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 部分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。 Karrie International Holdings Limited 嘉利國際控股有限公司 * （於百慕達註冊成立之有限公司） （股份代號：1050） 截至二零二五年三月三十一日止年度業績公佈 | 財務摘要 | | | | | --- | --- | --- | --- | | | 二零二五年 | 二零二四年 | 百分比變動 | | 收入 （千港元） | 3,231,329 | 2,915,981 | 11% | | 年度溢利 （千港元） | 204,481 | 169,659 | 21% | | 每股基本溢利 （港仙） | 10.1 | 8.4 | 20% | | 攤薄後每股溢利 （港仙） | 10.1 | 8.4 | 20% | | 每股中期股息 （港仙） | 2.5 | 1.5 | 67% | | 每股末期股息 （港仙） | 3.0 | 4.0 | -25% | | 全年每股股息合計 （港仙 ...

Financial Performance - Revenue for the six months ended September 30, 2024, was HK$1,526,653, an increase of 6.0% from HK$1,439,788 in 2023[14]. - Operating profit rose to HK$135,151, representing a 31.2% increase compared to HK$102,986 in the previous year[14]. - Profit for the period attributable to equity shareholders increased to HK$101,779, up 38.6% from HK$73,455 in 2023[14]. - Basic and diluted earnings per share for the period were both HK$5.0, compared to HK$3.6 in the same period last year[14]. - Total comprehensive income for the period was HK$109,461, significantly higher than HK$12,406 in 2023[16]. - The group reported a profit before taxation of $117,139,000 for the six months ended September 30, 2024, compared to $81,318,000 for the same period in 2023, indicating a growth of approximately 44.0%[53]. - Profit attributable to equity shareholders increased by approximately 39% to HK$101,779,000, up from HK$73,455,000 in the previous year, driven by robust demand for AI servers[124]. Assets and Liabilities - The unaudited consolidated total assets as of September 30, 2024, amounted to HKD 2,620,428,000, an increase from HKD 2,402,721,000 as of March 31, 2024, representing a growth of approximately 9.1%[8]. - Current assets increased to HKD 1,548,412,000 as of September 30, 2024, compared to HKD 1,342,806,000 as of March 31, 2024, reflecting a rise of about 15.4%[8]. - The total liabilities as of September 30, 2024, were HKD 1,601,064,000, an increase from HKD 1,409,717,000, indicating a rise of about 13.6%[12]. - Current liabilities decreased to HKD 1,429,089,000 from HKD 1,212,743,000, showing a reduction of approximately 1.5%[12]. - The net current assets decreased to HKD 119,323,000 from HKD 130,063,000, reflecting a decline of approximately 8.5%[12]. Cash Flow and Financing - Net cash generated from operating activities for the six months ended September 30, 2024, was HK$88,101,000, a decrease of 53.8% compared to HK$190,499,000 in 2023[23]. - Cash flows used in investing activities amounted to HK$30,533,000 for property, plant, and equipment purchases, down from HK$95,940,000 in the previous year, indicating a reduction of 68.2%[23]. - Net cash used in financing activities was HK$139,000, a significant decrease from HK$27,705,000 in 2023, reflecting improved cash management[23]. - The net increase in cash and cash equivalents for the period was HK$58,621,000, compared to HK$62,465,000 in the same period last year, showing a decrease of 6.0%[23]. - Cash and cash equivalents at the end of the period stood at HK$209,177,000, down from HK$218,715,000 in 2023, representing a decline of 4.9%[23]. - Bank borrowings increased to HKD 640,545,000 as of September 30, 2024, compared to HKD 529,692,000 as of March 31, 2024, reflecting an increase of about 21%[12]. Dividends - The company paid dividends totaling HK$80,858 during the period[18]. - The final dividend for the year ended March 31, 2024, was $80,858,000 (HK4.0 cents per share), compared to $30,322,000 (HK1.5 cents per share) in 2023, indicating a substantial increase of 167.5%[102]. - The interim dividend declared for the six months ended September 30, 2024, is HK2.5 cents per share, up from HK1.5 cents per share in the same period of 2023, marking a 66.7% increase[102]. Segment Performance - The company operates primarily in two segments: Metal and Plastic Business and Electronic Manufacturing Services Business, focusing on mechanical engineering solutions and manufacturing of data storage products[25]. - Revenue from external customers in the plastic business was $952,498,000, while the electronic manufacturing services business generated $574,141,000[48]. - Revenue from the metal and plastic business increased by approximately 14% to HK$952,498,000, with over 85% of this revenue coming from server products[129]. - The electronic manufacturing services business saw a slight decrease of approximately 5% in revenue to HK$574,141,000, indicating stable performance[130]. Operational Efficiency - The Group's manufacturing process is highly automated, utilizing advanced six-axis robots to enhance operational efficiency and reduce costs[136]. - The Group's production facilities in Dongguan and Thailand are highly automated, utilizing advanced six-axis robotic arms to cover various processes, effectively reducing production costs and improving operational efficiency[6]. - The Thailand factory, launched at the end of 2023, has reached optimal production scale and is receiving increasing orders, helping to diversify geographical risks[137]. Corporate Governance and Compliance - The interim financial report has been prepared in accordance with Hong Kong Accounting Standards and has been reviewed by the Group's audit committee, ensuring compliance and accuracy[27]. - The company has not adopted any new standards or interpretations that are not yet effective for the current accounting period, maintaining consistency in financial reporting[34]. Employee and Talent Management - Employee benefit expenses, including directors' remuneration, increased to $204,358,000 for the six months ended September 30, 2024, up from $186,032,000 in the same period of 2023, representing a growth of 9.3%[86]. - The group emphasizes talent cultivation through comprehensive training programs, including a focus on management and operational strategies[141]. - The group adopted a performance-based bonus system to reward employees based on merit[168]. Shareholder Information - Mr. Ho Cheuk Fai holds a personal interest of 278,712,000 Shares and is deemed to be interested in an additional 110,350,000 Shares held by his spouse[180]. - The total interest of Mr. Ho Cheuk Fai and Ms. Ho Po Chu in the 817,608,000 Shares includes 487,608,000 Shares held by New Sense Enterprises Limited and 330,000,000 Shares held by Castfast Properties Development Co., Limited[180]. - The share option scheme adopted on 24 August 2021 (the "2021 Scheme") was terminated on 30 August 2023, and a new share option scheme was approved on the same date[186]. Risk Management - The Group actively manages foreign currency risk through price adjustments and may use foreign exchange forward contracts as necessary[155]. - The group actively manages foreign exchange risks, particularly related to RMB fluctuations, by adjusting product prices and potentially using forward contracts[159].

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 1,526,653, representing a 6% increase from HKD 1,439,788 in the same period of 2023[3] - Profit attributable to equity holders for the same period was HKD 101,779, a significant increase of 39% compared to HKD 73,455 in 2023[3] - Basic and diluted earnings per share rose to HKD 5.0, up 39% from HKD 3.6 in the previous year[3] - The interim dividend per share increased by 67% to HKD 2.5, compared to HKD 1.5 in the prior year[3] - The total comprehensive income for the period was HKD 109,461, compared to HKD 12,406 in the previous year[14] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 2,620,428, an increase from HKD 2,402,721 as of March 31, 2024[9] - Total liabilities increased to HKD 1,601,064 from HKD 1,409,717, reflecting a rise in current liabilities[9] - Trade and bills receivables, net of provisions, increased from HKD 619,157,000 as of March 31, 2024, to HKD 646,324,000 as of September 30, 2024[27] - The total bank borrowings increased from HKD 529,692,000 as of March 31, 2024, to HKD 640,545,000 as of September 30, 2024, representing an increase of approximately 20.9%[32] - The net interest-bearing borrowings as of September 30, 2024, amounted to approximately HKD 455,746,000, with a net interest-bearing borrowings ratio of 45%[57] Profitability - The group reported a gross profit of HKD 201,163 for the six months ended September 30, 2024, compared to HKD 166,549 in the same period of 2023[11] - Operating profit for the period was HKD 135,151, up from HKD 102,986 in the previous year[11] - The operating profit for the hardware and plastic business was HKD 129,928,000, and for the electronic professional OEM business, it was HKD 10,535,000, resulting in a total operating profit of HKD 135,151,000 for the period[21] - The company’s operating profit before tax for the six months ending September 30, 2024, was HKD 117,139,000, compared to HKD 81,318,000 for the same period in 2023, reflecting a significant increase of approximately 43.9%[23] Revenue Segmentation - For the six months ending September 30, 2024, the total revenue from the hardware and plastic business was HKD 960,352,000, while the electronic professional OEM business generated HKD 574,141,000, leading to a combined total revenue of HKD 1,534,507,000[21] - The company reported a year-on-year increase in total revenue from HKD 1,452,104,000 for the six months ending September 30, 2023, to HKD 1,534,507,000 for the same period in 2024, reflecting a growth of approximately 5.7%[23] - The hardware and plastic business segment saw a revenue increase of approximately 14% to HKD 952,498,000, with over 85% of this revenue coming from server products[45] - The electronic manufacturing services segment experienced a slight decline of about 5% in revenue to HKD 574,141,000, indicating stable overall performance[47] Operational Efficiency - The group recorded a net finance cost of HKD 18,157, a decrease from HKD 20,150 in the same period of 2023[11] - The company’s financial income for the six months ending September 30, 2024, was HKD 1,280,000, compared to HKD 1,403,000 for the same period in 2023, indicating a decrease of approximately 8.7%[23] - The company’s total expenses for employee benefits, including director remuneration, amounted to HKD 204,358,000 for the six months ending September 30, 2024, compared to HKD 186,032,000 for the same period in 2023, showing an increase of approximately 9.8%[34] - The company has maintained a strong cash and cash equivalents position to prepare for future growth opportunities[55] Market Strategy and Expansion - The company is expanding its server product offerings to meet growing market demand, focusing on customized designs for both general servers and emerging AI server segments[48] - The company is actively expanding its overseas market presence and enhancing production capacity in Thailand to mitigate risks from geopolitical tensions and trade disputes[48] - The company plans to actively explore new markets such as data centers to drive diversified business development[53] - The company aims to expand its production capacity and service range in Thailand by investing in more production equipment to seize market opportunities[53] Corporate Governance and Social Responsibility - The company emphasizes internal governance and prudent capital expenditure management to ensure long-term financial health and resilience against risks[50] - The company is committed to corporate social responsibility, integrating environmental, social, and governance principles into its sustainable development strategy[50] - The company has adopted strict procedures to regulate directors' securities trading in compliance with the Listing Rules Appendix C3[73] - All directors confirmed compliance with the standards set forth in the Standard Code during the relevant period[73] Future Outlook - The company remains optimistic about the server business outlook for the second half of the year, anticipating continued growth in demand driven by the cloud big data era and advancements in AI technology[53] - The company plans to issue reward shares in August 2024 as part of its share incentive plan to recognize and motivate qualified personnel for their contributions to the group's growth[51] Workforce and Recruitment - The employee count increased from approximately 3,300 to 3,600 year-over-year, indicating successful recruitment efforts in a competitive talent market[61] - The company has not encountered significant difficulties in recruiting personnel due to its established reputation in the local market[61] Miscellaneous - The company's rental income for the six months ending September 30, 2024, was HKD 1,199,000, slightly down from HKD 1,216,000 for the same period in 2023[32] - The company has no significant contingent liabilities as of September 30, 2024[59] - The company's interim report for 2024 will be published on the Stock Exchange's website in due course[74]

Financial Performance - The Group's revenue for 2023 reached HK$ 3,861 million, an increase from HK$ 3,473 million in 2022, representing a growth of approximately 11.2%[27]. - Basic earnings per share for 2023 were HK 19.1 cents, down from HK 27.2 cents in 2022, indicating a decrease of about 29.9%[29]. - For the year ended March 31, 2024, the Group's revenue from continuing operations was HK$2,916 million, a decline of approximately 5% compared to HK$3,082 million in the previous year[39]. - Profit attributable to equity shareholders decreased by approximately 56% to HK$170 million from HK$386 million in the previous year[39]. - The revenue of the Metal and Plastic Business (M&P) for the year was HK$1,725 million, down from HK$1,919 million, reflecting a market-aligned performance[46]. - The Electronic Manufacturing Services (EMS) revenue increased by approximately 2% to HK$1,191 million from HK$1,163 million, indicating stable performance[46]. - Revenue for the fiscal year 2023/24 was HK$2,916 million, a decrease from HK$3,082 million in 2022/23[119]. - The operating profit for industrial businesses was HK$228,372,000 in 2023/24, compared to HK$210,785,000 in 2022/23[122]. Dividends and Shareholder Returns - The company has maintained an uninterrupted 28-year record of dividend payments, with a policy to distribute 30% or more of profits attributable to shareholders as dividends[113]. - The Group's dividend per share for 2023 was HK 5.5 cents, consistent with the previous year, indicating a stable return to shareholders[33]. - The board has recommended a final dividend of HK$4.0 cents per share, increasing from HK$1.5 cents per share in the previous year, resulting in a total dividend of HK$5.5 cents per share for this year[105]. - The dividend payout ratio for the fiscal year 2023/24 is 66%[114]. Market and Operational Developments - The market capitalization as of March 31, 2024, was HK$990,515,008, with a closing price of HK$0.49, and increased to HK$1,617,167,360 by June 30, 2024, with a closing price of HK$0.80[18]. - The Group's Thailand production base successfully completed the mass production and shipment of its first batch of "Made in Thailand" products, marking a significant milestone in its strategic development[25]. - Market conditions have improved since the end of 2023, with increased enterprise investment in artificial intelligence driving growth in server demand[46]. - The newly constructed Karrie Craftsmanship Tower has officially opened, enhancing production efficiency and reducing costs[49]. - The Group is actively exploring new markets and has developed various AI server-related molds, securing orders from internationally renowned customers[55]. - The Group has strengthened automated and intelligent production, improving efficiency in areas such as welding, bending, and assembly[51]. Corporate Governance - The Company has committed to adhering to the latest corporate governance principles as stipulated in the Hong Kong Stock Exchange Listing Rules, except for deviations in provisions B.2.2 and C.2.1[128]. - The Company will consider voluntary retirement of the Chairman and/or Managing Director at least once every three years in line with corporate governance code provisions[129]. - The roles of Chairman and Chief Executive Officer are not segregated, with Mr. Ho holding both positions, which the Board believes provides strong leadership[132]. - The Company aims to enhance shareholder value and provide superior products and services as part of its strategic objectives[141]. - The Company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[111]. Sustainability and Social Responsibility - The Group's participation in the EcoVadis sustainability rating resulted in a bronze recognition, highlighting its commitment to sustainable practices[23]. - The Group's ongoing efforts in environmental sustainability were recognized with multiple awards, including the "Sustainable Carbon Reduction Strategic Partner" title from TÜV Rheinland[23]. - The Group is committed to sustainable development, focusing on green production and reducing emissions[59]. Human Resources and Employee Engagement - The group had approximately 3,400 employees on average during the year, down from 3,600 in the previous year[96]. - The group adopted a performance-based bonus system, providing more bonuses to employees with outstanding performance[104]. - The ratio of female to male in the workforce (excluding Directors) is 35:65 as of March 31, 2024[153]. - The Company has established a board diversity policy to achieve balanced diversity at the Board level[148]. Financial Management and Capital Expenditure - The Group aims to adopt prudent financial management, including cautious capital expenditure and strict control of working capital[64]. - The initial estimate of the capital expenditure (CAPEX) budget for the financial year 2024/25 is approximately HK$135,453,000, primarily for factory construction and equipment acquisition[77]. - Capital expenditure (CAPEX) for industrial businesses was HK$152,450,000 in 2023/24, up from HK$136,381,000 in 2022/23[122].

Financial Performance - For the fiscal year ending March 31, 2024, total revenue from external customers was approximately HKD 2,915,981,000, a decrease from HKD 3,081,697,000 in the previous year, representing a decline of about 5.4%[1][3][6]. - The group reported a pre-tax profit of HKD 186,999,000 for the fiscal year 2024, slightly down from HKD 191,791,000 in 2023[5]. - The profit attributable to equity holders was HKD 169,659,000, down about 7% from HKD 182,318,000 in the prior year[36]. - Annual profit for the same period was HKD 169,659 thousand, down 7% from HKD 182,318 thousand in the prior year[75]. - The gross profit for the year was HKD 370,139 thousand, compared to HKD 337,165 thousand in the previous year[88]. - Total comprehensive income for the year is HKD 116,886,000, down from HKD 300,015,000, indicating a decrease of about 61.0%[94]. Revenue Breakdown - The segment profit for the hardware and plastic division was HKD 238,807,000, while the electronics contract manufacturing segment reported a profit of HKD 24,528,000, leading to a total segment profit of HKD 228,372,000 for the group[1][5]. - The group’s revenue from the hardware and plastic business and electronics contract manufacturing was approximately HKD 2,630,416,000 in 2024, compared to HKD 2,684,206,000 in 2023, showing a decline of about 2%[6]. - Hardware and plastic business revenue decreased to 1,725,255 thousand HKD in 2024 from 1,918,749 thousand HKD in 2023, representing a decline of 10.1%[17]. - The electronics manufacturing services segment saw a revenue increase of approximately 2%, reaching HKD 1,190,648,000, up from HKD 1,162,923,000 year-on-year[36]. Customer Concentration - Revenue from the top five customers accounted for approximately 92% of total revenue in 2024, up from 89% in 2023, highlighting increased customer concentration risk[7]. Assets and Liabilities - Trade and bills receivables increased to HKD 626,341,000 in 2024 from HKD 560,793,000 in 2023, reflecting a growth of approximately 11.7%[9][10]. - The group’s designated non-current assets in 2024 were valued at HKD 984,856,000, a slight decrease from HKD 1,011,529,000 in 2023[6]. - Total liabilities decreased to HKD 1,409,717 thousand from HKD 1,614,017 thousand[87]. - The company's total equity increased to HKD 993,004 thousand from HKD 936,762 thousand[80]. Cash Flow and Financial Health - The group’s cash and cash equivalents totaled HKD 149,418,000 as of March 31, 2024, compared to HKD 159,445,000 in the previous year, indicating a decrease of about 6.4%[12]. - The net financial cost for 2024 was 40,151 thousand HKD, an increase of 17.5% compared to 34,151 thousand HKD in 2023[22]. - The net interest-bearing borrowings as of March 31, 2024, were approximately HKD 383.88 million, with a net interest-bearing borrowings ratio of 39%, down from 54% the previous year[62]. - Total interest-bearing bank borrowings amount to approximately HKD 529,692,000, with cash and bank deposits around HKD 149,418,000, indicating a healthy liquidity position[104]. Dividends - The group declared an interim dividend of 1.5 HKD cents per share in 2024, compared to 4.0 HKD cents per share in 2023[34]. - The board has proposed a final dividend of HKD 0.04 per share, maintaining a consistent dividend payout record since listing, with total dividends for the year reaching HKD 0.055 per share[67]. - The total dividend per share for the year remained at HKD 5.5, unchanged from the previous year[75]. Operational Efficiency and Strategy - The company has established a new integrated production building, enhancing production efficiency and reducing costs while improving product quality[38]. - The group plans to enhance operational efficiency by upgrading from "processing with supplied materials" to "processing with imported materials" to transform its business positioning[54]. - The group aims to introduce automated intelligent production in its Thailand factory, which will allow for the expansion of production capabilities in its mainland China facilities[59]. - A strategy to expand into the mainland China market is being implemented, with efforts to develop products in collaboration with clients[39]. - The company has adopted a "China Plus One" strategy by establishing a factory in Thailand, which has begun production and completed its first orders[51]. Market Conditions and Challenges - The company faced challenges due to a sluggish global economic recovery, high inflation, and geopolitical tensions, impacting capital expenditure from end customers[38]. - Since the end of 2023, the market environment has improved, with significant growth in server market demand driven by corporate investments in AI deployment[38]. - The board remains optimistic about future demand for AI servers and the gradual recovery of traditional server orders as inventory levels are depleted[59]. Innovation and Development - The group is committed to continuous innovation in product development and technology to enhance competitiveness and maintain its leadership in the international server chassis production market[61]. - The group has successfully developed multiple AI server-related molds and secured major model orders from several internationally renowned clients, laying a solid foundation for future revenue growth[52]. - Regular training programs are conducted to enhance employee knowledge and skills, contributing to the company's overall development[51]. Employee Management - The average number of employees during the year was approximately 3,400, a decrease from 3,600 the previous year, indicating a focus on optimizing human resources[65]. Risk Management - The company is actively managing foreign exchange risks, particularly related to RMB fluctuations, by adjusting product prices and potentially using forward contracts[105].

Financial Performance - Profit for the period for the six months ended 30 September 2023 was HK$73,455,000, a decrease of 71.7% compared to HK$259,489,000 in the same period of 2022[11]. - Total comprehensive income for the period was HK$12,406,000, down from HK$60,606,000 in the previous year, reflecting a significant decline[12]. - Basic and diluted earnings per share for the period were both HK$0.16, compared to HK$0.36 in the previous year, indicating a decrease of 55.6%[3]. - The company reported a significant decline in profit from continuing operations, with a profit of HK$73,455,000 compared to HK$259,489,000 in the previous year[11]. - The Group's profit for the period was $(198,883,000), reflecting a challenging financial environment compared to the previous year's profit of $259,489,000[19]. - Profit attributable to equity shareholders decreased by approximately 21% to HK$73,455,000 from HK$92,542,000, primarily due to decreased market demand amid a slowing global economy, inflation, and rising interest rates[1]. Revenue and Sales - The Group's revenue from external customers for the six months ended September 30, 2023, was $1,439,788,000, compared to $1,645,666,000 for the same period in 2022, reflecting a decrease of approximately 12.5%[54]. - The turnover of the metal and plastic business decreased by approximately 18% to HK$837,141,000, influenced by inflation pressures and a conservative capital expenditure approach by enterprise customers[2]. - The electronics manufacturing services business turnover decreased by approximately 3% to HK$602,647,000, with stable demand for storage products from customers[3]. Cash Flow and Liquidity - For the six months ended 30 September 2023, the net cash generated from operations was $199,789,000, compared to $353,238,000 for the same period in 2022, representing a decrease of approximately 43.5%[22]. - The cash and cash equivalents at the end of the period were $218,715,000, down from $629,829,000 in the previous year, reflecting a decrease of approximately 65.2%[22]. - The Group's cash and bank deposits amounted to HK$218,715,000, with unutilized banking facilities of HK$645,151,000, providing sufficient liquidity for current and future operations[198]. Investments and Capital Expenditures - The Group acquired property, plant, and equipment at a cost of approximately $93,889,000 for the six months ended 30 September 2023, compared to $88,141,000 for the same period in 2022, representing an increase of 8%[59]. - The Group purchased property, plant, and equipment amounting to $48,229,000 during the period, down from $74,197,000 in the previous period[169]. Debt and Liabilities - As of 30 September 2023, the Group had total bank borrowings of $678,434,000 and net current liabilities of $76,795,000[28]. - The portion of bank borrowings repayable within one year increased to $583,813,000 from $422,372,000, indicating a significant rise of 38.2%[78]. - The financial covenant related to net tangible asset balance was breached, with the balance amounting to $540,046,000 as of 30 September 2023, compared to $406,000,000 as of 31 March 2023[80]. - The Group obtained waivers from lenders regarding the breach of financial covenants, and no immediate repayment of loans has been demanded as of the reporting date[80]. Operational Developments - The Group has completed part of the internal renovation of B6 Karrie Craftsmanship Building, installing advanced equipment to lower production costs and enhance efficiency[5]. - The Group's factory in Thailand has commenced operations, providing flexible production capabilities and reducing reliance on a single production region[9]. - The Group is enhancing automation processes and providing specific training to improve staff expertise and operational efficiency, particularly in material packaging and logistics[8]. - The establishment of a marketing team in Mainland China aims to strengthen customer service and explore new market opportunities[7]. Strategic Focus - The Group continues to focus on sustainable development, adhering to a business model of "green production, saving energy, and reducing emissions"[10]. - The Group aims to achieve sustainable development and maximize shareholder interests through diversified products and improved quality efficiency[192]. - The Group's strategy includes a cautious approach to development and financial management in response to geopolitical risks and rising interest rates, affecting capital investments[190]. Financial Position - Total equity as of 30 September 2023 was HK$918,846,000, a decrease from HK$936,762,000 as of 1 April 2023[14]. - The Group's total assets amounted to HKD 2,571,710,000, an increase from HKD 2,550,779,000 as of March 31, 2023, representing a growth of approximately 0.83%[97]. - The Group's non-current liabilities were classified as HKD 65,455,000 as of September 30, 2023, down from HKD 140,000,000 as of March 31, 2023, indicating a reduction of 53.3%[84]. - The Group's net interest-bearing borrowings as of September 30, 2023, were HK$465,582,000, down from HK$502,664,000 as of March 31, 2023, indicating a reduction in debt levels[197]. - The net gearing ratio improved to 51% as of September 30, 2023, compared to 54% as of March 31, 2023, reflecting a stronger equity position[197]. Other Financial Metrics - The Group's finance costs increased to $21,553,000 for the six months ended September 30, 2023, compared to $14,767,000 in the same period of 2022, representing an increase of approximately 46%[58]. - The Group's finance income for the period was HKD 4,103,000, while finance costs amounted to HKD 2,556,000, resulting in a net finance income of HKD 1,547,000[86]. - The Group's liabilities due to non-fulfillment of covenants were reclassified from non-current to current liabilities, with nil balance identified as of September 30, 2023[84].

Financial Performance - For the six months ended September 30, 2023, the operating profit was HKD 102,986,000, a decrease of 4% from HKD 108,216,000 in the same period of 2022[4]. - The company reported a profit of HKD 73,455,000 for the six months ended September 30, 2023, compared to HKD 259,489,000 in the same period of 2022[19]. - The total comprehensive income for the period was HKD 12,406,000, a significant decrease from HKD 60,606,000 in the previous year[19]. - Total revenue for the six months ended September 30, 2023, was HKD 1,439,788,000, a decrease of approximately 13% compared to HKD 1,645,666,000 for the same period last year[62]. - The net profit attributable to equity holders from continuing operations was HKD 73,455, down 21% from HKD 92,542 in the previous year[36]. - Basic earnings per share from continuing operations decreased to HKD 3.6 from HKD 4.6, representing a decline of 22%[36]. - The basic earnings per share for the six months ended September 30, 2023, was HKD 0.036, a decrease from HKD 0.046 for the same period in 2022[84]. Revenue Breakdown - Total revenue from external customers for the hardware and plastic business was HKD 849,457,000, while the electronic professional OEM business generated HKD 602,647,000, leading to a combined total revenue of HKD 1,452,104,000[14]. - Revenue for the hardware and plastic business decreased by approximately 18% to HKD 837,141,000 compared to HKD 1,022,699,000 in the same period last year[27]. - The electronic manufacturing services segment reported revenue of HKD 602,647,000, a decline of approximately 3% from HKD 622,967,000 in the previous year[63]. Cash and Liquidity - The net cash and cash equivalents as of September 30, 2023, amounted to HKD 218,715,000, with total bank borrowings of HKD 678,434,000[6]. - The company has sufficient operating funds to meet its financial obligations for at least the next twelve months, with projected cash flows including unutilized bank financing of HKD 645,151,000[7]. - Cash and bank deposits stood at HKD 218,715, up from HKD 159,445, reflecting improved liquidity[30]. - The company has bank borrowings totaling HKD 678,434,000, with cash and bank deposits of HKD 218,715,000, indicating sufficient liquidity to meet current and future operational and investment needs[68]. Assets and Liabilities - Total assets as of September 30, 2023, were HKD 2,571,710, compared to HKD 2,550,779 as of March 31, 2023[32]. - Current liabilities increased to HKD 1,554,967 from HKD 1,377,700, indicating a rise in short-term financial obligations[32]. - Trade and bills receivables, net of provisions, increased to HKD 717,340,000 as of September 30, 2023, from HKD 558,114,000 as of March 31, 2023[16]. - Trade payables as of September 30, 2023, amounted to HKD 374,215,000, an increase from HKD 350,212,000 as of March 31, 2023[5]. Dividends - The company declared an interim dividend of HKD 1.5 per share, a decrease of 63% from HKD 4.0 in the previous year[36]. - The interim dividend declared for the six months ended September 30, 2023, is HKD 0.015 per share, down from HKD 0.040 per share for the same period in 2022, totaling HKD 30,322,000 compared to HKD 80,852,000 previously[85]. Operational Efficiency - The company is actively advancing automation processes and targeted training across departments to improve efficiency and cost-effectiveness, particularly in packaging and logistics[65]. - Continuous improvements in automated production processes and operational structure have significantly enhanced production efficiency and cost savings[113]. - The group has installed advanced equipment such as high-speed precision cutting machines and large gantry punching machines, which are expected to reduce production costs and improve efficiency[90]. Workforce and Employment - The group has reduced its workforce from approximately 3,700 employees at the end of the previous year to about 3,300 employees at the end of the current period[99]. - The group reported a decrease in employee benefits expenses, including director remuneration, from HKD 221,592,000 in the previous year to HKD 186,032,000[79]. Market and Future Outlook - The company secured new contracts for the manufacturing of next-generation servers, indicating stable future order volumes and positive customer feedback on new product quality and service[64]. - The group aims to enhance its engineering R&D capabilities and expand its customer base, focusing on markets in Taiwan, mainland China, and other overseas regions[93]. - The group is preparing for new challenges including economic slowdown, high interest rates, inflation pressures, and geopolitical tensions, while maintaining a cautious order pace from clients[109]. - The Thailand factory has commenced operations, providing flexible production configurations to meet international market demands and reducing reliance on a single production region[111]. - The group has begun receiving AI-related server orders from several brand clients, with deliveries expected to start in 2024, driven by the rapid development in the AI sector[112]. Compliance and Regulations - The company did not adopt any new standards or interpretations that were not yet effective during the reporting period[10]. - The financial statements for the current period have been prepared in accordance with the Hong Kong Financial Reporting Standards, with no significant impact from the new standards adopted[9]. - The group has violated certain financial covenants related to bank loans, with a total amount of HKD 540,046,000, but has received waivers from lenders[75]. - The company continues to adhere to a 25% corporate income tax rate in China, with one subsidiary benefiting from a reduced rate of 15% due to high-tech enterprise certification[73]. Sustainability - The group is committed to sustainable development and has integrated green production and energy-saving practices into its business operations[92].

Financial Performance - For the financial year ending March 31, 2023, Karrie International Holdings reported a market capitalization of HK$1,839,527,872 as of March 31, 2023, and HK$1,495,879,808 as of June 30, 2023, with closing prices of HK$0.91 and HK$0.74 respectively[22][21]. - For the year ended 31 March 2023, the Group's revenue from continuing operations was HK$3,082 million, representing a 0.2% increase from HK$3,075 million in 2022[27]. - The profit attributable to equity shareholders for 2023 was HK$211 million, a decrease of 28% compared to HK$303 million in 2022[27]. - The gross profit margin for continuing operations was 10.9% in 2023, down from 14.2% in 2022, indicating a decline of 23%[30]. - The net profit margin for continuing operations was 5.9% in 2023, a decrease of 29% from 8.3% in 2022[30]. - The total assets of the Group as of 31 March 2023 were HK$5,066 million, compared to HK$5,066 million in 2022, showing no change[30]. - The Group's current ratio was 1.0 in 2023, down from 1.3 in 2022, reflecting a decrease of 23%[30]. - The net gearing ratio increased to 54% in 2023, compared to 18% in 2022, indicating a significant increase of 200%[30]. - The total cash dividends per share decreased to HK$5.5 cents in 2023, down 42% from HK$9.5 cents in 2022[30]. - Basic earnings per share for the year 2023 is HK$27.2 cents, an increase from HK$19.1 cents in 2022, representing a growth of approximately 42.8%[40]. - Dividends per share for 2023 is HK$9.5 cents, compared to HK$5.5 cents in 2022, indicating a significant increase of 72.7%[42]. Corporate Strategy and Operations - The company emphasizes a pragmatic, stable, and innovative approach to its operations, aiming to provide fruitful returns for shareholders[16][4]. - Karrie International Holdings continues to invest in the industrial sector, maintaining financial stability and pursuing growth through incremental improvements[17][16]. - The company operates under principles of seeking truth from facts and planning prudently, which guide its strategic decisions[6][16]. - The Group adopts practical measures such as recruiting talents, innovating research and development, diversifying products, and market expansion to address the high concentration of clients[92]. - The Group is committed to lean production and intelligent production technologies to adapt to market demands and improve operational efficiency[155]. - The Group aims to maintain financial stability and invest steadily in the industrial sector despite a volatile business environment[163]. - The Group is focused on improving its internal management system to address challenges related to increasing inventory and operating costs[181]. - The operating philosophy adopted by the Group is "Pragmatic, Stable, Innovative" to ensure continued prosperity amid external challenges[184]. Environmental and Social Responsibility - The Group received multiple awards for its commitment to environmental measures and employee retirement security, including the "Outstanding Environmental Enterprise" and "Best All-round MPF Employer" awards[24]. - The production base in Thailand completed the ISO 14001 audit in May 2023, enhancing its environmental management standards[36]. - The group was awarded the "Energy Saving Certificate" by the Hong Kong Green Organisation Certification for its contributions to energy conservation[36]. - The Group is committed to reducing energy or material consumption from the source and has implemented various environmental measures[85]. - The group received the "Outstanding Corporate Caring Awards" from the Hong Kong Sheng Kung Hui Welfare Council, recognizing its corporate social responsibility efforts[36]. Shareholder Information - The company announced its final dividend payment date for the 2022/23 financial year as September 21, 2023[10]. - The annual general meeting for the 2022/23 financial year is scheduled for August 30, 2023[10]. - The company has approximately HK$240,279,000 available for distribution to shareholders as reserves as of March 31, 2023[67]. - The Group has not purchased or sold any of its shares during the year, indicating a stable shareholding structure[69]. Market and Segment Performance - The revenue of the Metal & Plastic (M&P) segment for the year ended March 31, 2023, was HK$1,918,774,000, showing stability compared to HK$1,920,032,000 for the previous year[175]. - The revenue of the Electronics Manufacturing Services (EMS) segment increased by approximately 1% to HK$1,162,923,000 compared to HK$1,154,981,000 in the previous year[176]. - The Group faced significant challenges in 2022/23, including increased transportation costs and inflation due to the Russo-Ukrainian War, impacting profit margins[176]. - The Group aims to enhance its business in Mainland China and Southeast Asia, consolidate existing customer relationships, and actively develop new customers to increase market share[195]. - The company anticipates increased demand for servers driven by investments in AI models and generative tools, with existing customers entering an operating system update cycle in the second half of 2023[197]. Governance and Compliance - The Group emphasizes the importance of compliance with regulatory requirements and has been implementing systems to ensure ongoing compliance[86]. - The Group has complied with all relevant laws and regulations in Hong Kong, Bermuda, and mainland China[73]. - The Board has adopted a nomination policy that includes criteria such as reputation, experience, commitment, and diversity for assessing candidates for directorship[3][4]. - The Audit Committee's main duties include reviewing the Group's financial reporting process and monitoring the external auditor's independence and effectiveness[125][127]. - The nomination committee was established in January 2022, comprising independent non-executive directors to assess the suitability of candidates for the Board[133][134]. Innovation and Technology - The Group has successfully utilized over 900 robotic arms in various production processes, enhancing efficiency and reducing costs[155]. - The Group registered nearly 70 patents for automation, contributing to improved production quality and competitiveness[155]. - The Thailand plant has completed the installation of automated machines and is fully operational, with some products scheduled to start production in July 2023 and expected to be shipped in September 2023[200]. - The company is focused on improving operational efficiency through value engineering analysis, streamlining production processes, and enhancing automation capabilities for new products[198]. - The Group is committed to automation and efficiency improvements to reduce costs while maintaining quality service and product standards[186].

Financial Performance - For the fiscal year ending March 31, 2023, the total revenue was HKD 3,081,697,000, a slight increase from HKD 3,075,013,000 in the previous year[29]. - The net profit for the year was HKD 386,173,000, down from HKD 549,102,000 in the prior year, representing a decrease of approximately 29.7%[10]. - Basic earnings per share from continuing operations was HKD 0.14, compared to HKD 0.09 in the previous year, indicating a growth of 55.6%[9]. - The gross profit margin decreased to 10.9% from 14.3% year-on-year, reflecting increased cost pressures[29]. - The group's revenue for the period from April 1, 2022, to March 22, 2023, was HKD 778,992,000, a decrease from HKD 938,421,000 in the previous year, representing a decline of approximately 17%[49]. - Gross profit for the same period was HKD 574,712,000, down from HKD 710,272,000, indicating a decrease of about 19%[49]. - Operating profit decreased to HKD 498,573,000 from HKD 664,793,000, reflecting a decline of approximately 25%[49]. - The net profit before tax was HKD 501,580,000, compared to HKD 675,375,000 in the previous year, representing a decrease of around 26%[49]. - The company reported a net profit attributable to equity holders from continuing operations of HKD 182,318,000, down 28.3% from HKD 254,273,000 in the previous year[91]. - Basic earnings per share from continuing operations decreased to 9.0 HK cents from 12.6 HK cents year-on-year[89]. - The group reported a total of HKD 203,855,000 in profit from discontinued operations, compared to HKD 294,829,000 in the previous year, indicating a decrease of about 31%[49]. Assets and Liabilities - Total assets amounted to HKD 2,550,779,000, a decrease from HKD 5,066,066,000 in the previous year[28]. - The company’s bank borrowings decreased to HKD 422,372,000 from HKD 738,434,000, indicating improved liquidity management[5]. - Cash and cash equivalents totaled HKD 159,445,000, down from HKD 441,548,000, indicating a reduction of approximately 64%[46]. - Trade and bills receivables were HKD 560,793,000, a decrease from HKD 608,194,000, reflecting a decline of about 8%[60]. - The net interest-bearing borrowings as of March 31, 2023, amounted to approximately HKD 502.66 million, with a net interest-bearing borrowings ratio of 54% compared to 18% on March 31, 2022[168]. Revenue Segments - The revenue from the Hong Kong segment was HKD 1,021,279,000, up from HKD 932,259,000, showing a growth of 9.5%[20]. - The company plans to expand its market presence in North America, where revenue increased to HKD 666,401,000 from HKD 579,823,000, a growth of 15%[20]. - The group's revenue from hardware and plastics for the year ended March 31, 2023, was HKD 1,918,774,000, showing a slight decrease from HKD 1,920,032,000 in the previous year[121]. - The electronic manufacturing services segment reported a revenue increase of about 1% to HKD 1,162,923,000 for the fiscal year ending March 31, 2023, compared to HKD 1,154,981,000 in the previous year[151]. Operational Challenges - The group faced challenges due to strict pandemic control measures, which increased logistics costs and affected the global supply chain, alongside rising raw material and energy costs due to the Russia-Ukraine conflict[122]. - The company reported a loss from investment property valuation of HKD 29,577,000, compared to a gain of HKD 1,967,000 in the previous year, indicating challenges in the real estate sector[29]. Cost Management and Efficiency - The group aims to optimize internal management systems to control costs, reduce inventory, and maintain healthy cash flow amidst rising operational and financial costs[125]. - The company aims to enhance internal production cost efficiency and diversify products while strengthening its business in mainland China and Southeast Asia[162]. - The company plans to implement localization of spare parts to reduce inventory and transportation costs while increasing production efficiency[166]. - The group has implemented lean production and is utilizing over 900 robotic arms across various production processes, enhancing efficiency and reducing costs[97]. Dividends and Shareholder Returns - The company announced an interim dividend of 4.0 HK cents per share, compared to 4.5 HK cents in the previous year[93]. - The company plans to propose a final dividend of 1.5 HK cents per share, down from 4.0 HK cents in the previous year[93]. - The proposed final dividend is HKD 0.015 per share, with total annual dividends amounting to HKD 0.055 per share, down from HKD 0.095 per share in the previous fiscal year[192]. Governance and Management - The company has established an audit committee consisting of one non-executive director and three independent non-executive directors[198]. - The audit committee is responsible for reviewing and supervising the company's financial reporting procedures and internal controls[198]. - The financial statements for the year ended March 31, 2023, have been reviewed and agreed upon by the company's auditor, KPMG[199]. - The board believes that having one person serve as both chairman and CEO provides strong and consistent leadership for the company[197]. - The company does not separate the roles of chairman and CEO, as the board is composed of experienced and capable individuals[197]. - The company has a sufficient number of independent non-executive directors to ensure a balanced distribution of power and authority[198]. - The board of directors includes experienced individuals with relevant industry expertise[198]. - The company has no plans to change the current governance structure regarding the roles of chairman and CEO[197].

Financial Performance - Revenue for the six months ended September 30, 2022, was HK$2,199,088, an increase of 13.3% compared to HK$1,941,423 in 2021[17]. - Gross profit for the same period was HK$580,486, representing a gross margin of approximately 26.4%[17]. - Operating profit increased to HK$493,415, up 9.3% from HK$451,316 in the previous year[17]. - Profit for the period attributable to equity shareholders was HK$259,489, slightly up from HK$256,559 in 2021[20]. - Total comprehensive income for the period was HK$60,606, a significant decrease from HK$281,632 in the prior year, primarily due to exchange differences[20]. - Other income/gains rose to HK$8,224, up from HK$5,277 in the previous year, reflecting improved ancillary revenue streams[17]. - The group reported a profit before taxation of $481,019,000 for the six months ended September 30, 2022, up from $455,577,000 in the prior year, indicating a growth of approximately 5.6%[139]. Assets and Liabilities - For the six months ended September 30, 2022, Karrie International Holdings Limited reported total assets of HK$4,502,977,000, a decrease of 11% from HK$5,066,066,000 as of March 31, 2022[9]. - The company's total equity attributable to equity shareholders was HK$1,676,306,000, down from HK$1,696,552,000, reflecting a decline of approximately 1.5%[12]. - Current liabilities increased to HK$2,396,988,000, compared to HK$2,878,626,000, indicating a reduction of about 16.7%[12]. - Total liabilities decreased to HK$2,826,671,000 from HK$3,369,514,000, a reduction of about 15.9%[12]. - The company reported a total of HK$3,353,826,000 in current assets, down from HK$3,756,456,000, a decrease of about 10.7%[11]. - Trade payables rose to HK$527,829,000 from HK$375,951,000, reflecting an increase of approximately 40%[12]. - The balance of total equity as of September 30, 2022, was HK$1,676,306, up from HK$1,696,552 at the beginning of the period[22]. Cash Flow - Net cash generated from operating activities was HKD 217,103,000, a decrease from HKD 481,145,000 in the previous period[27]. - Net cash used in investing activities amounted to HKD 85,923,000, compared to HKD 111,888,000 in the prior period[27]. - Net cash used in financing activities was HKD 269,070,000, a significant decrease from a net cash generated of HKD 20,908,000 in the previous period[27]. - Cash and cash equivalents at the end of the period were HKD 629,829,000, down from HKD 1,057,729,000 at the end of the previous period[27]. - The company reported a net decrease in cash and cash equivalents of HKD 137,890,000 during the period[27]. Dividends - The company paid dividends of HKD 80,852,000 during the period, compared to HKD 141,259,000 in the prior period[27]. - An interim dividend of HK4.0 cents per share was declared for the six months ended 30 September 2022, down from HK4.5 cents per share in the same period last year[193]. - The final dividend for the year ended 31 March 2022 was $80,852,000, representing HK4.0 cents per share, compared to $141,259,000 or HK7.0 cents per share in the previous year[190]. Acquisitions - The company entered into an acquisition agreement to acquire Kar Info International Property Limited for a nominal consideration of USD 100 (approximately HKD 775)[36]. - The company also agreed to acquire Jiaxuntong for RMB 38,000,000 (approximately HKD 45,600,000) and assume debts of approximately RMB 276,278,000 (approximately HKD 331,600,000)[36]. - The acquisitions of Kar Info International and Jiaxuntong were completed on March 8, 2022, with the company becoming the ultimate holding company of both entities[40]. Financial Ratios and Earnings - Basic earnings per share for the period was HK 12.9 cents, slightly up from HK 12.7 cents in the previous period[16]. - Basic earnings per share rose from 12.7 HK cents to 12.9 HK cents, reflecting a growth of about 1.6%[185]. - The company reported a share of profits from associates of HK$104, a decrease from HK$933 in the previous year[17]. Operational Efficiency - Karrie International Holdings Limited continues to focus on enhancing operational efficiency and exploring market expansion opportunities[9]. - Employee benefit expenses for the six months ended September 30, 2022, were $229,085,000, a decrease of 3% from $236,106,000 in the same period of 2021[173]. - Distribution and selling expenses increased to HK$25,646, compared to HK$23,353 in 2021, indicating higher operational costs[17]. Accounting and Reporting - The interim financial report has been prepared in accordance with Hong Kong Accounting Standards and is unaudited but reviewed by the audit committee[32]. - The interim financial report has been prepared using the merger basis of accounting, reflecting the current group structure as if it had existed throughout the presented periods[41]. - The company adopted a uniform set of accounting policies when preparing the consolidated financial statements[42].