一、市场行情回顾 6月11日，A股三大股指盘中全线走高，沪指重返3400点。其中，上证指数收涨0.52%，深证成指收涨0.83%，创业板指收涨1.21%，全市场超3400只个股上 涨。主流宽基指数中，创业板50上涨1.30%，涨幅相对领先。 | 证券名称 | 日涨跌幅 | 今年以来 涨跌幅 | | --- | --- | --- | | 创业板50 | 1.30% | -5.76% | | 创业板指 | 1.21% | -3.72% | | 中证A50 | 1.08% | -0.44% | | 深证成指 | 0.83% | -1.62% | | 沪深300 | 0.75% | -1.02% | | 中证500 | 0.61% | 1.17% | | 上证指数 | 0.52% | 1.51% | | 中证1000 | 0.40% | 3.84% | | 科创100 | 0.01% | 9.20% | | 北证50 | 0.00% | 37.59% | | 科创综指 | -0.12% | 6.22% | | 科创 20 | -0.20% | -0.81% | | 数据来源：Choice，日期截至2025/6/11 ...

消息面上，近日，国务院新闻办公室举行新闻发布会，介绍了"一揽子金融政策支持稳市场稳预期"有关 情况，公布了10项政策，包括降准降息以及下调政策利率等稳定市场预期的信号。三家股份行拟设立 AIC公司，服务实体能力将提升，资本或将承压，关注后续资本及资产质量边际变化。 盘面上，港股银行再度迎来普涨行情，包括港股中信银行、光大银行、交通银行、重庆银行、重庆农村 商业银行在内的多只银行股创历史新高。 申万宏源证券表示，银行股是逆周期下的低波红利、顺周期下的绝对收益占优+后周期弹性品种。利好 中长期资金入市的政策频出，政策面、资金面有催化，2024年多家银行主动提升分红率，在宏观经济不 确定性增加的大背景下，资金的风险偏好下降，银行板块的高股息优势再度凸显。 场内产品方面，香港银行LOF(501025)持续走强，午盘一度涨超0.7%，今日或有望斩获7连阳。Wind数 据显示，该基金连续三个交易日资金净流入，近60个交易日获资金净流入超1亿，资金做多氛围浓厚。 该基金紧密跟踪中证香港银行投资指数选取港股通证券范围内的银行股作为指数样本，反映港股通范围 内银行上市公司的整体表现。权重股包括汇丰控股、建设银行、工商银行、中国 ...

Revenue Performance - For the six months ended September 30, 2024, the company recorded revenue of approximately HKD 40,200,000, an increase of about 78.7% compared to HKD 22,500,000 for the same period in 2023[16]. - Revenue for the six months ended September 30, 2024, reached HKD 40,206,000, a significant increase of 79.0% compared to HKD 22,468,000 in the same period of 2023[109]. - Revenue from the United States accounted for approximately 65.9% of total revenue for the six months ended September 30, 2024, up from 42.2% in the same period of 2023[16]. - Revenue from the United States market surged to HKD 26,466,000, compared to HKD 9,490,000 in the previous year, marking a growth of 178.5%[109]. - Sales of bridesmaid dresses generated revenue of approximately HKD 25,800,000 for the six months ended September 30, 2024, up from HKD 10,500,000 in the same period of 2023, driven by an increase in sales volume from 33,400 units to 121,900 units[20]. - Sales of special occasion dresses increased from approximately HKD 2,000,000 to HKD 5,000,000, with sales volume rising from 3,700 units to 10,600 units during the same period[20]. - Major customer A contributed HKD 18,343,000 to the company’s revenue, while customer B contributed HKD 5,406,000, and customer C contributed HKD 4,994,000 for the six months ended September 30, 2024[117]. Profitability and Loss - The gross profit margin increased from 9.8% for the six months ended September 30, 2023, to 13.2% for the same period in 2024[16]. - The company recorded a loss of approximately HKD 10,200,000 for the six months ended September 30, 2024, a decrease of about 30.6% from a loss of HKD 14,700,000 in the same period of 2023[16]. - The company reported a net loss of HKD 10,194,000 for the six months ended September 30, 2024, compared to a loss of HKD 14,665,000 in the same period of 2023, indicating a reduction in losses by 30.0%[126]. - The basic loss per share for the period was HKD 1.2, compared to HKD 1.7 for the same period last year, reflecting a decrease in loss per share by 29.4%[84]. - The company incurred a loss before tax of HKD 10,193,000, an improvement from a loss of HKD 14,646,000 in the prior year, indicating a reduction in losses by approximately 30.5%[84]. Cost Management - The cost of sales increased from approximately HKD 20,300,000 to HKD 34,900,000, reflecting a rise of about 71.9%, consistent with the revenue increase[23]. - Selling and distribution expenses increased by approximately HKD 300,000 or about 11.1% to approximately HKD 3,000,000, mainly due to higher transportation costs and increased advertising expenses[27]. - Administrative expenses decreased by approximately HKD 1,300,000 or about 11.9% to approximately HKD 9,600,000, attributed to cost control measures[28]. - The management team is implementing cost control measures to navigate the prolonged business downturn and is prepared to seize future growth opportunities[19]. Financial Position - Total assets as of September 30, 2024, were HKD 98,803,000, down from HKD 110,134,000 as of March 31, 2024[89][90]. - The company's current liabilities increased to HKD 57,392,000 from HKD 58,658,000, indicating a slight decrease in current liabilities by 2.2%[90]. - Non-current assets totaled HKD 40,205,000, a decrease from HKD 40,945,000 as of March 31, 2024[89]. - The company reported a net asset value of HKD 36,555,000 as of September 30, 2024, down from HKD 46,531,000 as of March 31, 2024[92]. - The group’s debt-to-equity ratio increased to 55.1% as of September 30, 2024, compared to 48.3% as of March 31, 2024, due to increased losses[36]. Share Capital and Financing - The company's issued share capital increased to HKD 10,100,000 with a total of 50,545,930 shares after a share consolidation effective October 31, 2024[35]. - Following the placement, the total issued shares increased from 842,432,607 to 1,010,918,607 shares[45]. - The company successfully placed a total of 168,486,000 new shares at a price of HKD 0.0315 per share, raising approximately HKD 4,900,000 for general working capital and loan repayment[45]. - The company has secured loans totaling HKD 6,000,000 with repayment terms of 96 months[74]. - The company has established several bank financing agreements secured by its assets and guarantees from directors[143]. Employee and Compensation - As of September 30, 2024, the total employee cost was approximately HKD 13,600,000, an increase from HKD 12,800,000 for the same period last year[49]. - The company has a total of 216 employees as of September 30, 2024, down from 227 employees as of March 31, 2024[49]. - The company regularly reviews its compensation policies and adjusts according to industry standards[49]. - The remuneration policy for employees is determined based on qualifications, experience, and performance, with the remuneration for directors and senior management being recommended by the remuneration committee[76]. Other Financial Information - Other income rose by approximately HKD 50,000 or about 20.8% to approximately HKD 290,000, primarily due to increased rental income[25]. - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year[121]. - The company incurred financial costs of HKD 847,000 for the six months ended September 30, 2024, compared to HKD 465,000 in the same period of 2023, reflecting an increase of 82.0%[118]. - The company’s depreciation of right-of-use assets was HKD 1,368,000 for the period, slightly down from HKD 1,384,000 in the previous year[120]. - The company has no significant capital commitments or contingent liabilities as of September 30, 2024[50][51].

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 40,206 thousand, representing an increase of 79.0% compared to HKD 22,468 thousand for the same period in 2023[3] - Gross profit for the same period was HKD 5,308 thousand, up from HKD 2,210 thousand, indicating a significant improvement in profitability[3] - The net loss for the six months ended September 30, 2024, was HKD 10,194 thousand, a reduction from a net loss of HKD 14,665 thousand in the previous year, reflecting a 30.5% improvement[9] - Basic and diluted loss per share decreased to HKD 1.2 from HKD 1.7, showing a positive trend in earnings per share[10] - The company reported a loss attributable to owners of HKD 10,194,000 for the six months ended September 30, 2024, compared to a loss of HKD 14,665,000 in the same period of 2023[57] - The group recorded a loss of approximately HKD 10,200,000 for the six months ended September 30, 2024, compared to a loss of approximately HKD 14,700,000 for the same period in 2023[97] Revenue Breakdown - The sales of bridesmaid dresses reached HKD 25,758,000, up 144.5% from HKD 10,514,000 in the previous year[39] - Revenue from the United States market was HKD 26,466,000, a substantial increase of 178.5% compared to HKD 9,490,000 in the same period last year[40] - Revenue from major customers included HKD 18,343,000 from Customer A, which was not applicable in the previous year[48] - Revenue from the United States accounted for approximately 65.9% of total revenue for the six months ended September 30, 2024, up from 42.2% for the same period in 2023[80] Cost Management - The company reported a decrease in administrative expenses to HKD 9,601 thousand from HKD 10,905 thousand, suggesting improved cost control measures[3] - Selling and distribution expenses rose from approximately HKD 2,700,000 to approximately HKD 3,000,000, an increase of about 11.1%[92] - Administrative expenses decreased from approximately HKD 10,900,000 to approximately HKD 9,600,000, a reduction of about 11.9%[93] - Financing costs increased from approximately HKD 460,000 to approximately HKD 850,000, an increase of about 84.8%[95] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 58,598 thousand, down from HKD 69,189 thousand as of March 31, 2024[16] - Current liabilities increased to HKD 57,392 thousand from HKD 58,658 thousand, indicating a slight improvement in liquidity management[16] - Trade receivables from third parties amounted to HKD 7,031,000 as of September 30, 2024, compared to HKD 4,618,000 as of March 31, 2024[60] - As of September 30, 2024, trade payables amounted to HKD 6,948,000, an increase from HKD 3,817,000 as of March 31, 2024[68] - The company had total borrowings of HKD 14,361,000 as of September 30, 2024, down from HKD 16,599,000 as of March 31, 2024[70] - The company’s bank overdraft was HKD 5,782,000 as of September 30, 2024, slightly down from HKD 5,876,000 as of March 31, 2024[72] Operational Focus - The company continues to focus on its core business of garment manufacturing and trading, with ongoing efforts to enhance operational efficiency[31] - The company has established long-term relationships with major bridesmaid dress customers, becoming their exclusive supplier[79] - The company continues to face challenges due to ongoing U.S.-China trade disputes and global economic uncertainties[80] Shareholder Information - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with the previous year[55] - The company completed a placement of 168,486,000 new shares at a price of HKD 0.0315 per share, raising approximately HKD 4,900,000 for general working capital and repayment of existing loans[110] - The board proposed a share consolidation, merging every 20 shares of HKD 0.01 into one share of HKD 0.20, which was approved by shareholders on October 29, 2024[112] Employee and Governance - The total employee cost for the six months ended September 30, 2024, was approximately HKD 13,600,000, an increase from HKD 12,800,000 for the same period in 2023[115] - The total number of employees decreased from 227 to 216 as of September 30, 2024[115] - The board of directors consists of five executive directors and three independent non-executive directors[129] - The company maintained compliance with the corporate governance code, except for the separation of the roles of Chairman and CEO[121] Miscellaneous - The company has no significant investments or capital commitments as of September 30, 2024[107][116] - There were no significant contingent liabilities as of September 30, 2024[117] - The interim financial results announcement has been published on the company's website and the Hong Kong Stock Exchange website[128] - The interim report for the six months ending September 30, 2024, will be available on the company's and the Hong Kong Stock Exchange's websites at an appropriate time[128] - The group has no foreign currency hedging policy but monitors foreign exchange risks and may consider hedging significant risks as needed[105] - The group sold a wholly-owned subsidiary for a consideration of HKD 5,500,000 during the six months ended September 30, 2024[106]

KNT 2024 目 錄 KNT HOLDINGS LIMITED 嘉 藝 控 股 有 限 公 司* (烘暇群島註冊成立的有限司) 股份代號： 1025 * 僅供購別 目 錄 公司資料 2 嘉藝控股有限公司 • 二零二四年年報 9 公司資料 林志遠先生，50歲，為本集團的執行董事兼營運總監。彼於二零一八年四月二十三日獲委任為執行董事。彼負責 監督本集團的日常營運，包括但不限於採購、生產、運輸及營銷。 林先生於一九九六年十一月獲香港理工大學服裝專業二級榮譽的文學士學位。彼於一九九六年七月加入本集團 擔任初級跟單員。彼於二零零三年四月晉升為高級跟單員，並於二零零七年七月進一步晉升為業務跟單經理。彼 其後於二零一七年四月晉升為營運總監。林先生於婚紗及特別場合服業務擁有逾25年經驗。 嘉藝控股有限公司 • 二零二四年年報 11 2 嘉藝控股有限公司 • 二零二四年年報 主席報告 主席報告 劉先生亦致力履行多項社會責任。彼現時擔任中國政協桂林市委員會委員及香港山西商會的會董。 各位股東： 本人謹代表嘉藝控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然提呈本公司及其附屬公司（統稱為「本 集團」）截至二零二四 ...

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 部份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。 KNT HOLDINGS LIMITED 嘉藝控股有限公 司* （於開曼群島註冊成立的有限公司） （股份代號：1025） 財務摘要 截至二零二四年三月三十一日止年度 * 僅供識別 1 • 收益約為54,300,000港元（二零二三年：約71,700,000港元）。 • 毛利約為7,500,000港元（二零二三年：約8,800,000港元）。 • 年內虧損約為24,400,000港元（二零二三年：約31,300,000港元）。 • 每股基本及攤薄虧損約為2.9港仙（二零二三年：3.7港仙）。 • 董事會不建議派付末期股息（二零二三年：無）。 嘉藝控股有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其附屬公司（統稱 「本集團」）截至二零二四年三月三十一日止年度的經審核綜合財務業績，連同截至 二零二三年三月三十一日止年度的比較數字。 綜合損益表 截至二零二四年三月三十一日止年度 | | | 二零二四 ...

Revenue Performance - The company recorded revenue of approximately HKD 22,500,000 for the six months ended September 30, 2023, a decrease of about 39.7% compared to HKD 37,300,000 for the same period in 2022[6] - Revenue for the six months ended September 30, 2023, was HKD 22,468,000, a decrease of 39.7% compared to HKD 37,294,000 in the same period of 2022[64] - Revenue from the United States accounted for approximately 42.2% of total revenue for the six months ended September 30, 2023, down from 46.6% in the same period of 2022[6] - Revenue from the United States market fell to HKD 9,490,000, down 45.3% from HKD 17,369,000 in the previous year[84] - Sales of bridesmaid dresses decreased from HKD 19,500,000 to HKD 10,500,000, with the quantity sold dropping from 62,200 units to 33,400 units[10] - Sales of special occasion dresses fell from HKD 5,800,000 to HKD 2,000,000, with the quantity sold decreasing from 10,100 units to 3,700 units[10] - Sales of ready-made garments to Veromia Limited amounted to HKD 1,450 million for the six months ended September 30, 2023, down from HKD 4,221 million in the same period last year, representing a decline of approximately 65.6%[110] Profitability and Loss - The company incurred a loss of approximately HKD 14,700,000 for the six months ended September 30, 2023, an improvement of about 18.8% compared to a loss of HKD 18,100,000 for the same period in 2022[6] - The net loss for the period narrowed to HKD 14,665,000, compared to a loss of HKD 18,146,000 in the previous year, representing a 19.5% improvement[66] - Total comprehensive loss for the period was HKD 14,826,000, compared to HKD 18,586,000 in the same period last year, indicating a 20.0% reduction[66] - The group recorded a loss of approximately HKD 14,700,000 for the six months ended September 30, 2023, compared to a loss of approximately HKD 18,100,000 for the same period last year, reflecting a decrease in losses[20] Cost Management - Cost of sales decreased from HKD 33,800,000 to HKD 20,300,000, a reduction of approximately 39.9%, aligning with the revenue decline[12] - The gross profit margin increased from 9.4% for the six months ended September 30, 2022, to 9.8% for the same period in 2023, despite a decrease in gross profit from HKD 3,500,000 to HKD 2,200,000[13] - The total employee cost for the six months ended September 30, 2023, was approximately HKD 12,800,000, down from approximately HKD 18,500,000 for the same period last year[31] - Administrative expenses decreased by approximately HKD 3,500,000 or 24.3% to about HKD 10,900,000 for the six months ended September 30, 2023, primarily due to cost control measures[17] - Sales and distribution expenses decreased by approximately HKD 600,000 or 18.2% to about HKD 2,700,000 for the six months ended September 30, 2023, mainly due to a decrease in employee and transportation costs[16] - Financing costs decreased by approximately HKD 20,000 or 4.2% to about HKD 460,000 for the six months ended September 30, 2023, mainly due to a reduction in average bank borrowings[18] Business Strategy and Opportunities - The company is actively seeking new business opportunities to diversify its revenue sources and reduce risks due to the ongoing US-China trade disputes and the impact of COVID-19[8] - The company is in discussions with a well-known discount retailer in China to develop procurement and distribution business, aiming to expand its customer base in China[8] - The company has implemented cost control measures to navigate the prolonged business downturn and is prepared to seize future growth opportunities[9] Share Capital and Dividends - The company did not recommend an interim dividend for the six months ended September 30, 2023, consistent with the previous year[21] - The issued and paid-up share capital remained at 842,432,607 shares, valued at HKD 8,424 million as of September 30, 2023[109] - The total number of shares available for issuance under the share option plan is capped at 52,000,000 shares, equivalent to 6.17% of the issued shares as of the mid-term report date[42] Compliance and Governance - The controlling shareholders confirmed compliance with the non-competition agreement for the six months ended September 30, 2023[53] - The company has established a governance framework to monitor compliance with the non-competition agreement, including annual reviews by independent non-executive directors[54] - The audit committee reviewed the unaudited condensed consolidated financial results for the six months ended September 30, 2023[62] Financial Position - The group had a current ratio of approximately 1.4 times as of September 30, 2023, down from 1.8 times as of March 31, 2023, primarily due to an increase in other payables and accrued expenses[23] - The debt-to-equity ratio increased to 26.2% as of September 30, 2023, compared to 21.0% as of March 31, 2023, mainly due to increased losses reducing total equity[24] - The total equity decreased to HKD 57,747,000 from HKD 72,573,000, a decline of 20.4%[69] - Current liabilities increased to HKD 46,854,000 from HKD 36,005,000, marking a significant rise of 30.0%[68] Cash Flow and Investments - The net cash used in operating activities for the six months ended September 30, 2023, was HKD (5,246,000), a significant improvement from HKD (40,910,000) in the same period of 2022[73] - The net cash generated from investing activities was HKD 68,000, compared to a net cash used of HKD (5,760,000) in the prior year[73] - The net cash generated from financing activities was HKD 6,669,000, a recovery from a net cash used of HKD (7,576,000) in the previous year[73] - The company reported a net increase in cash and cash equivalents of HKD 1,491,000, compared to a decrease of HKD (54,246,000) in the same period last year[75] - The company's cash and cash equivalents improved to HKD 4,598,000 from HKD 3,155,000, an increase of 45.6%[67] Asset Management - Non-current assets decreased to HKD 45,263,000 from HKD 48,431,000, reflecting a decline of 4.5%[67] - Current assets slightly decreased to HKD 64,862,000 from HKD 65,675,000, a reduction of 1.2%[68] - The company’s non-current assets located in China were fully impaired as of September 30, 2023[88] - Trade receivables from third parties decreased to HKD 3,700,000 as of September 30, 2023, from HKD 7,742,000 as of March 31, 2023, reflecting a decline of approximately 52.2%[101] Share Options and Incentives - The company has adopted a share option plan to incentivize contributions from qualified individuals[38] - The share option plan includes employees, suppliers, customers, and other contributors to the company's growth[39] - The maximum number of unexercised share options that can be issued at any time cannot exceed 30% of the total issued shares[49] - No stock options were granted, exercised, canceled, or lapsed under the stock option plan during the six months ended September 30, 2023[50]

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 部份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。 KNT HOLDINGS LIMITED * 嘉 藝 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） 1025 （股份代號： ） 截至二零二三年九月三十日止六個月 中期業績公告 嘉藝控股有限公司（「本公司」）董事會（「董事會」）欣然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的未經審核簡明綜合業績，連同截 至二零二二年九月三十日止六個月的比較數字。 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 附註 千港元 千港元 （未經審核） （未經審核） 4 22,468 37,294 收益 (20,258) (33,782) 銷售成本 ...

（於開曼群島註冊成立的有限公司） 股份代號： 1025 年報 2023 僅供識別 KNT HOLDINGS LIMITED 嘉 藝 控 股有限公司 嘉藝控股有限公司 年報 2023 目 錄 | 公司資料 | 2 | | --- | --- | | 主席報告 | 3 | | 管理層討論及分析 | 5 | | 董事及高級管理層履歷 | 12 | | 企業管治報告 | 16 | | 環境、社會及管治報告 | 33 | | 董事會報告 | 59 | | 獨立核數師報告 | 75 | | 綜合損益表 | 80 | | 綜合損益及其他全面收益表 | 81 | | 綜合財務狀況表 | 82 | | 綜合權益變動表 | 84 | | 綜合現金流量表 | 85 | | 綜合財務報表附註 | 87 | | 財務概要 | 156 | 二零二三年年報 • 嘉藝控股有限公司 1 目 錄 公司資料 董事會 執行董事 莊碩 （主席兼行政總裁） 莊斌 林志遠 董斌 （副主席） （於二零二三年六月一日獲委任） 周海（於二零二二年十月二十日辭任） 非執行董事 胡仕林 獨立非執行董事 梁傲文 劉冠業 袁景森 劉國勳 審核委員會 梁傲文 （主席） ...

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 部份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。 KNT HOLDINGS LIMITED * 嘉 藝 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） 1025 （股份代號： ） 截至二零二三年三月三十一日止年度 全年業績公告 財務摘要 截至二零二三年三月三十一日止年度 • 71,700,000 80,000,000 收益約為 港元（二零二二年：約 港元）。 • 8,800,000 4,000,000 毛利約為 港元（二零二二年：約為 港元）。 • 31,300,000 25,100,000 年內虧損約為 港元（二零二二年：約 港元）。 • 3.7 3.9 每股基本及攤薄虧損約為 港仙（二零二二年： 港仙）。 ...