Financial Performance - The company's revenue from continuing operations decreased by 8.8% to HKD 1,048,006,000 in 2020, compared to HKD 1,146,834,000 in 2019[16] - The gross profit from continuing operations declined by 7.9% to HKD 318,689,000, while the gross profit margin slightly increased to 30.4% from 30.2% in the previous year[16] - The operating profit from the manufacturing segment fell by 16.5% to HKD 87,625,000, down from HKD 104,951,000 in 2019[19] - The company reported a net profit attributable to shareholders of HKD 45,895,000, a decrease of 21.2% from HKD 58,213,000 in 2019[16] - The trading business achieved a revenue growth of 7.9% to HKD 514,278,000, accounting for 49.1% of the group's total revenue[23] - The operating loss for the trading segment was HKD 21,984,000, slightly improved from a loss of HKD 21,986,000 in the previous year[23] - Cash and cash equivalents totaled HKD 226,000,000, an increase from HKD 127,800,000 in the previous year[32] - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[47] Dividends and Shareholder Returns - The company declared a final dividend of HKD 0.03 per share, maintaining the same level as the previous year, resulting in a total annual dividend of HKD 0.05 per share[18] - The interim dividend of HKD 0.02 per share was paid on October 8, 2020, totaling HKD 8,106,000, consistent with the previous year[127] - The proposed final dividend is HKD 0.03 per share for the year ended December 31, 2020, which is the same as the previous year[127] Cash Flow and Financing - Cash and undrawn bank financing as of December 31, 2020, reached approximately HKD 219.5 million and HKD 219.3 million, respectively, compared to HKD 112.5 million and HKD 306.3 million in 2019[18] - The bank credit facility was HKD 513,400,000, with HKD 219,300,000 unused, compared to HKD 581,300,000 and HKD 306,300,000 respectively in the previous year[32] - The company has a strong financial position, with a bank borrowing to equity ratio of 37.2%, up from 36.1% in the previous year[32] Operational Performance - The manufacturing segment's revenue from external customers decreased by 20.4% to HKD 533,728,000, accounting for approximately 50.9% of total revenue from continuing operations[19] - The company experienced a significant rebound in orders starting from June 2020, achieving one of its best sales performances in recent years during the last quarter[11] - Employee expenses for the year were approximately HKD 251,800,000, a decrease from HKD 288,300,000 in the previous year[38] - Capital expenditure for the year was approximately HKD 16.6 million, down from HKD 37.8 million in the previous year[33] - The capital expenditure budget for the upcoming year is HKD 48,600,000, with HKD 45,600,000 allocated for expanding manufacturing in Bangladesh[35] E-commerce and Market Strategy - The pandemic accelerated the shift towards online shopping, benefiting the company's established e-commerce business, which saw a significant increase in sales volume[14] - The company plans to enhance its e-commerce business to capitalize on the ongoing online shopping trend[26] - The company aims to expand its licensed brand portfolio to strengthen its competitive advantage amid industry consolidation[26] Corporate Governance - The company is committed to high standards of corporate governance to enhance shareholder value[62] - The board of directors approved a dividend of $K per share, reflecting a commitment to returning value to shareholders[47] - The board is responsible for overseeing the company's affairs to promote its success and protect shareholder interests[63] - The company has established a policy for providing independent professional advice to directors to assist them in fulfilling their responsibilities[67] - The company has adopted a board diversity policy, considering factors such as cultural background, race, and professional experience to achieve board diversity[76] Risk Management and Internal Controls - The board is responsible for the overall risk management and internal control systems of the group[100] - The company has implemented a robust risk management process integrated into strategic planning and daily operations[105] - The audit committee consists of three independent non-executive directors and held two meetings in 2020[94] - The company ensures compliance with corporate governance codes and maintains effective internal control systems[104] Environmental Sustainability - The company is committed to environmental sustainability, implementing ISO 14001 standards across its factories[182] - The company focuses on minimizing the use of hazardous materials and promotes recycling and resource conservation[190] - The company has established a wastewater treatment station to process industrial and domestic wastewater[194] - The company actively collaborates with brand clients and suppliers to select environmentally friendly materials for production[197] Share Capital and Options - The company has adopted a new share option plan allowing the issuance of up to 40,532,828 shares, equivalent to 10% of the issued share capital as of May 16, 2018[158] - The company has granted share options to directors and employees, with a total of 22,400,000 options remaining unexercised as of the reporting date[162] - The company has a total of 266,308,000 shares held by key executives, representing 65.70% of the total equity[152] Employee and Director Compensation - The remuneration committee, consisting mainly of independent non-executive directors, reviewed the compensation policies for directors and senior management in 2020[88] - The company ensures that the compensation levels for employees, including directors and senior management, are competitive and based on their positions and performance[88]

Financial Performance - The company's revenue from continuing operations decreased by 17.3% to HKD 430,952,000 compared to HKD 521,181,000 in the same period last year[6]. - Gross profit from continuing operations fell by 14.0% to HKD 129,377,000, with a gross margin improvement to 30.0% from 28.9% in the previous year[6]. - Profit attributable to shareholders decreased by 97.8% to HKD 757,000, down from HKD 34,578,000 in the prior period[6]. - Manufacturing revenue dropped by 33.5% to HKD 268,469,000, with external customer revenue also down by 33.5% to HKD 235,980,000, accounting for approximately 54.8% of total revenue[8]. - Trade business revenue surged by 17.4% to HKD 194,972,000, representing 45.2% of total revenue, driven by the acquisition of Aquarius Ltd. and growth in e-commerce[12]. - The group reported a revenue of HKD 430.95 million for the six months ended June 30, 2020, down from HKD 521.18 million in the same period of 2019, representing a decrease of approximately 17.3%[24]. - The gross profit for the same period was HKD 129.38 million, compared to HKD 150.39 million in 2019, indicating a decline of about 13.9%[24]. - The operating profit decreased significantly to HKD 9.61 million from HKD 46.70 million year-on-year, reflecting a drop of approximately 79.5%[24]. - The company reported a profit of HKD 1,340,000 for the six months ended June 30, 2020, a significant decrease from HKD 35,314,000 in the same period of 2019, representing a decline of approximately 96.2%[26]. - Total comprehensive loss for the period was HKD 2,344,000, compared to a total comprehensive income of HKD 34,889,000 in the previous year, indicating a shift from profit to loss[27]. Financial Position - The company maintained a strong financial position with cash and undrawn bank credit facilities of approximately HKD 223,600,000 and HKD 224,200,000, respectively[7]. - As of June 30, 2020, the group's cash and bank balances totaled HKD 228.9 million, an increase from HKD 127.8 million as of December 31, 2019[17]. - The group has a bank borrowing to equity ratio of 44.8% as of June 30, 2020, up from 36.1% at the end of 2019, indicating increased leverage[17]. - The company's total liabilities increased from HKD 572,160,000 to HKD 587,696,000, an increase of about 2.2%[32]. - Total equity decreased from HKD 755,934,000 to HKD 741,932,000, a decline of approximately 1.9%[32]. - Cash and cash equivalents increased significantly from HKD 112,549,000 to HKD 223,623,000, representing an increase of about 98.5%[28]. - The total borrowings increased to HKD 332,679,000 as of June 30, 2020, compared to HKD 272,919,000 at the beginning of the year, reflecting a rise of 21.9%[111]. Operational Changes - The workforce in Bangladesh and Shenzhen decreased to approximately 4,000 and 600 employees, respectively, due to operational restrictions and reduced order needs[11]. - The company has ceased its retail operations in Hong Kong and mainland China, allowing it to focus more resources on manufacturing and trade[13]. - The management has implemented effective cost control measures and increased automation in the Bangladesh factory, leading to improved production efficiency despite workforce reductions[6]. - The company has successfully pivoted to e-commerce, which has shown significant growth during the pandemic, indicating the effectiveness of its strategic investments over the past two years[12]. - The group’s main business includes hat manufacturing, trading, and retail, with significant production facilities located in Bangladesh and Shenzhen, China[60]. - The group’s trading business focuses on the European market through Drew Pearson International (Europe) Ltd. and the U.S. market through H3 Sportgear LLC, San Diego Hat Company, and Aquarius Ltd.[63]. - The group’s retail operations in Hong Kong and China have been terminated, reflecting a strategic shift in business focus[64]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2020, was HKD 72,012,000, a significant increase of 138% compared to HKD 30,248,000 in the same period of 2019[36]. - Net cash generated from operating activities reached HKD 63,515,000, up from HKD 23,412,000, reflecting a growth of 171% year-over-year[36]. - The net cash from investing activities was HKD 11,342,000, a recovery from a net cash outflow of HKD 79,678,000 in the same period last year[36]. - The company plans to invest approximately HKD 8.6 million in equipment to upgrade and expand production capacity, down from HKD 14.5 million in the same period of 2019[18]. - The company did not acquire any subsidiaries during the reporting period, contrasting with a cash outflow of HKD 54,279,000 for acquisitions in the same period of 2019[36]. Shareholder Information - Mr. Yan Xiang holds a total of 266,308,000 shares, representing 65.70% of the company's equity[124]. - Ms. Yan Bao Ling holds 183,700,000 shares, which is part of the total shares held by Successful Years International Co., Ltd., of which she owns 60%[125]. - Major shareholder Yan Baoling holds 37,808,000 shares, representing 9.33% of total equity[136]. - Successful Years International Co., Ltd. owns 183,700,000 shares, accounting for 45.32% of total equity[136]. - Christopher Koch has a controlling interest in NEHK, which holds 79,601,000 shares, equivalent to 19.64% of total equity[137]. Corporate Governance - The company has complied with the corporate governance code as per the listing rules during the six months ending June 30, 2020[142]. - The audit committee, consisting of all independent non-executive directors, reviewed the financial reporting procedures for the period ending June 30, 2020[145]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2020[141]. - The company has adopted the standard code of conduct for securities transactions, and all directors confirmed compliance during the reporting period[143]. - The board consists of eight directors, including five executive directors and three independent non-executive directors[147].

Financial Performance - The company's revenue from continuing operations increased by 29.4% to HKD 1,146,834,000, compared to HKD 885,933,000 in 2018[19] - Gross profit from continuing operations rose by 30.0% to HKD 346,212,000, with a gross margin improvement to 30.2% from 30.1% in 2018[19] - The company reported a net profit attributable to shareholders of HKD 58,213,000, a decrease of 6.9% from HKD 62,513,000 in 2018[19] - Trade business revenue surged by 123.6% to HKD 476,507,000, accounting for 41.5% of total revenue, driven by double-digit growth from a multinational retail client and the consolidation of AQ's financial performance since June 2019[24] - Cash and cash equivalents totaled HKD 127,800,000 as of December 31, 2019, an increase from HKD 112,200,000 in 2018, with bank credit facilities amounting to HKD 581,300,000[32] Manufacturing and Operations - The manufacturing business generated revenue of HKD 743,161,000, with external customer revenue slightly declining by 0.4% to HKD 670,327,000, accounting for approximately 58.5% of total revenue[22] - The second phase of the Bangladesh factory was substantially completed by the end of 2019, increasing production capacity by over 12% to approximately 4.5 million units per month[18] - A five-year manufacturing agreement was signed with New Era Cap Co., Inc., with a minimum product supply value of USD 47,000,000 in the first year[23] - The introduction of automation and information technology in production is aimed at mitigating rising labor costs and improving efficiency[22] - The group plans to allocate HKD 26,800,000 for capital expenditures, with HKD 21,800,000 earmarked for expanding manufacturing operations in Bangladesh[37] Strategic Initiatives - The company exited the retail business, allowing it to focus resources on manufacturing and trading operations[18] - The group anticipates steady growth in trade business, benefiting from investments made in previous years and the rise of e-commerce, particularly during the COVID-19 pandemic[29] - The acquisition of AQ was completed for USD 8,751,000 (approximately HKD 68,086,000), with expected synergies in sales and cost savings contributing to goodwill[39] - Market expansion plans include entering H and I markets, aiming for a market share increase of J% within the next two years[15] - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the K sector[15] Employee and Compensation - Employee expenses for the year amounted to approximately HKD 288.3 million, an increase from HKD 250.2 million in 2018, reflecting a year-on-year growth of 15.3%[41] - The group ensures competitive salary levels for employees, with compensation determined by position and performance, and key employees are granted stock options under the company's stock option plan[41] - The remuneration committee reviewed the annual salary review policy, stock option grants as part of long-term incentive plans, and performance-linked bonuses[90] - The company ensures competitive remuneration levels for employees, including directors and senior management, based on their positions and performance[90] Corporate Governance - The board has adopted a diversity policy to enhance the achievement of strategic goals and sustainable development[76] - The company has established a nomination committee to ensure a formal and transparent process for appointing new directors[80] - The board believes that the experience of independent directors in accounting, finance, and business will benefit the board significantly[74] - The company has a structured succession plan for directors to ensure orderly re-election[78] - The audit committee recommended the reappointment of the current external auditor for 2020[99] Environmental Commitment - The company is committed to reducing emissions and waste, implementing ISO 14001 environmental management standards across its operations[185] - The company has made investments in green infrastructure, including 50 permeable parking spaces and rainwater collection systems at its Shenzhen facility[193] - The company achieved an average water recycling rate of approximately 24% at its Shenzhen facility in 2019[195] - The group emphasizes environmental protection and resource conservation, ensuring compliance with environmental laws and regulations without any significant violations reported during the period[199] Shareholder Information - The company declared a final dividend of HKD 0.03 per share, maintaining the total dividend for the year at HKD 0.05 per share[20] - The company declared an interim dividend of HKD 0.02 per share, totaling HKD 8,106,000, paid on October 10, 2019[130] - As of December 31, 2019, the company's available reserves for cash distribution amounted to HKD 556,356,000, an increase from HKD 489,752,000 in 2018[139] - The largest customer accounted for 37.2% of sales, while the top five customers collectively represented 61.5% of sales[135] Risk Management - The board is responsible for maintaining a sound internal control system to protect shareholder investments and the company's assets[95] - The company has established a risk register to monitor and regularly update identified key risks[104] - The internal audit team assists the board and audit committee in monitoring internal control processes, with no significant deficiencies noted in the 2019 audit[110] - Major capital investments or acquisition decisions require board approval[107]

Financial Performance - For the six months ended June 30, 2019, the company reported revenue of HKD 521,181,000, a significant increase of 19.6% compared to HKD 435,838,000 in the same period last year[7] - The gross profit from continuing operations rose by 12.5% to HKD 150,386,000, while the gross margin decreased by 1.8 percentage points to 28.9% due to rising material and labor costs[7] - The operating profit from the manufacturing segment increased by 7.7% to HKD 55,853,000, benefiting from a higher production ratio at the Bangladesh facility, which accounted for approximately 85% of total production[8] - The trade business recorded a revenue of HKD 166,128,000, representing a 43.3% increase, but faced an operating loss of HKD 9,164,000 due to cautious purchasing behavior and increased discounts[10] - The total comprehensive income for the period, after tax, was HKD 34,889,000, an increase of 11.9% from HKD 31,399,000 in the previous year[27] - The profit attributable to the owners of the company was HKD 34,153,000, compared to HKD 31,010,000 in the previous year, reflecting a growth of 10.3%[27] - The basic earnings per share from continuing operations decreased to 9.67 HKD for the six months ended June 30, 2019, from 10.32 HKD in the prior year[24] - For the six months ended June 30, 2019, the profit attributable to owners of the company from continuing operations was HKD 39,210,000, compared to HKD 41,815,000 for the same period in 2018, representing a decrease of approximately 6.3%[97] - The diluted earnings per share from continuing operations was 9.66 HK cents, down from 10.19 HK cents year-on-year[98] Business Operations - The company completed the acquisition of Aquarius Ltd. on May 30, 2019, expanding its business from hats to accessories, which is expected to enhance revenue sources and product offerings[10] - Management anticipates that the new phase of the Bangladesh facility will commence production by the end of the year, increasing employee count to approximately 8,000 and monthly production capacity to 5 million hats[13] - The company expects the contribution from the Bangladesh facility to increase from approximately 85% to 90% of total production capacity upon full operation[13] - The company is in the process of terminating its retail operations, with revenue from this segment decreasing to HKD 22,157,000, and operating loss narrowing to HKD 4,643,000[12] - The company plans to exit the retail business due to ongoing losses and uncertain market prospects, actively negotiating the sale of its 75% stake in a subsidiary[48] - The acquisition of Aquarius was completed on May 30, 2019, for a total consideration of USD 7,000,000 (approximately HKD 54,460,000) plus a contingent consideration of up to USD 2,000,000 (approximately HKD 15,560,000)[19][136] - Aquarius contributed revenue of HKD 25,157,000 and a net profit of HKD 1,803,000 to the consolidated income statement for the period since acquisition[141] Financial Position - The total assets increased to HKD 1,276,352,000, up from HKD 1,071,593,000, representing a growth of 19.1%[33] - The current assets amounted to HKD 551,822,000, compared to HKD 487,693,000 in the previous year, indicating an increase of 13.1%[35] - The company's equity attributable to owners was HKD 728,198,000, an increase from HKD 705,326,000, showing a growth of 3.3%[36] - The total liabilities rose to HKD 538,250,000, compared to HKD 357,099,000, reflecting a significant increase of 50.7%[36] - The cash and cash equivalents stood at HKD 136,319,000, up from HKD 97,254,000, marking an increase of 40.2%[35] - The total borrowings as of June 30, 2019, increased to HKD 288,883,000, compared to HKD 127,348,000 as of June 30, 2018, indicating a significant increase of approximately 126%[130] Capital Expenditures and Investments - Capital expenditure during the period included approximately HKD 18,600,000 for constructing a factory in Bangladesh and HKD 14,500,000 for equipment upgrades[16] - The company recognized acquisition-related costs of HKD 4,069,000 in the administrative expenses for the period[139] - The company has committed but not yet incurred capital expenditures amounting to HKD 3,775,000 as of June 30, 2019[18] Debt and Financing - The group’s bank credit facilities increased to HKD 533,600,000 as of June 30, 2019, compared to HKD 381,300,000 at the end of 2018, with HKD 239,000,000 unused[15] - The capital debt ratio was reported at 39.1% as of June 30, 2019, up from 21.0% at the end of 2018, indicating increased leverage[15] - The company reported a significant increase in bank borrowings, which rose to HKD 136,664,000 from HKD 45,000,000, marking a 203.7% increase[42] - The net cash from financing activities was HKD 95,568,000, a substantial rise from HKD 2,805,000 in the prior year[42] Employee and Management Information - The group employed 1,076 staff in China and 5,432 in Bangladesh as of June 30, 2019, with total employee expenses of approximately HKD 138,600,000[18] - The total remuneration for key management personnel for the first half of 2019 was HKD 12,341,000, up from HKD 12,156,000 in the same period of 2018, representing an increase of approximately 1.5%[158] - The remuneration for short-term employee benefits for key management personnel increased to HKD 12,230,000 in 2019 from HKD 12,054,000 in 2018, reflecting a growth of approximately 1.5%[158] Shareholder Information - As of June 30, 2019, the company’s directors held a total of 266,308,000 shares, representing 65.70% of the total equity[162] - Major shareholders include Ms. Yan Baoling with 37,808,000 shares (9.33%) and Successful Years International Co., Ltd. with 183,700,000 shares (45.32%)[175] - The total shareholding of major shareholders amounts to 221,508,000 shares, representing 54.65% of the company[175] Accounting and Compliance - New accounting policies were adopted, including the implementation of HKFRS 16 on leases, affecting the recognition of lease liabilities and right-of-use assets[51] - The adoption of HKFRS 16 resulted in an increase of HKD 14,462,000 in both right-of-use assets and lease liabilities as of January 1, 2019[60] - The company confirmed that there were no loss-making lease contracts requiring adjustments to right-of-use assets upon initial application[60] - The company complied with the corporate governance code as per the listing rules during the six months ending June 30, 2019[181] Risk Management - The financial risk factors include market risk (foreign exchange risk, interest rate risk, and price risk), credit risk, and liquidity risk[66] - The company expects that newly issued accounting standards will not have a significant impact on its financial statements in the foreseeable future[62] - The company's financial data should be read in conjunction with the annual financial statements as of December 31, 2018, for comprehensive risk management information[66]

Financial Performance - The company reported a revenue of HKD 941,493,000 for the year, an increase of 5.7% compared to HKD 890,707,000 in the previous year[24]. - Gross profit was HKD 291,524,000, reflecting a 1.3% increase from HKD 287,794,000, but the overall gross margin decreased by 1.3 percentage points to 31.0%[24]. - The overall profit attributable to shareholders decreased to HKD 62,513,000 from HKD 77,228,000 in the previous year[24]. - Retail segment revenue decreased to HKD 55,560,000 in 2018 from HKD 71,601,000 in 2017, with an operating loss of HKD 13,677,000 compared to HKD 8,447,000 in 2017[28]. - The group’s debt-to-equity ratio increased to 21.0% in 2018 from 16.7% in 2017, indicating a stronger financial position[35]. - As of December 31, 2018, the group's cash and cash equivalents totaled HKD 112,200,000, down from HKD 207,100,000 in 2017, with a bank credit facility of HKD 381,300,000[35]. Revenue Segmentation - Manufacturing business revenue reached HKD 728,934,000, with external customer revenue growing 6.0% to HKD 672,790,000, accounting for 71.5% of total revenue[26]. - Trade business revenue grew by 15.5% to HKD 213,143,000, despite challenges in the retail market[27]. Production and Capacity - The monthly production capacity increased over 30% to approximately 4 million hats, supported by nearly 5,000 employees in the Bangladesh factory[26]. - The group plans to complete the construction of a new factory in Bangladesh by the end of 2019, aiming to increase workforce to approximately 6,000 and monthly production capacity to 5 million hats, raising Bangladesh's production share from 75% to 90%[29]. - The company is focusing on enhancing production efficiency and expanding its workforce to meet strong order demand from partners[23]. - The group is actively introducing automation and information technology in production to mitigate rising labor costs in Bangladesh[29]. Investments and Expenditures - The group invested HKD 118,600,000 in commercial buildings in the US and a factory in Bangladesh, with an additional HKD 18,500,000 for facility upgrades in Bangladesh[36]. - The capital expenditure budget for the group is set at HKD 64,300,000, primarily for manufacturing expansion in Bangladesh[39]. - The group invested HKD 137,744,000 in office and warehouse construction in the US and a factory building in Bangladesh during the year, compared to HKD 116,750,000 in 2017[139]. Corporate Governance - The company emphasizes high standards of corporate governance to enhance shareholder value[63]. - The board of directors held a total of 4 meetings during the year, with all executive directors attending all meetings[64]. - The company has a total of 5 executive directors and 3 independent non-executive directors, ensuring a balanced composition for effective independent judgment[71]. - The independent non-executive directors have served for over nine years, but the board believes they still meet the independence criteria[72]. - The company has adopted a board diversity policy, considering various factors such as cultural background, professional experience, and skills to achieve diversity[75]. - The chairman and the CEO roles are clearly separated to ensure a balance of power and authority within the company[69]. Risk Management - The company has implemented a risk management process integrated into strategy formulation, business planning, and daily operations[104]. - The board is responsible for the overall risk management and internal control systems of the group[104]. - The company conducts monthly operational updates and financial reporting discussions to manage operational and financial risks[106]. - The company has established effective risk management and internal control systems to safeguard significant assets and monitor business risks[114]. Shareholder Information - The company reported a mid-term dividend of HKD 0.02 per share, totaling HKD 8,106,000, paid on October 12, 2018[131]. - The board proposed a final dividend of HKD 0.03 per share for the year ending December 31, 2018, subject to shareholder approval[131]. - The largest customer accounted for 47.5% of sales, while the top five customers collectively represented 71.3% of sales[137]. - The largest supplier contributed 23.03% to procurement, with the top five suppliers accounting for 58.35%[137]. Environmental Commitment - The company is committed to reducing its environmental impact and enhancing workplace safety as part of its sustainable development efforts[182]. - The company emphasizes environmental protection and energy conservation, implementing measures to reduce greenhouse gas emissions and improve resource utilization efficiency[193]. - The energy management strategy focuses on phasing out high-pollution, high-carbon fossil fuels in favor of electricity or cleaner fuels[200]. - The company promotes clean production and pollution reduction by optimizing production processes and implementing pollution control measures[197]. - The company engages all employees in environmental protection efforts, enhancing their awareness and responsibility towards sustainability[196]. Management and Leadership - James S. Patterson has been appointed as the Executive Director since April 2009, with over 20 years of experience in global marketing and production at New Era Cap Co., Inc.[45]. - The company has a strong management team with diverse backgrounds in finance, marketing, and operations, including individuals with over 20 years of industry experience[46][56][60].