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飞达控股(01100.HK)8月26日举行董事会会议批准中期业绩
Ge Long Hui· 2025-08-14 09:03
Core Viewpoint - Feda Holdings (01100.HK) announced a board meeting scheduled for August 26, 2025, to approve the interim results for the six months ending June 30, 2025, and to consider the payment of an interim dividend if applicable [1] Group 1 - The board meeting will focus on the approval of the company's interim performance [1] - The meeting will also address the potential declaration of an interim dividend [1]
飞达控股(01100) - 董事会召开日期
2025-08-14 08:41
(於百慕達註冊成立之有限公司) (股份代號:1100) 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司公佈之內容概不 負責,對其準確性或完整性亦不發表任何聲明,並明確表示,概不對因本公司公 佈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。 MAINLAND HEADWEAR HOLDINGS LIMITED 飛達帽業控股有限公司 * 顏禧強 主席 香港,二零二五年八月十四日 於本公佈日期,本公司董事會總共有九名董事。當中有六名為執行董事,分別為 顏禧強先生、顏寶鈴女士, 銅紫荊星章,太平紳士 、James S. Patterson先生、顏肇翰 先生、黎文星先生及顏肇臻先生;及三名獨立非執行董事,分別為吳君棟先生、 莊棣盛先生及李引泉先生。 * 僅供識別 董事會召開日期 飛達帽業控股有限公司(「本公司」)董事會(「董事會」)公佈將於二零二五年八月 二十六日(星期二)舉行董事會會議,以(其中包括)批准本公司及其附屬公司截至 二零二五年六月三十日止六個月之中期業績及其發佈,以及考慮派付中期股息(如 適用)。 承董事會命 ...
飞达控股(01100) - 截至二零二五年七月三十一日止之股份发行人的证券变动月报表
2025-08-01 08:16
股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致:香港交易及結算所有限公司 公司名稱: 飛達帽業控股有限公司 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01100 | 說明 | | | | | | | | | 已發行股份(不包括庫存股份)數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 429,164,448 | | 0 | | 429,164,448 | | 增加 / 減少 (-) | | | | | | | | | 本月底結存 | | | 429,164,448 | | 0 | | 429,164,448 | 第 2 頁 共 10 頁 v 1.1.1 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上 ...
飞达控股发盈喜 预计中期股东应占溢利同比增加至不少于5800万港元
Zhi Tong Cai Jing· 2025-07-31 11:09
Core Viewpoint - The company anticipates a significant increase in net profit for the six months ending June 30, 2025, with an expected profit of no less than HKD 58 million, representing a growth from approximately HKD 35.27 million reported for the same period in 2024 [1] Group 1: Financial Performance - The expected net profit growth is primarily attributed to the increase in revenue and profit from the manufacturing segment, particularly in Bangladesh [1] - The growth factors include: - A shift of more orders from countries affected by high U.S. tariffs to Bangladesh [1] - Improvements in production efficiency [1] - Enhanced cost control measures [1] Group 2: Business Segment Performance - Despite the positive outlook for the manufacturing segment, the anticipated growth in the 2025 interim results will be partially offset by underperformance in the trading segment [1]
飞达控股(01100)发盈喜 预计中期股东应占溢利同比增加至不少于5800万港元
智通财经网· 2025-07-31 11:05
Core Viewpoint - The company, Feida Holdings (01100), anticipates a significant increase in its unaudited interim profit attributable to shareholders for the six months ending June 30, 2025, projecting at least HKD 58 million, compared to approximately HKD 35.3 million for the interim report ending June 30, 2024 [1] Group 1: Financial Performance - The projected net profit growth is primarily attributed to the increase in revenue and profit from the manufacturing segment, particularly in Bangladesh [1] - Contributing factors to this growth include: - A shift of more orders from countries affected by high tariffs imposed by the United States to Bangladesh [1] - Improvements in production efficiency [1] - Enhanced cost control measures [1] Group 2: Business Segment Performance - Despite the positive outlook for the manufacturing segment, the anticipated growth in the interim results for 2025 will be partially offset by underperformance in the trading segment [1]
飞达控股(01100.HK)预期中期溢利将不少于5800万港元
Xin Lang Cai Jing· 2025-07-31 10:49
Core Viewpoint - The company anticipates a significant increase in net profit for the six months ending June 30, 2025, with expected profit not less than HKD 58 million, compared to approximately HKD 35.27 million for the interim report of 2024 [1] Group 1: Financial Performance - The expected net profit growth is primarily attributed to the increase in revenue and profit from the manufacturing segment, particularly in Bangladesh [1] - Contributing factors to the manufacturing segment's performance include: - A shift of more orders from countries affected by high U.S. tariffs to Bangladesh [1] - Improvements in production efficiency [1] - Enhanced cost control measures [1] Group 2: Trade Business Impact - Despite the positive outlook for the manufacturing segment, the anticipated growth in the 2025 interim results will be partially offset by underperformance in the group's trading business segment [1]
飞达控股(01100) - 正面盈利预告
2025-07-31 10:36
飛達帽業控股有限公司(「本公司」,連同其附屬公司統稱「本集團」)根據香港聯合 交易所有限公司證券上市規則(「上市規則」)第13.09(2)(a)條及香港法例第571章證 券及期貨條例第XIVA部內幕消息條文(定義見上市規則)刊發本公佈。 本公司董事會(「董事會」)謹此知會本公司股東及潛在投資者,根據對本集團最近 期未經審核綜合管理賬目及董事會目前可獲得之資料所作之初步評估,預期本集 團截至二零二五年六月三十日止六個月之未經審核中期業績(「二零二五年未經審 核中期業績」)之本公司擁有人應佔綜合溢利將不少於58,000,000港元,較二零 二四年中期報告所錄得截至二零二四年六月三十日止六個月之本公司擁有人應佔 溢利約35,269,000港元有所增長。該淨利潤增長主要歸因於本集團製造業務分部(特 別是孟加拉製造業務)之營業額及利潤增加,原因包括:(i)更多訂單從受美國高 關稅影響國家轉移至孟加拉;(ii)生產效率提升;及(iii)成本控制改善。儘管如此, 二零二五年未經審核中期業績之增長預期將被本集團貿易業務分部表現未如預期 所部分抵銷。 1 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, ...
飞达控股(01100) - 2024 - 年度财报
2025-04-16 11:09
Financial Performance - The group's total revenue for the year was HKD 1,474,488,000, an increase of 3.9% from HKD 1,418,994,000 in 2023[11] - Gross profit decreased by 4.4% to HKD 455,482,000, with a gross margin decline of 2.7 percentage points to 30.9%[11] - Shareholders' profit attributable to the company was HKD 57,074,000, down 51.6% from HKD 117,949,000 in 2023[11] - Manufacturing business revenue increased by 13.4% to HKD 931,812,000, accounting for 63.2% of total revenue[12] - Trade business revenue decreased by 9.1% to HKD 542,676,000, representing 36.8% of total revenue[14] - The group recorded an operating loss of HKD 95,443,000 in the trade division, compared to an operating loss of HKD 56,563,000 in 2023[14] Investments and Acquisitions - The group acquired 55% of a Dutch brand patent franchise product development company to enhance market presence in Europe and other overseas markets[10] - The group has acquired 55% equity in Difuzed B.V. for EUR 5 million (approximately HKD 43.1 million), which will become a subsidiary post-acquisition completion on August 23, 2024[25][26] - The acquisition of the Dutch company is expected to expand market coverage to the Middle East and Africa, despite anticipated losses in 2025, with a focus on integrating resources to enhance sales and profits in the long term[16] Production Capacity and Operations - The Bangladesh factory has a monthly production capacity of 6.5 million hats and has started producing wallets, belts, and bags[12] - The Mexican factory is expected to reach a monthly capacity of 1 million hats by the end of 2025[12] - A new production line in Cambodia is planned to begin operations in the second half of 2025, with an estimated monthly capacity of 450,000 units, aimed at capturing orders shifting from China due to supply chain adjustments[15] - The Mexican factory is expected to significantly enhance operational efficiency by 2025, with plans to start producing high-end styles from Q2 2025 after successful employee training and process optimization[15] - The company operates three production bases located in Bangladesh, Mexico, and Shenzhen, China, with a total production capacity of 7,300,000 units per month[162] Financial Position and Cash Flow - Cash and undrawn bank financing totaled approximately HKD 191,793,000 and HKD 720,625,000, respectively, as of December 31, 2024[11] - As of December 31, 2024, the group's cash and cash equivalents totaled HKD 196 million, a decrease from HKD 331 million in 2023, with a bank credit facility of HKD 905.4 million available[21] - The group's debt-to-equity ratio increased to 16.9% in 2024 from 13.8% in 2023, indicating a stronger financial position to meet operational needs[21] Corporate Governance - The company adheres to the corporate governance code as per the Hong Kong Stock Exchange listing rules[47] - The board consists of 6 executive directors and 3 independent non-executive directors, meeting the requirements of the listing rules[54] - The board has adopted a code of conduct for securities trading, ensuring compliance by all directors and employees with access to inside information[67] - The company has established a mechanism to ensure that independent opinions from individual directors are communicated to the board[68] - The company has a structured process for the appointment and re-election of directors, ensuring transparency and careful consideration[60] Risk Management and Internal Controls - The board is responsible for the overall risk management and internal control systems, with regular reviews to ensure effectiveness[85] - The risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance against significant misstatements or losses[84] - The internal audit team assists the board and audit committee in monitoring the effectiveness of internal controls, with no significant deficiencies noted in the 2024 audit[89] - The audit committee has reviewed compliance with legal and regulatory standards, ensuring adherence to disclosure requirements and internal practices[89] Shareholder Communication and Dividends - The company has established effective communication channels with shareholders, including annual general meetings and online updates[100] - The interim dividend of HKD 0.03 per share, totaling HKD 12,877,000, was paid on October 10, 2024[109] - The proposed final dividend is HKD 0.05 per share, down from HKD 0.06 per share in 2023, subject to shareholder approval at the upcoming annual general meeting[109] Environmental Sustainability - The company is committed to environmental sustainability, adhering to all relevant laws and regulations regarding emissions and waste management during the reporting period[163] - The company has established an environmental management system across all its production sites to minimize waste and emissions[166] - The company aims to reduce energy consumption and greenhouse gas emissions through various strategies, including reusing boiler condensate and improving energy efficiency[171] - The company has implemented measures to reduce harmful emissions and waste throughout its value chain[166] - The company has achieved Global Recycle Standard (GRS Scope Certification) for its Bangladesh factory, indicating a commitment to sustainable materials[185] Employee and Workforce Management - Employee expenses for the year amounted to approximately HKD 398 million, an increase from HKD 342.8 million in 2023, with a total workforce of 8,200 employees across various regions[28] - The total number of full-time employees as of December 31, 2024, is 8,179, with an additional 21 part-time employees[191] - The employee gender distribution shows a significant presence of male employees in China and Bangladesh, with a total of 3,369 male and 4,048 female employees[195] Community Engagement and Corporate Social Responsibility - The group made charitable and other donations totaling HKD 2,265,000 during the year, down from HKD 3,754,000 in 2023[118] - The company is focused on community engagement to achieve sustainable development and operations[190]
飞达控股(01100) - 2024 - 年度业绩
2025-03-26 14:52
Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 1,474,488,000, an increase of 3.9% from HKD 1,418,994,000 in 2023[3] - The gross profit for the year was HKD 455,482,000, down 4.4% from HKD 476,364,000 in the previous year[3] - The operating profit decreased significantly to HKD 113,004,000, a decline of 40.7% compared to HKD 190,204,000 in 2023[3] - The net profit attributable to shareholders was HKD 57,074,000, down 51.6% from HKD 117,949,000 in the prior year[5] - Basic earnings per share decreased to HKD 13.2989 from HKD 27.5473, reflecting a decline of 51.7%[5] - The group’s operating profit for 2024 was HKD 95,133,000, down 26.9% from HKD 130,323,000 in 2023[17] - Shareholders' profit for the year was HKD 57,074,000, a significant decline of 51.6% compared to HKD 117,949,000 in 2023[46] Revenue Breakdown - Total revenue from external customers for the year 2024 reached HKD 1,474,488,000, an increase of 3.9% compared to HKD 1,418,994,000 in 2023[22] - The manufacturing segment generated revenue of HKD 931,812,000 in 2024, up from HKD 821,760,000 in 2023, reflecting a growth of 13.4%[17] - The trading segment reported revenue of HKD 542,676,000 in 2024, a decrease of 9.2% from HKD 597,234,000 in 2023[17] - Manufacturing revenue increased by 13.4% to HKD 931,812,000 from HKD 821,760,000 in 2023, accounting for 63.2% of total revenue[48] - Trade business revenue decreased by 9.1% year-on-year to HKD 542,676,000, accounting for 36.8% of total group revenue[50] Assets and Liabilities - Total assets increased to HKD 1,944,866,000, up from HKD 1,786,603,000, representing a growth of 8.8%[7] - Total liabilities rose to HKD 765,577,000 in 2024, up from HKD 625,420,000 in 2023, indicating a 22.4% increase[18] - Non-current assets increased to HKD 940,361,000 in 2024 from HKD 725,022,000 in 2023, representing a growth of 29.6%[23] - Trade receivables rose to HKD 400,015,000 in 2024, up from HKD 339,151,000 in 2023, indicating an increase of 17.9%[34] Cash Flow and Expenditures - The company reported a decrease in cash and cash equivalents to HKD 179,638,000 from HKD 317,849,000, a decline of 43.5%[7] - Capital expenditures for the year amounted to HKD 210,805,000, compared to HKD 153,639,000 in 2023, reflecting a significant increase of 37.2%[20] - The group’s cash and undrawn bank financing totaled approximately HKD 191,793,000 and HKD 750,600,000, respectively, as of December 31, 2024[46] - The group plans a capital expenditure budget of HKD 152.6 million for 2025, primarily for expanding operations in Mexico and Cambodia[56] Dividends and Shareholder Returns - The proposed final dividend per share decreased to HKD 0.05 in 2024 from HKD 0.06 in 2023, reflecting a reduction of 16.7%[32] - The board proposed a final dividend of HKD 0.05 per share, down from HKD 0.06 per share in the previous year[61] Corporate Governance - The board confirmed compliance with the corporate governance code for the fiscal year ending December 31, 2024[64] - All directors confirmed adherence to the standard code of conduct for securities transactions for the fiscal year ending December 31, 2024[65] - The audit committee reviewed the consolidated financial statements for the fiscal year ending December 31, 2024[66] - The auditor confirmed that the preliminary announcement figures align with the draft consolidated financial statements for the fiscal year ending December 31, 2024[67] Future Outlook and Strategies - The company plans to continue exploring new product development and market expansion strategies to enhance future performance[2] - The group expects the new Hong Kong Financial Reporting Standards to have minimal impact on its operational performance and financial position[14] - The group plans to expand production in Cambodia, with a monthly capacity of approximately 450,000 units starting in the second half of 2025[52] - The group’s Mexican factory is expected to reach a production capacity of 1,000,000 hats per month by the end of 2025[47] Acquisitions and Investments - The group completed the acquisition of 55% equity in Difuzed B.V. for EUR 5,000,000 (approximately HKD 43,124,000) on August 23, 2024[42] - Difuzed contributed revenue of HKD 63,594,000 since the acquisition, with a net loss of HKD 14,414,000 during the same period[44]
飞达控股(01100) - 2024 - 中期财报
2024-09-12 09:01
[Management Discussion and Analysis](index=3&type=section&id=Management%20Discussion%20and%20Analysis) This section reviews the company's financial performance, business operations, and future outlook [Financial Review](index=3&type=section&id=Financial%20Review) The Group saw significant declines in revenue and profit in H1 2024, but maintained its interim dividend and robust financial position Key Financial Indicators for H1 2024 | Indicator | For the six months ended June 30, 2024 | For the six months ended June 30, 2023 | Year-on-year Change | | :--- | :--- | :--- | :--- | | Revenue | HKD 687,114,000 | HKD 780,258,000 | -11.9% | | Gross Profit | HKD 219,510,000 | HKD 273,930,000 | -19.9% | | Gross Profit Margin | 31.9% | 35.1% | -3.2pp | | Profit Attributable to Owners | HKD 35,269,000 | HKD 65,075,000 | -45.8% | | Interim Dividend | 3 HK cents per share | 3 HK cents per share | Unchanged | - The Group's financial position is robust, with cash on hand of approximately **HKD 189 million** and unutilized banking facilities of approximately **HKD 804 million** as of June 30, 2024[3](index=3&type=chunk) [Business Review](index=3&type=section&id=Business%20Review) Both manufacturing and trading businesses faced sales pressure from weak demand and destocking, leading to declining manufacturing profit and an operating loss in trading [Manufacturing Business](index=3&type=section&id=Manufacturing%20Business) Manufacturing revenue declined 5.0% due to weak market demand and destocking, with varied factory performance and a 27.8% drop in segment operating profit Manufacturing Business Performance | Indicator | For the six months ended June 30, 2024 | For the six months ended June 30, 2023 | Year-on-year Change | | :--- | :--- | :--- | :--- | | Revenue | HKD 445,769,000 | HKD 469,233,000 | -5.0% | | Segment Operating Profit | HKD 93,178,000 | HKD 129,083,000 | -27.8% | - Factory performance varied, with Bangladesh improving costs despite lower sales, Shenzhen facing higher costs from reduced orders, and the new Mexico plant incurring initial operating losses[6](index=6&type=chunk) [Trading Business](index=4&type=section&id=Trading%20Business) Trading revenue fell 22.4% due to a weak retail market, with high distribution costs widening operating losses despite improved gross margin, prompting strategic acquisitions for market expansion Trading Business Performance | Indicator | For the six months ended June 30, 2024 | For the six months ended June 30, 2023 | Year-on-year Change | | :--- | :--- | :--- | :--- | | Revenue | HKD 241,345,000 | HKD 311,025,000 | -22.4% | | Operating Loss | (HKD 37,739,000) | (HKD 28,039,000) | Loss widened | - To expand market coverage, the Group acquired property in Missouri, USA, for a warehouse and a **55% equity interest** in a Dutch design company to penetrate European and other overseas markets[7](index=7&type=chunk) [Outlook](index=5&type=section&id=Outlook) Despite macroeconomic uncertainties, the Group is cautiously optimistic, focusing on enhancing factory efficiency, diversifying production, expanding market reach through acquisitions, and optimizing logistics with a new US warehouse - Production strategy: Focus on improving processes and stability at the Mexico factory, enhancing employee training; the Bangladesh factory will improve the synergistic benefits of newly added production lines for wallets, belts, and other accessories[10](index=10&type=chunk) - Trading strategy: Utilize the newly acquired Dutch design company to expand market coverage from Europe and America to the Middle East and Africa, and secure more brand licenses[10](index=10&type=chunk) - Infrastructure support: The Missouri, USA warehouse, expected to be operational in **Q4 2024**, will help save rental expenses and improve operational efficiency[10](index=10&type=chunk) [Liquidity and Financial Resources](index=6&type=section&id=Liquidity%20and%20Financial%20Resources) The Group maintains a robust financial position with ample cash, unutilized banking facilities, and a low gearing ratio at period-end Liquidity Position (as of June 30, 2024) | Indicator | Amount | December 31, 2023 | | :--- | :--- | :--- | | Total Cash and Bank Balances | HKD 205.2 million | HKD 331.0 million | | Unutilized Banking Facilities | HKD 803.7 million | HKD 733.7 million | | Gearing Ratio (Borrowings to Total Equity) | 13.4% | 13.8% | [Other Operating and Financial Information](index=6&type=section&id=Other%20Operating%20and%20Financial%20Information) The Group incurred significant capital expenditures for US property and capacity upgrades, and completed the acquisition of Difuzed B.V. to expand market reach and product portfolio [Capital Expenditure](index=6&type=section&id=Capital%20Expenditure) Major capital expenditures included **HKD 102.4 million** for US property and **HKD 24.2 million** for equipment upgrades, with future commitments for factory expansions and warehouse renovation - Capital expenditures during the period primarily included: - Investment of approximately **HKD 102.4 million** for property acquisition in Missouri, USA, for office and warehouse purposes - Investment of **HKD 24.2 million** for additions of plant and machinery to upgrade and expand production capacity[15](index=15&type=chunk) [Acquisition of a Subsidiary](index=7&type=section&id=Acquisition%20of%20a%20Subsidiary) In August 2024, the Group acquired a **55% stake** in Difuzed B.V. for **EUR 5 million** to expand market reach to the EU, Middle East, and Africa, and diversify product lines - On August 23, 2024, the Group acquired a **55% equity interest** in Dutch company Difuzed B.V. for a total consideration of **EUR 5 million** (approximately **HKD 42.5 million**), aiming to expand geographical market coverage and diversify its product lines[17](index=17&type=chunk) [Foreign Exchange Risk](index=7&type=section&id=Foreign%20Exchange%20Risk) The Group faces Bangladeshi Taka exchange rate risk, with a **1% Taka fluctuation** estimated to impact manufacturing gross profit margin by approximately **0.28%** - The Group estimates that a **1% appreciation or depreciation** of the Bangladeshi Taka would result in a decrease or increase of approximately **0.28%** in the manufacturing business's gross profit margin[18](index=18&type=chunk) [Employees and Remuneration Policy](index=7&type=section&id=Employees%20and%20Remuneration%20Policy) As of period-end, the Group employed approximately **8,104 staff** across five regions, with total employee expenses amounting to approximately **HKD 192.3 million** Employee Distribution and Expenses (as of June 30, 2024) | Region | Number of Employees | | :--- | :--- | | China (including Hong Kong) | 335 | | Bangladesh | 7,222 | | Mexico | 389 | | USA and UK | 158 | | **Total** | **8,104** | | **Employee Expenses for the Period** | **HKD 192.3 million** | [Interim Dividend and Closure of Register of Members](index=8&type=section&id=Interim%20Dividend%20and%20Closure%20of%20Register%20of%20Members) This section details the interim dividend declaration and related administrative procedures [Interim Dividend](index=8&type=section&id=Interim%20Dividend) The Board declared an interim dividend of **3 HK cents per share** for H1 2024, consistent with the previous year - The Board declared an interim dividend of **3 HK cents per share**, consistent with the same period in 2023, payable on or after October 10, 2024[20](index=20&type=chunk) [Interim Condensed Consolidated Financial Statements](index=9&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) This section presents the unaudited interim condensed consolidated financial statements, including the statement of profit or loss, financial position, and cash flows [Interim Condensed Consolidated Statement of Profit or Loss](index=9&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) For H1 2024, Group revenue declined **11.9%** to **HKD 687.1 million**, with profit attributable to owners falling **45.8%** to **HKD 35.27 million** Summary of Consolidated Statement of Profit or Loss (for the six months ended June 30) | Indicator (HKD thousands) | 2024 (Unaudited) | 2023 (Unaudited) | | :--- | :--- | :--- | | Revenue | 687,114 | 780,258 | | Gross Profit | 219,510 | 273,930 | | Operating Profit | 65,048 | 100,000 | | Profit for the Period | 39,979 | 71,603 | | Profit Attributable to Owners of the Company | 35,269 | 65,075 | | Basic Earnings Per Share (HK cents) | 8.218 | 15.230 | [Interim Condensed Consolidated Statement of Financial Position](index=11&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2024, the Group reported total assets of **HKD 1,775.75 million** and total equity of **HKD 1,173.51 million**, reflecting a stable financial position Summary of Consolidated Statement of Financial Position | Indicator (HKD thousands) | June 30, 2024 (Unaudited) | December 31, 2023 (Audited) | | :--- | :--- | :--- | | Total Assets | 1,775,751 | 1,786,603 | | Total Liabilities | 602,245 | 625,420 | | Total Equity | 1,173,506 | 1,161,183 | [Interim Condensed Consolidated Statement of Cash Flows](index=15&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) Net cash from operating activities decreased to **HKD 31.77 million** due to lower profit, while investing activities saw a **HKD 123.07 million** outflow for US property, and financing activities resulted in a net outflow Summary of Consolidated Statement of Cash Flows (for the six months ended June 30) | Indicator (HKD thousands) | 2024 (Unaudited) | 2023 (Unaudited) | | :--- | :--- | :--- | | Net Cash from Operating Activities | 31,765 | 146,272 | | Net Cash Used in Investing Activities | (123,068) | (9,709) | | Net Cash Used in Financing Activities | (36,399) | (58,630) | | Net Decrease in Cash and Cash Equivalents | (127,702) | 77,933 | [Summary of Notes to Unaudited Interim Condensed Consolidated Financial Information](index=16&type=section&id=Summary%20of%20Notes%20to%20Unaudited%20Interim%20Condensed%20Consolidated%20Financial%20Information) This section provides key explanatory notes to the interim condensed consolidated financial information, detailing segment performance, earnings per share, borrowings, and post-reporting period events [Note 7: Segment Information](index=21&type=section&id=Note%207:%20Segment%20Information) Manufacturing contributed **64.9%** of total revenue with a **20.9%** operating profit margin, while trading accounted for **35.1%** of revenue and incurred an operating loss Segment Results (for the six months ended June 30, 2024) | Business Segment | Revenue (HKD thousands) | % of Total Revenue | Operating Profit/(Loss) (HKD thousands) | | :--- | :--- | :--- | :--- | | Manufacturing Business | 445,769 | 64.9% | 93,178 | | Trading Business | 241,345 | 35.1% | (37,739) | [Note 10: Earnings Per Share](index=26&type=section&id=Note%2010:%20Earnings%20Per%20Share) Basic earnings per share significantly decreased to **8.218 HK cents** from **15.230 HK cents** last year, with diluted earnings per share at **8.141 HK cents** Earnings Per Share (for the six months ended June 30) | Indicator (HK cents) | 2024 | 2023 | | :--- | :--- | :--- | | Basic Earnings Per Share | 8.218 | 15.230 | | Diluted Earnings Per Share | 8.141 | 14.900 | [Note 17: Borrowings](index=37&type=section&id=Note%2017:%20Borrowings) At period-end, total borrowings were **HKD 158 million**, mostly current, with some from an affiliate of a company shareholder Borrowings Structure (as of June 30, 2024) | Category (HKD thousands) | Amount | | :--- | :--- | | Current Borrowings | 150,459 | | Non-current Borrowings | 7,197 | | **Total Borrowings** | **157,656** | [Note 20: Events After the Reporting Period](index=40&type=section&id=Note%2020:%20Events%20After%20the%20Reporting%20Period) On August 23, 2024, the Group completed the acquisition of a **55% stake** in Dutch company Difuzed B.V. for **EUR 5 million** - On August 23, 2024, the Group acquired a **55% equity interest** in Dutch company Difuzed B.V. for a total consideration of **EUR 5 million** (approximately **HKD 42.5 million**)[86](index=86&type=chunk) [Other Information Required by Listing Rules](index=41&type=section&id=Other%20Information%20Required%20by%20Listing%20Rules) This section provides additional information as required by the Listing Rules, including details on directors' and major shareholders' interests, share option schemes, and corporate governance [Directors' and Substantial Shareholders' Interests](index=41&type=section&id=Directors'%20and%20Substantial%20Shareholders'%20Interests) The report details directors' and substantial shareholders' interests, with Mr. Yan Hei Cheung and Ms. Ngan Po Ling collectively holding **65.23%**, and Mr. Christopher Koch and NEHK holding **19.48%** - As of June 30, 2024, Mr. Yan Hei Cheung and Ms. Ngan Po Ling, Pauline were deemed to be jointly interested in **65.23%** of the Company's interests[89](index=89&type=chunk) - Substantial shareholder Mr. Christopher Koch and NEHK, controlled by him, held **19.48%** of the Company's interests[100](index=100&type=chunk)[101](index=101&type=chunk) [Share Option Scheme](index=42&type=section&id=Share%20Option%20Scheme) A new share option scheme was adopted in May 2024, with **28,345,000 options** unexercised under the previous scheme and no new grants during the period - As of June 30, 2024, **28,345,000 share options** remained unexercised under the previous share option scheme[92](index=92&type=chunk)[96](index=96&type=chunk) - The Company adopted a new share option scheme on May 24, 2024, with the total number of shares that may be issued not exceeding **10%** of the then-issued shares[92](index=92&type=chunk) [Corporate Governance](index=47&type=section&id=Corporate%20Governance) The Board confirms compliance with the Corporate Governance Code during the period, and the Audit Committee has reviewed the interim financial information - The Board is of the view that the Company has complied with the code provisions of the Corporate Governance Code for the six months ended June 30, 2024[106](index=106&type=chunk) - The Audit Committee has reviewed the interim condensed consolidated financial information for the period ended June 30, 2024[108](index=108&type=chunk)