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].

Financial Performance - The Group reported a revenue of HK$4,013 million for the year, representing a 16% increase compared to HK$3,473 million in the previous year[43]. - Gross profit for the year was HK$1,148 million, reflecting a 21% increase from HK$946 million in the prior year[43]. - Profit attributable to equity shareholders was HK$549 million, up 23% from HK$445 million in the previous year[43]. - Basic earnings per share increased to 27.2 HK cents, a rise of 22% from 22.3 HK cents in the previous year[43]. - The Group's total assets amounted to HK$5,066 million, with shareholders' equity at HK$1,697 million[43]. - The gross profit margin improved to 28.6%, while the net profit margin was 13.7%[43]. - Revenue for the year ended 31 March 2022 was HK$4,013 million, an increase from HK$3,473 million in the previous year, representing a growth of 15.5%[159]. - Net profit for the year was HK$549 million, up from HK$445 million, reflecting a year-on-year increase of 23.4%[159]. - Gross profit margin improved to 28.6% in 2021/22, compared to 27.2% in 2020/21[159]. Market Capitalization - Market capitalization as of March 31, 2022, was HK$2,991,537,616, with a closing price of HK$1.48[20]. - Market capitalization as of June 30, 2022, decreased to HK$2,870,259,064, with a closing price of HK$1.42[20]. Corporate Governance - The company has a strong corporate governance structure with various committees overseeing operations[10]. - The Company has established an audit committee, a nomination committee, and a remuneration committee to maximize Board effectiveness and encourage active participation[192]. - The Company has implemented measures to ensure good corporate governance, including compliance with the Corporate Governance Code[171][176]. - The Board collectively holds responsibility for formulating the Group's overall objectives and strategies, as well as approving annual and interim results[182]. - The Company will continue to review its corporate governance practices to achieve high standards[176][179]. Dividends - The Group has recommended a final dividend of HK4.0 cents per share, down from HK7.0 cents per share in the previous year, resulting in a total dividend of HK9.5 cents per share for the year, compared to HK11.5 cents per share last year[138]. - The Group's dividend policy aims to distribute 30% or more of its profits attributable to shareholders as dividends, maintaining a 26-year record of uninterrupted dividend payments[149]. - The interim dividend for the year was HK4.5 cents per share, an increase from HK4.0 cents per share in the previous year[138]. - The Group's dividend policy aims to maintain a track record of consecutive annual payments, recommending a final dividend of HKD 4.0 cents per share for shareholders[99]. Business Expansion and Strategy - The company is focused on expanding its market presence and enhancing product offerings[6]. - The Group is committed to improving production efficiency and reducing costs for new products to enhance price competitiveness[71]. - The Thailand factory has officially opened, marking a key step in the Group's "China Plus One" strategy to diversify regional risks and increase production flexibility[69]. - The Group continues to invest in industrial development, diversify products, and enhance intelligent production to create value for customers and stakeholders[93]. - The Group plans to adapt its business development plans in response to market changes and explore potential customers to increase profit margins[106]. Employee Engagement and Well-being - The Group emphasizes employee well-being and organized recreational activities to support mental health during the ongoing pandemic[89]. - The average number of employees increased to approximately 3,700, up from 3,350 in the previous year, to meet order demand[129]. - The performance-based bonus system has been adopted, allowing employees with outstanding performance to receive higher bonuses than before[137]. - The Group has established a "Cooperative Home" program to encourage and finance local talent in purchasing flats, addressing the need for talent retention in a competitive labor market[131]. Environmental Initiatives - The Group received multiple awards for its environmental initiatives, including the "EcoChallenger" and "5 Years+ EcoPioneer" awards[22]. Financial Ratios and Metrics - The current ratio decreased to 1.3, and the quick ratio fell to 1.0, indicating a decline in liquidity[43]. - The Group's non-current assets to total equity ratio was 77% as of March 31, 2022, compared to 59% the previous year, indicating stable support from total equity[118]. - As of March 31, 2022, net interest-bearing borrowings were approximately HK$297,712,000, with a net interest-bearing borrowings ratio of 18%, up from 15% the previous year[112]. - The Group's total interest-bearing bank borrowings were approximately HK$1,201,184,000, with cash and bank deposits of approximately HK$924,048,000, ensuring sufficient resources for operational and capital expenditure needs[120]. Acquisitions and Investments - The Group completed the acquisition of Kar Info International Property Limited and Jiaxuntong for a total consideration of USD 100 and RMB 38,000,000, respectively, on March 8, 2022[83]. - The acquisition of Dongguan City Jiaxuntong Computer Products Limited contributed an estimated HK$26,097,000 to the profit for the year ended 31 March 2022[48]. - Without the acquisition, profit attributable to shareholders would have increased by approximately 42% compared to HK$365,281,000 in the previous year[48]. Revenue Breakdown - The revenue breakdown by business segments showed 23% from real estate, 48% from electronics manufacturing services, and 29% from metal and plastic business[39]. - The industrial business revenue increased by approximately 10% to HK$3,075,013,000, up from HK$2,793,374,000[54]. - The Real Estate Business recorded a revenue of HK$938,421,000, representing a 38% increase compared to HK$679,424,000 in the previous year[57]. - M&P revenue for the year ended March 31, 2022, increased by approximately 1% to HK$1,920,032,000, compared to HK$1,895,368,000 for the year ended March 31, 2021[58]. - EMS revenue for the year ended March 31, 2022, increased by approximately 29% to HK$1,154,981,000, compared to HK$898,006,000 for the year ended March 31, 2021, driven by increased market demand for storage products[58].

Financial Performance - For the six months ended September 30, 2021, Karrie International Holdings Limited reported total assets of HKD 4,454,837,000, an increase of 22% from HKD 3,651,437,000 as of March 31, 2021[6] - Revenue for the six months ended September 30, 2021, was HK$1,909,904, representing a 29.6% increase from HK$1,472,297 in 2020[10] - Gross profit for the same period was HK$525,048, with a gross profit margin of approximately 27.5%[10] - Operating profit increased significantly to HK$434,536, up from HK$223,358, marking a 94.5% growth year-over-year[10] - Profit for the period attributable to equity shareholders was HK$253,327, compared to HK$152,082 in 2020, reflecting a 66.6% increase[10] - Basic earnings per share rose to 17 HK cents, up from 12.6 HK cents, indicating a 34.1% increase[11] - Total comprehensive income for the period was HK$275,934, compared to HK$190,643 in the previous year, a growth of 44.7%[13] Assets and Liabilities - The company's current assets rose to HKD 3,452,365,000, up 26% from HKD 2,749,957,000 in the previous period[6] - Current liabilities increased to HKD 990,367,000, up 23% from HKD 803,798,000[8] - The net current assets improved to HKD 1,377,547,000, up from HKD 1,161,469,000, indicating a positive liquidity position[8] - Bank borrowings rose to HKD 316,949,000, reflecting a 5% increase from HKD 301,010,000[8] - Total bank borrowings increased to $1,100,864,000 as of September 30, 2021, from $917,466,000 as of March 31, 2021, reflecting a rise of approximately 19.9%[70] Investments and Cash Flow - Net cash generated from operating activities for the six months ended 30 September 2021 was HKD 114,692,000, compared to HKD 22,280,000 for the same period last year, representing a significant increase[20] - The net cash used in investing activities was HKD 114,912,000, up from HKD 34,394,000 in the previous year, indicating increased investment expenditures[20] - Cash and cash equivalents at the end of the period increased to HKD 166,289,000 from HKD 123,723,000, reflecting a net increase of HKD 20,688,000[20] Dividends - The company paid dividends of HK$141,259 during the period[15] - An interim dividend of HK 4.5 cents per share was declared, up from HK 4.0 cents per share in the previous year[95] - The final dividend for the year ended 31 March 2021 was $141,259,000, representing an increase from $99,882,000 in 2020[93] Operational Focus and Strategy - Karrie International is focusing on expanding its market presence and enhancing product development strategies[6] - The company is actively exploring potential mergers and acquisitions to drive growth and innovation[6] - The Group's operating segments include metal and plastic business, electronic manufacturing services, and real estate business, indicating a diversified operational focus[22] Employee and Management - Employee benefit expenses rose to $236,106,000, up 27.9% from $184,465,000 in the previous year[77] - The Group's employee count increased from approximately 3,400 to 3,690, reflecting a strong reputation in the local community and effective recruitment strategies[180][183] - Employee remuneration packages are aligned with market standards and performance, with bonuses awarded based on audited business performance[181][183] Real Estate and Development - The Group's real estate business recorded revenue of HK$400,322,000 for the period, a significant increase from HK$175,820,000 for the same period last year, with a total area of 12,236 square meters sold at an average price of approximately RMB29,700 per square meter[153] - The construction of the new "Karrie Craftsmanship Building" is progressing well, having completed the topping-out phase, and is designed with environmentally friendly materials to reduce energy consumption[151] - The renovation of the factory in Thailand has been completed, with trial production expected to commence in the first quarter of next year, despite delays in machinery shipment due to global trade transportation issues[152] Financial Position and Risk Management - The Group's financial position is considered healthy, with a non-current assets to total equity ratio of approximately 64%[171][176] - The Group actively manages foreign currency risk, primarily in HKD, USD, and RMB, and may use foreign exchange forward contracts to hedge against fluctuations[173][177] Shareholding Structure - Directors and chief executives hold significant interests in the company, with Mr. Ho Cheuk Fai holding 72.66% of the issued share capital[186][188] - The total number of shares in the Ho Family Trust is 817,608,000[200] - The ownership structure indicates a concentration of shares within the Ho family[200]

Financial Performance - Revenue for 2021 was HK$3,193 million, an increase from HK$2,902 million in 2020, representing a growth of approximately 10%[27]. - Profit attributable to equity shareholders for 2021 was HK$365 million, up from HK$250 million in 2020, marking a growth of 46%[27]. - Basic earnings per share increased to 18.3 HK cents in 2021 from 12.6 HK cents in 2020, reflecting a rise of 45%[28]. - Dividends per share for 2021 were 11.5 HK cents, compared to 9.0 HK cents in 2020, indicating a 28% increase[29]. - The gross profit margin improved to 22.4%, up from 18.2%, reflecting a 23% increase[46]. - The operating profit for the year was HK$533 million, a 40% increase from HK$381 million in the previous year[46]. - The real estate business recorded a revenue of HK$399 million, a 47% increase from HK$272 million in the previous year[51]. - The operating profit of the real estate business surged 67% to HK$230 million from HK$138 million in the previous year[51]. - The industrial business revenue increased by approximately 6% to HK$2,793 million from HK$2,630 million in the previous year[47]. - The net profit for the year 2020/21 was HK$365 million, up from HK$250 million in 2019/20, indicating a growth of 46%[134]. - The gross profit margin improved to 22.4% in 2020/21, compared to 18.2% in 2019/20, reflecting a positive trend in profitability[134]. Dividends and Shareholder Returns - The final dividend for the financial year 2020/21 is expected to be paid on September 15, 2021[11]. - A final dividend of HK7.0 cents per share has been recommended for distribution to shareholders[83]. - The company has maintained an unbroken 25 years' record of dividend payments, with a policy to distribute 30% or more of its profits attributable to shareholders as dividends[125]. - The company’s dividend payout ratio for 2020/21 was 60%, consistent with its policy of distributing a significant portion of profits[125]. Strategic Initiatives and Market Expansion - The company is focusing on a "go global" strategy to enhance capabilities and establish a long-term foundation in the ASEAN market[4]. - Investment in a new production complex is planned to expand business into the Mainland China market with a "Bringing In" strategy[4]. - The company aims to maintain a well-balanced and diversified business and customer base through ongoing change and reform[4]. - The company continues to prioritize innovation and competitive edge in the Mainland China market[4]. - The Group plans to expand its market share in server chassis by extending production bases overseas, starting with automated production lines in Thailand[64]. - The electric vehicle market is anticipated to grow rapidly, with the Group participating in orders related to electric vehicle charging piles, laying the foundation for its business in this area[88]. - The Group is actively seeking cooperation with other property developers for urban renewal projects in Guangdong, aiming to capitalize on the development potential of the Greater Bay Area[95]. Corporate Governance and Management - The Board of Directors consists of nine members, including Mr. Ho Cheuk Fai as Chairman and CEO, and has collective responsibility for the Group's leadership and governance[159]. - The Company is committed to enhancing shareholder value and providing superior products and services, with the Board responsible for formulating overall objectives and strategies[163]. - The Company has taken sufficient measures to avoid conflicts of interest in the nomination process, with relevant Directors abstaining from voting on their own reappointments[157]. - The Company’s governance practices comply with the Corporate Governance Code, with measures in place to ensure good corporate governance[154]. - The Board is responsible for approving annual results, interim and quarterly results, and declaring dividends[163]. - The Company has adopted a board diversity policy to achieve balanced diversity at the Board, considering various criteria such as gender, age, and cultural background[195]. - The Board reviewed its structure, size, and composition, concluding that it is well balanced and diversified with the necessary skills and experience for the Group's business[197]. Operational Developments - The company established additional automated production lines in Thailand to diversify its production base[18]. - A new production complex named "Karrie Craftsmanship Building" is under construction in Dongguan, China, with a gross floor area of approximately 44,500 sq.m, expected to be completed in phases by 2022[61]. - The Group invested in upgrading automation technology, including the application of 3D printing and the introduction of an intelligent inspection system to enhance product quality[56]. - The Thailand Plant is expected to commence production by the end of 2021, leveraging tax concessions and free investment policies to diversify the customer base and product portfolio[91]. Financial Position and Capital Expenditure - The Group's net interest-bearing borrowings as of March 31, 2021, were approximately HK$500,438,000, with a net interest-bearing borrowings ratio of 35%, down from 56% the previous year, indicating a healthier financial position[100]. - The non-current assets to total equity ratio as of March 31, 2021, was 63%, down from 76% the previous year, reflecting stable support from total equity[104]. - The initial estimate of the capital expenditure budget for the financial year 2021/22 is approximately HK$172,090,000, primarily for factory construction and machinery acquisition[105]. - The total interest-bearing bank borrowings amount to approximately HK$917,466,000, with cash and bank deposits of about HK$144,978,000, indicating sufficient resources to meet operational and capital expenditure needs[110]. Employee and Social Responsibility - The average number of employees during the year was approximately 3,350, a decrease from 3,500 in the corresponding period last year, reflecting stable recruitment conditions[116]. - The Group has adopted a performance-based bonus system, resulting in higher bonuses for employees with outstanding performance compared to the previous system[122]. - The Group is committed to sustainable operation and corporate social responsibility, focusing on environmental protection and community care[70]. - The Group has established a "Cooperative Home" program to encourage and finance local talent in purchasing flats, aimed at talent retention in a competitive labor market[118].

Financial Performance - Revenue for the six months ended September 30, 2020, was HK$1,472,297, an increase from HK$1,424,748 in the same period of 2019, representing a growth of 3.3%[18] - Gross profit for the period was HK$315,343, compared to HK$239,153 in 2019, reflecting a significant increase of 31.8%[18] - Operating profit rose to HK$223,358, up from HK$176,199 in the previous year, marking a growth of 26.8%[18] - Profit for the period attributable to equity shareholders was HK$152,082, an increase of 32.9% from HK$114,415 in 2019[21] - Basic and diluted earnings per share increased to HK$7.6, compared to HK$5.7 in the same period last year, representing a growth of 33.3%[18] - Total comprehensive income for the period was HK$190,643, compared to HK$49,270 in 2019, indicating a substantial increase of 286.5%[21] - Profit before taxation for the six months ended September 30, 2020, was $221,392,000, compared to $165,726,000 for the same period in 2019, indicating a growth of approximately 33.6%[66] - Profit attributable to equity shareholders increased to $152,082,000 in 2020 from $114,415,000 in 2019, representing a growth of approximately 32.9%[123] Assets and Liabilities - The unaudited consolidated total assets of Karrie International Holdings Limited as of September 30, 2020, amounted to HKD 3,394,728,000, an increase of 12.4% from HKD 3,018,785,000 as of March 31, 2020[6] - Non-current assets increased to HKD 913,027,000 from HKD 893,289,000, reflecting a growth of 2.0%[6] - Current assets rose to HKD 2,481,701,000, up 16.8% from HKD 2,125,496,000[6] - Total liabilities increased to HK$2,126,365 from HK$1,843,085, reflecting a rise of 15.4%[18] - Total equity as of September 30, 2020, was HK$1,268,363, up from HK$1,175,700 as of March 31, 2020, indicating an increase of 7.9%[18] Cash Flow and Investments - For the six months ended September 30, 2020, net cash generated from operating activities was HK$22,280,000, a decrease from HK$105,723,000 in the same period of 2019[35] - Cash and cash equivalents at the end of the period were HK$123,723,000, down from HK$254,936,000 at the end of the same period in 2019[35] - Cash generated from operations was HK$27,605,000, significantly lower than HK$112,081,000 in the previous year[35] - The company experienced a net decrease in cash and cash equivalents of HK$144,559,000 during the period[35] - Cash and bank deposits increased significantly to HKD 388,634,000, compared to HKD 297,482,000, representing a growth of 30.6%[6] - The group acquired property, plant, and equipment at a cost of approximately $42,877,000 during the six months ended September 30, 2020, compared to $32,562,000 for the same period in 2019[67] Business Segments and Revenue Sources - The company is engaged in multiple business segments, including Metal and Plastic Business, Electronic Manufacturing Services, and Real Estate Business[40] - Revenue from the metal and plastic business was $914,207,000, while the electronic manufacturing services business generated $394,732,000, and the real estate business contributed $175,820,000 for the six months ended September 30, 2020[60] - The turnover of the metal and plastic business increased by approximately 18% to HK$901,745,000 compared to HK$761,320,000 in the same period last year[181] - The electronic manufacturing services business turnover decreased by approximately 27% to HK$394,732,000 from HK$544,089,000 in the same period last year[182] - Overall industrial business revenue remained stable at HK$1,296,477,000, with operating profit rising approximately 19% to HK$136,640,000 from HK$115,289,000 in the same period last year[183] Strategic Focus and Future Outlook - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development[6] - Future outlook indicates a commitment to strategic acquisitions and partnerships to drive growth and innovation[6] - The Group is committed to automation processes in metal stamping, plastic injection moulding, and chassis assembly to enhance production efficiency and product quality[189] - The Group aims to develop new products in personal health care and automotive mould manufacturing during the period[189] - The Group plans to establish production bases in ASEAN countries to explore more business opportunities following the signing of the Regional Comprehensive Economic Partnership (RCEP)[195] Dividends and Share Capital - The company paid dividends of HK$99,692,000 during the period, consistent with the previous year's payment[35] - The final dividend for the year ended March 31, 2020, was $99,882,000, equivalent to 5.0 HK cents per share, consistent with the previous year[123] - An interim dividend of 4.0 HK cents per share and a special dividend of 0.5 HK cents per share were declared for the six months ended September 30, 2020, totaling $79,906,000 and $9,988,000 respectively[123] - The total issued and fully paid ordinary shares increased to 1,997,640,000 as of September 30, 2020, from 1,993,840,000 as of March 31, 2020, reflecting a slight increase of 0.2%[88] Other Financial Metrics - Other comprehensive income for the period was HK$38,561, compared to a loss of HK$65,145 in the previous year, showing a significant recovery[21] - The group recorded a gain on disposal of property, plant, and equipment amounting to $340,000 for the six months ended September 30, 2020, compared to a gain of $187,000 for the same period in 2019[67] - The group’s finance income for the six months ended September 30, 2020, was $1,968,000, while finance costs were $5,201,000, resulting in a net finance cost of $3,233,000[66] - Current taxation for Hong Kong profits tax increased to $11,006,000 from $7,332,000[116] - PRC taxes also rose to $58,304,000 from $43,979,000[116]