Financial Performance - The Group recorded a profit attributable to owners of the Company of approximately HK$80.6 million for the year ended 31 December 2024, compared to a loss of approximately HK$163.9 million in 2023[16]. - Basic earnings per share was approximately HK5.1 cents, a significant improvement from the basic loss per share of approximately HK10.5 cents in 2023[16]. - The Group recorded revenue from continuing operations of approximately HK$725.5 million in 2024, representing an increase of 1.2% compared to HK$716.7 million in 2023[29]. - Gross profit from continuing operations increased by 39.1% to approximately HK$176.8 million in 2024, up from HK$127.1 million in 2023[30]. - Other income from continuing operations decreased by 18.6% to approximately HK$18.8 million in 2024, down from HK$23.1 million in 2023[31]. - Selling and distribution expenses decreased by 22.6% to approximately HK$13.7 million in 2024, compared to HK$17.7 million in 2023[37]. - Administrative expenses increased by 7.7% to approximately HK$75.7 million in 2024, up from HK$70.3 million in 2023[38]. - Finance costs from continuing operations decreased slightly by 2.4% to approximately HK$4.1 million in 2024, down from HK$4.2 million in 2023[42]. - The turnaround from loss to profit was primarily due to a decrease in impairment loss on interest in an associate by approximately HK$66.4 million and a decrease in impairment loss on goodwill by approximately HK$92.7 million[51]. - Return on equity increased from -7.2% in 2023 to 3.8% in 2024, and return on total assets increased from -5.5% to 3.0%[58]. Dividends - The Board proposed a final dividend of HK2.0 cents per share for the year ended 31 December 2024, while no final dividend was recommended for 2023[16]. - The proposed final dividend is subject to shareholder approval at the upcoming annual general meeting and will be payable on or about June 30, 2025[137]. - The register of members will be closed from June 2, 2025, to June 6, 2025, for determining entitlement to attend and vote at the annual general meeting[138]. - The Board recommended a final dividend of HK2 cents per share for the year ended December 31, 2024, while no final dividend was recommended for the year ended December 31, 2023[137]. - The register of members will be closed from June 13, 2025, to June 17, 2025, for the proposed final dividend[142]. Operational Strategy - The Group focused resources on Bengbu Jinhuangshan Rotogravure Printing Co., Ltd. to achieve centralized management and production, improving cost control and production efficiency[15]. - The centralized production strategy is expected to reduce the administrative burden related to environmental protection compliance across different subsidiaries[15]. - The Group aims to optimize its asset portfolio and focus on core businesses while exploring acquisitions and disposals to achieve sustainable growth[23]. - The Group plans to continue expanding into other packaging markets and increase participation in tenders to maximize income from investment properties[21]. - The Group's corporate mission includes improving financial performance and broadening revenue streams within acceptable risk levels[22]. Compliance and Governance - The Group has maintained compliance with all relevant rules and regulations in the PRC that significantly impact its operations[12]. - The Group's success relies on strong relationships with key stakeholders, including state-owned cigarette manufacturers[12]. - The Group's performance is closely tied to the regulatory environment and support from stakeholders such as shareholders and local communities[12]. - The Company has complied with the disclosure requirements of Chapter 14A of the Listing Rules regarding related party transactions, specifically the purchase of printing and packing machineries[136]. - The Company has adopted the Corporate Governance Code and generally complied with it during the year ended December 31, 2024[181]. Financial Position - As of 31 December 2024, the Group had net current assets of approximately HK$655.4 million, an increase from approximately HK$577.7 million in 2023[59]. - The Group's outstanding bank borrowings as of 31 December 2024 were approximately HK$207.2 million, up from approximately HK$131.6 million in 2023[60]. - The Group's net cash position improved to approximately HK$424.2 million in 2024 from approximately HK$236.1 million in 2023[60]. - The Group's current ratio improved to 2.3 times in 2024 from 2.2 times in 2023, while the quick ratio improved to 2.2 times from 2.0 times[57]. - The Group's reserves available for distribution as of December 31, 2024, amounted to approximately HK$6,188.9 million[100]. Employee and Remuneration - The total remuneration cost incurred by the Group for the year ended December 31, 2024, was approximately HK$69.8 million, down from approximately HK$84.8 million in 2023, with a reduction in the number of employees from 582 to 454[77]. - The Group's retirement benefit scheme costs charged to the consolidated statement for the year ended December 31, 2024, were approximately HK$4.2 million, a decrease from HK$5.0 million in 2023[120]. Investments and Acquisitions - The Group completed the disposal of a 70% equity interest in Jiangsu HY Link for a cash consideration of RMB51.1 million, with the transaction finalized in the second half of 2024[74]. - An acquisition of approximately 86.67% of a 17-storey commercial building in Hong Kong is planned for a total cash consideration of HK$388 million, expected to complete on or before July 31, 2025[78]. - The Group has not held any significant investments representing more than 5% of total assets nor made any material acquisitions or disposals during the year ended December 31, 2024[73]. Risk Management - The Group maintained a healthy liquidity position throughout 2024, with ongoing credit assessments to reduce exposure to credit risk[68]. - The Group's treasury policy emphasizes prudent financial management to ensure liquidity can meet funding requirements[68]. Environmental and Social Responsibility - Further details on environmental and social responsibility will be published in a separate report available on the Company's and Hong Kong Stock Exchange's websites[12]. - The Board has overall responsibility for the Company's ESG strategy and conducts regular reviews of ESG-related matters[177]. - The Group did not make any charitable donations during the year, consistent with 2023[113].

Financial Performance - Total revenue for the year ending December 31, 2024, was HKD 725,453,000, representing an increase from HKD 716,658,000 in the previous year, a growth of approximately 1.1%[2] - Gross profit for the same period was HKD 176,781,000, up from HKD 127,139,000, indicating a significant increase of approximately 39%[2] - Other income increased to HKD 23,146,000 from HKD 18,825,000, reflecting a growth of about 22.5%[2] - The company reported a loss before tax of HKD 139,784,000, compared to a profit of HKD 95,790,000 in the previous year, marking a decline of approximately 246%[2] - Administrative expenses rose to HKD 75,748,000 from HKD 70,258,000, an increase of about 7%[2] - The company experienced a net loss of HKD 156,143,000 from continuing operations, compared to a profit of HKD 78,471,000 in the previous year, indicating a significant downturn[2] - The cost of sales increased to HKD 589,519,000 from HKD 548,672,000, which is an increase of approximately 7.4%[2] - The company reported a net profit of HKD 79,357,000 for the fiscal year, compared to a loss of HKD 163,699,000 in the previous year[3] - The basic earnings per share for continuing operations was HKD 0.050, an improvement from a loss of HKD 0.100 in the prior year[3] - The total comprehensive income for the year was HKD 36,093,000, compared to a loss of HKD 255,767,000 in the previous year[3] Revenue Breakdown - Total revenue for the year ended December 31, 2024, was HKD 748,957,000, compared to HKD 762,322,000 for the previous year, representing a decrease of approximately 1.5%[21] - Revenue from the sale of goods for the year ended December 31, 2024, was HKD 675,700,000, down from HKD 683,557,000 in 2023, indicating a decline of about 1.3%[21] - Investment property rental income increased to HKD 49,753,000 in 2024 from HKD 33,101,000 in 2023, reflecting a growth of approximately 50.5%[21] - Revenue from discontinued operations for the year ended December 31, 2024, was HKD 23,504,000, compared to HKD 45,664,000 in 2023, showing a decrease of about 48.6%[21] - The total revenue from continuing operations for the year ended December 31, 2024, was HKD 725,453,000, slightly down from HKD 716,658,000 in 2023, a decrease of around 1.0%[21] - The revenue from the printing and manufacturing of paper packaging for the year ended December 31, 2024, was HKD 644,724,000, compared to HKD 607,056,000 in 2023, an increase of approximately 6.2%[25] Operational Strategies - The company has plans for market expansion and new product development to drive future growth[2] - The overall performance indicates a need for strategic adjustments to improve profitability moving forward[2] - The company is focusing on enhancing operational efficiency to mitigate rising costs and improve margins[2] - The company plans to focus on market expansion and new product development in the upcoming fiscal year[3] - The company has initiated new strategies to enhance operational efficiency and reduce costs[3] - The company aims to improve user data analytics to better understand market trends and customer preferences[3] Asset and Liability Management - Total assets decreased from HKD 2,218,066,000 in 2023 to HKD 2,186,951,000 in 2024, a decline of approximately 1.4%[5] - Current liabilities increased slightly from HKD 496,574,000 in 2023 to HKD 496,574,000 in 2024, remaining stable[5] - The company's cash and cash equivalents rose significantly from HKD 345,798,000 in 2023 to HKD 570,949,000 in 2024, an increase of about 65%[5] - The total non-current assets decreased from HKD 1,640,350,000 in 2023 to HKD 1,531,522,000 in 2024, a reduction of approximately 6.6%[4] - The company's equity attributable to shareholders increased from HKD 2,131,555,000 in 2023 to HKD 2,138,065,000 in 2024, a growth of about 0.3%[6] Corporate Governance and Compliance - The financial statements comply with the Hong Kong Financial Reporting Standards and the applicable disclosure requirements of the Stock Exchange[8] - The company has adopted new amendments to the Hong Kong Financial Reporting Standards, which do not have any significant impact on the consolidated financial statements[12] - The financial statements have been prepared consistently with the accounting policies adopted in the previous year[9] - The company ensures that all amounts are rounded to the nearest thousand, providing clarity in financial reporting[9] - The company is committed to high standards of corporate governance and has generally complied with the corporate governance code, except for specific provisions[93] Future Outlook - The outlook for the Chinese economy remains uncertain due to global inflation and geopolitical tensions, which may adversely affect the group's operating environment in 2025[85] - The group aims to continue focusing on paper packaging as a solid foundation for development and seeks to maximize returns from investment properties[86] - The group will actively expand into other packaging markets while implementing cost control measures to mitigate pressure on gross margins[86] - The company will continue to optimize its asset portfolio by selling non-core assets and focusing on core business development to achieve sustainable growth and enhance profitability[87]

LITU HOLDINGS LIMITED 力圖控股有限公司 Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立之有限公司 Stock Code 股份代號 : 1008 INTERIM REPORT 中 期 報 告 Contents 目 錄 | --- | --- | --- | --- | --- | |-------|------------------------------------------------------------------------------------------|-------|-------|-------| | | | | | | | | Corporate information 公司資料 | | | 2 | | | Management discussion and analysis 管理層討論及分析 | | | 5 | | | Other information 其他資料 | | | 16 | | | Report on review of condensed consolida ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 318,598,000, a decrease of 5.2% compared to HKD 335,460,000 for the same period in 2023[1] - Gross profit increased to HKD 79,048,000, representing a significant increase of 41.9% from HKD 55,698,000 in the prior year[1] - The net profit before tax for continuing operations was HKD 42,965,000, compared to a loss of HKD 34,986,000 in the same period last year[1] - The total comprehensive loss for the period was HKD 17,620,000, a significant improvement from a loss of HKD 145,624,000 in the prior year[2] - The company reported a basic and diluted loss per share from continuing operations of HKD 0.020, compared to a loss of HKD 0.027 in the same period last year[2] - The company achieved a profit attributable to owners of approximately HKD 28.8 million for the six months ended June 30, 2024, compared to a loss of HKD 51.3 million for the same period in 2023, indicating a significant turnaround[34] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 1,573,170,000, down from HKD 1,640,350,000 as of March 31, 2023[3] - Cash and cash equivalents increased to HKD 501,593,000 from HKD 345,798,000 in the previous year, indicating improved liquidity[3] - As of June 30, 2024, the total assets minus current liabilities amounted to HKD 2,189,633,000, compared to HKD 2,218,066,000 as of December 31, 2023, reflecting a decrease of approximately 1.3%[4] - The total liabilities were reported at HKD 508,288,000 as of June 30, 2024, compared to HKD 495,461,000 as of December 31, 2023, indicating an increase of approximately 2.7%[4] - The company’s total equity was reported at HKD 2,139,035,000, down from HKD 2,156,655,000, indicating a decrease of about 0.8%[4] Revenue Streams - The sales of goods in the printing and manufacturing segment amounted to HKD 301,621,000, down 5.9% from HKD 320,692,000 in the previous year[12] - Rental income from investment properties increased to HKD 16,977,000, up 14.9% from HKD 14,768,000 year-on-year[11] - The revenue from the sales of frequency identification products was HKD 23,504,000, an increase of 12.9% compared to HKD 20,857,000 in the same period last year[12] - The group’s revenue from external customers primarily came from the People's Republic of China, indicating a strong market presence in that region[14] - The printing and manufacturing segment reported a revenue decrease of 6.0% to HKD 301.6 million for the six months ended June 30, 2024, down from HKD 320.7 million for the same period in 2023[35] Operational Efficiency - The cost of sales decreased to HKD 239,550,000 from HKD 279,762,000, reflecting improved operational efficiency[1] - The segment performance for the printing and manufacturing division showed a profit of HKD 68,812 thousand for 2024, down from HKD 47,930 thousand in 2023, indicating a significant increase in profitability[15][16] - The company is centralizing production and management at its subsidiary in Bengbu to improve cost control and production efficiency, which is expected to enhance returns to shareholders[36] Tax and Expenses - The tax expense for continuing operations was HKD 11,278 thousand for 2024, compared to HKD 7,238 thousand for 2023, representing an increase of approximately 56.4%[18][19] - Administrative expenses increased by approximately 21.6% to about HKD 39,400,000, primarily due to salary and other benefits[44] - Financing costs decreased by approximately 9.1% to about HKD 2,000,000, attributed to a reduction in average bank borrowings[45] Dividends - The company declared an interim dividend of HKD 0.02 per share for the six months ended June 30, 2024, totaling approximately HKD 31,358,000, compared to zero for the same period in 2023[23] - The board proposed an interim dividend of HKD 0.02 per share for the review period, compared to no dividend in 2023[63] Future Plans and Market Strategy - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[1] - The company is focusing on increasing participation in tenders and seeking new market opportunities to mitigate the impact of declining tender prices and inflation[36] - The company is implementing measures to simplify management structures and improve decision-making efficiency in response to market challenges[34] Employee and Management - The company employed 8 and 615 full-time employees in Hong Kong and China respectively as of June 30, 2024[62] - The roles of the chairman and CEO are not held by the same individual, with the chairman being Mr. Wong Man Yu[65] Governance and Compliance - The company has adhered to the corporate governance code, with some exceptions regarding independent non-executive directors serving over nine years[64] - The audit committee reviewed the accounting principles and internal controls during the review period[67]

Financial Performance - The Group's total revenue from continuing operations decreased by 22.8% from approximately HK$928.5 million in 2022 to approximately HK$716.7 million in 2023[12]. - The Group recorded a loss attributable to owners of the Company of approximately HK$163.9 million, compared to a profit of approximately HK$6.2 million in 2022, resulting in basic losses per share of approximately HK16.3 cents[18]. - Revenue from the printing and manufacturing of paper packages and related materials was approximately HK$683.6 million, down from HK$890.6 million in 2022, accounting for approximately 95.4% of total revenue[32]. - Other income from continuing operations decreased by 29.3% to approximately HK$23.1 million in 2023, down from approximately HK$32.7 million in 2022, mainly due to a reduction in government grants[34]. - Other losses from continuing operations amounted to HK$167.5 million in 2023, compared to other gains of HK$15.9 million in 2022, primarily due to impairment losses on interests in an associate and goodwill[39]. - The share of results of associates turned from a profit of approximately HK$1.6 million for the year ended 31 December 2022 to a loss of approximately HK$30.4 million for the year ended 31 December 2023[48]. - Loss attributable to owners of the Company was approximately HK$163.9 million for the year ended 31 December 2023, compared to a profit of approximately HK$6.2 million for the year ended 31 December 2022[59]. - The loss was primarily due to a decline in share of results of an associate of approximately HK$32.0 million and recognition of impairment losses totaling approximately HK$159.1 million on interests in associates and goodwill[60]. Cost Management and Efficiency - The Group implemented measures to enhance inventory management and improve decision-making efficiency in response to operating pressures from declining tender prices and rising raw material costs[13]. - The Group focused resources on centralized management and production at Bengbu Jinhuangshan Rotogravure Printing Co., Ltd. to improve cost control and production efficiency[17]. - The Group's measures included implementing a tendering system for raw material purchases to enhance bargaining power and control costs[13]. - Selling and distribution expenses decreased by 22.4% to approximately HK$17.7 million in 2023 from approximately HK$22.8 million in 2022[41]. - Administrative expenses decreased by 36.0% to approximately HK$70.3 million in 2023 from approximately HK$109.8 million in 2022[42]. - Finance costs from continuing operations decreased by 57.7% from approximately HK$10.0 million for the year ended 31 December 2022 to approximately HK$4.2 million for the year ended 31 December 2023[46]. - The Group's total remuneration cost for the year ended 31 December 2023 was approximately HK$84.8 million, a decrease from approximately HK$127.3 million in 2022[90]. Economic Environment - The GDP of the People's Republic of China increased by 5.2% in 2023, higher than the 3.0% increase in 2022[11]. - The economic outlook for the PRC remains uncertain due to global inflation and various geopolitical factors, which may adversely affect the Group's operating environment in 2024[19]. - The outlook for the global and Chinese economy remains uncertain, which may adversely affect the Group's operating environment in 2024[22]. Dividends and Shareholder Returns - The Board does not recommend the payment of a final dividend for the year ended 31 December 2023, compared to HK4 cents per share in 2022[18]. - As of December 31, 2023, the company's reserves available for distribution amounted to approximately HK$6,222.3 million[113]. Assets and Liabilities - The Group's current ratio improved to 2.2 times in 2023, up from 1.5 times in 2022[65]. - The quick ratio also improved to 2.0 times in 2023, compared to 1.3 times in 2022[65]. - As of December 31, 2023, the Group had net current assets of approximately HK$577.7 million, an increase from approximately HK$321.1 million in 2022[67]. - The Group's bank balances and cash amounted to approximately HK$345.8 million as of December 31, 2023, compared to approximately HK$313.3 million in 2022[67]. - Outstanding bank borrowings decreased to approximately HK$131.6 million in 2023 from approximately HK$266.6 million in 2022[68]. - The Group's net cash position improved to approximately HK$236.1 million in 2023, up from approximately HK$137.9 million in 2022[68]. - Capital commitments increased to approximately HK$39.6 million in 2023, compared to approximately HK$7.4 million in 2022, mainly related to the development of an industrial park[76]. Corporate Governance and Compliance - The Group has complied with all relevant rules and regulations in the PRC that significantly impact its operations[98]. - The company has complied with the disclosure requirements of Chapter 14A of the Listing Rules regarding related party transactions[157]. - The company has maintained liability insurance for Directors and officers throughout the year[162]. - All three independent non-executive Directors have confirmed their independence as per the Listing Rules[149]. - The company has taken steps to ensure that all Directors are indemnified against actions incurred in the execution of their duties[161]. - The company generally complies with the Corporate Governance Code, with exceptions noted in provisions B.2.4(b), C.1.6, and C.2.1[198]. Employee and Social Responsibility - As of 31 December 2023, the Group had 582 employees, down from 663 in 2022[90]. - The Group emphasizes workplace safety, employee relations, and efficient resource use as part of its corporate culture[192]. - The Board is responsible for the Company's ESG strategy and conducts regular reviews of ESG-related matters[194]. - The board regularly reviews the company's environmental, social, and governance (ESG) performance and risks, ensuring adequate resources and training programs are in place[197].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported revenue from continuing operations of HKD 716,658,000, a decrease of 22.8% compared to HKD 928,475,000 in the previous year[11]. - The company recorded a loss from continuing operations of HKD 156,143,000, compared to a loss of HKD 1,290,000 in the previous year, indicating a significant decline in performance[11]. - The company reported a net loss before tax of HKD 139,784,000, compared to a profit of HKD 7,351,000 in the previous year, highlighting a substantial downturn[11]. - The total comprehensive loss for the year amounted to HKD 255,767,000, compared to HKD 196,510,000 in the previous year, representing an increase of 30%[2]. - The company’s basic and diluted loss per share from continuing operations was HKD (0.100), compared to HKD (0.001) in the previous year[2]. - The company reported a significant loss attributable to shareholders, mainly due to a decrease in the share of joint venture performance by approximately HKD 32,000,000 and goodwill impairment losses of approximately HKD 92,700,000[113]. - The group reported a loss attributable to shareholders of approximately HKD 163.9 million for the year ended December 31, 2023, compared to a profit of HKD 6.2 million in 2022[140]. Revenue and Income - Other income for the year was HKD 23,146,000, down from HKD 32,743,000, reflecting a decrease of 29.3%[11]. - The company’s total revenue for the year ended December 31, 2023, was HKD 729,221 thousand, compared to HKD 683,145 thousand in 2022, reflecting a growth of approximately 6.7%[30]. - The total revenue from continuous operations was HKD 762,322 thousand, down from HKD 1,022,402 thousand, a decrease of 25.4%[44]. - The revenue from the printing and manufacturing of paper packaging and related materials was approximately HKD 683.6 million, accounting for about 95.4% of total revenue in 2023[130]. - Total revenue for the year ended December 31, 2023, was HKD 683,557,000, compared to HKD 607,056,000 in 2022, representing an increase of approximately 12.6%[190]. Costs and Expenses - The cost of sales for the year was HKD 589,519,000, down from HKD 828,810,000, resulting in a gross profit of HKD 127,139,000, an increase of 27.7% from HKD 99,665,000[11]. - Employee costs for continuing operations amounted to HKD 78.353 million in 2023, down 32.6% from HKD 116.216 million in 2022[88]. - The cost of inventory for continuing operations was HKD 452.558 million in 2023, a decrease of 24.1% from HKD 596.720 million in 2022[88]. - Sales and distribution expenses for the year ending December 31, 2023, decreased by 22.4% to approximately HKD 17,700,000 from HKD 22,800,000 for the year ending December 31, 2022, primarily due to reduced transportation and hospitality costs[107]. - Administrative expenses for the year ending December 31, 2023, decreased by 36.0% to approximately HKD 70,300,000 from HKD 109,800,000 for the year ending December 31, 2022[108]. Assets and Liabilities - Total assets decreased from HKD 2,554,213 thousand in 2022 to HKD 2,218,066 thousand in 2023, a decline of approximately 13.2%[14]. - Current liabilities decreased from HKD 640,448 thousand in 2022 to HKD 495,461 thousand in 2023, a reduction of about 22.7%[14]. - Trade receivables decreased from HKD 363,892 thousand in 2022 to HKD 242,576 thousand in 2023, a drop of approximately 33.3%[14]. - The company reported a net asset value of HKD 2,156,655 thousand in 2023, down from HKD 2,475,137 thousand in 2022, a decrease of about 12.9%[14]. - The group’s current ratio improved to 2.2 times in 2023 from 1.5 times in 2022, and the quick ratio improved to 2.0 times from 1.3 times[143]. Strategic Plans and Future Outlook - The company plans to focus on new product development and market expansion strategies to improve future performance[11]. - The company aims to enhance operational efficiency and reduce costs in response to the challenging market conditions[11]. - The company plans to expand its market presence in Brazil, India, Turkey, Portugal, and South Korea[55]. - The group aims to optimize its asset portfolio by selling non-core assets and focusing on core business development to enhance profitability and shareholder returns[155]. - The group plans to continue expanding its market presence in packaging while seeking maximum returns from investment properties[155]. Governance and Management - The company is committed to maintaining a clear division of responsibilities between the Chairman and the CEO, as per governance guidelines[182]. - The company has not yet appointed an individual to fill the vacancy of the Chief Executive Officer since the resignation of the previous CEO on April 22, 2022[183]. - The company is currently undergoing a review by the audit committee, indicating a focus on financial oversight and compliance[184]. Market Conditions and Challenges - The company has faced operational pressure due to increased competition and rising raw material costs in the tobacco industry[100]. - The economic outlook for China remains uncertain due to global inflation, competition between the US and China, and ongoing geopolitical tensions, which may adversely affect the Group's business environment in 2024[176].

Financial Performance - For the six months ended June 30, 2023, the company achieved revenue from continuing operations of approximately HK$335.5 million, with a total loss attributable to owners amounting to approximately HK$51.3 million and a total basic loss per share of approximately HK$0.033[9]. - Revenue from continuing operations decreased by approximately HK$144.0 million or 30.0% to HK$335.5 million compared to the same period in 2022[30]. - Revenue for the six months ended June 30, 2023, was HK$356,317,000, a decrease of 31.6% compared to HK$521,200,000 for the same period in 2022[183]. - The overall financial performance for the first half of 2023 indicates a significant decline in revenue across various segments compared to the previous year[183]. - The company reported a basic and diluted loss per share of HK$0.033 for the total operations, compared to earnings of HK$0.011 in the previous year[129]. - Total comprehensive loss for the period was HK$145,624,000, compared to HK$68,044,000 in the previous year, reflecting an increase of 114%[131]. Revenue Breakdown - Revenue from the sale of goods in continuing operations was HK$320,692,000, down 31.0% from HK$465,232,000 in the previous year[186]. - Revenue from discontinued operations, specifically from the sale of RFID products, was HK$20,857,000, a decline of 50.0% from HK$41,686,000 in the prior year[186]. - The Group's revenue from printing cigarette packages was HK$276,037,000, down 27.2% from HK$379,175,000 in the previous year[186]. - Manufacturing of paper packaging materials generated revenue of HK$42,995,000, a decrease of 49.3% compared to HK$84,858,000 in the same period last year[186]. - Revenue from investment properties leasing increased slightly to HK$14,768,000 from HK$14,282,000, reflecting a growth of 3.4%[183]. Economic Environment - The gross domestic product (GDP) of the People's Republic of China increased by 5.5% compared to 2022, but the global economic outlook remains uncertain due to high inflation and geopolitical tensions[10]. - The ongoing geopolitical tensions and inflationary pressures are expected to adversely affect the company's operating environment in the second half of 2023[10]. Cost Management and Profitability - The company implemented measures to cope with profitability challenges, including simplifying management structure and enhancing inventory management[12]. - The company centralized its production resources to improve cost control and production efficiency, particularly in response to stringent environmental protection requirements[18]. - Selling and distribution expenses decreased by approximately HK$3.4 million or 34.2% to HK$6.6 million compared to the previous year[42]. - Administrative expenses decreased by approximately HK$39.0 million or 54.6% compared to the same period in 2022[43]. - Finance costs decreased by approximately HK$3.4 million or 61.0% due to a reduction in bank borrowings and interest rates[44]. Assets and Liabilities - As of June 30, 2023, net current assets increased to approximately HK$375.0 million from HK$321.1 million as of December 31, 2022, primarily due to a decrease in bank borrowings[58]. - Bank borrowings (repayable within one year) decreased to approximately HK$129.4 million from HK$266.6 million as of December 31, 2022[63]. - Total assets less current liabilities decreased to HK$2,328,306, down from HK$2,554,213 as of December 31, 2022, representing a decline of approximately 8.8%[134]. - Current liabilities decreased to HK$518,480 from HK$640,448, a reduction of approximately 19.0%[134]. Corporate Governance - The Company has complied with the Corporate Governance Code, except for specific provisions regarding independent non-executive directors[99]. - The roles of chairman and chief executive officer are currently performed collectively by all executive directors since April 22, 2022[102]. - The audit committee consists of three independent non-executive Directors and one non-executive Director, ensuring oversight of financial reporting[118]. Future Outlook - The Group plans to maximize leasing income from investment properties and actively expand into other packaging markets[25]. - The Group aims to explore acquisition opportunities and diversification into other profitable businesses for sustainable growth[26]. - Future outlook may include potential new product developments and market strategies to enhance revenue streams[200]. Shareholder Information - As of June 30, 2023, Mr. Cai Xiao Ming, David holds 901,456,892 shares, representing approximately 57.50% of the issued share capital[96]. - Profitcharm Limited, beneficially owned by Mr. Cai, holds 274,325,278 shares, accounting for about 17.50% of the issued share capital[96]. - The Company has not purchased, sold, or redeemed any of its securities during the review period[98].

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布之內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 因本公布全部或任何部分內容而產生或因依賴該等內容而引致之任何損 失承擔任何責任。 LITU HOLDINGS LIMITED 力 圖 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1008） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 業 績 公 布 力圖控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公布本公司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月（「回 顧期間」）的未經審核簡明綜合業績，連同二零二二年同期的比較數字如下： 簡明綜合全面收益報表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 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： 收益 4 335,460 479,514 銷售成本 (279,762) (423,810) ...

Financial Performance - The profit attributable to the owners of the Company decreased by 28.1% from approximately HK$8.6 million for the year ended 31 December 2021 to approximately HK$6.2 million for the year ended 31 December 2022[7]. - Total revenue declined by 15.0% from approximately HK$1,158.9 million in 2021 to approximately HK$984.5 million in 2022, with a gross profit margin decreasing from 13.9% to 10.5%[13]. - Gross profit decreased by 36.2% from approximately HK$161.5 million in 2021 to approximately HK$103.1 million in 2022, primarily due to decreased revenue and increased raw material prices[15]. - Profit attributable to owners decreased by 28.1% from approximately HK$8.6 million in 2021 to approximately HK$6.2 million in 2022, with basic earnings per share at approximately HK$0.4 cents[80]. - The share of results from associates decreased by 97.8% from approximately HK$70.1 million in 2021 to approximately HK$1.6 million in 2022, primarily due to the decline in profitability of Changde Gold Roc Printing Co., Ltd.[94]. - The effective tax rate increased from 34.8% in 2021 to 50.1% in 2022, primarily due to a decrease in overprovision of enterprise income tax in prior years[118]. Revenue and Customer Concentration - The Group's five largest customers accounted for approximately 63.1% of total revenue, with the largest customer contributing about 35.9%[24]. - Revenue from the printing and manufacturing of paper packages and related materials was approximately HK$888.1 million in 2022, down from HK$1,053.5 million in 2021, accounting for approximately 90.2% of total revenue[87]. - Aggregate sales to the Group's five largest customers accounted for approximately 63.1% of total revenue, with the largest customer contributing approximately 35.9%[168]. Assets and Liabilities - As of 31 December 2022, the Group's net current assets were approximately HK$321.1 million, down from approximately HK$398.1 million in 2021[9]. - The Group's cash and bank balances were approximately HK$313.3 million as of 31 December 2022, compared to approximately HK$440.4 million in 2021[9]. - As of December 31, 2022, the Group's outstanding bank borrowings were approximately HK$266.6 million, down from approximately HK$342.4 million in 2021[128]. - The Group's net cash position improved to approximately HK$137.9 million in 2022 from approximately HK$106.9 million in 2021[129]. - The current ratio remained stable at 1.5 times for both 2021 and 2022, while the quick ratio decreased slightly from 1.4 times in 2021 to 1.3 times in 2022[127]. - The Group's gearing ratio as of December 31, 2022, was –5.6%, compared to –4.0% in 2021, indicating a net cash position relative to total equity[129]. Operational Changes and Strategies - The Group plans to explore new investments and divest subsidiaries to achieve sustainable growth and enhance profitability[4]. - The Group plans to focus resources on Bengbu Jinhuangshan Rotogravure Printing Co., Ltd. to improve cost control and production efficiency[59]. - The Group completed the acquisition of Eagle Swift Limited on January 26, 2022, which is expected to provide stable rental income and potential long-term appreciation in property value[84]. - The Group aims to explore new investment opportunities and diversify into other profitable businesses for sustainable growth[60]. - The Group plans to centralize production at its subsidiary in Bengbu to improve cost control and production efficiency[85]. Economic Outlook - The outlook for the global and PRC economy remains uncertain due to factors such as global inflation and geopolitical tensions, which may adversely affect the Group's operating environment in 2023[3]. - The Group anticipates challenges in 2023 due to global inflation and geopolitical tensions affecting the operating environment[58]. - The GDP of the PRC increased by 3.0% in 2022, lower than the 8.1% growth in 2021[77]. Employee and Remuneration - As of December 31, 2022, the Group employed 663 staff, down from 978 in 2021, with total remuneration costs of approximately HK$127.3 million in 2022 compared to HK$155.5 million in 2021[136]. - The total remuneration cost incurred by the Group for the year ended December 31, 2022, was approximately HK$127.3 million, a decrease from approximately HK$155.5 million in 2021[162]. - The Group had 663 employees as of December 31, 2022, down from 978 in 2021[162]. Dividends and Commitments - The Board recommended a final dividend of HK$0.04 per share for the year ended December 31, 2022, compared to no dividend in 2021[140]. - The proposed final dividend for the year ended December 31, 2022, is HK$0.04 per share, compared to no dividend in 2021[169]. - The Group had capital commitments of approximately HK$7.4 million as of December 31, 2022, significantly down from approximately HK$268.6 million in 2021[131]. - The Group's capital commitments for property, plant, and equipment as of December 31, 2022, were approximately HK$7.4 million, significantly reduced from approximately HK$268.6 million in 2021[158]. Other Financial Metrics - Other income increased by 24.6% from approximately HK$41.6 million in 2021 to approximately HK$51.8 million in 2022[64]. - Finance costs decreased by 29.3% from approximately HK$14.4 million in 2021 to approximately HK$10.2 million in 2022[67]. - The average bank borrowings rate and balance decreased in 2022, leading to improved bank loan portfolio management[90]. - The Group's return on equity decreased from 0.3% in 2021 to 0.2% in 2022, while return on total assets remained stable at 0.2%[102]. - The Group's treasury policy focuses on prudent financial management to ensure liquidity and meet funding requirements[157]. - The Group maintained a healthy liquidity position throughout 2022, with ongoing credit assessments to manage credit risk[157]. - The Group made charitable and other donations amounting to HK$0.018 million during the year, compared to HK$0.016 million in 2021[173].

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布的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 因本公布全部或任何部分內容而產生或因依賴該等內容而引致的任何損 失承擔任何責任。 LITU HOLDINGS LIMITED 力 圖 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1008） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 布 力圖控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公布本公司 及其附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度的 綜合業績，連同二零二一年同期的比較數字如下： 綜合全面收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 收益 3 984,495 1,158,852 ...