Financial Performance - For the fiscal year ending March 31, 2024, the company reported total revenue of HKD 23,989,000, an increase of 10.5% from HKD 21,704,000 in the previous year[3] - The cost of sales and services rose to HKD 19,115,000, up from HKD 15,335,000, resulting in a gross profit of HKD 4,874,000, down 23.4% from HKD 6,369,000[3] - Other income and gains significantly increased to HKD 13,338,000 from HKD 2,988,000, marking a growth of 346.5%[3] - The company reported a loss from continuing operations of HKD 59,359,000, compared to a loss of HKD 36,826,000 in the previous year, representing a 61.0% increase in losses[3] - The total comprehensive loss for the year was HKD 68,499,000, compared to HKD 46,190,000 in the previous year, indicating a 48.3% increase in comprehensive losses[5] - The company reported a basic loss per share of HKD 6.80 for continuing operations, compared to HKD 4.22 in the previous year, indicating a 61.0% increase in loss per share[4] - The group reported a net loss of approximately HKD 59,359,000 for the year ending March 31, 2024, compared to a net loss of HKD 45,668,000 for the previous year[13] - The company reported a pre-tax loss of HKD 59,359,000 for the year ended March 31, 2024, compared to a pre-tax loss of HKD 36,826,000 for the previous year, indicating a deterioration in financial performance[35] Assets and Liabilities - The company's net assets decreased to HKD 17,903,000 from HKD 86,402,000, reflecting a decline of 79.2%[8] - Current liabilities increased to HKD 72,784,000 from HKD 60,292,000, representing a rise of 20.5%[7] - As of March 31, 2024, current liabilities exceeded current assets by approximately HKD 35,072,000[13] - Total assets as of March 31, 2024, amounted to HKD 91,820,000, a decrease from HKD 148,350,000 reported in the previous year[35] - The company reported a total liability of HKD 73,917,000 as of March 31, 2024, compared to HKD 61,948,000 in the previous year, indicating an increase in financial obligations[35] - The total borrowings of the group as of March 31, 2024, were HKD 13,100,000, compared to zero in 2023, resulting in a debt-to-asset ratio of 14.3%[83] - Current liabilities exceeded current assets by HKD 35,100,000 as of March 31, 2024, an increase from HKD 2,800,000 in 2023[83] Operational Changes - The company has ceased operations in its previous business segment after selling its subsidiary, which primarily engaged in the manufacturing and trading of eyewear[11] - The group is implementing various measures, including optimizing its sales network and effective cost control, to improve profitability and operating cash flow[13] - The company plans to continue focusing on market expansion and new product development to enhance revenue streams in the upcoming fiscal year[38] - The company is implementing a long-term strategy to diversify its supply chain, seeking partnerships with reliable suppliers in Southeast Asia[77] Revenue Breakdown - Revenue from external customers in Europe increased to HKD 5,809,000 in 2024 from HKD 4,237,000 in 2023, reflecting a growth of approximately 37.2%[38] - Revenue from external customers in the Americas rose to HKD 5,044,000 in 2024, up from HKD 2,691,000 in 2023, marking an increase of approximately 87.7%[38] - Revenue from sales of goods at a specific point in time was HKD 12,907,000 for 2024, compared to HKD 7,773,000 in 2023, indicating a significant growth of approximately 65.5%[43] - Revenue from film distribution agency and commission income decreased to HKD 3,260,000 in 2024 from HKD 12,598,000 in 2023, a decline of about 74.1%[43] - Revenue from the eyewear segment increased from HKD 7,800,000 to HKD 12,900,000, but the segment incurred a loss of HKD 7,500,000 compared to a profit of HKD 2,600,000 in the previous year[71] - The film investment and distribution segment's revenue decreased from HKD 12,600,000 to HKD 9,700,000, with losses narrowing to HKD 4,300,000 from HKD 8,400,000[72] - Rental income from property investment remained stable at HKD 1,400,000, up from HKD 1,300,000 in the previous year[73] Impairment and Losses - The company recognized an impairment loss of HKD 5,111,000 related to investments in associates during the year ended March 31, 2024[34] - The company confirmed impairment losses on prepayments and deposits of HKD 24,200,000, significantly increasing losses in the debt and securities investment segment[75] - Impairment losses recognized for deposits paid for equity investments amounted to HKD 11,450,000 during the year[64] - The impairment loss on investments in associates was HKD 5,111,000 for 2024, down from HKD 9,648,000 in 2023, reflecting a decrease of approximately 47.1%[44] Employee and Operational Costs - The company’s employee benefits expenses, including director remuneration, rose to HKD 13,110,000 in 2024 from HKD 8,379,000 in 2023, an increase of approximately 56.5%[47] - The company incurred financial expenses of HKD 599,000 in 2024, an increase from HKD 452,000 in 2023, representing an increase of about 32.6%[45] Governance and Compliance - The independent auditor's report expressed a qualified opinion regarding the recoverability of certain deposits and investments[63] - The audit committee, composed of three independent non-executive directors, reviewed the financial statements and confirmed their compliance with applicable accounting standards[92] - The company has outsourced its internal audit function to an independent professional firm to assess risk management and internal control adequacy[88] - The company failed to meet certain listing rules regarding the composition of the board and audit committee but has since rectified this situation[90] Shareholder Information - The company has not declared any dividends for the year ending March 31, 2024, consistent with the previous year[11] - The board did not recommend any dividends for the current year, consistent with the previous year[86] - The annual report for 2023 to 2024 will be sent to shareholders and published on the stock exchange and company websites[96]

Financial Performance - The group reported revenue of HKD 10,296,000 for the six months ended September 30, 2023, representing a 71.5% increase compared to HKD 5,994,000 for the same period in 2022[23]. - Total revenue for the six months ended September 30, 2023, was HKD 10,296,000, a decrease of 52.4% from HKD 21,620,000 in the same period of 2022[61]. - The company reported a net loss of HKD 9,495,000 for the six months ended September 30, 2023, compared to a net loss of HKD 15,251,000 for the same period in 2022, representing a 37.5% improvement in losses year-over-year[41]. - The group recorded a total comprehensive loss of HKD 9,219,000 for the period, a decrease from HKD 17,146,000 in the previous year[28]. - The basic loss per share for the six months ended September 30, 2023, was HKD (1.09), compared to HKD (1.30) for the same period in 2022[25]. - The company reported a loss attributable to owners of the company of HKD 9,495,000 for the six months ended September 30, 2023, compared to a loss of HKD 11,336,000 in the same period of 2022[72]. Revenue Breakdown - The eyewear business generated revenue of approximately HKD 7,900,000 for the six months ended September 30, 2023, down from HKD 15,300,000 in the same period last year, primarily due to a strategic transformation after the disposal of the manufacturing facility in 2022[5]. - The film business revenue decreased from HKD 5,300,000 in the previous year to HKD 1,700,000, as resources were reallocated from distribution services to film investment projects[6]. - Revenue from the Americas was HKD 3,708,000, while revenue from Europe was HKD 3,010,000, marking the first contributions from these regions[61]. - Revenue from China (including Hong Kong) decreased significantly to HKD 2,846,000 from HKD 5,994,000, representing a decline of 52.5%[61]. - External customer revenue of HKD 10,296,000 for the six months ended September 30, 2023, compared to HKD 21,620,000 for the same period in 2022, representing a decrease of approximately 52.4%[55]. Investment and Expenses - The company invested HKD 10,300,000 in three local films with copyrights during the period, focusing on film investment opportunities as the industry recovers from the pandemic[8]. - The cost of sales and services increased to HKD 8,669,000, up from HKD 3,800,000, leading to a gross profit of HKD 1,627,000, down from HKD 2,194,000[23]. - Administrative expenses surged to HKD 13,318,000 from HKD 1,716,000, contributing to a loss before tax of HKD 9,495,000 compared to a profit of HKD 155,000 in the previous year[23]. - The company incurred a net cash outflow of HKD 10,298,000 from investing activities, compared to HKD 6,468,000 in the previous year, indicating increased investment expenditures[39]. - The group’s financial performance was impacted by a significant increase in corporate and other unallocated expenses, totaling HKD 2,353,000[55]. Liquidity and Financial Position - The group’s total liabilities exceeded current assets by HKD 12,276,000 as of September 30, 2023, compared to HKD 2,755,000 as of March 31, 2023, indicating increased liquidity pressure[31]. - The net asset value of the group was HKD 77,183,000 as of September 30, 2023, down from HKD 86,402,000 as of March 31, 2023[33]. - The group has implemented a series of plans and measures to alleviate liquidity pressure and improve financial conditions, including obtaining external credit financing[19]. - The company has a short-term loan agreement for HKD 18,000,000 to meet its financial obligations, indicating proactive financial management[46]. - The group’s total liabilities and assets have not been disclosed in a detailed manner due to the lack of regular management review of operating and reportable segment assets and liabilities[59]. Employee and Management Information - As of September 30, 2023, the group employed 166 full-time employees, a decrease from 202 in the previous year[18]. - The total remuneration paid to key management personnel for the six months ended September 30, 2023, was HKD 189,000, a decrease of 74.0% from HKD 729,000 for the same period in 2022[87]. - The executive director responsible for the report is Zhong Yulin[110]. Corporate Governance - The company has adopted and complied with the corporate governance code as per the listing rules, with a noted exception regarding the appointment of a chairman after the resignation of the previous chairman[106]. - The board has adopted a code of conduct for securities trading, which meets or exceeds the standards set out in the listing rules[107]. - The audit committee consists of three independent non-executive directors[109]. - The company is committed to reviewing its current governance structure in future meetings[106]. Accounting and Reporting - The group did not apply any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective during the reporting period[48]. - The group has adopted new accounting standards effective from April 1, 2023, but these did not have a significant impact on the financial position and performance for the current and prior periods[50]. - The unaudited interim financial information for the six months ended September 30, 2023, has not been reviewed or audited by the company's auditors but has been reviewed by the audit committee[109].

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 何部分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。 ELEGANCE OPTICAL INTERNATIONAL HOLDINGS LIMITED 高 雅 光 學 國 際 集 團 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：907） 截至二零二三年九月三十日止六個月之 中期業績 中期業績 高雅光學國際集團有限公司（「本公司」）董事會（「董事會」或「董事」）謹此公佈本 公司及其附屬公司（統稱「本集團」）截至二零二三年九月三十日止六個月（「本期 間」）之未經審核中期簡明綜合業績，連同二零二二年同期之比較數字載列如下： 未經審核中期簡明綜合損益表 截至二零二三年九月三十日止六個月 截至九月三十日止六個月 二零二三年 二零二二年 （未經審核）（未經審核） （經重列） 附註 千港元 千港元 持續經營業務 ...

Financial Performance - The Group recorded a loss of HK$36.8 million from continuing operations, a significant improvement from a loss of HK$176.4 million in the previous year[8]. - Revenue from continuing operations was approximately HK$21.7 million, representing a 42.1% increase compared to the previous year[9]. - Revenue from film investment and distribution decreased from HK$14.0 million to HK$12.6 million, while segment loss reduced from HK$91.1 million to HK$8.4 million[11]. - The manufacturing and trading of optical frames and sunglasses generated HK$16.4 million in revenue before its disposal, down from HK$40.9 million in the previous year[16]. - The Group's property investment segment maintained stable rental income at approximately HK$1.3 million[12]. - The Group did not generate any revenue from the energy business during the year[20]. - The discontinued segment of property investment generated revenue of HK$0.3 million during the year, down from HK$0.6 million[17]. - The company has implemented cost-saving measures, resulting in improved financial conditions after divesting its eyewear frame and sunglasses manufacturing business[21]. - Following the easing of social distancing restrictions, cinema attendance has rebounded significantly, leading to a substantial increase in box office revenue[21]. - As of March 31, 2023, the group had cash and cash equivalents of approximately HK$7.4 million, down from HK$18.8 million in 2022[32]. - The group's debt to equity ratio improved to approximately 1.9% as of March 31, 2023, compared to 13.2% in 2022[32]. - The group’s current liabilities exceeded its current assets by HK$2.8 million as of March 31, 2023, a shift from a surplus of HK$15.7 million in 2022[32]. Business Strategy and Operations - The Company plans to undertake new film investments in the coming financial year and is in preliminary discussions with potential projects[19]. - The Directors believe that shifting from production to sourcing finished goods will minimize unnecessary production costs and improve the Group's financial position in the long run[18]. - The Group is actively seeking new film investment opportunities for the next fiscal year and is in preliminary discussions regarding potential projects[21]. - The Group is exploring potential acquisitions or mergers to broaden its asset and revenue base[42]. - The Board is actively exploring investment and business opportunities to expand the Group's asset and revenue base, including potential acquisitions or mergers[46]. - Economic conditions and market risks may impact consumer confidence and purchasing habits, affecting the Group's sales and performance[47]. - The Group is exposed to credit and liquidity risks through its financial instruments, including receivables and cash equivalents[48]. - Interest rate risk arises from changes in rates affecting interest-bearing financial assets and liabilities, with no current hedging in place[50]. - The Group primarily conducts transactions in Hong Kong dollars, Renminbi, and US dollars, with minimal expected foreign exchange risk due to the peg of the Hong Kong dollar to the US dollar[51]. Environmental, Social, and Governance (ESG) Performance - The ESG report highlights the Group's performance in environmental and social areas, adhering to the ESG Reporting Guide[55]. - Stakeholder engagement is crucial for the Group's sustainable development, with regular communications to understand stakeholder concerns[69]. - The Board oversees the Group's ESG strategies and performance, delegating day-to-day responsibilities to senior management[75]. - The Group's ESG report is the fourth of its kind, ensuring consistency in methodologies for meaningful comparisons in future reports[60]. - Total greenhouse gas emissions for the Group were 1,515.8 tonnes of CO2 equivalent, a decrease of 45.5% from 2,779.7 tonnes in 2022[94]. - The annual emission intensity was 0.003 tCO2e/ft², down 70.0% from 0.01 tCO2e/ft² in 2022[94]. - Electricity consumption decreased to 2,047,281 kWh from 3,809,919 kWh, with energy intensity dropping to 4.5 kWh/m² from 8.5 kWh/m²[96]. - Water consumption was 26,292 m³, down from 37,282 m³, resulting in a water intensity of 0.06 m³/m² compared to 0.08 m³/m² in 2022[95]. - Gasoline usage totaled 31,965 liters, contributing to 53.7 tonnes of CO2 equivalent, a reduction from 57.1 tonnes in 2022[97]. - The Group's total floor area coverage remained at 450,089 sq.ft., accounting for 100% of emissions from operations in the PRC and Hong Kong[89]. - The Group aims to enhance resource efficiency and reduce waste as part of its sustainability vision[79]. - The Board is committed to managing significant ESG issues and has established an effective ESG risk management system[82]. - The Group has set short-term and long-term sustainable development goals to reduce emissions in accordance with governmental requirements[83]. - The Group actively promotes water-efficient practices to minimize wastage caused by human error[95]. Employee and Workplace Management - As of March 31, 2023, the Group had 40 employees, a decrease from 194 in 2022, with 100% being full-time staff[119]. - The employee structure includes 21 males and 19 females, with 25 employees aged between 36-55 years[123]. - The Group offers competitive remuneration and benefits, with salaries reviewed annually based on performance and market trends[123]. - The Group has implemented various emergency plans to manage climate-related risks, ensuring no significant impact from extreme weather during the reporting period[112]. - The Group is committed to monitoring climate-related policies and regulations to mitigate transition risks associated with moving towards a lower-carbon economy[114]. - The Group's employee turnover rate is 20, with 12 males and 8 females leaving the company[134]. - 25% of employees received training during the reporting period, with an average of 3 hours for males and 2 hours for females[140]. - There were no work-related fatalities or injuries reported during the reporting period, with a total of 0 days lost due to work injury[137]. - The Group provides various paid holidays, including annual leave, sick leave, and maternity leave, in addition to statutory holidays[127]. - The Group's recruitment process ensures equal opportunities for all candidates, adhering to guidelines set by the Human Resource Department[145]. - The Group maintains a commitment to diversity and equal opportunities, ensuring no discrimination based on gender, ethnicity, or other social identities[128]. - The Group's working hours are structured to promote work-life balance, with a five to six-day workweek depending on operational needs[127]. - Comprehensive professional training is provided to employees to enhance service delivery to customers[140]. - The Group has a sustainable workforce strategy in response to the aging population trend in Hong Kong[138]. - The Group regularly reviews its employee health and safety procedures to ensure a safe working environment[139]. Corporate Governance and Compliance - The Group maintained a zero product recall record this year, demonstrating its commitment to consumer safety and protection[161]. - During the reporting period, the Group had 57 suppliers, all located in Hong Kong and the PRC[159]. - The Group employs a comprehensive enterprise resources planning system for finance-related operations to ensure data privacy and maintain information confidentiality[163]. - The Group has not made any donations during the reporting period, consistent with the previous year[170]. - The Group is committed to managing all business without undue influence, adhering to core values of honesty, integrity, and fairness[164]. - The Group actively sources energy-saving appliances and materials, considering opportunities for collaboration with charity partners[172]. - The Group's procurement policy helps screen out undesirable products, ensuring high-quality raw materials and equipment[155]. - The Group has a strict tendering process in place for procurement, ensuring a fair and transparent selection of suppliers[157]. - There were no concluded legal cases regarding corrupt practices against the Group or its employees during the reporting period[165]. - The Group recognizes the trend of applying digital technologies in operations and marketing strategies to enhance sustainability and attract future talent[172]. - The company reported a commitment to high standards of corporate governance practices, ensuring transparency and accountability throughout the year ended March 31, 2023[192]. - The company has complied with the Corporate Governance Code, with the exception of not appointing a Chairman after the resignation of Mr. Yu Baodong on October 11, 2022[193]. - The Board will review the current situation regarding the Chairman position in upcoming regular meetings[193]. - The Company has outsourced its internal audit function to independent professional firms for the analysis and appraisal of risk management and internal control systems in the optical frames and sunglasses segment[196]. - The Board plans to perform internal audit functions across all segments in the coming year[196]. - The Company emphasizes a corporate culture focused on customer orientation, product excellence, people-first approach, and legal compliance[197]. - The Company's purpose is to strive for the success of its stakeholders, guided by values such as cooperation, legal compliance, motivation, clear objectives, and responsibility[198]. - The corporate culture aims to enable employees to thrive and achieve their full potential through lawful and ethical conduct[200].

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 何部分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。 ELEGANCE OPTICAL INTERNATIONAL HOLDINGS LIMITED 高 雅 光 學 國 際 集 團 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：907） 截至二零二三年三月三十一日止年度 之全年業績 高雅光學國際集團有限公司（「本公司」）董事會（「董事會」或「董事」）謹此公佈， 本公司及其附屬公司（統稱「本集團」）截至二零二三年三月三十一日止年度之經 審核綜合財務業績，連同二零二二年比較數字如下： 綜合損益表 截至二零二三年三月三十一日止年度 二零二三年 二零二二年 附註 千港元 千港元 （經重列） 持續經營業務 收益 5 21,704 15,275 銷售及服務成本 (15,335) (10,875) ...

2053 中期報告 ELEGANCE OPTICAL INTERNATIONAL HOLDINGS LIMITED 高雅光學國際集團有限公司 (於百嘉遠註冊成立之有限公司) 股份代號:907 | --- | --- | --- | --- | --- | --- | |-------|-------|-------|----------------------------------|-------|-------| | | | | | | | | | | | | | | | | 目 | | 錄 | | | | | | | | | | | | 02 | | 公司資料 | | | | | 03 | | 管理層討論及分析 | | | | | 06 | | 未經審核中期簡明綜合損益表 | | | | | 07 | | 未經審核中期簡明綜合全面收益表 | | | | | | | 未經審核中期簡明綜合財務狀況表 | | | | | 08 | | 未經審核中期簡明綜合權益變動表 | | | | | 10 | | | | | | | 11 | | 未經審核中期簡明綜合現金流量表 | | | | | 12 | | 未經審核中 ...

Financial Performance - The Group recorded a loss before tax of approximately HK$182.2 million, with a loss attributable to owners of approximately HK$177.1 million, compared to a loss of approximately HK$15.3 million in 2021[11]. - Total revenue for the year was approximately HK$56.8 million, relatively stable compared to approximately HK$53.9 million in the previous year[12]. - Revenue from the sales of optical frames and sunglasses decreased by approximately 16.5% or approximately HK$40.9 million, down from HK$49.0 million in 2021, primarily due to the impact of the COVID-19 pandemic[13]. - Rental income from property investment remained stable at approximately HK$1.9 million, while the Group did not record any revenue from debts and securities investment for both years[14]. - The film investment and distribution segment recorded a loss of approximately HK$91.1 million, mainly due to investments in film production and impairment losses totaling approximately HK$88.9 million[14]. Strategic Initiatives - The Group has implemented strategic initiatives to develop its energy business, including the acquisition of a company engaged in new energy and a proposed subscription of 50% shareholding in H. Sterling LNG Terminal Holding Limited[15]. - The Group aims to diversify its business and income streams, focusing on the energy sector and exploring new trading platforms for liquefied natural gas products[21]. - A subscription agreement was signed with Kingdom Investment Corporation Limited to subscribe for 174 million new shares for total proceeds of approximately HK$161.8 million[21]. - The Group is exploring opportunities in the energy sector, focusing on developing its energy business through acquisitions and new trading platforms[23]. - The Group's strategic investor, Kingdom Investment Corporation Limited, aims to leverage opportunities in the oil and gas industry, particularly in regions influenced by the "Belt and Road" initiative[23]. Financial Position - As of March 31, 2022, the Group had cash and cash equivalents of approximately HK$18.8 million, down from HK$40.1 million in 2021[31]. - The Group's short-term borrowings were approximately HK$14.6 million as of March 31, 2022, compared to HK$23.4 million in 2021[31]. - The debt to equity ratio of the Group was approximately 14.7% as of March 31, 2022, an increase from 7.4% in 2021[31]. - The Group's equity attributable to owners as of March 31, 2022, was approximately HK$146.8 million, down from HK$283.4 million in 2021[31]. Employee and Operational Insights - The Group employed 194 full-time employees as of March 31, 2022, a decrease from 235 in 2021[31]. - The annual turnover rate for employees aged 26-35 was 25% in 2022, compared to 45% in 2021[66]. - The Group reported zero work-related fatalities and injuries for both 2021 and 2022, indicating a strong commitment to employee safety[68]. - The Group actively engages in employee communication and motivation through various channels, including annual dinners and volunteer activities, to enhance employee belonging[75]. Environmental Impact - Total greenhouse gas emissions for the Group were 2,779.7 tonnes of CO2e, representing a 22.2% increase from 2,275.3 tonnes in 2021[53]. - The Group's electricity consumption was 3,809,919 kWh, up from 3,124,825 kWh in 2021, with an energy intensity of 8.5 kWh/m²[54]. - Water consumption increased to 37,282 m³ from 28,247 m³ in 2021, resulting in a water intensity of 0.06 m³/m²[53]. - Paper consumption increased significantly to 5.72 tonnes from 2.59 tonnes in 2021, marking a 120.6% rise[47]. - The Group actively promotes water-efficient practices to reduce wastage caused by human error[53]. Corporate Governance - The Company has adopted the Corporate Governance Code as its own code of corporate governance practices, ensuring transparency and accountability[105]. - The board did not appoint a chairman until February 23, 2021, which has since been rectified, ensuring a clear division of responsibilities[106]. - The Company recognizes the importance of good corporate governance to maximize shareholder benefits[105]. - The Board currently comprises six Directors, including three executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience[111]. - The Company has maintained compliance with the Corporate Governance Code throughout the year ended March 31, 2022, with minor deviations noted[105]. Risk Management - The Group faces credit and liquidity risks related to trade receivables, loans, and other financial instruments, with management monitoring these risks closely[35]. - Interest rate risk is present due to fluctuations in interest-bearing financial assets and liabilities, with no current hedging in place[35]. - The Group is exposed to commodities risk from price fluctuations in raw materials like cellulose acetate and potassium gold cyanide, impacting cost of goods sold[36]. - The management confirmed the effectiveness of the Control Systems, with no significant issues reported that could adversely impact operational, financial, or compliance areas[200]. Compliance and Internal Controls - The Company ensures compliance with applicable laws and regulations for reliable financial information provision[199]. - The Audit Committee assessed the effectiveness of the risk management and internal control systems, concluding that the Group operated at a manageable risk level[165]. - The Company has established multiple communication channels with shareholders, including annual general meetings and updates on the Company’s website[187]. - The Company Secretary ensures that Board procedures and applicable laws are followed, providing necessary materials to Directors[169].

( ELEGANCE optical international holdings limited 高雅光學國際集團有限公司 (於百嘉達註冊成立之有限公司) 股份代號: 907 2021/2022 中 期 報 告 | --- | --- | |---------|----------------------------------| | | | | | | | 目 | 錄 | | | | | | 公司資料 | | 02 | 管理層討論及分析 | | 03 07 | 未經審核中期簡明綜合損益表 | | 08 | 未經審核中期簡明綜合全面收益表 | | 09 | 未經審核中期簡明綜合財務狀況表 | | 11 | 未經審核中期簡明綜合權益變動表 | | 12 | 未經審核中期簡明綜合現金流量表 | | 13 | 未經審核中期簡明綜合財務報表附註 | | | | 32 補充資料 高雅光學國際集團有限公司 公司資料 董事會 執行董事 于寶東先生（主席） 鍾育麟先生 黃創輝先生 獨立非執行董事 文偉麟先生 鄭振民先生 許文浩先生 審核委員會 鄭振民先生（主席） 文偉麟先生 許文浩先生 提名委員會 文偉麟先生（主席） 鄭振 ...

Financial Performance - For the year ended 31 March 2021, the Company recorded a loss before tax of approximately HK$18.2 million, a significant improvement from a loss of approximately HK$98.4 million in 2020[11]. - Total revenue for the Year was approximately HK$53.9 million, representing a decrease of approximately 18.6% compared to HK$66.2 million in the previous year[11]. - Revenue from the sales of optical frames and sunglasses decreased by approximately 21.7% or approximately HK$49.0 million, down from HK$62.6 million in 2020, primarily due to the impact of the COVID-19 pandemic[11]. - Rental income from property investment slightly decreased from approximately HK$2.1 million in 2020 to approximately HK$1.9 million in 2021, remaining relatively insignificant to the Group's operations[11]. - The Group did not record any revenue from debts and securities investment for both years, with the fair value of securities investment amounting to approximately HK$5.3 million as of 31 March 2021[11]. Business Acquisitions and Investments - The Group acquired Gulf Energy (China) Limited for HK$20 million, which is engaged in the sale and trading of liquefied petroleum gas products[24]. - The company acquired 100% equity of Bay Energy (China) Limited for HK$20 million, which will now operate as a wholly-owned subsidiary[28]. - The Group plans to diversify its business and income streams by exploring opportunities in the energy sector, particularly liquefied petroleum gas[16]. - The company plans to use approximately HK$39.1 million from the 2021 Placing for potential investments in debt, securities, film projects, and energy-related businesses[30]. Capital Raising and Utilization - The Company raised approximately HK$12.1 million through the placing of 121,310,000 new ordinary shares at HK$0.1 each[25]. - The company entered into a subscription and placing agreement for a maximum of 45,000,000 new shares at HK$0.381 per share, raising approximately HK$54.1 million for future investments and general working capital[27]. - As of March 31, 2021, HK$7.8 million of the net proceeds from the 2020 Placing had been utilized for general working capital and potential future investments[25]. - As of March 31, 2021, HK$35.5 million had been utilized for investment and acquisition, with only HK$1.0 million used for general working capital from the 2021 Placing[32]. Financial Stability and Ratios - As of March 31, 2021, the Group's cash and cash equivalents amounted to approximately HK$40.1 million, an increase from HK$28.4 million in 2020, while short-term borrowings decreased to approximately HK$23.4 million from HK$30.5 million in 2020[34]. - The debt to equity ratio as of March 31, 2021, was approximately 7.4%, down from 12.1% in 2020, indicating improved financial stability[34]. - The Group's equity attributable to owners increased to approximately HK$283.4 million as of March 31, 2021, compared to HK$229.4 million in 2020, reflecting a growth of about 23.6%[34]. Employee and Workforce Management - The Group employed 235 full-time employees as of March 31, 2021, a decrease from 271 in 2020, indicating a reduction in workforce[34]. - The employee turnover rate for 2021 was 0%, with no work-related fatalities or injuries reported[83]. - The Group offers competitive remuneration and benefits, with annual salary reviews based on performance and market trends[75]. - The Group provides comprehensive professional training to employees to enhance service quality[91]. Environmental Sustainability - Total greenhouse gas emissions decreased by 22.9% from 2,952.3 tonnes in 2020 to 2,275.3 tonnes in 2021[66]. - Water consumption reduced significantly by 72.7%, from 103,429 m³ in 2020 to 28,247 m³ in 2021, with water intensity dropping from 0.22 m³/m² to 0.06 m³/m²[66]. - Electricity consumption decreased by 21.7%, from 3,991,005 kWh in 2020 to 3,124,825 kWh in 2021, with energy intensity improving from 8.3 kWh/m² to 6.9 kWh/m²[66]. - Paper consumption decreased by 67.1%, from 7.89 tonnes in 2020 to 2.59 tonnes in 2021, reflecting the company's commitment to paper-saving initiatives[70]. Corporate Governance - The Company has complied with the Corporate Governance Code throughout the year ended March 31, 2021, with some deviations rectified[112]. - The Board consists of six Directors, including three executive Directors and three independent non-executive Directors[121]. - The Company has adopted a code of conduct for Directors' securities transactions, confirming compliance throughout the year[121]. - The Company emphasizes continuous professional development for directors, providing updates on regulatory requirements and macroeconomic conditions[132]. Risk Management - The Audit Committee assessed that the Group operated at a manageable risk level and continued to improve its management system[155]. - The Company maintained adequate systems of internal control and risk management to safeguard shareholders' investments and assets[174]. - The internal audit function independently appraises the adequacy and effectiveness of the Control Systems[182]. - Significant risks have been identified, with key strategies and control measures outlined in the Management Discussion and Analysis section of the report[183].

Financial Performance - The company reported a pre-tax loss of approximately HKD 4.4 million for the six months ended September 30, 2020, compared to a pre-tax loss of approximately HKD 21.7 million in the same period last year[6]. - Total revenue for the group was approximately HKD 43.3 million, a decrease of about 4.74% from approximately HKD 45.5 million in the previous year[6]. - Revenue from the eyewear and sunglasses segment decreased by approximately 24.4%, or about HKD 9 million, to approximately HKD 27.8 million, down from HKD 36.8 million in 2019[6]. - The film investment and distribution segment recorded revenue of approximately HKD 14 million, up from HKD 7.4 million in the previous year[7]. - The company reported a loss before tax of HKD 4,446,000, a significant reduction from a loss of HKD 21,722,000 in the prior year[24]. - The company reported a total comprehensive loss of HKD 2,605,000 for the six months ended September 30, 2020, compared to a total comprehensive loss of HKD 20,578,000 for the same period in 2019[34]. - The company’s financial performance is evaluated based on adjusted profit/loss before tax, excluding interest income and financial costs[47]. Revenue Breakdown - Revenue from external customers for the six months ended September 30, 2020, was HKD 43,337,000, a decrease from HKD 45,491,000 in the same period of 2019, representing a decline of approximately 4.75%[61]. - Revenue from the Americas decreased to HKD 18,367,000 in 2020 from HKD 24,725,000 in 2019, a decline of approximately 25.5%[61]. - Revenue from the Greater China region (including Hong Kong) increased significantly to HKD 18,428,000 in 2020 from HKD 9,358,000 in 2019, representing an increase of approximately 96.5%[61]. Cash Flow and Liquidity - As of September 30, 2020, the group had cash and cash equivalents of approximately HKD 33,500,000, an increase from HKD 28,400,000 as of March 31, 2020[21]. - The net cash flow from operating activities for the six months ended September 30, 2020, was HKD 6,005,000, compared to a net outflow of HKD 11,820,000 in the same period last year[37]. - The total cash and cash equivalents at the end of the period increased to HKD 33,506,000, up from HKD 17,846,000 at the beginning of the period[37]. Share Capital and Financing - The company completed a rights issue on February 18, 2020, issuing 202,184,561 shares at a subscription price of HKD 0.14 per share, raising approximately HKD 26.01 million net of expenses[17]. - The company raised approximately HKD 12,100,000 by placing 121,310,000 new ordinary shares at HKD 0.1 per share, with a net amount of about HKD 11,670,000 intended for general working capital and potential future investments[18]. - The total issued and paid-up share capital increased to HKD 72,786,000 as of September 30, 2020, from HKD 60,655,000 as of April 1, 2020, following the placement of 121,310,000 new shares[106]. - The company has a bank financing limit of approximately HKD 3 million, which was not utilized as of September 30, 2020[11]. Employee and Operational Metrics - The group employed 244 full-time employees as of September 30, 2020, down from 331 in the previous year[16]. - Employee benefits expenses, including director remuneration, decreased to HKD 9,520,000, down 43.9% from HKD 16,944,000 in the previous year[76]. - The company reported a short-term employee benefit expense of HKD 555,000 for the six months ended September 30, 2020, down from HKD 855,000 in the previous year[115]. Inventory and Asset Management - The company’s inventory decreased to HKD 3,607,000 from HKD 8,802,000 as of March 31, 2020, indicating improved inventory management[28]. - The company reported a total asset value of HKD 372,467,000 as of September 30, 2020, compared to HKD 438,965,000 as of September 30, 2019, reflecting a decrease of approximately 15.1%[58]. Liabilities and Financial Position - The company’s non-current liabilities as of September 30, 2020, were approximately HKD 28,300,000, slightly up from HKD 27,700,000 as of March 31, 2020[21]. - The company’s total liabilities decreased from HKD 38,775,000 as of March 31, 2020, to HKD 28,852,000 as of September 30, 2020, reflecting a reduction of approximately 25.6%[101]. - The group recognized a net loss of HKD 1,955,000 from foreign exchange differences, compared to a gain of HKD 1,976,000 in the previous year[76]. Corporate Governance and Compliance - The company has adopted and complied with the corporate governance code as per the listing rules, with some deviations noted[136]. - The board has not appointed any director as chairman during the review period, and this situation will be reviewed in the upcoming meeting[136]. - Independent non-executive directors are subject to re-election at the annual general meeting, with specific terms for some directors[137]. - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with standard regulations[138].