Financial Performance - Gross profit for the year 2022 was HKD 1,484,972, a decrease from HKD 2,612,976 in 2021[3] - Total revenue for the year 2022 was HKD 376,565, down from HKD 1,595,850 in 2021, indicating a significant decline[10] - The company reported a net loss of HKD 807,092 for the year 2022 compared to a net income of HKD 1,799,602 in 2021[11] - The company’s equity attributable to owners decreased to HKD 9,985,685 in 2022 from HKD 11,282,383 in 2021, reflecting a decline in shareholder value[5] - The company's net profit for the year decreased by approximately 76.9% to about HKD 318.23 million, down from HKD 1.38 billion in the previous year[51] - Basic earnings per share dropped from HKD 0.4189 to HKD 0.0977, reflecting a significant decline in profitability[51] - The gross profit margin fell to approximately 7.7% from 11.6% in the previous year, indicating challenges in maintaining profitability[64] - The company reported a total tax expense of HKD 57.36 million for the year, a decrease from HKD 165.2 million in the previous year[51] - The total comprehensive income attributable to equity holders was HKD (781,184) thousand, compared to HKD 1,737,751 thousand in 2021[68] - The company’s total revenue for the year was significantly impacted by a one-time income reduction of approximately HKD 241 million from the acquisition of a major joint venture[51] Assets and Liabilities - Current liabilities decreased to HKD 14,017,536 in 2022 from HKD 17,017,402 in 2021, reflecting a reduction in financial obligations[5] - Non-current assets decreased to HKD 17,226,793 in 2022 from HKD 18,653,459 in 2021, indicating a decline in long-term investments[12] - Cash and cash equivalents decreased to HKD 858,759 in 2022 from HKD 1,208,068 in 2021, showing a reduction in liquidity[12] - The company’s total liabilities decreased to HKD 16,150,220 in 2022 from HKD 18,000,000 in 2021, indicating improved financial health[5] - Total accounts receivable as of 2022 amounted to HKD 990,645,000, a decrease from HKD 534,847,000 in 2021[93] - Total accounts payable reached HKD 5,860,163,000 in 2022, compared to HKD 7,946,025,000 in 2021, indicating a reduction in liabilities[93] - As of December 31, 2022, the company's net current liabilities decreased to approximately HKD 4.753 billion from HKD 5.938 billion a year earlier, with the current ratio increasing from 0.65 to 0.66[132] - The company's impairment losses decreased to approximately HKD 0.36 billion from HKD 0.49 billion in the previous year, primarily due to recoveries of certain impaired financial assets[139] Revenue and Growth Strategies - The company plans to focus on expanding its electronic consumer products segment, which includes new product development and market expansion strategies[15] - The company plans to continue investing in talent and technology development to support product growth and maintain competitive advantage[28] - The company aims to control costs and expenditures to enhance product competitiveness moving forward[28] - The company expects revenue and net profit attributable to shareholders to grow in 2023, driven by economic recovery and supply chain improvements[115] - The company plans to expand in the vehicle display sector and focus on emerging markets such as new energy vehicles[115] Research and Development - Research and development expenditure for the year was approximately HKD 796 million, slightly down from HKD 811 million in the previous year[52] - The company continues to invest in R&D to enhance its product offerings and maintain competitiveness in the market[52] Corporate Governance - The company has established an audit committee to review and supervise financial reporting and internal controls[155] - The board emphasizes that good corporate governance is crucial for safeguarding shareholder interests and enhancing group performance[170] - As of December 31, 2022, the group has complied with all applicable corporate governance code provisions, except for specific deviations noted in the interim report[170] - The board will continuously review and improve the company's corporate governance practices and principles[171] Other Financial Information - The company reported interest expenses on bank and other borrowings of HKD 309,345,000 in 2022, an increase from HKD 293,891,000 in 2021[101] - Distribution and selling expenses increased by approximately 4.8% or HKD 0.21 billion to about HKD 4.58 billion, mainly due to increased freight costs[140] - Financial expenses rose by approximately 3.9% or HKD 0.13 billion to about HKD 3.55 billion, attributed to increased bank and other borrowings[141] - The total dividend payout ratio for the year was approximately 102%[162] - The company repurchased a total of 128,124,000 ordinary shares at a total price of HKD 187.441 million, representing about 3.9% of the total issued share capital as of December 31, 2022[154]

Financial Performance - For the nine months ended September 30, 2022, the company's unaudited revenue was approximately HKD 15.15 billion, a decrease of about 9.2% compared to HKD 16.68 billion in the same period last year[6] - The gross profit for the same period was HKD 1.48 billion, representing a decline of 23.9% from HKD 1.94 billion year-on-year[6] - The profit attributable to the company's owners for the period was HKD 654.29 million, down 28.6% from HKD 916.19 million in the previous year[6] - The basic earnings per share for the period were HKD 19.95, a decrease of 28.4% compared to HKD 27.85 in the same period last year[7] - The gross profit margin for the period was approximately 9.8%, down from 11.7% in the previous year[6] - The net profit margin for the period was approximately 4.3%, down from 5.5% in the same period last year[6] Other Income and Dividends - Other income and gains for the period amounted to approximately HKD 256 million, significantly up from HKD 128 million in the previous year, mainly due to foreign exchange gains and increased government subsidies[6] - The company did not recommend the payment of an interim dividend for the nine months ended September 30, 2022, consistent with the previous year[8] Foreign Exchange Impact - The company reported a loss from foreign exchange translation of approximately HKD 1.37 billion for the period[4] Share Information - The average number of issued ordinary shares during the period was 3,278,947,581 shares, slightly down from 3,289,229,398 shares in the previous year[7]

Revenue and Profit Performance - Revenue for the first half of 2022 decreased by 2.1% to HKD 11,031.458 million compared to HKD 10,794.336 million in the same period last year[24] - Revenue for the six months ended June 30, 2022, was HK$10.794 billion, a decrease of 2.1% compared to the same period in 2021[74][75] - Gross profit declined by 19% to HKD 1,321.008 million from HKD 1,069.900 million year-over-year[24] - Gross profit margin decreased to 9.9% from 12.0% in the same period last year, primarily due to lower average selling prices of certain smartphone-related products[74][76] - Profit attributable to the company's owners decreased by 15.8% to HKD 665.473 million from HKD 560.422 million[24] - Net profit attributable to the company's owners decreased by 15.8% to HK$560.4 million, primarily due to the decline in gross profit margin[81] - Net profit for the six months ended June 30, 2022 was HK$560,422 thousand, a decrease from HK$665,473 thousand in the same period in 2021[50] - Pre-tax profit for the six months ended June 30, 2022, was HKD 620,051 thousand, compared to HKD 881,463 thousand in the same period in 2021[43] - Profit for the period was HKD 528,014 thousand[34] EBITDA and Earnings Per Share - EBITDA dropped by 7.3% to HKD 1,748.911 million compared to HKD 1,622.106 million in the previous year[24] - Basic earnings per share fell by 15.7% to 20.23 HK cents from 17.05 HK cents[24] - The weighted average number of shares for basic earnings per share calculation was 3,287,149 thousand in 2022, slightly down from 3,289,229 thousand in 2021[51] Tax and Other Income - The company reported a tax expense of HKD 157.477 million, up from HKD 92.037 million in the prior year[27] - Other income increased to HKD 104.608 million from HKD 159.239 million year-over-year[27] - Other income increased by 52.2% to HK$159.2 million, mainly due to government subsidies of HK$123.8 million received during the period[77] Associates and Comprehensive Income - The company's share of profit from associates was HKD 50.009 million, compared to HKD 6.460 million in the previous year[27] - Total comprehensive income for the period was HKD 845.438 million, down from HKD 14.837 million[28] - Total comprehensive income for the period was HKD 14,837 thousand[34] - Other comprehensive expenses for the period were HKD 513,177 thousand, mainly due to foreign exchange differences from overseas operations[34] Assets and Liabilities - Non-current assets decreased to HKD 18,653.459 million from HKD 17,384.236 million as of June 30, 2022[30] - Total current liabilities decreased to HKD 17,017,402 thousand in 2022 from HKD 15,449,899 thousand in 2021[31] - Total assets minus current liabilities slightly decreased to HKD 12,446,794 thousand in 2022 from HKD 12,715,942 thousand in 2021[31] - Net asset value increased to HKD 11,484,324 thousand in 2022 from HKD 11,659,509 thousand in 2021[31] - Total equity increased to HKD 11,484,324 thousand in 2022 from HKD 11,659,509 thousand in 2021[31] - Non-controlling interests decreased to HKD 330,750 thousand in 2022 from HKD 377,126 thousand in 2021[31] - Accounts receivable decreased to HK$3,425,938 thousand in 2022 from HK$4,103,787 thousand in 2021[54] - Accounts receivable within 60 days decreased to HK$2,363,667 thousand in 2022 from HK$3,052,566 thousand in 2021[55] - Fair value of accounts receivable and notes receivable increased to HK$837,523 thousand in 2022 from HK$534,847 thousand in 2021[58] - Accounts payable within 60 days decreased to HKD 2,811,623K (unaudited) from HKD 4,404,430K (audited) as of June 30, 2022[60] Cash Flow and Financing - Operating cash flow for the six months ended June 30, 2022, was HKD 3,000,059 thousand, compared to HKD 3,695,282 thousand in the same period in 2021[37] - Net cash used in investing activities for the six months ended June 30, 2022, was HKD 1,089,994 thousand, primarily for the purchase of property, plant, and equipment[37] - Net cash used in financing activities for the six months ended June 30, 2022, was HKD 6,472,406 thousand, mainly due to the repayment of bank and other borrowings[37] - Cash and cash equivalents increased by HKD 137,246 thousand during the six months ended June 30, 2022, compared to an increase of HKD 235,997 thousand in the same period in 2021[37] - Total bank and other borrowings increased to HKD 6,090,329K (unaudited) as of June 30, 2022, compared to HKD 6,116,506K (audited) as of December 31, 2021[61] - New bank borrowings during the interim period amounted to approximately HKD 4,641,496K, up from HKD 3,338,820K in the same period last year[63] - Fixed-rate bank borrowings as of June 30, 2022, stood at HKD 4,547,240K, with an effective annual interest rate ranging from 1.65% to 7.13%[63] - The company's net debt decreased by 12% or HK$594 million compared to December 31, 2021, with total borrowings standing at HK$4.542 billion as of June 30, 2022[85] - The capital-to-debt ratio decreased from 46% as of December 31, 2021, to 41% as of June 30, 2022[86] Expenses and Costs - Financial expenses for the six months ended June 30, 2022, were HKD 176,376 thousand, a decrease from HKD 185,789 thousand in the same period in 2021[45] - Administrative expenses increased by 22% to HK$238.1 million, mainly due to business consolidation and increased salaries and allowances[79] - Distribution and selling expenses increased by 2.9% to HK$231.8 million, primarily due to higher freight costs[80] - Cost of inventory recognized as expenses was HK$8,074,479 thousand in 2022, compared to HK$8,262,111 thousand in 2021[48] - Depreciation of property, plant, and equipment increased to HK$789,291 thousand in 2022 from HK$647,670 thousand in 2021[48] - The company acquired property, plant, and equipment worth HK$338,257 thousand in 2022, down from HK$413,471 thousand in 2021[52] - Fair value loss on listed equity securities was HK$1,110 thousand in 2022, compared to HK$3,580 thousand in 2021[53] Dividends and Share Repurchases - The company declared an interim dividend of HK$0.05 per share for 2022, the same as in 2021[49] - The company declared an interim dividend of 5 HK cents per ordinary share, payable on December 1, 2022, to shareholders on the register as of September 20, 2022[92] - The company repurchased and canceled shares worth HKD 11,220K, reducing the issued and fully paid share capital to HKD 3,278,009,398K as of June 30, 2022[64] - As of June 30, 2022, the company repurchased a total of 11.22 million ordinary shares with a nominal value of HKD 0.02 each for a total consideration of HKD 25.75956 million (before expenses), with 5.944 million shares canceled during the period and the remaining 5.276 million shares canceled on July 25, 2022[103] Subsidiaries and Investments - The company's four Chinese subsidiaries are approved as high-tech enterprises, enjoying a reduced corporate income tax rate of 15% for three years starting from 2020 or 2021[47] - The company holds a 7.1% equity interest in Truly (Renshou) High-End Display Technology Co., Ltd., which is accounted for using the equity method[82] - Acquired approximately 16.77% equity in Truly Huizhou for RMB 450 million (approximately HKD 550.35 million), with RMB 50 million (approximately HKD 61.15 million) settled in 2021 and the remaining RMB 400 million (approximately HKD 489.2 million) to be settled in two installments in 2022[87] - Truly Huizhou became an indirect non-wholly owned subsidiary, with the company holding approximately 76.5% equity and an independent third party holding approximately 23.5% equity[87] - The company is in discussions to potentially acquire additional equity in Truly Renshou from Renshou Ji'an No. 1 Limited Partnership[88] - As of June 30, 2022, the company had HKD 475.788 million in borrowings secured by buildings with a face value of HKD 564.078 million in Truly Huizhou[90] - Sales to associated company Truly (Renshou) High-End Display Technology Co., Ltd. increased to HKD 296K (unaudited) for the six months ended June 30, 2022, from HKD 5,509K (unaudited) in the same period last year[67] Employee and Capital Expenditure - The company employs approximately 16,200 workers and employees in its factories in China and about 100 employees in its Hong Kong office, with total employee costs of approximately HKD 1.071 billion[91] - Short-term employee benefits for directors and key management personnel increased to HKD 8,835K (unaudited) for the six months ended June 30, 2022, from HKD 7,749K (unaudited) in the same period last year[68] - As of June 30, 2022, the company had committed but unprovided capital expenditure for the acquisition of property, plant, and equipment of approximately HKD 218 million[91] - Capital commitments for the acquisition of property, plant, and equipment decreased to HKD 217,672K (unaudited) as of June 30, 2022, from HKD 308,121K (audited) as of December 31, 2021[65] Financial Assets and Liabilities - The fair value of financial assets measured at fair value through profit or loss decreased to HKD 3,423K (unaudited) as of June 30, 2022, from HKD 4,533K (audited) as of December 31, 2021[70] - The company reported no significant contingent liabilities as of June 30, 2022[71] Corporate Governance and Shareholding - The roles of Chairman and CEO are not separated, both held by Mr. Lam Wai Wah, to enhance efficiency and effectiveness in business strategy and execution[107] - The Chairman did not attend the Annual General Meeting on May 26, 2022, due to being stationed at the company's Shanwei factory since February 2020[108] - Independent non-executive directors Mr. Lai Cho Ting and Mr. Heung Kai Shing did not attend the Annual General Meeting on May 26, 2022, due to prior business commitments[109] - The company disclosed the tenure of all independent non-executive directors in a supplementary announcement on April 26, 2022, after initially misunderstanding the disclosure requirements[110] - The company's largest shareholder, Lin Weihua, beneficially owns 1,441,852,000 ordinary shares, representing 43.91% of the issued share capital, and is deemed to own an additional 74,844,000 shares held by his spouse, totaling 46.19%[93] - No purchase, redemption, or sale of any listed securities by the company or its subsidiaries during the six months ended June 30, 2022[104] - The company's audit committee reviewed the unaudited interim condensed consolidated financial statements and confirmed compliance with applicable accounting standards[106] Other Information - No significant events affecting the group occurred between June 30, 2022, and the date of the report[111] - The 2023 interim report was published on the HKEXnews website and the company's website[112]

Financial Performance - The company's unaudited revenue for the three months ended March 31, 2022, was approximately HKD 5.34 billion, an increase of about 0.3% compared to HKD 5.33 billion in the same period last year [2]. - The gross profit for the same period was HKD 571 million, representing a decrease of 6.0% from HKD 608 million in the previous year, resulting in a gross margin of approximately 10.7% compared to 11.4% last year [5]. - The profit attributable to the company's owners for the period was HKD 315 million, an increase of 19.9% from HKD 263 million in the same period last year [2]. - Basic earnings per share for the period were HKD 0.0958, up 19.9% from HKD 0.0799 in the previous year [5]. - The total comprehensive income for the period attributable to the company's owners was HKD 479 million, compared to HKD 244 million in the previous year [5]. - The company’s net profit margin for the period was approximately 5.9%, compared to 4.9% in the same period last year [5]. Government Support - The company recorded government subsidies of approximately HKD 84 million during the period, compared to about HKD 3 million in the same period last year [5]. Dividends - The company did not recommend the payment of an interim dividend for the three months ended March 31, 2022, as the unaudited results may not reflect the performance for the six months ending June 30, 2022, and the full year ending December 31, 2022 [7]. Expenses - The company’s administrative expenses increased slightly to HKD 234 million from HKD 231 million in the previous year [3]. Foreign Exchange - The company reported a foreign exchange gain of HKD 166 million for the period, compared to a loss of HKD 26 million in the previous year [4].

Financial Performance - Revenue for the year ended December 31, 2021, was HK$22,543,455, representing a 1.7% increase from HK$22,171,710 in 2020[5] - Gross profit increased by 27.5% to HK$2,612,976 compared to HK$2,048,801 in the previous year[5] - Profit for the year attributable to owners of the Company surged by 174.3% to HK$1,377,998 from HK$502,287 in 2020[5] - EBITDA for 2021 was HK$3,340,140, reflecting a 34.6% increase from HK$2,481,149 in 2020[5] - Basic earnings per share (EPS) rose to 41.89 HK cents, up 174.3% from 15.27 HK cents in 2020[5] - The Group's revenue for 2021 was HK$22.54 billion, representing an increase of approximately 1.7% compared to 2020[17] - Profit attributable to owners of the Company rose by approximately 174.3% to HK$1,378 million in 2021 compared to 2020[17] - Revenue for 2021 increased by 1.7% to approximately HK$22.54 billion, driven by a 16% growth in non-smartphone related products, offsetting a 9% decline in smartphone related products[26] - Gross profit margin improved to approximately 11.6% in 2021 from 9.2% in 2020, while net profit margin increased to 6.1% from 2.3%[28] Dividends - The final dividend proposed is 5 HK cents per share, compared to nil in 2020, pending shareholder approval[6] - The total dividend payout ratio for the year was about 24%, with a final dividend of 5 HK cents per share recommended for the year ended December 31, 2021[95] - The interim dividends in aggregate of 5 HK cents per share were paid in 2021, based on 3,289,229,398 ordinary shares in issue[95] - The directors recommend a final dividend of HK5 cents per share, amounting to approximately HK$164,461,000, based on the number of ordinary shares in issue[110] Revenue Breakdown - In 2021, 76% of revenue came from LCD products, while electronic consumer products accounted for 24%[10] - The geographical revenue breakdown shows that 73% of turnover was from China, with South Korea at 4% and Europe at 4%[9] - The LCD business, including touch products, accounted for about 76% of total revenue in 2021, up from 64% in 2020[29] - External sales of LCD products were approximately HK$17.18 billion, while electronic consumer products generated about HK$5.36 billion in revenue[40] Acquisitions and Investments - The Group increased its equity interest in Truly Opto-Electronics Limited from 78.8% to 98.9%, enhancing its manufacturing capabilities in touch panel products[18] - The Group acquired additional equity interests in Truly (Huizhou) Smart Display Limited, increasing ownership from 59.7% to 76.5%, with positive operational performance expected[20] - The Group acquired approximately 16.77% interest in Truly Huizhou for RMB450 million (approximately HK$550.35 million), which has been accounted for as a business acquisition[58] - The acquisition of approximately 16.77% equity in Truly Huizhou was completed for RMB 450 million (approximately HK$ 550.35 million), making it an indirect non-wholly owned subsidiary[62] - The Group acquired an additional 20.1% equity interest in Truly Opto for approximately RMB606.46 million (approximately HK$752.13 million), increasing its effective interest from 78.8% to 98.9%[83] Assets and Liabilities - The total assets of the Group increased to HK$29.73 billion in 2021, up from HK$26.54 billion in 2020[13] - The net assets of the Group reached HK$11.66 billion in 2021, compared to HK$10.48 billion in 2020[13] - The total liabilities of the Group were HK$18.07 billion in 2021, an increase from HK$16.06 billion in 2020[13] - As of December 31, 2021, the outstanding net borrowings were approximately HK$5,136 million, reflecting a 4.6% increase or HK$227 million compared to December 31, 2020[77] - The Group's net current liabilities as of December 31, 2021, were approximately HK$5,938 million, up from approximately HK$3,303 million as of December 31, 2020, resulting in a current ratio decrease from 0.77 to 0.65[78] Management and Future Outlook - The management remains optimistic about future growth driven by market expansion and new product development initiatives[10] - The management remains confident in achieving performance improvement in 2022 through continued investment in human resources and technology[22] - The management is confident that the Group's revenue and profit attributable to the owners of the Company will grow in 2022[49] Corporate Governance - The Board is committed to maintaining high standards of corporate governance and has complied with all applicable code provisions throughout the year, except for a major deviation regarding the roles of the Chairman and Chief Executive[149][150] - The Audit Committee has reviewed the annual results for the year ended December 31, 2021[138] - The Company has established a remuneration policy for directors and senior management, which is reviewed annually[175] - The Board conducted reviews of the effectiveness of the internal control system throughout the year, covering operational, financial, risk management, and compliance controls[189] Research and Development - Research and development expenditure was approximately HK$811 million in 2021, slightly down from HK$876 million in 2020[29] Legal and Compliance - A wholly owned subsidiary faced a legal claim of approximately US$23.9 million (equivalent to approximately HK$186.4 million) for alleged defective goods, which was settled in 2021[93] - The legal proceedings related to the defective goods claim were discontinued upon the approval by the Court of First Instance in July 2021[92]

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 11,031,458, representing a 6.8% increase from HKD 10,332,000 in the same period of 2020[18] - Gross profit increased by 40.1% to HKD 1,321,008 compared to HKD 942,741 in the previous year[18] - Profit attributable to owners of the company surged by 122.0% to HKD 665,473 from HKD 299,708 in the prior period[18] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose by 46.6% to HKD 1,748,911 from HKD 1,192,710 year-on-year[18] - Basic earnings per share increased by 122.1% to HKD 20.23, up from HKD 9.11 in the previous year[18] - Total comprehensive income for the period attributable to owners was HKD 775,597, compared to HKD 145,952 in the same period last year[23] - The company reported a pre-tax profit of HKD 881,463, significantly higher than HKD 415,000 in the previous year[22] - The profit for the period ending June 30, 2021, was HKD 345,478, compared to HKD 253,295 for the same period in 2020, representing a year-over-year increase of approximately 36%[29] - The total comprehensive income for the period was HKD 177,686, a significant recovery from the previous year's comprehensive income of HKD 1,296,697[29] Assets and Liabilities - The company’s non-current assets as of June 30, 2021, were valued at HKD 15,235,479, compared to HKD 15,390,078 at the end of 2020[24] - Cash and cash equivalents, including restricted bank deposits, totaled HKD 1,590,736 as of June 30, 2021[24] - As of June 30, 2021, total assets minus current liabilities amounted to HKD 12,665,597, an increase from HKD 12,086,958 as of December 31, 2020[25] - The net asset value as of June 30, 2021, was HKD 11,317,184, up from HKD 10,475,386 at the end of 2020, reflecting a growth of approximately 8%[25] - The company's current liabilities decreased to HKD 13,292,017 from HKD 14,450,498, indicating a reduction of about 8%[25] - The total liabilities, including non-current liabilities, were reported at HKD 13,292,017, reflecting a stable financial position[25] - The total amount of receivables as of June 30, 2021, was HKD 3,868,526,000, slightly down from HKD 3,989,094,000 at the end of 2020[61] - The total accounts payable amounted to HKD 7,414,100,000, an increase from HKD 7,364,850,000 as of December 31, 2020[68] - The company’s total liabilities decreased from HKD 7,364,850,000 as of December 31, 2020, to HKD 7,414,100,000 as of June 30, 2021[68] Cash Flow and Investments - Net cash generated from operating activities for the six months ended June 30, 2021, was HKD 1,932,604, compared to HKD 1,223,148 for the same period in 2020, representing a year-over-year increase of 58.1%[34] - The net increase in cash and cash equivalents for the period was HKD 235,997, with cash and cash equivalents at the end of the period totaling HKD 1,291,899, up from HKD 659,717 at the end of June 2020[34] - The company’s total cash flow from investing activities was negative at HKD 324,014, indicating significant investments during the period[34] - The company acquired properties, plants, and equipment totaling HKD 413,471,000 during the period, compared to HKD 205,634,000 in the same period last year[57] - The group’s net borrowings decreased by approximately 28% or HKD 1.383 billion, with outstanding borrowings at approximately HKD 3.526 billion as of June 30, 2021, compared to HKD 4.909 billion at the end of 2020[98] Expenses and Costs - Administrative expenses increased to HKD 195,217 from HKD 157,764, while distribution and selling expenses rose to HKD 225,317 from HKD 205,330[22] - Distribution and selling expenses increased by approximately 9.7% or HKD 20 million to about HKD 225.3 million, primarily due to rising freight costs[89] - The cost of goods sold for the period was HKD 8,262,111,000, up from HKD 8,150,430,000 in the previous year, indicating a rise of approximately 1.37%[51] Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.05 per share, compared to no dividend declared for the same period in 2020[53] - The board declared an interim dividend of HKD 0.05 per share, compared to HKD 0.00 per share in the previous year[105] - As of June 30, 2021, the major shareholder Lin Wei Hua held 1,441,852,000 shares, representing 43.84% of the issued share capital[106] Strategic Outlook - The company plans to continue expanding its product offerings in the electronic consumer products segment, which includes new technology developments[44] - The company maintains a strong outlook for revenue and profit growth in 2021, supported by ongoing communication and collaboration with major domestic and international brand clients[92] - The company has adjusted its business strategy to focus on higher-margin non-smartphone related products, which is expected to improve overall gross margin and profitability[91] Legal and Compliance - The company has a contingent liability of approximately USD 0.239 billion (equivalent to about HKD 1.864 billion) related to a legal claim against a subsidiary, which has been settled through an agreement[19] - The group is awaiting a hearing from the Beijing High Court regarding a civil lawsuit related to its investment in LeEco, with the initial payment of RMB 240 million already made[95] - The audit committee reviewed the interim results for the six months ended June 30, 2021, ensuring compliance with financial reporting and risk management[117] - The company has adhered to the corporate governance code, with the exception of the separation of the roles of Chairman and CEO, which are held by the same individual[118] Employee and Operational Information - As of June 30, 2021, the group had a total employee cost of approximately HKD 953 million, with around 18,200 workers employed in domestic factories and about 100 in the Hong Kong office[101] - The company reported a short-term employee benefit expense of HKD 7,749,000 for the six months ended June 30, 2021, compared to HKD 6,330,000 for the same period in 2020[74]

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]