Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 2,489,078 thousand, a decrease of 12.4% compared to HKD 2,841,692 thousand in the same period of 2022[2] - Gross profit increased to HKD 576,567 thousand, representing a 16.3% increase from HKD 495,692 thousand year-on-year[2] - Operating profit rose significantly to HKD 420,621 thousand, up 59.4% from HKD 263,916 thousand in the previous year[2] - Profit for the period was HKD 333,848 thousand, an increase of 65.5% compared to HKD 201,524 thousand in the same period of 2022[3] - Basic and diluted earnings per share increased to HKD 0.493, compared to HKD 0.298 in the previous year, reflecting a growth of 65.5%[2] - The company reported a total comprehensive income of HKD 327,650 thousand for the period, compared to HKD 202,416 thousand in the previous year[4] - The group’s adjusted profit before interest, tax, depreciation, and amortization (EBITDA) for the six months ended June 30, 2023, was HKD 510,817 thousand, an increase of 30.6% from HKD 390,917 thousand in 2022[15] - Reported segment profit for the six months ended June 30, 2023, was HKD 510,817,000, an increase of 30.7% from HKD 390,917,000 in 2022[16] - The consolidated profit before tax for the six months ended June 30, 2023, was HKD 416,177,000, compared to HKD 259,508,000 in 2022, marking a growth of 60.4%[16] - Total tax expenses for the period were HKD 82,329,000, an increase from HKD 57,984,000 in the previous year, representing a rise of 42.0%[19] Revenue Breakdown - Revenue from plush toys increased significantly to HKD 1,239,913 thousand in 2023 from HKD 850,863 thousand in 2022, representing a growth of 45.7%[13] - Revenue from plastic model kits decreased to HKD 911,871 thousand in 2023 from HKD 1,577,166 thousand in 2022, a decline of 42.0%[13] - Revenue from North America decreased to HKD 1,194,381 thousand in 2023 from HKD 1,953,068 thousand in 2022, a decline of 38.9%[14] - Revenue from Japan increased to HKD 654,266 thousand in 2023 from HKD 446,301 thousand in 2022, representing a growth of 46.6%[14] - The plush toy segment saw a revenue increase of 45.7% to HKD 1,239,900,000, accounting for 49.8% of total revenue[34] - The plastic model segment's revenue decreased to HKD 911,900,000, down from HKD 1,577,200,000, representing 36.6% of total revenue[35] - The waterproof cover segment reported revenue of HKD 242,100,000, a decline of 20.3% from HKD 303,900,000, making up 9.7% of total revenue[36] Assets and Liabilities - Total assets less current liabilities amounted to HKD 3,371,667 thousand, an increase from HKD 3,257,923 thousand as of December 31, 2022[5] - Non-current assets were valued at HKD 1,440,902 thousand, a slight decrease from HKD 1,484,800 thousand at the end of 2022[5] - Current liabilities decreased to HKD 1,003,162 thousand from HKD 1,126,744 thousand, indicating improved liquidity[5] - Reportable segment assets totaled HKD 3,862,718 thousand as of June 30, 2023, compared to HKD 3,740,386 thousand as of December 31, 2022, reflecting an increase of 3.3%[15] - The group’s reportable segment liabilities increased to HKD 1,349,675 thousand as of June 30, 2023, from HKD 1,222,165 thousand as of December 31, 2022, indicating a rise of 10.4%[15] Dividends and Shareholder Returns - The interim dividend declared was HKD 135,373,000, up from HKD 67,687,000 in the previous year, reflecting an increase of 100%[21] - The board declared an interim dividend of HKD 0.20 per share for the six months ended June 30, 2023, up from HKD 0.10 per share for the same period last year, totaling HKD 135.373 million compared to HKD 67.687 million previously[46] Operational Insights - The company continues to focus on the design, development, manufacturing, and sales of plastic models and plush toys, indicating ongoing commitment to core business activities[8] - The average utilization rate of the company's 27 factories was approximately 87% as of June 30, 2023[39] - The group is focusing on increasing automation levels to enhance overall production efficiency and is analyzing production activities to strengthen capabilities and expedite delivery times[40] - The group plans to continue diversifying its business and improving capacity and efficiency to seize potential market opportunities[40] - The group is committed to sustainable development and will integrate sustainability elements into products while regularly assessing the effectiveness of related measures[40] Financial Position - The company maintained a strong financial position with cash and cash equivalents totaling HKD 845,900,000 as of June 30, 2023, compared to HKD 761,600,000 at the end of 2022[34] - The total accounts receivable as of June 30, 2023, was HKD 891,215,000, a decrease from HKD 946,892,000 at the end of 2022, representing a decline of 5.9%[31] - The company recorded inventory write-downs of HKD 7,569,000 for the six months ended June 30, 2023, compared to HKD 8,852,000 in 2022, showing a decrease of 14.5%[29] - The group’s net current assets as of June 30, 2023, were HKD 1,930.8 million, an increase from HKD 1,773.1 million on December 31, 2022[42] - The total cash and cash equivalents as of June 30, 2023, were HKD 661.3 million, slightly down from HKD 669.3 million on December 31, 2022[42] - The group maintained a capital debt ratio of 5.2% as of June 30, 2023, compared to 6.0% on December 31, 2022[42] Risk Management - The group has maintained a prudent approach to foreign exchange risk management, primarily financing non-HKD assets with local currency liabilities[42] - The group has pledged assets totaling HKD 189.1 million as collateral for bank loans amounting to HKD 172.8 million as of June 30, 2023[43] Governance and Reporting - The mid-term report for the six months ending June 30, 2023, has been published and is available on the company's website and the Hong Kong Stock Exchange website[48] - The board of directors includes key executives such as the chairman and independent non-executive directors, indicating a diverse leadership structure[49]

Financial Performance - Revenue increased by 30.3% to HKD 6,252,900,000, marking a historical high compared to HKD 4,799,800,000 in the previous year[15] - Gross profit surged to HKD 1,228,900,000 with a gross margin of 19.7%, up from HKD 614,700,000 and 12.8% respectively[15] - Net profit attributable to shareholders skyrocketed by 254.9% to HKD 687,100,000, with a net profit margin of 11.0% compared to 4.0% in the previous year[15] - Cash and cash equivalents, along with bank deposits, reached HKD 761,600,000, an increase from HKD 601,200,000 in the previous year[15] - The company plans to pay a final dividend of HKD 0.30 per share, up from HKD 0.10 per share in the previous year[15] - The total distributable reserves available for shareholders as of December 31, 2022, were HKD 1,260.61 million, up from HKD 1,155.71 million in the previous year[70] - The company reported a mid-term dividend of HKD 0.10 per share, an increase from HKD 0.02 per share in the previous year[61] - The board proposed a final dividend of HKD 0.30 per share for the year ended December 31, 2022, compared to HKD 0.10 per share in the previous year, totaling HKD 203.06 million[62][70] Market and Operational Insights - Strong order inflow from the Chinese market significantly contributed to revenue growth, alongside recovery in the US and parts of Asia[14] - Production capacity has been expanded in China and Vietnam, enhancing operational flexibility and economies of scale[7] - The plastic model division remains the main growth driver, with sales increasing by 21.4% to approximately HKD 3,232,900,000, accounting for 51.7% of total revenue[16] - The plush toy division's revenue rose by 62.6% to approximately HKD 2,287,800,000, representing 36.6% of total revenue, driven by strong orders from theme parks in the US, Japan, and China[17] - The waterproof cover division recorded sales of approximately HKD 485,900,000, a year-on-year increase of 3.0%, contributing 7.8% to total revenue[20] - The injection molding products division maintained revenue of approximately HKD 246,300,000, with efforts to expand into US and European markets[21] - North America remains the largest regional market, accounting for 60.7% of total revenue, followed by Japan at 17.8%, China at 14.4%, and Europe at 4.3%[22] - The company operates 27 factories with an average utilization rate of about 80%, and four new factories commenced operations during the year[23] Challenges and Strategic Focus - The company continues to face challenges from rising raw material costs and geopolitical tensions, but remains cautiously optimistic about future prospects[6] - Ongoing production line adjustments and cost control measures are deemed essential for maintaining competitive advantage[10] - The company faces ongoing challenges from global economic conditions, fluctuating raw material prices, and rising operational costs, prompting a dual strategy to expand business scale and improve revenue[35] - The company is actively seeking partnerships with competitively priced quality product manufacturers to reduce manufacturing costs amid economic uncertainties[35] - The company remains cautiously optimistic about future performance, focusing on expanding its customer base and enhancing production efficiency while implementing strict cost control measures[24] Sustainability and Corporate Responsibility - The company is focusing on sustainable development by integrating sustainable materials into its products in response to rising demand[10] - The company is committed to sustainability, collaborating with supply chain partners to use renewable materials in new product launches[27] - The company is committed to sustainable development and integrates corporate social responsibility into daily operations, providing ongoing training for employees[41] - The company aims to minimize environmental impact through resource efficiency measures, particularly in energy and water usage[180] - The company has received multiple certifications for social compliance standards, including ICTI Care Program and Disney International Labor Standards[174] - Stakeholder engagement is emphasized to assess the importance of environmental, social, and governance issues, with a focus on child labor, health and safety, and employee welfare[178] Governance and Compliance - The company emphasizes the importance of compliance with laws and regulations, which is crucial for uninterrupted business operations[36] - The board emphasizes the importance of good corporate governance for the company's success, adhering to the corporate governance code[106] - The audit committee has reviewed the accounting policies and discussed risk management and internal control systems for the year ending December 31, 2022[102] - The company has adopted written guidelines for securities trading by employees, ensuring compliance with the standard code[111] - The board consists of four executive directors and three independent non-executive directors, with no significant relationships among them[108] - The company has retained a company secretary to ensure compliance and effective governance practices[155] Risk Management - The company has adopted a "three lines of defense" model for risk management, ensuring effective oversight by the board[148] - The risk management committee collaborates closely with operational units and senior management to improve the risk management system, including increasing training sessions and workshops[149] - The internal control system is deemed sufficient and effective, with no significant concerns affecting the company's financial condition or operational performance reported by the board[150] - The company is committed to maintaining adequate resources for effective risk management and internal control systems, including staff qualifications and training[135] Diversity and Inclusion - As of December 31, 2022, the proportion of female directors was 14%, and the proportion of female directors and senior management was 25%[140] - 87% of the total employees are female, indicating a strong commitment to diversity within the workforce[140] - The company has not set measurable targets for diversity but continues to strive for increased representation of women in leadership roles[140] Shareholder Communication - The company emphasizes effective communication with shareholders, ensuring ongoing dialogue and transparency regarding its operations[156] - The company has implemented various channels for shareholder communication, including annual general meetings and regular announcements through the Hong Kong Stock Exchange[159] - The board has confirmed the continued effectiveness of the shareholder communication policy as of December 31, 2022[156]

Financial Performance - Revenue for the year ended December 31, 2022, was HKD 6,252,874 thousand, representing a 30.3% increase from HKD 4,799,785 thousand in 2021[2] - Gross profit for the same period was HKD 1,228,876 thousand, up 99.9% from HKD 614,716 thousand in the previous year[2] - Operating profit increased significantly to HKD 842,451 thousand, compared to HKD 273,782 thousand in 2021, marking a growth of 208.5%[2] - Net profit for the year was HKD 687,096 thousand, a substantial rise of 254.5% from HKD 193,562 thousand in 2021[2] - Basic and diluted earnings per share rose to HKD 101.51 cents, compared to HKD 28.60 cents in the previous year[2] - Total comprehensive income for the year was HKD 666,641 thousand, compared to HKD 195,100 thousand in 2021, reflecting a growth of 241.5%[4] Revenue Breakdown - Revenue from the plastic model segment was HKD 3,232,899 thousand in 2022, up 21.4% from HKD 2,663,618 thousand in 2021[18] - The plush toy segment generated revenue of HKD 2,287,828 thousand in 2022, representing a 62.5% increase from HKD 1,407,235 thousand in 2021[18] - North America contributed HKD 3,794,341 thousand to total revenue in 2022, an increase of 11.6% from HKD 3,398,660 thousand in 2021[15] - Revenue from Japan surged to HKD 1,115,211 thousand in 2022, a substantial increase of 127.5% compared to HKD 490,088 thousand in 2021[15] - The plastic model division generated sales of approximately HKD 3,232,900,000, a 21.4% increase, accounting for 51.7% of total revenue[38] - The plush toy division's revenue increased by 62.6% to approximately HKD 2,287,800,000, representing 36.6% of total revenue[39] - The waterproof cover division recorded sales of approximately HKD 485,900,000, a 3.0% increase, contributing 7.8% to total revenue[40] - The injection molding products division maintained revenue of approximately HKD 246,300,000, accounting for 3.9% of total revenue[41] Assets and Liabilities - Current assets totaled HKD 2,899,867 thousand, an increase from HKD 2,737,679 thousand in 2021[6] - Total equity increased to HKD 3,205,487 thousand from HKD 2,674,220 thousand in the previous year, indicating a growth of 19.8%[7] - The company’s total assets increased to HKD 4,384,667 thousand in 2022, compared to HKD 4,199,414 thousand in 2021[19] - Total liabilities decreased from HKD 1,525,194,000 in 2021 to HKD 1,179,180,000 in 2022, a reduction of approximately 22.7%[20] Employee and Costs - Employee costs increased from HKD 1,320,328,000 in 2021 to HKD 1,476,078,000 in 2022, representing a rise of about 11.8%[22] - Total employee costs for the year amounted to HKD 1,476,100,000, up from HKD 1,320,300,000 in the previous year[45] Dividends and Shareholder Information - The company plans to pay a final dividend of HKD 0.30 per share, up from HKD 0.10 per share in the previous year, totaling HKD 203,060,000[11] - Proposed final dividend is HKD 0.30 per share, totaling HKD 203,060,000, compared to HKD 0.10 per share and HKD 67,687,000 in the previous year[52] - The proposed final dividend is subject to approval at the annual general meeting[53] Strategic Outlook - The company plans to continue expanding its market presence in North America and Japan, leveraging the strong revenue growth in these regions[15] - The group continues to strengthen partnerships with competitive suppliers to manage raw material costs and price fluctuations[44] - The group emphasizes sustainable development by collaborating with supply chain partners to use renewable materials in new products[44] - The group maintains a cautious outlook due to geopolitical and economic uncertainties but remains optimistic about business performance[44] - The group is focused on strict cost control measures and enhancing production efficiency to sustain profitability[44] Audit and Governance - The audit committee has reviewed the accounting policies and discussed risk management and internal control systems[54] - The annual performance for the year ending December 31, 2022, was reviewed by the audit committee[54] - The board of directors includes executive directors and independent non-executive directors[55][56]

Financial Performance - Total revenue increased by 45.0% to HKD 2,841,700,000 for the six months ended June 30, 2022, compared to HKD 1,959,500,000 for the same period in 2021[3] - Gross profit rose by 97.8% to HKD 495,700,000, with a gross margin of 17.4%, up from 12.8% in the previous year[3] - Net profit attributable to equity holders surged threefold to HKD 201,500,000, resulting in a net margin of 7.1%, compared to 2.3% in the prior year[3] - The operating profit increased to HKD 263,916,000, compared to HKD 76,950,000 in the previous year, reflecting a growth of 243%[34] - Profit before tax reached HKD 259,508,000, a substantial rise from HKD 73,641,000, marking an increase of 252%[34] - The net profit for the period was HKD 201,524,000, compared to HKD 45,392,000 in the prior year, showing a growth of 344%[34] - Basic and diluted earnings per share were HKD 0.298, significantly higher than HKD 0.067 from the previous year[34] Revenue Breakdown - The plastic model division, the main growth driver, saw sales increase by 52.9% to approximately HKD 1,577,200,000, accounting for 55.5% of total revenue[4] - The plush toy division's revenue grew by 52.8% to HKD 850,900,000, representing 29.9% of total revenue[5] - The waterproof cover division generated revenue of approximately HKD 303,900,000, with a year-on-year increase of 9.9%, contributing 10.7% to total revenue[6] - Revenue from plastic hand models was HKD 1,577,166 thousand, up from HKD 1,031,407 thousand in the previous year, representing a growth of 53%[49] - Revenue from North America reached HKD 1,953,068 thousand, a 33.5% increase from HKD 1,464,417 thousand in the prior year[49] - Revenue from Japan increased significantly to HKD 446,301 thousand, compared to HKD 197,947 thousand, marking a growth of 125%[49] Regional Performance - North America remained the largest regional market, accounting for 68.7% of total revenue, followed by Japan at 15.7%[8] Production and Operations - The company operated 27 factories as of June 30, 2022, with new facilities in both Vietnam and mainland China enhancing production capacity[9] - The company plans to continue optimizing production processes to improve efficiency and meet strong customer demand with the new factories[11] Employee and Talent Management - Employee count increased to 28,666 as of June 30, 2022, up from 25,841 at the end of 2021, reflecting the company's commitment to talent retention[12] Financial Position - As of June 30, 2022, the group's net current assets amounted to HKD 1,341,300,000, an increase from HKD 1,243,300,000 as of December 31, 2021[13] - The total cash and cash equivalents as of June 30, 2022, were HKD 343,000,000, down from HKD 383,000,000 as of December 31, 2021[13] - The total bank loans increased to HKD 412,300,000 as of June 30, 2022, compared to HKD 262,500,000 as of December 31, 2021[13] - The capital debt ratio, calculated as total bank loans divided by total equity, was 14.7% as of June 30, 2022, up from 9.8% as of December 31, 2021[14] - The total equity increased to HKD 2,808,949 thousand, up from HKD 2,674,220 thousand, showing a growth of 5.0%[40] Dividends - The interim dividend declared for the six months ended June 30, 2022, was HKD 0.10 per share, significantly higher than HKD 0.02 per share for the same period in 2021[17] - The total interim dividend amounted to HKD 67,687,000, compared to HKD 13,537,000 for the same period in 2021[17] Governance and Compliance - The audit committee reviewed the interim financial results, confirming compliance with relevant accounting standards and regulations[30] - The company maintained a governance structure with three independent non-executive directors to ensure a balance of power[28] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2022, was HKD 26,266 thousand, a significant improvement from a cash outflow of HKD 14,883 thousand in the same period last year[44] - The company reported a net cash outflow from investing activities of HKD 100,334 thousand, compared to HKD 52,765 thousand in the previous year, reflecting increased investment activities[44] - Financing activities generated a net cash inflow of HKD 60,119 thousand, a notable increase from HKD 1,085 thousand in the prior year[45] Asset Management - Non-current assets increased to HKD 1,529,130 thousand as of June 30, 2022, compared to HKD 1,461,735 thousand as of December 31, 2021, reflecting a growth of 4.6%[38] - Current assets rose to HKD 3,057,858 thousand, up from HKD 2,737,679 thousand, marking an increase of 11.7%[38] - Total liabilities increased to HKD 1,737,059 thousand from HKD 1,494,358 thousand, representing a rise of 16.3%[38] - Net asset value reached HKD 2,808,949 thousand, compared to HKD 2,674,220 thousand, indicating a growth of 5.0%[39] Risk Management - The group did not enter into any hedging arrangements for foreign exchange risks during the six months ended June 30, 2022[16] Acquisitions and Investments - The acquisition of C & H Mekong was completed for a total cash consideration of HKD 7,195,000, transitioning it from an associate to a wholly-owned subsidiary[88] - The fair value of identifiable assets and liabilities acquired in the C & H Mekong acquisition amounted to HKD 15,269,000[89] - The company recognized a gain of HKD 595,000 from the phased acquisition of C & H Mekong, contributing HKD 739,000 to net profit for the period[90] Miscellaneous - The company reported a loss of HKD 41,420,000 due to unauthorized fund transfer, which is currently under investigation by the Hong Kong police[56] - The company reported no significant impact from the adoption of revised accounting standards during the reporting period[47] - The group identified four reportable segments for resource allocation and performance evaluation, consistent with the previous year[48]

Financial Performance - Total revenue for the year ended December 31, 2021, increased by 27.0% to HKD 4,799,800,000 compared to HKD 3,779,600,000 in 2020[14] - Gross profit for 2021 was HKD 614,700,000, with a gross margin of 12.8%, down from HKD 660,600,000 and 17.4% in 2020[14] - Profit attributable to equity holders for 2021 was HKD 193,600,000, a decrease from HKD 272,800,000 in 2020[14] - Cash and cash equivalents, along with bank deposits, amounted to HKD 601,200,000 as of December 31, 2021, down from HKD 665,400,000 in 2020[14] - The board recommended a final dividend of HKD 0.10 per ordinary share, consistent with the previous year[14] - The company reported a mid-term dividend of 0.02 HKD per share and a proposed final dividend of 0.10 HKD per share for the year ending December 31, 2021[46] - The total reserves available for distribution to equity shareholders as of December 31, 2021, were 1,155,713,000 HKD, an increase from 1,078,780,000 HKD in 2020[56] Revenue Breakdown - The plastic model division saw a sales increase of 34.3% to HKD 2,663,600,000, accounting for 55.5% of total revenue[15] - The plush toy division's revenue rose to HKD 1,407,200,000, representing a 19.0% increase and 29.3% of total revenue[17] - The waterproof cover division contributed HKD 471,900,000 in revenue, an 18.9% year-on-year increase, making up 9.8% of total revenue[18] - The injection molding products division's revenue increased by 19.1% to HKD 257,000,000, accounting for 5.4% of total revenue[18] - North America remains the largest market, contributing 70.8% of total revenue, followed by Japan at 10.2% and Europe at 8.1%[19] Operational Developments - The company plans to build a new factory in Vietnam expected to commence operations in June 2022, along with three new factories in China to increase production capacity[10] - The company has diversified its product offerings to include non-seasonal products to boost sales during off-peak periods[8] - The company acquired a waterproof cover business in 2021, contributing to stable revenue growth[8] - The company aims to strengthen supplier relationships to ensure stable raw material sourcing and reduce costs through bulk purchasing[10] - The group operates 23 factories with an average utilization rate of 81.0%, with 19 located in Vietnam[20] - In 2022, the company plans to expand capacity by opening a new plastic model factory and three plush toy factories in China[22] Employee and Workforce Information - The group employed 25,841 staff as of December 31, 2021, an increase from 23,928 the previous year[23] - Employee turnover rate for the year was 14.1%, with a total of 21,933 employees across ten subsidiaries in Vietnam and China as of December 31, 2021[175] - A total of 1,730,703 training hours were provided to employees across ten subsidiaries in 2021[183] - The total number of employees is 21,933, with a gender distribution of 2,200 males and 19,733 females[193] - Total training hours amounted to 1,730,703, with 100% of male and female employees receiving training[194] Corporate Governance - The board emphasizes the importance of good corporate governance for the company's ongoing success, focusing on board quality, robust internal controls, transparency, and accountability[86] - The board consists of four executive directors and three independent non-executive directors, ensuring a diverse and qualified leadership team[87] - All independent non-executive directors confirmed their independence in accordance with listing rules[80] - The audit committee reviewed the accounting policies and financial reporting matters for the year ending December 31, 2021[81] - The company has established committees, including the audit, remuneration, and nomination committees, primarily composed of independent non-executive directors[97] Risk Management and Compliance - The company confirmed that there are no significant uncertainties affecting its ability to continue as a going concern, and the financial statements were prepared on a going concern basis[104] - The board confirmed its responsibility for assessing the nature and extent of risks the group is willing to take to achieve its strategic objectives, ensuring effective risk management and internal control systems are in place[119] - The company has established a risk management working group to continuously review the effectiveness of its risk management and internal control systems[119] - The audit committee assists the board in monitoring financial, operational, compliance, and risk management functions, reviewing the effectiveness of the internal control systems[119] Environmental, Social, and Governance (ESG) Initiatives - The company aims to enhance environmental, social, and governance responsibilities to create greater value for stakeholders[34] - The environmental, social, and governance (ESG) report covers the period from January 1, 2021, to December 31, 2021, focusing on the production of plush toys and related products[131] - The company has implemented measures to reduce energy consumption, including reducing lighting in non-working areas and replacing existing pumps with more energy-efficient models[151] - The company has achieved compliance with various social compliance standards, including ICTI2 Care Program and Disney International Labor Standards, addressing industry-related environmental, social, and governance issues[137] - The company continues to engage stakeholders in assessing the importance of environmental, social, and governance issues, highlighting child labor, health and safety, and employee welfare as critical areas[137] Community Engagement and Contributions - Charitable donations made by the group amounted to 1,724,000 HKD for the year ending December 31, 2021, compared to 700,000 HKD in 2020[55] - Total community investment reached HKD 1,723,746 in 2021, including donations to local fire departments and direct contributions to communities in need[194] Health and Safety Measures - The company provided free masks to employees and implemented strict health measures in response to COVID-19[190] - The company has implemented occupational health and safety measures, with monitoring methods in place[200] - There were no work-related fatalities reported in 2019 and 2020[200]

Financial Performance - Total revenue increased by 20.2% to HKD 1,959,500,000 for the six months ended June 30, 2021, compared to HKD 1,629,600,000 for the same period in 2020[4] - Profit for the period decreased to HKD 45,400,000, compared to HKD 87,400,000 for the same period in 2020[4] - Gross profit maintained at HKD 250,600,000 with a gross margin of 12.8%, down from 15.9% in the previous year[4] - Operating profit decreased to HKD 76,950,000 from HKD 118,568,000 year-on-year, reflecting a decline of approximately 35.2%[43] - Profit before tax was HKD 73,641,000, down from HKD 113,551,000 in the previous year, marking a decrease of around 35.1%[43] - The net profit for the period was HKD 45,392,000, compared to HKD 87,448,000 in 2020, which is a decline of approximately 48.1%[43] - Basic and diluted earnings per share were HKD 0.067, down from HKD 0.129 in the same period last year, representing a decrease of about 48.8%[43] - Total comprehensive income for the period was HKD 49,471,000, down from HKD 73,401,000 in 2020, indicating a decrease of about 32.6%[45] Revenue Breakdown - Revenue from the plastic model division increased by 28.9% to HKD 1,031,400,000, accounting for 52.7% of total revenue[5] - Revenue from the plush toy division decreased to HKD 556,800,000, representing 28.4% of total revenue[6] - Revenue from the waterproof cover division reached HKD 276,500,000, a growth of 175.4% since its acquisition[8] - Injection molding division revenue grew by 25.5% to HKD 94,800,000, accounting for 4.8% of total revenue[9] - Revenue from major product lines included HKD 1,031,407,000 from plastic models, HKD 556,839,000 from plush toys, HKD 276,454,000 from waterproof covers, and HKD 94,771,000 from injection molded products[59] - Revenue by geographical location showed HKD 1,464,417,000 from North America, HKD 197,947,000 from Japan, HKD 116,721,000 from China, and HKD 89,352,000 from Europe[60] Market and Employment - North America remains the largest market, contributing 74.7% of total revenue, followed by Japan at 10.1% and China at 6.0%[10] - As of June 30, 2021, the company employed 24,554 staff, an increase from 23,928 at the end of 2020[14] Capital Structure and Debt - The company maintains a capital debt ratio of 13.2% as of June 30, 2021, up from 9.9% at the end of 2020[16] - Total liabilities increased to HKD 1,257,751 thousand from HKD 946,353 thousand, indicating a rise of 32.8%[47] - Bank loans amounted to HKD 101,934,000 as of June 30, 2021, an increase from HKD 77,019,000 as of December 31, 2020, indicating a rise of 32.2%[89] - The company’s total liabilities for the reporting segments were HKD 1,311,246,000, compared to HKD 985,104,000 in the previous period[62] Cash Flow and Assets - The company reported a net cash outflow from operating activities of HKD 54,130 thousand for the six months ended June 30, 2021, compared to a net inflow of HKD 74,194 thousand in the same period of 2020[52] - Cash and cash equivalents decreased to HKD 383,652 thousand from HKD 489,071 thousand, a decline of 21.6%[53] - Current assets increased to HKD 2,394,609 thousand from HKD 2,114,022 thousand, marking a significant rise of 13.2%[47] - The net asset value as of June 30, 2021, was HKD 2,542,128 thousand, a decrease from HKD 2,560,344 thousand as of December 31, 2020, reflecting a decline of 0.7%[49] Dividends and Shareholder Information - The board declared an interim dividend of HKD 0.02 per share, totaling HKD 13,537,000, consistent with the previous year[21] - Major shareholders include Choi Kwai Yan with a beneficial interest of 386,525,000 shares, representing 57.10% of the issued shares[30] - Uni-Link Technology Limited, wholly owned by Choi Kwai Yan, holds 72,150,000 shares, accounting for 10.66% of the issued shares[30] - FIL Limited and its controlled entities collectively hold 60,902,000 shares, representing 8.99% of the issued shares[30] Acquisitions and Investments - The acquisition of C & H Vina and C & H Tarps was completed for a total consideration of USD 16,000,000 (approximately HKD 124,791,000)[107] - The fair value of identifiable assets and liabilities acquired from C & H Vina and C & H Tarps was HKD 141,197,000, resulting in a bargain purchase gain of HKD 16,406,000 recognized in the income statement[109] - The group reported a net cash outflow of HKD 104,692,000 related to the acquisition after accounting for cash and cash equivalents acquired[110] - The acquisition is expected to achieve synergies and reduce manufacturing costs for waterproof covers[115] Compliance and Governance - The company maintained compliance with the corporate governance code, although the roles of Chairman and CEO are held by the same individual, which is noted as a deviation from the code[36] - The audit committee reviewed the interim financial results and confirmed compliance with relevant accounting standards and regulations[36]

Financial Performance - For the year ended December 31, 2020, the company reported revenue of HKD 3,779,600,000, a decrease from HKD 3,991,800,000 in 2019, reflecting a decline of approximately 5.3%[19] - Gross profit for the year was HKD 660,600,000, down from HKD 941,000,000 in 2019, resulting in a gross margin of 17.4%, compared to 23.6% in the previous year[19] - Profit attributable to equity holders was HKD 272,800,000, a significant decrease from HKD 477,500,000 in 2019, with a net profit margin of 7.2% compared to 12.0% in 2019[19] - The company reported a total comprehensive income of HKD 272,776 for the year, compared to HKD 478,447 in 2019[191] - The annual profit for the year ended December 31, 2020, was HKD 272,776,000, a decrease of 43% compared to HKD 478,447,000 in 2019[195] - Total comprehensive income for the year was HKD 277,070,000, down from HKD 463,530,000 in the previous year[200] - Operating profit decreased to HKD 339,731, a decline of 43.5% compared to HKD 600,340 in the previous year[191] - Profit before tax was HKD 330,703, down 44.4% from HKD 593,693 in 2019[191] - Net profit from continuing operations was HKD 272,776, a decrease of 45.2% from HKD 496,629 in 2019[191] - Basic and diluted earnings per share from continuing operations were HKD 0.4030, down from HKD 0.7254 in 2019[193] Liquidity and Assets - The company maintained cash and cash equivalents at HKD 665,400,000, nearly unchanged from HKD 668,700,000 in 2019, indicating stable liquidity[19] - As of December 31, 2020, the group had a net current asset value of HKD 1,167,700,000, up from HKD 1,072,600,000 in the previous year[30] - The company’s cash and cash equivalents decreased to HKD 489,071,000 from HKD 583,063,000, a decline of about 16.1%[196] - Non-current assets increased to HKD 1,432,686,000 from HKD 1,316,023,000, reflecting a growth of approximately 8.8%[196] - Current assets rose to HKD 1,167,669,000, compared to HKD 1,072,637,000 in 2019, marking an increase of about 8.8%[196] - Total liabilities increased to HKD 2,114,022,000 from HKD 1,945,186,000, representing an increase of approximately 8.7%[196] - The net asset value as of December 31, 2020, was HKD 2,560,344,000, up from HKD 2,364,498,000 in 2019, indicating a growth of about 8.3%[198] - The company reported a significant increase in inventory, which rose to HKD 666,110,000 from HKD 594,541,000, reflecting a growth of approximately 12.0%[196] Market and Product Development - The company plans to launch new products, including fashionable dolls under the baby doll category, and expand its injection-molded product range to include more non-seasonal items[15] - The company aims to diversify its product offerings by introducing home products such as cushions and slippers, capitalizing on the "stay-at-home" economy trend[15] - The plastic model division recorded a slight revenue increase to HKD 1,982,800,000, accounting for 52.5% of total revenue[20] - The plush toy division's revenue decreased to HKD 1,184,000,000, representing 31.3% of total revenue, down from HKD 1,870,500,000 in the previous year[22] - The injection molding products division saw a revenue increase of 65.2% to HKD 215,700,000, contributing 5.7% to total revenue[23] - The waterproof cover division generated revenue of HKD 397,000,000, making up 10.5% of total revenue[24] - North America remained the largest market, contributing 71.2% of total revenue, followed by Japan at 14.3%[25] Corporate Governance and Compliance - The company has adopted the corporate governance code and has taken measures to ensure compliance with the latest regulations[83] - The independent non-executive directors have confirmed their independence in accordance with the listing rules[78] - The board held nine meetings and one special shareholders' meeting during the year ending December 31, 2020[87] - The company has established a clear governance structure with various committees, including the audit and remuneration committees, to ensure accountability and transparency[98] - The board confirmed that it is responsible for preparing financial statements that fairly reflect the group's financial position and ensuring compliance with applicable financial reporting standards[100] - The audit committee reviewed the external auditor's statutory audit plan and the results of the interim review and year-end audit[102] - The company has implemented policies to enhance the effectiveness of its risk management and internal control systems[111] Environmental and Social Responsibility - The company is committed to environmental sustainability and corporate social responsibility in its operations[38] - The company has implemented various environmental, social, and governance (ESG) standards, including ICTI2 Care Program and Disney International Labor Standards, to address industry-related issues[124] - Energy consumption is identified as a critical environmental factor, with electricity usage being the largest component of energy consumption in manufacturing processes[129] - The company has taken measures to improve energy efficiency, such as reducing lighting in non-working areas and replacing existing pumps with more energy-efficient models[136] - Water consumption measures include collecting rainwater to reduce freshwater usage, with an estimated monthly saving of 10,000 cubic meters from cooling dyed water[139] - The company has installed wastewater treatment facilities at its production plants to ensure proper treatment before discharge into urban sewage systems[146] - The company has not recorded carbon emissions data this year but plans to consider disclosing it in the future based on regulatory changes[142] - The company has actively engaged in CSR activities, including funding local fire departments and direct donations to communities[164] Employee and Labor Practices - As of December 31, 2020, the company employed a total of 21,303 employees across nine subsidiaries in Vietnam and China, with an employee turnover rate of 25.5%[152] - The company provided a total of 801,489 hours of training to employees across its nine subsidiaries in 2020[158] - The company encourages resource conservation and provides waste recycling facilities, focusing on the recycling of polypropylene (PP), polyvinyl chloride (PVC), and acrylonitrile-butadiene-styrene (ABS) materials[151] - The company has implemented various safety measures, including health and safety training for new employees and regular internal inspections of safety equipment[156] - The company has not reported any incidents of child labor or forced labor violations during the reporting period[159] - The company continues to encourage employee participation in health and safety initiatives, making it a collective responsibility rather than just a management concern[124] Risk Management - The risk management framework is guided by a "three lines of defense" model to ensure effective risk control[111] - The audit committee found the internal control scope of the risk management team to be adequate given the group's operational scale and complexity, with no significant concerns affecting financial status or operational performance[113] - The company is facing pressures from global economic challenges, raw material price fluctuations, and rising operational costs[34] - The company is monitoring foreign currency risks closely and will consider hedging when necessary[37]

Financial Performance - Total revenue for the first half of 2020 reached HKD 1,629,600,000, a year-on-year increase of 1.2% from HKD 1,609,500,000[2] - Net profit for the period was HKD 87,400,000, resulting in a net profit margin of 5.4%, compared to 6.9% in the previous year[2] - Revenue for the six months ended June 30, 2020, was HKD 1,629,551,000, an increase from HKD 1,591,075,000 in the same period of 2019, representing a growth of 2.4%[32] - Profit attributable to equity holders for the period was HKD 87,448,000, compared to HKD 110,269,000 in 2019, a decline of 20.7%[33] - Total comprehensive income for the period attributable to equity holders of the company was HKD 73,401,000, down from HKD 104,503,000 in 2019, reflecting a decline of 29.8%[38] Segment Performance - The plush toy segment generated revenue of HKD 653,800,000, accounting for 40.1% of total revenue, down from HKD 775,400,000[3] - The plastic model segment reported revenue of HKD 799,900,000, a 3.9% increase year-on-year, representing 49.1% of total revenue[4] - The injection molding products segment saw a significant revenue increase of 66.0% to HKD 75,500,000, contributing 4.6% to total revenue[5] - Revenue from plush toys was HKD 653,773,000, down from HKD 775,420,000 in 2019, a decrease of 15.7%[55] - Revenue from plastic model kits increased to HKD 799,901,000 from HKD 770,175,000, reflecting a growth of 3.4%[55] Market Analysis - North America remained the largest market, contributing 67.5% of total revenue, followed by Japan at 20.6%[7] - Revenue from North America was HKD 1,099,709,000, up from HKD 943,838,000, indicating a growth of 16.6%[56] - Revenue from Japan decreased to HKD 336,437,000 from HKD 349,718,000, a decline of 3.8%[56] Financial Position - As of June 30, 2020, the group's net current assets amounted to HKD 998.7 million, a decrease from HKD 1,072.6 million as of December 31, 2019[12] - The total cash and cash equivalents as of June 30, 2020, were HKD 465.9 million, down from HKD 583.1 million as of December 31, 2019[12] - The total bank loans increased to HKD 245.8 million as of June 30, 2020, compared to HKD 125.3 million as of December 31, 2019[12] - The company's total liabilities were HKD 882,197,000, which is a slight decrease from HKD 872,549,000 at the end of 2019[40] - The company's total equity attributable to equity holders was HKD 2,370,212,000, slightly up from HKD 2,386,989,000 at the end of 2019[41] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2020, was HKD 74,194,000, a decrease from HKD 82,585,000 in the previous year[46] - Net cash used in investing activities amounted to HKD 146,615,000, compared to HKD 57,627,000 in the prior year[47] - The company invested HKD 104,692,000 in acquiring subsidiaries, net of cash acquired[46] - The company raised new bank loans totaling HKD 186,817,000, compared to HKD 139,287,000 in the previous year[47] Acquisitions - The company completed the acquisition of C & H Vina Joint Stock Company for USD 11 million (approximately HKD 85.8 million) and C & H Tarps Co., Ltd. for USD 5 million (approximately HKD 39.0 million) on March 31, 2020[16] - The acquisition contributed HKD 100,385,000 in revenue and HKD 9,668,000 in net profit from March 31, 2020, to June 30, 2020[106] - The total fair value of identifiable assets acquired and liabilities assumed in the acquisition amounted to HKD 141,197 million[103] Dividends - The interim dividend declared for the six months ended June 30, 2020, was HKD 0.02 per share, down from HKD 0.03 per share for the same period in 2019[18] - The total interim dividend amounted to HKD 13.5 million, compared to HKD 20.3 million for the same period in 2019[18] Governance and Compliance - The audit committee reviewed the interim financial results and confirmed compliance with relevant accounting standards and regulations[28] - The company maintained compliance with the corporate governance code, with three independent non-executive directors on the board[26] Miscellaneous - The company did not engage in any hedging activities during the six months ended June 30, 2020, but will continue to monitor foreign currency risks[17] - The company recognized a rental reduction of HKD 174,000 due to COVID-19 related measures during the six months ending June 30, 2020[69]

Financial Performance - For the year ended December 31, 2019, the company's revenue increased by 12.9% to HKD 3,991,800,000, up from HKD 3,536,900,000 in 2018[16] - Gross profit rose by 26.6% to HKD 941,000,000, with a gross margin of 23.6%, compared to 21.0% in 2018[16] - Net profit attributable to equity holders surged by 43.6% to HKD 477,500,000, with a net profit margin of 12.0%, up from 9.1% in 2018[16] - The plush toy division recorded revenue of HKD 1,870,500,000, representing a 10.5% increase from HKD 1,692,200,000 in 2018, accounting for 46.9% of total group revenue[17] - The plastic model division achieved revenue growth of 11.2% to HKD 1,972,400,000, up from HKD 1,774,000,000 in 2018, making up 49.4% of total group revenue[19] - The injection molding products division generated revenue of HKD 130,600,000, contributing 3.3% to total group revenue, marking its first profitability since relocating from China[19] Production and Capacity - The company has over 79% of its production capacity located in Vietnam, allowing it to benefit from the US-China trade conflict and maintain lower costs compared to competitors solely based in China[11] - The group operates 19 factories with an average utilization rate of approximately 89%, and is expanding production capacity in Vietnam[21] - The company has acquired additional land in Vietnam to build specialized production facilities, expected to commence operations in the first half of 2020[11] - The group has acquired additional land in Vietnam for new production facilities to meet growing demand for plastic models[23] Dividends and Shareholder Returns - The board has proposed a final dividend of HKD 0.10 per ordinary share for the year ended December 31, 2019, compared to HKD 0.08 per share in 2018[16] - The company reported a mid-term dividend of 3 HKD cents per share, an increase from 1 HKD cent per share in 2018, and proposed a final dividend of 10 HKD cents per share for the year ending December 31, 2019, compared to 8 HKD cents per share in 2018[47] - As of December 31, 2019, the total reserves available for distribution to equity shareholders amounted to HKD 1,026,960,000, an increase from HKD 882,283,000 in 2018[60] Acquisitions and Business Expansion - The company has entered into share transfer agreements with C & H Co., Ltd. to acquire C & H Vina Joint Stock Company and C & H Tarps Co., Ltd., which are expected to contribute revenue once the acquisitions are completed[11] - The company entered into agreements to acquire 100% equity of C & H Vina Joint Stock Company for USD 11,000,000 (approximately HKD 86,130,000) and C & H Tarps Co., Ltd. for USD 5,000,000 (approximately HKD 39,150,000) on November 29, 2019[29] - The share transfer and capital transfer agreements are pending completion, after which C & H Vina and C & H Tarps will become wholly-owned subsidiaries of the company[55] Market and Regional Insights - North America remains the largest regional market, accounting for 63.9% of total revenue, followed by Japan at 20.2%[20] - The company aims to maintain stable prospects across all three product segments while implementing strict cost control measures to enhance overall operational efficiency[13] - The company is closely monitoring market conditions and will take necessary actions to strengthen its industry-leading position and create greater growth momentum[13] Employee and Workforce Management - Employee headcount increased to 26,717 from 23,242 in 2018, with total employee costs amounting to HKD 1,103,700,000[24] - The total number of employees is 23,142, with a gender distribution of 2,221 males and 20,921 females[180] - The company conducted a total of 1,088,934 hours of training for employees across its nine subsidiaries in 2019[170] - Employee turnover rate stands at 26.2%, with 7 reported work-related injuries and 110 lost workdays due to injuries[180] - The company has a zero record for work-related fatalities and health and safety regulation violations[180] Corporate Governance - The board emphasizes the importance of good corporate governance for the company's sustained success, focusing on transparency and accountability[86] - The board consists of four executive directors and three independent non-executive directors, with no significant relationships among them[86] - The audit committee reviewed the accounting policies and financial reporting matters for the year ending December 31, 2019[82] - The company has established a clear governance structure with independent committees to oversee remuneration and audit functions[101][104] - The independent non-executive directors confirmed their independence annually, contributing to the effective functioning of the board[97] Environmental and Social Responsibility - The company has implemented environmental management practices to minimize resource usage, particularly energy and water, in its operations[135] - The company aims to save approximately 10,000 cubic meters of water monthly by reusing dyeing water for production activities[145] - Compliance with local air emission regulations is critical, with all emissions reported last year meeting local standards[147] - The company made charitable donations totaling HKD 1,481,000 for the year ended December 31, 2019, down from HKD 2,753,000 in 2018[59] - The company emphasizes the importance of employee welfare, health, and safety as key social issues in its sustainability strategy[132] Risk Management - The company confirmed that there are no significant uncertainties affecting its ability to continue as a going concern, and the financial statements were prepared on a going concern basis[103] - The risk management framework is guided by a "three lines of defense" model, ensuring effective oversight of control matters by the board[115] - The audit committee assists the board in monitoring financial, operational, compliance, risk management, and internal audit functions[115] - The company is committed to maintaining confidentiality and proper approval processes for the handling and disclosure of inside information[116] Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements of the company accurately reflect its financial position as of December 31, 2019, in accordance with Hong Kong Financial Reporting Standards[193] - The audit identified inventory valuation as a key audit matter due to significant management judgment involved in determining appropriate inventory write-downs[197] - The auditor evaluated the allocation of labor and production overhead costs included in inventory, which requires significant management judgment and complex calculations[199] - The company must ensure compliance with relevant laws and regulations regarding product responsibility, including health and safety, advertising, and consumer data protection[194]

Financial Performance - The group's revenue for the first half of 2019 reached HKD 1,609,500,000, an increase of 15.1% year-on-year from HKD 1,398,200,000[3] - Gross profit rose by 4.4% to HKD 297,200,000, with a gross margin of 18.5%, down from 20.4% in the previous year[3] - Net profit increased by 40.5% to HKD 110,300,000, resulting in a net profit margin of 6.9%, up from 5.6%[3] - Revenue for the six months ended June 30, 2019, was HKD 1,591,075, an increase of 15.9% compared to HKD 1,372,591 for the same period in 2018[32] - Gross profit for the same period was HKD 313,731, representing a gross margin of 19.7%[32] - Operating profit increased to HKD 149,757, up 15.4% from HKD 129,826 in the previous year[32] - Profit before tax was HKD 147,158, an increase of 14.3% compared to HKD 128,689 in 2018[32] - Net profit for the period was HKD 110,269, a 40.5% increase from HKD 78,504 in the prior year[33] - Total comprehensive income for the period was HKD 104,503, compared to HKD 81,463 in the same period last year[36] - The reported profit for continuing operations was HKD 221,467,000, compared to HKD 184,241,000 in the same period last year, reflecting a growth of 20.2%[79] Revenue Breakdown - The plush toy segment's revenue grew by 15.1% to HKD 775,400,000, accounting for 48.2% of total revenue[4] - The plastic model segment's revenue increased by 10.2% to HKD 770,200,000, representing 47.9% of total revenue[5] - Revenue from plush toys amounted to HKD 775,420,000 for the six months ended June 30, 2019, compared to HKD 673,736,000 in the previous year, reflecting an increase of about 15.1%[75] - Revenue from plastic model kits was HKD 770,175,000 for the same period, up from HKD 698,855,000, indicating a growth of approximately 10.3%[75] - The company reported a new revenue stream from injection molded products amounting to HKD 45,480,000 for the first time in 2019[75] - Revenue from China surged to HKD 104,642,000, a significant increase from HKD 38,286,000 in 2018, representing a growth of 173.5%[76] Market and Expansion - North America remained the largest market, contributing 59.8% of total revenue, followed by Japan at 21.7%[7] - The group plans to expand production capacity in Vietnam to meet increasing demand for plastic models[8] - The company plans to focus on expanding its market presence in Europe and Asia, leveraging the growth in these regions[76] Employment and Staff - As of June 30, 2019, the group employed 23,620 staff, an increase from 23,242 at the end of 2018[11] Dividends and Shareholder Information - The interim dividend declared for the six months ended June 30, 2019, is HKD 0.03 per share, totaling HKD 20,306,000, compared to HKD 6,769,000 for the same period in 2018[16] - The major shareholder, 崔奎玧, holds 384,739,000 shares, representing 56.84% of the company's issued shares[22] - FIL Limited and its controlled entities hold a total of 40,750,000 shares, representing 6.02% of the company's issued shares[22] Financial Position and Liabilities - The capital debt ratio as of June 30, 2019, was 7.4%, up from 5.9% at the end of 2018[12] - The group's total assets as of June 30, 2019, amounted to HKD 2,052,918 thousand, up from HKD 1,984,050 thousand at the end of 2018, indicating a growth of approximately 3.4%[40] - The total liabilities as of June 30, 2019, were HKD 794,764 thousand, compared to HKD 753,065 thousand at the end of 2018, representing an increase of approximately 5.5%[39] - The company reported a net asset value of HKD 2,025,777 thousand as of June 30, 2019, compared to HKD 1,975,423 thousand at the end of 2018, reflecting an increase of about 2.5%[41] - The total debt increased to HKD 780,210,000 as of June 30, 2019, from HKD 737,520,000 on January 1, 2019[105] - The net debt-to-equity ratio rose to 18.4% as of June 30, 2019, compared to 18.2% on January 1, 2019, and 16.8% on December 31, 2018[105] Accounting Standards and Compliance - The company adopted the revised Hong Kong Financial Reporting Standard 16 on January 1, 2019, which introduced a single accounting model for leases[52] - The new lease definition under HKFRS 16 focuses on the concept of control over the use of identified assets, affecting how leases are accounted for[54] - The company capitalized all leases, including those previously classified as operating leases under HKAS 17, except for short-term leases and low-value asset leases[55] - The transition to HKFRS 16 did not have a significant impact on the group's financial statements, as investment properties continued to be accounted for at cost less accumulated depreciation and impairment losses[57] - The group adopted HKFRS 16, resulting in a total lease liability of HKD 28,501,000 recognized on January 1, 2019[61] Cash Flow and Investments - The company’s cash flow from operating activities for the six months ended June 30, 2019, was HKD 117,288 thousand, compared to HKD 110,466 thousand in the same period of 2018, showing an increase of about 6.1%[46] - The company’s investment activities resulted in a net cash outflow of HKD 57,627 thousand for the six months ended June 30, 2019, compared to an outflow of HKD 295,349 thousand in the same period of 2018, indicating a significant reduction in cash outflow[46] - The net cash flow from financing activities for the six months ended June 30, 2019, was a net outflow of HKD 28,955,000, compared to an inflow of HKD 114,642,000 in the same period of 2018[47] Discontinued Operations - The company classified the performance of its riding toy segment as discontinued operations during the reporting period[34] - The company has ceased operations in the riding toys segment, which reported revenue of HKD 18,377,000 in the previous year[73] - The revenue from discontinued operations for the six months ended June 30, 2019, was HKD 18,377,000, compared to HKD 25,575,000 for the same period in 2018[121] - The operating loss from discontinued operations for the six months ended June 30, 2019, was HKD 18,182,000, slightly improved from HKD 20,263,000 in 2018[122]