恒发光学(01134)发布截至2025年6月30日止6个月业绩，该集团期内取得收益2.43亿港元，同比增加 22.85%;公司拥有人应占亏损471.7万港元，同比收窄61.49%;每股基本亏损0.94港仙。 ...

格隆汇8月26日丨恒发光学(01134.HK)发布公告，截至2025年6月30日止六个月，集团的收益增加约 22.8%至约242,500,000港元。增加主要由于销售订单增加带动光学眼镜架及太阳眼镜的出口销量整体有 所增加。整体毛利率由上年同期约9.0%提升至期间约12.9%。集团录得亏损净额由过往期间约 12,300,000港元减少约7,600,000港元或61.8%至本期间约4,700,000港元。 ...

智通财经APP讯，恒发光学(01134)发布截至2025年6月30日止6个月业绩，该集团期内取得收益2.43亿港 元，同比增加22.85%;公司拥有人应占亏损471.7万港元，同比收窄61.49%;每股基本亏损0.94港仙。 ...

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） 截至二零二五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」）截至二零二五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二零二五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，二零二五年八月二十六日 於本公告日期，執行董事為郭君暉先生及郭君宇先生；非執行 ...

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不承擔任何責任， 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） 盈利預警 — 虧損減少 及 董事會會議日期 盈利預警 — 虧損減少 本公告乃根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」） 第13.09條及香港法例第571章證券及期貨條例第XIVA部的內幕消息條文（定義 見上市規則）刊發。 恒發光學控股有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事會 （「董事會」）謹此知會本公司股東及潛在投資者，根據對本集團截至二零二五 年六月三十日止六個月（「本報告期間」）的未經審核綜合管理賬目的初步審閱 以及董事會目前可得的資料，本公司預期本報告期間將錄得淨虧損約港幣470 萬元，而截至二零二四年六月三十日止六個月（「前報告期間」）則錄得淨虧損 約港幣1,230萬元。 承董事會命 恒發光學控股有限公司 董事會認為 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 恒發光學控股有限公司 (於開曼群島註冊成立的有限公司) 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01134 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 2,000,000,000 | | HKD | | 0.01 HKD | | 20,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | 本 ...

Industry Overview - The demand for eyeglass frames in China is increasing due to rising income levels and changing consumer preferences, leading to higher expectations for quality, design, and functionality [1][11] - In the first five months of 2025, the import value of eyeglass frames reached 660 million yuan, a year-on-year increase of 7.3%, while the export value was 4.782 billion yuan, a year-on-year decrease of 4.43% [1][11] - The trend of consumption upgrading is driving consumers to prefer international brands, lightweight materials (such as pure titanium and carbon fiber), and functional frames (like smart glasses and sports protective frames) [1][11] - The global eyewear market is experiencing slower growth, impacting the eyeglass frame market, but high-value products like smart and customized frames are seeing growth, indicating a shift from "scale expansion" to "value enhancement" in the industry [1][11] Industry Development History - The Chinese eyeglass frame industry has evolved through four main stages: the embryonic stage (1950s-1970s), growth stage (1980s-1990s), rapid development (2000-2010), and full competition (2010-present) [4][5] - The industry began with handmade production and limited product variety, transitioning to a more diverse and quality-focused market with the introduction of foreign brands and new materials [4][5] - Technological advancements have significantly improved materials, design, and functionality, enabling domestic companies to compete with international brands [4][5] Industry Chain - The upstream of the eyeglass frame industry includes raw materials (metal and non-metal materials) and production equipment, while the midstream focuses on manufacturing [8] - The downstream primarily serves the eyewear industry, indicating a well-structured supply chain [8] Current Industry Status - The eyeglass frame industry is characterized by a mix of diversified and concentrated competition, with leading companies and emerging brands shaping the market dynamics [13] - Notable companies include LUXOTTICA, which offers a wide range of products, and domestic firms like Zhongshan Tuokai Optical, focusing on high-cost performance products [13] Key Companies' Performance - Companies like Wanxin Optical and Hengfa Optical are significant players in the industry, with Wanxin being a leading manufacturer in Asia and Hengfa focusing on precision manufacturing and rapid response capabilities [14][15] - Wanxin Optical has a production capacity of over 3.5 million frames annually and exports to nearly 40 countries, while Hengfa Optical has a strong presence in the European market [14][15] Industry Development Trends - The industry is witnessing a shift towards smart and multifunctional products driven by technological innovation, with products like AR glasses gaining traction [17] - Consumer preferences are evolving towards personalized and high-end products, with companies offering customization services to enhance brand loyalty [19] - The global competitiveness of the Chinese eyeglass frame industry is increasing, with exports reaching 30.441 billion yuan in 2024, indicating a transition from "OEM export" to "brand expansion" [20]

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].