Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 606,394,000, representing an increase of 7.0% compared to HKD 566,454,000 for the same period in 2023[2] - Profit attributable to owners of the company decreased to HKD 2,460,000, down 88.7% from HKD 21,675,000 in the previous year[2] - Basic and diluted earnings per share were HKD 0.64, a decline of 88.6% from HKD 5.61 in the same period last year[4] - Gross profit for the period was HKD 172,039,000, slightly up from HKD 171,227,000, indicating a gross margin improvement[3] - Operating profit decreased significantly to HKD 7,953,000 from HKD 22,641,000, reflecting a decline of 64.8%[3] - The group reported a pre-tax profit of HKD 11,091,000 for the six months ended June 30, 2024[12] - The group's profit for the six months ended June 30, 2024, was HKD 2,460,000, compared to HKD 21,675,000 for the same period in 2023, indicating a significant decrease in profitability[21] - The group incurred a total tax expense of HKD 5,531,000 for the six months ended June 30, 2024, down from HKD 6,730,000 in the same period of 2023[15] Revenue Breakdown - The group reported total customer contract revenue of HKD 606,394,000 for the six months ended June 30, 2024, with a breakdown of HKD 419,019,000 from the original design manufacturing segment, HKD 140,262,000 from the distribution segment, and HKD 47,113,000 from the eyewear lens segment[12] - The original design manufacturing segment accounted for 69% of the group's consolidated revenue, with sales increasing by 5% to HKD 419,000,000, driven by an 80% growth in the Asian market[27] - The distribution segment's revenue grew by 8% to HKD 140,300,000, maintaining a 23% share of consolidated revenue, with a notable 37% increase in sales in Asia, particularly in mainland China[28] - The eyewear lens segment reported revenue of HKD 47,100,000, a 22% increase from HKD 38,600,000 in 2023, representing 8% of consolidated revenue[29] Assets and Liabilities - Total assets as of June 30, 2024, were HKD 1,244,634,000, compared to HKD 1,276,544,000 as of December 31, 2023[5] - Current liabilities decreased to HKD 605,095,000 from HKD 613,953,000, showing a reduction of 1.4%[5] - The company reported a net asset value of HKD 609,098,000, down from HKD 631,808,000 at the end of 2023[6] - The group’s total liabilities decreased to HKD 525,405,000 as of June 30, 2024, from HKD 569,300,000 at the end of 2023, indicating a reduction of 7.7%[23] - The group’s bank borrowings increased to HKD 52,255,000 as of June 30, 2024, compared to HKD 16,545,000 at the end of 2023, representing a 215.5% increase[24] Cash Flow and Dividends - Operating cash inflow was HKD 28,200,000, down from HKD 59,100,000 in 2023, primarily due to cash flow generated from net profit[30] - The group's cash position decreased from HKD 136,100,000 as of December 31, 2023, to HKD 72,400,000 as of June 30, 2024, mainly due to property and equipment purchases totaling HKD 73,200,000[30] - The company did not declare an interim dividend for the current period, consistent with the previous year[2] - The company declared a final dividend of HKD 5.0 per share, totaling HKD 19,313,000 for the year ended December 31, 2023, consistent with the previous year's dividend[20] Operational Insights - The company continues to focus on cost management and operational efficiency to navigate market challenges[7] - The company anticipates a challenging operating environment for the original design manufacturing sector in the eyewear industry due to pricing pressures expected to persist throughout 2024[36] - The distribution and lens segments have shown profit margin growth, indicating their increasing importance to the company's future development[36] - The company plans to enhance resources in the Asian region to establish a self-owned network or form joint ventures with strategic distribution partners[36] Employee and Governance - As of June 30, 2024, the company employed approximately 3,600 full-time employees, a slight decrease from 3,700 as of December 31, 2023[38] - The company has adhered to all applicable corporate governance codes as outlined in the Hong Kong Stock Exchange Listing Rules during the six months ending June 30, 2024[39] - The company has established a compensation committee to determine the remuneration of executive directors and senior management, ensuring alignment with corporate goals[40] Future Reporting and Compliance - The mid-term report for 2024 will be sent to shareholders in mid-September 2024 and will be available on the company's website and the Hong Kong Stock Exchange's disclosure website[43] - The audit committee has reviewed the unaudited interim results and believes they have been prepared in accordance with applicable accounting standards and requirements[42] - The company did not purchase, sell, or redeem any of its listed shares during the six months ending June 30, 2024[41] - No significant events impacting the company occurred after the financial period ending June 30, 2024, up to the date of the announcement[37] Accounting Standards - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which did not result in any retrospective adjustments to the classification of borrowings[8] - Management anticipates that the amendments to HKAS 21, effective from January 1, 2025, will not have a significant impact on the condensed consolidated financial statements[9] - The group is currently evaluating the impact of HKFRS 18, which introduces significant changes to the presentation of financial performance information in the income statement, effective from January 1, 2027[10]

Financial Performance - The group recorded a consolidated revenue increase of 5% to HKD 1,196,300,000 for the fiscal year ending December 31, 2023, compared to HKD 1,144,100,000 in 2022[4]. - The profit attributable to the company's owners decreased to HKD 51,300,000, with earnings per share at HKD 0.1329, down from HKD 114,800,000 and HKD 0.2971 in 2022[4]. - Consolidated revenue for 2023 reached HKD 1,196,309,000, representing a year-on-year increase of 4.6% from HKD 1,144,103,000 in 2022[32]. - The company reported a profit attributable to owners of HKD 51,321,000 for 2023, compared to a profit of HKD 114,773,000 in 2022, indicating a decrease of 55.3%[32]. - Gross profit for 2023 was HKD 370,989,000, up 18.6% from HKD 312,613,000 in 2022[172]. - Operating profit decreased to HKD 42,070,000 in 2023 from HKD 122,988,000 in 2022, representing a decline of 65.8%[172]. - Net profit attributable to owners of the company for 2023 was HKD 51,321,000, down 55.3% from HKD 114,773,000 in 2022[173]. - Total comprehensive income for the year amounted to HKD 61,834,000, compared to HKD 65,713,000 in the previous year, indicating a decline of about 6.4%[181]. Revenue Segmentation - The original design manufacturing segment contributed 71% of total revenue, with sales increasing by 5% to HKD 854,000,000[6]. - The distribution segment's revenue slightly increased by less than 1% to HKD 260,800,000, accounting for 22% of total revenue[7]. - The lens segment saw a significant revenue increase of 21% to HKD 81,500,000, representing 7% of total revenue[10]. - Revenue breakdown by region for 2023 shows Europe at 53%, the US at 19%, Asia at 25%, and other regions at 3%[32]. - The revenue from sunglasses accounted for 52% of total revenue, while prescription eyewear frames contributed 43% and accessories made up 5%[32]. Cash Flow and Capital Expenditures - Cash inflow from operations was HKD 68,100,000, down from HKD 99,800,000 in 2022, while capital expenditures rose to HKD 63,400,000 from HKD 26,500,000[11]. - Operating cash flow for the year was HKD 68,123,000, down from HKD 99,844,000 in the previous year, reflecting a decrease of approximately 31.9%[183]. - The company invested HKD 63,435,000 in property, plant, and equipment during the year, an increase from HKD 26,492,000 in the previous year[186]. Dividends and Shareholder Information - The board proposed a final dividend of HKD 0.05 per share, consistent with the previous year[21]. - The group reported a final dividend of HKD 0.05 per share, totaling approximately HKD 19,313,000, to be paid on June 14, 2024[46]. - The company plans to hold its annual general meeting in late April 2024, with a record date for final dividend entitlement set for June 6, 2024[25]. - The company will suspend share transfer registration from June 3 to June 6, 2024, to determine shareholder eligibility for voting and dividend rights[24]. Inventory and Receivables - Inventory and trade receivables increased by 40% and 14% respectively, aligning with the revenue growth trend[12]. - Total trade receivables amount to approximately HKD 359,677,000, with a credit loss provision of about HKD 6,067,000 as of December 31, 2023[158]. - The credit terms offered to customers range from 30 to 150 days, with management regularly assessing the recoverability of trade receivables based on various factors[158]. - The company reported a decrease in inventory provisions from HKD 4,707,000 in 2022 to HKD 2,236,000 in 2023, indicating improved inventory management[183]. Corporate Governance and Management - The management team includes experienced professionals with extensive backgrounds in the optical products sector, ensuring strategic direction and operational efficiency[34][35]. - The company has established an audit committee, a remuneration committee, and a nomination committee to enhance effective management oversight[104]. - The board consists of eight directors, with four executive directors and four independent non-executive directors, holding a total of four board meetings and one shareholders' meeting in the year ending December 31, 2023[90]. - The company encourages all directors to participate in training related to their duties and responsibilities, with various training categories attended by the directors[96]. - The independent non-executive directors, Huang Zhenwei and Zhong Xiaolan, have served for over nine years but have been confirmed to maintain their independence[99]. Compliance and Risk Management - The group has been compliant with all applicable corporate governance codes throughout the fiscal year ending December 31, 2023[88]. - The board conducted an annual review of the effectiveness of the risk management and internal control systems for the year ending December 31, 2023, considering the adequacy of resources and training for accounting and financial reporting functions[127]. - The audit committee has not identified any significant issues but noted areas for improvement in the risk management and internal control systems, with corresponding measures taken[129]. - The company has established an insider information disclosure policy to ensure timely handling and release of insider information, preventing any individual from gaining an unfair advantage in trading the company's securities[131]. Accounting Policies and Financial Reporting - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, including HKFRS 17 on insurance contracts and HKAS 8 on the definition of accounting estimates[191]. - The implementation of the new accounting policies did not have a significant impact on the financial position and performance of the group for the current and prior periods[194]. - The financial statements are prepared in Hong Kong dollars, differing from the company's functional currency, which is US dollars[188]. - The independent auditor's report confirmed that the consolidated financial statements reflect the group's financial position accurately as of December 31, 2023[144]. Employee Information - As of December 31, 2023, the group employed approximately 3,700 full-time employees, an increase from 3,500 employees as of December 31, 2022[109]. - The company aims to maintain gender diversity among employees, with a female-to-male ratio of approximately 0.79 as of December 31, 2023[113]. - The group has established a harmonious and professional work environment for its employees, emphasizing competitive compensation[77].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,196,309,000, representing an increase of 4.6% from HKD 1,144,103,000 in 2022[4] - Profit attributable to owners of the company decreased to HKD 51,321,000, down 55.3% from HKD 114,773,000 in the previous year[4] - Basic earnings per share for 2023 was HKD 0.1329, a decline of 55.3% compared to HKD 0.2971 in 2022[7] - Gross profit for the year was HKD 370,989,000, up 18.6% from HKD 312,613,000 in 2022[6] - Operating profit decreased significantly to HKD 42,070,000, down 65.8% from HKD 122,988,000 in the previous year[6] - Total comprehensive income for the year was HKD 67,596,000, compared to HKD 64,780,000 in 2022, reflecting a slight increase of 2.8%[6] - The company recorded a pre-tax profit of HKD 56,858,000 for the year, down from HKD 127,078,000 in the previous year, indicating a decline of approximately 55.2%[29] - Basic earnings per share for 2023 were HKD 0.133, a decrease from HKD 0.297 in 2022, reflecting a decline of about 55.2%[38] Revenue Breakdown - Revenue from the original design manufacturing segment was HKD 853,987,000, up from HKD 817,070,000 in 2022, indicating a growth of about 4.5%[23] - The distribution segment generated revenue of HKD 260,775,000, slightly increasing from HKD 259,765,000 in the previous year[23] - The eyewear lens segment saw revenue rise to HKD 81,547,000 from HKD 67,268,000, marking a significant increase of approximately 21.3%[23] - The original design manufacturing segment contributed 71% of total revenue, with sales increasing by 5% to HKD 854,000,000 in 2023 from HKD 817,100,000 in 2022[49] - The distribution segment's revenue slightly increased by less than 1% to HKD 260,800,000, accounting for 22% of total revenue in 2023[51] - The eyewear lens segment saw a significant revenue increase of 21% to HKD 81,500,000, representing 7% of total revenue in 2023[52] Assets and Liabilities - Non-current assets increased to HKD 529,162,000 from HKD 435,731,000, marking a growth of 21.5%[9] - Inventory levels rose to HKD 181,374,000, up 39.6% from HKD 129,898,000 in 2022[9] - Current liabilities increased to HKD 613,953,000, compared to HKD 462,816,000 in the previous year, indicating a rise of 32.6%[9] - Trade receivables from customer contracts increased to HKD 359,677,000 in 2023, up from HKD 316,549,000 in 2022, representing a growth of approximately 13.6%[39] - Trade receivables at the end of the reporting period amounted to HKD 353,610,000, up from HKD 310,226,000 in 2022[41] - Trade payables increased to HKD 155,388,000 in 2023 from HKD 116,857,000 in 2022[42] Dividends - The company declared a final dividend of HKD 0.05 per share, unchanged from the previous year[4] - The company proposed a final dividend of HKD 0.05 per share for 2023, subject to shareholder approval[37] - The company plans to pay a final dividend of HKD 0.05 per share for the fiscal year ending December 31, 2023, consistent with the previous year[45] Accounting Policies and Adjustments - The company recognized cumulative adjustments in long service payment obligations due to changes in accounting policies, but these did not have a significant impact on financial performance[21] - The company has implemented new accounting policies regarding the offsetting mechanism for mandatory provident fund contributions, effective from May 1, 2025[19] - The company continues to assess the impact of accounting policy changes on its financial statements, ensuring compliance with updated standards[18] Other Financial Metrics - The net foreign exchange loss for 2023 was HKD 13,521,000, a significant decline from a net gain of HKD 30,154,000 in 2022[25] - Total employee costs for the year amounted to HKD 437,341,000, slightly down from HKD 441,798,000 in 2022[35] - The company recognized an impairment loss of HKD 284,000 on intangible assets in 2023, compared to no impairment in 2022[29] - The total unallocated income and gains for the year were HKD 6,769,000, while unallocated corporate expenses and losses amounted to HKD 69,208,000[28] - The group's net cash inflow for 2023 was HKD 68.1 million, down from HKD 99.8 million in 2022[53] - Capital expenditures increased significantly to HKD 63.4 million in 2023, compared to HKD 26.5 million in 2022, due to investments in optical lens production and factory expansion in Vietnam[53] - The current ratio decreased from 1.4 as of December 31, 2022, to 1.2 as of December 31, 2023[54] - The debt-to-equity ratio slightly increased from 4% to 6% during the same period[55] - The net asset value per share rose to HKD 1.40 as of December 31, 2023, up from HKD 1.34 a year earlier[56] Business Development and Strategy - The company launched the AMOS online ordering system for eyewear in November 2023, aimed at boosting growth in the distribution and lens segments[62] - The company anticipates continued pressure on gross margins due to rising labor costs in the design and manufacturing sector, expected to align with GDP growth rates in China[63] - The company has approximately three months of sales orders on hand, indicating a stable order book despite a challenging business environment[60] - A construction contract worth RMB 67.3 million (approximately HKD 73.3 million) was signed for a new factory in Huizhou, Guangdong, on February 6, 2024[64]

智通财经APP讯，雅视光学(01120)发布公告，集团预期公司拥有人应占纯利将取得大幅减少，预计其于截至2023年12月31日止年度将会于4000万港元至6000万港元之间，而截至2022年12月31日止年度则取得公司拥有人应占综合盈利约1.15亿港元。 公告称，公司拥有人应占纯利减少的原因乃主要由于以下事项：于截至2022年12月31日止年度取得出售物业的相关收益净额5880万港元，而于截至2023年12月31日止年度并未取得此项收益净额;及由于2022年度人民币兑美元贬值，故于截至2022年12月31日止年度取得重大外汇收益净额3020万港元，而由于2023年度人民币兑美元汇率保持相对稳定，故于截至2023年12月31日止年度不太可能取得此项收益净额。 ...

智通财经APP讯，雅视光学(01120)发布公告，于2024年2月6日(交易时段后)，雅骏眼镜(公司的间接全资附属公司)与承包商广东百年丰泽建筑工程有限公司订立建设工程施工合同，据此，承包商获委任为承包商，负责按合同价(可予调整(如有))建设及兴建位于施工区域的厂房及配套设施。 公告称，为促进集团业务策略的实施，为客户通过线上订单处理系统购买眼镜架及眼镜片提供一站式解决方案，董事认为，现有制造设施不适合新业务，其需要庞大的客户服务团队为分销商及终端客户提供支持。此外，该项目提供可容纳一组全自动眼镜片制造线，以满足集团未来业务增长所带来的华南地区客户需求。 ...

Financial Performance - The group's consolidated revenue slightly decreased by 2% to HKD 566.4 million for the six months ended June 30, 2023, compared to HKD 580.1 million in 2022[5]. - Net profit attributable to the company's owners was HKD 21.7 million, down from HKD 28.5 million in the same period last year, with earnings per share of HKD 0.0561 compared to HKD 0.0737 in 2022[5]. - For the six months ended June 30, 2023, the company's revenue was HKD 566,454,000, a decrease of 2.6% compared to HKD 580,057,000 in the same period of 2022[27]. - Gross profit for the same period was HKD 171,227,000, representing a 6.4% increase from HKD 160,611,000 year-on-year[27]. - Operating profit decreased to HKD 22,641,000, down 30.8% from HKD 32,704,000 in the previous year[27]. - The company reported a net profit of HKD 24,497,000, a decline of 21.1% compared to HKD 31,013,000 in the prior year[27]. - The group reported a profit of 21,675,000 HKD for the six months ended June 30, 2023, compared to 28,466,000 HKD for the same period in 2022, reflecting a decrease of approximately 23.8%[79]. Revenue Segmentation - The original design manufacturing segment accounted for 70% of total revenue, with sales decreasing by 5% to HKD 398.1 million due to high inflation and weakened consumer confidence in Europe and the US[6]. - The distribution segment's revenue increased by 2% to HKD 129.7 million, representing 23% of total revenue, with significant growth in Europe, particularly in the UK and Italy[9]. - The lens segment's revenue rose by 11% to HKD 38.6 million, accounting for 7% of total revenue, driven by the gradual end of the dynamic zero-COVID policy in mainland China[10]. - The original design manufacturing segment generated revenue of HKD 398,115,000, down from HKD 418,248,000 in the previous year, reflecting a decrease of about 4.8%[67]. - The distribution segment's revenue was HKD 129,730,000, slightly lower than HKD 127,028,000 in the prior year, indicating a marginal increase of 2.1%[67]. Cash Flow and Assets - Operating cash inflow was HKD 59.1 million, up from HKD 51.4 million in 2022, while cash and cash equivalents decreased to HKD 173.4 million from HKD 184.8 million due to dividend payments[11]. - Total assets as of June 30, 2023, were HKD 1,287,249,000, an increase from HKD 1,091,157,000 at the end of 2022[34]. - The net cash generated from operating activities for the six months ended June 30, 2023, was HKD 59,145,000, an increase of 15% compared to HKD 51,418,000 in the same period of 2022[42]. - Cash and cash equivalents decreased by HKD 14,937,000 during the period, resulting in a closing balance of HKD 176,107,000[44]. - The company incurred a net cash outflow from investing activities of HKD 28,929,000, compared to HKD 5,930,000 in the previous year[44]. Inventory and Receivables - Inventory and trade receivables increased by 5% to HKD 136.6 million and HKD 327.2 million, respectively, reflecting disruptions in production and transportation in mainland China[13]. - The company's inventory increased to HKD 136,616,000 from HKD 129,898,000 at the end of 2022[34]. - As of June 30, 2023, the group's trade receivables amounted to HKD 327,028,000, an increase from HKD 310,226,000 as of December 31, 2022, representing a growth of approximately 5.8%[89]. Liabilities and Equity - The debt-to-equity ratio remained low at approximately 5% as of June 30, 2023, compared to 4% at the end of 2022[14]. - The company's total equity as of June 30, 2023, was HKD 603,720,000, compared to HKD 544,797,000 as of June 30, 2022, reflecting an increase of approximately 10.8%[39]. - The company's total liabilities decreased from HKD 86,732,000 as of January 1, 2023, to HKD 89,023,000 as of June 30, 2023, reflecting a slight increase[39]. - The group’s total liabilities, including trade payables and other payables, amounted to HKD 467,072,000 as of June 30, 2023, compared to HKD 429,355,000 as of December 31, 2022[93]. Dividends and Shareholder Information - The company paid dividends of HKD 38,626,000 to its shareholders during the period, which was the first dividend payment recorded[44]. - The group paid a total dividend of 38,626,000 HKD for the year-end dividend and special dividend, with a payout of 5.0 HKD per share, compared to no dividends in the previous year[78]. - Major shareholders include HSBC International Trustee Limited, holding approximately 39.77% of the issued share capital[113]. Management and Governance - The company appointed a new CEO, Wu Yishan, on June 8, 2023[120]. - The board of directors includes independent non-executive directors Huang Zhenwei, Zhong Xiaolan, Lin Yulong, and Fang Jianqiao, all appointed on June 8, 2023[120]. - The company has established a remuneration committee since 2003 to determine the compensation of executive directors and senior management[118]. - The nomination committee was formed in 2012 to review the board's structure and propose new director appointments[118]. - The company has complied with all applicable code provisions of the corporate governance code during the six months ended June 30, 2023[115]. Investment and Acquisitions - The group reported capital expenditures for subsidiary investments of HKD 91,306,000, up from HKD 89,103,000 in the previous year[102]. - The group’s investment in construction projects increased significantly to HKD 44,760,000 from HKD 1,191,000 in the previous year[102]. - The group acquired property, plant, and equipment amounting to approximately 10,993,000 HKD during the period, compared to 16,578,000 HKD in the same period last year, showing a decrease of about 33.8%[84]. Fair Value Measurements - The fair value of financial assets and liabilities as of June 30, 2023, is reported at HKD 88,732,000, a decrease from HKD 95,039,000 as of December 31, 2022, representing a decline of approximately 6.8%[54]. - The company reported a loss of HKD 700,000 from the fair value measurement of investment properties during the reporting period[58]. - The company utilized Level 3 inputs for fair value measurement, including market rental rates and discount rates based on comparable entities[63]. - The total fair value of financial assets classified under Level 3 as of June 30, 2023, includes HKD 7,413,000 in financial assets and HKD 81,319,000 in investment properties[54]. Other Notable Information - The company is registered in Bermuda and has its main operational office in Kowloon, Hong Kong[120]. - The main banking partners include Bank of China (Hong Kong), Dah Sing Bank, Hang Seng Bank, and Bank of East Asia[120]. - The company’s auditor is RSM Hong Kong, a registered public interest entity auditor[120]. - The company’s website is www.artsgroup.com, providing further information on its operations[120].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ARTS OPTICAL INTERNATIONAL HOLDINGS LIMITED 雅 視 光 學 集 團 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：1120） 中期業績 截至2023年6月30日止六個月 中期業績 雅視光學集團有限公司（「本公司」）董事會（「董事會」）謹此宣布本公司及其附屬 公司（統稱「本集團」）截至2023年6月30日止六個月之未經審核簡明綜合業績，連 同2022年同期之比較數字。 財務摘要 截至下列日期止六個月 30.6.2023 30.6.2022 收入 566,454,000港元 580,057,000港元 ...

Revenue and Sales Performance - In 2022, the revenue from the original design manufacturing segment accounted for 71% of the group's total revenue, down from 75% in 2021, with sales decreasing by 5% to HKD 817.1 million[10]. - The group recorded a slight decrease in consolidated revenue of 1% to HKD 1,144,100,000 for the fiscal year ended December 31, 2022, compared to HKD 1,152,900,000 in 2021[29]. - The distribution segment's revenue increased by 11% to HKD 259,700,000, accounting for 23% of the group's consolidated revenue in 2022, up from 20% in 2021[32]. - Sales in Europe, the US, Asia, and other regions represented 60%, 24%, 14%, and 2% of the original design manufacturing revenue, respectively, with Asia seeing a 27% increase in sales[10]. - Sales in Europe, the largest market for the distribution segment, increased by 5%, while sales in Asia and other regions grew by 31% and 42%, respectively[32]. Profitability and Cash Flow - Profit attributable to the company's owners significantly improved to HKD 114,800,000, with earnings per share at HKD 0.2971, compared to HKD 20,700,000 and HKD 0.0536 in 2021[29]. - The group recorded a net cash inflow of HKD 99.8 million, a significant improvement from a cash outflow of HKD 44.8 million in 2021, primarily due to increased profitability[23]. - The cash position increased from HKD 75 million to HKD 184.8 million, reflecting a net increase of HKD 109.8 million[23]. - The company reported a retained earnings of HKD 105,369,000 for 2022, compared to HKD 21,127,000 in 2021, indicating a significant increase[73]. Inventory and Receivables Management - The inventory balance decreased by 28% to HKD 129.9 million, while trade receivables slightly decreased by 0.3% to HKD 310.5 million, consistent with the revenue decline trend[13]. - The current ratio improved from 1.2 in 2021 to 1.4 in 2022, indicating better liquidity management[13]. Market and Strategic Developments - The eyewear segment generated revenue of HKD 67.3 million, representing 6% of the group's total revenue, up from 5% in 2021, with plans to expand this business into other regions[22]. - The group plans to gradually expand its eyewear lens business beyond Asia, indicating a strategic focus on market expansion[22]. - The group anticipates challenges in the eyewear industry due to global trade tensions and geopolitical uncertainties, with a forecast of weak global economic growth in 2023[58]. - The group expects a moderate decline in gross margin for the original design manufacturing segment due to the appreciation of the RMB since November 2022[58]. - The group will continue to seek opportunities by strengthening its distribution network and establishing various e-commerce channels to enhance contributions from the eyewear lens and distribution segments[58]. Shareholder Returns and Dividends - The group plans to pay a final dividend of HKD 0.050 per share and a special dividend of HKD 0.050 per share, totaling approximately HKD 38,626,000, subject to shareholder approval[55]. - The board considers the group's profitability, financial condition, investment needs, and future prospects when determining dividend recommendations[168]. - The company does not guarantee the declaration of dividends in any year, and if declared, the amount is not assured[169]. Corporate Governance and Management - The company has established a two-year lease agreement with a company controlled by the executive director, with right-of-use assets and lease liabilities recognized at HKD 2,600,000 each[76]. - The company’s CEO, Ms. Wu, has been with the group since 2002 and was appointed CEO in 2021, focusing on business strategy and management[69]. - The company has implemented a shareholder communication policy since 2012 to ensure shareholders receive comprehensive and accessible information in a timely manner[198]. - The board consists of five directors, including two executive directors and three independent non-executive directors[136]. - The company has arranged appropriate directors and officers liability insurance for its directors and senior management[102]. Employee and Social Responsibility - The company emphasizes the importance of employees as key assets and provides a harmonious and safe working environment[112]. - The company is committed to maintaining gender diversity among its employees, with a female-to-male ratio of approximately 0.79 as of December 31, 2022[163]. - The group is committed to long-term sustainable development and actively promotes material conservation and environmental protection[126]. Risk Management and Compliance - The audit committee has reviewed the annual accounts and financial reporting matters, including whistleblower reports and pending litigation and compliance matters[175]. - The company has no internal audit function currently, and the board has been reviewing the effectiveness of the group's risk management and internal control systems with the assistance of external consultants since 2006[176]. - The board has reviewed the effectiveness of the group's risk management and internal control systems for the year ending December 31, 2022[173]. - The company has established an insider information disclosure policy to ensure timely handling and release of insider information, preventing any individual from having an advantage in trading the company's listed securities[177].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 ARTS OPTICAL INTERNATIONAL HOLDINGS LIMITED 雅 視 光 學 集 團 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：1120） 截至2022年12月31日止年度 全年業績 及 建議採納新公司細則 全年業績 雅視光學集團有限公司（「本公司」）董事會（「董事會」）謹此宣布本公司及其附屬 公司（統稱「本集團」）截至2022年12月31日止年度之經審核綜合業績，連同去年之 比較數字。 財務摘要 2022年 2021年 收入 1,144,103,000港元 1,152,941,000港元 ...

Financial Performance - The group's consolidated revenue increased by 10% to HKD 580.1 million for the six months ended June 30, 2022, compared to HKD 529.1 million in 2021[8]. - The group recorded a profit attributable to owners of HKD 28.5 million, with earnings per share of HKD 0.0737, a significant recovery from a loss of HKD 5.6 million and a loss per share of HKD 0.0145 in 2021[8]. - The group reported revenue of HKD 580,057,000 for the six months ended June 30, 2022, compared to HKD 529,073,000 for the same period in 2021, representing a growth of approximately 9.6%[32]. - The net profit for the six months ended June 30, 2022, was HKD 31,013,000, a significant recovery from a loss of HKD 2,533,000 in the previous year[33]. - The group achieved a total profit of HKD 36,080,000 for the six months ended June 30, 2022, compared to HKD 13,700,000 for the same period in 2021, indicating a significant increase of approximately 163.1%[73]. Revenue Segmentation - The original design manufacturing segment accounted for 72% of total revenue, with sales increasing by 4% to HKD 418.3 million[10]. - The distribution segment's revenue rose by 17% to HKD 127 million, representing 22% of total revenue, with significant growth in emerging markets[13]. - The lens segment generated revenue of HKD 34.8 million, up from HKD 18.6 million, contributing 6% to total revenue[14]. - The group’s revenue from external customers in Europe was HKD 336,186,000 for the six months ended June 30, 2022, compared to HKD 324,785,000 for the same period in 2021, reflecting a growth of approximately 3.9%[73]. - The group’s revenue from the eyewear lens segment was HKD 34,781,000 for the six months ended June 30, 2022, compared to HKD 18,569,000 for the same period in 2021, representing an increase of approximately 87.5%[73]. Cash Flow and Financial Position - Operating cash inflow was HKD 51.4 million, a turnaround from an outflow of HKD 36.1 million in 2021, bolstered by property sales and equity investments[15]. - The group's cash position improved, with net cash increasing from HKD 75 million at the end of 2021 to HKD 104.5 million by June 30, 2022[15]. - The company reported a net cash inflow from operating activities of HKD 51,418,000 for the six months ended June 30, 2022, compared to a net outflow of HKD 36,126,000 for the same period in 2021[43]. - The company reported a significant decrease in cash and cash equivalents, ending the period with HKD 144,493,000, down from HKD 149,152,000 at the end of 2021[43]. Assets and Liabilities - The total assets less current liabilities as of June 30, 2022, were HKD 569,269,000, compared to HKD 565,368,000 as of December 31, 2021[36]. - As of June 30, 2022, the company's net assets amounted to HKD 544,797,000, a slight increase from HKD 540,332,000 as of December 31, 2021, representing a growth of approximately 0.86%[37]. - The total equity attributable to the owners of the company was HKD 460,034,000 as of June 30, 2022, compared to HKD 453,633,000 at the end of 2021, reflecting an increase of about 1.0%[40]. - The company’s total liabilities decreased slightly to HKD 24,472,000 from HKD 25,036,000, a reduction of about 2.26%[37]. - The company’s retained earnings as of June 30, 2022, were HKD 198,847,000, showing an increase from HKD 170,381,000 at the beginning of the year, which is an increase of approximately 16.7%[40]. Investments and Acquisitions - The group acquired a 55% stake in Wucai Silai Optical Technology for a total consideration of approximately HKD 56,542,000, with an additional cash injection of approximately HKD 12,160,000 planned[121]. - The goodwill generated from the acquisition of Wucai Silai amounted to HKD 20,031,000, attributed to expected profitability from new market distribution and anticipated operational synergies[131]. - The total cash outflow for the acquisition of Wucai Silai was HKD 28,271,000 after accounting for the payable amount in the second half of 2021[128]. Shareholder Information - As of June 30, 2022, the total shares held by the directors and senior executives amounted to 176,112,000, representing approximately 45.59% of the issued share capital[139]. - The major shareholder, HSBC International Trustee Limited, holds 153,600,000 shares, which is about 39.77% of the issued share capital[143]. - The beneficial owner Wu Zhihong holds 19,656,000 shares, representing approximately 5.09% of the issued share capital[143]. - The total number of shares held by Wu Jianying is 28,126,347, which accounts for approximately 7.28% of the issued share capital[139]. Corporate Governance - The company has complied with all applicable provisions of the corporate governance code as per the listing rules during the six months ending June 30, 2022[146]. - The Audit Committee, established in 1998, reviewed the interim report for the six months ending June 30, 2022, ensuring compliance with applicable accounting standards[146]. - The Compensation Committee, formed in 2003, is responsible for determining the remuneration of executive directors and senior management[146]. - The company has established a Nomination Committee to review the board's structure and propose recommendations for director appointments[147]. Employee Information - The group employed approximately 3,600 full-time employees as of June 30, 2022, a slight decrease from 3,700 employees as of December 31, 2021[29]. - The remuneration for key management personnel for the six months ended June 30, 2022, was HKD 5,892,000, a decrease from HKD 6,507,000 in the same period of 2021, reflecting a reduction of approximately 9.4%[120].