Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 1,189,829 thousand, a decrease of 12.5% compared to HKD 1,359,457 thousand in 2023[2] - Gross profit dropped to HKD 23,933 thousand, reflecting a significant decline of 61.4% from HKD 61,981 thousand in the previous year[4] - The company reported a loss before tax of HKD (70,395) thousand, which is an improvement of 27.2% compared to HKD (96,712) thousand in the same period last year[4] - Loss attributable to shareholders was HKD (62,159) thousand, a reduction of 34.7% from HKD (95,227) thousand in 2023[6] - Basic and diluted loss per share was HKD (70.89), down 34.8% from HKD (108.68) in the previous year[6] - Total comprehensive income for the six months ended September 30, 2024, was HKD 443,184,000, compared to HKD 690,550,000 for the same period in 2023, representing a decrease of approximately 35.8%[13] - The company reported a total revenue of HKD 87,622,000 for the six months ended September 30, 2024, compared to HKD 199,780,000 for the same period in 2023, marking a decline of about 56.2%[13] - The company incurred total expenses of HKD 199,695,000 for the six months ended September 30, 2024, compared to HKD 274,651,000 for the same period in 2023, which is a decrease of approximately 27.3%[13] - The company reported a loss of HKD (20,906,000) for the six months ended September 30, 2024, compared to a loss of HKD (95,227,000) for the same period in 2023, showing an improvement in loss performance[13] Assets and Liabilities - Total assets decreased to HKD 1,570,637 thousand from HKD 1,869,823 thousand, indicating a decline in overall asset value[10] - Current liabilities amounted to HKD 1,110,006 thousand, down from HKD 1,341,273 thousand, showing a reduction in short-term obligations[10] - The company’s total liabilities decreased from HKD 690,761,600 as of March 31, 2024, to HKD 443,184,000 as of September 30, 2024, indicating a reduction in financial obligations[13] - Trade receivables as of September 30, 2024, amounted to HKD 790,756,000, down from HKD 836,007,000 as of March 31, 2024, representing a decrease of approximately 5.4%[46] - Trade payables of HKD 333,283,000 as of September 30, 2024, a decrease from HKD 735,772,000 as of March 31, 2024, reflecting a reduction of approximately 54.7%[50] Cash Flow and Liquidity - Cash and cash equivalents were reported at HKD 56,759 thousand, down from HKD 68,851 thousand, reflecting a decrease in liquidity[8] - The net cash used in operating activities for the six months ended September 30, 2024, was HKD (199,022,000), compared to HKD (58,595,000) for the same period in 2023, indicating a significant increase in cash outflow[18] - Cash and cash equivalents at the end of the period were HKD 56,759,000, down from HKD 58,000,000 in the previous year, reflecting a decrease of approximately 2.1%[18] - The company’s financing activities resulted in a net cash inflow of HKD 188,426,000 for the six months ended September 30, 2024, compared to a net cash outflow of HKD (194,446,000) in the previous year[18] - The company’s investment activities resulted in a net cash outflow of HKD (320,000) for the six months ended September 30, 2024, compared to HKD (2,159,000) in the same period of 2023[18] Operational Efficiency - The company experienced a notable reduction in administrative expenses, which fell by 24.5% to HKD (68,982) thousand from HKD (91,402) thousand[4] - Employee costs, excluding director remuneration, decreased to HKD 44,017,000 from HKD 54,860,000, reflecting a reduction of about 19.5% year-over-year[42] - The company has reassessed its liabilities as of April 1, 2023, and concluded that the classification of liabilities as current or non-current remains unchanged, indicating no impact on financial position or performance[25] - The company recognized a net foreign exchange loss of HKD 3,316,000, significantly lower than the HKD 15,431,000 loss reported in the previous year, marking a decrease of about 78.5%[42] Market Segments and Revenue Sources - The company operates in three geographical segments: South China, North China, and Taiwan, focusing on the electronic components trade[28] - The industrial segment generated revenue of HKD 314.9 million, an increase of 12.3% year-on-year, driven by the "Made in China 2025" initiative[79] - The automotive electronics segment saw revenue decline by 24.0% to HKD 305.2 million, impacted by inventory buildup of new energy vehicle components[80] - The home appliances segment reported revenue of HKD 211.9 million, down 14.9% due to weak demand in the global consumer electronics market[83] - The distribution segment achieved revenue of HKD 92.3 million, an increase of 15.6%, supported by discounts and promotions to clear inventory[85] - The telecommunications segment's revenue fell 47.4% to HKD 48.6 million, primarily due to weak mobile phone demand[87] Future Outlook and Strategy - The company anticipates growth opportunities in emerging fields such as autonomous driving and robotics, allocating resources accordingly[90] - The company is focusing on high-growth areas such as automotive electrification and new energy appliances, aiming to increase market share and explore potential opportunities in other business segments[111] - The company remains optimistic about the electronic components distribution industry, driven by ongoing global demand for advanced technology and industrial digitalization[111] - The company is investing in research and development, particularly in artificial intelligence and generative AI applications, to enhance capabilities and drive energy demand growth[111] Governance and Compliance - The company has complied with corporate governance codes and has established an audit committee consisting of four independent non-executive directors[124] - The board of directors confirmed compliance with the Singapore Exchange listing manual, section 720(1) [132] - The board consists of two executive directors, one non-executive director, and four independent non-executive directors [132]

Financial Performance - The company recorded a loss attributable to shareholders of HKD 169 million for the fiscal year 2024, compared to a profit of HKD 2.7 million in fiscal year 2023, primarily due to increased inventory provisions of HKD 83.4 million and foreign exchange losses of approximately HKD 14.6 million [3]. - Total revenue decreased by 15% from HKD 3,135.4 million in fiscal year 2023 to HKD 2,664.9 million in fiscal year 2024, reflecting the impact of global economic downturn and weak end-market demand [16]. - For the fiscal year ending March 31, 2024, the company's revenue decreased by 15% to HKD 2,664.9 million compared to the previous year [26]. - The company reported a loss attributable to shareholders of HKD 169.3 million for the fiscal year 2024, a significant decline from a profit of HKD 92.5 million in 2021 [23]. - Basic loss per share for the fiscal year 2024 was HKD (170.00), compared to earnings of HKD 108.54 in 2021 [23]. - The gross profit margin faced pressure due to weak market demand, inventory pressure, and exchange rate fluctuations [26]. - The company's gross profit margin fell sharply from 8.9% in the previous fiscal year to 3.8% in the current fiscal year, primarily due to intensified price competition and inventory provisions [111]. - Overall revenue decreased by 15.0% year-on-year to HKD 2,664.9 million, as all segments reported lower sales compared to the previous year's revenue of HKD 3,135.4 million [118]. Segment Performance - The automotive electronics segment accounted for 29.9% of total sales in fiscal year 2024, an increase of 2.9% year-on-year, despite a 5.7% decline in sales revenue [4]. - The electronic manufacturing services segment's sales amounted to HKD 236.0 million in fiscal year 2024, with a year-on-year decline of 3.7%, but its contribution to total revenue increased from 7.8% to 8.8% [5]. - For the fiscal year ending March 31, 2024, the automotive electronics segment became the largest revenue source for the company, recording sales of HKD 797.4 million, despite a 5.7% decrease compared to the previous fiscal year [76]. - Revenue from the electronic manufacturing services segment decreased by 3.7% year-on-year to HKD 236.0 million, primarily due to trade tensions affecting export markets [105]. - Revenue from the telecommunications segment decreased by 16.1% year-on-year to HKD 170.4 million, driven by reduced consumer demand for smartphones [106]. - The audio-visual segment reported revenue of HKD 157.6 million, a year-on-year decrease of 17.9%, with expectations of ongoing challenges [107]. - The distribution segment's revenue was HKD 182.7 million, down 0.2% year-on-year, impacted by weak demand for consumer electronics [108]. - The lighting segment recorded revenue of HKD 55.2 million, a significant decline of 43.7%, reflecting weak demand in the consumer and commercial lighting markets [109]. - Other segments saw a revenue decline of 39.7% year-on-year to HKD 25.7 million, attributed to decreased demand for personal computers and electronic toys, although AI growth is expected to improve the situation [110]. Strategic Focus and Investments - The company plans to continue investing in the automotive electronics sector to enhance customer engagement and increase market share [4]. - The company will continue to focus resources on sectors with growth potential, particularly in automotive electronics, industrial, and home appliance areas [18]. - The company plans to focus on high-growth industries such as automotive electronics and renewable energy, which will remain key development areas for the fiscal year ending March 31, 2025 [89]. - The company will continue to invest in key customers and suppliers to enhance sales and market share in the automotive electronics segment [76]. - The company aims to align inventory levels with demand to mitigate potential risks and achieve sustainable growth [19]. Financial Position and Assets - The total assets of the company as of March 31, 2024, were HKD 1,869.8 million, a decrease from HKD 2,017.8 million in the previous fiscal year [8]. - The net asset value per share decreased to HKD 573.47 in fiscal year 2024 from HKD 788.10 in fiscal year 2023 [8]. - The net asset liability ratio increased to 99.5% as of March 31, 2024, from 78.6% as of March 31, 2023, primarily due to a decrease in shareholder equity [150]. - Trade receivables increased from HKD 806.0 million in FY2023 to HKD 816.5 million in FY2024, with average credit terms of 30 to 120 days [132]. - Inventory increased from HKD 586.3 million in FY2023 to HKD 707.7 million in FY2024, with inventory turnover days rising from 2.5 months to 3.4 months [133]. - Financing costs rose by 20.2% from HKD 43.8 million in FY2023 to HKD 52.6 million in FY2024, mainly due to increased average effective interest rates [140]. - The group has unutilized bank financing of HKD 489.6 million as of March 31, 2024, compared to HKD 416.6 million as of March 31, 2023 [170]. - The group’s secured bank borrowings amounted to HKD 78.8 million as of March 31, 2024, up from HKD 19.8 million the previous year [171]. Market Challenges and Outlook - The company anticipates challenges in the global semiconductor market and macroeconomic uncertainties in the upcoming fiscal year [26]. - The company's sales in the consumer electronics market have been adversely affected by geopolitical conflicts and a downturn in demand [26]. - The geopolitical tensions and ongoing trade conflicts have created challenges in the business environment, impacting the macroeconomic outlook [175]. - The group expects the current inventory clearance situation among distributors and OEMs to persist throughout the remainder of calendar year 2024, with a positive shift in supply-demand dynamics anticipated in 2025 [151]. Governance and Compliance - The company appointed a new independent non-executive director on August 11, 2023, and subsequently appointed a chief independent director on August 23, 2023 [184]. - The company has a diverse board with members holding qualifications from various professional accounting and legal institutions [184][200]. - The company maintains compliance with the listing rules and has engaged internal auditors for the environmental, social, and governance report [192]. - The environmental, social, and governance report covers the company's operations in Hong Kong and mainland China from April 1, 2023, to March 31, 2024 [192]. - The company ensures the quality of reported data by adhering to GRI standards, emphasizing accuracy, balance, clarity, comparability, completeness, materiality, sustainability, timeliness, and verifiability [194]. Human Resources and Development - As of March 31, 2024, the group employed 325 full-time employees, a decrease from 377 employees as of March 31, 2023, with 23.4% based in Hong Kong, 72.9% in mainland China, and the remainder in Taiwan [155]. - The group has implemented strategies for talent recruitment, retention, and development, including regular training programs and performance-linked compensation [178]. Research and Development - The group has invested in research and development to accumulate expertise in energy efficiency, driven by the growing importance of energy demand due to AI applications [176]. - The group is increasingly focusing on the development of AI, particularly generative AI applications that can be integrated into various devices, believing this will drive energy demand growth [176].

Financial Performance - Total revenue for the year ended March 31, 2024, was HKD 2,664,883, a decrease of 15.0% compared to HKD 3,135,433 in the previous year[3] - Gross profit fell to HKD 100,397, down 64.0% from HKD 278,677 year-on-year[4] - The company reported a loss before tax of HKD 170,004, compared to a profit of HKD 4,343 in the previous year, indicating a significant decline[4] - Basic loss per share was HKD 193.13, a sharp drop from earnings of HKD 3.11 per share in the prior year[5] - For the fiscal year ending March 31, 2024, the company reported a loss of HKD 169,223,000, compared to a profit of HKD 2,716,000 in the previous year[12] - Total comprehensive loss for the year was HKD 188,064,000, which includes other comprehensive losses of HKD 18,841,000[12] - The company reported a significant reduction in cash and cash equivalents at year-end, totaling HKD 68,851,000, down from HKD 317,230,000 at the beginning of the year[15] - The company reported a loss attributable to shareholders of HKD 169.2 million for the fiscal year ending March 31, 2024, compared to a profit of HKD 2.7 million for the previous fiscal year, marking a significant decline in performance[55] - Revenue decreased by 15.0% year-on-year to HKD 2,664.9 million, down from HKD 3,135.4 million in the previous fiscal year, due to weak demand and a high-interest environment[58] Assets and Liabilities - Total assets decreased to HKD 1,869,823 from HKD 2,017,789, reflecting a reduction of 7.3%[7] - Current liabilities increased to HKD 1,341,273, up from HKD 1,292,930, indicating a rise of 3.7%[9] - The company’s equity attributable to owners decreased to HKD 502,486 from HKD 690,550, a decline of 27.3%[9] - The company’s total assets decreased, reflecting a decline in overall financial health, with total equity dropping significantly[12] - The net asset value per share decreased to HKD 573.47 from HKD 788.10 year-on-year[50] - The net asset liability ratio as of March 31, 2024, was 99.5%, up from 78.6% a year earlier, primarily due to a decrease in shareholders' equity resulting from losses recorded in the fiscal year[89] Cash Flow and Financing - Cash and cash equivalents significantly decreased to HKD 68,851 from HKD 317,230, a decline of 78.3%[7] - Financing costs increased by 20.2% to HKD 52,603 from HKD 43,750, indicating rising financial burdens[4] - The financing activities resulted in a net cash outflow of HKD 299,084,000, contrasting with a net inflow of HKD 181,552,000 in the previous year[15] - The company incurred interest expenses of HKD 52,248,000 on bank loans and trust receipts, up from HKD 43,332,000 in the previous year[14] Inventory and Trade Receivables - Inventory levels rose to HKD 707,663, up from HKD 586,266, representing an increase of 20.6%[7] - The company experienced an increase in inventory provisions amounting to HKD 83,389,000, compared to a reversal of provisions of HKD 1,000,000 in the previous year[14] - Trade receivables increased to HKD 836,007,000 in 2024, up 2.9% from HKD 816,752,000 in 2023, with a provision for credit losses of HKD 19,499,000[35] - As of March 31, 2024, the net trade receivables amounted to HKD 816,508,000, representing 44% of the total assets, with HKD 229,202,000 being overdue[127] Segment Performance - The automotive electronics segment generated sales of HKD 797.4 million, making it the largest revenue source for the company, despite a 5.7% decrease compared to the previous year[60] - The industrial segment's revenue dropped by 21.4% to HKD 595.8 million, while the home appliance segment saw a decline of 21.8% to HKD 444.0 million[59] - The electronic manufacturing services segment saw a revenue decline of 3.7% to HKD 236.0 million in FY2024, primarily due to trade tensions affecting export markets[64] - The telecommunications segment's revenue decreased by 16.1% to HKD 170.4 million in FY2024, driven by reduced consumer demand for smartphones[65] - The audio-visual segment generated revenue of HKD 157.6 million in FY2024, reflecting a year-on-year decrease of 17.9% with ongoing challenges expected[66] - The lighting segment's revenue fell by 43.7% to HKD 55.2 million, indicating weak demand in consumer and commercial lighting markets[68] Corporate Governance and Compliance - The company has complied with the corporate governance codes of Hong Kong and Singapore, ensuring adherence to high standards of corporate governance practices[102] - The audit committee, composed entirely of independent non-executive directors, has reviewed the group's audited annual results for the fiscal year ending March 31, 2024[107] - The auditor's report is addressed to all shareholders and is not intended for any other purpose[136] Future Outlook and Strategy - The group plans to focus on high-growth sectors such as automotive electronics and new energy, which will remain key development areas through the fiscal year ending March 31, 2025[91] - The group is investing in research and development of generative AI applications, anticipating that the increasing prevalence of AI will drive energy demand growth[92] - The company plans to continue supporting key customers and suppliers in the automotive electronics sector to enhance sales and market share despite current challenges[60] Dividends and Shareholder Returns - The company did not declare a final dividend for the fiscal year ending March 31, 2024, following a special dividend of HKD 0.40 per share in the previous year[47] - The board does not recommend a final dividend for the fiscal year ending March 31, 2024, aiming to retain cash for business operations and future growth[95] - The company did not declare any dividends for the fiscal year ending March 31, 2024, compared to HKD 63,964,000 in dividends declared for the previous year[115]

智通财经APP获悉，威雅利(00854)复牌大涨37%，截至发稿，涨37.1%，报3.03港元，成交额474.11万港元。 消息面上，威雅利公布，持股21.24%主要股东香港雅创台信电子提出自愿有条件现金收购要约，旨在获得公司之控股权作长期投资，每股现金价3.3港元，较停牌前收报溢价49.32%。据悉，香港雅创台信电子由上海雅创最终实益全资拥有，上海雅创主要从事汽车、工业及电力业务，尤其是主要于中国汽车行业的电子元件分销及电源管理集成电路设计业务。 ...

Financial Performance - For the six months ended September 30, 2023, the company reported a revenue of HKD 1,359.5 million, a decrease of 23.7% compared to HKD 1,782.8 million for the same period in 2022[7]. - The gross profit for the same period was HKD 61.98 million, down 63.5% from HKD 169.97 million year-on-year[7]. - The company recorded a loss attributable to shareholders of HKD 95.23 million, compared to a profit of HKD 12.83 million in the previous year, indicating a significant downturn[10]. - The adjusted gross margin for the first half of the fiscal year 2024 was 7.3%, a decline of 2.2% from the previous year, primarily due to increased product price competition and inventory reduction measures[11]. - The company reported a loss before tax of HKD 96,712 thousand, compared to a profit of HKD 16,558 thousand in the previous year[90]. - The net loss for the period was HKD 95,264 thousand, a significant decline from a profit of HKD 12,821 thousand in the prior year[90]. - The company reported a basic loss per share of HKD 108.68, compared to earnings of HKD 14.78 per share in the same period last year[90]. - The company reported a net loss of HKD 95,227,000 for the six months ended September 30, 2023, compared to a loss of HKD 136,283,000 in the same period last year, representing a 30% improvement[99]. Revenue Breakdown by Segment - Automotive electronics segment revenue decreased by 11.2% to HKD 401.4 million in the first half of FY2024 from HKD 451.8 million in the same period of FY2023[13]. - Industrial segment revenue fell by 39.8% to HKD 280.4 million, significantly impacted by weak export and domestic demand in China[14]. - Home appliances segment revenue decreased by 17.6% to HKD 248.8 million, affected by a sluggish global consumer electronics market and cooling measures in China's real estate sector[15]. - Electronic manufacturing services segment revenue grew by 13.0% to HKD 125.4 million, driven by a major project acquired in the previous fiscal year[18]. - Telecommunications segment revenue declined by 34.2% to HKD 92.4 million due to reduced consumer spending affecting smartphone demand[19]. - Audio-visual segment revenue decreased by 34.9% to HKD 83.7 million, reflecting challenges in the Chinese consumer electronics and export markets[20]. - Distributor segment revenue fell by 17.8% to HKD 79.8 million, influenced by weak demand for consumer electronics[21]. - Lighting segment revenue dropped by 43.7% to HKD 33.4 million, indicating weak demand in consumer and commercial lighting markets[22]. Inventory and Financing - Inventory provisions increased by HKD 37.0 million in the first half of fiscal year 2024, while no provisions were made in the same period of the previous year[11]. - Financing costs increased by HKD 16.8 million due to a rise in the weighted average effective interest rate compared to the previous year[11]. - The group employed 382 full-time employees as of September 30, 2023, an increase from 377 employees as of March 31, 2023[49]. - The group has unutilized bank financing of HKD 273.0 million as of September 30, 2023, down from HKD 416.6 million as of March 31, 2023[40]. - The group reported cash used in investing activities of HKD 2,159,000 for the six months ended September 30, 2023, compared to HKD 2,512,000 in the previous year[99]. Corporate Governance and Compliance - The board of directors believes that the company has complied with all corporate governance codes as of September 30, 2023[69]. - The board composition was noted to have discrepancies with Singapore corporate governance codes during specific periods in 2023, but compliance was achieved by increasing the number of independent non-executive directors[70]. - The company has appointed independent non-executive directors to ensure compliance with Hong Kong Listing Rules from August 11, 2023[73]. - All directors confirmed compliance with the Hong Kong Standard Code for the six months ending September 30, 2023[74]. - The Audit Committee, consisting of four independent non-executive directors, reviewed the group's unaudited interim results for the six months ending September 30, 2023[75]. Shareholder Information - As of September 30, 2023, the total shares held by the chairman and non-executive director, Mr. Xie, amount to 18,614,309 shares, representing 21.24% of the total issued shares[57]. - The total issued shares as of September 30, 2023, is 87,622,049 shares[57]. - Major shareholders include Shanghai Yachuang, Kunshan Yachuang, and Yachuang Taixin, each holding 18,614,309 shares, which is 21.24% of the total shares[56]. - Mr. Yeo holds a total of 8,410,984 shares, representing 9.60% of the total shares[59]. - Ms. Lim also holds 8,410,984 shares, representing 9.60% of the total shares[59]. Cash Flow and Assets - Operating cash flow decreased by HKD 259.2 million, primarily due to cash outflows from operating activities of HKD 58.6 million and financing activities of HKD 194.4 million[37]. - Cash and cash equivalents decreased significantly to HKD 58,000 thousand from HKD 317,230 thousand, reflecting liquidity challenges[92]. - The company’s total equity as of September 30, 2023, was HKD 574,540,000, a decrease from HKD 690,616,000 as of April 1, 2023[96]. - The company incurred financing costs of HKD 31,644 thousand, which is a substantial increase from HKD 14,806 thousand in the previous year[90]. Impairment and Losses - The company recognized an impairment loss of HKD 8,388,000 under the expected credit loss model during the period[122]. - The group recognized a net impairment loss of HKD 9,568,000 on trade receivables for the six months ended September 30, 2023, with no impairment loss recorded in the same period of 2022[147].

香港交易及結算所有限公司、香港聯合交易所有限公司及新加坡證券交易所有限 公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確 表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 新加坡證券交易所有限公司概不對本公告內作出的任何陳述、載列的任何報告或 發表的任何意見的正確性承擔任何責任。 WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED 威雅利電子（集團）有限公司 （於百慕達註冊成立的有限公司） （香港股份代號：854） （新加坡股份代號：BDR） 截至二零二三年九月三十日止六個月 未經審核中期業績公告 財務摘要 截至九月三十日止六個月 二零二三年 二零二二年 變動 千港元 千港元 % （未經審核）（未經審核） 收益 1,359,457 1,782,845 –23.7 毛利 61,981 169,974 –63.5 ...

Financial Performance - For the fiscal year ending March 31, 2023, the total revenue was HKD 3,175.3 million, a decrease from HKD 3,557.9 million in the previous year[8]. - The net profit attributable to shareholders for the fiscal year was HKD 82.2 million, compared to a profit of HKD 92.5 million in the previous year, reflecting a decline of approximately 14.1%[8]. - The basic earnings per share for the fiscal year was HKD 1.08, down from HKD 1.40 in the previous year, indicating a decrease of about 22.9%[10]. - The company's gross profit for fiscal year 2023 was HKD 278.7 million, down from HKD 334.8 million in fiscal year 2022[18]. - The company reported a profit attributable to shareholders of HKD 2.7 million for FY2023, a significant decrease from HKD 82.2 million in FY2022, mainly due to sales decline and increased financing costs[41]. - The company's financing costs increased to HKD 43.8 million in fiscal year 2023, compared to HKD 17.3 million in fiscal year 2022, due to rising interest rates[18]. - The gross profit margin fell from 9.8% in FY2022 to 8.9% in FY2023, primarily due to weakened demand for semiconductor chips and intensified competition among suppliers[56]. Revenue Breakdown - The revenue breakdown by industry application for the fiscal year 2023 shows that lighting accounted for 21%, telecommunications 19%, and industrial applications 29%[17]. - The automotive electronics segment became the largest revenue source for the company in FY2023, generating HKD 845.2 million, an increase of 18.9% year-on-year, contributing approximately 27.0% to total revenue, up from 20.7% in FY2022[29]. - The electronic manufacturing services segment recorded a significant growth of 50.2%, with sales reaching HKD 245.1 million, increasing its contribution to total revenue from 4.8% in FY2022 to 7.8% in FY2023[29]. - The industrial segment experienced a revenue decline of 25.0%, falling to HKD 758.2 million from HKD 1,010.4 million in FY2022[43]. - The home appliance segment's revenue decreased by 14.0%, from HKD 660.8 million in FY2022 to HKD 568.0 million in FY2023[43]. - The telecommunications segment's revenue decreased by 5.0% year-on-year to HKD 203.2 million, despite strong demand for optical image stabilization (OIS) in smartphone camera components[51]. - The audio-visual segment's revenue was HKD 191.9 million, a decrease of 19.7% year-on-year, with expectations of continued weak demand for consumer electronics due to high interest rates and inflation[52]. - The lighting segment recorded revenue of HKD 98.0 million, down 17.5% year-on-year, with a focus on increasing marketing efforts for commercial lighting applications[54]. Market Conditions and Challenges - The company anticipates continued challenges in the consumer electronics market due to inflation and high interest rates affecting domestic demand and exports[27]. - The geopolitical tensions in Eastern Europe and between the US and China are expected to keep energy and raw material prices high and volatile, impacting economic activity[32]. - The group anticipates challenges in the next 12 months due to geopolitical tensions and inflationary pressures affecting consumer confidence and demand for electronic products[80]. Strategic Focus and Growth Areas - The company is focusing on expanding its market presence in Taiwan to capitalize on opportunities from large Taiwanese electronics manufacturers operating in mainland China[2]. - The company plans to continue investing resources in growth potential areas, particularly in sectors emphasized by the Chinese government, such as industrial, home appliances, and automotive electronics[30]. - The company remains optimistic about the automotive electronics segment due to government support for carbon neutrality and the increasing popularity of electric vehicles[29]. - The company aims to expand its product offerings in clean energy and low-carbon solutions, particularly in the automotive electronics and industrial sectors, in response to consumer trends and favorable sustainable development policies in China[120]. Corporate Governance and Management - The company is committed to corporate governance, with multiple committees in place, including audit, nomination, and remuneration committees[94]. - The company has a strong board with independent non-executive directors, including Lin Liming, who will retire on July 28, 2023, and will not seek re-election[94]. - The company has established a dedicated Environmental, Social, and Governance (ESG) team to systematically plan and implement sustainability strategies across departments and subsidiaries[150]. - The board of directors conducts annual meetings to assess significant ESG-related matters, identify climate change risks and opportunities, and review ESG performance and goals[150]. - The company has implemented a nomination policy and board diversity policy to enhance governance and sustainability, aiming for a balanced board in terms of skills, experience, and perspectives[160]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report highlights the company's commitment to sustainability, adhering to global standards and frameworks for reporting[105]. - The company aims to integrate sustainability into its business strategy and operations, providing reliable information to stakeholders[105]. - The company has engaged internal auditors to review the ESG report, ensuring compliance with regulatory requirements[106]. - The company has identified 41 economic, environmental, and social-related ESG areas relevant to its operations[129]. - The company is committed to attracting and retaining talent, providing comprehensive training programs, and ensuring clear career development paths for employees[174]. Employee and Operational Insights - The group employs 377 full-time employees, a 5% increase from 359 employees a year earlier, with 30.8% based in Hong Kong and 65.9% in China[83]. - The company has a comprehensive training program to cultivate talent, emphasizing employee safety and effective pandemic response measures[121]. - The company actively promotes employee training and development, linking performance to rewards and providing clear career advancement opportunities[165]. Sustainability and Environmental Impact - The company generated 427.76 tons of greenhouse gas emissions during the reporting period, with a density of 1.47 tons of CO2 equivalent per employee, a 3% reduction compared to the previous year[182]. - The company reduced its nitrogen oxides (NOx) emissions to 5.01 kg from 6.63 kg in the previous year, and sulfur oxides (SOx) emissions to 0.17 kg from 0.18 kg[180]. - The total amount of non-hazardous waste generated was 11.82 tons, with a waste generation density of 0.04 tons per employee, a 19% decrease compared to the previous reporting period[190]. - The company has set a goal to replace traditional lighting with LED lighting in its Shanghai office by the end of the next fiscal year to further reduce energy consumption[178]. - The company emphasizes the importance of maintaining long-term relationships with suppliers and customers to enhance value sharing and continuous improvement[174].

香港交易及結算所有限公司、香港聯合交易所有限公司及新加坡證券交易所有限 公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確 表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 新加坡證券交易所有限公司概不對本公告內作出的任何陳述、載列的任何報告或 發表的任何意見的正確性承擔任何責任。 WILLAS-ARRAY ELECTRONICS (HOLDINGS) LIMITED 威雅利電子（集團）有限公司 （於百慕達註冊成立的有限公司） （香港股份代號：854） （新加坡股份代號：BDR） 截至二零二三年三月三十一日止年度 全年業績公告 財務摘要 截至三月三十一日 止年度 二零二三年 二零二二年 變動 千港元 千港元 % 收益 3,135,433 3,425,832 -8.5 毛利 278,677 334,790 -16.8 ...

Financial Performance - For the six months ended September 30, 2022, the company reported a revenue of HKD 1,782.8 million, a slight decrease of 0.2% compared to HKD 1,785.9 million in the same period last year[21]. - The gross profit for the same period was HKD 169.97 million, down 0.6% from HKD 171.05 million year-on-year[21]. - Profit attributable to the company's owners was HKD 12.83 million, a significant decline of 70.5% from HKD 43.53 million in the previous year[21]. - The gross profit margin slightly narrowed from 9.6% in the first half of FY2022 to 9.5% in the first half of FY2023[39]. - Total comprehensive income for the period was a loss of HKD 27,024 thousand, compared to a gain of HKD 47,842 thousand in the previous year[104]. - Basic earnings per share decreased to HKD 14.78 from HKD 51.09, a decline of 71.0%[104]. - The pre-tax profit for the period was HKD 16,558, down from HKD 55,447 in the same period last year, indicating a significant decline[138]. - The net profit for the period was HKD 12,821 thousand, significantly down from HKD 43,534 thousand in the previous year, indicating a decline of 70.5%[104]. Revenue Breakdown by Segment - The industrial segment generated revenue of HKD 465.93 million, a decrease of 15.9% compared to the previous year's HKD 553.72 million[26]. - The automotive electronics segment saw revenue rise to HKD 451.81 million, up 28.8% from HKD 350.82 million year-on-year[26]. - The home appliances segment recorded sales of HKD 301.9 million, a decrease of 14.4% compared to the same period last year, impacted by weak global consumer electronics demand and domestic market cooling due to real estate measures[30]. - The telecommunications segment's revenue grew by 38.0% year-on-year to HKD 140.5 million, accounting for 7.9% of total revenue, primarily due to increased demand for optical image stabilization (OIS) features in smartphone camera components[31]. - The audio-visual segment's revenue was HKD 128.5 million, up 6.9% year-on-year, driven by home entertainment and conferencing equipment, although future demand is expected to be challenging[34]. - The electronic manufacturing services segment's revenue increased by 43.0% year-on-year to HKD 110.9 million, supported by a new project acquired in the first half of FY2023[35]. - The distributor segment's revenue decreased by 18.4% year-on-year to HKD 97.0 million, affected by weak demand for consumer electronics[36]. - The lighting segment's revenue fell by 2.6% year-on-year to HKD 59.4 million, with a focus shift towards commercial lighting applications[37]. - Other segments saw a revenue decline of 45.6% year-on-year to HKD 26.9 million, reflecting decreased demand for personal computers and electronic toys[38]. Cash Flow and Financing - For the six months ended September 30, 2022, the company reported a net cash outflow from operating activities of HKD 136,283,000, compared to a net inflow of HKD 69,961,000 for the same period in 2021[118]. - The company experienced a net cash increase of HKD 44,734,000 in cash and cash equivalents for the period, compared to HKD 181,487,000 in the same period last year[118]. - The company paid dividends amounting to HKD 63,964,000 during the period, significantly higher than HKD 28,118,000 in the previous year[118]. - The company reported a cash outflow of HKD 1,298,563,000 for the repayment of trust receipt loans, compared to HKD 1,264,864,000 in the same period last year[118]. - The cash and cash equivalents at the end of the period stood at HKD 363,170,000, down from HKD 399,405,000 at the end of the previous year[118]. - The company’s financing activities generated a net cash inflow of HKD 183,529,000, compared to HKD 114,165,000 in the same period last year[118]. Debt and Borrowings - As of September 30, 2022, the group had bank borrowings of HKD 176.9 million, with 50.9% denominated in USD and 49.1% in HKD[54]. - The total amount of unsecured trust receipt loans was HKD 677.9 million, with a weighted average effective interest rate of 4.85%[54]. - The weighted average effective interest rate for fixed-rate bank borrowings was 4.49%, while for floating-rate borrowings it was 4.23%[54]. - The net asset to debt ratio increased to 71.8% as of September 30, 2022, up from 37.0% on March 31, 2022, due to increased borrowings and decreased equity[61]. - The group utilized trust receipt loans totaling HKD 1,492,052,000 for settling trade payables during the period, up from HKD 1,360,220,000 in the previous year, reflecting a 9.7% increase[172]. - New bank loans obtained during the interim period amounted to HKD 364,217,000, a decrease from HKD 417,221,000 in the previous year[176]. - The group repaid HKD 311,077,000 in bank loans during the interim period, down from HKD 366,030,000 in the previous year[177]. Corporate Governance and Compliance - The board of directors confirmed compliance with the corporate governance codes of Hong Kong and Singapore for the six months ending September 30, 2022, with some exceptions noted[95]. - The audit committee, composed entirely of independent non-executive directors, reviewed the group's unaudited interim results for the six months ending September 30, 2022[98]. - The company adopted the Hong Kong Standard of Conduct as the code of conduct for securities trading by directors, with all directors confirming compliance for the six months ending September 30, 2022[97]. - The company plans to update its board composition to align with the Singapore corporate governance code, including potential appointments of new independent directors[96]. - The financial statements were prepared in accordance with International Accounting Standard 34, with no significant issues found during the review[103]. - The company has not engaged in any trading of its listed securities during the specified period, maintaining a focus on corporate governance and compliance[94]. Shareholder Information - As of September 30, 2022, the total number of shares held by the chairman and executive director, Mr. Leung, is 21,945,077, representing 25.05% of the total issued shares of 87,622,049[72][75]. - Mr. Leung is deemed to have an interest in 19,909,813 shares held by Max Power Assets Limited, where he is the sole director and shareholder[74][81]. - The family interest of Mr. Leung's wife, Ms. Cheng, includes 805,134 shares, contributing to the total interest of 21,945,077 shares[81]. - The second-largest shareholder, Mr. Kuo, holds 8,722,509 shares, representing approximately 9.95% of the total issued shares[79]. - Global Success International Limited, owned by Mr. Yeo, holds 8,685,109 shares, which is about 9.91% of the total issued shares[79]. - Yeoman Capital Management Pte Ltd holds 7,086,784 shares, representing 8.09% of the total issued shares[79]. Employee Compensation and Share Options - The total compensation for directors and key management personnel for the six months ended September 30, 2022, was HKD 7,606,000, a decrease of 20.5% from HKD 9,566,000 in the previous year[187]. - The Employee Share Option Plan III was adopted on July 30, 2013, to reward eligible employees, including executive directors, for their contributions[88]. - The unexercised stock options under the Employee Stock Option Plan III at the beginning and end of the first half of the fiscal year 2023 amounted to 792,000 and 1,937,000 shares respectively, with an exercise price of HKD 2.61 per share[91]. - During the first half of fiscal year 2023, 1,845,000 shares were exercised at an exercise price of HKD 2.61, while the weighted average closing price prior to the exercise was HKD 4.18 per share[91]. - The number of unexercised share options under the employee share option plan III as of September 30, 2022, was 1,937,000, down from 4,507,000 as of September 30, 2021[183].

Financial Performance - For the fiscal year ending March 31, 2022, the company's revenue was HKD 3,425.8 million, a decrease of 3.7% compared to HKD 3,557.9 million in the previous year[36]. - The gross profit for the same period was HKD 334.8 million, resulting in a gross margin of approximately 9.8%[38]. - Shareholders' profit for the year was HKD 82.2 million, down from HKD 92.5 million in the previous year, representing a decline of 11.4%[48]. - The company reported a basic earnings per share of HKD 96.33, compared to HKD 108.54 in the previous year, reflecting a decrease of 11.4%[49]. - The total assets of the company as of March 31, 2022, were HKD 3,557.9 million, compared to HKD 4,556.4 million in 2020, indicating a significant reduction[20]. - The company's net profit attributable to shareholders fell by 11.1% to HKD 82.2 million, reflecting challenges in meeting customer demand due to semiconductor shortages[63]. - The gross profit margin increased from 9.4% to 9.8%, attributed to the ongoing imbalance in supply and demand for electronic components[75]. - Other income decreased by 71.0% to HKD 2.8 million, mainly due to the absence of non-recurring subsidies from the Hong Kong government in FY2022[93]. Revenue Breakdown - The revenue breakdown by industry application shows that the lighting sector contributed 29% of total revenue, followed by industrial applications at 19%[30]. - The automotive electronics segment achieved a strong revenue growth of 11.7% year-on-year, becoming the second-largest revenue source for the company[64]. - The industrial segment, while still the largest revenue source, experienced a 3.7% decline in sales due to supply chain issues affecting the production of smart consumer electronics[64]. - The home appliance segment's revenue slightly decreased by 0.3% to HKD 660.8 million, impacted by the global semiconductor shortage[84]. - The distribution segment's revenue fell by 16.5% to HKD 218.6 million, despite strong demand, due to prioritization of semiconductor allocation to major growth industries[86]. - Telecommunications segment revenue decreased by 12.5% year-on-year to HKD 213.9 million due to weak global demand for smartphones[87]. - Electronic manufacturing services segment revenue fell significantly by 30.7% year-on-year to HKD 163.2 million, impacted by semiconductor chip allocation to major growth industries amid global component shortages[88]. - Lighting segment revenue declined by 12.7% year-on-year to HKD 118.8 million, affected by global component shortages despite benefiting from home anti-epidemic trends and economic recovery[90]. - Other segments contributed revenue of HKD 90.5 million, an increase of 2.2% year-on-year, with the company monitoring upcoming electronic trends for future growth[91]. Market Presence and Expansion - The company has established a strong network of offices in mainland China, covering major cities such as Beijing, Guangzhou, and Shanghai, to enhance market presence[2]. - Future outlook includes potential market expansion in Taiwan, leveraging partnerships with major electronic manufacturers[2]. - The company is focused on enhancing its product offerings and exploring new technologies to drive growth in the competitive electronics market[2]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share over the next two years[125]. - The company’s market presence includes significant operations in Taiwan, leveraging opportunities from large Taiwanese electronic manufacturers[144]. Challenges and Risks - The semiconductor shortage significantly impacted the company's ability to meet customer demands, leading to production disruptions across various sectors[60]. - The company anticipates a challenging outlook for the next twelve months due to domestic pandemic resurgence and geopolitical tensions affecting consumer sentiment and operational costs[68]. - The group anticipates significant challenges in the next 12 months due to the resurgence of COVID-19 in China and geopolitical tensions, but remains optimistic about necessary support measures to alleviate economic challenges[112]. - The company plans to continue prioritizing supply to industries with the most urgent needs and is actively seeking alternative supply sources to mitigate the impact of shortages[60]. Sustainability and ESG Initiatives - The company emphasizes its commitment to sustainable growth and adapting to market trends to enhance shareholder returns in the coming decade[59]. - The company has identified 41 key ESG topics relevant to its operations, enhancing transparency and stakeholder communication[154]. - The company is focusing on developing low-carbon and energy-efficient products in response to consumer trends and favorable sustainable development policies in China[149]. - A dedicated team has been established to support the implementation of sustainable strategies across departments and subsidiaries[148]. - The company has adopted the globally recognized GRI standards for its 2021/22 ESG report, improving risk management related to sustainability issues[149]. - The company aims to launch more environmentally friendly and innovative solutions to encourage energy conservation and emission reduction[149]. - The total greenhouse gas emissions generated by the company's operations during the reporting period amounted to 433.17 tons of CO2 equivalent, a 13% reduction compared to the previous reporting period[186]. - The company plans to replace traditional lighting with LED lighting in its Shenzhen office by the end of the next fiscal year to further reduce energy consumption[182]. Employee and Operational Management - The group employed 359 full-time employees as of March 31, 2022, with 32.9% in Hong Kong, 63.7% in China, and the remainder in Taiwan[113]. - The company plans to implement a new employee stock option plan to attract and retain top talent in the industry[127]. - Employee training and safety are prioritized, with measures implemented during the COVID-19 pandemic to ensure staff well-being[149]. - The company has established a dedicated working group to support employee training and provide regular feedback[149]. Financial Management and Dividends - The board proposed a special dividend of HKD 0.40 per share and a final dividend of HKD 0.33 per share, totaling HKD 0.73 per share for the fiscal year 2022, compared to HKD 0.33 per share in the previous fiscal year[67]. - The company has maintained a healthy cash flow and inventory management, ensuring robust financial performance despite market challenges[2]. - As of March 31, 2022, the company reported operating cash of HKD 499.4 million, including cash reserves of HKD 327.7 million, an increase from HKD 423.3 million in the previous year[65]. - The net debt-to-equity ratio improved to 37.0% as of March 31, 2022, down from 39.6% a year earlier, indicating a stronger financial position[65].