Financial Performance - Turnover increased by 3.0% year-on-year to HK$906.0 million (1H2019/20: HK$879.8 million) despite challenges from the COVID-19 pandemic [10] - Gross profit rose by 3.5% to HK$122.4 million (1H2019/20: HK$118.3 million), with a gross profit margin of 13.5% (1H2019/20: 13.4%) attributed to cost effectiveness and production capacity expansion in Vietnam [13] - Profit attributable to shareholders was HK$29.1 million (1H2019/20: HK$27.5 million), resulting in a net profit margin of 3.2% (1H2019/20: 3.1%) and basic earnings per share of HK10.25 cents (1H2019/20: HK9.68 cents) [13] - Operating profit increased by 16.4% to HK$37.4 million compared to the previous year, driven by increased revenue and improved gross profit margin [49] - Profit for the period was HK$29.3 million, representing a 7.3% increase from HK$27.3 million in the last corresponding period [55] - Total comprehensive income for the period was HK$29,302,000, compared to HK$22,343,000 in 2019, marking a significant increase of 31.2% [157] Revenue Segments - The electronic products business generated stable revenue of HK$722.6 million (1H2019/20: HK$740.3 million), representing a year-on-year decrease of 2.4% and accounting for 79.8% of total sales [16] - Revenue from electronic products segment decreased by 2.4% to HK$722.6 million, accounting for 79.8% of total revenue [60] - The pet business recorded sales of HK$183.4 million, representing a year-on-year growth of 31.5% and accounting for 20.2% of total sales [19] - Revenue from pet-related products segment increased by 31.5% to HK$183.4 million, representing 20.2% of total revenue [63] Market Trends and Strategies - The demand for professional audio equipment surged due to the trend of remote working and learning from home, particularly for wireless microphones [17] - The Group aims to strengthen its market presence in Mainland China to mitigate pandemic impacts and enhance resilience against risks [29] - The Group's strategy includes diversifying regional markets and production layouts for risk aversion post-COVID-19 [23] - The Group anticipates that the trend of working from home will continue to stimulate demand for pet products [33] - The Group is optimistic about returning to pre-epidemic business performance and is focused on seizing opportunities in the "new normal after COVID-19" [39] Production and Expansion Plans - The Group plans to build a new factory of over 30,000 sq.m. in Vietnam, expected to commence production in 2021, to reduce production costs and support business expansion in Mainland China [30] - The number of R&D projects has significantly increased amid the pandemic, focusing on professional audio equipment and new hair styling products, which is expected to enhance profitability [24] - Orders for other products that were postponed earlier have resumed, with some expected to be delivered in the second half of the year, potentially improving business performance [18] Financial Position - As of September 30, 2020, the Group's current assets were approximately HK$811.7 million, and current liabilities were approximately HK$452.7 million, resulting in a liquidity ratio of 1.79 times [65] - The Group's total assets increased to approximately HK$1,185.4 million as of September 30, 2020, from HK$998.0 million as of March 31, 2020, with total liabilities rising to HK$456.9 million [71] - The net asset value of the Group increased from HK$704.8 million as of March 31, 2020, to HK$728.5 million as of September 30, 2020, primarily due to profit for the period [72] - The Group maintained cash and bank balances of approximately HK$137.1 million as of September 30, 2020, an increase from HK$128.5 million as of March 31, 2020 [66] Corporate Governance and Shareholder Information - The company declared an interim dividend of HK6.0 cents per share for the six months ended 30 September 2020, consistent with the previous year [90] - The company has complied with the Corporate Governance Code, except for the deviation where the roles of Chairman and Chief Executive Officer are held by the same individual, Dr. Ng Chi Ho [93] - The company confirmed that there was sufficient public float of not less than 25% of the issued shares as required under the Listing Rules [101] - The directors confirmed compliance with the Model Code for Securities Transactions during the six months ended 30 September 2020 [100] Financial Risks and Accounting Policies - The Group is exposed to various financial risks including foreign exchange risk, cash flow and fair value interest rate risk, credit risk, and liquidity risk [189] - There have been no significant changes in the risk management policies since the year end of March 31, 2020 [189] - The Group's accounting policies are consistent with those of the annual consolidated financial statements for the year ended March 31, 2020, with interim income taxes accrued using the applicable tax rate for expected total annual earnings [181]

Financial Performance - Revenue for the year ended March 31, 2020, was HK$1,615,183, a decrease of 3.9% from HK$1,681,862 in 2019[13] - Gross profit for the year was HK$206,343, down from HK$226,983 in the previous year, reflecting a decline of 9.1%[13] - Operating profit decreased to HK$34,534, a drop of 47.3% compared to HK$65,524 in 2019[13] - Profit attributable to owners of the Company was HK$27,705, down 50.2% from HK$55,557 in 2019[13] - Earnings per share decreased to 9.77 HK cents, down from 19.64 HK cents in the previous year[13] - The Group's turnover for the financial year was HK$1.6 billion, a year-on-year decrease of 4.0% from HK$1.7 billion in FY2018/19[31] - Gross profit amounted to approximately HK$206.3 million, with a gross profit margin of 12.8%, down from HK$227.0 million and 13.5% in the previous year[31] - Profit attributable to shareholders was HK$27.7 million, resulting in a net profit margin of 1.7%, compared to HK$55.6 million and 3.3% in FY2018/19[31] Revenue Breakdown - Revenue from electronic products was HK$1,364,415, a decrease of 2.3% from HK$1,395,599 in 2019[16] - Revenue from pet-related products was HK$250,768, down 12.4% from HK$286,263 in 2019[16] - Revenue from the USA was HK$769,079, a decrease of 7.7% from HK$832,952 in 2019[17] - The electronic products business generated revenue of HK$1,364.4 million, accounting for 84.5% of total sales, with a year-on-year decrease of 2.2%[37] - The pet business recorded sales of HK$250.8 million, representing a year-on-year decrease of 12.4% and accounting for 15.5% of total sales[45] Assets and Liabilities - Total equity as of March 31, 2020, was HK$704,841, down from HK$724,650 in 2019[13] - As of March 31, 2020, the Group's current assets were approximately HK$630.8 million, down from HK$676.4 million as of March 31, 2019, while current liabilities decreased to approximately HK$287.6 million from HK$317.7 million[95] - The Group's total assets as of March 31, 2020, were approximately HK$998.0 million, down from HK$1,042.7 million as of March 31, 2019, while total liabilities decreased to approximately HK$293.1 million from HK$318.0 million[101] - The debt ratio improved to approximately 0.29 times as of March 31, 2020, compared to 0.31 times as of March 31, 2019[101] Operational Developments - The highly automated factory in Vietnam commenced operation, with an expansion of production lines to sixteen to meet customer demand[44] - The Group has expanded its production capacity by renting over 6,000 sq.m. of additional space in Vietnam to accommodate increased demand[44] - Production facilities in Dongguan, China, have fully resumed operations, preparing for increased order volumes from business partners[54] - The Group anticipates a rise in demand for technology products post-COVID-19, presenting significant business opportunities[53] New Products and Innovations - The Group's new product, the "Cordless Hair Straightener," has received positive market feedback and is part of its new smart personal care business[37] - The "Cordless Hair Straightener" won the Gold Prize in the Personal Electronics category at the Electronic Industries Awards 2019, showcasing the Group's technological innovation capabilities[47] - The Group plans to launch a new pet food brand targeting the mid-range market in China, following positive responses at the Pet Fair Asia in August 2019[97] Corporate Governance - The Company has complied with the Corporate Governance Code, except for CG Code A.2.1, which requires separation of the roles of Chairman and Chief Executive Officer[173][174] - The Board is responsible for supervising the Group's business, reviewing financial performance, and approving strategic plans and funding decisions[181][184] - The Company has appointed at least three independent non-executive directors, ensuring compliance with Listing Rules[182] - The Board held four regular meetings and one Annual General Meeting during the year, with full attendance from all directors[192] Management and Directors - The Group's overall management is vested in its board of directors, which comprises eight members from diverse professional backgrounds[176] - The Group's Chief Financial Officer, Mr. CHOW Sze Shek, has over 26 years of experience in corporate finance, accounting, and auditing[160] - The Group's independent non-executive director, Dr. CHEUNG Nim Kwan, has served as the Chief Executive Officer of the Hong Kong Applied Science and Technology Research Institute, which has 500 members[156] - The Group's independent non-executive director, Mr. CHAN Kit Wang, has over 43 years of experience in accounting, auditing, and taxation[152] Financial Management - Total operating expenses were HK$174.2 million, an increase of HK$7.6 million compared to HK$166.6 million in the previous fiscal year[75] - Net finance costs for the year were HK$3.5 million, an increase from HK$1.9 million in the previous year[76] - The Group maintained cash and bank balances of approximately HK$128.5 million as of March 31, 2020, similar to HK$127.8 million in the previous year[100] - The Group's bank borrowings were HK$67.8 million as of March 31, 2020, down from HK$69.5 million as of March 31, 2019, maintaining a gearing ratio of 9.6%[100]

Financial Performance - Turnover increased by 1.94% to HK$879.8 million compared to HK$863.0 million in the same period last year[11] - Gross profit rose by 1.2% to HK$118.3 million, with a gross profit margin of 13.4%[11] - Profit attributable to shareholders decreased to HK$27.5 million from HK$31.6 million, resulting in a net profit margin of 3.1%[11] - Basic earnings per share were HK9.68 cents, down from HK11.17 cents in the previous year[11] - For the six months ended September 30, 2019, the Group recorded revenue of HK$879.8 million, representing an increase of 1.94% compared to HK$863.0 million in the same period last year[54] - The profit attributable to equity holders decreased by HK$4.1 million or 13.0%, totaling HK$27.5 million compared to HK$31.6 million in the prior year[54] - Operating profit decreased to HK$32,099,000 from HK$36,935,000 year-over-year, a decline of 13.5%[136] - Profit for the period was HK$27,333,000, down from HK$31,375,000 in the previous year, representing a decrease of 12.9%[139] - Earnings per share for profit attributable to owners of the Company was HK$0.0968, compared to HK$0.1117 in the prior year, a decrease of 13.9%[136] Business Segments - The electronic products business generated sales of HK$740.3 million, accounting for 84.1% of total sales, with a year-on-year increase of 1.8%[19] - The pet business recorded sales of HK$139.5 million, representing a slight increase of 2.6% year-on-year, and occupied 15.9% of total sales[26] - Revenue from the electronic products segment amounted to HK$740.3 million, an increase of 1.8% year-on-year, accounting for 84.1% of total sales[57] - Pet-related products sales amounted to HK$139.5 million, representing a 2.6% increase from HK$136 million in the previous year, accounting for 15.9% of total sales[64] Investments and Expansion - SUGA invested approximately US$2.0 million in Mobilogix, holding approximately 22% of its common stock after executing conversion rights[19] - The establishment of a factory in Vietnam contributed to maintaining turnover growth despite challenges from the Sino-US trade war[10] - The company has expanded its Vietnam factory by renting an additional 6,000 sq.m, increasing production lines from two to four to six, enhancing automation[33] - Investment in Mobilogix, a California-based SaaS provider, gives the company approximately 22% interest, enhancing its IoT capabilities[34] - The company plans to launch a new pet food brand "TEENYTINY" targeting the mid-range market, with products expected to be officially launched nationwide early next year[28] - The pet food business is expected to recover with the resumption of Brabanconne brand imports into China and the nationwide launch of the new brand "TEENYTINY" early next year[45] Financial Position - As of September 30, 2019, the Group's current assets were approximately HK$801.0 million, up from HK$676.4 million as of March 31, 2019, while current liabilities increased to approximately HK$425.3 million from HK$317.7 million[71] - The liquidity ratio decreased to 1.88 times as of September 30, 2019, compared to 2.13 times as of March 31, 2019[71] - Total assets amounted to approximately HK$1,160.1 million as of September 30, 2019, compared to HK$1,042.7 million as of March 31, 2019, while total liabilities rose to HK$430.0 million from HK$318.0 million[71] - The debt ratio increased to 0.37 times as of September 30, 2019, from 0.31 times as of March 31, 2019[71] - The net asset value rose from HK$724.7 million as of March 31, 2019, to HK$730.1 million as of September 30, 2019[71] Corporate Governance - The Board declared an interim dividend of HK6.0 cents per share for the six months ended 30 September 2019, consistent with the previous year[86] - The Company has confirmed compliance with the corporate governance code provisions, except for the separation of the roles of Chairman and Chief Executive Officer[86] - The roles of Chairman and Chief Executive Officer are currently held by the same individual, Dr. Ng Chi Ho, with plans to review this arrangement periodically[86] - The Audit Committee reviewed the unaudited interim financial information for the six months ended 30 September 2019, focusing on accounting policies and risk management[90] Risk Management - The Group's financial risk exposure includes foreign exchange risk, cash flow and fair value interest rate risk, credit risk, and liquidity risk[184] - No significant changes in risk management policies have occurred since the year-end of March 31, 2019[184] - The estimated discount rate for calculating the present value of lease liabilities involves management judgment and may impact the Group's financial performance[183] Cash Flow - Net cash generated from operating activities for the six months ended 30 September 2019 was HK$82,165,000, a significant increase from HK$3,895,000 in the same period of 2018[153] - The net cash used in investing activities amounted to HK$66,270,000, compared to a net cash generated of HK$1,668,000 in the previous year[153] - Cash and cash equivalents at the end of the period increased to HK$150,384,000 from HK$114,884,000 year-on-year, reflecting a net increase of HK$17,324,000[155] - The company reported a net cash generated from financing activities of HK$1,429,000, a recovery from a net cash used of HK$43,784,000 in the prior year[153] Shareholder Information - As of September 30, 2019, the company reported a substantial shareholder, Superior View Inc., holding 110,000,000 shares, representing 38.80% of the issued shares[127] - Another significant shareholder, Billion Linkage Limited, holds 53,598,000 shares, accounting for 18.91% of the issued shares, along with a short position of 10,000,000 shares, which is 3.53%[127] - Lee Wai Fun, as the spouse of Dr. Ng Chi Ho, is deemed to have an interest in 119,130,000 shares, which is 42.02% of the issued shares[127] Compliance and Regulations - The Company has complied with the Model Code for Securities Transactions by Directors during the six months ended 30 September 2019[88] - The Company did not purchase, redeem, or sell any of its shares during the reporting period[86] - The Company will pay the interim dividend on or before 20 December 2019[86]

Financial Performance - Revenue for the year ended March 31, 2019, was HK$1,681,862, an increase of 11.3% from HK$1,510,504 in 2018[10] - Gross profit decreased to HK$226,983, down 1.8% from HK$231,148 in the previous year[10] - Operating profit fell to HK$65,524, a decline of 21.0% compared to HK$82,934 in 2018[10] - Profit attributable to owners of the Company was HK$55,557, down 25.0% from HK$74,111 in the prior year[10] - Basic earnings per share decreased to 19.64 HK cents, down from 26.29 HK cents in 2018[10] - Suga International Holdings Limited reported a turnover of approximately HK$1.7 billion for FY2018/19, representing a year-on-year increase of about 11.3%[26] - Gross profit for the year was approximately HK$227.0 million, with a gross profit margin of 13.5%, down from 15.3% in the previous year[26] - Profit attributable to shareholders was approximately HK$55.6 million, resulting in a net profit margin of 3.3%, compared to 4.9% in FY2017/18[27] - Revenue from the electronic products segment was approximately HK$1,395.6 million, representing an 18.3% increase compared to the previous year and accounting for 83% of the Group's total revenue[63] - Revenue from the pet-related products segment was approximately HK$286.3 million, representing 17.0% of the Group's total revenue, a decrease of HK$44.1 million or 13.3% compared to the previous year[68] Revenue Breakdown - Revenue from electronic products increased to HK$1,395,599, up 18.2% from HK$1,180,154 in 2018[13] - Revenue from pet-related products decreased to HK$286,263, down 13.4% from HK$330,350 in the previous year[13] - Revenue from the United States increased to HK$832,952, up 24.2% from HK$670,865 in 2018[14] - Revenue from the top 3 countries (USA, Japan, and PRC) accounted for 72.9% of total sales, down from 75.4% in the previous year[59] Assets and Liabilities - Total equity as of March 31, 2019, was HK$724,650, a slight decrease from HK$731,605 in 2018[10] - The Group's current assets and current liabilities as of March 31, 2019, were approximately HK$676.4 million and HK$317.7 million, respectively, resulting in a liquidity ratio of 2.13 times[73] - Total assets and total liabilities as of March 31, 2019, amounted to approximately HK$1,042.7 million and HK$318.0 million, respectively, with a debt ratio of approximately 0.31 times[76] - The net asset value of the Group decreased from HK$731.6 million as of March 31, 2018, to HK$724.7 million as of March 31, 2019, primarily due to comprehensive loss from exchange differences[77] Capital Expenditures and Investments - The Group's total capital expenditures for the year were HK$18.4 million, mainly for additions of machinery and equipment for production plants in PRC and Vietnam[79] - The Vietnam plant has completed trial production, with a focus on shifting manufacturing affected by the trade war to this facility, enhancing automated production processes[46] - Suga established a manufacturing facility in Vietnam with an initial investment of approximately HK$20 million, aimed at mitigating pressures from the US-China trade war[36] Pet Business Initiatives - The Group has launched PetbleCare, an online pet insurance platform, to enhance its pet business ecosystem[40] - The pet business generated sales of approximately HK$286.3 million, accounting for 17.0% of total sales, a decrease from HK$330.4 million in the previous fiscal year due to reduced inventory orders from business partners[41] - The Group continues to raise awareness of its Brabanconne pet food brand, participating in various domestic and overseas pet exhibitions to expand market presence[39] - The avian influenza outbreak in Belgium impacted the development of the pet food brand "Brabanconne," but the company is actively exploring stable supply sources to mitigate risks and meet customer needs[48] Corporate Governance - The Group's financial year ended on March 31, 2019, and it has complied with the Corporate Governance Code, except for CG Code A.2.1[117] - The Group does not have a separate Chairman and Chief Executive Officer, with Dr. Ng Chi Ho holding both positions, which the Board believes provides strong leadership[118] - The Board consists of eight members, including three executive directors and three independent non-executive directors[120] - The principal functions of the Board include supervising the Group's business, reviewing financial performance, and approving strategic plans[126] - The Company has received annual confirmations of independence from all INEDs, ensuring their objectivity in Board decisions[129] Board Committees and Meetings - The Company has established four Board Committees: Audit, Remuneration, Nomination, and Corporate Governance, each with distinct roles and responsibilities[145] - The Audit Committee held two meetings during the year, with all members attending both sessions[144] - The Remuneration Committee also conducted two meetings, reviewing and recommending remuneration packages for executive directors and senior management[153] - The Nomination Committee held two meetings during the year, with all members attending both meetings[166] Management and Leadership - The Group's management is conducted by senior management under the direction of the Board of Directors[126] - The management team comprises professionals with extensive experience in engineering, finance, and technology sectors, ensuring robust decision-making[105] - The Group's Chief Technology Officer, Dr. Ng Man Cheuk, oversees R&D and explores new business opportunities, having joined in 2014[92] Employee and Director Information - The Group had approximately 2,139 employees as of March 31, 2019, with 95 based in Hong Kong and Macao, and the rest primarily in Mainland China and Vietnam[86] - Directors participated in various training courses, seminars, and workshops during the year to enhance their skills[138] - The Company considers all INEDs to be independent, with no material relationships among Board members[128]