Financial Performance - The company reported a net loss of HKD 21,600,000 for the year ended December 31, 2024, compared to a net profit of HKD 1,400,000 in 2023[8]. - Total revenue for 2024 was HKD 453,581,000, a decrease from HKD 393,284,000 in 2023, reflecting a year-over-year increase of 15.3%[12]. - Gross profit for 2024 was HKD 44,665,000, down from HKD 56,979,000 in 2023, indicating a decline of 21.5%[12]. - Operating loss for 2024 was HKD 19,457,000, compared to an operating profit of HKD 3,856,000 in 2023[12]. - The group's gross profit decreased by approximately HKD 12,300,000 or 21.6% to approximately HKD 44,700,000, with the overall gross profit margin declining from 14.5% to 9.8% due to increased market competition and a drop in average selling prices[19]. - Other income decreased from approximately HKD 24,100,000 to approximately HKD 12,800,000, primarily due to the absence of dismantling compensation income in the current year[20]. - The company’s financial performance and position as of December 31, 2024, are detailed in the consolidated financial statements on pages 52 to 54 of the annual report[120]. Assets and Liabilities - Total assets as of December 31, 2024, were HKD 282,928,000, an increase from HKD 264,004,000 in 2023[13]. - Total liabilities increased to HKD 126,494,000 in 2024 from HKD 80,813,000 in 2023, representing a significant rise of 56.5%[13]. - The current ratio decreased to approximately 2.0 times from 3.1 times, indicating a reduction of about 35.5% in liquidity[27]. - The group maintained cash and bank balances of approximately HKD 27,800,000, an increase of about HKD 7,500,000 from HKD 20,300,000 in the previous year[30]. - As of December 31, 2024, the company's lease liabilities amount to approximately HKD 12,600,000[32]. Business Strategy and Outlook - The company plans to enhance cost control measures and improve production capacity to strengthen competitiveness[8]. - The company aims to develop advanced automated production lines to prepare for future growth[8]. - The company will seek new business opportunities to achieve better diversification[8]. - The company expressed a cautious yet optimistic outlook for business development in 2025[8]. - The group plans to continue monitoring market trends and consumer behavior while implementing cost-saving measures to enhance financial performance[15]. - The group aims to diversify its business and revenue sources to mitigate potential risks and uncertainties in the market[15]. Corporate Governance - The company is committed to maintaining high standards of corporate governance, as evidenced by the diverse expertise of its board members[62]. - The board consists of two executive directors, two non-executive directors, and three independent non-executive directors as of December 31, 2024[69]. - All directors confirmed compliance with the securities trading standards code for the year ending December 31, 2024[65]. - The company has established clear separation of roles between the chairman and the CEO, with defined responsibilities[71]. - Independent non-executive directors are required to confirm their independence annually, ensuring unbiased decision-making[80]. - The board has reviewed the implementation and effectiveness of governance measures for the year ending December 31, 2024[81]. - The company’s governance practices are regularly reviewed to meet stakeholder expectations and regulatory requirements[68]. Committees and Meetings - The company has a total of four committees: Audit, Remuneration, Nomination, and Risk Management, all with written terms of reference[84]. - The Audit Committee held three meetings during the year ending December 31, 2024, reviewing interim and annual financial statements[87]. - The Remuneration Committee held one meeting during the year, reviewing the company's remuneration policies and making recommendations regarding director compensation[90]. - The nomination committee held one meeting during the year and reviewed the board's structure and composition[97]. - The risk management committee held two meetings and assessed the group's exposure to sanction-related risks[98]. Shareholder Information - The company has adopted a shareholder communication policy to ensure effective and timely communication with shareholders and potential investors[114]. - The company will suspend the transfer of shares from May 23, 2025, to May 29, 2025, to determine the eligibility of shareholders for the upcoming annual general meeting[130]. - The company did not recommend the payment of a final dividend for the year ended December 31, 2024, and the year ended December 31, 2023[121]. - The company has disclosed no significant transactions or arrangements involving directors' interests beyond what is stated in the annual report[137]. Employee Information - Total employee benefit expenses for the year ended December 31, 2024, are approximately HKD 129,300,000, compared to HKD 123,100,000 for the previous year[42]. - The company has a total of 1,025 employees as of December 31, 2024, with 1,008 located in China and 17 in Hong Kong[42]. Risk Management - The company faces various financial risks, including foreign currency risk, credit risk, liquidity risk, and interest rate risk[36]. - The company has adopted internal control and risk management policies to ensure compliance with relevant laws and regulations[196]. Environmental and Social Responsibility - The company is committed to promoting environmental sustainability and social development, with details provided in the Environmental, Social, and Governance report[194].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 453,581,000, representing a 15.3% increase from HKD 393,284,000 in 2023[3] - Gross profit decreased to HKD 44,665,000, down 21.5% from HKD 56,979,000 in the previous year[3] - The company reported a net loss attributable to shareholders of HKD 21,632,000, compared to a profit of HKD 1,388,000 in 2023[3] - The basic and diluted loss per share was HKD 4.33, a significant decline from earnings of HKD 0.28 per share in the prior year[4] - The total revenue from other income sources decreased from HKD 24,102,000 in 2023 to HKD 12,801,000 in 2024, representing a decline of approximately 47%[17] - The group reported a net loss of HKD 21,632,000 for 2024, compared to a profit of HKD 1,388,000 in 2023, reflecting a significant downturn in performance[24] - The company recorded revenue of approximately HKD 453,600,000 for the year ending December 31, 2024, representing an increase of about 15.3% compared to HKD 393,300,000 for the year ending December 31, 2023[35] - The company reported a loss of approximately HKD 21,600,000 for the year ending December 31, 2024, compared to a profit of about HKD 1,400,000 in the previous year, primarily due to reduced profit margins on eyewear sales and the absence of dismantling compensation income[44] Revenue Sources - Revenue from Italy was HKD 175,833,000, up 27.3% from HKD 138,222,000 in 2023[12] - Revenue from major customers contributing over 10% to the group's total revenue for 2024 includes Customer A at HKD 124,987,000, Customer B at HKD 40,808,000, Customer C at HKD 64,509,000, and Customer D at HKD 57,704,000, with Customer A showing a 22% increase from 2023[15] Costs and Expenses - The cost of goods sold for the year 2024 was HKD 405,583,000, up from HKD 331,349,000 in 2023, indicating a 22% increase[22] - The group’s employee costs increased to HKD 129,255,000 in 2024 from HKD 123,118,000 in 2023, marking a rise of approximately 5%[22] - Selling and distribution expenses decreased by approximately HKD 2,300,000 or 13.5% to about HKD 14,800,000 for the year ending December 31, 2024, mainly due to a reduction in advertising and promotional expenses[40] - Administrative and other operating expenses increased by approximately HKD 1,800,000 or 3.0% to about HKD 62,000,000 for the year ending December 31, 2024, primarily due to an increase in employee costs[41] - Financing costs increased by approximately HKD 300,000 or 17.6% to about HKD 2,000,000 for the year ending December 31, 2024, mainly due to bank loan interest to enhance overall liquidity[42] Assets and Liabilities - Trade receivables increased to HKD 116,775,000 from HKD 109,067,000, indicating a 7.8% rise[5] - Inventory levels rose to HKD 85,807,000, up from HKD 74,764,000, reflecting a 14.8% increase[5] - Non-current assets decreased to HKD 43,750,000 from HKD 51,336,000, a decline of 14.7%[5] - The company’s total assets less current liabilities were HKD 165,619,000, down from HKD 195,861,000, a decrease of 15.4%[6] - The current ratio decreased to approximately 2.0 times from 3.1 times, and the quick ratio decreased to about 1.3 times from 2.0 times, indicating a decline in liquidity[45] - Cash and cash equivalents increased by approximately HKD 7,500,000 to about HKD 27,800,000 as of December 31, 2024, primarily due to net cash generated from operating activities[46] Trade Receivables and Payables - Trade receivables for 2024 amounted to HKD 117,374,000, with a provision for impairment of HKD 599,000, resulting in a net trade receivable of HKD 116,775,000[24] - Trade receivables impairment loss recorded approximately HKD 100,000 for the year ending December 31, 2024, based on expected credit loss calculations[39] - Trade payables increased significantly to HKD 91,173,000 in 2024 from HKD 44,175,000 in 2023, indicating a rise in supplier credit terms[26] Market and Operational Challenges - The company faced significant challenges in the European market, resulting in a gross profit decrease of 21.6% and a shift from profit to loss[33] - The company is exploring opportunities for business and revenue diversification to mitigate potential risks and uncertainties[34] - The company plans to continue monitoring market trends and consumer behavior while implementing cost-saving measures to enhance financial performance[34] Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and believes it has complied with all applicable provisions for the year ended December 31, 2024[63] - The audit committee has reviewed the group's consolidated performance for the year ended December 31, 2024, confirming compliance with applicable accounting principles and sufficient disclosures[69] Employee Information - The group had a total of 1,025 employees as of December 31, 2024, with 1,008 located in China and 17 in Hong Kong[57] - As of December 31, 2024, the total employee benefits expenditure (including director remuneration) was approximately HKD 129.3 million, compared to HKD 123.1 million for the year ended December 31, 2023, reflecting an increase of about 5.5%[57] Dividends and Investments - The group did not declare any dividends for the years ending December 31, 2024, and 2023[23] - The company did not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with the previous year[65] - The group has no plans for significant investments or acquisitions of major capital assets as of December 31, 2024[60] - There were no major acquisitions or disposals of subsidiaries, associates, or joint ventures during the year ended December 31, 2024[59]

Financial Performance - For the six months ended June 30, 2024, the group recorded revenue of approximately HKD 197.4 million, an increase of about 1.2% compared to HKD 195.1 million for the same period in 2023[5]. - The cost of sales increased by approximately HKD 17.8 million or 11.0% to approximately HKD 179.6 million for the six months ended June 30, 2024, compared to HKD 161.8 million for the same period in 2023[6]. - Gross profit decreased by approximately HKD 15.5 million or 46.5% to approximately HKD 17.8 million, with the overall gross margin declining from 17.0% to 9.0%[7]. - The group transitioned from a profit of approximately HKD 5,400,000 for the six months ending June 30, 2023, to a loss of approximately HKD 12,300,000 for the same period in 2024, primarily due to reduced gross margins on eyewear products[14]. - The net loss attributable to the company's owners for the period was HKD 12,250,000, compared to a profit of HKD 5,369,000 in the same period last year[45]. - The group reported a loss of approximately HKD 12,250,000 for the six months ended June 30, 2024, compared to a profit of HKD 5,369,000 in the same period of 2023[64]. - The company incurred a total comprehensive loss of HKD 16,180,000 for the six months ended June 30, 2024, compared to a total comprehensive income of HKD (2,253,000) in the same period of 2023[48]. Revenue Breakdown - Revenue from Italy for the six months ended June 30, 2024, was HKD 87,770,000, an increase of 46.8% compared to HKD 59,788,000 in the same period of 2023[56]. - Revenue from the United Kingdom was HKD 52,193,000, slightly down by 1.7% from HKD 53,079,000 in the previous year[56]. - Revenue from the United States decreased to HKD 6,930,000, down 34.5% from HKD 10,510,000 in the same period of 2023[56]. - Revenue from major customers contributing over 10% to total revenue includes Customer A at HKD 44,044,000, Customer B at HKD 31,849,000, Customer C at HKD 22,887,000, Customer D at HKD 16,165,000, and Customer E at HKD 18,490,000[58]. Expenses and Costs - Other income decreased to approximately HKD 3.0 million, down by HKD 600,000 due to reduced government subsidies from the Chinese government[8]. - Other gains and losses decreased to approximately HKD 3.5 million, down by HKD 2.9 million, primarily due to a milder depreciation of the Renminbi against the Hong Kong dollar[9]. - Selling and distribution expenses slightly decreased by approximately HKD 1.9 million or 26.0% to approximately HKD 5.4 million, mainly due to reduced advertising and promotional expenses[10]. - Administrative and other operating expenses increased by approximately HKD 2,300,000 or 8.2% to about HKD 30,500,000 for the six months ending June 30, 2024, primarily due to increased employee costs and rent for new leased properties[11]. - Financing costs decreased by approximately HKD 300,000 to about HKD 800,000 for the six months ending June 30, 2024, mainly due to reduced use of trade receivables factoring[12]. Assets and Liabilities - Total assets as of June 30, 2024, were approximately HKD 258,000,000, down from HKD 264,000,000 as of December 31, 2023, with net assets decreasing to approximately HKD 167,000,000[15]. - The current ratio decreased to approximately 2.7 times as of June 30, 2024, from about 3.1 times at the end of 2023, representing a reduction of approximately 12.9%[15]. - Cash and bank balances totaled approximately HKD 18,600,000 as of June 30, 2024, down from HKD 20,300,000 at the end of 2023, primarily due to cash used for property renovations and equipment purchases[16]. - The group had lease liabilities of approximately HKD 14,300,000 as of June 30, 2024, with a breakdown of liabilities due within one year at HKD 3,298,000[18]. - Total inventory as of June 30, 2024, was HKD 71,573,000, a slight decrease from HKD 74,764,000 as of December 31, 2023[67]. - Trade receivables as of June 30, 2024, amounted to HKD 114,161,000, up from HKD 109,067,000 as of December 31, 2023[68]. - Trade payables increased to HKD 58,108,000 from HKD 44,175,000 as of December 31, 2023, representing a 31.6% increase[71]. Corporate Governance and Shareholder Information - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with all applicable provisions for the six months ending June 30, 2024[30]. - All directors confirmed compliance with the standard code for securities trading as of June 30, 2024[31]. - The company has a total issued share capital of 500,000,000 shares as of June 30, 2024[34]. - Major shareholders include Top Peak Holdings, which holds 270,952,000 shares, representing 54.19% of the company's equity[36]. - The beneficial ownership structure indicates that Mr. Guo Junhui and Mr. Guo Junyu each own 49% of Top Peak Holdings, while Mrs. Chen owns 2%[33]. - No other individuals, excluding directors and senior management, hold a 5% or greater interest in the company's issued share capital as of the report date[38]. - The company emphasizes high levels of corporate governance to protect shareholder interests and enhance corporate value[30]. Cash Flow and Financing - For the six months ended June 30, 2024, the company reported a net cash inflow from operating activities of HKD 1,721,000, a significant decrease from HKD 15,936,000 in the same period of 2023, representing an 89.2% decline[49]. - The company's cash and cash equivalents decreased by HKD 1,692,000 during the period, compared to an increase of HKD 5,091,000 in the previous year[49]. - Cash outflows from investing activities were HKD 1,026,000, a decrease from HKD 7,957,000 in the previous year, indicating improved cash management[49]. - On July 26, 2024, the company secured a new bank loan of RMB 9,500,000, which is to be repaid within one year, aimed at providing working capital[78]. Future Outlook - The company aims to maintain and enhance product appeal, reputation, and customer loyalty to improve future profitability[4]. - The company continues to explore and develop new business opportunities to diversify its revenue sources beyond its core eyewear business[4]. - The economic outlook remains uncertain, with inflation pressures in the Eurozone expected to rise to 4.8% in 2024, impacting consumer purchasing power[3].

Financial Performance - For the six months ended June 30, 2024, the group recorded revenue of approximately HKD 197,400,000, an increase of about 1.2% compared to HKD 195,100,000 for the same period in 2023[7]. - Gross profit decreased by approximately HKD 15,500,000 or 46.5% to about HKD 17,800,000 for the six months ending June 30, 2024, with a gross margin decline from 17.0% to 9.0% due to intense market competition[9]. - The company reported a total comprehensive loss of HKD 16,180,000 for the six months ended June 30, 2024, compared to a total comprehensive income of HKD 2,253,000 for the same period in 2023[50]. - The group reported a loss of approximately HKD 12,300,000 for the six months ending June 30, 2024, compared to a profit of about HKD 5,400,000 for the same period in 2023, mainly due to reduced gross profit from eyewear products[16]. - The company recorded a loss attributable to owners of HKD 12,250,000 for the six months ended June 30, 2024, compared to a profit of HKD 5,369,000 in the previous year[47]. Revenue and Market Insights - The global eyewear market size was approximately USD 159.6 billion in 2023, with a projected compound annual growth rate of about 6.2% from 2023 to 2032, reaching a value of USD 279.4 billion by 2028[6]. - Revenue for the six months ended June 30, 2024, was HKD 197,412,000, a slight increase from HKD 195,082,000 in the same period of 2023, representing a growth of 1.1%[58]. - Revenue from Italy significantly increased to HKD 87,770,000, up 46.8% from HKD 59,788,000 in 2023[58]. - Major customer contributions included Customer A with HKD 44,044,000 (down 16.2% from HKD 52,394,000), Customer B with HKD 31,849,000 (up 15.5% from HKD 27,693,000), and Customer C with HKD 22,887,000 (up 29.2% from HKD 17,735,000)[60]. Cost and Expenses - The group's cost of sales increased by approximately HKD 17,800,000 or 11.0% to approximately HKD 179,600,000 for the six months ended June 30, 2024, primarily due to an increase in sales volume[8]. - Selling and distribution expenses slightly decreased by approximately HKD 1,900,000 or 26.0% to about HKD 5,400,000, attributed to a significant reduction in advertising and promotional expenses[12]. - Administrative and other operating expenses increased by approximately HKD 2,300,000 or 8.2% to about HKD 30,500,000, mainly due to rising employee costs and increased rent for new leased properties[13]. - Other income fell by approximately HKD 600,000 to about HKD 3,000,000, primarily due to a reduction in government subsidies from the Chinese government[10]. Assets and Liabilities - Total assets as of June 30, 2024, were approximately HKD 258,000,000, down from HKD 264,000,000 as of December 31, 2023, with a slight increase in the debt-to-equity ratio to 8.6%[17]. - Cash and bank balances decreased by approximately HKD 1,700,000 to about HKD 18,600,000, primarily due to cash used for property renovations and machinery purchases[18]. - The company's current liabilities increased to HKD 79,763,000 from HKD 68,143,000 at the end of 2023, reflecting a rise of 17.1%[48]. - The net asset value as of June 30, 2024, is HKD 167,011,000, a decrease of 8.8% from HKD 183,191,000 as of December 31, 2023[49]. Employee and Governance - The group employed a total of 1,062 employees, with 1,045 in China and 17 in Hong Kong as of June 30, 2024[28]. - Total employee benefit expenses, including directors' remuneration, were approximately HKD 55,400,000 and HKD 57,200,000 for the six months ended June 30, 2024, and June 30, 2023, respectively[28]. - The company maintained compliance with all applicable corporate governance codes during the six months ended June 30, 2024[32]. - The company adopted the corporate governance code as per the Stock Exchange's listing rules to enhance transparency and accountability[32]. Future Outlook and Strategy - The economic outlook remains uncertain, with major central banks implementing monetary tightening policies, impacting consumer purchasing power[5]. - The group aims to maintain and enhance the attractiveness, reputation, and customer loyalty of its products to improve future profitability[6]. - The group is committed to developing and optimizing its core eyewear business while exploring new business opportunities for revenue diversification[6]. - The group will continue to adjust its marketing strategies in response to the economic environment, particularly in the Eurozone[6]. Operational Insights - The group continues to operate two main production bases in Shenzhen and Jiangxi, China, allowing for the manufacturing of various sizes and specifications of eyewear products[5]. - The group operates under ODM and OEM business models, providing comprehensive and customized services including product design, raw material procurement, production, quality control, packaging, and delivery[5]. - The company continues to focus on the design, production, and sale of eyewear products as its single operating segment[57]. - The company has not disclosed any new product developments or market expansion strategies during this reporting period[56].

Financial Performance - The company recorded a net profit of HKD 1,400,000 for the year 2023, a decrease from HKD 9,200,000 in 2022, reflecting the challenging global economic environment [7]. - Total revenue for 2023 was HKD 393,284,000, down from HKD 465,430,000 in 2022, indicating a decline of approximately 15.5% [11]. - Gross profit for 2023 was HKD 56,979,000, compared to HKD 76,017,000 in 2022, representing a decrease of about 25.1% [11]. - Operating profit for 2023 was HKD 3,831,000, a significant decline from HKD 11,396,000 in 2022 [11]. - The net profit for the year ended December 31, 2023, was approximately HKD 1,400,000, a decrease of about HKD 7,800,000 or 84.8% from HKD 9,200,000 for the year ended December 31, 2022 [31]. - The company's gross profit decreased by approximately HKD 19,000,000 or 25.0% to about HKD 57,000,000, with the overall gross margin declining from 16.3% to 14.5% due to a drop in average selling prices and additional costs incurred during the relocation of leased factories [21]. - The company reported other income of HKD 18,212,000 in 2023, a notable increase from HKD 9,256,000 in 2022, reflecting a growth of approximately 96.5% [11]. - Other income increased to approximately HKD 18,200,000 for the year ended December 31, 2023, from HKD 9,300,000 in the previous year, primarily due to compensation received from the demolition of leased factories [22]. Business Strategy and Outlook - The company plans to maintain a cautious yet optimistic outlook for short-term business development in 2024, focusing on stability and effective growth [8]. - The company aims to seek new business opportunities for better diversification in the future [8]. - The company anticipates a slow recovery in the European economy, with the Eurozone GDP growth rate projected to rise to 0.9% [14]. - The company is actively implementing cost-saving measures and optimizing its supply chain to mitigate adverse financial impacts [14]. - The company aims to diversify its business and revenue sources to reduce potential risks and uncertainties [18]. Assets and Liabilities - Total assets as of December 31, 2023, were HKD 264,004,000, a slight increase from HKD 251,896,000 in 2022 [12]. - Total liabilities increased to HKD 80,813,000 in 2023 from HKD 65,324,000 in 2022, indicating a rise of approximately 23.8% [12]. - The net asset value as of December 31, 2023, was approximately HKD 183.2 million, down from HKD 186.6 million in 2022 [34]. - The group's debt-to-equity ratio increased to approximately 8.3% as of December 31, 2023, compared to 1.1% in 2022 [34]. - Cash and bank balances decreased to approximately HKD 20.3 million as of December 31, 2023, from HKD 46.4 million in 2022, a reduction of approximately HKD 26.1 million [35]. - The current ratio as of December 31, 2023, was approximately 3.1 times, down about 8.8% from 3.4 times at the end of 2022 [34]. - The quick ratio decreased to approximately 2.0 times as of December 31, 2023, down about 13.0% from 2.3 times at the end of 2022 [34]. Corporate Governance - The company has adopted the corporate governance code and believes it has complied with all applicable provisions for the year ending December 31, 2023 [76]. - All independent non-executive directors confirmed their independence according to the listing rules [88]. - The company’s governance practices are regularly reviewed to meet stakeholder expectations and regulatory requirements [75]. - The roles of the chairman and CEO are clearly separated to ensure effective governance [84]. - The company has a commitment to high standards of corporate governance to protect shareholder interests and enhance corporate value [76]. - The board of directors is collectively responsible for guiding and supervising the company's affairs, ensuring effective internal control and risk management systems [92]. - At least one-third of the board members are independent non-executive directors, ensuring independent viewpoints and opinions [93]. - The audit committee, composed of three independent non-executive directors, reviewed and monitored the group's financial reporting procedures and internal control effectiveness during the year [100]. - The company held three audit committee meetings in the fiscal year, discussing interim and annual financial statements and recommending the reappointment of auditors [101]. - The remuneration committee, primarily composed of independent non-executive directors, reviews and provides recommendations on the remuneration of directors and senior management [103]. - The company encourages continuous professional development for all directors, ensuring they remain informed about regulatory developments [95]. - The board has established four committees: audit, remuneration, nomination, and risk management, to oversee specific aspects of the company's affairs [98]. Shareholder Information - The company has a significant shareholding structure, with both Mr. Guo Junhui and Mr. Guo Junyu holding 275,952,000 shares each, representing 55.19% of the total shares [162]. - The major shareholder, Top Peak, holds 275,952,000 shares, representing approximately 55.19% of the company's equity [168]. - The beneficial ownership of Top Peak is distributed as follows: Mr. Guo Junhui (49%), Mr. Guo Junyu (49%), and Mrs. Guo (2%) [166]. - The company has established service contracts for its executive and non-executive directors, with a term of three years for executive directors and one year for independent non-executive directors [152]. - The annual general meeting is scheduled for May 29, 2024, with a suspension of share transfer registration from May 23 to May 29, 2024 [147]. - The company has confirmed the independence of its independent non-executive directors as of the report date [150]. - The company has not purchased, sold, or redeemed any of its listed securities during the fiscal year ending December 31, 2023 [144]. - The company has not been informed of any tax relief available to shareholders for holding its securities [146]. - The board of directors is responsible for considering various factors when determining dividend recommendations, including the company's current and future business performance and financial condition [121]. - The company maintains effective communication with shareholders and potential investors through various channels, including its website [130]. Future Plans and Developments - The company provided guidance for the next fiscal year, projecting revenue growth of 25% to $187.5 million [59]. - New product launches are expected to contribute an additional $30 million in revenue, with a focus on innovative eyewear technology [59]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years [59]. - A strategic acquisition of a local competitor is anticipated to enhance the company's production capabilities and market reach, expected to close by Q3 2024 [59]. - Research and development expenses increased by 18%, totaling $5 million, to support new technology initiatives [59]. - The company plans to enhance its online sales platform, aiming for a 30% increase in e-commerce revenue [59]. - Operational efficiency improvements are projected to reduce costs by 12%, contributing to overall profitability [59]. - The management team emphasized a commitment to sustainability, with plans to implement eco-friendly materials in 50% of new products by 2025 [59].

Financial Performance - For the year ended December 31, 2023, total revenue decreased to HKD 393,284,000 from HKD 465,430,000, representing a decline of approximately 15.5%[4] - Gross profit for the same period was HKD 56,979,000, down from HKD 76,017,000, indicating a decrease of about 25.1%[4] - Operating profit fell to HKD 3,831,000 compared to HKD 11,396,000 in the previous year, a decline of approximately 66.4%[4] - The net profit attributable to shareholders decreased significantly to HKD 1,388,000 from HKD 9,183,000, reflecting a drop of around 84.9%[4] - Basic and diluted earnings per share decreased to HKD 0.28 cents from HKD 1.84 cents, a reduction of approximately 84.8%[6] - The annual profit for the group in 2023 was HKD 1,388,000, compared to HKD 9,183,000 in 2022, reflecting a significant decrease[37] - The net profit for the year decreased by approximately HKD 7.8 million or 84.8% to about HKD 1.4 million, mainly due to reduced marketing revenue and profit margins from eyewear products[74] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 212,668,000, slightly down from HKD 221,846,000 in the previous year[8] - The company's cash and cash equivalents decreased to HKD 20,334,000 from HKD 46,403,000, a decline of about 56.3%[8] - Non-current liabilities increased significantly to HKD 12,670,000 from HKD 983,000, indicating a rise of approximately 1,287.4%[9] - The company's asset-liability ratio increased to 8.3% as of December 31, 2023, up from 1.1% in 2022, primarily due to an increase in lease liabilities[56] - As of December 31, 2023, the company's total assets were approximately HKD 264 million, with a net asset value of about HKD 183.2 million[76] Revenue Sources - Revenue from the sale of eyewear products for the year ended December 31, 2023, was reported at HKD 393,284,000, a decrease from HKD 465,430,000 in 2022, representing a decline of approximately 15.5%[23] - Revenue contributions from major customers included Customer A at HKD 102,432,000, Customer B at HKD 50,763,000, and Customer C at HKD 45,541,000 for 2023[26] Costs and Expenses - The cost of goods sold for 2023 was HKD 331,349,000, down from HKD 384,128,000 in 2022, indicating a reduction of approximately 13.8%[35] - The group’s employee costs for 2023 were HKD 123,118,000, down from HKD 128,282,000 in 2022, reflecting a decrease of approximately 4.0%[35] - The company recorded a net finance cost increase of approximately HKD 1 million or 142.9% to about HKD 1.7 million, attributed to the use of higher interest trade receivable factoring[72] Other Income and Expenses - Other income increased to HKD 18,212,000 in 2023 from HKD 9,256,000 in 2022, primarily due to a one-time economic compensation of HKD 10,932,000 received from the demolition of leased property[27] - The income tax expense for 2023 was HKD 790,000, compared to HKD 1,498,000 in 2022, reflecting a decrease of approximately 47.3%[30] Inventory and Receivables - Inventory levels increased to HKD 74,764,000 from HKD 71,183,000, reflecting a rise of about 5.5%[8] - Trade receivables increased to HKD 109,558,000 in 2023 from HKD 96,373,000 in 2022, representing a growth of about 13.7%[38] - The group reported a decrease in impairment losses on trade receivables, with a loss of HKD 491,000 in 2023 compared to HKD 601,000 in 2022[38] Accounting Standards and Policies - The group adopted the revised Hong Kong Accounting Standard No. 12, which narrowed the scope of initial recognition exemptions, excluding transactions that generate equal and offsetting temporary differences related to leases[15] - The impact of the revised standard on deferred tax assets and liabilities is minor, with no significant effect on the overall deferred tax balance presented in the consolidated financial position[17] - The group expects that the adoption of other new accounting standards will not have a significant impact on the consolidated financial statements in the foreseeable future[19] - The group has not early adopted any new or revised accounting standards that are not yet effective, with the next set of standards effective from January 1, 2024[19] Market and Strategic Outlook - The global eyewear market value reached USD 159.6 billion in 2023, reflecting a year-on-year growth of 6.9%[59] - The company faced an 84.9% decline in profitability in 2023 due to challenges such as decreased consumer purchasing power and rising labor costs[59] - The company is actively implementing cost-saving measures and optimizing its supply chain to mitigate adverse financial impacts[59] - The company remains vigilant regarding market trends and consumer behavior, planning to adopt strategies to mitigate potential risks and capitalize on opportunities for business diversification[61] Corporate Governance - The executive directors of the company are Mr. Guo Junhui and Mr. Guo Junyu[109] - The non-executive directors include Mr. Guo Maoqun and Ms. Chen Yanhua[109] - The independent non-executive directors are Mr. Kang Shilong, Mr. Zhu Jianming, and Mr. Chen Hanhua[109] Dividends and Shareholding - The board does not recommend the payment of a final dividend for the year ended December 31, 2023[101] - The company has a public shareholding of 44.8% as of December 31, 2023, meeting the requirement to maintain at least 25% public float for its listing[47] - The company has no declared or paid dividends for the years ending December 31, 2022, and December 31, 2023[48]

於開曼群島註冊成立的有限公司 股份代號 : 1134 中期報告 Interim Report 2023 2023 Incorporated in the Cayman Islands with limited liability Stock code:1134 Interim Report 2023 中期報告 C M Y CM MY CY CMY K 康仕龍先生 朱健明先生 陳漢華先生 公司秘書 梁佳穎女士 目錄 02 公司資料 03 管理層討論及分析 10 企業管治 11 其他資料 16 簡明綜合損益及其他全面收益表 17 簡明綜合財務狀況表 19 簡明綜合權益變動表 20 簡明綜合現金流量表 21 簡明綜合中期財務資料附註 公司資料 ai169327068910_Kelfred IR2023 Cover 4.5mm OP.pdf 1 29/8/2023 上午8:58 執行董事 郭君暉先生 郭君宇先生 非執行董事 郭茂群先生 陳燕華女士 獨立非執行董事 授權代表 郭君暉先生 梁佳穎女士 審核委員會 朱健明先生 （主席） 康仕龍先生 陳漢華先生 薪酬委員會 陳漢華先生 （主席） 朱健明先生 康仕龍先生 郭君暉 ...

香港交易及結算所有限公司以及香港聯合交易所有限公司（「聯交所」）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，並明確表示不會就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。 KELFRED HOLDINGS LIMITED 恒發光學控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1134） 截至二零二三年六月三十日止六個月的 中期業績公告 恒發光學控股有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其附 屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月的未經審核簡明 綜合財務業績。本公告列載本公司截至二零二三年六月三十日止六個月的中 期報告（「中期報告」）全文，符合聯交所證券上市規則中有關未經審核中期業績 初步公告附載資料的相關要求。中期報告的印刷版本將於適當時候寄發予本 公司的股東，並於網站www.hkexnews.hk 及本公司的網站www.kelfred.com.hk 上 可供查閱。 承董事會命 恒發光學控股有限公司 主席兼執行董事 郭君暉 香港，二零二三年八月廿九日 ...

於開曼群島註冊成立的有限公司 股份代號 : 1134 年報 Annual Report 2022 2022 Incorporated in the Cayman Islands with limited liability Stock code:1134 Annual Report 2022 年報 CMY CM MY CY CMY K ai168204263652_Kelfred AR2022 Cover_13.5mm_OP.pdf 1 21/4/2023 上午10:03 目 錄 2 公司資料 3 主席報告 4 五年財務概要 5 管理層討論及分析 13 董事及高級管理層履歷 17 企業管治報告 28 董事會報告 46 獨立核數師報告 51 綜合損益及其他全面收益表 52 綜合財務狀況表 54 綜合權益變動表 55 綜合現金流量表 57 綜合財務報表附註 公司資料 執行董事 郭君暉先生 （主席） 郭君宇先生 （行政總裁） 左正三先生 （於二零二二年十二月九日辭任） 非執行董事 郭茂群先生 陳燕華女士 張利先生 （於二零二二年九月十九日辭任） 獨立非執行董事 康仕龍先生 朱健明先生 陳漢華先生 公司秘書 梁佳穎女 ...

香港交易及結算所有限公司以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，並明確表示不會就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。 KELFRED HOLDINGS LIMITED 恒發光學控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1134） 截至二零二二年十二月三十一日止年度的全年業績公告 恒發光學控股有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其附 屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度的經審核綜合 財務業績，連同截至二零二一年十二月三十一日止年度的比較數字。 ...