Financial Performance - Revenue for the year ended December 31, 2020, was HK$22,171,710, a decrease of 1.6% from HK$22,532,499 in 2019[7] - Gross profit increased by 12.2% to HK$2,048,801 compared to HK$1,825,411 in the previous year[7] - Profit for the year attributable to owners of the Company was HK$502,287, down 10.7% from HK$562,456 in 2019[7] - EBITDA for the year was HK$2,481,149, reflecting an increase of 8.4% from HK$2,288,349 in 2019[7] - Basic earnings per share (EPS) decreased to 15.27 HK cents, down 10.7% from 17.10 HK cents in 2019[7] - The Group's revenue for 2020 was HK$22.2 billion, a decrease of approximately 1.6% compared to 2019, with smartphone-related products declining by 9.7% year-on-year[23] - Profit attributable to owners of the Company decreased by approximately 10.7% to approximately HK$502.3 million in 2020, impacted by a one-off provision of approximately HK$282 million for receivables[25] - The Group's profit before tax for the year was HK$738,692[51] - The gross profit margin increased to approximately 9.2% in 2020, up from 8.1% in 2019, while the net profit margin decreased to 2.3% from 2.5%[38] - Other income increased by approximately 6.1% or HK$9 million to approximately HK$155 million, primarily due to compensation income received in 2020[67] Revenue Breakdown - Revenue breakdown shows 36% from electronic consumer products and 64% from LCD products in 2020[12] - The geographical revenue distribution indicates 80% from China, 6% from Europe, and 3% from Hong Kong in 2020[11] - The LCD business, including touch products, accounted for about 64% of the Group's revenue in 2020, while other businesses accounted for 36%[41] - External sales for LCD products were HK$14,247,960, while consumer products generated HK$7,923,750, totaling HK$22,171,710 in consolidated revenue[51] - The revenue from external customers in the PRC was HK$17,748,804, an increase from HK$15,631,008 in 2019[55] Operational Developments - The fifth generation TFT-LCD production plant in Shanwei entered mass production in Q1 2020, contributing to reduced production costs for TFT-LCD screens[30] - Another fifth generation TFT-LCD production plant in Sichuan commenced full-scale trial operation in late 2020 and is expected to enter mass production in 2021[30] - The non-smartphone related products business, particularly in industrial, medical, and IoT sectors, continued to grow by 11.6% year-on-year in 2020[23] - The Group invested approximately HK$876 million in research and development in 2020, compared to HK$809 million in 2019[39] - The Group acquired plant and machinery amounting to HK$275,407,000 and furniture, fixtures, and equipment amounting to HK$49,109,000 to expand manufacturing capacity in Shan Wei City, Guangdong Province, and Meishan City, Sichuan Province[131] Dividends and Shareholder Returns - The company does not recommend the payment of a final dividend for the year ended December 31, 2020[8] - No interim or final dividends were declared or paid for the year ended December 31, 2020[37] - The total dividend payout ratio for the year ended 31 December 2020 was zero, with no final or interim dividends declared[112] - The Company has not declared any dividends for the fiscal year, indicating a focus on reinvestment and growth strategies[131] Legal Matters - A wholly owned subsidiary faced a legal claim for approximately US$23.9 million (equivalent to approximately HK$186.4 million) regarding alleged defective goods[109] - A settlement agreement was reached in December 2020, requiring the subsidiary to deliver products under pre-agreed terms, with claims deemed settled upon completion[110] - The company received three civil lawsuits claiming patent infringement, with total damages sought amounting to RMB 150 million[107] - The legal proceedings related to the patent infringement claims were dismissed, resulting in no compensation payable by the group[107] Management and Governance - The Group's management team includes experienced professionals with extensive backgrounds in finance and accounting, enhancing corporate governance[127] - The Company has established a Remuneration Committee and a Nomination Committee in accordance with the relevant requirements of the Code[174] - The Audit Committee comprises independent non-executive directors and meets at least four times a year[171] - The Board is responsible for the Company's corporate governance and financial performance[186] Financial Position - Total assets for the Group as of December 31, 2020, were HK$26.5 billion, with total liabilities amounting to HK$16.1 billion[17] - The Group's net current liabilities improved to approximately HK$3,303 million as of December 31, 2020, from HK$3,840 million in 2019, with the current ratio increasing to 0.77 times[95] - The Group's gearing ratio decreased to approximately 52% as of December 31, 2020, down from 70% at the end of 2019[96] - As of December 31, 2020, the company's distributable reserves amounted to HK$1,679,033,000, an increase from HK$1,637,774,000 in 2019, reflecting a growth of approximately 2.56%[132] Employee and Corporate Social Responsibility - Total staff costs for 2020 were approximately HK$1.66 billion, with around 16,000 employees in the PRC and about 100 in Hong Kong[102] - The Group made charitable and other donations amounting to HK$225,000 during the year[183]

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 10,240,426, a slight increase of 0.9% compared to HKD 10,332,000 in 2019[24] - Gross profit decreased by 3.4% to HKD 942,741 from HKD 976,160 in the previous year[24] - Profit attributable to owners of the company surged by 113.2% to HKD 299,708, up from HKD 140,587 in 2019[25] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 20.1% to HKD 1,192,710 from HKD 993,501 in the prior year[25] - Basic earnings per share rose significantly to HKD 9.11, compared to HKD 4.27 in the same period last year[30] - Total comprehensive income for the period attributable to owners was HKD 145,952, down from HKD 199,774 in 2019[30] - The company reported a pre-tax profit of HKD 415,000, compared to HKD 235,224 in the previous year[29] - The total comprehensive income for the period was HKD 8,733,689, indicating a robust performance in the first half of 2020[35] - The company's profit for the six months ended June 30, 2020, was HKD 299,708,000, compared to HKD 140,587,000 for the same period in 2019, representing a significant increase[60] Assets and Liabilities - Non-current assets totaled HKD 13,568,011, a decrease from HKD 13,978,778 as of December 31, 2019[32] - Current assets, including inventory, amounted to HKD 11,545,598, compared to HKD 11,007,458 in the previous year[32] - As of June 30, 2020, total current liabilities amounted to HKD 14,136,605, a decrease from HKD 14,847,781 as of December 31, 2019, representing a reduction of approximately 4.8%[34] - The net current liabilities were reported at HKD (2,591,007), an improvement from HKD (3,840,323) in the previous year, indicating a positive change in liquidity[34] - Total assets less current liabilities stood at HKD 10,977,004, up from HKD 10,138,455, reflecting an increase of about 8.3%[34] - Non-current liabilities, including bank and other borrowings, totaled HKD 1,152,077, compared to HKD 607,066 in the previous period, showing a significant increase of approximately 89.8%[34] - The total equity attributable to owners of the company reached HKD 9,185,385, an increase from HKD 9,007,699, representing a growth of about 1.97%[34] - The company's retained earnings were reported at HKD 4,694,022, reflecting a stable position in terms of profit retention[35] Cash Flow and Financing - Net cash generated from operating activities for the six months ended June 30, 2020, was HKD 1,223,148, an increase of 11.6% compared to HKD 1,096,053 for the same period in 2019[40] - The net increase in cash and cash equivalents for the six months ended June 30, 2020, was HKD 98,718, compared to HKD 362,400 in the previous year[40] - The cash and cash equivalents at the end of the period stood at HKD 659,717, down from HKD 1,489,546 at the end of June 2019[40] - The company secured new bank loans totaling approximately HKD 6,220,443,000 during the reporting period, compared to HKD 4,717,825,000 in the same period last year, indicating a year-over-year increase of about 31.7%[71] - The company's bank borrowings as of June 30, 2020, included fixed-rate borrowings of approximately HKD 3,556,529,000, up from HKD 2,128,867,000 as of December 31, 2019, reflecting a significant increase of around 67%[72] - The company's total borrowings as of June 30, 2020, were HKD 5,483,257,000, a decrease from HKD 5,822,616,000 as of December 31, 2019, indicating a reduction of about 5.8%[71] - The company's net borrowings decreased by approximately 13% or HKD 729 million, from HKD 5.657 billion as of December 31, 2019, to HKD 4.928 billion as of June 30, 2020[104] Expenses and Costs - Administrative expenses increased to HKD 157,764 from HKD 149,653, while distribution and selling expenses decreased to HKD 205,330 from HKD 241,081[29] - Financial costs for the six months ended June 30, 2020, were HKD 190,346, slightly down from HKD 196,165 in the same period of 2019[56] - The total employee cost for the period was approximately HKD 781 million, with around 18,000 workers employed at the company's factory in Shanwei[111] - The company reported a short-term employee benefit expense of HKD 6,330,000 for the six months ended June 30, 2020, compared to HKD 5,303,000 for the same period in 2019, representing an increase of about 19.3%[76] Market and Product Development - The company plans to continue focusing on the development of new technologies and products in the electronic consumer segment to drive future growth[50] - The company expects to achieve revenue growth targets for 2020, driven by the launch of new 5G smartphones and the production ramp-up of the fifth-generation TFT-LCD production line in Shanwei[97] - The fifth-generation TFT-LCD production line in Shanwei has entered mass production, contributing positively to the company's overall performance[99] - The company plans to continue enhancing its R&D capabilities to support the development of new products[97] Corporate Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to review and supervise financial reporting, risk management, and internal controls[126] - The company has complied with all applicable corporate governance code provisions, except for the separation of the roles of Chairman and CEO, which are held by the same individual[128] - The independent non-executive director was unable to attend the annual general meeting due to concerns over COVID-19[130] - The mid-term results for the six months ending June 30, 2020, have been reviewed by the audit committee[126] - The company has published its mid-term results and report on the HKEX news website and its own website[131]

Financial Performance - Revenue for the year ended December 31, 2019, was HK$22,532,499, representing a 14.0% increase from HK$19,762,442 in 2018[4] - Profit for the year attributable to owners of the Company surged to HK$562,456, a remarkable increase of 658.1% compared to HK$74,190 in 2018[4] - EBITDA for 2019 was HK$2,288,349, reflecting a growth of 30.1% from HK$1,758,630 in the previous year[4] - Basic earnings per share (EPS) increased to 17.10 HK cents, up 624.6% from 2.36 HK cents in 2018[4] - The gross profit margin for 2019 was 8.1%, while the operating profit margin was 5.3%[7] - The company experienced a gross profit of HK$1,825,411, a decrease of 3.2% from HK$1,885,553 in 2018[4] - The Group achieved a record high revenue of approximately HK$22.5 billion in 2019, representing a growth of approximately HK$2.7 billion or 14.0% compared to 2018[16] - Profit for the year attributable to owners of the Company increased significantly by approximately 6.6 times to approximately HK$562 million compared to 2018[18] - The Group's revenue for 2019 reached approximately HK$22.5 billion, an increase of 14.0% compared to HK$19.8 billion in 2018[31] - Profit attributable to the owners of the Company surged to approximately HK$562 million, a significant increase of about 658.1% from approximately HK$74 million in 2018[31] Revenue Sources - Turnover from China accounted for 75% of total revenue in 2019, up from 69% in 2018[9] - Electronic consumer products represented 35% of total turnover in 2019, while LCD products accounted for 65%[10] - The Group's LCD business, including touch products, accounted for about 65% of total revenue in 2019, up from 61% in 2018, attributed to increased sales of touch-related products[33] - Revenue from smartphone-related products and non-smartphone-related products both increased in 2019 compared to 2018, with a target revenue mix of 50% for each segment in the future[34] - Revenue from external customers in the PRC reached HK$15,631,008 in 2019, compared to HK$14,731,111 in 2018, indicating a growth of about 6%[44] Cost and Expenses - Administrative expenses were reduced by approximately HK$77 million or 19.4% in 2019 compared to 2018[17] - The Group's distribution and selling expenses slightly decreased by approximately 3.0% or HK$13 million to approximately HK$430 million, despite a revenue increase of 14%[61] - The Group's finance costs increased by approximately 18.5% or HK$65 million to approximately HK$419 million, attributed to rising interest rates and new higher fixed interest rate loans[63][64] - The Group's total staff costs for 2019 were approximately HK$1,592 million[100] Assets and Liabilities - The Group's total assets as of December 31, 2019, were approximately HK$24.99 billion, while total liabilities were approximately HK$15.98 billion[14] - The Group's gross debts decreased to approximately HK$6.3 billion as of December 31, 2019, down from approximately HK$8.04 billion in 2018[22] - The Group's total debt decreased from approximately HK$80.44 billion to about HK$62.95 billion between December 31, 2018, and December 31, 2019[25] - The Group's current liabilities decreased to approximately HK$3,840 million as of December 31, 2019, down from approximately HK$4,927 million in 2018, resulting in an improved current ratio of 0.74 times[92] - The Group's net borrowings decreased by approximately 17.1% or HK$1,164 million, totaling approximately HK$5,657 million compared to HK$6,821 million in 2018[87] Production and Operations - The fifth generation TFT-LCD production plant in Shanwei entered mass production in the first quarter of 2020, expected to reduce production costs for LCD modules[23] - A new fifth-generation TFT-LCD production facility in Sichuan is in partial trial operation, with full machine installation expected to be completed in 2020[26] - The Group's major production bases are located in regions not severely affected by COVID-19, ensuring operational stability[109] - The Group activated the highest level of emergency plan on 22 January 2020 to manage COVID-19 impacts[110] - The Group established 9 teams for epidemic prevention and control measures to ensure staff health and production safety[110] Corporate Governance - The Group's independent non-executive directors include experienced professionals in accounting and financial management, enhancing corporate governance[130][131] - The Company has not adopted any share option scheme during the year ended December 31, 2019[160] - The Company complied with all applicable code provisions of the Corporate Governance Code throughout the year, except for a major deviation regarding the roles of the Chairman and Chief Executive being performed by the same individual[178] - The Board is responsible for the Company's corporate governance and is ultimately accountable for the Company's activities, strategies, and financial performance[187] Future Outlook - The management anticipates some revenue growth in 2020 despite the challenges posed by the COVID-19 pandemic[24] - Management remains confident in achieving revenue growth in 2020 despite challenges posed by the COVID-19 pandemic, with a projected 2.3% decrease in global smartphone sales[26] - The management expects the 5th generation TFT-LCD production line in Shanwei to contribute positively to the Group's performance in 2020[54] - The management plans to continue improving the Group's net current liabilities position through debt reduction and cost control measures[92]

Financial Performance - Revenue for the six months ended June 30, 2019, was HKD 10,240,426 thousand, representing a 13% increase from HKD 9,065,249 thousand in 2018[19] - Gross profit for the same period was HKD 976,160 thousand, up 3.2% from HKD 945,849 thousand[19] - Profit attributable to owners of the company surged to HKD 140,587 thousand, a remarkable increase of 2,369.5% compared to HKD 5,693 thousand in the previous year[19] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 21.2% to HKD 993,501 thousand from HKD 819,403 thousand[19] - Basic earnings per share rose to HKD 4.27, a significant increase of 2,272.2% from HKD 0.18[19] - The company reported a pre-tax profit of HKD 235,224 thousand, compared to HKD 82,149 thousand in the previous year[23] - Total comprehensive income attributable to owners of the company was HKD 199,774 thousand, compared to a loss of HKD 149,587 thousand in 2018[24] - The company achieved a profit of HKD 177,776,000 during the reporting period, contributing to a total comprehensive income of HKD 238,838,000[30] - Other income increased by approximately 58.8% to about HKD 75 million, primarily due to government subsidies received amounting to approximately HKD 48 million during the period[84] - Profit attributable to the company's owners for the six months ended June 30, 2019, increased approximately 24 times to about HKD 141 million, mainly due to a significant reduction in losses from joint ventures and decreased administrative expenses[87] Assets and Liabilities - Non-current assets as of June 30, 2019, were valued at HKD 12,241,453 thousand, slightly down from HKD 12,307,604 thousand at the end of 2018[26] - Current liabilities amounted to HKD 16,231,760 thousand, compared to HKD 15,826,517 thousand in the previous year[28] - The net asset value of the company was HKD 8,733,689 thousand, reflecting a strong financial position[28] - The company reported a total equity of HKD 8,733,689,000 as of June 30, 2019, reflecting an increase from HKD 8,246,027,000 at the end of 2018[30] - The total amount of receivables as of June 30, 2019, was HKD 4,277,470, down from HKD 5,020,366 as of December 31, 2018, representing a decrease of about 14.8%[62] - Accounts payable as of June 30, 2019, totaled HKD 5,866,416,000, compared to HKD 6,495,947,000 at the end of 2018[66] - As of June 30, 2019, the company's outstanding bonds, bank, and other borrowings amounted to approximately HKD 5.238 billion, down from HKD 6.821 billion at the end of 2018[99] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2019, was HKD 1,096,053, a decrease of 47.6% compared to HKD 2,093,037 for the same period in 2018[38] - The net cash used in investing activities was HKD (374,911), compared to HKD (1,075,577) in the previous year, indicating a significant reduction in investment outflows[38] - The net cash used in financing activities was HKD (5,923,304), an increase of 57.0% from HKD (3,767,712) in the prior year[38] - The cash and cash equivalents at the end of the period were HKD 1,489,546, down from HKD 2,826,729 at the end of June 30, 2018[38] - The company reported a decrease in cash and cash equivalents of HKD 362,400 for the period, contrasting with a decrease of HKD (644,385) in the previous year[38] Investments and Capital Expenditures - The company acquired properties, plants, and equipment totaling HKD 506,935 for the six months ended June 30, 2019, a decrease from HKD 1,377,410 in the same period of 2018[60] - The company reported a capital expenditure commitment of HKD 288,000,000 for property, plant, and equipment as of June 30, 2019, down from HKD 419,000,000[71] - The group provided a corporate guarantee for bank borrowings of approximately HKD 3.41 billion for an associate company, with utilized borrowings of approximately HKD 2.12 billion as of June 30, 2019[102] Market and Product Development - The company is focused on expanding its product categories, including LCD displays and electronic consumer products such as micro-camera modules and fingerprint recognition modules[46] - The company's revenue from LCD products increased by 10.3% year-on-year, driven by an increase in market share in smartphone-related products[88] - Revenue from electronic consumer products increased by 17.6%, particularly in touch module products, due to strengthened collaboration with smartphone-related product customers[88] - The company aims to enhance its product portfolio by strengthening the development of non-smartphone-related products[90] - The company is focused on completing the trial production of the new TFT-LCD production line to support growth in non-smartphone-related product business[90] Governance and Compliance - The audit committee consists of three independent non-executive directors, chaired by Mr. Jin Guang, and meets at least four times a year to review the group's financial reporting and risk management[117] - The company has adhered to all applicable corporate governance code provisions, except for the separation of the roles of Chairman and CEO, which are held by the same person, Mr. Lin Weihua[119] - The group did not adopt any share option schemes during the review period[112] Economic Outlook - The company expects global economic growth to weaken in the second half of 2019, primarily due to slowing growth in developed economies and China, along with escalating trade tensions between the US and China[90]

Financial Performance - Revenue for the year ended December 31, 2018, was HK$19,762,442, a decrease of 4.7% from HK$20,733,418 in 2017[6] - Gross profit decreased by 7.6% to HK$1,885,553 from HK$2,040,167 in the previous year[6] - Profit for the year attributable to owners of the Company increased by 17.8% to HK$74,190 from HK$62,987 in 2017[6] - EBITDA for the year was HK$1,758,630, reflecting an increase of 8.4% compared to HK$1,622,903 in 2017[6] - Basic earnings per share (EPS) rose by 10.8% to 2.36 HK cents from 2.13 HK cents in the previous year[6] - The Group's revenue in 2018 decreased by approximately HK$971 million or 4.7% compared to 2017, totaling around HK$20.7 billion[20] - The decline in revenue was primarily due to a 15.6% year-on-year drop in domestic mobile phone shipments in China and the depreciation of the Renminbi[20] - The Group's gross profit margin and profit attributable to the owners of the Company were adversely affected by the depreciation of the Renminbi[22] - The total revenue from external customers in 2018 was HK$19,762,442, a decrease from HK$20,733,418 in 2017[51] - The Group's gross profit for the year was approximately HK$1,886 million, with a gross profit margin of approximately 9.5%, down from 9.8% in 2017[63][64] Dividends - No final dividend was proposed for the year ended December 31, 2018, compared to a final dividend of 1 HK cent in 2017[7] - The company did not pay an interim dividend for the year, marking a 100% decrease from the previous year's interim dividend of 1 HK cent[6] - The total dividend payout ratio for the year was zero, with no final or interim dividends proposed[116] - No interim or final dividends were declared for the year ended December 31, 2018[139][142] Market and Operational Strategies - The directors indicated a focus on improving profitability despite a decline in revenue and gross profit margins[6] - The company is exploring new market expansion strategies to enhance revenue streams moving forward[6] - Future product development and technological advancements are prioritized to maintain competitive advantage in the market[6] - The Group's LCD business, including touch products, accounted for about 61% of total revenue in 2018, with a significant decline in sales for smartphone-related touch products[41] - Non-smartphone related revenue increased in 2018, driven by significant sales growth in compact camera modules, which contributed to 39% of the Group's revenue[42][41] - The Group anticipates revenue growth in 2019 despite challenges in the smartphone industry and ongoing Sino-US trade frictions, with opportunities arising from the 5G concept[30][32] Research and Development - The Group invested approximately HK$666 million in research and development in 2018, a decrease from HK$812 million in 2017, while continuing to register numerous patents related to manufacturing processes[43] - The company is actively involved in research and development, with a focus on enhancing product offerings and technological advancements[123] Financial Position and Liabilities - As of December 31, 2018, the Group's net current liabilities were approximately HK$4,927 million, an increase from HK$893 million as of December 31, 2017, resulting in a current ratio decrease from 0.93 to 0.69[96] - The Group's outstanding borrowings, net of restricted bank deposits, cash, and bank balances, were approximately HK$6,821 million as of December 31, 2018, representing an 18.5% increase compared to HK$5,756 million as of December 31, 2017[93] - The Group's gearing ratio based on total interest-bearing debts, net of restricted bank deposits, cash, and bank balances, increased to approximately 89% from 73% as of December 31, 2017[97] - The Group's major associate, Truly Huizhou, incurred more operating losses in 2018, contributing to an increase in share of losses of associates by approximately 19.4% or HK$72 million[71] Management and Governance - The management team has extensive experience in the electronics industry, with the Chairman and Managing Director having over 40 years of experience[118] - The Chief Financial Officer has over 20 years of experience in auditing, accounting, and financing, indicating strong financial management capabilities[120] - The company is dedicated to maintaining high standards of corporate governance, with independent directors overseeing audit and remuneration committees[129][132] - The Board is responsible for the Company's corporate governance and is accountable for its activities, strategies, and financial performance[198] Legal and Compliance - The company is currently involved in three civil complaints alleging patent infringement, with potential liabilities totaling RMB150 million[109] - The directors believe that the case has legal grounds for defense and do not expect to incur losses related to the civil complaints[112] - The Company complied with all applicable code provisions of the Corporate Governance Code throughout the year, except for a major deviation regarding the separation of roles[184]