香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 (於香港註冊成立的有限公司) (股份代號: 01203) 截至2023年6月30日止六個月 之中期業績公告 粵海廣南（集團）有限公司（「本公司」）之董事（「董事」）會（「董事會」） 欣然提呈本公司及其附屬公司（統稱「本集團」）截至2023年6月30日止六個月之 中期業績。 截至 6 月 30 日止六個月未經審核之財務摘要 2023年 2022年 千港元 千港元 變動 收入 4,989,459 3,379,641 47.6% ...

Corporate Governance - The board held a total of twelve meetings during the year ended December 31, 2022[1] - The nomination committee held two meetings to assess the board's structure and diversity policy during the year ended December 31, 2022[14] - The company aims to enhance corporate governance and transparency by publishing unaudited quarterly financial information during the fiscal year ended December 31, 2022[17] - The company emphasizes the importance of a diverse board for achieving strategic goals and sustainable development[6] - The company has established a clear organizational structure with designated authority and responsibility boundaries[18] Financial Performance - Total revenue for 2022 was HKD 8,311,752 thousand, a significant increase from HKD 4,855,567 thousand in 2021, reflecting a growth of approximately 71.5%[46] - Gross profit for 2022 was HKD 558,379 thousand, compared to HKD 463,453 thousand in 2021, indicating a gross margin improvement[46] - Operating profit for 2022 reached HKD 277,034 thousand, up from HKD 155,302 thousand in 2021, representing an increase of 78.3%[46] - The net profit attributable to equity holders for 2022 was HKD 135,673 thousand, compared to HKD 54,062 thousand in 2021, marking an increase of 150.5%[46] - Basic and diluted earnings per share for 2022 were both 14.9 cents, compared to 6.0 cents in 2021, reflecting a substantial increase[46] Assets and Equity - Total assets as of December 31, 2022, amounted to HKD 3,162,750 thousand, compared to HKD 3,038,448 thousand in 2021, showing growth in asset base[50] - The company reported a total equity of HKD 2,783,913 thousand as of December 31, 2022, down from HKD 2,908,329 thousand in 2021, indicating a decrease in total equity[51] - The company's total equity as of December 31, 2022, was HKD 2,783,913,000, compared to HKD 2,784,408,000 at the end of 2021, showing a slight decrease[54] Cash Flow and Liquidity - The company’s cash and cash equivalents increased to HKD 1,211,631 thousand in 2022 from HKD 969,210 thousand in 2021, reflecting improved liquidity[50] - The operating cash flow for 2022 was HKD 203,078,000, significantly higher than HKD 81,195,000 in 2021, indicating improved operational efficiency[57] - The net increase in cash and cash equivalents was HKD 290,899 thousand, up from HKD 59,452 thousand in the prior year, showcasing significant liquidity improvement[58] Investments and Acquisitions - The acquisition of Yuehai Food Zhuhai was identified as a key audit matter due to its significant impact on the consolidated financial statements[27] - The company acquired 100% of the equity of Guangdong Food (Zhuhai) for a consideration of RMB 186.1 million (equivalent to HKD 208.4 million) as of December 31, 2022[38] - The acquisition resulted in goodwill of HKD 60.5 million, which represents the excess of the consideration paid over the fair value of identifiable net assets acquired[38] Financial Liabilities and Costs - The company experienced a significant increase in financing costs, which rose to HKD 19,195,000 in 2022 from HKD 704,000 in 2021[57] - Bank borrowings increased significantly to HKD 611,158 thousand in 2022 from HKD 271,628 thousand in 2021, indicating a strategic move to leverage debt for growth[58] - Non-current liabilities from bank borrowings rose to HKD 217,586 thousand in 2022, up from HKD 72,207 thousand in the previous year, reflecting increased long-term financing[71] Taxation and Deferred Tax - The company reported a significant increase in deferred tax assets and liabilities, with the assessment of their recoverability conducted at each reporting period end[198] - Deferred tax assets are only recognized if it is probable that sufficient taxable profits will be available to utilize the tax benefits[198] - The current tax liabilities and deferred tax liabilities are presented separately, with no offsetting allowed[199] Inventory and Cost Management - The company reported a decrease in inventory increase to HKD 75,277,000 in 2022 from HKD 152,375,000 in 2021, suggesting better inventory management[57] - Inventory is recorded at the lower of cost and net realizable value, with any impairment losses recognized in the period they occur[173] Accounting Policies and Standards - The company has not adopted any new accounting standards that would significantly impact the financial reporting for the current or prior periods, ensuring consistency in financial statements[62] - The group recognizes right-of-use assets at cost, which includes the initial amount of lease liabilities and any initial direct costs incurred[96] - The group measures expected credit losses as a probability-weighted estimate of credit losses, calculated as the present value of all expected cash shortfalls[158]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 (於香港註冊成立的有限公司) (股份代號: 01203) 截至2022年12月31日止年度 之全年業績公告 截至 12 月 31 日止年度之財務摘要 2022年 2021年 千港元 千港元 變動 收入 8,311,752 4,855,567 71.2% 經營溢利 277,034 155,302 78.4% ...

Financial Performance - For the nine months ended September 30, 2022, the company's unaudited consolidated revenue was HKD 5,814,620,000, an increase of 76.9% compared to HKD 3,286,849,000 in the same period last year[3] - The operating profit for the same period was HKD 226,383,000, reflecting a 99.8% increase from HKD 113,279,000 year-on-year[3] - The profit attributable to shareholders was HKD 122,247,000, which is a 130.2% increase compared to HKD 53,105,000 in the previous year[3] Assets and Equity - The total assets as of September 30, 2022, were HKD 4,396,781,000, a 3.4% increase from HKD 4,250,775,000 at the end of 2021[3] - The equity attributable to shareholders decreased by 4.9% to HKD 2,549,021,000 from HKD 2,679,224,000[3] Business Segments - The fresh food business generated revenue of HKD 3,488,146,000, a significant increase of 238.6% year-on-year[7] - The fresh food segment's profit increased by 56.3% to HKD 94,908,000 despite a loss of HKD 26,606,000 from two joint ventures[7] - The tinplate business produced 221,000 tons of products, a decrease of 8.0%, while sales were 226,000 tons, down 6.6% year-on-year[9] - The tinplate segment recorded revenue of HKD 2,312,139,000, a slight increase of 3.1%, with segment profit rising by 104.0% to HKD 122,196,000[9] Market Challenges - The company anticipates ongoing challenges due to price fluctuations in pork and demand variability in the tinplate sector[11]

Financial Performance - The company's revenue for the first half of 2022 was HKD 3,379,641,000, an increase of 78.4% compared to HKD 1,894,942,000 in the same period last year[14]. - Operating profit rose to HKD 129,249,000, reflecting a 96.0% increase from HKD 65,940,000 year-on-year[14]. - Shareholders' profit attributable to the company was HKD 62,051,000, up 31.6% from HKD 47,146,000 in the previous year[12]. - Basic earnings per share increased to HKD 0.068, a 30.8% rise from HKD 0.052 in the same period last year[12]. - Gross profit for the same period was HKD 292,818,000, up 58.4% from HKD 185,172,000 year-on-year[43]. - The net profit attributable to the company's shareholders was HKD 62,051,000, a 31.5% increase from HKD 47,146,000 in the prior year[43]. - The company reported a consolidated profit before tax of HKD 93,212,000, up from HKD 60,025,000 in the previous year, indicating a growth of 55.2%[80]. Revenue Breakdown - Fresh food business revenue accounted for 52.9% of total revenue, amounting to HKD 1,788,677,000, a significant increase of 242.5% year-on-year[16]. - Revenue from tinplate business accounted for 46.8% of the group's total revenue, with total revenue of HKD 1,580,164,000, an increase of HKD 218,167,000 or 16.0% year-on-year[20]. - Fresh food sales surged to HKD 1,719,719,000, a remarkable increase of 272.5% from HKD 461,524,000 in the prior year[76]. - Sales of tinplate products amounted to HKD 1,580,164,000, up 16.0% from HKD 1,361,997,000 in the previous year[79]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.010 per share, unchanged from the previous year[13]. - The group declared an interim dividend of HKD 9,076,000 for the period, maintaining the same dividend per share of 1.0 cent as in the previous year[115]. Assets and Liabilities - Total assets as of June 30, 2022, were HKD 4,245,357,000, a slight decrease of 0.1% from HKD 4,250,775,000 at the end of 2021[8]. - Total liabilities increased to HKD 1,480,180,000 from HKD 1,342,446,000 at the end of 2021, representing an increase of 10.3%[82]. - Shareholders' equity decreased by 1.2% to HKD 2,648,134,000 from HKD 2,679,224,000 at the end of 2021[8]. - The company's inventory increased to HKD 575,813,000, compared to HKD 478,919,000 in the previous year, marking a rise of 20.2%[52]. Cash Flow and Financing - The group’s cash and cash equivalents as of June 30, 2022, were HKD 756,550,000, a decrease of 21.9% from the end of 2021[25]. - The cash used in operating activities for the six months ended June 30, 2022, was HKD (114,741,000), compared to HKD (53,756,000) for the same period in 2021, indicating a significant increase in cash outflow[62]. - The company’s financing activities generated a net cash inflow of HKD 24,879,000 for the six months ended June 30, 2022, compared to HKD 169,237,000 in the same period of 2021[62]. - The group’s available bank financing as of June 30, 2022, was HKD 2,756,405,000, an increase from HKD 2,018,038,000 at the end of 2021[27]. Operational Highlights - The company processed over 530,000 live pigs in the first half of 2022, contributing to new profit growth points[15]. - The group successfully opened a slaughterhouse in Nanhai, Foshan, contributing to stable operations and profitability in the fresh food sector[38]. - The group plans to strengthen its fresh food business by investing in an integrated supply chain platform, focusing on the Guangdong-Hong Kong-Macao Greater Bay Area[37]. Strategic Initiatives - The group aims to enhance its operational efficiency and profitability through strategic adjustments in response to economic challenges, including the impact of the COVID-19 pandemic[38]. - The company continues to implement a performance-based bonus incentive mechanism for management, linking bonuses to net cash inflow and after-tax profit[35]. - The group is committed to exploring new business models, including e-commerce and new retail strategies, to drive growth in the fresh food sector[37]. Employee and Operational Costs - Employee costs increased to HKD 132,230,000 for the six months ended June 30, 2022, compared to HKD 107,412,000 in the previous year, reflecting a rise of about 23.1%[87]. - Research and development expenses surged to HKD 59,756,000 in the first half of 2022, up from HKD 17,786,000 in the same period of 2021, marking an increase of approximately 236.5%[87]. Other Financial Metrics - The company recorded a foreign exchange loss of HKD 109,316,000 during the period, impacting overall comprehensive income negatively[57]. - The company reported a tax expense of HKD 21,128,000 for the six months ended June 30, 2022, compared to HKD 6,023,000 in the same period of 2021, representing an increase of approximately 251.5%[87]. - The total comprehensive income for the period was a loss of HKD 45,139,000, a significant decline from a gain of HKD 72,342,000 in the previous year[49].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 (於香港註冊成立的有限公司) (股份代號: 01203) 截至2022年3月31日止三個月之 未經審核季度業績公告 此公告為粵海廣南（集團）有限公司（「本公司」）自願性披露，以務求進一步提 升企業管治的水平，並加強其透明度。 | --- | --- | --- | --- | |--------------|----------------------------------------------|------------------------------------------------------|--------| | | | | | | 財務摘要 | | | | | | 截至 3 月 | 31 日止三個月 | | | | 2022 年 | 2021 年 | | | | (未經審核 | ) ( 未經審核 ) | | | | | 千港元 千港元 | 變動 | | 收入 | 1,411,834 ...

Financial Performance - The company's total revenue for 2021 was HKD 4,855,567,000, an increase of 91.3% compared to HKD 2,538,001,000 in 2020[8]. - Operating profit rose to HKD 155,302,000, reflecting a 132.2% increase from HKD 66,878,000 in the previous year[8]. - Shareholders' profit attributable to the company decreased by 22.7% to HKD 54,062,000 from HKD 69,899,000 in 2020[11]. - The basic earnings per share were HKD 0.060, down 22.1% from HKD 0.077 in 2020[11]. - Net profit for the year was HKD 71,529, a decrease of 1.9% compared to HKD 72,892 in 2020[189]. - Total comprehensive income for the year was HKD 146,611, compared to HKD 185,691 in 2020, reflecting a decrease of 21.0%[189]. Revenue Segments - Revenue from the tinplate business increased by 47.6% to HKD 3,122,513,000, with segment profit rising by 877.3% to HKD 84,943,000[14]. - In 2021, the fresh food business generated revenue of HKD 1,710,826,000, an increase of HKD 1,307,821,000 or 324.5% compared to 2020[24]. - The property leasing business achieved a rental rate of 91.2%, up by 9.1 percentage points from 2020, generating revenue of HKD 22,228,000, a 14.9% increase[28]. Market Position - The company achieved a market share of approximately 47% in the live pig supply market for Hong Kong, with a slaughter volume exceeding 490,000 heads[13]. - The group maintained a market share of approximately 47% in the live pig supply market for Hong Kong, supported by the expansion of domestic frozen meat wholesale and retail businesses[25]. Assets and Liabilities - Total assets increased by 28.2% to HKD 4,250,775,000 from HKD 3,315,440,000 in 2020[9]. - Total liabilities increased significantly to HKD 1,212,327 from HKD 492,721 in the previous year, marking a rise of 146.0%[192]. - The company reported a significant increase in inventory, which reached HKD 478,919, up from HKD 315,091 in 2020, a growth of 52.0%[192]. Dividends - The company proposed a final dividend of HKD 0.015 per share for the 2021 fiscal year[12]. - The company reported a mid-term dividend of HKD 0.01 per share for 2021, consistent with 2020, and proposed a final dividend of HKD 0.015 per share, also unchanged from the previous year[57]. - The proposed final dividend is expected to be paid on July 15, 2022, if approved at the annual general meeting[57]. Strategic Initiatives - The group plans to strengthen its fresh food business by investing in an integrated supply chain from livestock farming to cold chain logistics and fresh marketing[17]. - The group aims to explore new business models such as e-commerce and new retail to enhance its sales network across the Guangdong-Hong Kong-Macao Greater Bay Area[19]. - The group completed a capital increase in Guangdong Baojin Livestock Co., Ltd. to strengthen its control over pig farming and expand its modern agricultural industry chain[18]. Governance and Management - The company’s board of directors includes experienced professionals with backgrounds in finance and management, enhancing its governance structure[49][50][51]. - The board consists of seven members, including three independent non-executive directors, contributing to a diverse governance structure[135]. - The company has established a remuneration committee to oversee the compensation of directors and management, ensuring transparency and accountability[141]. Environmental and Compliance - The company emphasizes the importance of environmental protection and compliance with national environmental laws in its operations[66]. - The company has adopted effective environmental protection technologies and measures to ensure compliance with environmental standards[80]. Risks and Challenges - The company faces risks related to the net realizable value of inventory being lower than cost due to price fluctuations in tinplate products, particularly from industry oversupply and intense competition[170]. - Raw material costs accounted for 82% of total production costs in the tinplate business, indicating significant exposure to raw material price fluctuations[66].

Financial Performance - The company's total revenue for the first half of 2021 was HKD 1,894,942,000, representing a 67.7% increase from HKD 1,130,089,000 in the same period last year[7]. - Operating profit for the first half of 2021 was HKD 65,940,000, up 66.4% from HKD 39,638,000 year-on-year[7]. - Shareholders' profit attributable to the company was HKD 47,146,000, a slight increase of 1.1% compared to HKD 46,610,000 in the previous year[10]. - The basic earnings per share rose to 5.2 HK cents, up 2.0% from 5.1 HK cents in the same period last year[10]. - Total comprehensive income for the period was HKD 72,342 thousand, significantly higher than HKD 12,366 thousand in the prior year[49]. - The net profit attributable to equity holders of the company was HKD 54,002,000 for the six months ended June 30, 2021, compared to a loss of HKD 33,433,000 in the same period of 2020[59]. - The company reported a consolidated profit before tax of HKD 60,025,000, compared to HKD 55,195,000 in the previous year, indicating a growth of 8.3%[83]. Revenue Breakdown - The fresh food business saw revenue of HKD 522,184,000, a significant increase of 204.5% year-on-year, despite a decrease in profit due to falling live pig prices[12]. - The tinplate business reported revenue of HKD 1,361,997,000, an increase of 43.6%, with a profit increase of 140.3% year-on-year[13]. - Fresh food business revenue accounted for 27.6% of the group's total revenue, with a 204.5% increase to HKD 522,184,000 in the first half of 2021 compared to the same period last year[17]. - Revenue for the six months ended June 30, 2021, was HKD 1,894,942,000, a significant increase of 67.5% compared to HKD 1,130,089,000 for the same period in 2020[78]. - The sales of tinplate products reached HKD 1,361,997,000, up 43.5% from HKD 948,426,000 in the previous year[81]. - The revenue from fresh food increased to HKD 475,610,000, compared to HKD 130,637,000 in the same period last year, marking a growth of 263.5%[78]. Market Position - The overall market share for live pigs supplied to Hong Kong was approximately 47% in the first half of 2021[12]. - The group maintained a market share of approximately 47% in the live pig supply market for Hong Kong, supported by the expansion of domestic frozen meat wholesale and slaughtering businesses[17]. Assets and Liabilities - The group reported total assets of HKD 3,930,851,000 and total liabilities of HKD 1,087,715,000 as of June 30, 2021, reflecting increases of HKD 615,411,000 and HKD 556,683,000 respectively since the end of 2020[25]. - Current assets increased to HKD 2,463,901 thousand from HKD 1,964,206 thousand, indicating a growth of 25.4%[52]. - Total liabilities increased to HKD 1,033,491 thousand from HKD 492,721 thousand, indicating a significant rise in financial obligations[54]. - The group's total liabilities increased to HKD 791,442,000 as of June 30, 2021, compared to HKD 429,885,000 on December 31, 2020, marking a rise of 84.2%[111]. Cash Flow and Capital Expenditure - Cash and cash equivalents amounted to HKD 893,170,000, a slight decrease of 0.2% from the end of 2020, with 79.0% in RMB[26]. - Capital expenditure for the first half of 2021 was HKD 123,459,000, significantly higher than HKD 13,432,000 in the same period last year, with total capital commitments of HKD 557,580,000[27]. - The net cash used in operating activities for the six months ended June 30, 2021, was HKD 53,756,000, a decline from the net cash generated of HKD 14,784,000 in the same period of 2020[64]. - The company incurred a cash outflow of HKD 123,865,000 for the purchase of property, plant, and equipment during the six months ended June 30, 2021, compared to HKD 11,403,000 in the same period of 2020[64]. Dividends - The company declared an interim dividend of 1.0 HK cent per share, unchanged from the previous year[11]. - The group declared an interim dividend of HKD 9,076,000 for the six months ended June 30, 2021, unchanged from the same period in 2020[115]. - The group approved a final dividend of HKD 13,614,000 for the previous fiscal year, down from HKD 27,228,000 in the prior year, reflecting a decrease of 50.0%[116]. Strategic Initiatives - The company aims to strengthen its fresh food business by investing in an integrated supply chain from livestock farming to cold chain logistics, focusing on the Guangdong-Hong Kong-Macao Greater Bay Area[37]. - The company plans to enhance its sales network by introducing e-commerce and new retail models, targeting a multi-level sales network across the "9+2" city cluster in the Greater Bay Area[39]. - The company is committed to improving product quality and technology in its tinplate business, aiming to become a leading service provider in the market[40]. - The company will continue to monitor market conditions and adjust its development strategies to mitigate risks associated with the ongoing COVID-19 pandemic and market fluctuations[40]. Employment and Human Resources - The company employed a total of 1,081 full-time employees as of June 30, 2021, an increase of 10 from 1,071 at the end of 2020[36]. - The group’s short-term employee benefits for key management personnel increased to HKD 1,668,000 in 2021 from HKD 1,184,000 in 2020[144]. Compliance and Governance - The company has maintained compliance with the Corporate Governance Code during the six months ending June 30, 2021[159]. - The company’s external auditor, KPMG, reviewed the unaudited interim financial report for the six months ending June 30, 2021[164].

Financial Performance - The total revenue for the year ended December 31, 2020, was HKD 2,538,001,000, an increase of 7.1% from HKD 2,369,724,000 in 2019[7]. - The operating profit decreased by 12.2% to HKD 66,878,000 from HKD 76,192,000 in 2019[7]. - The net profit attributable to shareholders increased by 28.9% to HKD 69,899,000 compared to HKD 54,213,000 in 2019[10]. - Basic earnings per share rose by 28.3% to HKD 0.077 from HKD 0.060 in 2019[10]. - Gross profit for the same period was HKD 259,415, up from HKD 225,483, reflecting a gross margin improvement[187]. - Operating profit decreased to HKD 66,878 from HKD 76,192, indicating a decline of 12.3% year-over-year[187]. - Net profit for the year was HKD 72,892, compared to HKD 54,167 in 2019, representing a growth of 34.5%[187]. - Total comprehensive income for the year was HKD 185,691, significantly higher than HKD 15,973 in 2019[191]. Revenue Breakdown - Revenue from tinplate products was HKD 2,115,643,000, an increase of 4.6% from the previous year[12]. - The sales volume of tinplate products increased by 14.6%, totaling an additional 39,641 tons compared to 2019[12]. - In the fresh food business, revenue reached HKD 403,005,000 in 2020, an increase of HKD 76,594,000 or 23.5% compared to 2019[21]. - The tinplate business accounted for 83.4% of total revenue, generating HKD 2,115,643,000 in 2020, an increase of 4.6% from 2019[20]. Profitability and Costs - The segment profit for tinplate products decreased significantly by 75.9% to HKD 8,692,000 from the previous year[12]. - Raw material costs accounted for 84% of total production costs in 2020, significantly impacting the company's profitability and operational performance[66]. - The company reported a loss on investment property valuation of HKD 16,800, compared to a minimal loss of HKD 10 in the previous year[187]. - Financing costs rose to HKD 2,831 from HKD 116, indicating a substantial increase in financial expenses[187]. Assets and Liabilities - Total assets increased by 8.8% to HKD 3,315,440,000 from HKD 3,046,807,000 in 2019[8]. - As of December 31, 2020, total assets were HKD 3,315,440,000, an increase of HKD 268,633,000 from the end of 2019, while total liabilities rose by HKD 68,750,000[27]. - Total liabilities increased from HKD 432,357,000 in 2019 to HKD 492,721,000 in 2020, an increase of 13.96%[197]. - Cash and cash equivalents decreased slightly from HKD 903,613,000 in 2019 to HKD 895,109,000 in 2020, a decline of 0.56%[194]. Shareholder Information - The company proposed a final dividend of HKD 0.015 per share, down from HKD 0.030 in the previous year, representing a decrease of 37.5%[11]. - The major shareholder, Yuehai Holdings, holds 59.19% of the company's shares, equivalent to 537,198,868 ordinary shares[100]. - As of December 31, 2020, the company had 907,593,285 ordinary shares issued, with a director holding 100,000 shares, representing approximately 0.011%[91]. - The company aims to provide stable and sustainable returns to shareholders through a dividend policy, proposing semi-annual dividends and potential special dividends based on financial performance and future outlook[58]. Corporate Governance - The company has established internal controls and management systems to monitor customer credit status and mitigate risks associated with accounts receivable[64]. - The board consists of seven members, including three independent non-executive directors, contributing to a diverse governance structure[133]. - The company has adopted a board diversity policy since August 22, 2013, focusing on factors such as gender, age, and professional experience to achieve diversity[130]. - The audit committee held four meetings during the year, reviewing the group's 2019 annual performance, 2020 interim performance, and quarterly results[147]. Strategic Initiatives - The company plans to extend its business chain in the agricultural food industry, focusing on slaughtering, cold chain transportation, food processing, and retail[15]. - The company will actively explore opportunities for strategic cooperation to enhance profitability and maximize shareholder value[16]. - The company aims to enhance its food safety supervision and adjust operational strategies in response to ongoing COVID-19 impacts[16]. Environmental and Social Responsibility - The company has adopted effective environmental protection technologies and measures to ensure compliance with environmental standards[82]. - The company is committed to sustainable development through stakeholder engagement, including employees, customers, and suppliers[85]. - The company plans to release an environmental, social, and governance report detailing its performance in these areas for the fiscal year[83].

Financial Performance - The group's revenue for the first half of 2020 was HKD 1,176,577,000, a decrease of 4.0% compared to HKD 1,130,089,000 in the same period last year[8]. - Operating profit decreased by 25.3% to HKD 39,638,000 from HKD 53,088,000 year-on-year[8]. - The net profit attributable to shareholders increased by 41.5% to HKD 32,949,000, up from HKD 46,610,000 in the previous year[11]. - Basic earnings per share rose by 41.7% to HKD 5.1 cents from HKD 3.6 cents year-on-year[8]. - The total revenue for the six months ended June 30, 2020, was HKD 1,130,089,000, a decrease of 3.9% compared to HKD 1,176,577,000 for the same period in 2019[49]. - Gross profit for the same period was HKD 119,355,000, down from HKD 129,430,000, reflecting a decline of 7.9%[49]. - The company reported a pre-tax profit of HKD 55,195,000, compared to HKD 36,106,000 in the previous year, marking a 52.9% increase[49]. - The company reported a profit of HKD 46,610,000 for the six months ended June 30, 2020, compared to HKD 32,949,000 for the same period in 2019, representing a year-over-year increase of about 41.4%[69]. Revenue Breakdown - The revenue from the tinplate business was HKD 948,426,000, a decrease of 3.7% year-on-year[13]. - The fresh food segment reported revenue of HKD 171,504,000, down 5.0% year-on-year, while the segment profit increased by 97.9% to HKD 57,173,000 due to higher live pig prices[22]. - Revenue from mainland China was HKD 493,726,000 in the first half of 2020, down from HKD 549,575,000 in 2019, a decrease of 10.2%[114]. - Revenue from fresh food was HKD 130,637,000 in the first half of 2020, a decrease of 8% from HKD 141,900,000 in 2019[114]. - The tinplate business accounted for 83.9% of the group's revenue, with production increasing by 0.5% year-on-year to 138,583 tons in the first half of 2020[19]. Assets and Liabilities - The total assets increased by 4.9% to HKD 3,196,686,000 from HKD 3,046,807,000[8]. - The group’s total assets as of June 30, 2020, were HKD 3,196,686,000, with total liabilities of HKD 627,023,000, reflecting increases from the end of 2019[27]. - Total liabilities increased to HKD 627,023,000, up 35.7% from HKD 462,282,000 in 2019[122]. - The company's equity attributable to shareholders decreased to HKD 2,426,612,000 from HKD 2,438,584,000, a decline of about 0.5%[61]. - Current assets increased to HKD 1,933,601,000, up from HKD 1,763,255,000, reflecting a growth of about 9.6%[58]. Cash Flow and Liquidity - Cash and cash equivalents amounted to HKD 993,074,000, a 9.9% increase from the end of 2019, with 49.2% in RMB and 24.1% in USD[28]. - The group recorded a net cash position of HKD (950,200,000), slightly worse than HKD (927,503,000) in the previous year[8]. - Operating cash flow generated was HKD 23,229,000 in 2020, up from HKD 8,643,000 in 2019, representing a significant increase of 169%[102]. - Net cash generated from operating activities reached HKD 14,784,000 in 2020, compared to HKD 6,203,000 in 2019, marking an increase of 138%[102]. - The group’s liquidity position remains strong, with available bank credit of HKD 451,222,000, of which HKD 190,670,000 is unutilized[28]. Dividends and Shareholder Value - The interim dividend declared was HKD 1.0 cent per share, unchanged from the previous year[12]. - The company declared an interim dividend of HKD 9,076,000 for the six months ended June 30, 2020, consistent with the previous year[162]. - The company is committed to maximizing shareholder value through strategic partnerships and development opportunities despite economic uncertainties[40]. Operational Strategies and Market Presence - The company plans to strengthen its food safety supervision and adjust its operational strategies in response to the ongoing COVID-19 pandemic[40]. - The company aims to expand its market presence in the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on the agricultural food sector[40]. Employee and Management Information - The workforce increased to 1,086 employees as of June 30, 2020, up from 1,081 at the end of 2019, reflecting a slight growth in human resources[40]. - The total remuneration for key management personnel, including payments to directors, was HKD 1,514,000, comprising short-term employee benefits of HKD 1,265,000 and retirement benefits of HKD 249,000[197]. Investment and Capital Expenditures - Capital expenditures for the first half of 2020 were HKD 13,432,000, with an estimated total for the year projected at HKD 70,000,000[29]. - The total capital commitments as of June 30, 2020, were HKD 52,594,000, compared to HKD 34,296,000 as of December 31, 2019[182]. Other Financial Metrics - The group recognized a valuation loss on investment properties of HKD 9,341,000 for the period, compared to no loss in the same period of 2019[142]. - Other comprehensive income for the period was a loss of HKD 31,354,000, compared to a loss of HKD 6,211,000 in the previous year[72]. - The total comprehensive income for the period was HKD 15,256,000, down from HKD 26,738,000 in the prior year[74].