Financial Performance - The company recorded a loss attributable to shareholders of approximately HKD 14,100,000 for the year ended December 31, 2024, compared to a profit of HKD 304,179,000 for the previous year, marking a significant decline [6]. - Basic loss per share for the review period was HKD 0.04, down from a basic earnings per share of HKD 0.77 in the previous year [7]. - Revenue from contracts with customers was approximately HKD 375,960,000, a decrease of 4.4% compared to the previous year, primarily due to stagnation in global automotive production and a rebound in demand for high-end communication equipment [8]. - Interest income from debt instrument investments was approximately HKD 17,961,000, down from HKD 25,175,000 in the previous year [10]. - The net reversal of expected credit losses was approximately HKD 1,683,000, significantly lower than the previous period's reversal of HKD 384,788,000 [33]. - The fair value loss on investment properties was approximately HKD 78,054,000, compared to HKD 28,459,000 in the previous period [34]. - The company reported a 2.1% depreciation of the Renminbi during the review period, negatively impacting its financials [93]. Revenue and Income Sources - Rental income generated from properties held by the group was approximately HKD 13,174,000, a significant increase from HKD 1,177,000 in the previous year, following the acquisition of legal ownership of several investment properties in Hong Kong and China [9]. - Dividend income from investments in Hong Kong listed securities was approximately HKD 12,017,000, slightly up from HKD 11,608,000 in the previous year [11]. - The total interest income from loans granted by the group during the review period was approximately HKD 1,592,000, compared to HKD 790,000 in the previous period, representing an increase of 101% [44]. - The geographical revenue composition for the review period included China at 28.7%, South Korea at 18.4%, the UK at 12.9%, and the US at 12.0% [8]. Investment and Asset Management - The fair value of investment properties held as of December 31, 2024, was approximately HKD 689,387,000, down from HKD 779,718,000 as of December 31, 2023 [40]. - The total investment cost of debt instruments held by the group was HKD 419,622,000, down from HKD 626,829,000 in the previous year, reflecting a decrease of 33% [48]. - The net carrying amount of investments after impairment losses was HKD 415,442,000, compared to HKD 642,902,000 in 2023, indicating a decline of 35.4% [48]. - The company maintains a diversified investment portfolio, focusing on stable dividend-paying companies and low-risk bonds [72]. Corporate Governance and Compliance - The company is committed to compliance with the new Hong Kong Companies Ordinance (Chapter 622) regarding business reviews and disclosures [115][117]. - The board consists of six members, including three executive directors and three independent non-executive directors, with one female director as of December 31, 2024 [180]. - The independent non-executive directors account for at least one-third of the board, ensuring compliance with listing rules [183]. - The company has established four committees: audit committee, nomination committee, remuneration committee, and investment committee to enhance management efficiency [190]. Market and Economic Conditions - The company faces economic climate and individual market performance risks, particularly in Taiwan, the United States, and Europe [118]. - The sales performance is significantly influenced by local economic conditions, which can affect consumer confidence and overall sales [118]. - The overall commercial real estate investment landscape in mainland China and Hong Kong is expected to remain challenging in 2025 [69]. Shareholder Information - The board proposed a final dividend of HKD 0.02 per share for the review period, consistent with the previous year [101]. - The company's reserves available for distribution to shareholders as of December 31, 2024, are approximately HKD 411,136,000, which includes retained earnings of about HKD 374,698,000 [132]. - Major shareholders include 佳帆 with 201,995,834 shares (52.79%) and Medusa with 48,520,666 shares (12.68%) as of December 31, 2024 [152]. Risk Management - The company has established individual credit limits for customers to mitigate credit risk, reviewing financial conditions and credit histories regularly [119]. - The company aims to diversify its investment portfolio to reduce equity price risk associated with market volatility [124]. - The company is considering credit ratings of issuers to minimize risks related to bonds and certificates of deposit [125].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 419,112,000, a decrease of 2.7% from HKD 431,288,000 in 2023[2] - The company reported a loss before tax of HKD 12,221,000 compared to a profit of HKD 415,128,000 in the previous year[2] - The net loss for the year was HKD 13,655,000, a significant decline from a profit of HKD 304,102,000 in 2023[2] - Total comprehensive loss for the year amounted to HKD 33,173,000, compared to a comprehensive income of HKD 296,607,000 in the previous year[3] - Basic loss per share was HKD 0.04 compared to earnings per share of HKD 0.77 in the previous year[3] - The company recorded a loss attributable to owners of approximately HKD 14,100,000 for the year ended December 31, 2024, compared to a profit of HKD 304,179,000 for the year ended December 31, 2023, indicating a significant decline in profitability[26] Revenue Breakdown - Rental income increased significantly to HKD 13,174,000 from HKD 1,177,000, marking an increase of 1,020%[2] - Revenue from electroplating equipment was HK$375,960,000, while property investment revenue increased significantly to HK$13,174,000 from HK$1,177,000 in 2023[12] - Revenue from contracts with customers was approximately HKD 375,960,000, a decrease of 4.4% compared to the previous year, primarily due to stagnation in global automotive production and a rebound in demand for high-end communication equipment[28] Asset and Equity Changes - Non-current assets decreased to HKD 1,090,836,000 from HKD 1,273,979,000, a reduction of 14.3%[4] - Current assets increased to HKD 916,897,000 from HKD 862,034,000, an increase of 6.4%[4] - Total equity attributable to owners decreased to HKD 1,412,690,000 from HKD 1,469,072,000, a decline of 3.8%[5] Financial Costs and Income - Interest income decreased to HKD 17,961,000 from HKD 25,175,000, a decline of 28.5%[2] - The company incurred a total financial cost of HK$1,470,000, down from HK$3,923,000 in 2023, primarily due to reduced interest on lease liabilities[14] - The company’s interest income from debt instrument investments was approximately HKD 17,961,000, down from HKD 25,175,000 in the previous year, indicating a decline in investment returns[30] Impairment and Losses - The impairment loss on property, plant, and equipment was HK$6,222,000, with no such loss reported in 2023[13] - The group's investment properties experienced a fair value loss of approximately HKD 78,054,000 for the year ended December 31, 2024, compared to a loss of HKD 28,459,000 in the previous year[48] - The expected credit loss under the impairment model for receivables was approximately HKD 9,866,000 for the year ended December 31, 2024, compared to HKD 9,608,000 for the previous year, reflecting a slight increase in credit risk[22] Cash Flow and Debt Management - The group had cash on hand of approximately HKD 344,596,000 as of December 31, 2024, significantly up from HKD 138,133,000 as of December 31, 2023[96] - The group utilized approximately HKD 6,328,000 in bank borrowings as of December 31, 2024, compared to none as of December 31, 2023[97] - The debt ratio increased to 2.6% as of December 31, 2024, compared to 2.2% as of December 31, 2023, calculated based on total bank borrowings and other interest-bearing loans divided by equity attributable to the owners[96] Investment and Market Outlook - The company anticipates that 2025 will be a challenging year for its plating equipment business due to slow economic recovery and high interest rates[74] - The commercial real estate market in Hong Kong is expected to face challenges, with an estimated office vacancy rate increase of 1.9 percentage points to 18.9% in 2024 and potential rental declines of up to 10%[76] - The group aims to maintain a diversified investment portfolio to provide stable returns while managing capital prudently[93] Corporate Governance and Meetings - The audit committee held two meetings in 2024 to review the group's financial performance for the year ending December 31, 2023, and the interim results for the six months ending June 30, 2024[112] - The company has complied with most of the corporate governance code provisions as of the announcement date[107] - The company has established a nomination committee to review the board's structure and identify suitable candidates for directorship[114] Dividends and Shareholder Information - Proposed final dividend of HKD 0.02 per share for the review period, same as 2023, subject to shareholder approval[105] - The final dividend payment is expected to be made on July 24, 2025, to shareholders listed on July 7, 2025[105] - The annual general meeting is scheduled for June 26, 2025[120]

Financial Performance - For the six months ended June 30, 2024, the company recorded a profit attributable to owners of approximately HKD 29,060,000, a significant decrease from HKD 110,007,000 for the same period in 2023, representing a decline of about 73.6%[7] - Basic earnings per share for the review period were HKD 0.0758, down from HKD 0.2792 in the previous year, indicating a decrease of approximately 72.9%[7] - Total revenue for the six months ended June 30, 2024, was HKD 220,573,000, a slight decrease of 0.32% from HKD 221,279,000 in the same period of 2023[103] - The company reported a pre-tax profit of HKD 26,944,000, down 81.64% from HKD 146,400,000 in the previous year[103] - Net profit for the period was HKD 29,043,000, a decrease of 73.60% compared to HKD 109,976,000 in the same period last year[104] - Total comprehensive income for the period was HKD 22,404,000, down 75.12% from HKD 89,925,000 in the previous year[104] Revenue Breakdown - Revenue from contracts with customers for the review period was approximately HKD 198,726,000, a decrease of 0.7% compared to the previous year[8] - The revenue composition showed that 78.0% came from printed circuit board business and 22.0% from surface treatment business, with geographical revenue distribution being 33.9% from China, 26.8% from South Korea, and 18.0% from the USA[8] - Revenue from the printed circuit board business increased by 65.6% from HKD 76,880,000 to HKD 127,300,000, with 31.7% of sales to China and 41.6% to South Korea[50] - The surface treatment business revenue decreased by 59.7% from approximately HKD 89,279,000 to about HKD 35,996,000, with 23.1% of sales to the UK and 31.4% to Mexico[54] Investment Income - Rental income generated from properties held by the group was approximately HKD 5,118,000, a significant increase from HKD 115,000 in the previous year[9] - Interest income from bank deposits was approximately HKD 1,604,000, down from HKD 2,205,000 in the previous year, while interest income from debt instruments was approximately HKD 8,954,000, down from HKD 12,713,000[10] - Dividend income from investments in Hong Kong listed securities was approximately HKD 6,171,000, slightly down from HKD 6,177,000 in the previous year[11] - The net fair value gain on investments measured at fair value through profit or loss was approximately HKD 21,563,000, compared to HKD 14,227,000 in the previous year, indicating an increase of about 51.8%[12] Expenses and Costs - Sales and distribution costs increased by 6.0% due to heightened sales activities during the review period[27] - Administrative expenses decreased by 4.0%, reflecting ongoing efforts to control operational costs[28] - Financial costs included interest on bank borrowings of HKD 614,000, up from HKD 567,000 in the previous period[31] - The group incurred a tax expense of HKD 302,000 for the six months ended June 30, 2024, compared to HKD 6,276,000 for the same period in 2023[129] Assets and Liabilities - Non-current assets totaled HKD 1,142,134,000, down from HKD 1,273,979,000 as of December 31, 2023[107] - Current assets increased to HKD 978,146,000 from HKD 862,034,000, representing a growth of 13.52%[108] - Current liabilities decreased to HKD 408,066,000 from HKD 431,956,000, indicating a reduction of 5.53%[110] - The total amount of trade receivables aged 0-60 days increased to HKD 59,901,000 as of June 30, 2024, compared to HKD 48,513,000 as of December 31, 2023[144] Cash Flow - For the six months ended June 30, 2024, the net cash used in operating activities was HKD 37,869,000, compared to HKD 5,157,000 in the same period of 2023[114] - The net increase in cash and cash equivalents for the period was HKD 155,162,000, compared to a decrease of HKD 74,504,000 in the same period last year[117] - The cash and cash equivalents at the end of the period increased to HKD 291,959,000 from HKD 164,371,000 year-over-year[115] Corporate Governance - The company complied with the corporate governance code, with minor deviations noted regarding the roles of the chairman and CEO[85] - The company’s board of directors includes three independent non-executive directors, ensuring a majority presence for shareholder interests[87] - The remuneration committee is responsible for establishing executive director compensation policies and evaluating their performance[90] - The investment committee reviews and monitors any investment projects or financial activities, with a two-tier approval structure for significant transactions[92] Shareholder Information - Major shareholders included Medusa with 12.68%, Jiafan with 52.79%, and J & A with 5.07% of the issued share capital[79] - The company declared an interim dividend of HKD 0.01 per share for the six months ended June 30, 2024, consistent with the previous year[67] - The group declared a final dividend of HKD 0.02 per share, totaling HKD 7,653,000, and an interim dividend of HKD 0.01 per share, totaling HKD 3,826,000 for the six months ended June 30, 2024[134] Market Trends - The global smartphone shipment increased by 9% year-on-year to approximately 292.2 million units in Q2 2024[52] - The global printed circuit board market is expected to reach approximately USD 79.37 billion in 2024, driven by demand from consumer electronics, automotive electronics, and IoT devices[53] - The automotive market in Europe, the US, and India showed resilience with sales increases of 4.4%, 2.1%, and 7.3% respectively in the first half of 2024[55] - The automotive sales in China showed a decline of nearly 8% in June 2024, indicating a less optimistic outlook for the market[55]

Revenue and Profitability - Revenue for the six months ended June 30, 2024, was HKD 198,726,000, a decrease of 0.17% compared to HKD 200,069,000 for the same period in 2023[1] - The company reported a profit before tax of HKD 26,944,000, compared to a loss of HKD 36,424,000 in the previous year, showing a turnaround in performance[1] - Total comprehensive income for the period was HKD 22,404,000, down from HKD 89,925,000 in the prior year, reflecting a decrease of approximately 75%[2] - The profit before tax for the group was HKD 26,944,000 for the six months ended June 30, 2024, compared to a profit of HKD 146,400,000 for the same period in 2023, indicating a significant decline[10] - The company reported a profit attributable to owners of approximately HKD 29,060,000 for the period ending June 30, 2024, a significant decrease from HKD 110,007,000 for the same period last year, representing a decline of about 73.6%[22] Earnings Per Share - Basic earnings per share decreased to HKD 7.58 from HKD 27.92, representing a decline of about 72.9%[2] - The basic earnings per share for the six months ended June 30, 2024, was HKD 0.076, down from HKD 0.279 for the same period in 2023[16] - Basic earnings per share for the review period were HKD 0.0758, down from HKD 0.2792 in the previous year, indicating a decrease of approximately 72.9%[22] Assets and Liabilities - Non-current assets totaled HKD 1,142,134,000, down from HKD 1,273,979,000, indicating a reduction of approximately 10.3%[3] - Current assets increased to HKD 978,146,000 from HKD 862,034,000, marking an increase of about 13.5%[3] - Total liabilities decreased to HKD 618,519,000 from HKD 635,078,000, reflecting a reduction of approximately 2.6%[4] - The company's equity attributable to owners increased slightly to HKD 1,472,506,000 from HKD 1,469,072,000, showing a marginal growth[4] Revenue Breakdown - Revenue from contracts with customers for the six months ended June 30, 2024, was HKD 198,726,000, compared to HKD 200,069,000 for the same period in 2023, representing a decrease of 0.67%[8] - The segment revenue from electroplating equipment was HKD 198,726,000, while property investment and fund management contributed HKD 5,118,000 and HKD 16,729,000, respectively, totaling HKD 220,573,000[9] - Revenue from the printed circuit board business increased from HKD 76,880,000 to HKD 127,300,000, representing a growth of 65.6% year-over-year[47] Expenses and Costs - Sales and distribution costs increased by 6.0% due to heightened sales activities during the review period[28] - Administrative expenses decreased by 4.0% as the company continued efforts to control operating costs[29] - Financial costs included bank loan interest of HKD 614,000, up from HKD 567,000 in the previous period, and lease liabilities interest of approximately HKD 112,000, down from HKD 145,000[31] Investment and Financial Activities - The company has established an investment committee to enhance internal organization based on business nature, focusing on electroplating equipment, property investment, and fund management[9] - The investment strategy focuses on a balanced approach to explore favorable short-term and long-term investments, aiming for a diversified portfolio[40] - The group plans to report its business activities in three segments starting in 2024: electroplating equipment, property investment, and fund management[46] Foreign Exchange and Credit Loss - The company experienced a net loss from foreign exchange of HKD 21,563,000 for the six months ended June 30, 2024[14] - The expected credit loss model recognized a loss of HKD 1,394,000 during the period, contrasting with a reversal of HKD 113,173,000 for the same period in 2023[17] - Expected credit loss provisions for trade receivables were HKD 4,018,000, while provisions for deferred consideration were HKD 1,394,000, indicating a significant change in credit risk assessment[30] Dividends and Share Repurchase - The company declared a final dividend of HKD 0.02 per share, totaling HKD 7,653,000, for the year ended December 31, 2023[15] - The interim dividend declared for the six months ended June 30, 2024, is HKD 0.01 per share, consistent with the previous year[61] - The company repurchased a total of 11,320,000 ordinary shares from the open market at an average price of HKD 0.995 per share, which were subsequently cancelled on August 16, 2024[76] Market and Economic Conditions - Global smartphone shipments are projected to increase by 9% year-over-year in Q2 2024, reaching approximately 292.2 million units[48] - The global printed circuit board market is expected to reach approximately USD 79.37 billion by 2024, driven by demand from consumer electronics, automotive electronics, and IoT devices[49] - The average rent in Hong Kong is expected to decline further in the second half of 2024 due to high vacancy rates[55] Corporate Governance - The audit committee reviewed the financial statements for the six months ending June 30, 2024, in accordance with the relevant accounting principles and practices[71] - The company’s remuneration committee is responsible for establishing the executive director remuneration policy and evaluating their performance[72] - The investment committee is tasked with reviewing and monitoring any investment projects or financial activities, with a two-tier approval structure for significant transactions[74] - All directors confirmed compliance with the standard code of conduct for securities trading during the six-month period ending June 30, 2024[75]

Financial Performance - The revenue for the year ended December 31, 2023, was approximately HKD 393,328,000, representing a 23.0% increase compared to the previous year[5]. - The profit attributable to the company's owners was approximately HKD 304,179,000, a significant increase from a loss of HKD 32,727,000 in the previous year[8]. - The gross profit margin improved to 19.2%, up from approximately 9.3% in the previous year due to cost control measures[22]. - Basic earnings per share for the year were HKD 0.77, compared to a basic loss per share of HKD 0.08 in the previous year[20]. - Other income amounted to approximately HKD 93,919,000[39]. - The estimated tax expense related to deferred consideration was approximately HKD 109,458,000, significantly higher than HKD 27,661,000 in the previous year[53]. - The net reversal of impairment losses for deferred consideration was approximately HKD 395,911,000, compared to HKD 58,900,000 in the previous year[47]. - The company recorded a decrease in interest income from bank deposits to approximately HKD 2,635,000 from HKD 11,333,000 in the previous year[41]. - The company reported a significant increase in contract assets, with a net amount of (HKD 5,233,000) compared to HKD 209,000 in the previous year[35]. - The total equity of the company increased to HKD 1,469,033,000 in 2023, up from HKD 1,184,245,000 in 2022, representing a growth of approximately 24.2%[71]. - The company's non-current liabilities decreased from HKD 102,127,000 in 2022 to HKD 31,902,000 in 2023, a reduction of about 68.7%[71]. - The company has cash on hand of approximately HKD 138.1 million as of December 31, 2023, down from HKD 515.6 million as of December 31, 2022[145]. - The company reported a total reserve available for distribution to shareholders of approximately HKD 53,197,000, which includes retained earnings of about HKD 46,879,000 and other reserves of approximately HKD 6,318,000[194]. Revenue Composition - Revenue from the printed circuit board business accounted for approximately 61.9% of total revenue, while surface treatment business contributed about 38.1%[9]. - Revenue composition by region showed that China accounted for 42.3%, South Korea 14.4%, and Mexico 13.6%[21]. - Revenue from the surface treatment business increased by 123.3% to approximately 121,676,000, with 42.7% of sales directed to China[112]. - Approximately 43.5% of the surface treatment business revenue was generated from sales to Mexico[112]. Investment Activities - The fair value change of investment properties was approximately HKD 28,459,000, compared to none in the previous year[14]. - The company has acquired several retail stores and offices in Longhua, China, and various office units and parking spaces in Hong Kong, classified as investment properties[26]. - The company has entered into a loan financing agreement for a revolving loan of HKD 80 million, effective until October 20, 2025[133]. - The company plans to lease properties to generate stable income, with no immediate cash outflow due to the acquisition being settled through interest-free promissory notes[78]. - The company has pledged several investment properties to a licensed bank in Hong Kong to obtain mortgage loans as of December 31, 2023[148]. - The fair value of investments in listed equity securities was HKD 175,700,000 as of December 31, 2023, with a significant increase in dividend income received amounting to HKD 8,352,000[81][91]. Expenses and Costs - Administrative expenses for the review period were approximately HKD 78,713,000, a decrease of 8.4% compared to HKD 85,795,000 in the previous year[33]. - Sales and distribution costs were approximately HKD 12,597,000, an increase of 27.9% compared to the previous year due to increased sales activities post-pandemic[44]. - The total financial costs were approximately HKD 3,923,000, with a notable decrease in the provision for performance-related rewards[51]. - The company recognized impairment losses of approximately HKD 5,421,000 for property, plant, and equipment, and HKD 7,561,000 for right-of-use assets related to its factory in China[35]. Market Trends and Outlook - The overall decline in the printed circuit board industry in 2023 was attributed to reduced demand for smartphones and other electronic products, reflecting broader market trends[98]. - Global smartphone shipments in Q4 2023 increased by 8.5% year-on-year, totaling approximately 326.1 million units, although annual shipments saw a decline of 3.2%[108][109]. - The fastest-growing market in 2023 was Mexico, with light vehicle sales increasing by 25% to 1,360,100 units[115]. - The company expects a slight rebound in the global smartphone market in 2024, driven by rising demand in emerging markets and new technology developments[111]. - The automotive sales in 2023 reached 75.3 million units, reflecting an 11.9% growth compared to the previous year[113]. Corporate Governance and Community Engagement - The company’s board of directors includes experienced professionals with extensive backgrounds in finance and management, contributing to strategic planning and operations[180][183][184]. - The company has been actively involved in community initiatives, including the establishment of the Hong Kong Charity Foundation to support youth education and development[179]. Risks and Liabilities - The company is subject to foreign currency risk, as its assets and liabilities are primarily settled in USD and HKD[191]. - The company has a liquidity risk related to its ability to meet its obligations as they come due[191]. - The company has a contingent liability related to the properties, with a total secured liability of approximately RMB 1.55 billion, excluding accrued interest and penalties[134]. - The company provided guarantees of approximately HKD 1,034,100,000 for bank credit facilities granted to its subsidiaries as of December 31, 2023, up from HKD 345,000,000 as of December 31, 2022[172]. Employee and Operational Metrics - The group employed a total of 327 employees as of December 31, 2023, down from 431 employees as of December 31, 2022[155]. - The group has no significant capital commitments as of December 31, 2023[154]. - The company has not granted any share options during the review period, similar to the previous year[174]. - The top five customers accounted for approximately 47.2% of the total revenue, with the largest customer representing about 13.4%[195]. - The company has a significant reliance on its top suppliers, with the total purchases from the five largest suppliers making up less than 29.8% of total purchases[195]. - The company operates in key markets including Taiwan, the United States, and Europe, and is exposed to economic conditions in these regions which could impact sales and performance[188]. - The company has not experienced any major changes in the nature of its business during the reporting year[192].

Financial Performance - The total revenue for the group in 2023 reached HKD 62,197,300, reflecting a 12.1% increase compared to HKD 55,502,300 in 2022[53]. - For the fiscal year ending December 31, 2023, the company reported total revenue of HKD 393,328,000, an increase from HKD 319,673,000 in 2022, representing a growth of approximately 23%[104]. - The gross profit for the year was HKD 75,494,000, significantly up from HKD 29,663,000 in the previous year, indicating a gross margin improvement[104]. - The company achieved a net profit of HKD 304,102,000 for the year, compared to a net loss of HKD 32,816,000 in 2022, marking a substantial turnaround[104]. - Total comprehensive income for the year was HKD 296,607,000, compared to a loss of HKD 88,142,000 in the prior year, reflecting a positive shift in overall financial performance[100]. - The company reported a basic earnings per share of HKD 0.77, a significant improvement from a loss per share of HKD 0.08 in the previous year[100]. - The company recorded a profit attributable to shareholders of approximately HKD 304,179,000 for the year ended December 31, 2023, a significant increase compared to a loss of HKD 32,727,000 for the year ended December 31, 2022[146]. - The profit before tax for 2023 was HKD 415,128,000, compared to a loss of HKD 4,195,000 in 2022[113]. - The company reported a segment profit of HKD 12,489,000 in 2023, recovering from a loss of HKD 51,667,000 in 2022[113]. Assets and Liabilities - The company's total assets increased to HKD 1,500,935,000, up from HKD 1,286,372,000 in 2022, indicating strong asset growth[101]. - The group’s accounts payable and accrued expenses amounted to HKD 188,185,000, a decrease of approximately HKD 21,060,000 from the previous period[16]. - The group has provided guarantees of approximately HKD 1,034,100,000 for its subsidiaries' bank credit, significantly up from HKD 345,000,000 as of December 31, 2022[43]. - The total outstanding deferred consideration as of December 31, 2023, was RMB 1,550,000,000, equivalent to approximately HKD 31 billion, to be paid in six installments[140]. Expenses - Administrative expenses for the period were approximately HKD 94,794,000, a decrease from HKD 85,795,000 in the previous period, primarily due to cost control efforts and layoffs[2][3]. - The company recorded a decrease in administrative expenses to HKD 94,794,000 from HKD 108,185,000, indicating improved cost management[104]. - Sales and distribution costs increased by 27.9% compared to the previous period, primarily due to increased sales activities during the post-pandemic recovery[185]. - Interest expenses related to performance-related incentive provisions were approximately HKD 1,918,000, down from HKD 4,328,000 in the previous period[189]. Investments - The fair value of the group's investment in China Mobile amounted to HKD 175,700,000, with an unrealized fair value gain of approximately HKD 26,100,000 during the year[13][14]. - The group holds 2,000,000 shares in China Mobile, representing about 0.01% of its issued shares, contributing to stable income[14]. - The fair value of investment properties as of December 31, 2023, is HKD 779.7 million, classified as investment properties[62]. - The company acquired several retail stores and offices in Longhua, China, and various office units and parking lots in Hong Kong as part of its investment properties[178]. - The company recognized a net fair value gain of approximately HKD 28,459,000 on investment properties, with no such gain reported in the previous year[150]. Market and Growth - The fastest-growing market in 2023 was Mexico, with light vehicle sales increasing by 25% to 1.36 million units[22]. - The group has completed multiple projects in Mexico during the review period, indicating market expansion efforts[22]. - Revenue composition by region showed that China accounted for 42.3% (down from 74.6% last year), South Korea 14.4% (up from 4.3%), and Mexico 13.6% (up from 5.0%) among others[148]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[104]. Financing - As of December 31, 2023, the group had drawn loans of approximately HKD 37,000,000, with an average effective interest rate of 5.77%, up from 5.14% in the previous period[9]. - The group has available bank credit of approximately HKD 102,300,000 for the electroplating equipment division, unchanged from December 31, 2022, with no financing drawn down[40]. - The group has utilized approximately HKD 31,628,000 of bank financing for investment properties, compared to none as of December 31, 2022[41]. - The group provided unsecured revolving loan financing of HKD 80,000,000 under the 2022 loan financing agreement, with interest based on the Hong Kong Shanghai Banking Corporation's published best lending rate[192]. Governance and Compliance - The company has adopted the corporate governance code and confirmed compliance with the standards set forth during the fiscal year ending December 31, 2023[80]. - The audit committee has reviewed the financial statements for the fiscal year ending December 31, 2022, and the interim results for the six months ending June 30, 2023[74]. - The upcoming annual general meeting is scheduled for June 24, 2024, with announcements to be made in accordance with listing rules[75]. - The company has received independent shareholder approval for the 2022 loan financing agreement, which constitutes a continuing connected transaction under the listing rules[66]. Other Income and Losses - The company recognized other income of HKD 92,333,000 in 2023, up from HKD 87,574,000 in 2022[113]. - Other income amounted to approximately HKD 93,919,000, primarily from interest and fees generated from receivables[154]. - The group incurred tax expenses of approximately HKD 111,026,000[190]. - The expected credit loss model recognized a net impairment loss of approximately HKD 9,608,000 as of December 31, 2023, compared to HKD 5,433,000 in 2022[142].

Financial Performance - The company recorded a profit attributable to owners of approximately HKD 110,007,000 for the period ending June 30, 2023, a significant increase from HKD 12,913,000 for the same period last year, representing a growth of 751.5%[6] - Basic earnings per share for the review period were HKD 0.2792, compared to HKD 0.0303 for the previous year, marking an increase of 821.1%[7] - Revenue for the period was approximately HKD 200,069,000, reflecting a year-on-year increase of 19.9%[9] - The gross profit margin improved from 4.9% in the previous year to 19.1% in the current period, indicating effective cost control measures[10] - The company reported a net fair value gain of approximately HKD 14,227,000 from investments, compared to HKD 9,894,000 in the previous year, an increase of 43.5%[12] - The net income related to the Longhua project was HKD 105,798,000, compared to HKD 48,837,000 in the previous period, indicating an increase of approximately 116.5%[36] - Profit before tax surged to HKD 146,400,000, compared to HKD 30,835,000 in the previous year, marking an increase of 373.5%[116] - Net profit for the period was HKD 109,976,000, a substantial rise from HKD 12,908,000, representing an increase of 752.5%[116] - Total comprehensive income for the period was HKD 89,925,000, compared to a loss of HKD 12,829,000 in the previous year[118] Revenue Composition - Revenue composition showed that 46.3% came from printed circuit board business and 53.7% from surface treatment business, a shift from 85.0% and 15.0% respectively in the previous year[9] - The geographical revenue distribution indicated that China accounted for 52.2%, followed by Korea at 12.2% and Mexico at 10.3%[9] - The revenue from the electroplating equipment business for printed circuit boards decreased by 32.1% from HKD 113,274,000 to HKD 76,880,000, with 41.8% of sales to China and 27.1% to South Korea[55] - The surface treatment business revenue surged by 347.2% from approximately HKD 19,963,000 to HKD 89,279,000, with 58.3% of sales to China and 22.9% to Mexico[58] - The geographical revenue analysis showed that revenue from Mainland China (excluding Hong Kong) was HKD 104,476,000, down from HKD 139,296,000 in 2022, a decrease of 25.0%[134] Cost and Expenses - Sales and distribution costs rose by 29.7% compared to the previous period, primarily due to increased sales activities during the post-pandemic recovery[29] - Administrative expenses decreased by 10.6% compared to the previous period, attributed to layoffs and ongoing efforts to control operational costs[30] - Tax expenses amounted to approximately HKD 36,424,000, up from HKD 17,927,000 in the previous period, reflecting an increase of about 102.8%[34] - The deferred tax expense for the six months ended June 30, 2023, was HKD 24,505,000, compared to HKD 14,199,000 in 2022, representing an increase of 72.6%[141] Investment and Financial Position - As of June 30, 2023, the total investment cost of the group is HKD 683,000,000, with approximately HKD 305,000,000 classified as non-current assets and HKD 378,000,000 as current assets[45] - The group holds 21 listed equity securities in Hong Kong with a fair value of HKD 186,000,000 as of June 30, 2023[46] - The investment in China Mobile Limited amounts to HKD 102,739,000, with a fair value of HKD 128,100,000, representing 7.49% of the group's total assets[47] - The group has recorded deferred tax liabilities of HKD 114,384,000, primarily related to expected tax expenses from arrangements in Longhua[53] - The company has provided guarantees amounting to approximately HKD 1,602,100,000 for bank credit facilities as of June 30, 2023, compared to HKD 345,000,000 as of December 31, 2022[79] - The company had cash on hand of approximately HKD 164,371,000 as of June 30, 2023, down from HKD 515,554,000 as of December 31, 2022[74] - The available bank credit for financial and investment purposes increased to HKD 1,499,800,000 as of June 30, 2023, from HKD 218,000,000 as of December 31, 2022[75] - The company incurred a net cash outflow from investing activities of HKD 66,839,000 for the six months ended June 30, 2023, compared to HKD 162,358,000 for the same period in 2022, indicating improved cash management[126] Shareholder Information - As of June 30, 2023, Mr. Lan Guoqing holds a total of 273,391,167 shares, representing 69.40% of the company's issued share capital[88] - Major shareholders include Medusa with 48,520,666 shares (12.32%), Jiafan with 201,995,834 shares (51.27%), and J & A with 19,400,000 shares (4.92%)[91] - The interim dividend declared is HKD 0.01 per share for the six months ended June 30, 2023, consistent with the previous year[83] - The company declared a final dividend of HKD 0.02 per share for the year ended December 31, 2022, totaling HKD 7,879,000, which is a decrease from HKD 8,529,000 in the previous year[144] Management and Governance - The audit committee has reviewed the financial statements for the six months ending June 30, 2023, with Deloitte providing a review report[100] - The company has complied with the corporate governance code, with some deviations regarding the roles of the chairman and CEO[95][98] - The remuneration committee is responsible for setting the executive directors' remuneration policies and evaluating their performance[102] - The nomination committee regularly reviews the board's structure and composition, making recommendations for changes[103] - The company has three independent non-executive directors on the audit committee, ensuring adequate oversight[100] - The chairman and managing director roles are held by the same individual, which the board believes strengthens leadership[98] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[6] - The company anticipates that 2023 revenue will be slightly higher than last year, despite caution regarding gross profit and general business risks due to inflation and high interest rates[63] - The company plans to continue focusing on the development of plating machinery and related industrial equipment to drive future growth[137]

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，概不對因本公告全部或任何部分內容所產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 ASIA TELE-NET AND TECHNOLOGY CORPORATION LIMITED * 亞亞亞亞 洲洲洲洲 聯聯聯聯 網網網網 科科科科 技技技技 有有有有 限限限限 公公公公 司司司司 (於百慕達註冊成立之有限公司) (股份代號: 679) 截截截截至至至至二二二二零零零零二二二二三三三三年年年年六六六六月月月月三三三三十十十十日日日日止止止止六六六六個個個個月月月月之之之之 中中中中期期期期業業業業績績績績公公公公佈佈佈佈 亞洲聯網科技有限公司 (「本公司」) 董事會 (「董事會」) 謹此宣佈，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期間之未經審核業績連同比較數字載列如下﹕ 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 附註 二零二三年 二零二二年 千港元 千港元 (未經審核) (未經審核) 收入－與客戶簽訂合約 ...

Financial Performance - The company reported a loss attributable to owners of approximately HKD 32,727,000 for the year ended December 31, 2022, a significant decrease from a loss of HKD 838,547,000 in the previous year, primarily due to reduced impairment losses under expected credit loss models and tax provisions being reversed [4]. - Revenue for the year was approximately HKD 319,673,000, representing a decrease of 12.3% compared to the previous year, mainly due to weakened demand for high-end communication equipment and automobiles [6]. - The gross profit margin decreased to 9.3% from approximately 10.1% in the previous year, attributed to customer price pressures and increased material costs due to inflation [7]. - The basic loss per share for the year was HKD 0.08, a significant improvement from HKD 1.97 in the previous year [5]. - Tax expenses were approximately HKD 28,621,000, reflecting a pre-tax profit of about HKD 100,070,000, compared to a loss of HKD 1,048,133,000 in the previous period [35]. Revenue Composition - The revenue composition showed that approximately 77.6% came from the printed circuit board business, while 22.4% was from surface treatment, indicating a slight shift in business focus [6]. - The geographical revenue breakdown indicated that China accounted for 74.6% of total revenue, an increase from 60.3% in the previous year, while revenue from the US decreased to 4.8% from 11.4% [6]. - The revenue from the printed circuit board business decreased by 10.7% from HKD 211,856,000 in the previous year to HKD 189,166,000 in the current year, with 91.0% of sales directed to China [56]. - Surface treatment business revenue decreased by 12.1% from approximately HKD 61,998,000 to approximately HKD 54,477,000 [61]. Income and Expenses - Other income and losses amounted to approximately HKD 47,260,000, which included a net foreign exchange loss of HKD 54,025,000, compared to a gain of HKD 2,714,000 in the previous year, largely due to an 8.5% depreciation of the Renminbi [10][13]. - Interest income from bank deposits was approximately HKD 11,333,000, down from HKD 19,945,000 in the previous year [17]. - The company generated approximately HKD 90,369,000 in other income, which included interest from loans and investments, with a notable decrease in deferred consideration interest income from HKD 244,341,000 in the previous year [15]. - Administrative expenses totaled approximately HKD 108,185,000, an increase of about HKD 47,924,000 compared to the previous period [24]. Impairment and Provisions - The net impairment loss reversal for deferred consideration was approximately HKD 58,900,000, significantly improved from a net loss of HKD 1,320,267,000 in the previous period [30]. - The company provided a redundancy cost provision of approximately HKD 22,390,000 during the review period [27]. Market and Economic Outlook - The economic outlook for 2023 is bleak, with the IMF projecting global growth to decline from 3.4% in 2022 to 2.9% [68]. - The World Bank warns of widespread economic downturn, predicting global output growth of only 1.7% in 2023 due to persistent high inflation and monetary tightening [68]. - The company plans to enhance cost management and optimize operational efficiency in response to the changing economic landscape [68]. Corporate Governance - The company is committed to maintaining good corporate governance standards, emphasizing integrity, transparency, and independence [175]. - The board consists of two executive directors and three independent non-executive directors, ensuring a balance of power and expertise [180]. - The company has established service contracts with executive directors, which will continue unless terminated with six months' written notice [138]. - The board is committed to ensuring that any significant transactions involving major shareholders or directors are reviewed and handled appropriately [190]. Shareholder Information - As of December 31, 2022, the equity attributable to the owners of the company was approximately HKD 1,184,249,000, a decrease from HKD 1,319,202,000 as of December 31, 2021 [92]. - The company reported a final dividend of HKD 0.02 per share, totaling HKD 0.03 per share including the interim dividend [126]. - The top five customers accounted for approximately 44.2% of total revenue, with the largest customer representing about 18.0% [132]. Risk Management - The company has established credit limits for individual customers to mitigate credit risk, reviewing financial status and credit records regularly [120]. - The company has no foreign currency hedging policy in place but will continue to monitor foreign exchange risks [124]. - The company is committed to reducing its environmental impact through various strategic initiatives [171].

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的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容所產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 ASIA TELE-NET AND TECHNOLOGY CORPORATION LIMITED * 亞亞亞亞 洲洲洲洲 聯聯聯聯 網網網網 科科科科 技技技技 有有有有 限限限限 公公公公 司司司司 （於百慕達註冊成立之有限公司） （（（（股股股股份份份份代代代代號號號號：：：：679）））） 截截截截至至至至二二二二零零零零二二二二二二二二年年年年十十十十二二二二月月月月三三三三十十十十一一一一日日日日止止止止年年年年度度度度之之之之全全全全年年年年業業業業績績績績公公公公佈佈佈佈 亞洲聯網科技有限公司 (「本公司」) 董事會 (「董事會」) 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 (「回顧期內」) 之經審核綜合業績，連同上年 之比較數字如下：－ 綜綜綜綜合合合合損損損損益益益益及及及及其其其其他他他他全全全全面面面面收收收收益益益益表表表表 截至二零二二年十二 ...