Financial Performance - Revenue for the year ended December 31, 2024, increased by 10.6% to HKD 8,765.9 million compared to HKD 7,927.3 million in 2023[3] - Gross profit rose by 13.6% to HKD 4,507.9 million, up from HKD 3,967.7 million in the previous year[3] - Operating profit increased by 35.7% to HKD 500.0 million, compared to HKD 368.4 million in 2023[3] - Net profit for the year surged by 70.8% to HKD 356.2 million, up from HKD 208.5 million in 2023[3] - Basic earnings per share improved by 75.0% to HKD 0.21, compared to HKD 0.12 in the previous year[3] - The company reported a total comprehensive income of HKD 182.3 million for the year, compared to HKD 102.9 million in 2023[7] - Profit before tax rose by 93.3% to approximately HKD 379.6 million from approximately HKD 196.4 million in 2023[101] - Net profit margin for 2024 was 4.1%, compared to 2.6% in 2023, indicating an improvement of 57.7%[105] Assets and Liabilities - Non-current assets decreased to HKD 5,768.5 million from HKD 5,922.0 million in 2023[8] - Current assets decreased to HKD 4,635.1 million from HKD 5,451.4 million in 2023[8] - Total liabilities decreased significantly from HKD 5,184.2 million in 2023 to HKD 3,205.9 million in 2024[8] - Trade receivables for 2024 amount to HKD 1,115,910,000, down from HKD 1,232,046,000 in 2023, a decrease of about 9.4%[51] - The total inventory for 2024 is HKD 1,712,437,000, an increase from HKD 1,462,781,000 in 2023, representing a growth of approximately 17.0%[50] - The total interest-bearing bank loans and other borrowings amounted to HKD 1,455,057,000 as of December 31, 2024, down from HKD 2,793,847,000 in 2023, indicating a reduction of about 48%[61] Revenue Breakdown - Revenue from product sales in 2024 was HKD 8,734,457,000, up from HKD 7,891,887,000 in 2023, indicating a growth of about 10.7%[30] - Revenue from external customers in the Asia-Pacific region was HKD 3,593,925,000 in 2024, down from HKD 3,794,361,000 in 2023, reflecting a decline of approximately 5.3%[26] - The automotive seat segment's revenue from external customers was HKD 3,873,957,000, contributing significantly to the overall revenue growth[23] - The strategic brand CYBEX achieved a revenue of approximately HKD 4,467.3 million, marking a strong growth of 20.8% compared to the previous year[86] - Evenflo brand recorded a moderate revenue growth of 4.6% to approximately HKD 2,385.3 million, driven by significant growth in digital channels[86] - The gb brand experienced a revenue decline of 20.9% to approximately HKD 918.1 million, attributed to ongoing brand transformation challenges[86] Expenses and Costs - The cost of goods sold for 2024 was HKD 4,241,202,000, compared to HKD 3,940,935,000 in 2023, reflecting an increase of approximately 7.6%[38] - Research and development expenses for 2024 amounted to HKD 430,483,000, an increase from HKD 381,323,000 in 2023, showing a rise of about 12.9%[38] - Selling and distribution expenses rose to approximately HKD 2,456.5 million, an increase of approximately HKD 189.8 million from 2023, driven by marketing and logistics costs[95] - Administrative expenses increased to approximately HKD 1,568.3 million, up by approximately HKD 106.7 million, mainly due to higher R&D and personnel costs[96] Taxation - The company's current tax expense for 2024 is HKD 123,465,000, compared to HKD 73,218,000 in 2023, reflecting an increase of approximately 68.7%[44] - The total income tax expense reported in the profit and loss statement for 2024 is HKD 23,354,000, compared to a tax credit of HKD (12,031,000) in 2023[44] Shareholder Information - The company plans to distribute a dividend of HKD 0.07 per share for the fiscal year ending December 31, 2024, compared to no dividend in 2023[47] - The board declared a final dividend of HKD 0.07 per share for the year ending December 31, 2024, compared to no dividend in 2023[120] - The annual general meeting is scheduled for May 27, 2025, with the record date for dividend entitlement set for June 6, 2025[121] Corporate Governance - The company has complied with all corporate governance codes except for a deviation regarding the frequency of board meetings, which were held three times instead of the required four[123] - The audit committee reviewed the financial results for the year ending December 31, 2024, and the independent auditor confirmed the accuracy of the financial statements[126] Strategic Focus - The company continues to focus on the design, research, and development of children's products, indicating ongoing investment in innovation[11] - The company remains confident in its vertically integrated brand-driven strategy and plans to continue strategic investments to enhance global competitiveness[90] - The company continues to focus on strategic investments in brand building, product innovation, and digital infrastructure[83]

Investment Rating - The report highlights a positive outlook for the infant and child industry, particularly in light of recent government policies aimed at boosting birth rates and consumer spending in this sector [2][4]. Core Insights - The introduction of substantial child-rearing subsidies in cities like Hohhot is expected to accelerate the deployment of national-level child-rearing policies, positively impacting the infant and child market [2][5]. - The Chinese maternal and infant market is projected to grow from approximately 5.1 trillion yuan in 2023 to 5.4 trillion yuan in 2024, driven by increased consumer spending despite a declining birth rate [6]. - Companies like Kidswant are implementing aggressive expansion strategies to capture market share, particularly in lower-tier cities, which will likely enhance their market penetration [7]. Summary by Sections Policy Impact - Hohhot's child-rearing subsidy of 12,000 yuan for the first child and 30,000 yuan for the second child is significantly higher than previous city-level policies, indicating a potential shift in national policy [2]. - Following similar policies in Tianmen, the birth rate increased by 17% in 2024, demonstrating the effectiveness of financial incentives in boosting birth rates in lower-tier cities [4]. Market Size and Growth - The average annual spending on children in Chinese families ranges from 17,000 to 25,000 yuan, suggesting that the new subsidies could significantly increase consumer spending in the infant and child sector [2][3]. - The infant and child product market, particularly for ages 0-6, is estimated to be around 500 billion yuan, with essential goods like milk powder and diapers making up a substantial portion [6]. Company Strategies - Kidswant's "Three Expansion" strategy aims to open franchise stores in 1,000 counties by 2025, alongside investments in e-commerce and AI technologies to enhance customer engagement [7]. - Goodbaby International, a key player in the durable infant products market, is expected to benefit from the favorable policies due to its established brand and comprehensive product range [10]. Consumer Trends - Despite a decline in the population of children aged 0-14, spending on children's clothing and shoes has increased, indicating a shift in consumer priorities towards quality and functionality [12]. - The children's apparel market is projected to grow, with brands like Balabala maintaining a significant market share despite competitive pressures [13]. Future Outlook - The report suggests that the infant and child market will see a recovery in demand, particularly in the 0-6 age segment, driven by favorable government policies and increased consumer spending [14]. - Companies with strong market positions and innovative strategies, such as Goodbaby International and Kidswant, are well-positioned to capitalize on these trends [14].

Should you have any queries relating to this letter, please contact the Hong Kong Share Registrar at (852) 2862 8688 during business hours from 9:00 a.m. to 6:00 p.m. (Hong Kong time), Mondays to Fridays, excluding Hong Kong public holiday. Arrangement of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07 of the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") under the expansion of paperless listing regime and electronic diss ...

Goodbaby International Holdings Limited 好孩子國際控股有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） (Stock Code 股份代號：1086) Dear registered shareholder(s), 7 March 2025 Arrangement of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07 of the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") under the expansion of paperless listing regime and electronic dissemination of corporate communications that c ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 好孩子國際控股有限公司 ( 於開曼群島註冊成立之有限公司 ) (股份代號： 1086) 董事會召開日期 好孩子國際控股有限公司(「本公司」，連同附屬公司，統稱「本集團」) 董事會(「董事 會」) 兹通告謹定於2025年3月26日(星期三) 舉行董事會會議，以考慮及通過本集團截至 2024年12月31日止的年度全年業績，及建議派發之末期股息(如有)，以及處理其他事項。 承董事會命 好孩子國際控股有限公司 主席 宋鄭還 香港，2025年3月6日 於本公告日期，執行董事為宋鄭還先生、劉同友先生及Martin POS先生；非執行董事為富 晶秋女士及何國賢先生；及獨立非執行董事為張昀女士、石曉光先生、金鵬先生及蘇德 揚先生。 ...

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，概不就因本公告全部或任何部分內容 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。 Goodbaby International Holdings Limited 好孩子國際控股有限公司 更改香港主要營業地點的地址 好孩子國際控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，由2025年3月3日 起，本公司於香港的主要營業地點的地址將更改為香港九龍新蒲崗太子道東698號寶光商 業中心15樓1501室。 承董事會命 好孩子國際控股有限公司 主席 宋鄭還 香港，2025年3月3日 於本公告發佈日期，執行董事為宋鄭還先生、劉同友先生和 Martin POS 先生；非執行董 事為富晶秋女士和何國賢先生；以及獨立非執行董事為張昀女士、石曉光先生、金鵬先 生和蘇德揚先生。 （股份代號：1086） （於開曼群島註冊成立之有限公司） ...

本公告乃由好孩子國際控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 香港法例第571章證券及期貨條例第XIVA部內幕消息條文（定義見香港聯合交易所有限公 司證券上市規則（「上市規則」））及上市規則第13.09條刊發。 本公司董事會（「董事會」）謹此知會本公司股東及有意投資者，根據對董事會目前可得資 料（包括本集團的未經審核管理賬目）的初步評估，預期本集團於截至2024年12月31日止 年度將錄得介乎約325.0百萬港元至約375.0百萬港元的純利，而2023年同期純利為約 208.5百萬港元。純利的增加主要是毛利額的增長、營運開支的增加（主要由於收益增長 而導致銷售開支增加）以及出售物業、廠房及設備及使用權資產收益減少等因素帶來的綜 合結果。其中，毛利額的增長主要是收益的增長及有利的品牌收益組合和生產成本的改 善帶來的毛利率改善的綜合結果；而2024年下半年海運成本的上漲及不利的匯率波動部 分抵銷了上述效果。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Goodbaby International Holdings Limited 好孩子國際控股有限公司 （股份代號：1086） （於開曼群島註冊成立之有限公司） 於附屬公司層面的 關連交易 於附屬公司層面的關連交易 於有關期間（即截至2023年12月31日止兩個財政年度），CTP Japan（本公司當時的非 全資附屬公司）及Dadway（CTP Japan當時的主要股東）訂立該等交易，包括買賣 CYBEX產品、提供倉儲及物流服務及支付產品責任保險費。由於CTP Japan於有關期 間並不屬於上市規則第14A.09條項下非重大附屬公司的範疇，故根據上市規則第十四 A章，該等交易構成本公司於附屬公司層面的關連交易。 上市規則涵義 自成立以來，CTP Japan一直被分類為本公司的非重大附屬公司，因此，Dadway(即 CTP Japan的主要股東)並不構成本公司的關連人士，而該等交易於有關期間之前亦不 屬於 ...

香港交易及結算所有限公司及香港聯合交易所對本文件通告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就本通告全部或部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 | | | 截至9月30日止九個月 | | | | | | --- | --- | --- | --- | --- | --- | --- | | | 2024年 | | 2023年 | | | 恒定貨幣口徑 | | （百萬港幣） | （未經審計） | | （未經審計） | | 同比變化(%) | 同比變化(%) | | 總收入 | $6,492.5 | | $5,806.2 | | +11.8% | +11.2% | | | | | | | | 恒定貨幣口徑 | | | 數額 佔總收入比 | | 數額 | 佔總收入比 | 同比變化(%) | 同比變化(%) | | 戰略品牌 | 5,784.6 | 89.1% | 5,283.2 | 91.0% | +9.5% | +8.9% | | – CYBEX | 3,312.9 | 51.0% | 2,733.3 | 47.1% | +21.2% | +20.1% | | ...

Revenue and Profit Growth - Revenue increased by 7.7% YoY to HKD 4,187.6 million, with constant currency growth of 6.2%[6] - Net profit surged by 526.4% YoY to HKD 187.3 million[6] - Revenue for the six months ended June 30, 2024, increased to HKD 4,187,639 thousand, up 7.7% compared to HKD 3,889,199 thousand in the same period in 2023[57] - Gross profit rose to HKD 2,201,548 thousand, a 23.4% increase from HKD 1,784,798 thousand in the prior year period[57] - Operating profit surged to HKD 279,384 thousand, up 148% from HKD 112,677 thousand in the same period last year[57] - Net profit attributable to owners of the parent company increased significantly to HKD 185,447 thousand, compared to HKD 25,012 thousand in the previous year[57] - Profit for the period was 185,447 thousand HKD in 2024, compared to 25,012 thousand HKD in 2023, a significant increase of 641.5%[63] - Total revenue for the six months ended June 30, 2024, was HK$4,187.6 million, compared to HK$3,889.2 million in the same period in 2023, representing an increase of 7.7%[73][74] Brand Performance - CYBEX brand revenue grew by 18.9% YoY to HKD 2,158.2 million, contributing 51.5% of total revenue[7] - Evenflo brand revenue increased by 3.0% YoY to HKD 1,133.8 million, accounting for 27.1% of total revenue[7] - gb brand revenue declined by 21.7% YoY to HKD 500.3 million, representing 12.0% of total revenue[7] - Blue-chip and other businesses revenue rose by 18.2% YoY to HKD 395.3 million[7] - CYBEX brand revenue increased by 18.9% (16.7% in constant currency terms) to approximately HKD 2,158.2 million, compared to HKD 1,814.8 million in the corresponding period of 2023[8] - CYBEX launched 6 new products (including new categories) during the period, all of which were well-received by the market[8] - CYBEX achieved a record-high operating profit margin due to strong revenue growth[8] - Evenflo brand revenue grew by 3.0% (0.7% in constant currency terms) to approximately HKD 1,133.8 million, compared to HKD 1,101.3 million in the corresponding period of 2023[9] - Evenflo's profitability significantly improved, driven by a high-margin core product portfolio achieving double-digit growth[9] - Evenflo launched the first modular child and pet travel system in the U.S. during the period[9] - GB brand revenue decreased by 21.7% (20.3% in constant currency terms) to approximately HKD 500.3 million, compared to HKD 638.6 million in the corresponding period of 2023[9] - Blue-chip and other businesses revenue increased by 18.2% (17.4% in constant currency terms) to approximately HKD 395.3 million, compared to HKD 334.5 million in the corresponding period of 2023[9] Financial Performance Metrics - Gross profit margin improved by 6.7 percentage points to 52.6%[5] - Operating profit margin increased by 3.8 percentage points to 6.7%[5] - Gross profit margin improved by 6.7 percentage points to 52.6% from 45.9% in the corresponding period of 2023[10] - Operating profit surged by 147.9% to HKD 279.4 million from HKD 112.7 million in the corresponding period of 2023[11] - Profit before tax increased by 782.2% to HKD 217.9 million from HKD 24.7 million in the corresponding period of 2023[12] - Net profit rose to HKD 187.3 million from HKD 29.9 million in the corresponding period of 2023[12] - Non-GAAP net profit increased by 325.7% to HKD 202.2 million from HKD 47.5 million in the corresponding period of 2023[12] - Net profit margin stood at 4.5% for the six months ended June 30, 2023[13] - Operating profit increased to 135.3 million HKD, with a profit margin of 2.9% to 3.5%[15] - Basic earnings per share for the period were HKD 0.11, up from HKD 0.01 in the same period in 2023[57] - Total comprehensive income for the period was HKD 60,877 thousand, a significant improvement from a loss of HKD 179,868 thousand in the prior year[58] - The company's equity increased from 5,627,733 thousand HKD in 2023 to 5,688,782 thousand HKD in 2024, a growth of 1.1%[60] - The company's reserves increased from 5,585,685 thousand HKD in 2023 to 5,645,493 thousand HKD in 2024, a growth of 1.1%[60] - The company's total comprehensive income for the period was 59,636 thousand HKD in 2024, compared to a comprehensive loss of 183,042 thousand HKD in 2023[63] - The company's cash flow from operating activities before tax was 217,880 thousand HKD in 2024, compared to 24,671 thousand HKD in 2023, a significant increase of 783.1%[65] - The company's cash flow from operating activities after tax was 236,020 thousand HKD in 2024, compared to 505,215 thousand HKD in 2023, a decrease of 53.3%[65] - The company's non-controlling interests increased from 25,368 thousand HKD in 2023 to 26,609 thousand HKD in 2024, a growth of 4.9%[60] Expenses and Costs - Sales and distribution expenses increased by HKD 177.2 million to HKD 1,205.2 million, primarily due to higher marketing and logistics costs[11] - Administrative expenses rose by HKD 22.8 million to HKD 727.0 million, driven by increased R&D and personnel costs[11] - Financial costs decreased by HKD 19.2 million to HKD 87.7 million due to reduced interest-bearing bank loans and borrowings[12] - R&D costs increased to 201,990 thousand HKD in 2024 from 195,501 thousand HKD in 2023, reflecting continued investment in innovation[83] - Employee costs increased to 953.8 million HKD, with 6,329 full-time employees as of June 30, 2024[24] - Total remuneration for key management personnel was 23,337 thousand HKD for the first half of 2024, compared to 22,508 thousand HKD in the same period of 2023[138] Cash Flow and Financing - The company successfully secured a new refinancing plan, improving its financing structure[5] - The company continued to generate robust operating cash flow and further reduced debt[5] - The company secured a $160 million refinancing agreement in April 2024, with the option to increase the total commitment by up to $50 million[39] - As of June 30, 2024, the company had $210 million in undrawn loan facilities available under the April 2024 financing agreement[40] - Cash flow from operating activities increased from 505,215 thousand HKD in 2023 to 543,989 thousand HKD in 2024, a growth of 7.7%[65] - Investment activities resulted in a net cash outflow of HKD 86.826 million, compared to HKD 131.752 million in the same period last year[66] - Financing activities resulted in a net cash outflow of HKD 298.729 million, compared to HKD 262.238 million in the same period last year[66] - Cash and cash equivalents decreased by HKD 149.535 million, compared to an increase of HKD 111.225 million in the same period last year[66] - The company's cash and cash equivalents at the end of the period were HKD 803.720 million, compared to HKD 1.026970 billion in the same period last year[66] Assets and Liabilities - Trade receivables and bills increased to 1,236.4 million HKD, with turnover days stable at 52 days[16][17] - Trade payables and bills increased to 1,322.3 million HKD, with turnover days rising to 119 days due to improved credit terms[16][18] - Inventory increased to 1,580.3 million HKD, with turnover days decreasing to 138 days due to improved working capital[16][18] - Monetary assets decreased to 1,441.5 million HKD, while interest-bearing bank loans decreased to 2,105.4 million HKD[19] - Net debt increased to 663.9 million HKD, with a leverage ratio of 33.9%[19][23] - Total non-current assets decreased slightly to HKD 5,774,359 thousand as of June 30, 2024, compared to HKD 5,922,026 thousand at the end of 2023[59] - Total current assets decreased to HKD 4,880,703 thousand as of June 30, 2024, from HKD 5,451,428 thousand at the end of 2023[59] - Total current liabilities decreased to HKD 4,566,676 thousand as of June 30, 2024, from HKD 5,184,232 thousand at the end of 2023[59] - Net current assets increased to HKD 314,027 thousand as of June 30, 2024, compared to HKD 267,196 thousand at the end of 2023[59] - Non-current liabilities decreased from 561,489 thousand HKD in 2023 to 399,604 thousand HKD in 2024, a reduction of 28.8%[60] - Net assets increased from 5,627,733 thousand HKD in 2023 to 5,688,782 thousand HKD in 2024, a growth of 1.1%[60] - Total property, plant, and equipment decreased from HK$888,935 thousand as of December 31, 2023, to HK$814,211 thousand as of June 30, 2024, primarily due to depreciation and exchange rate adjustments[88][89] - Additions to property, plant, and equipment during the first half of 2024 amounted to HK$71,355 thousand, with the largest additions in plant and machinery (HK$19,164 thousand) and leasehold improvements (HK$17,829 thousand)[88] - Depreciation charges for the first half of 2024 totaled HK$124,880 thousand, with the highest depreciation in plant and machinery (HK$53,921 thousand) and leasehold improvements (HK$34,231 thousand)[88] - The net book value of right-of-use assets decreased from HK$276,546 thousand as of December 31, 2023, to HK$228,364 thousand as of June 30, 2024, mainly due to depreciation and exchange rate adjustments[90][91] - Lease liabilities decreased from HK$255,645 thousand as of December 31, 2023, to HK$204,599 thousand as of June 30, 2024, with current liabilities at HK$88,061 thousand and non-current liabilities at HK$116,538 thousand[92] - Goodwill decreased from HK$2,608,675 thousand as of December 31, 2023, to HK$2,560,764 thousand as of June 30, 2024, primarily due to exchange rate adjustments[93] - Total intangible assets increased to HK$2,057,554,000 as of June 30, 2024, up from HK$2,045,025,000 at the end of 2023, driven by additions and acquisitions[94] - Inventory increased to HK$1,580,349,000 as of June 30, 2024, compared to HK$1,462,781,000 at the end of 2023, with finished goods accounting for the majority at HK$1,340,069,000[96] - Trade receivables and bills receivable totaled HK$1,236,396,000 as of June 30, 2024, up from HK$1,175,812,000 at the end of 2023, with 95.6% due within 3 months[97][98] - Trade payables and bills payable increased to HK$1,320,899,000 as of June 30, 2024, from HK$1,304,386,000 at the end of 2023, with 84.1% due within 3 months[100] - Total interest-bearing bank loans and borrowings decreased to HK$2,105,355,000 as of June 30, 2024, from HK$2,793,847,000 at the end of 2023, with 68.6% denominated in USD[101][102] - Total interest-bearing bank loans and borrowings decreased to 2,105,355 thousand HKD as of June 30, 2024, from 2,793,847 thousand HKD as of December 31, 2023[103] - Fixed-rate borrowings decreased to 386,756 thousand HKD as of June 30, 2024, from 550,110 thousand HKD as of December 31, 2023[103] - Floating-rate borrowings decreased to 1,718,599 thousand HKD as of June 30, 2024, from 2,243,737 thousand HKD as of December 31, 2023[103] - Bank overdraft facility amounted to 322,943 thousand HKD, with 212,807 thousand HKD utilized as of the reporting date[103] - The actual interest rates on bank loans and borrowings ranged from 1.20% to 7.56% as of June 30, 2024[104] - Derivative financial instruments designated as hedging instruments totaled 22,859 thousand HKD in assets and 16,565 thousand HKD in liabilities as of June 30, 2024[105] - Financial liabilities under amortized cost decreased to HKD 2,105,355 as of June 30, 2024, from HKD 2,793,847 at the end of 2023[125] - The fair value of financial assets, including derivative instruments, was HKD 55,109 as of June 30, 2024, down from HKD 64,914 at the end of 2023[127] - The fair value of derivative financial instruments as of June 30, 2024, was HKD 16,565 thousand, compared to HKD 42,013 thousand as of December 31, 2023[128] - The fair value of financial assets measured at fair value through profit or loss (wealth management products) was HKD 32,250 thousand as of June 30, 2024, compared to HKD 55,011 thousand as of December 31, 2023[131][132] - The total fair value of financial assets measured at fair value was HKD 55,109 thousand as of June 30, 2024, compared to HKD 64,914 thousand as of December 31, 2023[131][132] - The fair value of financial liabilities (derivative financial instruments) was HKD 16,565 thousand as of June 30, 2024, compared to HKD 42,013 thousand as of December 31, 2023[133] Share Options and Equity - Outstanding share options under the 2010 and 2020 share option plans totaled 112,110,000 as of June 30, 2024[25] - 1,390,000 share options granted to Mr. Song Zhenghuan on September 29, 2014, representing 0.083% of the total issued share capital[26] - 2,400,000 share options granted to Mr. Song Zhenghuan on September 29, 2014, representing 0.144% of the total issued share capital[26] - 6,300,000 share options granted to Mr. Song Zhenghuan on May 23, 2019, representing 0.378% of the total issued share capital[26] - 17,500,000 share options granted to Mr. Song Zhenghuan on March 27, 2018, representing 1.049% of the total issued share capital[26] - 10,000,000 share options granted to Mr. Song Zhenghuan on March 27, 2018, with 0% of the total issued share capital[26] - 1,600,000 share options granted to Mr. Song Zhenghuan on September 29, 2014, representing 0.096% of the total issued share capital[26] - 390,600 share options granted to Mr. Song Zhenghuan on May 23, 2022, representing 0.023% of the total issued share capital[26] - 585,900 share options granted to Mr. Song Zhenghuan on May 23, 2023, representing 0.035% of the total issued share capital[26] - 976,500 share options granted to Mr. Song Zhenghuan on May 23, 2024, representing 0.059% of the total issued share capital[26] - 1,550,000 share options granted to Mr. Song Zhenghuan on May 23, 2024, representing 0.093% of the total issued share capital[26] - 1,390,000 shares granted on September 29, 2014, remain unexercised, representing 0.083% of the total issued share capital[27] - 600,000 shares granted on May 23, 2019, remain unexercised, representing 0.036% of the total issued share capital[27]