expenses - The cost of inventory recognized as an expense was $1,908,000 for the six months ended June 30, 2021, compared to $942,000 in 2020, indicating a significant increase in costs[21]. - The interest expense on lease liabilities for the six months ended June 30, 2021, was $20,000, slightly down from $21,000 in the same period of 2020[20]. Corporate Governance and Management - The company did not declare any dividends for the interim period ended June 30, 2021[27]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2021[65]. - The company has complied with the corporate governance code as per the listing rules during the reporting period[66]. - The audit committee reviewed the unaudited consolidated financial information for the six months ending June 30, 2021, discussing risk management and internal controls[68]. Future Outlook - The management plans to continue negotiating new leasing contracts to effectively utilize the company's assets and increase returns[49]. - The company is cautious about future market conditions due to the ongoing impact of the COVID-19 pandemic, despite an increase in customer orders in the shoe business[49]. - The company believes it can maintain sufficient working capital for operations and future expansion[51]. Shareholding Structure - As of June 30, 2021, the company had a total of 9,000,000 shares held by directors, representing 1.23% of the issued share capital[53]. - Pegasus Footgear Management Limited holds 468,743,940 shares, accounting for 64% of the company's issued share capital[63]. Revaluation and Investments - The company recognized a revaluation surplus of $4,944,000 during the period, contributing positively to the overall equity[4]. - The fair value of investment properties as of June 30, 2021, was $28,316,000, up from $6,796,000 as of June 30, 2020[32]. - The company did not acquire any property, plant, or equipment during the interim period ended June 30, 2021[34].