Financial Performance - The company reported a significant increase in revenue, achieving a total of $X million, representing a Y% growth compared to the previous year[1] - The company reported revenue of approximately HKD 181.1 million for the year ended December 31, 2022, representing a 71.5% increase from HKD 105.6 million in 2021[26] - The group achieved revenue of approximately HKD 181.1 million for the year ended December 31, 2022, compared to HKD 105.6 million in the previous year, marking a year-over-year increase of 71.5%[60] - The revenue breakdown for the year ended December 31, 2022, showed that 65.4% came from yacht manufacturing and sales, 19.1% from integrated circuits and semiconductor sales, and 15.5% from private aircraft and yacht management services[60] - The pre-tax profit for 2022 was HKD 3.4 million, a significant recovery from a loss of HKD 52.6 million in 2021[21] - The annual loss decreased by 95.8% to HKD 2.2 million in 2022, compared to a loss of HKD 52.8 million in the previous year[26] - The loss attributable to equity holders for the year ended December 31, 2022, was approximately HKD 2.2 million, a significant reduction from HKD 52.8 million in the previous year[62] User and Market Growth - User data showed an increase in active users, reaching Z million, which is a W% increase year-over-year[2] - The company provided guidance for the next quarter, projecting revenue between $A million and $B million, indicating a growth rate of C%[3] - New product launches are expected to contribute an additional $D million in revenue, with anticipated market penetration of E%[4] - Market expansion efforts include entering G new regions, which are projected to increase market share by H%[6] - The company aims to expand its yacht business and improve brand positioning to capitalize on market growth opportunities[30] - The yacht brokerage market shrank by 20% in 2022, but it remains 50% higher than in 2019 and nearly 80% higher than in 2020[30] Strategic Initiatives - The company is investing in R&D, allocating $F million towards new technologies aimed at enhancing product offerings[5] - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the I sector[7] - A new marketing strategy has been implemented, aiming to increase brand awareness by J% over the next year[8] - The company plans to establish production facilities in Hainan, benefiting from lower labor and material costs compared to overseas yacht manufacturers[30] - The company plans to establish a team for commodity trading, expecting this business to significantly increase revenue and improve cash flow, ultimately leading to new profit highs[31] Operational Efficiency - The company reported a decrease in operational costs by K%, improving overall profit margins[9] - Operating expenses totaled approximately HKD 75.3 million for the year ended December 31, 2022, an increase from HKD 59.4 million in the previous year, primarily due to yacht distribution costs[61] - The management acknowledges increasing competition in the integrated circuit market due to rapid technological advancements and rising production costs, leading to further pressure on profit margins[35] - The company intends to allocate more resources to the yacht business and other higher-margin developments in response to market conditions[35] Environmental and Social Responsibility - The company reported a total of 3.39 tons of non-hazardous waste generated in 2022, a decrease from 4.14 tons in 2021[97] - The total hazardous waste generated was 1.37 kilograms in 2022, consistent with the density of 0.04 kilograms per employee[97] - The company has implemented energy management measures, including using daylight for lighting and maintaining a minimum air conditioning temperature of 25.5 degrees Celsius[100] - The company aims to minimize air pollutant emissions from its vehicle fleet through regular maintenance and avoiding idling[93] - The company strictly adheres to environmental laws and regulations, with no reported violations in the current year[92] - The company has established waste management practices, including recycling and encouraging employees to reduce waste generation[96] Employee and Governance - The number of employees increased to 140 as of December 31, 2022, compared to 74 in 2021[74] - Employee distribution by age shows 17% under 30 years, 66% between 30 to 50 years, and 16% over 50 years[117] - The company has implemented a five-day work week and does not encourage overtime, ensuring compliance with labor laws[118] - The company provides competitive salaries and diverse benefits, including medical insurance and annual health check-ups[118] - The company has adhered to the corporate governance code as of December 31, 2022, with some deviations noted[197] - The board consists of 6 members, including 3 executive directors and 3 independent non-executive directors, meeting the minimum requirements[200] Financial Position - The total equity of the company decreased to HKD 47.2 million in 2022 from HKD 62.6 million in 2021[22] - The group had cash and cash equivalents of approximately HKD 104.3 million as of December 31, 2022, compared to HKD 86.2 million in the previous year[63] - The debt-to-equity ratio as of December 31, 2022, was approximately 89.8%, up from 78.8% in the previous year[64] - As of December 31, 2022, the company's shareholders' equity was approximately HKD 47.2 million, a decrease from HKD 62.6 million in 2021[68] Compliance and Risk Management - The group has adhered to relevant laws and regulations regarding customer data protection, with no violations reported for the year[131] - The group has implemented a management system to prevent commercial bribery and has established a reporting mechanism for suspected misconduct[135] - The company has not encountered any significant violations of employment laws during the year[117] - The company has not pledged any assets as of December 31, 2022, consistent with the previous year[69]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不會就因本公佈全部或任 何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 1798 巴克 集團有限公司 （於百慕達註冊成立之有限公司） 1010 （股份代號： ） 截至二零二二年十二月三十一日止年度 年度業績公佈 1798 巴克 集團有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈本公司及其附屬 公司（下文統稱「本集團」）截至二零二二年十二月三十一日止年度之綜合業績，連同 截至二零二一年十二月三十一日止年度之比較數字。 綜合損益表 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 5 181,076 105,619 收益 (96,481) (69,955) 銷售成本 84,595 35,664 毛利 6 927 10,941 其他收入及收益，淨額 (27,693) (10,244) 銷售及分銷成本 (47,588) (49,114) ...

Investment and Impairment - The company acquired a 20.2% stake in Red Power Group, which provides air transport services in China, and has recognized an impairment of HKD 20.3 million on this investment[2]. - By the end of 2021, the joint venture had nearly laid off all employees and ceased operations, prompting the company to impair its investment[3]. Joint Venture Performance - The joint venture held multiple licenses for its aviation-related business in China and employed 80 to 90 staff[3]. - The joint venture was profitable for the fiscal year ending 2020, but management changes and the prolonged COVID-19 pandemic negatively impacted its financial performance[3]. - The new management attempted to seek new business opportunities and implemented cost-cutting measures, but the company was unable to obtain financial data from the joint venture[3].

Revenue Performance - For the six months ended June 30, 2022, the integrated circuit and semiconductor parts design and sales segment recorded revenue of approximately HKD 22.7 million, an increase from HKD 20.1 million for the same period in 2021[13]. - The revenue from the private jet management segment decreased to approximately HKD 20.9 million for the six months ended June 30, 2022, down from HKD 33.3 million in the same period of 2021, due to reduced customer travel intent amid the pandemic[14]. - As of June 30, 2022, the group reported revenue of approximately HKD 43.6 million, a decrease from HKD 54.5 million for the same period in 2021, primarily from integrated circuits and semiconductor sales[27]. - Revenue for the six months ended June 30, 2022, was HKD 43,598,000, a decrease of 20% compared to HKD 54,469,000 for the same period in 2021[52]. - Revenue from external customers for the integrated circuit design and sales segment was HKD 22,681,000, while the private jet management segment generated HKD 20,917,000[77]. Business Segments and Strategy - The integrated circuit and semiconductor segment generated approximately 91% of its revenue from calipers and 9% from microcontrollers for the six months ended June 30, 2022, compared to 76% and 24% respectively in the same period of 2021[13]. - The group aims to maintain core businesses that generate reliable returns and have competitive advantages while seeking opportunities to enhance revenue and profitability[10]. - The yacht business is positioned strategically, with management recognizing the growth potential in the yacht industry, particularly due to increasing awareness among affluent consumers[16]. - Management emphasizes a customer-centric strategy in the private jet management business to improve service quality and expand service offerings[14]. - The group plans to focus on yacht agency and sales business due to the favorable outlook for the yacht industry[26]. Financial Performance - The group incurred a loss attributable to owners of approximately HKD 15.5 million for the six months ended June 30, 2022, compared to HKD 10.9 million in the same period of 2021[31]. - The company reported a loss before tax of HKD 15,454,000, compared to a loss of HKD 10,640,000 in the prior year, indicating a deterioration in performance[52]. - The total comprehensive loss for the period was HKD 21,880,000, up from HKD 14,256,000 in the previous year, reflecting increased losses[56]. - The company’s accumulated losses increased to HKD 109,630,000 as of June 30, 2022, from HKD 94,176,000 as of January 1, 2022[61]. - The company reported a significant increase in employee benefits expenses, totaling HKD 15,693 million, up from HKD 12,433 million[90]. Operating Expenses and Liabilities - The group’s operating expenses for the six months ended June 30, 2022, totaled approximately HKD 31.7 million, an increase from HKD 23.4 million in the previous year, mainly due to yacht business expansion[28]. - The company had a net cash outflow from financing activities of HKD 7,646,000 for the six months ended June 30, 2022, compared to a cash inflow of HKD 88,959,000 for the same period in 2021[63]. - The total liabilities of the company as of June 30, 2022, were HKD 328,253,000, with significant liabilities in the real estate investment segment amounting to HKD 202,366,000[77]. - The group’s debt ratio increased to approximately 87.9% as of June 30, 2022, up from 78.8% at the end of 2021, primarily due to shareholder loans[32]. Governance and Compliance - The company complied with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[42]. - The board of directors consists solely of independent non-executive directors, ensuring governance and oversight[50]. - The board approved the interim financial information on August 30, 2022, indicating ongoing governance and oversight of financial reporting processes[131]. Market Conditions and Challenges - The overall business environment remains challenging due to the ongoing impacts of the COVID-19 pandemic, affecting various segments of the group[9]. - The group noted that the competitive landscape in the integrated circuit market remains intense, with rising raw material and labor costs putting pressure on profit margins[13]. Employee and Management Information - The number of employees increased to 115 as of June 30, 2022, compared to 74 as of December 31, 2021[39]. - Total employee benefit expenses for the six months ended June 30, 2022, amounted to approximately HKD 15.7 million, up from HKD 12.4 million for the same period in 2021[39]. - The basic salaries and allowances for key management personnel increased to HKD 4,371 thousand for the six months ended June 30, 2022, compared to HKD 2,880 thousand in the previous year, representing a 52% increase[123].

PIHL 太 睿 國 際 控 敗 有 限 公 司 PacRay International Holdings Limited (於百慕達註冊成立之有限公司) 股份代號 : 1010 目錄 公司資料 董事及高級管理人員簡介 五年財務摘要 董事會函件 管理層討論及分析 環境、社會及管治報告 董事會報告 企業管治報告 獨立核數師報告 綜合損益表 綜合全面收益表 綜合財務狀況表 綜合權益變動表 綜合現金流量表 2 4 7 8 11 20 34 44 61 68 69 70 72 73 綜合財務報表附註 75 公司資料 | --- | --- | |----------------------------|----------------------------| | | | | 董事會 | 董事會委員會 | | 執行董事 | 核數委員會 | | 段洪濤先生 （主席） 附註 1 | 程晴女士 （主席） | | 李微娜女士 | 宋冬林先生 附註 7 | | 張福民先生 附註 2 | 張盛東先生 | | 劉文嘉女士 附註 3 | 翁鈺貞女士 附註 6 | | 楊林先生 附註 4 | | | 徐銀生先生 附註 5 | 提名委 ...

PIHD PacRay International Holdings Limited 太睿國際控股有限公司 ( 於百慕達註冊成立之有限公司 ) 股份代號 : 1010 中期報告 2021 目 錄 | --- | --- | |--------------------------|-------| | | | | 公司資料 2 | | | 管理層討論及分析 3 | | | 其他資料 12 | | | 簡明綜合中期損益表 17 | | | 簡明綜合中期全面收益表 | 18 | | 簡明綜合中期財務狀況表 | 19 | | 簡明綜合中期權益變動表 | 20 | | 簡明綜合中期現金流量表 | 21 | | 簡明綜合中期財務資料附註 | 22 | and registerial 公司資料 | --- | --- | |----------------------------|---------------------------------------| | 董事會 | 公司秘書 | | | | | 執行董事 | 周丹青先生 | | 段洪濤先生 （主席） 附註 1 | | | 李微娜女士 | 股份代號 | | 劉文嘉 ...

| --- | --- | --- | --- | |-------|--------------------------------------------------------|---------------------------------------------------------------------------------|-------| | | | | | | | PIHL | 太 容 国 除 控 股 有 限 公 司PacRay International Holdings Limited | | | | ( 於百慕達註冊成立之有限公司 ) 股份代號 : 1010 K. 0 . | | | | | � 9 . o ロ | | | | | | | | | | | | | | | | 報 | | | | | | | | | D | | | | | | | | ロ 目 錄 D o s | --- | --- | |------------------------|-------| | | | | 公司資料 2 | | | 董事及高級管理人員簡介 | 4 | | 五年財務摘要 7 | | | ...

Financial Performance - For the six months ended June 30, 2020, the group recorded total revenue of approximately HKD 35.3 million, compared to HKD 20.4 million for the same period in 2019, representing an increase of 73.0%[8]. - The group reported a loss attributable to equity holders of HKD 1.2 million for the six months ended June 30, 2020, a significant improvement from a loss of HKD 8.7 million in the same period of 2019, reflecting a reduction in losses by approximately 86.2%[8]. - The company achieved revenue of approximately HKD 35.3 million for the six months ended June 30, 2020, compared to HKD 20.4 million for the same period in 2019, marking an increase of 73.9%[46]. - Operating expenses for the same period were approximately HKD 22.9 million, up from HKD 20.5 million in 2019, primarily due to increased material costs, employee salaries, and administrative expenses[47]. - The company reported a net loss of HKD 1,243,000 for the period, compared to a net loss of HKD 9,652,000 in the same period last year, showing an improvement[109]. Revenue Segments - The integrated circuit and semiconductor components segment generated revenue of approximately HKD 12.5 million, down from HKD 14.0 million in the previous year, indicating a decrease of 10.7%[13]. - Revenue from the financing leasing business in China was approximately HKD 0.4 million for the six months ended June 30, 2020, up from HKD 0.1 million for the same period in 2019[18]. - The aircraft management and luxury yacht management business generated revenue of approximately HKD 22.5 million for the six months ended June 30, 2020, compared to HKD 5.9 million for the same period in 2019[25]. - Revenue for the six months ended June 30, 2020, was HKD 35,332,000, an increase of 73.5% compared to HKD 20,385,000 in the same period of 2019[77]. Strategic Initiatives - The group decided to terminate its building materials trading business and focus on recovering existing trade receivables, indicating a strategic shift in operations[9]. - The group plans to enhance product competitiveness and develop new product lines and distribution channels as part of its strategic initiatives[13]. - The company plans to acquire Red Power Developments Limited for approximately HKD 25.9 million, with the acquisition expected to be settled through the issuance of 33,658,000 shares at HKD 0.77 per share[34]. - The company intends to invest approximately HKD 30.3 million in Meiwang Limited, which will become a wholly-owned subsidiary upon completion of the acquisition[34]. Economic Challenges - The management remains cautious about future performance due to ongoing economic challenges, including the impact of COVID-19 and deteriorating US-China relations[9]. - Management maintains a cautious outlook for the second half of 2020 due to ongoing challenges from the COVID-19 pandemic and economic uncertainties[37]. Asset and Liability Management - The company's cash and cash equivalents stood at approximately HKD 9.6 million as of June 30, 2020, compared to HKD 8.5 million as of December 31, 2019[49]. - The debt ratio was approximately 33.1% as of June 30, 2020, down from 41.8% as of December 31, 2019, with no debt financing during the period[50]. - The total liabilities decreased from HKD 63,295 million to HKD 46,253 million, a reduction of approximately 26.9%[86]. - The company's total equity decreased from HKD 95,911 million to HKD 94,606 million, a decline of approximately 1.4%[86]. Shareholder Information - Major shareholder Yao Zheng International Holdings Limited held 43.49% of the shares as of June 30, 2020[68]. - Vision2000 Venture Ltd. also held 31.51% of the shares, indicating significant ownership concentration[68]. Compliance and Governance - The company complied with the corporate governance code, with some deviations noted due to the COVID-19 pandemic[58]. - The audit committee, composed solely of independent non-executive directors, reviewed the interim results for the six months ended June 30, 2020[74]. Credit Risk and Receivables - The company has established a credit control department to minimize credit risk and regularly reviews overdue balances[144]. - The expected credit loss rate for trade receivables was 1.65% as of June 30, 2020, up from 0.63% as of December 31, 2019, indicating a rise in credit risk[151]. - The impairment loss on receivables increased to HKD 2,252 thousand as of June 30, 2020, compared to HKD 38 thousand at the end of 2019, indicating a significant rise in credit risk[160].

Acquisitions and Business Strategy - The company acquired 70% of Shenzhen Qiping Technology Co., Ltd. in January 2019, enhancing its market presence in the technology sector[11] - The company is exploring strategic acquisitions to enhance its technological capabilities, with a budget allocation of $10 million for potential targets in 2020[3] - The company agreed to sell its entire stake in Shenzhen Qipin for HKD 2.5 million on March 28, 2020, with a buyback option for HKD 2.6 million within 12 months[47] - The company announced the acquisition of all issued shares and sales loans of Meiwang Limited for approximately HKD 30.3 million[99] - The group decided to exit the real-time 2D to 3D video display system development business in March 2020[32] Financial Performance - The company reported a significant increase in revenue, with a five-year financial summary indicating a growth of 15% year-over-year[3] - The group's revenue for the year ended December 31, 2019, was HKD 74,339,000, representing a 22.4% increase from HKD 60,709,000 in 2018[29] - The group recorded a net loss attributable to owners of the parent of HKD 21,065,000 in 2019, compared to HKD 40,187,000 in 2018[29] - The group reported a loss before tax of HKD 22,353,000 for 2019, an improvement from a loss of HKD 40,167,000 in 2018[29] - The group achieved revenue of approximately HKD 74.3 million for the year ended December 31, 2019, representing an increase of about 22.5% compared to HKD 60.7 million in 2018[69] Operational Efficiency and Cost Management - The company aims to improve operational efficiency, targeting a 10% reduction in costs through process optimization initiatives[3] - The group will continue to maintain a conservative approach to business operations, focusing on cost control and avoiding unnecessary expenses[42] - The management noted significant increases in material costs and default rates in financing services as potential challenges for the group[34] - The group adopted a cautious and prudent operational approach due to increasing economic uncertainty and challenges in achieving business growth[34] Market Expansion and Product Development - Future outlook includes plans to launch two new products in the next fiscal year, projected to contribute an additional $5 million in revenue[3] - Market expansion strategies include targeting Southeast Asia, with a goal of increasing market share by 25% in the region over the next two years[3] - The management emphasized the need to enhance product competitiveness and develop new product lines and sales channels[41] - The group plans to optimize existing products and expand different product lines to broaden revenue sources[59] Environmental, Social, and Governance (ESG) Initiatives - The board of directors emphasized the importance of environmental, social, and governance (ESG) factors in future business strategies[3] - The company will continue to assess significant environmental, social, and governance aspects for inclusion in its reporting[113] - The company has established effective management policies and monitoring systems for environmental, social, and governance matters[122] - The company has implemented measures to reduce energy consumption, including turning off air conditioning at night and using LED lighting[130] Employee and Labor Practices - The company has approximately 74 employees as of December 31, 2019, with total employee benefit expenses of about HKD 24.1 million for the year[106] - The company has committed to maintaining employee diversity and equal opportunity, complying with relevant labor laws and regulations in both China and Hong Kong[144] - The company has established a health and safety management system to provide a safe working environment for office employees[147] - The company strictly prohibits the employment of child or forced labor in its operations in Hong Kong and China, adhering to all relevant laws and regulations as of December 31, 2019[151] Corporate Governance and Compliance - The company has consistently complied with regulatory requirements, with no significant violations reported as of December 31, 2019[168] - The company has not identified any violations of product responsibility laws and regulations as of December 31, 2019[158] - The company has implemented a management system to prevent commercial bribery and has established a reporting mechanism for suspected misconduct[160] - The company has no arrangements that would allow directors to benefit from purchasing shares or debt securities of the company or any associated corporation[195]

Revenue Performance - For the six months ended June 30, 2019, the group recorded revenue of approximately HKD 14 million, a decrease of about HKD 9 million compared to the same period last year [8]. - The sales of calipers and microcontrollers contributed approximately 65% and 35% of total revenue respectively, with microcontroller sales experiencing significant growth [9]. - The real-time 2D to 3D video display system business generated revenue of approximately HKD 0.5 million, accounting for 2% of total revenue for the period [14]. - The financing leasing business recorded revenue of HKD 0.05 million, a decrease from HKD 0.1 million in the previous year [15]. - The company recorded a revenue of approximately HKD 20.4 million for the six months ended June 30, 2019, a decrease of about HKD 15.4 million compared to the previous year [32]. - Revenue from external customers reached HKD 20,385 million, with a significant contribution from the integrated circuit design and sales segment [97]. Financial Performance - The company reported a loss attributable to shareholders of HKD 8.7 million for the six months ended June 30, 2019, compared to a loss of HKD 5.8 million in the same period last year [32]. - Overall, the group's performance was below expectations due to a challenging global macroeconomic environment [7]. - The company incurred a loss before tax of HKD 9,977,000, compared to a loss of HKD 5,643,000 in the previous year, indicating a worsening financial performance [70]. - The net loss for the period was HKD 9,652,000, compared to HKD 5,818,000 in the prior year, representing a significant increase in losses [70]. - The company reported a total comprehensive loss of HKD 8,637,000 for the six months ended June 30, 2019, compared to a loss of HKD 5,818,000 for the same period in 2018 [78]. - The company reported a loss of HKD 8,692,000 for the six months ended June 30, 2019, compared to a loss of HKD 5,818,000 for the same period in 2018 [78]. Operational Challenges - The company faced increased operational pressure due to the ongoing US-China trade war and an 8% appreciation of the US dollar compared to the previous year, impacting raw material costs [8]. - The integrated circuit and semiconductor parts design and sales business faced challenges due to the impact of the US-China trade war, resulting in reduced order volumes and declining gross profit margins [32]. - The company's operating expenses increased to HKD 20.7 million for the six months ended June 30, 2019, primarily due to rising employee benefits and legal costs [37]. Business Expansion and Acquisitions - The group plans to expand its real-time 2D to 3D video display system services following the potential acquisition of Shenzhen Qipin Technology Co., Ltd. [10]. - The company completed the acquisition of Shenzhen Qipin Technology Co., Ltd. in January 2019, enhancing its capabilities in real-time 2D to 3D video display systems [24]. - The company aims to enter the high-tech field through the acquisition of Shenzhen Qipin, enhancing its service offerings [10]. - The company acquired 70% of Shenzhen Qipin Technology Co., Ltd. for a total consideration of HKD 2,337,000, which specializes in real-time 2D to 3D video display systems [144]. Cash Flow and Liquidity - As of June 30, 2019, the company's cash and cash equivalents amounted to approximately HKD 15.1 million, down from HKD 25.6 million at the end of 2018 [38]. - The company reported cash and bank balances of HKD 673,000 from the acquisition of Shenzhen Qipin, contributing to a net cash inflow of HKD 673,000 from investing activities [149]. - The company incurred a net cash outflow of HKD 10,813,000 in cash and cash equivalents, compared to a decrease of HKD 4,779,000 in the same period last year [79]. - Cash used in operating activities was HKD 14,215,000 for the six months ended June 30, 2019, an improvement from HKD 17,589,000 in the previous year [79]. Shareholder Information - Major shareholders included Yaozheng International Holdings Limited with a 43.49% stake and Vision2000 Venture Ltd. with a 31.51% stake as of June 30, 2019 [59]. - The company did not declare any dividends for the period, consistent with its loss-making status [70]. - No interim dividend was recommended for the six months ended June 30, 2019 [55]. Employee and Management Changes - The total employee count increased to 75 as of June 30, 2019, compared to 56 as of December 31, 2018 [54]. - The total remuneration for key management personnel was HKD 918 million for the six months ended June 30, 2019, compared to HKD 1,996 million for the same period in 2018 [160]. - The board of directors underwent several changes, including the appointment of a new executive director and chairman, which may impact future strategic direction [70]. Assets and Liabilities - The company's debt ratio was approximately 29.57% as of June 30, 2019, compared to 3.76% at the end of 2018 [40]. - Total non-current assets increased to HKD 50,995,000 as of June 30, 2019, compared to HKD 28,523,000 at the end of 2018, indicating growth in long-term investments [75]. - Current assets rose to HKD 105,178,000 from HKD 94,444,000, showing an improvement in liquidity [75]. - The company's current liabilities included trade payables of HKD 8,944,000, significantly increasing from HKD 361,000 in the previous period [141]. Research and Development - The company is focused on research and development of real-time 2D to 3D video display systems as part of its strategy [90]. - Research and development expenses were reported at HKD 117 million, a significant increase from HKD 28 million in the prior year [107]. - The company has capitalized R&D expenditures related to the development of naked-eye 3D technology, which is in the final testing phase [151].