同心．光速．破局 WITH ONE HEART．LIGHTNING SPEED．TURNING THE TIDE 2024/25 可持續發展報告 際 控 股 有 限 SUSTAINABILITY REPORT 2024/25 Karrie International Holdings Limited 嘉 利 國 展 報 告 目錄 公 司 SUSTAINABILITY REPORT 2024/25 可 持 續 發 | 關於本報告 | 2 | | --- | --- | | 關於嘉利 | 4 | | 主席的話 | 6 | | 可持續發展管理 | 8 | | 管理模式 | 8 | | 可持續策略 | 10 | | 環境保護 | 13 | | 應對氣候變化 | 14 | | 資源節約 | 20 | | 控制排放 | 23 | | 人才 | 25 | | 員工關懷 | 26 | | 培訓及發展 | 33 | | 社區 | 40 | | 建設社區 | 41 | | 使命傳承 | 43 | | 經營 | 50 | | 企業管治 | 51 | | 產品責任 | 52 | | 供應商管理 | 55 | | 附錄 | 56 | ...

Karrie International Holdings Limited 嘉利國際控股有限公司 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號: 1050) N O T I F I C AT I O N L E T T E R 通 知 信 函 Dear non-registered shareholder(s), Karrie International Holdings Limited (the "Company") - Notice of Publication of 2024-2025 Annual Report, Circular and Notice of Annual General Meeting (the "Current Corporate Communications") The Current Corporate Communications of the Company has been published in English and Chinese language ...

Karrie International Holdings Limited 嘉利國際控股有限公司 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號: 1050) N O T I F I C AT I O N L E T T E R 通 知 信 函 Dear registered shareholder(s), Karrie International Holdings Limited (the "Company") - Notice of Publication of 2024-2025 Annual Report, Circular, Notice of Annual General Meeting and Proxy Form (the "Current Corporate Communications") The Current Corporate Communications of the Company has been published in English and Chinese ...

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） 股東週年大會通告 茲通告Karrie International Holdings Limited（「本公司」）謹定於二零二五年九月五 日（星期五）中午十二時正假座中國廣東省東莞市鳳崗鎮官井頭嘉輝路12號嘉輝會酒 店嘉宴廳一樓舉行股東週年大會（「股東週年大會」），討論以下事項： 普通決議案 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通告之內容概不負責，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通告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。 * 僅供識別 – 1 – 1. 省覽及採納截至二零二五年三月三十一日止年度本公司經審核綜合財務 報表及董事會（「董事會」）與核數師報告。 2. 考慮及宣派截至二零二五年三月三十一日止年度之末期股息。 3A. (i) 重選陳名妹小姐為執行董事； (ii) 重選陳毅文先生為執行董事； (iii) 重選何偉汗先生為執行董事；及 (iv) 重選方海城先生為獨立非執行董事 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之持牌證券商、銀行 經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有嘉利國際控股有限公司（「本公司」）之股份，應立即將本通函 交予買主或承讓人，或經手買賣或轉讓之銀行、持牌證券商或其他代理，以便轉交買主或 承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本通函之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不因本通函全部或任何部份內 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。 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） (1) 發行及購回股份的一般授權； (2) 建議重選董事； (3) 建議修訂現有公司細則； 及 (4) 股東週年大會通告 本公司謹訂於二零二五年九月五日（星期五）中午十二時正假座中國廣東省東莞市鳳崗鎮 官井頭嘉輝路12號嘉輝會酒店嘉宴廳一樓舉行股東週年大會，大會之通告載於本通函第 AGM-1至第AGM-6頁。無論 閣下能否出席股東 ...

[Corporate Information](index=4&type=section&id=Corporate_Information) The report provides essential company registration details, headquarters address, board members, committee structures, and key auditors and banks - The report provides key information including the company's basic registration details, headquarters address, board members, committee composition, and primary auditors and banks[8](index=8&type=chunk)[9](index=9&type=chunk)[12](index=12&type=chunk) - The Board of Directors comprises executive and independent non-executive directors, with Mr. Ho Cheuk Fai serving as Chairman and Chief Executive Officer. Changes in board members and committees, including new appointments and resignations, occurred during and after the reporting period[8](index=8&type=chunk)[9](index=9&type=chunk)[10](index=10&type=chunk) [Key Information for Shareholders](index=6&type=section&id=Key_Information_for_Shareholders) This section provides key financial calendar dates, market capitalization overview, and listing details for shareholders Key Dates for Fiscal Year 2025 | Event | Date | | :--- | :--- | | 2024/25 Annual Results Announcement | June 25, 2025 | | Annual General Meeting | September 5, 2025 | | Final Dividend Last Registration Date | September 10, 2025 | | Estimated Final Dividend Payment Date | September 30, 2025 | Market Capitalization Overview | Date | Closing Price (HKD) | Market Capitalization (HKD) | | :--- | :--- | :--- | | March 31, 2025 | 0.82 | 1,657,312,824 | | June 30, 2025 | 0.88 | 1,778,579,616 | - The company's shares are listed on the Main Board of The Stock Exchange of Hong Kong with stock code 1050, and each board lot consists of **2,000 shares**[21](index=21&type=chunk)[22](index=22&type=chunk) [Corporate Calendar](index=8&type=section&id=Corporate_Calendar) The company expanded its production capacity in Thailand, secured new orders, and received multiple awards, demonstrating comprehensive strengths - In January 2025, the Group announced an investment of approximately **HKD 115 million** to acquire about **70,000 square meters** of land in Amata Industrial Park, Chonburi, Thailand, planning to build a new production base to expand overseas server chassis and related product capacity[27](index=27&type=chunk) - The Group's Thailand plant successfully delivered data center-related orders to new clients and continued to achieve business growth during the reporting period. Concurrently, the Group leased additional production facilities in Thailand to support capacity expansion[24](index=24&type=chunk)[27](index=27&type=chunk) - The Group received multiple accolades during the reporting period, including the 'Excellence Award' from Dell, and several awards for corporate social responsibility, talent development, and environmental protection, highlighting its comprehensive capabilities[24](index=24&type=chunk)[26](index=26&type=chunk) [Financial Highlights](index=11&type=section&id=Financial_Highlights) The company achieved significant revenue and profit growth in FY2025, driven by metal and plastic business and North American sales Key Financial Data for FY2025 | Metric | 2025 (million HKD) | 2024 (million HKD) | Change Percentage | | :--- | :--- | :--- | :--- | | Revenue | 3,231 | 2,916 | 11% | | Gross Profit | 472 | 370 | 28% | | Operating Profit | 285 | 228 | 25% | | Profit for the Year | 204 | 170 | 20% | | Basic Earnings Per Share (HK cents) | 10.1 | 8.4 | 20% | | Total Cash Dividend Per Share (HK cents) | 5.5 | 5.5 | — | | Gross Profit Margin (%) | 14.6 | 12.7 | 15% | | Net Profit Margin (%) | 6.3 | 5.8 | 9% | | Net Gearing Ratio (%) | 43 | 39 | 10% | - By business segment, revenue from the Metal and Plastic business increased its contribution from **59% in FY2024 to 63% in FY2025**, while Electronic Manufacturing Services (EMS) decreased from **41% to 37%**[36](index=36&type=chunk)[37](index=37&type=chunk) - By geographical region, North America was the largest revenue source, accounting for **37% of total revenue**, followed by Hong Kong (**21%**) and Mainland China (**19%**)[39](index=39&type=chunk)[40](index=40&type=chunk) [Chairman's Statement](index=14&type=section&id=Chairman's_Statement) The Chairman's Statement reviews the company's strong financial performance, dividend policy, future outlook, and financial resources [Business Review and Results](index=14&type=section&id=Business_Review_and_Results) FY2025 saw the Group's revenue grow **11%** to **HKD 3.23 billion** and profit increase **21%** to **HKD 204.48 million**, driven by AI server demand and Thailand plant expansion Overall Performance for FY2025 | Metric | FY2025 (HKD) | FY2024 (HKD) | Year-on-Year Growth | | :--- | :--- | :--- | :--- | | Revenue | 3,231,329,000 | 2,915,981,000 | Approx. 11% | | Profit Attributable to Equity Holders | 204,481,000 | 169,659,000 | Approx. 21% | - Revenue from the Metal and Plastic (M&P) business increased by approximately **17%** to **HKD 2.03 billion**, primarily driven by increased demand for server chassis and mold orders, as well as large charging pile enclosure products[48](index=48&type=chunk) - Revenue from the Electronic Manufacturing Services (EMS) business saw a slight increase of approximately **1%** to **HKD 1.20 billion**, showing stable performance[48](index=48&type=chunk) - The Group's production facility in Thailand continued to expand and operate smoothly, with an investment of approximately **HKD 115 million** in January 2025 to acquire new land, planning to build a one-stop production base to optimize global capacity allocation[49](index=49&type=chunk)[50](index=50&type=chunk) [Dividend Policy](index=20&type=section&id=Dividend_Policy) The Board recommends a final dividend of **3.0 HK cents per share**, maintaining the full-year dividend at **5.5 HK cents per share** to uphold its consistent payment record FY2025 Dividend Details | Dividend Type | FY2025 (HK cents/share) | FY2024 (HK cents/share) | | :--- | :--- | :--- | | Interim Dividend | 2.5 | 1.5 | | Final Dividend (Proposed) | 3.0 | 4.0 | | **Total Full-Year Dividend** | **5.5** | **5.5** | - The company has maintained a record of continuous dividend payments for **29 consecutive years** since its listing in 1996, with a dividend policy target of distributing **30% or more** of profit attributable to shareholders[107](index=107&type=chunk) [Prospects](index=21&type=section&id=Prospects) The Group expects AI servers and charging pile products to drive future growth, focusing on Thailand plant completion to enhance global supply chain resilience and expand product lines - AI servers and charging pile-related products are expected to be the Group's primary drivers for future business growth[64](index=64&type=chunk)[66](index=66&type=chunk) - Completing the construction of the Thailand plant is a strategic focus for the Group's future development, aiming to strengthen global supply chain resilience and responsiveness through synergy between China and Thailand production lines[65](index=65&type=chunk)[66](index=66&type=chunk) - The Group has completed the preparation of new-generation AI server prototypes (including air-cooled and liquid-cooled configurations) and continues to invest in R&D to expand server peripheral product lines such as racks, brackets, rails, and liquid cooling systems[68](index=68&type=chunk) [Financial Resources](index=23&type=section&id=Financial_Resources) As of March 31, 2025, the Group's net interest-bearing borrowings were approximately **HKD 466 million**, with a **43%** net gearing ratio, supported by strong cash and unutilized banking facilities Financial Position Overview (As of March 31, 2025) | Metric | Amount (million HKD) | | :--- | :--- | | Net Interest-Bearing Borrowings | 466.3 | | Net Gearing Ratio | 43% | | Cash and Bank Balances | 191.2 | | Unutilized Banking Facilities | 853.7 | - The preliminary capital expenditure (CAPEX) budget for FY2025/26 is approximately **HKD 217 million**, primarily allocated for plant construction, machinery and equipment purchases, and computer systems[79](index=79&type=chunk)[83](index=83&type=chunk) [Corporate Governance Report](index=32&type=section&id=Corporate_Governance_Report) The Corporate Governance Report details the company's adherence to governance codes, board composition, committee functions, and risk management frameworks [Compliance and Deviations](index=32&type=section&id=Compliance_and_Deviations) The Group largely complied with the Corporate Governance Code, noting deviations regarding the Chairman's retirement by rotation and the combined Chairman/CEO roles, which the Board deems provides strong leadership - The Group deviated from Code Provision B.2.2, where the Chairman is not subject to retirement by rotation, but the Chairman will consider voluntary retirement at least once every three years to align with the code's spirit[119](index=119&type=chunk)[120](index=120&type=chunk)[122](index=122&type=chunk) - The Group deviated from Code Provision C.2.1, where the roles of Chairman and Chief Executive Officer are not separated, both held by founder Mr. Ho Cheuk Fai. The Board believes this provides strong and consistent leadership, and the Board's composition ensures a balance of power[124](index=124&type=chunk)[125](index=125&type=chunk)[128](index=128&type=chunk) [Board of Directors](index=33&type=section&id=Board_of_Directors) As of March 31, 2025, the Board comprises seven directors, including four executive and three independent non-executive directors, meeting listing rules and overseeing strategy, finance, and governance - The Board of Directors consists of **7 directors**, including **3 independent non-executive directors**, complying with listing rule requirements. The Board is responsible for leading and overseeing the Group's affairs[131](index=131&type=chunk)[168](index=168&type=chunk) - The company has adopted a Board Diversity Policy and believes the current Board composition is balanced in terms of skills, experience, and diverse perspectives. As of the reporting date, the Board includes at least one female director[141](index=141&type=chunk)[144](index=144&type=chunk)[145](index=145&type=chunk) - All directors participated in continuous professional development activities and completed relevant training during the reporting year[160](index=160&type=chunk)[161](index=161&type=chunk) [Board Committees](index=45&type=section&id=Board_Committees) The Board's Remuneration, Audit, and Nomination Committees, all chaired by independent non-executive directors, oversee compensation, financial reporting, risk management, and board structure - The Remuneration Committee, chaired by Dr. Lau Kin Wah, is responsible for formulating remuneration policies and has reviewed the remuneration packages for directors and senior management for the current year[178](index=178&type=chunk)[179](index=179&type=chunk) - The Audit Committee, chaired by Mr. Fong Hoi Shing, comprises three independent non-executive directors and is responsible for reviewing financial reports, internal controls, and risk management systems[182](index=182&type=chunk)[183](index=183&type=chunk) - The Nomination Committee, chaired by Dr. Lau Kin Wah, is responsible for reviewing the Board's structure, size, and composition, and recommending director candidates to the Board based on the adopted nomination policy[188](index=188&type=chunk)[189](index=189&type=chunk) [Accountability and Audit](index=55&type=section&id=Accountability_and_Audit) The Board affirms its responsibility for preparing true and fair financial statements, maintaining effective risk management and internal control systems, and disclosing auditor remuneration - The Board is responsible for the Group's risk management and internal control systems and considers them effective and adequate during the reporting year[203](index=203&type=chunk)[204](index=204&type=chunk) - The Group's risk management framework categorizes risks into four main types: strategic, operational, compliance, and financial and reporting[215](index=215&type=chunk) Auditor's Remuneration | Service Type | Amount (HKD) | | :--- | :--- | | Audit Services | 3,417,000 | | Non-Audit Services (primarily tax) | 1,336,000 | [Senior Management Profile](index=69&type=section&id=Senior_Management_Profile) This section provides detailed profiles of the executive directors, independent non-executive directors, and key management personnel, outlining their backgrounds, experience, and responsibilities - This section details the backgrounds, experience, and responsibilities of executive directors, independent non-executive directors, and core management personnel. Founder Mr. Ho Cheuk Fai serves as Chairman and Chief Executive Officer, responsible for the Group's overall strategy. Other senior executives possess extensive experience in human resources, manufacturing, and marketing[254](index=254&type=chunk)[258](index=258&type=chunk)[264](index=264&type=chunk)[276](index=276&type=chunk) [Report of the Directors](index=76&type=section&id=Report_of_the_Directors) The Report of the Directors covers the company's principal activities, business analysis, share schemes, and disclosures regarding directors' and shareholders' interests [Principal Activities and Business Analysis](index=76&type=section&id=Principal_Activities_and_Business_Analysis) The Group operates in Metal and Plastic and EMS, facing risks like high customer concentration and supply volatility, mitigated by diversification and supply chain flexibility - The Group primarily engages in two main businesses: Metal and Plastic (M&P) and Electronic Manufacturing Services (EMS)[281](index=281&type=chunk)[285](index=285&type=chunk) - The Group faces key risks including high customer concentration, volatility in raw material supply, and uncertainties in the global macroeconomic environment[316](index=316&type=chunk)[319](index=319&type=chunk)[320](index=320&type=chunk) Key Customer and Supplier Concentration (FY2025) | Category | Percentage | | :--- | :--- | | **Sales** | | | Largest Customer | 37% | | Top Five Customers Combined | 90% | | **Procurement** | | | Largest Supplier | 49% | | Top Five Suppliers Combined | 63% | [Share Schemes](index=83&type=section&id=Share_Schemes) The company adopted new share option and share award schemes in August 2023, with **5.72 million** awarded shares and **1.15 million** outstanding options under the old scheme - The company adopted new share option and share award schemes on August 30, 2023, both with a **10-year validity period**[369](index=369&type=chunk)[378](index=378&type=chunk) - During the reporting year, **5,720,000** awarded shares were granted to directors and employees under the new share award scheme[378](index=378&type=chunk)[386](index=386&type=chunk)[387](index=387&type=chunk) - As of March 31, 2025, **1,150,000** share options remained unexercised under the old share option scheme, with a weighted average remaining contractual life of **1.57 years**[341](index=341&type=chunk)[940](index=940&type=chunk) [Directors and Shareholders' Interests](index=112&type=section&id=Directors_and_Shareholders%27_Interests) This section details directors', chief executives', and substantial shareholders' interests in company shares, with Chairman Mr. Ho Cheuk Fai and his family holding approximately **72.57%** - Chairman Mr. Ho Cheuk Fai and his family collectively hold approximately **72.57%** of the company's share interests[435](index=435&type=chunk) - Major shareholders include New Sense (**24.12%**), Castfast Properties (**16.33%**), and The Wedding City (**12.86%**), all related to Mr. Ho Cheuk Fai's family trust or his personal interests[447](index=447&type=chunk) [Independent Auditor's Report](index=123&type=section&id=Independent_Auditor%27s_Report) KPMG issued an unqualified opinion on the consolidated financial statements for the year ended March 31, 2025, highlighting key audit matters related to revenue recognition timing and inventory valuation - KPMG, the auditor, issued an unqualified opinion on the Group's consolidated financial statements for the year ended March 31, 2025, affirming that the statements present a true and fair view of the Group's financial position, performance, and cash flows[476](index=476&type=chunk) - The report identified two key audit matters: 1. **Timing of revenue recognition**: Due to diverse sales contract terms, there is an increased risk of errors in revenue recognition timing 2. **Inventory valuation**: Due to the Group holding significant inventory and the assessment of inventory provisions involving substantial management judgment[480](index=480&type=chunk)[483](index=483&type=chunk)[490](index=490&type=chunk) [Consolidated Financial Statements](index=132&type=section&id=Consolidated_Financial_Statements) This section presents the Group's consolidated financial statements, including the statement of financial position, profit or loss, and cash flows, providing a comprehensive overview of its financial health and performance [Consolidated Statement of Financial Position](index=132&type=section&id=Consolidated_Statement_of_Financial_Position) As of March 31, 2025, the Group's total assets increased **5%** to **HKD 2.53 billion**, total equity rose **9%** to **HKD 1.08 billion**, and the current ratio improved to **1.2** Consolidated Statement of Financial Position Summary (As of March 31) | Item (million HKD) | 2025 | 2024 | | :--- | :--- | :--- | | **Non-Current Assets** | 1,141.8 | 1,059.9 | | **Current Assets** | 1,390.9 | 1,342.8 | | **Total Assets** | **2,532.7** | **2,402.7** | | **Total Equity** | **1,078.8** | **993.0** | | **Current Liabilities** | 1,181.7 | 1,212.7 | | **Non-Current Liabilities** | 272.2 | 197.0 | | **Total Liabilities** | **1,453.9** | **1,409.7** | [Consolidated Statement of Profit or Loss](index=135&type=section&id=Consolidated_Statement_of_Profit_or_Loss) For FY2025, the Group's revenue grew **11%** to **HKD 3.23 billion**, gross profit surged **28%** to **HKD 472.1 million**, and net profit increased **20%** to **HKD 204.5 million** Consolidated Statement of Profit or Loss Summary (For the year ended March 31) | Item (million HKD) | 2025 | 2024 | | :--- | :--- | :--- | | Revenue | 3,231.3 | 2,916.0 | | Gross Profit | 472.1 | 370.1 | | Operating Profit | 285.0 | 228.4 | | Profit Before Tax | 247.6 | 187.0 | | **Profit for the Year** | **204.5** | **169.7** | [Consolidated Cash Flow Statement](index=139&type=section&id=Consolidated_Cash_Flow_Statement) In FY2025, net cash from operations was **HKD 261.8 million**, with net outflows from investing (**HKD 142.8 million**) and financing (**HKD 77.9 million**), increasing year-end cash to **HKD 191.2 million** Consolidated Cash Flow Statement Summary (For the year ended March 31) | Item (million HKD) | 2025 | 2024 | | :--- | :--- | :--- | | Net Cash Generated from Operating Activities | 261.8 | 318.2 | | Net Cash Used in Investing Activities | (142.8) | (94.4) | | Net Cash Used in Financing Activities | (77.9) | (232.4) | | **Net Increase/(Decrease) in Cash and Cash Equivalents** | **41.1** | **(8.7)** | | Cash and Cash Equivalents at Year-End | 191.2 | 149.4 | [Five-Year Financial Summary](index=289&type=section&id=Five-Year_Financial_Summary) This section provides a five-year summary of the Group's financial performance, assets, and liabilities, offering a historical perspective on its financial trends Five-Year Financial Performance Summary (Continuing Operations) | For the year ended March 31 (thousand HKD) | 2025 | 2024 | 2023 | 2022 (Restated) | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | 3,231,329 | 2,915,981 | 3,081,697 | 3,075,013 | 3,472,798 | | Operating Profit | 285,026 | 228,372 | 210,785 | 303,296 | 743,992 | | Profit for the Year | 204,481 | 169,659 | 182,318 | 254,273 | 445,328 | Five-Year Assets and Liabilities Summary | As of March 31 (thousand HKD) | 2025 | 2024 | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Assets | 2,532,706 | 2,402,721 | 2,550,779 | 5,066,066 | 4,430,888 | | Total Equity | 1,078,784 | 993,004 | 936,762 | 1,696,552 | 1,696,706 | | Total Liabilities | 1,453,922 | 1,409,717 | 1,614,017 | 3,369,514 | 2,734,182 |

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。 建議修訂現時本公司細則 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） 承董事會命 嘉利國際控股有限公司 主席 何焯輝 本公告由嘉利國際控股有限公司（「本公司」）就有關於香港聯合交易所有限公 司證券上市規則第13.51(1)而作出。 本公司董事（「董事」）會（「董事會」）建議修訂（「建議修訂」）現時本公司細則（「現 時細則」）及採納新一套細則（「新細則」），作為本公司新細則以取代及免除現 時細則。 建議修訂的主要目的為：(i)允許本公司在召開及舉行實體股東大會以外的電子 及╱或混合股東大會；(ii)使現有公司細則符合有關擴大無紙化上市制度的最 新監管規定及其他相關上市規則修訂；及(iii)更新、現代化或編纂現有公司細 則的條文，使之更符合上市規則及百慕達適用法例，並作出其他相應及內務變 動。 採 ...

EF001 免責聲明 | 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 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。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 嘉利國際控股有限公司 | | 股份代號 | 01050 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年3月31日止年度的末期股息 | | 公告日期 | 2025年6月25日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年3月31日 | | 宣派股息的報告期末 | 2025年3月31日 | | 宣派股息 | 每 股 0.03 HKD | | 股東批准日期 | 2025年9月5日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.03 HKD | | 匯率 | 1 HKD : 1 HKD | ...

[Performance Announcement](index=1&type=section&id=Performance%20Announcement) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company achieved robust performance for the year ended March 31, 2025, with total revenue increasing 11% to HKD 3.23 billion and profit for the year growing 21% to HKD 204.48 million, while maintaining stable annual dividends FY2025 Financial Highlights | Metric | 2025 | 2024 | Percentage Change | | :--- | :--- | :--- | :--- | | Revenue (HKD Thousands) | 3,231,329 | 2,915,981 | 11% | | Profit for the Year (HKD Thousands) | 204,481 | 169,659 | 21% | | Basic EPS (HKD Cents) | 10.1 | 8.4 | 20% | | Total Annual Dividends Per Share (HKD Cents) | 5.5 | 5.5 | — | [Consolidated Financial Statements](index=2&type=section&id=Consolidated%20Financial%20Statements) This section provides detailed consolidated financial statements, including the statement of financial position, profit or loss, and comprehensive income, reflecting growth in assets and equity, double-digit increases in revenue and profit, and a significant turnaround in total comprehensive income [Consolidated Statement of Financial Position (Balance Sheet)](index=2&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, total assets grew to HKD 2.53 billion, driven by increased property, plant, and equipment, while total equity rose 8.6% to HKD 1.08 billion and total liabilities slightly increased to HKD 1.45 billion, maintaining a robust financial structure Balance Sheet Summary (HKD Thousands) | Metric | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **2,532,706** | **2,402,721** | | Non-current Assets | 1,141,767 | 1,059,915 | | Current Assets | 1,390,939 | 1,342,806 | | **Total Equity** | **1,078,784** | **993,004** | | **Total Liabilities** | **1,453,922** | **1,409,717** | | Current Liabilities | 1,181,734 | 1,212,743 | | Non-current Liabilities | 272,188 | 196,974 | [Consolidated Statement of Profit or Loss](index=5&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss) For the year ended March 31, 2025, Group revenue grew 11% to HKD 3.23 billion and gross profit increased 27.5% to HKD 472.08 million, leading to a strong 21% rise in profit for the year to HKD 204.48 million despite higher expenses and taxes Profit or Loss Summary (HKD Thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Revenue | 3,231,329 | 2,915,981 | | Gross Profit | 472,076 | 370,139 | | Operating Profit | 285,026 | 228,372 | | Profit Before Tax | 247,576 | 186,999 | | **Profit for the Year** | **204,481** | **169,659** | [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=6&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) Total comprehensive income for the year was HKD 217.4 million, a significant 86% increase from HKD 116.9 million last year, primarily driven by increased profit and a favorable turnaround in exchange differences - Total comprehensive income for the year was **HKD 217.4 million**, a significant increase from **HKD 116.9 million** last year, primarily due to a turnaround in exchange differences from loss to gain[11](index=11&type=chunk) Comprehensive Income Summary (HKD Thousands) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Profit for the Year | 204,481 | 169,659 | | Other Comprehensive Income/(Loss) for the Year | 12,914 | (52,773) | | **Total Comprehensive Income for the Year** | **217,395** | **116,886** | [Notes to the Financial Statements](index=7&type=section&id=Notes%20to%20the%20Financial%20Statements) This section details the basis of financial statement preparation, accounting policy changes, and key items like segment reporting, revenue, EPS, and dividends, noting the hardware and plastic business as a primary growth driver and high customer concentration [Segment Reporting](index=8&type=section&id=Segment%20Reporting) The Group's operations are divided into Hardware and Plastic and EMS segments, with the Hardware and Plastic business being the primary growth engine, showing significant revenue and profit increases, while EMS remained stable, and customer concentration is high with the top five clients contributing 90% of total revenue Revenue by Business Segment (HKD Thousands) | Business Segment | 2025 Revenue | 2024 Revenue | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Hardware and Plastic Business | 2,027,028 | 1,725,255 | +17.5% | | Electronics Manufacturing Services Business | 1,204,282 | 1,190,648 | +1.1% | Profit by Business Segment (HKD Thousands) | Business Segment | 2025 Segment Profit | 2024 Segment Profit | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Hardware and Plastic Business | 297,564 | 238,807 | +24.6% | | Electronics Manufacturing Services Business | 30,989 | 24,528 | +26.3% | - The Group has high customer concentration, with revenue from the **top five clients** accounting for approximately **90%** of total Group revenue for the year ended March 31, 2025[19](index=19&type=chunk) [Earnings Per Share](index=18&type=section&id=Earnings%20Per%20Share) Both basic and diluted earnings per share for the current year were HKD 10.1 cents, a 20% increase from HKD 8.4 cents in the prior year, aligning with the growth in profit attributable to equity holders Earnings Per Share Calculation | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Basic EPS (HKD Cents) | 10.1 | 8.4 | | Diluted EPS (HKD Cents) | 10.1 | 8.4 | [Dividends](index=19&type=section&id=Dividends) The Board recommends a final dividend of HKD 3.0 cents per share, bringing the total annual dividend to HKD 5.5 cents per share, consistent with the previous fiscal year and reflecting the company's stable shareholder return policy Dividends Per Share Details (HKD Cents) | Dividend Type | 2025 | 2024 | | :--- | :--- | :--- | | Interim Dividend | 2.5 | 1.5 | | Proposed Final Dividend | 3.0 | 4.0 | | **Total Annual Dividends** | **5.5** | **5.5** | [Management Discussion and Analysis](index=20&type=section&id=Management%20Discussion%20and%20Analysis) Management attributes this year's performance growth to high-performance server demand driven by generative AI, successfully capitalizing on market opportunities with new server orders and mature Thailand plant operations, and will continue focusing on AI servers and charging piles, with Thailand plant expansion as a core strategy to enhance supply chain resilience [Business Review](index=20&type=section&id=Business%20Review) This year's revenue grew 11% and profit 21%, primarily driven by AI-related server demand, with the Hardware and Plastic business growing 17% due to increased orders, while the EMS business remained stable, and the Group actively expanded its Thailand production base and enhanced smart manufacturing in Mainland China - Performance growth primarily benefited from the expansion of generative artificial intelligence (AI) applications, driving a significant increase in global demand for high-performance servers and leading to the mass production of new-generation server orders[34](index=34&type=chunk) - To support long-term development, the Group acquired approximately **70,000 square meters** of land in Amata Industrial Park, Thailand, in January 2025, planning to build a one-stop production base to optimize global capacity allocation[36](index=36&type=chunk) - Despite US-China trade tensions, goods directly exported to the US and subject to tariffs accounted for only approximately **1%** of total Group revenue, indicating a minor short-term impact[36](index=36&type=chunk) [Outlook and Strategies](index=23&type=section&id=Outlook%20and%20Strategies) AI servers and charging pile-related products are expected to be key growth drivers, with core strategies focusing on perfecting Thailand plant construction for production synergy, developing new AI server prototypes and liquid cooling solutions, expanding Mainland China clients, and integrating AI technology for internal management efficiency - AI servers and charging pile-related products are expected to remain the **primary business drivers** for the Group[42](index=42&type=chunk) - The comprehensive construction of the Thailand plant is central to future development strategy, aiming to **expand production capacity** and enhance global supply chain resilience[42](index=42&type=chunk) - To seize AI market opportunities, the Group has completed preparations for new-generation AI server prototypes and offers clients server products with both air-cooled and liquid-cooled configurations[43](index=43&type=chunk) [Financial Resources and Risk Management](index=25&type=section&id=Financial%20Resources%20and%20Risk%20Management) The Group maintains a healthy financial position with a 43% net interest-bearing borrowings ratio, ample cash and unutilized bank facilities to cover operations and planned HKD 115 million fixed asset investments, while managing RMB exchange rate fluctuations through price adjustments and forward foreign exchange contracts Financial Position Indicators | Metric | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Net Interest-bearing Borrowings (HKD Thousands) | 466,349 | 383,879 | | Net Interest-bearing Borrowings Ratio | 43% | 39% | - The Group possesses ample resources, with approximately **HKD 191 million** in cash and **HKD 854 million** in unutilized bank borrowing facilities[49](index=49&type=chunk) - To mitigate RMB exchange rate fluctuation risks, the Group will actively communicate with clients to adjust product prices and may utilize forward foreign exchange contracts for hedging[50](index=50&type=chunk) [Other Corporate Information](index=27&type=section&id=Other%20Corporate%20Information) This section covers dividend arrangements, share repurchases, and corporate governance, noting small-scale share repurchases and explaining deviations from governance codes regarding the Chairman's rotation and the combined Chairman and CEO roles [Share Repurchases](index=28&type=section&id=Share%20Repurchases) For the year ended March 31, 2025, the company repurchased 346,000 shares on the Stock Exchange for approximately HKD 265,320, which will be held as treasury stock Share Repurchase Details | Year/Month | Number of Shares Repurchased | Highest Price Paid Per Share (HKD) | Lowest Price Paid Per Share (HKD) | Total Consideration (HKD) | | :--- | :--- | :--- | :--- | :--- | | December 2024 | 346,000 | 0.77 | 0.76 | 265,320 | [Corporate Governance](index=28&type=section&id=Corporate%20Governance) The company adheres to high corporate governance standards, complying with most code provisions, but notes deviations where the Chairman is not subject to retirement by rotation and concurrently holds the CEO role, which the Board believes provides strong, consistent leadership for long-term development - The company deviates from the Corporate Governance Code as the Chairman and/or Managing Director are **not subject to retirement by rotation**[57](index=57&type=chunk) - The roles of Chairman and Chief Executive Officer are **not separated**, with founder Mr. Ho Cheuk Fai holding both positions, which the Board believes provides strong, consistent leadership and effective execution of business strategies[58](index=58&type=chunk)

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） 董事名單與其角色和職能 嘉 利 國 際 控 股 有 限 公 司（「本公司」）董 事 會（「董事會」）自 二 零 二 五 年 六 月 二十四日起的成員載列如下： 執行董事 何焯輝先生 （主席兼行政總裁） 陳名妹小姐 趙凱先生 陳毅文先生 何偉汗先生 獨立非執行董事 方海城先生 劉健華博士 林燕勝先生 本公司已設立三個董事委員會，並制定有關職權範圍。自二零二五年六月 二十四日起，下表提供各董事會成員於各董事委員會所擔任的職務。 | | 董事委員會 | 審核委員會 | 薪酬委員會 | 提名委員會 | | --- | --- | --- | --- | --- | | 董事 | | | | | | 陳名妹小姐 | | — | M | M | | 方海城先生 | | C | M | M | | 劉健華博士 | | M | C | C | | 林燕勝先生 | | M | — | — | 附註： C 有關董事委員會的主席 M 有關董事委員會的成員 香港，二零二五年六月 ...