Core Viewpoint - The company, Chuangxin International (00676.HK), will hold a board meeting on August 28, 2025, to consider and approve its interim results for the six months ending June 30, 2025, and to discuss the proposal for an interim dividend, if any [1] Group 1 - The board meeting will take place at New Kowloon Plaza, 807, 8th Floor, 38 Tai Kok Tsui Road, Kowloon, Hong Kong [1] - The meeting is scheduled for Thursday, August 28, 2025 [1]

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。 創信國際控股有限公司 主 席 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） 董事會召開日期 創 信 國 際 控 股 有 限 公 司（「本公司」）董 事 會（「董事會」）宣 佈，本 公 司 將 於 二 零 二 五 年 八 月 二 十 八 日（星 期 四）假 座 香 港 九 龍 大 角 咀 道38號新九龍廣場8樓807室舉行 董 事 會 會 議，以 考 慮 及 批 准（其 中 包 括）本 公 司 及 其 附 屬 公 司 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 的 中 期 業 績，以 及 考 慮 派 發 中 期 股 息（如 有）的 建 議。 承董事會命 吳振山 香 港，二 零 二 五 年 八 月 十 四 日 於 本 公 佈 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 創信國際控股有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00676 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,500,000,000 | HKD | | 0.1 | HKD | | 150,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,500,000,000 | HKD | | 0.1 | HKD | | 150,000,000 | | 2. 股份分類 ...

Group 1 - As of June 3, a total of 105 stocks reached their 52-week highs, with Huayin International Holdings (00989), Dingyifeng Holdings (00612), and Youquhui Holdings (02177) leading the high rate at 57.26%, 37.93%, and 23.02% respectively [1] - The closing prices and highest prices for the top three stocks are as follows: Huayin International Holdings at 1.370 and 1.950, Dingyifeng Holdings at 0.770 and 0.800, and Youquhui Holdings at 3.550 and 3.580 [1] - Other notable stocks that reached their 52-week highs include China Antibody-B (03681) with a high rate of 21.62% and Fengcheng Holdings (02295) at 19.52% [1] Group 2 - The report also lists stocks that reached their 52-week lows, with Des Holdings (08437) showing the largest decline at -38.79%, followed by Dimi Life Holdings (01667) at -20.50% [3] - The closing prices and lowest prices for the top three stocks that reached their lows are: Des Holdings at 0.177 and 0.071, Dimi Life Holdings at 0.140 and 0.128, and Lujizhi Technology (01745) at 0.197 and 0.194 [3] - Other stocks with significant declines include GBA Group (00261) at -11.48% and Baide International (02668) at -10.88% [3]

Financial Performance - The company's revenue for the year ended December 31, 2024, was $5,867,000, a decrease of 2.8% compared to $6,039,000 in 2023[10]. - The company recorded a pre-tax loss of $1,756,000 for the year, a decrease of $1,876,000 from a pre-tax profit of $120,000 in 2023[10]. - The net loss after tax for the year was $1,060,000, compared to a profit of $451,000 in 2023, resulting in a basic loss per share of $0.15[10]. - The gross profit margin for the year turned to 62.1%[10]. Liquidity and Financial Health - The company maintained a current ratio of 5.4, up from 3.8 in 2023, reflecting a total current asset value of $12,384,000 against current liabilities of $2,310,000[12]. - The company had cash and cash equivalents of $8,651,000 as of December 31, 2024, down from $9,858,000 in 2023[12]. - The company continues to adopt a conservative policy in resource allocation, maintaining a low level of debt ratio[11]. Corporate Governance - The board of directors consists of five executive directors and three independent non-executive directors, ensuring compliance with listing rules[25]. - The company held four board meetings during the year, adhering to the requirement of at least four meetings annually[28]. - Independent non-executive directors confirmed their independence in accordance with listing rules, ensuring governance integrity[27]. - The roles of the chairman and the CEO are clearly separated to enhance accountability and governance[36]. - The chairman is responsible for leading the board and ensuring effective operation and decision-making[38]. - The company has established procedures for directors to seek independent professional advice at the company's expense[32]. - All directors are provided with appropriate insurance coverage for legal proceedings they may face[32]. - The company has implemented a structured approach to ensure all directors are adequately informed of current matters[37]. - The board meetings are documented with sufficient detail to record discussions and decisions made[30]. - The company ensures that all directors receive timely and complete information for board discussions[39]. - The company has established effective corporate governance practices, ensuring compliance with relevant guidelines[40]. - The board composition is balanced with a mix of executive and independent non-executive directors, promoting independent judgment[41]. - The nomination committee is composed entirely of independent non-executive directors, enhancing governance transparency[50]. - The company has a diversity policy for the board, ensuring no single-gender board composition and considering various factors for member selection[55]. - Independent non-executive directors are subject to re-election every three years, ensuring accountability[48]. - The company has implemented a formal and transparent process for appointing new directors, including succession planning[43]. - The nomination committee evaluates the independence of non-executive directors and recommends suitable candidates for the board[52]. - The company provides sufficient resources for the nomination committee to fulfill its responsibilities, including independent professional advice[54]. - The board regularly reviews its structure and composition to align with the company's strategic needs[41]. - The company has established effective communication channels with shareholders to convey their opinions to the board[40]. - The board appointed a new female director on March 28, 2024, aiming for gender diversity and balanced perspectives in strategic decision-making[57]. - The attendance rate for board meetings and committee meetings was satisfactory, with a total of 4 board meetings, 2 audit committee meetings, 2 remuneration committee meetings, and 2 nomination committee meetings held during the year[61]. - All directors participated in ongoing professional development to enhance their knowledge and skills, ensuring they contribute effectively to the board[70]. - Independent non-executive directors actively contributed to the company's affairs and attended shareholder meetings to address shareholder inquiries[78]. Employee and Environmental Policies - The company has adopted written guidelines for employee trading of the issuer's securities, ensuring compliance with the standard code of conduct[68]. - All newly appointed directors received comprehensive and formal onboarding to understand their responsibilities and the company's operations[63]. - The company provided various training types to directors, including regulatory updates and relevant business operations[71][72]. - The board ensures that adequate and timely information is provided to directors to facilitate informed decision-making[80]. - The company encourages female employees to participate in organizational activities and express their opinions in various employee groups[57]. - The board's commitment to gender diversity is reflected in its ongoing efforts to create an equitable work environment for all employees[57]. - The company has established a remuneration committee composed entirely of independent non-executive directors to review the remuneration of all directors annually[86]. - The remuneration committee has the authority to consult the chairman and/or CEO regarding the remuneration of other executive directors and may seek professional advice if necessary[87]. - The company has disclosed the remuneration ranges for senior management in its annual report, ensuring transparency in compensation practices[90]. - The board has provided monthly updates to all directors regarding the company's performance, condition, and prospects, facilitating informed decision-making[95]. - The company has conducted an annual review of its internal control systems, covering all significant monitoring aspects, including financial, operational, and compliance controls[102]. - The internal control system is designed to provide reasonable assurance against material misstatements or losses, ensuring the safeguarding of the company's assets[98]. - The board is responsible for evaluating the nature and extent of risks acceptable to the company in achieving strategic objectives[98]. - The company has committed to maintaining adequate resources and training for its accounting and financial reporting functions[101]. - The remuneration committee's terms of reference have been published on both the stock exchange and the company's website, enhancing accountability[90]. - The company aims to provide a balanced, clear, and comprehensive assessment of its performance and prospects in its annual report[99]. - The company engaged an independent professional firm to assist the board and audit committee in continuously monitoring the group's risk management and internal control systems[106]. - The audit committee held 2 meetings during the year to review financial performance and compliance procedures[111]. - The company has established clear guidelines for the delegation of management and administrative functions to ensure accountability[124]. - The board is responsible for setting the company's strategic development and monitoring management performance[124]. - The audit committee is tasked with ensuring fair and independent investigations of any misconduct issues[122]. - The company has disclosed the responsibilities and contributions of both the board and management appropriately[124]. - The audit committee's scope of work has been revised to cover the responsibilities outlined in the code[116]. - The company has confirmed the effectiveness of its financial reporting and compliance procedures[109]. - The board acknowledges its responsibility for the effectiveness of the risk management and internal control systems[108]. - The company has established procedures for handling and disclosing insider information[108]. - The board has established three committees with specific mandates: Audit Committee, Remuneration Committee, and Nomination Committee[126]. - The board is responsible for corporate governance duties, which include developing and reviewing governance policies and practices[131]. - The company has implemented a shareholder communication policy that is regularly reviewed for effectiveness[143]. - The company has a dividend distribution policy, details of which are disclosed in the annual report[144]. - Shareholders holding at least 10% of the paid-up capital have the right to request a special general meeting within two months of submission[133]. - The company ensures that the chairman of the board and committee chairs attend the annual general meeting to address shareholder questions[141]. - The company has provided sufficient notice to shareholders prior to the annual general meeting, ensuring compliance with regulations[143]. - The board has a clear understanding of their powers and responsibilities, as documented in written terms of reference[129]. - Committees are required to report their work, results, and recommendations to the board[126]. - The company has established procedures for shareholders to propose candidates for directorships at the annual general meeting[137]. Environmental Performance - The company is one of the largest shoe manufacturers in China and has been listed in Hong Kong since 1996, emphasizing environmental protection and corporate governance[165]. - The company’s risk management and internal control systems are deemed effective, with annual reviews conducted by the board[158]. - The company secretary has undergone no less than 15 hours of professional training during the year to ensure compliance with governance practices[156]. - The company will propose a resolution for dividend distribution at the annual general meeting, subject to the board's assessment of financial conditions and reserves[145]. - The company has a nomination committee composed entirely of independent non-executive directors to review the board's structure and composition regularly[161]. - The company is committed to timely public disclosure of any inside information, ensuring that all material facts are presented clearly and fairly[160]. - The company has established a risk mitigation plan for significant risks identified by senior management at least once a year[157]. - The company’s articles of association have not changed for the fiscal year ending December 31, 2024[151]. - The company has not received any complaints regarding its environmental performance or faced any regulatory investigations in 2024[175]. - The main source of emissions for the company is electricity consumption, with a focus on adopting green power in line with China's carbon peak commitments[176]. - The company has implemented a "Waste Gas Emission and Control Guidelines" to monitor factory activities and strictly control waste gas emissions[178]. - The company is actively phasing out traditional industrial adhesives in favor of lower VOC alternatives to reduce emissions[180]. - The company has not been involved in any violations of local waste gas emission laws during the year[180]. - The company is committed to conducting a comprehensive climate risk assessment and implementing climate change adaptation and mitigation plans[177]. - The company has established internal environmental management policies focusing on waste management and energy efficiency[174]. - The company has identified key sources of waste gas emissions, including VOC emissions from various manufacturing processes[179]. - The company collaborates with local governments to reduce production during periods of severe air pollution[180]. - The company aims to create long-term value for investors while addressing key environmental challenges such as climate change[173]. - Total greenhouse gas emissions decreased from 980 tons CO2 equivalent in 2023 to 525 tons in 2024, representing a reduction of approximately 46.2%[195]. - Energy consumption decreased from 5,384 GJ in 2023 to 4,261 GJ in 2024, a reduction of about 21%[195]. - The energy density for 2024 was recorded at 201.75 kWh per $1,000 revenue, down from 366.67 kWh in 2023[191]. - The total hazardous waste generated increased from 0.95 tons in 2023 to 1.82 tons in 2024, an increase of approximately 91.6%[195]. - The total non-hazardous waste generated decreased from 2.46 tons in 2023 to 1.72 tons in 2024, a reduction of about 30%[195]. - Water consumption decreased significantly from 162,396 cubic meters in 2023 to 17,429 cubic meters in 2024, a reduction of approximately 89.3%[195]. - The wastewater generated dropped from 147,695 cubic meters in 2023 to 12,736 cubic meters in 2024, a decrease of about 91.4%[195]. - The company aims to reduce carbon emissions density by 5% annually starting from 2021[184]. - The company has set a target to reduce water consumption density by 5% per unit of production over the next five years[194]. - The company has implemented energy efficiency measures, aiming for a 5% reduction in energy consumption per unit of production over the next five years[191]. - The group's energy consumption and related greenhouse gas emissions are expected to decrease in 2024 compared to 2023, partly due to reduced production activities from decreased sales orders[198]. - The replacement of high-power water heaters in employee dormitories with low-power alternatives is projected to save approximately 3,000 kWh of electricity per month[198]. - The group is committed to monitoring water resource usage and implementing various measures to promote continuous water conservation improvements in 2024[198]. Employee Welfare - All employees receive compensation above the statutory minimum wage, with voluntary overtime capped at three hours per day, compensated at up to three times the normal wage[200]. - The group provides a range of paid leave options, including annual leave, bereavement leave, maternity leave, and sick leave, with management reviewing leave applications based on production schedules[200]. - Maternity allowances are provided to support employees during childbirth and recovery periods, ensuring compliance with relevant social welfare regulations in China[200]. - The group implements a reward and punishment system to recognize outstanding employees and impose disciplinary actions for serious misconduct, promoting a culture of accountability[200].

Financial Performance - Total revenue for the year ended December 31, 2024, was $5,867,000, a decrease of 2.85% compared to $6,039,000 in 2023[3] - Gross profit increased to $3,642,000, up 15.2% from $3,162,000 in the previous year[3] - The company reported a net loss attributable to shareholders of $1,060,000, compared to a profit of $451,000 in 2023[3] - The company reported a pre-tax loss of $1,756,000 for the year, compared to a pre-tax profit of $120,000 in 2023[10] - The group recorded a net loss after tax of $1,060,000 for the year ending December 31, 2024, compared to a net profit of $451,000 in 2023[27] - Basic loss per share was 0.15 cents, compared to earnings of 0.06 cents per share in 2023[3] - Basic loss per share for the year ending December 31, 2024, was 0.15 cents, compared to earnings of 0.06 cents per share in 2023[33] Assets and Liabilities - Non-current assets decreased to $82,415,000 from $86,952,000, reflecting a decline of 5.8%[4] - Current assets decreased to $12,384,000 from $12,064,000, indicating a slight increase of 2.65%[4] - Total liabilities decreased to $16,206,000 from $17,034,000, a reduction of 4.86%[4] - The company's cash and cash equivalents decreased to $8,651,000 from $9,858,000, a decline of 12.2%[4] - The total equity attributable to shareholders decreased to $76,283,000 from $78,780,000, a decline of 3.18%[4] - Trade receivables increased to $3,192,000 in 2024 from $1,718,000 in 2023, representing an increase of about 85.69%[20] - The total amount of trade payables decreased to $1,588,000 in 2024 from $2,137,000 in 2023, a reduction of approximately 25.69%[22] Revenue Breakdown - Revenue from the production and sale of footwear products was $1,499,000, down 11.16% from $1,687,000 in the previous year[7] - Rental income from leased properties was $4,368,000, slightly up from $4,352,000 in 2023, indicating a growth of 0.37%[7] - Revenue from the United States increased to $704,000 in 2024 from $675,000 in 2023, representing a growth of 4.30%[11] - Revenue from Morocco surged to $457,000 in 2024, a significant increase from $86,000 in 2023[11] - Major customers contributed significantly to total revenue, with Customer A generating $1,499,000 in 2024, down from $1,687,000 in 2023[12] Cost Management - Total employee costs decreased to $2,024,000 in 2024 from $2,299,000 in 2023, reflecting a reduction of approximately 11.97%[1] - The group has implemented strict cost control measures and efficiency policies to mitigate financial impacts[33] Market and Economic Conditions - The group anticipates continued economic uncertainty and potential impacts on export order volumes due to escalating tariff policies and trade restrictions[30] - North America remains the largest export market, accounting for 47.0% of the group's footwear sales, while Europe and other regions contributed 39.3% and 13.7%, respectively[28] Corporate Governance and Compliance - The company has complied with all corporate governance code provisions as of December 31, 2024[40] - The audit committee reviewed the accounting principles and practices adopted by the group, including the audited consolidated financial statements for the year ending December 31, 2024[42] Future Outlook - The company plans to maintain a final dividend of HK$0.01 per share for the year ending December 31, 2024, consistent with the previous year[18] - The group will maintain a conservative policy with a low debt ratio in resource allocation[34] - The group has established stable cash flow from leasing idle properties domestically, contributing to overall financial stability[29] Miscellaneous - The company applied revised Hong Kong Financial Reporting Standards for the first time in 2024, which did not have a significant impact on financial performance[6] - There were no purchases, sales, or redemptions of the company's shares during the fiscal year ending December 31, 2024[39] - The annual performance announcement and annual report will be published on the Hong Kong Stock Exchange and the company's website[43]

Financial Performance - The company reported a profit attributable to owners of $165,000 for the six months ended June 30, 2024, compared to $297,000 for the same period in 2023, representing a decrease of 44.4%[2] - Total revenue for the six months was $3,232,000, an increase of 4.8% from $3,085,000 in the previous year[3] - Gross profit increased to $1,968,000, up 3.9% from $1,895,000 year-on-year[3] - The company recorded a pre-tax profit of $152,000, down 19.6% from $189,000 in the prior period[3] - Other comprehensive income for the period was $707,000, compared to $205,000 in the previous year, indicating a significant increase of 244.9%[3] - Basic earnings per share for the six months ended June 30, 2024, were $0.000226, down from $0.000406 for the same period in 2023[25] - Basic earnings per share for the six months ended June 30, 2024, were $0.02, compared to $0.04 for the same period in 2023[36] Revenue Breakdown - Revenue from the production and sale of footwear products reached $1,033,000 for the six months ended June 30, 2024, compared to $784,000 for the same period in 2023, representing a growth of 32%[15] - Total revenue for the company was $3,232,000 for the six months ended June 30, 2024, an increase of 4.8% from $3,085,000 in the same period of 2023[15] - Rental income from 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, a decrease of 4.4%[15] Cash Flow and Assets - The net cash generated from operating activities was $498,000, a decrease of 73.8% from $1,899,000 in the same period last year[8] - The company’s total assets as of June 30, 2024, were $95,759,000, slightly down from $95,814,000 at the end of 2023[4] - The company’s cash and cash equivalents at the end of the period were $9,496,000, down from $10,535,000 at the end of the previous period[8] - Trade receivables decreased to $356,000 as of June 30, 2024, from $702,000 as of December 31, 2023, representing a decline of 49.3%[29] - Other receivables increased to $2,385,000 as of June 30, 2024, from $1,016,000 as of December 31, 2023, an increase of 134.5%[28] - Total trade and other payables increased to $2,703,000 as of June 30, 2024, from $2,137,000 as of December 31, 2023, an increase of 26.5%[30] Equity and Dividends - The company declared no dividends during the period, compared to dividends paid of $942,000 in the previous year[6] - The company’s total equity as of June 30, 2024, was $78,710,000, a slight decrease from $78,780,000 at the end of 2023[4] - The company declared a final dividend of $942,000 for the year ended December 31, 2023, compared to no dividend declared for the same period in 2023[24] Operational Insights - Employee costs totaled $1,401,000 for the six months ended June 30, 2024, up from $1,142,000 in the same period of 2023, an increase of 22.6%[21] - The company incurred interest expenses on lease liabilities of $18,000 for the six months ended June 30, 2024, down from $21,000 in the same period of 2023, a decrease of 14.3%[19] - The company invested approximately $29,000 in property, plant, and equipment for the six months ended June 30, 2024, compared to $34,000 in the same period of 2023[27] - The company did not recognize any valuation changes for its investment properties during the reporting period, as the carrying value was deemed to be in line with fair value assessments[26] Strategic Outlook - The company plans to adjust its operational strategies in response to the uncertain global political landscape and economic conditions[38] - The company will be cautious in seeking new tenants for its idle factory rental business, focusing on the financial capabilities of potential tenants[38] - The company aims to maintain financial stability while navigating the challenges posed by a potentially declining global economy[37] Governance and Compliance - The company has complied with the corporate governance code as stipulated in the listing rules during the reporting period[48] - The audit committee reviewed the group's unaudited consolidated financial information for the six months ended June 30, 2024, discussing risk management and internal control matters[50] Shareholding Structure - As of June 30, 2024, the directors and their associates held a total of 9 million shares, representing 1.23% of the issued share capital[41] - Pegasus Footgear Management Limited, the holding company, owns 468,743,940 shares, accounting for 64% of the issued share capital[44] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the six months ended June 30, 2024[47]

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].