香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或因倚賴該等內 容而引致之任何損失承擔任何責任。 XINYI GLASS HOLDINGS LIMITED 信 義 玻 璃 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份編號：00868） 截至二零二三年六月三十日止六個月之 中期業績公告 財務摘要 截至六月三十日止六個月 二 零二三年 二 零二二年 變動 百萬港元 百萬港元 收益 12,621.2 13,649.4 -7.5% 本公司股本權益 持有人應佔溢利 2,147.9 3,304.9 -35.0% 每股盈利－基本 52.1港仙 82.1港仙 -36.5% 每股中期股息 26.0港仙 40.0港仙 ...

Financial Performance - The group's revenue for the fiscal year ended December 31, 2022, decreased by approximately 15.5% to HKD 25,746.0 million, while the attributable profit to equity holders dropped significantly by about 55.6% to HKD 5,127.2 million[8]. - Basic earnings per share for 2022 were HKD 1.266, down from HKD 2.870 in the previous year[8]. - The company's revenue decreased by 15.5% to HKD 25,746.0 million in 2022, down from HKD 30,459.1 million in 2021[32]. - Net profit attributable to equity holders dropped by 55.6% to HKD 5,127.2 million in 2022, compared to HKD 11,555.9 million in 2021[32]. - Basic earnings per share fell by 55.9% to HKD 1.266 in 2022[32]. - Gross profit decreased by 44.9% to HKD 8,686.4 million in 2022, with a gross margin decline from 51.8% to 33.7%[41]. - The group's income tax expense for 2022 significantly decreased by 55.7% to HKD 855.8 million, with an effective tax rate of 14.3% due to higher profits from subsidiaries qualifying for a 15% tax rate as high-tech enterprises in China[50]. - The net profit attributable to equity holders for 2022 was HKD 5,127.2 million, a decrease of 55.6% from HKD 11,555.9 million in 2021, resulting in a net profit margin of 19.9%[52]. - The group's current ratio was 1.09, down from 1.89 a year earlier, primarily due to a higher proportion of long-term high-interest bank deposits[53]. - The group's net current assets as of December 31, 2022, were HKD 1,016.0 million, a significant decrease from HKD 9,146.2 million as of December 31, 2021[54]. - Total capital expenditure for the year ended December 31, 2022, was HKD 2,624.4 million, down from HKD 4,042.6 million in 2021, with commitments of HKD 1,378.2 million for future capital projects[56]. - Cash and bank balances as of December 31, 2022, amounted to HKD 8,167.3 million, a decrease from HKD 10,295.1 million in 2021, reflecting a net cash inflow from operating activities of HKD 6,737.3 million[58]. - Bank borrowings as of December 31, 2022, were HKD 13,515.7 million, a decrease of 12.8% from HKD 15,492.7 million a year earlier, with a net debt-to-equity ratio of 16.7%[59]. - The group reported charitable donations of HKD 9,837,000 for the fiscal year, down from HKD 14,963,000 in the previous year[160]. - As of December 31, 2022, the group had distributable reserves of HKD 1,283.0 million, compared to zero in the previous year[163]. - The board intends to maintain a relatively stable dividend payout ratio, considering the group's financial performance and cash flow situation[164]. Market Conditions and Challenges - The average selling price of float glass in the Chinese market declined due to a slowdown in the real estate sector, leading to a decrease in net profit by 55.6%[10]. - The float glass industry in China faced challenges due to high production costs and a decrease in average selling prices, exacerbated by geopolitical tensions affecting energy and raw material prices[10]. - The construction glass segment recorded a slight decline in sales, impacted by the depreciation of the RMB and COVID-19, despite strong demand for energy-efficient low-emission glass[12]. - The business performance is influenced by several risks, including supply-demand imbalances in the float glass market and reliance on continuous supply of energy and raw materials[153]. - The group acknowledges that the demand for construction glass is influenced by real estate and construction industry conditions, which are beyond its control[162]. - The group faces significant adverse impacts on its operating performance and profitability due to foreign exchange risks and other financial risks[156]. - The company relies on the continuous supply of energy and raw materials to meet its production needs, which may be affected by external factors[162]. Strategic Initiatives and Future Outlook - The company is exploring new opportunities in domestic and international markets, focusing on high-value-added products and optimizing production processes[10]. - The company has strategically expanded and acquired more float glass production facilities in China to increase capacity, aligning with national supply-side reform policies[13]. - The company expects a stable outlook for the float glass market in 2023, with lower energy costs and less volatility in soda ash prices compared to 2022[21]. - The company is expanding its operations in Southeast Asia, including establishing a new float glass production facility in Indonesia[25]. - The company is optimistic about the growth prospects in the automotive glass aftermarket and energy-efficient glass sales[22]. - The company continues to invest in R&D for new materials and technologies to enhance product quality and capture new market opportunities[17]. - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[80]. - The company is investing in R&D for innovative technologies, with a budget allocation of $50 million for the upcoming year[81]. - Market expansion efforts include entering two new international markets, expected to contribute an additional $20 million in revenue[82]. - The company is exploring potential acquisitions to enhance its product portfolio, targeting a deal valued at approximately $100 million[83]. - A new product line is set to launch in Q3 2023, anticipated to generate $30 million in sales within the first year[84]. - The company has implemented cost-cutting measures, aiming for a 10% reduction in operational expenses by the end of the fiscal year[85]. Corporate Governance and Management - The company emphasizes the importance of good corporate governance to ensure all business activities and decisions are properly regulated and comply with applicable laws and regulations[90]. - The board believes that the company has adhered to the applicable principles and code provisions of the corporate governance code throughout the year ended December 31, 2022[91]. - The board is responsible for preventing fraud and safeguarding the company's assets while formulating the overall business strategy[93]. - The board consists of four executive directors, four non-executive directors, and four independent non-executive directors, ensuring compliance with the listing rules regarding independent directors[96]. - The chairman and CEO are responsible for managing the board and overseeing the company's daily operations, respectively, with a focus on improving operational and financial performance[99]. - The board held five meetings during the fiscal year ended December 31, 2022, with most directors attending these meetings[102]. - The company has a structured governance framework that includes regular monitoring of risk management and internal control systems to align corporate value with company culture[92]. - The company has established a clear purpose, values, and strategies that align with its culture, promoting a "legal, ethical, and responsible" value system[92]. - The company has a robust management team with extensive industry experience, ensuring effective oversight of various business segments[88][89]. - The company is committed to continuous improvement in corporate governance practices to enhance shareholder value and long-term success[90]. - The board of directors is responsible for formulating the overall strategy and objectives of the group, overseeing operational and financial performance, and reviewing corporate governance standards[103]. - The remuneration committee held one meeting during the year ended December 31, 2022, with all members present, and reviewed the remuneration terms for directors and senior management[108]. - The audit committee conducted three meetings in the year ended December 31, 2022, to review financial performance and compliance procedures, with all members in attendance[111]. - The nomination committee held one meeting during the year ended December 31, 2022, to review the structure and diversity of the board, with full attendance from committee members[112]. - The board consists of 12 male directors and no female directors, with 5 directors aged 41-60 and 7 directors over 60[119]. - The board has adopted a diversity policy to enhance governance and transparency, considering factors such as gender, age, cultural background, and professional experience[116]. - The board's independent opinion mechanism was reviewed and deemed satisfactory for the year ended December 31, 2022[106]. - All directors confirmed compliance with the trading standards set out in the company's securities trading code for the year ended December 31, 2022[107]. - The company has a total of 4 senior management members earning over HKD 14.5 million and 5 members earning between HKD 3 million and HKD 5.5 million for the year ended December 31, 2022[108]. - The board's diversity is considered an important asset for the business, allowing management to benefit from diverse perspectives[119]. - The board currently has no female directors and is planning to improve gender diversity by identifying suitable candidates of another gender to join the board by December 31, 2024[120]. - As of December 31, 2022, the group had 15,068 employees, with male and female employees accounting for 88% and 12% respectively[120]. - The external auditor, PwC, received approximately HKD 3.5 million for auditing services related to the consolidated financial statements for the year[124]. - The board maintains an effective risk management and internal control system to ensure efficient business operations and compliance with applicable laws[125]. - The internal audit team conducts annual reviews of the risk management and internal control systems, with no significant deficiencies found for the year ending December 31, 2022[128]. - The company has established a shareholder communication policy to enhance relationships and communication with shareholders and investors[133]. - The board has reviewed the implementation and effectiveness of the shareholder communication policy, resulting in satisfactory outcomes[133]. - The company encourages directors to participate in training sessions to stay updated on regulatory responsibilities and corporate governance practices[130]. - The company has a dedicated website to provide the public with access to the latest information and news about the group[133]. - The management team is available to meet with shareholders and potential investors to provide updates on the group's business developments[133]. Environmental and Social Responsibility - The company has implemented various environmental measures, including wind and solar energy projects, to reduce fossil fuel consumption and carbon emissions[147]. - The company relies on natural gas as the primary energy source for its glass melting furnaces and utilizes waste heat for power generation[149]. - The company emphasizes maintaining strong relationships with customers, suppliers, and employees, with no significant disputes reported during the fiscal year[150]. - The company is actively exploring green financing to ensure sustainable development and compliance with environmental regulations[147]. Stock Options and Ownership - The group has adopted a share option scheme to provide incentives and rewards to participants who have contributed to the group's business achievements[174]. - A total of 35,000,000 stock options were granted during the year ended December 31, 2022[188]. - The fair value of the stock options granted under the plan was estimated at HKD 4.4005 per option[188]. - As of December 31, 2022, the total number of stock options available for issuance under the plan was 176,365,238, representing 4.29% of the issued share capital[178]. - The maximum number of shares that can be issued to any participant under the stock option plan in any 12-month period is limited to 1% of the issued shares[179]. - The stock option plan is valid for 10 years from January 18, 2015[183]. - The exercise price for the stock options granted was set at HKD 21.80[189]. - The expected term of the stock options is approximately 3 years and 6 months[189]. - The average closing price of the shares prior to the exercise of the options was HKD 19.44[186]. - The total number of stock options granted as of January 1, 2022, was 201,418,072[189]. - The stock options granted during the year may result in a potential issuance of shares equivalent to 0.62% of the weighted average number of shares issued during the year[189]. - The stock option plan aims to recognize and reward contributors to the group's long-term development, with no additional buyback mechanism[192]. - As of December 31, 2022, the company did not grant any stock options to directors or senior management under specific listing rules[193]. - Dr. Li Xianyi holds a total of 744,717,542 shares, representing 18.12% of the company's issued share capital[197]. - Mr. Dong Qingbo holds 273,942,419 shares, accounting for 6.66% of the company's issued share capital[197]. - The company has a diverse ownership structure, with significant stakes held by various controlled corporations and individuals[198]. - The stock options are designed to align the interests of the grantees with those of the company and its shareholders[192]. - The company emphasizes the importance of long-term commitment from its senior management through the stock option plan[192]. - The ownership details of directors and senior management are documented in the annual report, highlighting their significant shareholdings[197]. - The stock option plan is subject to specific terms that may result in forfeiture if grantees cease to be senior management or violate plan rules[192]. - The company continues to focus on sustainable development and good corporate governance through its incentive structures[192].

Financial Performance - Revenue for the six months ended June 30, 2022, increased by 0.5% to HKD 13,649,417,000 compared to the same period in 2021[19]. - Profit attributable to equity holders decreased by 38.5% to HKD 3,304,917,000, with basic earnings per share at HKD 0.821[19][21]. - The company declared an interim dividend of HKD 0.40 per share, down from HKD 0.66 in the same period last year[19]. - Gross profit for the six months ended June 30, 2022, was HKD 5,241,900,000, a decrease of 27.2% from HKD 7,199,000,000 in the previous year, with the gross profit margin dropping to 38.4% from 53.0%[33]. - The net profit attributable to equity holders of the company was HKD 3,304,917, down 38.5% from HKD 5,376,967 in the same period last year[55]. - Basic earnings per share decreased to 82.1 HK cents, down 38.3% from 133.4 HK cents in 2021[55]. - The group reported a strong financial position with cash and bank deposits of HKD 13,616,500,000 and a low net capital debt ratio of 6.58% as of June 30, 2022[25]. Market Conditions - The average selling price of float glass products declined due to weak demand in the Chinese real estate market, impacting profitability[21]. - The group anticipates a cautious optimism regarding the float glass market in the second half of 2022, with expected fluctuations in soda ash prices being less than in 2021 due to increased global supply[27]. - The group expects increased demand for float glass and building glass due to anticipated government policies stimulating domestic consumption and stabilizing the real estate market[27]. - The company faced challenges due to a slowdown in domestic market demand and the impact of the Evergrande debt crisis on the real estate market in China[185]. - The overseas market experienced high inflation rates leading to increased borrowing costs and high international logistics expenses[185]. - Global energy and food prices surged due to the Russia-Ukraine conflict, further suppressing the glass market[185]. Strategic Initiatives - The company focused on high-value and upgraded glass products to improve its product mix and enhance cost control measures[21]. - The automotive glass segment developed new products for advanced driver-assistance systems (ADAS) and other value-added components, preparing for future launches[21][22]. - Strategic expansions and acquisitions were made to enhance production capabilities and consolidate market leadership in China and Malaysia[22]. - The group plans to expand its production capacity in Southeast Asia by establishing a new float glass production facility in Indonesia[27]. - The group is exploring acquisition and expansion opportunities in China and overseas to enhance market coverage and reduce costs[27]. - The group aims to capture new market opportunities by continuously developing new glass products and improving product quality[23]. Cost Management - The company implemented measures to improve performance, including cost control on raw materials and energy efficiency initiatives aligned with national carbon neutrality policies[22]. - Selling and promotional expenses rose by 39.7% to HKD 951,600,000, driven by increased transportation and international freight costs[36]. - Administrative expenses increased by 19.0% to HKD 1,303,300,000, mainly due to higher R&D expenses and bank fees[37]. - Financial costs increased by 78.4% to HKD 124,000,000, attributed to rising bank lending rates and increased borrowing balances[39]. Research and Development - The group has invested in R&D to enhance production efficiency and develop new products, resulting in reduced carbon emissions and overall production costs as of June 30, 2022[23]. - The group is committed to allocating sufficient resources for R&D and product quality enhancement to maintain competitiveness and profitability[28]. - The group is optimistic about the growth potential in the automotive glass aftermarket and the sales growth of energy-saving and low-emissivity glass products[192]. Governance and Compliance - The company has established an audit committee consisting of five independent non-executive directors to oversee financial reporting and internal control systems[145]. - The company confirmed compliance with the corporate governance code as of June 30, 2022[143]. - The report highlights the importance of compliance with the Securities and Futures Ordinance regarding shareholdings[160]. Shareholder Information - The total issued share capital is approximately 4,036,000,000 shares[162]. - Major shareholders include Realbest with 725,209,552 shares, representing 17.97% of the issued share capital[162]. - The company has a diverse ownership with multiple entities registered in the British Virgin Islands[157].

Financial Performance - The group's revenue for the year 2021 increased by approximately 63.6% to HKD 30,459.1 million compared to 2020[9] - The net profit attributable to equity holders from continuing operations surged by about 79.9% to HKD 11,555.9 million, with basic earnings per share rising to HKD 2.87 from HKD 1.60[9] - The gross profit for 2021 was HKD 15,777.1 million, a 103.0% increase from HKD 7,771.4 million in 2020, with a gross margin rising from 41.7% to 51.8%[33] - EBITDA increased by 74.7% to HKD 15,123.2 million, compared to HKD 8,654.9 million in 2020[38] - The compound annual growth rate (CAGR) of sales over the past five years was 19.9%[27] - The total comprehensive income for the year ended December 31, 2021, was HKD 12,641,089 thousand, with a profit of HKD 11,555,887 thousand[194] - The net profit for the year 2021 was HKD 11,570,680 thousand, up from HKD 6,431,259 thousand in 2020, reflecting an increase of about 80.5%[193] Dividends and Shareholder Returns - The company plans to propose a final dividend of HKD 0.76 per share at the upcoming annual general meeting[9] - The total cash dividend for the fiscal year ended December 31, 2021, amounted to approximately HKD 2,668.1 million, with an interim dividend of HKD 0.66 per share paid on September 7, 2021[94] - The company intends to maintain a relatively stable dividend payout ratio as long as it meets daily operational cash needs and retains funds for future development[108] - The company paid dividends to shareholders amounting to HKD 5,180,551 thousand, which is a substantial rise from HKD 1,892,265 thousand, marking an increase of approximately 173.5%[200] Market and Industry Insights - Strong demand in the Chinese float glass industry was noted, driven by high completion rates in the real estate sector, with average selling prices significantly increasing in the first three quarters of 2021[10] - Despite challenges in the construction sector due to financial strains on real estate developers, sales of energy-efficient low-emission glass products saw considerable growth[11] - The Chinese government's restrictions on new float glass capacity approvals contributed to supply limitations, aligning with national carbon neutrality policies[10] - The company is optimistic about the growth potential of its automotive glass aftermarket business globally and the sales growth of energy-saving and low-emissivity glass segments[21] Operational Efficiency and Cost Management - The company implemented strict production cost and energy-saving policies to control costs effectively[10] - The company has strengthened cost control over raw material supply and consumption, leading to improved production efficiency and reduced carbon emissions, waste, and overall production costs[13] - The company streamlined production logistics and adopted effective marketing strategies for its building and automotive glass segments[10] - The company focused on providing high value-added and upgraded glass products, enhancing production capacity in Beihai and Zhangjiagang for float glass[10] Financial Position and Capital Management - As of December 31, 2021, the company reported a strong financial position with bank deposits and cash holdings of HKD 10,295.1 million and a net capital debt ratio of 15.1%[18] - The company reported a total equity of HKD 34,706,524 thousand in 2021, up from HKD 27,973,349 thousand in 2020, indicating an increase of about 24.5%[187] - The company's cash and cash equivalents increased significantly to HKD 9,220,384 thousand in 2021 from HKD 5,244,554 thousand in 2020, representing a growth of approximately 75.5%[190] - The repayment of bank and other borrowings decreased to HKD 5,618,048 thousand from HKD 6,020,503 thousand, showing a reduction of about 6.7%[200] Governance and Management - The company has maintained a strong leadership team with experienced non-executive directors since 2001, contributing to strategic oversight and governance[54] - The independent non-executive directors bring diverse expertise, including legal and financial backgrounds, enhancing the board's effectiveness[55] - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring compliance throughout the year 2021[62] - The board consists of four executive directors, four non-executive directors, and five independent non-executive directors, ensuring a diverse governance structure[63] Environmental and Social Responsibility - The company has established a new department focused on carbon neutrality, which may help improve overall energy cost structure[22] - The company has implemented environmental measures including using natural gas for glass melting and recovering waste heat for power generation[99] - The company has initiated a joint venture in Yunnan with a subsidiary to enhance investments in green and renewable energy, reflecting a commitment to clean energy sources[21] - The company reported a charitable donation of HKD 14,963,000 for the fiscal year, compared to HKD 6,175,000 in the previous year[106] Related Party Transactions - The group engaged in related party transactions, including sales of glass products and machinery, which are classified as continuing connected transactions under the listing rules[151] - The independent non-executive directors have confirmed that the related party transactions are conducted in the ordinary and usual course of business and on normal commercial terms[158] - The company has complied with the disclosure requirements under Chapter 14A of the Listing Rules regarding related party transactions[157] Stock Options and Shareholder Interests - The stock option plan allows for a total number of shares issued not to exceed 10% of the total issued shares as of January 18, 2015[120] - The maximum number of shares that can be issued to any participant under the stock option plan is limited to 1% of the issued shares within any 12-month period without shareholder approval[121] - The company’s directors and senior management held a total of 725,209,552 shares, representing 18.05% of the issued share capital[132] - Major shareholder Realbest holds 725,209,552 shares, representing 18.05% of the issued share capital[141]

商界展開懷 caringcompany **** ong Council of Social Service 香港社會得該都會前位 信義玻璃控股有限公司 XINYI GLASS HOLDINGS LIMITED Since 1988 〔於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) 股份代號 : 00868 hk 2021 DODD PES 目錄 財務摘要 2 主席報告 3 管理層討論及分析 11 簡明綜合資產負債表 17 簡明綜合收益表 20 簡明綜合全面收益表 21 簡明綜合權益變動表 22 簡明綜合現金流量表 24 簡明綜合財務資料附註 26 企業管治及集團之其他資料 64 公司資料 75 1 信義玻璃控股有限公司 I 二零二一年中期報告 財務摘要 截至 | --- | --- | --- | --- | |------------------------------------------|----------------|------------------------|----------------------------| | | | 截至六月三十日止六個月 | 十二月 \n三十一 ...

Financial Performance - The company's revenue for the fiscal year 2020 increased by approximately 14.5% to HKD 18,615.9 million compared to 2019[7]. - The net profit attributable to equity holders from continuing operations surged by about 43.4% to HKD 6,422.2 million, with basic earnings per share rising to HKD 1.595 from HKD 1.118[7]. - The gross profit for 2020 was HKD 7,771.4 million, up 32.1% from HKD 5,883.3 million in 2019, with a gross margin increase from 36.2% to 41.7%[26]. - The compound annual growth rate (CAGR) of sales over the past five years was 9.7%[21]. - The total comprehensive income for the year was HKD 8,777,046, up from HKD 3,885,324 in 2019, reflecting a growth of 125.5%[159]. - The company reported a net profit of HKD 4,477,792 thousand for the year, compared to HKD 4,482,679 thousand in the previous year, indicating a slight decrease[162]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.62 per share to shareholders at the upcoming annual general meeting[7]. - The total cash dividend for the fiscal year ended December 31, 2020, amounted to approximately HKD 685.9 million, with an interim dividend of HKD 0.17 per share paid on September 1, 2020[89]. - The board proposed a final dividend of HKD 0.62 per share, subject to shareholder approval at the annual general meeting, to be paid on or around July 6, 2021[89]. Market and Operational Insights - The demand for glass products, particularly in the construction sector, showed stable growth despite some delays due to COVID-19, with a recovery in operations for most projects that were paused[8]. - The average selling price of float glass significantly rebounded post-COVID-19, reflecting strong market demand, particularly in May[9]. - The company began supplying ultra-clear float glass for solar panel back glass starting from the fourth quarter of 2020 to meet the rising market demand[9]. - The company expanded its production capacity for float glass in Beihai and Zhangjiagang, enhancing its product mix and operational efficiency[8]. - The group implemented proactive marketing and production strategies to achieve moderate sales growth despite the adverse effects of COVID-19 and increased import tariffs, maintaining real-time communication with overseas customers[10]. Financial Position and Assets - As of December 31, 2020, the group's current ratio was 1.49, up from 1.22 as of December 31, 2019[34]. - The net current assets as of December 31, 2020, amounted to HKD 4,246.4 million, an increase from HKD 1,883.6 million in 2019[34]. - Total assets increased to HKD 45,071,089 thousand in 2020, up from HKD 36,254,298 thousand in 2019, representing a growth of approximately 24%[155]. - Total equity increased to HKD 27,973,349 thousand in 2020, compared to HKD 20,927,426 thousand in 2019, representing a growth of around 33%[155]. Corporate Governance - The company has maintained a strong leadership team with non-executive directors who have extensive experience in the automotive parts industry and arbitration[48][49][51][53][54][55]. - The board includes members with significant qualifications, such as a member of the International Chamber of Commerce and various arbitration institutions, enhancing the company's governance[49][52]. - The company has adopted the corporate governance code as per the listing rules and has complied with its principles throughout the year ending December 31, 2020[61]. - The company emphasizes the importance of good corporate governance to regulate all business activities and decision-making[61]. Environmental and Social Responsibility - The company has implemented environmental measures, including using natural gas as the main energy source for glass melting furnaces and utilizing waste heat for power generation[94]. - The company has established a wind power project in Anhui Province and several small solar power projects to reduce fossil fuel consumption and improve air quality[94]. - The company reported a charitable donation of HKD 6,175,000 for the fiscal year, a significant increase from HKD 843,000 in the previous year[99]. - The company is preparing its Environmental, Social, and Governance (ESG) report for the fiscal year ended December 31, 2020, to be published on the Hong Kong Stock Exchange website[94]. Risks and Challenges - The company faces risks related to the supply and demand levels of float glass, which are influenced by the construction and building materials industry and macroeconomic factors[96]. - The company is subject to various financial risks, including foreign exchange risk, which may significantly impact its operational performance and profitability[98]. - The company’s performance is influenced by external factors such as real estate and financial policies in China, which affect the demand for construction glass[98]. Employee and Workforce - The group has a total of 14,334 full-time employees, with 13,526 based in China and 808 in Hong Kong and other regions[39]. - The company has maintained a commitment to transparency and investor relations strategies[59]. Share Options and Equity - The company has adopted a new share option scheme to provide flexibility in offering incentives and rewards to participants[108]. - The total number of shares to be issued under the share option plan and any other share option plans of the company shall not exceed 10% of the total issued shares as of January 18, 2015[110]. - A total of 23,718,000 share options were granted to employees in March 2011, with an exercise price of HKD 4.00 per share[116]. Financial Reporting and Compliance - The consolidated financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the Companies Ordinance, Chapter 622[168]. - The financial statements reflect the group's financial position and performance accurately as of December 31, 2020, in accordance with Hong Kong Financial Reporting Standards[145]. - The company has complied with the disclosure requirements under the Hong Kong Companies Ordinance[145].