第 1 頁 共 2 頁 v 1.1.1 EF001 EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 飛達帽業控股有限公司 | | 股份代號 | 01100 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至二零二五年六月三十日止六個月中期股息 | | 公告日期 | 2025年8月26日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年6月30日 | | 宣派股息 | 每 股 0.03 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.03 HK ...

Interim Performance Summary [Interim Condensed Consolidated Statement of Profit or Loss](index=1&type=section&id=1.1%20Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) For the six months ended June 30, 2025, the company reported significant growth in revenue and profit, with revenue up 23.1% to HK$845.6 million and profit attributable to owners up 69.9% to HK$59.9 million Key Data from Interim Condensed Consolidated Statement of Profit or Loss | Metric | June 30, 2025 (HK$ '000) | June 30, 2024 (HK$ '000) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 845,629 | 687,114 | +23.1% | | Cost of sales | (590,525) | (467,604) | +26.3% | | Gross profit | 255,104 | 219,510 | +16.2% | | Operating profit | 84,729 | 65,048 | +30.3% | | Profit for the period | 57,579 | 39,979 | +44.0% | | Profit attributable to owners of the Company | 59,918 | 35,269 | +69.9% | | Basic earnings per share (HK cents) | 13.962 | 8.218 | +69.9% | | Diluted earnings per share (HK cents) | 13.856 | 8.141 | +70.2% | [Interim Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=1.2%20Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group's total comprehensive income for the period significantly increased to HK$65.49 million, primarily due to higher profit for the period and a positive shift in foreign exchange differences from translating overseas operations' financial statements Key Data from Interim Condensed Consolidated Statement of Comprehensive Income | Metric | June 30, 2025 (HK$ '000) | June 30, 2024 (HK$ '000) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Profit for the period | 57,579 | 39,979 | +44.0% | | Exchange differences on translation of financial statements of overseas operations | 7,911 | (1,906) | N/A (from negative to positive) | | Total comprehensive income for the period, net of tax | 65,490 | 38,073 | +72.0% | | Total comprehensive income attributable to owners of the Company | 68,401 | 33,363 | +105.0% | | Total comprehensive income attributable to non-controlling interests | (2,911) | 4,710 | N/A (from positive to negative) | [Interim Condensed Consolidated Statement of Financial Position](index=4&type=section&id=1.3%20Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets increased to HK$1.962 billion, total equity to HK$1.223 billion, and net current assets significantly improved to HK$395.4 million, indicating a robust financial position Key Data from Interim Condensed Consolidated Statement of Financial Position | Metric | June 30, 2025 (HK$ '000) | December 31, 2024 (HK$ '000) | Change (%) | | :--- | :--- | :--- | :--- | | Total assets | 1,961,637 | 1,944,866 | +0.9% | | Non-current assets | 929,707 | 940,361 | -1.1% | | Current assets | 1,031,930 | 1,004,505 | +2.7% | | Total equity | 1,223,321 | 1,179,289 | +3.7% | | Total liabilities | 738,316 | 765,577 | -3.6% | | Net current assets | 395,421 | 342,780 | +15.3% | | Cash and cash equivalents | 229,069 | 179,638 | +27.5% | Notes to Financial Statements [Basis of Preparation and Accounting Policies](index=6&type=section&id=2.1%20Basis%20of%20Preparation%20and%20Accounting%20Policies) This interim condensed consolidated financial information is prepared under HKAS 34, presented in HKD, and reflects the adoption of new standards without significant policy changes - This interim condensed consolidated financial information is prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting", presented in Hong Kong Dollars, and is unaudited[9](index=9&type=chunk)[10](index=10&type=chunk) - The Group has adopted new and revised standards, which did not result in changes to accounting policies or retrospective adjustments[11](index=11&type=chunk)[13](index=13&type=chunk) - Hong Kong Financial Reporting Standard 18, effective for periods beginning on or after January 1, 2027, is expected to impact the presentation of the statement of profit or loss and disclosure of financial performance, but is not currently expected to have a material impact on operating results and financial position[14](index=14&type=chunk)[15](index=15&type=chunk) [Segment Information](index=7&type=section&id=2.2%20Segment%20Information) The Group's operating segments are primarily manufacturing and trading, with manufacturing focused on headwear production in Bangladesh and Mexico, and trading involving distribution in the US and Europe - Executive Directors determine operating segments based on reports used for strategic decisions and assess performance by reportable segment profit/(loss)[16](index=16&type=chunk)[17](index=17&type=chunk) - The manufacturing business primarily produces headwear, with facilities in Bangladesh and Mexico, serving customers mainly in the United States and Europe[20](index=20&type=chunk) - The trading business involves the trading and distribution of headwear, small leather goods, handbags, and accessories through subsidiaries like H3 Sportgear LLC and San Diego Hat Company, focusing on the US and European markets[20](index=20&type=chunk) [Revenue and Profit](index=8&type=section&id=2.2.1%20Revenue%20and%20Profit) Manufacturing business achieved significant growth in both revenue and profit, while trading business revenue increased but still recorded an operating loss Revenue and Profit by Business Segment | Metric (HK$ '000) | June 30, 2025 (Manufacturing) | June 30, 2024 (Manufacturing) | June 30, 2025 (Trading) | June 30, 2024 (Trading) | June 30, 2025 (Total) | June 30, 2024 (Total) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue from external customers | 537,720 | 445,769 | 307,909 | 241,345 | 845,629 | 687,114 | | Reportable segment profit / (loss) | 120,152 | 93,178 | (43,834) | (37,739) | 76,318 | 55,439 | | Operating profit | - | - | - | - | 84,729 | 65,048 | | Profit for the period | - | - | - | - | 57,579 | 39,979 | [Assets and Liabilities](index=9&type=section&id=2.2.2%20Assets%20and%20Liabilities) Segment assets and liabilities for both manufacturing and trading businesses remained stable, with a slight decrease in overall segment liabilities Assets and Liabilities by Business Segment | Metric (HK$ '000) | June 30, 2025 (Manufacturing) | December 31, 2024 (Manufacturing) | June 30, 2025 (Trading) | December 31, 2024 (Trading) | June 30, 2025 (Total) | December 31, 2024 (Total) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Reportable segment assets | 833,149 | 837,368 | 788,407 | 808,638 | 1,621,556 | 1,646,006 | | Reportable segment liabilities | 229,331 | 271,142 | 210,851 | 207,588 | 440,182 | 478,730 | - Segment assets exclude investment properties, deferred income tax assets, investments accounted for using the equity method, financial assets measured at fair value through profit or loss, recoverable tax, short-term deposits, and cash and cash equivalents[21](index=21&type=chunk) - Segment liabilities exclude current and deferred income tax liabilities, borrowings, and other corporate liabilities not directly attributable to any operating segment's business activities[22](index=22&type=chunk) [Profit Before Income Tax Analysis](index=10&type=section&id=2.3%20Profit%20Before%20Income%20Tax%20Analysis) Operating profit for the period increased to HK$84.729 million, with key cost items including depreciation, amortization, inventory provisions, and impairment of trade receivables, alongside net finance costs Profit Before Income Tax Analysis | Item (HK$ '000) | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Operating profit | 84,729 | 65,048 | | Depreciation of property, plant and equipment | 31,654 | 28,078 | | Depreciation of right-of-use assets | 8,991 | 7,101 | | Amortisation of other intangible assets | 11,239 | 11,995 | | Net provision for inventories | 2,999 | 1,162 | | Net impairment loss on trade receivables | 2,620 | 2,163 | | Finance costs – net | (7,457) | (6,590) | - Net provision for inventories increased to **HK$2.999 million** (2024: HK$1.162 million), primarily due to consideration of inventory conditions, market demand, and historical usage[24](index=24&type=chunk)[26](index=26&type=chunk) - Net impairment loss on trade receivables increased to **HK$2.62 million** (2024: HK$2.163 million), mainly related to expected credit losses from US and European customers[24](index=24&type=chunk)[26](index=26&type=chunk) [Income Tax Expense](index=11&type=section&id=2.4%20Income%20Tax%20Expense) Income tax expense for the period increased to HK$19.693 million, primarily driven by overseas taxation, with Hong Kong profits tax at 16.5% Income Tax Expense Details | Item (HK$ '000) | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Hong Kong profits tax | 507 | 770 | | Overseas taxation | 20,013 | 17,079 | | Deferred income tax | (827) | 615 | | Total income tax expense | 19,693 | 18,464 | - Income tax expense is recognized based on management's estimate of the weighted average annual income tax rate for the entire financial year[27](index=27&type=chunk) [Earnings Per Share](index=12&type=section&id=2.5%20Earnings%20Per%20Share) Significant growth in profit attributable to owners led to a substantial increase in both basic and diluted earnings per share, reaching 13.962 HK cents and 13.856 HK cents respectively Earnings Per Share Data | Metric | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Profit attributable to owners of the Company (HK$ '000) | 59,918 | 35,269 | | Weighted average number of ordinary shares in issue | 429,164,448 | 429,164,448 | | Basic earnings per share (HK cents) | 13.962 | 8.218 | | Diluted earnings per share (HK cents) | 13.856 | 8.141 | - The calculation of diluted earnings per share considers the conversion effect of all outstanding share options[29](index=29&type=chunk) [Dividends](index=13&type=section&id=2.6%20Dividends) The Board declared an interim dividend of 3 HK cents per share, consistent with the prior year, in addition to the final dividend for the previous fiscal year Dividends Declared and Paid | Dividend Type | June 30, 2025 (HK$ '000) | June 30, 2024 (HK$ '000) | | :--- | :--- | :--- | | Interim dividend declared (3 HK cents per share) | 12,875 | 12,875 | | Final dividend paid for 2024 (5 HK cents per share) | 21,458 | 25,750 | | Final dividend paid for 2023 (6 HK cents per share) | - | 25,750 | - The proposed interim dividend amount is based on 429,164,448 issued shares as of June 30, 2025[32](index=32&type=chunk) [Asset Details](index=14&type=section&id=2.7%20Asset%20Details) The Group saw reduced investment in property, plant, and equipment but an increase in right-of-use assets, while investment properties recorded a fair value loss and trade receivables grew - During the period, **HK$26.16 million** was invested in property, plant and equipment (2024: HK$127.6 million for property acquisition), and **nil** in intangible assets (2024: HK$28.678 million)[35](index=35&type=chunk) - One investment property recorded a fair value loss of **HK$2.373 million**[35](index=35&type=chunk) Right-of-Use Assets and Lease Liabilities | Item (HK$ '000) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Right-of-use assets (properties) | 56,482 | 55,628 | | Lease liabilities (non-current) | 47,028 | 45,911 | | Lease liabilities (current) | 13,611 | 14,382 | | Total lease liabilities | 60,639 | 60,293 | Trade Receivables and Other Financial Assets | Item (HK$ '000) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Trade receivables, net | 401,737 | 375,642 | | Other financial assets measured at amortised cost | 20,172 | 20,149 | | Total current portion | 419,304 | 394,349 | - An aging analysis of trade receivables shows **HK$134 million** aged 0-30 days, **HK$128 million** aged 31-60 days, and **HK$46.815 million** aged over 180 days[37](index=37&type=chunk) [Trade and Other Payables](index=17&type=section&id=2.8%20Trade%20and%20Other%20Payables) Total trade and other payables decreased, mainly due to reductions in trade payables and accrued expenses, with the current portion totaling HK$364.3 million Trade and Other Payables Details | Item (HK$ '000) | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Trade payables | 168,273 | 188,009 | | Accruals and other payables | 218,871 | 240,581 | | Total | 387,144 | 428,590 | | Current portion | 364,332 | 402,196 | - An aging analysis of trade payables shows **HK$111 million** aged 0-30 days and **HK$20.563 million** aged over 90 days[38](index=38&type=chunk) Management Discussion and Analysis [Financial Review](index=18&type=section&id=3.1%20Financial%20Review) Despite global uncertainties, the Group achieved significant revenue and shareholder profit growth through optimized global production and cost control, maintaining a robust financial position - The Group's revenue increased by **23.1%** year-on-year to **HK$845.6 million**, and gross profit rose by **16.2%** to **HK$255.1 million**, with a gross profit margin of **30.2%** (2024 interim: 31.9%)[41](index=41&type=chunk) - Profit attributable to shareholders increased by **69.9%** to **HK$59.918 million**[41](index=41&type=chunk) - Cash on hand and unutilized bank facilities were approximately **HK$239 million** and **HK$664 million** respectively as of June 30, 2025, indicating a robust financial position[41](index=41&type=chunk) [Business Review](index=19&type=section&id=3.2%20Business%20Review) Manufacturing business saw substantial growth from order transfers and efficient execution, while trading business revenue increased with the Dutch company's inclusion, despite an operating loss due to high costs [Manufacturing Business](index=19&type=section&id=3.2.1%20Manufacturing%20Business) Manufacturing business saw substantial growth in revenue and operating profit, driven by order transfers to the Bangladesh factory and stable operations at the Mexico factory - The Bangladesh factory secured a large volume of orders transferred from high-tariff regions, significantly boosting its production scale and profitability[42](index=42&type=chunk) - The Mexico factory's operations stabilized, commencing production of high-end headwear styles to enrich the product portfolio[42](index=42&type=chunk) - Manufacturing business revenue increased by **20.6%** to **HK$537.7 million** during the period, accounting for **63.6%** of the Group's total revenue[43](index=43&type=chunk) - Segment operating profit surged by **28.9%** year-on-year to **HK$120.152 million**[43](index=43&type=chunk) [Trading Business](index=20&type=section&id=3.2.2%20Trading%20Business) Trading business revenue increased by 27.6% to HK$307.9 million, but recorded an operating loss of HK$43.8 million due to high sales costs and integration expenses from the Dutch company - Trading business revenue increased by **27.6%** year-on-year to **HK$307.9 million**, representing approximately **36.4%** of the Group's total revenue[44](index=44&type=chunk) - The trading segment recorded an operating loss of **HK$43.834 million** (2024 interim: operating loss of HK$37.739 million), primarily due to high sales costs and increased administrative expenses from the integration of the Dutch company[44](index=44&type=chunk) [Outlook](index=20&type=section&id=3.3%20Outlook) The Group plans to expand manufacturing in Cambodia and Mexico, enhance trading through a free trade zone and the Dutch company, and continuously optimize risk control and costs - The Group will adhere to a pragmatic approach, steadily advancing its global footprint while prudently managing risks and actively seizing opportunities[45](index=45&type=chunk) [Manufacturing Business Strategy](index=20&type=section&id=3.3.1%20Manufacturing%20Business%20Strategy) The Group plans to launch a Cambodia production line with a target annual capacity of 10 million units and expand the Mexico factory to strengthen its North American market position - The Cambodia production line is expected to commence operations in the third quarter of this year, targeting an annual production capacity of **10 million units**, which will optimize the Southeast Asian production network[45](index=45&type=chunk) - The Mexico factory will expand its production capacity to solidify its leading position in the North American supply chain, benefiting from zero-tariff treatment under the USMCA agreement[45](index=45&type=chunk) [Trading Business Strategy](index=21&type=section&id=3.3.2%20Trading%20Business%20Strategy) The Group is developing a free trade zone and warehouse in Mexico and leveraging the Dutch company to expand into new markets like the Middle East and Africa - The Group is advancing the planned free trade zone project and warehouse construction within the Mexico factory park, expecting to fully leverage cross-border logistics advantages and significantly enhance trading business operational efficiency[46](index=46&type=chunk) - The integration of the Dutch company will expand the trading business's market coverage from Europe and America to emerging markets such as the Middle East and Africa[46](index=46&type=chunk) [Risk Control and Cost Optimization](index=21&type=section&id=3.3.3%20Risk%20Control%20and%20Cost%20Optimization) The Group will continue to enhance risk control and cost optimization measures to maintain financial resilience and capitalize on growth opportunities in a complex environment - The Group will continue to deepen risk control and cost optimization initiatives to ensure healthy financial resilience in a complex environment[46](index=46&type=chunk) - Leveraging its market leadership, global production footprint, diversified product portfolio, and keen business insights, the Group is confident in overcoming challenges and creating long-term value[47](index=47&type=chunk) [Liquidity and Financial Resources](index=21&type=section&id=3.4%20Liquidity%20and%20Financial%20Resources) As of June 30, 2025, the Group's cash and liquid investments increased, with ample bank facilities and a reduced gearing ratio, indicating strong financial health Liquidity and Financial Resources | Metric | June 30, 2025 (HK$ Million) | December 31, 2024 (HK$ Million) | | :--- | :--- | :--- | | Total cash and bank balances (including short-term deposits) and liquid investment portfolio | 243.4 | 196.0 | | Bank credit facilities | 852.2 | 905.4 | | Unutilised bank credit facilities | 664.3 | 720.6 | | Gearing ratio (borrowings to total equity) | 15.9% | 16.9% | - Approximately **60.6%**, **17.4%**, and **8.1%** of the liquidity are denominated in USD, RMB, and HKD, respectively[48](index=48&type=chunk) [Capital Expenditure](index=22&type=section&id=3.5%20Capital%20Expenditure) Capital expenditure focused on property renovation, equipment upgrades, and capacity expansion, with approved commitments for new facilities in Mexico, Bangladesh, and Cambodia - During the period, approximately **HK$9.4 million** was invested in renovating properties in Missouri, USA (2024 interim: HK$102.4 million for property acquisition)[49](index=49&type=chunk) - **HK$15.6 million** was invested in acquiring equipment and machinery to further upgrade and expand production capacity[49](index=49&type=chunk) - Approved capital commitments of **HK$151.4 million** are designated for the construction of a warehouse at the Mexico factory and business expansion in Bangladesh and Cambodia[49](index=49&type=chunk) [Foreign Exchange Risk](index=22&type=section&id=3.6%20Foreign%20Exchange%20Risk) Most assets and liabilities are denominated in HKD, USD, RMB, or BDT, with BDT fluctuations expected to impact manufacturing gross profit margin - The majority of the Group's assets and liabilities are denominated in Hong Kong Dollars, US Dollars, Renminbi, or Bangladeshi Taka[50](index=50&type=chunk) - A 1% appreciation/depreciation of the Bangladeshi Taka is expected to result in a decrease/increase of approximately **0.25%** in the manufacturing business's gross profit margin[50](index=50&type=chunk) [Employees and Remuneration Policy](index=22&type=section&id=3.7%20Employees%20and%20Remuneration%20Policy) The Group employed 8,222 staff globally as of June 30, 2025, with competitive remuneration based on position and performance, including share options for key employees Employee Distribution | Region | June 30, 2025 (Number of Employees) | June 30, 2024 (Number of Employees) | | :--- | :--- | :--- | | China (including Hong Kong) | 220 | 335 | | Bangladesh | 7,235 | 7,222 | | Mexico | 585 | 389 | | United States | 116 | 147 | | Europe | 66 | 11 | | Total | 8,222 | 8,104 | - Employee expenses for the period were approximately **HK$223.8 million** (2024 interim: HK$192.3 million)[51](index=51&type=chunk) - Employee remuneration levels are competitive and determined by position and performance, with key employees (including directors) granted share options[51](index=51&type=chunk) Other Information [Interim Dividend](index=22&type=section&id=4.1%20Interim%20Dividend) The Board declared an interim dividend of 3 HK cents per share, payable on or after October 10, 2025, consistent with the previous year - The Board has declared an interim dividend of **3 HK cents** per share (2024: 3 HK cents)[52](index=52&type=chunk) - The interim dividend will be paid on or after October 10, 2025[52](index=52&type=chunk) [Closure of Register of Members](index=23&type=section&id=4.2%20Closure%20of%20Register%20of%20Members) The company will temporarily close its register of members from September 17 to September 19, 2025, to determine eligibility for the interim dividend - The company's register of members will be closed from September 17, 2025, to September 19, 2025 (both dates inclusive)[53](index=53&type=chunk) - To qualify for the interim dividend, all transfer documents must be lodged with the company's Hong Kong share registrar by 4:30 p.m. on September 16, 2025[53](index=53&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=23&type=section&id=4.3%20Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) Neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the six months ended June 30, 2025 - During the six months ended June 30, 2025, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[54](index=54&type=chunk) [Corporate Governance](index=23&type=section&id=4.4%20Corporate%20Governance) The Board confirmed compliance with the Corporate Governance Code and Model Code, and the Audit Committee reviewed the interim condensed consolidated financial information - The company has complied with the code provisions of the Corporate Governance Code set out in Appendix 14 to the Listing Rules[55](index=55&type=chunk) - All Directors have confirmed their compliance with the Model Code set out in Appendix 10 to the Listing Rules for the period ended June 30, 2025[56](index=56&type=chunk) - The Audit Committee has reviewed the interim condensed consolidated financial information for the period ended June 30, 2025[57](index=57&type=chunk)

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]

（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 ...

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 ...

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]

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]

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]

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， ...

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]