Financial Performance - The group's revenue for the six months ended June 30, 2022, was approximately HKD 124.3 million, a decrease of about 25.5% compared to approximately HKD 166.9 million for the same period in 2021[4] - The operating loss for the reporting period increased to approximately HKD 25.4 million from approximately HKD 23.8 million in the corresponding period, primarily due to increased operational losses in the electronic products business[4] - The electronic products business revenue decreased by approximately 25.5% to about HKD 124.3 million, attributed to reduced order volumes amid rising global inflation concerns and inventory issues among major consumer goods manufacturers[9] - The company reported a loss of approximately HKD 25.4 million during the reporting period[23] - The company reported a loss attributable to owners of HKD 25,357,000, compared to a loss of HKD 23,769,000 in the previous year, representing an increase in loss of 6.6%[72] - The group incurred a loss of approximately HKD 25,357,000 during the reporting period[84] Financial Position - As of June 30, 2022, the net current liabilities were approximately HKD 109.8 million, and the net liabilities were about HKD 128.7 million[23] - The total liabilities exceeded total assets by HKD (128,666,000), compared to HKD (102,602,000) in the previous year, indicating increased financial strain[76] - The company’s current ratio was reported at 3.4 times, indicating that its current assets are sufficient to cover its short-term liabilities[59] - The unexercised principal amount of convertible bonds was HKD 158.4 million, convertible into 720 million shares at a conversion price of HKD 0.22 per share[10] - The outstanding amount of the 2021 Hong Kong shareholder loan is approximately HKD 18.1 million, with a revised disbursement schedule for the remaining amounts[20] - The company’s total receivables as of June 30, 2022, were HKD 27,020,000, a significant decrease from HKD 68,828,000 as of December 31, 2021[107] Cash Flow and Liquidity - The bank balance and cash amounted to approximately HKD 8.7 million, slightly down from about HKD 9.2 million as of December 31, 2021[26] - The company’s cash and bank balances were approximately HKD 8,724,000, a decrease of about HKD 524,000 from approximately HKD 9,248,000 as of December 31, 2021[87] - The net cash used in operating activities was HKD (1,881,000), an improvement from HKD (6,266,000) in the prior year[80] - The company’s financing activities generated a net cash inflow of HKD 2,515,000, down from HKD 9,276,000 in the previous year[80] - The company believes it will have sufficient working capital to meet its financial obligations due within the next twelve months, based on received shareholder loans and proposed equity financing[64] Shareholder and Capital Management - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2022, consistent with the previous period[8] - The company proposed a capital reorganization, including a share consolidation and a capital reduction, expected to take effect on November 9, 2022, subject to certain conditions[12] - The proposed amendments to the terms of the convertible bonds include extending the maturity date to January 31, 2025, and adjusting the conversion price to HKD 1.00 per new share[15] - The company is exploring equity financing options to improve its financial condition and support future development[27] - The company is in discussions with convertible bondholders regarding a fourth amendment to the terms of the convertible bonds, which are set to mature on January 31, 2022[116] Operational Challenges - The company emphasizes the uncertainty surrounding its ability to raise funds due to the ongoing impact of the COVID-19 pandemic[30] - The global economic outlook has significantly deteriorated, with the IMF projecting global growth to decline from 6.1% in 2021 to 3.6% in both 2022 and 2023[43] - The group’s electronic products business is facing difficulties due to global inflation risks and chip shortages, prompting a more cautious approach to the market[46] - The ongoing COVID-19 pandemic has impacted the disbursement of shareholder loans, creating uncertainties regarding liquidity and ongoing operations[89] Employee and Operational Costs - The total employee costs during the reporting period were approximately HKD 8,700,000, a decrease from HKD 13,200,000 for the same period last year[41] - Short-term benefits for the six months ended June 30, 2022, were HKD 2,220,000, a decrease of 50.3% compared to HKD 4,465,000 for the same period in 2021[127] Legal and Compliance Issues - The company is involved in a legal case with a potential liability of USD 13,500,000 related to a subsidiary, but no provision has been made in the financial statements[129]

Financial Performance - The company reported revenue of approximately HKD 124.3 million for the six months ended June 30, 2022, a decrease of about 25.5% compared to HKD 166.9 million for the same period in 2021[3]. - The loss for the reporting period increased to approximately HKD 25.4 million from about HKD 23.8 million in the corresponding period, primarily due to increased operational losses in the electronic products business[3]. - The gross profit for the six months ended June 30, 2022, was HKD 8.5 million, down from HKD 11.2 million in the previous year[6]. - The company recorded a loss of approximately HKD 15.7 million excluding the estimated interest expense on convertible bonds, compared to a loss of HKD 15.2 million in the prior period[5]. - Basic loss per share for the six months ending June 30, 2022, was approximately HKD 0.030 (25,357,000 HKD loss) compared to HKD 0.028 (23,769,000 HKD loss) for the same period in 2021[29]. - The group recorded a loss for the period, which included a provision for inventory write-down of HKD 4,121,000[27]. Dividends and Shareholder Loans - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2022[7]. - No dividends were declared or proposed for the interim period ending June 30, 2022, consistent with the same period in 2021[28]. - The total amount of shareholder loans received during the reporting period was approximately HKD 3,400,000, with an additional HKD 1,600,000 received after the reporting period[19]. - The company has received a total of HKD 20,000,000 from a shareholder loan, with the maturity extended to October 2023[59]. - The company has outstanding loans from shareholders amounting to approximately HKD 18,100,000, with a revised disbursement schedule[59]. - The company has received HKD 1,400,000 from a shareholder loan in Vietnam, with remaining undisbursed amounts of approximately HKD 300,000[61]. Current Financial Position - As of June 30, 2022, the company had a net current liability of approximately HKD 109.8 million and total liabilities of about HKD 128.7 million[16]. - The company’s cash and bank balances were approximately HKD 8.7 million as of June 30, 2022[16]. - The company’s current ratio was 3.4 times, indicating sufficient current assets to cover its liabilities due within one year[16]. - As of June 30, 2022, the group's net current assets were approximately HKD 60,400,000, with a current ratio of 3.4, indicating sufficient current assets to cover short-term liabilities[63]. - The group's bank balance and cash were approximately HKD 8,700,000 as of June 30, 2022, a decrease of about HKD 500,000 from approximately HKD 9,200,000 on December 31, 2021[65]. - As of June 30, 2022, the group had no bank borrowings, and the loans from a major shareholder amounted to approximately HKD 24,020,000, an increase from approximately HKD 20,646,000 on December 31, 2021[73]. Convertible Bonds and Capital Restructuring - The company has extended the maturity date of the convertible bonds to January 31, 2025[16]. - The total principal amount of unexercised convertible bonds was HKD 158,400,000 as of June 30, 2022[41]. - The proposed adjustment of the conversion price for the unexercised convertible bonds is set to HKD 1.00 per share, with the maturity date extended to January 31, 2025[43]. - The estimated interest expense for convertible bonds was HKD 9,687,000 for the six months ended June 30, 2022, compared to HKD 8,584,000 for the same period in 2021[24]. - The company plans to implement a capital reorganization, including a share consolidation where every 10 shares of HKD 0.20 will be consolidated into 1 share of HKD 2.00[52]. - The company has received an irrevocable commitment from the bondholders not to exercise any rights under the convertible bonds from February 1, 2022, to January 31, 2023[43]. - The company is currently discussing modifications to the terms and conditions of the unexercised convertible bonds with the bondholders[51]. - The proposed adjustments to the convertible bonds are subject to independent valuation and audit by the company's auditors[44]. Operational Challenges and Market Conditions - The operational losses in the electronic products business were attributed to reduced order volumes due to inflation concerns and inventory issues among major consumer goods manufacturers[3]. - The group plans to adopt a more cautious approach to the global economy and the electronics market to ensure competitiveness amid uncertainties[83]. - The International Monetary Fund (IMF) forecasts global growth to decline from an estimated 6.1% in 2021 to 3.6% in both 2022 and 2023, with inflation rates projected at 5.7% for developed economies and 8.7% for emerging markets in 2022[81]. - China's economy grew by only 0.4% year-on-year in Q2 2022, significantly lower than the 6.8% growth in Q1, resulting in a half-year growth rate of 2.5%[83]. - The official manufacturing Purchasing Managers' Index (PMI) in China fell from 50.2 in June 2022 to 49.0 in July 2022, indicating a contraction in the manufacturing sector[83]. Compliance and Reporting - The group has not reported segment financial information due to the integration of resources and the shift in its operational model to trading electronic and electrical components[23]. - The company has not applied any new or revised Hong Kong Financial Reporting Standards that are not yet effective during the reporting period[22]. - The audit committee has reviewed the accounting principles and practices adopted by the group, including the unaudited interim financial statements for the reporting period[90]. - The interim report for the six months ending June 30, 2022, will be sent to shareholders and published on the company's website in due course[91]. - The company's shares were suspended from trading on September 1, 2022, until the earnings announcement is published[92]. - The company has applied for the resumption of trading on September 30, 2022, at 9:00 AM[92].

Financial Performance - The company reported revenue of approximately HKD 303,500,000 for the year ended December 31, 2021, a decrease of 15.3% compared to HKD 358,500,000 for the year ended December 31, 2020[6]. - The net loss for the reporting period was approximately HKD 54,200,000, a slight improvement from a net loss of approximately HKD 56,400,000 in the previous year[6]. - The gross profit for the year was HKD 13,321,000, down from HKD 21,888,000 in the previous year[8]. - The group incurred a loss of approximately HKD 54,200,000 during the reporting period[16]. - As of December 31, 2021, the net current liabilities were approximately HKD 87,400,000, and the net liabilities were approximately HKD 102,600,000[16]. - The current ratio was approximately 2.9 times, indicating sufficient current assets to cover current liabilities[19]. - The group’s current liabilities (excluding convertible bonds and shareholder loans) decreased significantly by approximately 68.9% year-on-year[19]. - The group has no bank borrowings as of December 31, 2021, with convertible bonds accounting for approximately 72.7% of total liabilities[19]. - The company reported a loss of approximately HKD 54,200,000 during the reporting period[124]. - As of December 31, 2021, the company's net current liabilities were approximately HKD 87,400,000, and total liabilities were about HKD 102,600,000[124]. - The company had bank deposits and cash amounting to approximately HKD 9,200,000 as of the reporting date[124]. Operational Changes - The electronic products business adjusted its operational model from manufacturing and trading to trading electronic components, reducing supply chain risks amid ongoing COVID-19 challenges[6]. - Revenue from the electronic products business decreased by approximately 32.1% in the second half of 2021 due to a shortage of wafers, impacting supply to customers[11]. - The company has transitioned its operational model from manufacturing to trading electronic and electrical components, focusing on its business operations in Hong Kong and Vietnam[143]. Shareholder Loans and Financing - The company received a total of HKD 20,000,000 in unsecured and interest-free loans from a major shareholder, with the repayment date extended to October 2023[14]. - The remaining amount of the 2021 Hong Kong shareholder loan is approximately HKD 19,700,000, with a revised disbursement schedule for the remaining funds[14]. - The group received approximately HKD 10,800,000 and HKD 900,000 from the 2019 and 2021 shareholder loans, respectively, during the reporting period[20]. - The company has not yet exercised convertible bonds amounting to HKD 158,400,000, which are due on January 31, 2022[12]. - The company is in discussions with a major shareholder regarding the fourth amendment of the convertible bond terms, which have been extended three times previously[125]. Employee and Workforce Changes - The total employee cost for the reporting period was approximately HKD 24,000,000, down from HKD 28,400,000 in 2020[36]. - The group had 35 full-time employees as of December 31, 2021, a significant decrease from 468 in 2020[36]. - The company has a total of 35 employees as of December 31, 2021, down from 39 in 2020, indicating a decrease of approximately 10.26% in total headcount[195]. - The employee turnover rate for males increased significantly to 58.33% in 2021 from 37.80% in 2020, while the turnover rate for females rose to 40.00% from 11.80%[197]. - The company has a total of 21 employees in Hong Kong, down from 32 in 2020, reflecting a decrease of approximately 34.38% in that region[195]. Economic Outlook - The International Monetary Fund projected global economic growth to slow from 5.9% in 2021 to 4.4% in 2022[39]. - China's GDP growth for 2021 was 8.1%, with a slowdown noted in the fourth quarter at 4.0%[41]. - The economic growth forecast for China in 2022 has been downgraded from 5.6% to 4.8% due to pandemic disruptions and pressures in the real estate sector[43]. - Retail sales in China increased by only 1.7% in December 2021, marking the slowest growth in 14 months, indicating ongoing consumer concerns[43]. - The semiconductor shortage and rising prices in the electronics industry are expected to create supply-demand uncertainties in 2022, making it a challenging year[43]. Corporate Governance - The company has committed to maintaining high standards of corporate governance and has applied the principles of the Corporate Governance Code during the reporting period[89]. - The board consists of three executive directors and two independent non-executive directors, ensuring a balanced composition with diverse skills and experience[92]. - The company has established five board committees, including the Audit Committee and the Nomination Committee, to oversee various aspects of governance[92]. - The independent non-executive directors confirmed their independence as of December 31, 2021, and the company believes their independence has not been affected[99]. - The company has arranged appropriate insurance coverage for legal claims against directors[102]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report emphasizes the company's commitment to sustainability and transparency in its operations[142]. - The ESG committee is responsible for monitoring and evaluating the company's performance in environmental, social, and governance matters, ensuring compliance with relevant laws and regulations[149]. - The company aims to integrate sustainability into its business operations and fulfill its corporate responsibilities by setting specific goals and indicators to minimize environmental impact[149]. - The company is committed to enhancing the transparency of its data disclosures and taking responsibility for its ESG performance[147]. - The company has established a stakeholder engagement process to gather feedback on environmental, social, and governance (ESG) issues, focusing on areas such as anti-corruption and product responsibility[155]. Sustainability Goals - The company aims to reduce total greenhouse gas emissions below the reporting period levels within the next five years[166]. - The company has set a target to reduce total energy consumption below the levels reported during the current period over the next five years[173]. - The company has implemented measures to promote water conservation, including posting water-saving slogans in visible areas[177]. - The company has prioritized the use of energy-efficient appliances and LED lighting systems to enhance energy efficiency[173]. - The company has integrated climate-related risks into its existing risk management system and developed relevant mitigation measures[182].

Financial Performance - The group's revenue for the six months ended June 30, 2021, was approximately HKD 166.9 million, an increase of about 6.0% compared to approximately HKD 157.4 million for the same period in 2020[4]. - The company recorded a loss of approximately HKD 15.2 million, excluding the estimated interest expense on convertible bonds, compared to a loss of approximately HKD 20.2 million in the prior period[6]. - The company reported a loss of approximately HKD 23,800,000 for the period, with a net debt of about HKD 72,500,000 as of June 30, 2021[48]. - The loss attributable to the owners of the company for the period was HKD 23,769,000, a slight improvement from HKD 27,811,000 in the prior year[55]. - The company reported a net loss of HKD 23,769,000 for the six months ended June 30, 2021, compared to a loss of HKD 27,811,000 for the same period in 2020, indicating an improvement of approximately 14.7%[63]. Gross Profit and Margins - Gross profit increased to HKD 11.2 million, with a gross margin improvement from approximately 5.8% in the prior period to approximately 6.7% in the reporting period[9]. - Gross profit for the same period was HKD 11,174,000, an increase from HKD 9,158,000 in 2020, reflecting improved profitability[55]. Cash and Liabilities - As of June 30, 2021, the company's net liabilities were approximately HKD 72.5 million, with cash and bank balances of approximately HKD 13.1 million[13]. - The current ratio as of June 30, 2021, was 1.9, indicating that current assets are sufficient to cover current liabilities, excluding convertible bonds and other payables[13]. - The company's net debt as of June 30, 2021, was HKD 72,484,000, compared to HKD 48,856,000 at the end of 2020, indicating a deterioration in financial position[61]. - Current liabilities rose to HKD 263,844,000 from HKD 129,400,000, reflecting an increase of approximately 104%[60]. Shareholder Loans and Financing - The total amount of shareholder loans received during the reporting period was approximately HKD 10,800,000, with 87.8% of the 2019 shareholder loans transferred to the group[15]. - The company received a total of HKD 10,800,000 in shareholder loans during the reporting period, with an expectation to receive an additional HKD 2,700,000 by the end of December 2021[49]. - The company entered into two additional loan agreements for approximately HKD 21,688,000 in shareholder loans for 2021 to improve liquidity[71]. Business Operations and Strategy - The company is exploring business opportunities in Vietnam, including a non-binding cooperation framework agreement with a contractor for offshore wind power projects[9]. - The company plans to adopt more cautious measures in response to market and customer demand changes, focusing on cost control to maintain competitiveness[33]. - The company aims to seek other business opportunities in the market to capture potential market chances[33]. Employee and Operational Metrics - The total employee costs during the reporting period were approximately HKD 13,200,000, compared to HKD 13,400,000 for the same period in 2020[29]. - The group had 47 full-time employees as of June 30, 2021, a significant decrease from 510 employees a year earlier[29]. Economic Context - The global economy is projected to grow by 6.0% in 2021 after a contraction of 3.3% in 2020, with a slowdown to 4.4% in 2022[30]. - China's economy grew by 7.9% in Q2 2021, resulting in a 12.7% growth for the first half of the year, significantly improving compared to the previous year[32]. - The IMF forecasts China's economic growth at 8.4% for 2021 and 5.6% for 2022, but warns of increasing downward pressure in the second half of the year[32]. Financial Instruments and Taxation - The company did not incur any Hong Kong profits tax during the reporting periods due to a lack of taxable profits[81]. - The company’s Chinese subsidiaries were not required to pay corporate income tax due to sufficient tax losses carried forward[83]. Stock Options and Related Party Transactions - The company has a stock option plan allowing the board to grant options for up to 84,017,421 shares, equivalent to 10% of the total shares issued as of June 7, 2021[40]. - The company reported related party transactions with outstanding balances as of June 30, 2021, including 6,710 thousand HKD in payable director remuneration and 20,200 thousand HKD in loans from a major shareholder[102].

目錄 | | 頁次 | | --- | --- | | 公司資料 | 2 | | 業績概覽及財務摘要 | 3 | | 管理層討論及分析 | 4 | | 董事履歷詳情 | 12 | | 董事會報告書 | 14 | | 企業管治報告 | 20 | | 環境、社會及管治報告 | 34 | | 獨立核數師報告 | 54 | | 綜合損益表 | 57 | | 綜合損益及其他全面收益表 | 58 | | 綜合財務狀況表 | 59 | | 綜合權益變動表 | 61 | | 綜合現金流量表 | 62 | | 綜合財務報表附註 | 64 | | 財務資料摘要 | 138 | 1 二零二零年年報 瑞鑫國際集團有限公司 目錄 公司資料 執行董事 李揚女士 （主席） 黃漢水先生 楊俊杰先生 獨立非執行董事 何志輝先生 張掘先生 審核委員會 何志輝先生 （主席） 張掘先生 薪酬委員會 張掘先生 （主席） 何志輝先生 提名委員會 何志輝先生 張掘先生 投資委員會 張掘先生 （主席） 何志輝先生 公司秘書 曾文思女士 核數師 信永中和（香港）會計師事務所有限公司 註冊公眾利益實體核數師 註冊辦事處 Clarendon House 2 Ch ...

RUIXIN INTERNATIONAL HOLDINGS LIMITED 瑞鑫國際集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：724） 2020 中期報告 公司資料 執行董事 李揚女士 （主席） 林日強先生 黃漢水先生 楊俊杰先生 獨立非執行董事 何志輝先生 張掘先生 審核委員會 何志輝先生 （主席） 張掘先生 薪酬委員會 張掘先生 （主席） 何志輝先生 提名委員會 何志輝先生 張掘先生 投資委員會 張掘先生 （主席） 何志輝先生 公司秘書 曾文思女士 註冊辦事處 Clarendon House 2 Church Street Hamilton, HM 11 Bermuda 總辦事處及香港主要營業地點 香港 灣仔道133號 卓凌中心18樓 主要股份登記及過戶辦事處 Conyers Corporate Services (Bermuda) Limited Clarendon House 2 Church Street PO Box HM1022 Hamilton HM DX Bermuda 香港股份登記及過戶辦事分處 卓佳登捷時有限公司 香港 皇后大道東183號 合和中心54樓 股份上市資料 w ...

RUIXIN INTERNATIONAL HOLDINGS LIMITED 瑞鑫國際集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：724） 2019 年報 目錄 | | 頁次 | | --- | --- | | 公司資料 | 2 | | 業績概覽及財務摘要 | 3 | | 管理層討論及分析 | 4 | | 董事履歷詳情 | 10 | | 董事會報告書 | 12 | | 企業管治報告 | 18 | | 環境、社會及管治報告 | 31 | | 獨立核數師報告 | 49 | | 綜合損益表 | 52 | | 綜合損益及其他全面收益表 | 53 | | 綜合財務狀況表 | 54 | | 綜合權益變動表 | 56 | | 綜合現金流量表 | 58 | | 綜合財務報表附註 | 60 | | 財務資料摘要 | 138 | 1 二零一九年年報 瑞鑫國際集團有限公司 目錄 公司資料 執行董事 李揚女士 （主席） 林日強先生 黃漢水先生 楊俊杰先生 獨立非執行董事 何志輝先生 張掘先生 審核委員會 何志輝先生 （主席） 張掘先生 薪酬委員會 張掘先生 （主席） 何志輝先生 提名委員會 何志輝先生 張掘先生 投資委員 ...

（於百慕達註冊成立之有限公司） （股份代號：724） 2019 中期報告 公司資料 執行董事 林日強先生 黃漢水先生 楊俊杰先生 RUIXIN INTERNATIONAL HOLDINGS LIMITED 瑞鑫國際集團有限公司 獨立非執行董事 何志輝先生 劉艷芳女士 張掘先生 審核委員會 何志輝先生 （主席） 劉艷芳女士 張掘先生 薪酬委員會 張掘先生 （主席） 何志輝先生 劉艷芳女士 提名委員會 劉艷芳女士 （主席） 何志輝先生 張掘先生 投資委員會 張掘先生 （主席） 何志輝先生 劉艷芳女士 公司秘書 網址 曾文思女士 註冊辦事處 Clarendon House 2 Church Street Hamilton, HM 11 Bermuda 總辦事處及香港主要營業地點 香港 灣仔道133號 卓凌中心18樓 主要股份登記及過戶辦事處 Conyers Corporate Services (Bermuda) Limited Clarendon House 2 Church Street PO Box HM1022 Hamilton HM DX Bermuda 香港股份登記及過戶辦事分處 卓佳登捷時有限公司 香 ...

RUIXIN INTERNATIONAL HOLDINGS LIMITED 瑞鑫國際集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：724） 2018 (Incorporated in Bermuda with limited liability) (Stock Code: 724) RUIXIN INTERNATIONAL HOLDINGS LIMITED 瑞鑫國際集團有限公司 ANNUAL REPORT 2018 目錄 | | 頁次 | | --- | --- | | 公司資料 | 2 | | 業績概覽及財務摘要 | 3 | | 管理層討論及分析 | 4 | | 董事履歷詳情 | 10 | | 董事會報告書 | 12 | | 企業管治報告 | 20 | | 環境、社會及管治報告 | 30 | | 獨立核數師報告 | 43 | | 綜合損益表 | 49 | | 綜合損益及其他全面收益表 | 50 | | 綜合財務狀況表 | 51 | | 綜合權益變動表 | 53 | | 綜合現金流量表 | 55 | | 綜合財務報表附註 | 56 | | 財務資料摘要 | 134 | 1 瑞鑫國際集團有限公司 二 ...