中国质量新闻网讯 为进一步完善福建漳州市创新主体知识产权人才队伍建设，促进知识产权助理官的有效履职，近日，福建省漳州市知识产权助理官化 工材料行业组学习会在青蛙王子（福建）婴童护理用品有限公司成功举办。 下一步，漳州市市场监管局将把品牌建设作为知识产权强市工作的重要内容，继续讲好漳州的品牌故事；同时充分发挥漳州市知识产权保护中心省级知识 产权信息公共服务网点作用，持续深化知识产权培训服务，持续开展分行业、多层次的学习会，强化知识产权对创新发展的支撑效能，为漳州市知识产权 工作打下坚实的基础。（陈永 赵永光） 会上，青蛙王子（福建）婴童护理用品有限公司董事长李振辉、副总经理李亮分别就"青蛙王子"的品牌发展历程与战略规划作专题分享，内容切合企业知 识产权创造、运用、保护和管理实践。"青蛙王子"的品牌故事生动地诠释了品牌作为高质量发展核心要素的价值，为在场企业代表提供了可借鉴的发展和 创新路径。会后，与会代表一同参观青蛙王子企业历史博物馆、产品展示厅等场所，各企业家通过实地观摩交流，共谋协同发展。 本次学习会标志着2025年知识产权助理官行业组学习会拉开序幕。据了解，学习会由漳州市市场监管局主办，漳州市知识产权保护 ...

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of approximately HKD 508.5 million, a decrease of about 1.7% compared to HKD 517.4 million for the previous year[7]. - The loss attributable to equity holders was approximately HKD 53.7 million, compared to a loss of HKD 38.7 million in the same period last year[7]. - The basic loss per share was HKD 0.0242, compared to HKD 0.0170 in the previous year[7]. - The group's total revenue for the reporting period was approximately HKD 508.5 million, a decrease of about 1.7% compared to HKD 517.4 million for the year ended December 31, 2023[33]. - The group reported a total profit of approximately HKD 0.4 million for the reporting period, down from HKD 3.4 million for the year ended December 31, 2023, primarily due to increased advertising expenses[19]. - The group recognized a credit impairment loss of approximately HKD 0.2 million on trade receivables from margin financing assets, compared to HKD 7.2 million for the year ended December 31, 2023[20]. - The group recorded a loss of approximately HKD 42.1 million in the lending and credit card business, an increase from HKD 26.3 million for the year ended December 31, 2023, mainly due to additional employee costs[25]. - The property holding segment incurred a loss of approximately HKD 19.5 million, compared to HKD 9.5 million for the year ended December 31, 2023[29]. - The group recognized a provision for impairment losses on investment properties of approximately HKD 9.7 million, compared to HKD 1.6 million for the year ended December 31, 2023[31]. - The group's gross profit for the reporting period was approximately HKD 130.5 million, an increase of about 10.5% compared to HKD 118.2 million for the year ended December 31, 2023[34]. - Gross margin increased by approximately 2.9% to about 25.7% for the reporting period, compared to 22.8% for the year ended December 31, 2023[34]. - Other income and gains amounted to approximately HKD 16.4 million, a 36.5% increase from HKD 12.0 million in the same period last year[35]. Revenue Segmentation - The restaurant services segment generated revenue of approximately HKD 405.4 million, a decrease of about 6.0% from HKD 431.4 million in the prior year[11]. - The financial services segment contributed approximately HKD 101.7 million to total revenue, an increase of about 19.3% from HKD 85.2 million in the previous year[12]. - The securities brokerage, margin financing, asset management, and professional services business recorded total revenue of approximately HKD 92.4 million, an increase from HKD 83.3 million for the year ended December 31, 2023, due to higher income from professional consulting services[17]. - The lending and credit card business generated revenue of approximately HKD 9.3 million, significantly up from HKD 2.0 million for the year ended December 31, 2023, attributed to the full-year impact of credit card issuance fees[23]. - The property holding segment recorded revenue of approximately HKD 1.4 million, an increase from HKD 0.8 million for the year ended December 31, 2023, due to higher occupancy rates and the full-year impact of existing leases[28]. Business Strategy and Future Plans - The company plans to launch a new insurance business in the second half of 2024, focusing on private life insurance products[8]. - The company aims to establish a balanced investment portfolio primarily composed of food service and comprehensive financial services by 2025[8]. - The company will continue to seek opportunities in the financial services sector, leveraging Hong Kong's unique position as a gateway between mainland China and global markets[8]. - The company aims to diversify its business portfolio, focusing on the restaurant and financial sectors to create long-term value for shareholders[61]. - The company plans to expand its financial services division, including entering the credit card and insurance businesses, to achieve its long-term strategic goals[62]. Corporate Governance - The company emphasizes good corporate governance practices to maintain and enhance investor confidence and sustainable development[77]. - The board believes that the company has complied with the Corporate Governance Code during the reporting period ending December 31, 2024, with some exceptions noted[78]. - The board is responsible for leading, monitoring, and managing the company, ensuring effective operations and growth to enhance shareholder value[80]. - The company has a robust and ongoing strategic planning process to identify and assess potential opportunities and challenges[79]. - The company has appointed Mr. Zhou as the director and CEO for future development in financial services, bringing over 27 years of experience in the financial information technology industry[75]. - The board of directors consists of three independent non-executive directors, meeting the requirement of at least one-third representation[83]. - The company has adopted a policy to ensure the independence of the board, with two out of six directors being female, representing approximately 33.3%[85]. - All directors are required to undergo continuous professional training to stay updated on legal and regulatory changes[92]. - The company has not appointed a chairman for the board during the reporting period, deviating from the corporate governance code[88]. - The board has delegated daily management and operations to senior management, who must seek board approval for significant transactions[82]. - The company ensures that all directors receive appropriate onboarding and training upon their appointment[91]. - The board will continue to seek suitable candidates to enhance gender diversity among its members[85]. - The company has received annual written confirmations of independence from all independent non-executive directors, affirming their status[86]. Risk Management and Compliance - The board is responsible for evaluating the effectiveness of the group's risk management and internal control systems, which are deemed effective and adequate[122]. - The group has adopted a credit and risk control policy for its securities business, particularly for margin financing, to enhance operational efficiency[125]. - Continuous monitoring of loan repayment capabilities and recovery situations is conducted, including real-time market information on clients' portfolios[130]. - The company complies with anti-money laundering regulations and conducts bankruptcy investigations on borrowers every six months[140]. - The company has established a whistleblowing policy to report misconduct and has a zero-tolerance commitment to corruption and unethical behavior[123]. Shareholder Information - The company will not declare any final dividend for the year ending December 31, 2024, consistent with the previous year[66]. - The company has a distributable reserve of approximately HKD 168,215,000 as of December 31, 2024[170]. - The board will consider various factors, including market conditions and future cash needs, when deciding on dividend payments[176]. - The company has established a shareholder communication policy to ensure effective and timely dissemination of information to shareholders and investors[150]. - The company will hold its 2025 Annual General Meeting on June 19, 2025, at 10:00 AM in Hong Kong[149]. Employee and Workforce - The company employed 164 employees as of December 31, 2024, an increase from 126 employees on December 31, 2023[64]. - The workforce consists of 46% female employees, highlighting the company's commitment to diversity and inclusion[174]. - The company has a commitment to corporate culture aligned with its mission, values, and strategies, focusing on talent recruitment, employee retention, and training[79]. Audit and Financial Reporting - The audit committee held 4 meetings during the reporting period to review financial statements and discuss significant matters with external auditors[115]. - The audit committee reviewed the annual financial statements for the year ending December 31, 2023, and the interim financial statements for the six months ending June 30, 2024[116]. - The company is considering appointing a new auditor to fill the vacancy left by the resignation of Zhongzheng Tianheng CPA[116]. - The audit fee for the fiscal year ending December 31, 2024, is HKD 2,000,000, while the previous auditor charged HKD 318,000 for non-audit services[143]. - The company reported a loss during the reporting period, with financial details available in the annual report pages 58 to 176[161].

Financial Performance - Revenue from continuing operations decreased by approximately 1.7% to about HKD 508.5 million compared to HKD 517.4 million in the same period of 2023[3]. - Gross profit from continuing operations increased by approximately 10.5% to about HKD 130.5 million, with a gross profit margin rising by 2.9% to approximately 25.7%[4][5]. - Loss attributable to equity holders of the company was approximately HKD 53.7 million, compared to a loss of HKD 38.7 million in the same period of 2023, resulting in a basic loss per share of HKD 2.42[5][6]. - Total comprehensive income for the year was HKD 96.2 million, a significant improvement from a comprehensive loss of HKD 21.1 million in 2023[7]. - The group reported external customer revenue of HKD 508,478,000 for the year ending December 31, 2024, a decrease of 1.8% from HKD 517,429,000 in 2023[38]. - The group recorded a total adjusted loss before tax of HKD 51,189,000 for continuing operations, compared to a loss of HKD 30,983,000 in the previous year[32]. - The group incurred a loss of approximately HKD 42.1 million in the lending and credit card business, an increase from HKD 26.3 million for the year ended December 31, 2023, primarily due to increased employee costs[72]. - The group reported a loss from discontinued operations of HKD 488 for the year 2023, with a total loss of HKD 573 after accounting for the sale of the business[51]. Assets and Liabilities - Non-current assets decreased from HKD 339.3 million in 2023 to HKD 745.7 million in 2024, with a notable increase in financial assets at fair value through other comprehensive income from HKD 30.9 million to HKD 183.5 million[8]. - Current liabilities increased significantly from HKD 170.7 million in 2023 to HKD 385.0 million in 2024, primarily due to trade payables rising from HKD 123.3 million to HKD 335.5 million[9]. - The company’s total assets less current liabilities increased from HKD 640.1 million in 2023 to HKD 700.0 million in 2024[9]. - The company’s equity attributable to equity holders increased from HKD 599.6 million in 2023 to HKD 694.8 million in 2024[9]. - The total assets of the group as of December 31, 2024, amounted to HKD 1,085,025,000, compared to HKD 810,792,000 as of December 31, 2023[34]. - The group’s total liabilities increased to HKD 388,073,000 from HKD 177,109,000 year-over-year[35]. - Trade payables as of December 31, 2024, were approximately HKD 335.5 million, significantly increased from about HKD 123.3 million as of December 31, 2023[96]. Revenue Segments - The food and beverage segment generated revenue of HKD 405,377,000, down from HKD 431,409,000, reflecting a decline of 6.0%[40]. - The financial services segment reported revenue of HKD 101,678,000, an increase of 19.0% from HKD 85,244,000[32]. - Revenue from the food and beverage segment was approximately HKD 405.4 million in 2024, down about 6.0% from HKD 431.4 million in 2023[63]. - The gross profit for the food and beverage segment was approximately HKD 50.2 million in 2024, a decrease from HKD 53.1 million in 2023, reflecting a decline of about 5.5%[63]. - The financial services segment contributed approximately HKD 101.7 million to total revenue in 2024, an increase of about 19.3% from HKD 85.2 million in 2023[64]. - The financial services segment recorded a loss of approximately HKD 41.8 million in 2024, compared to a loss of HKD 23.0 million in 2023[65]. Expenses and Costs - Employee benefits expenses increased to HKD 81,007 in 2024 from HKD 57,218 in 2023, reflecting a significant rise in wage and salary costs[46]. - Administrative expenses for the reporting period were approximately HKD 134.8 million, an increase of about 26.6% compared to approximately HKD 106.5 million for the year ended December 31, 2023[81]. - Sales and distribution expenses accounted for approximately 8.1% of revenue during the reporting period, down from about 7.3% for the year ended December 31, 2023, with warehousing and logistics costs decreasing from approximately 5.7% to about 4.9%[80]. - The total financing costs for continuing operations decreased to HKD 682 in 2024 from HKD 828 in 2023[48]. - The cost of goods sold for the year 2024 was HKD 355,141, a decrease from HKD 378,269 in 2023[46]. Strategic Developments - The company plans to maintain a cautious approach in developing its restaurant services business due to high uncertainty in the overall environment[106]. - The group aims to diversify its business portfolio, focusing on both the restaurant and financial sectors to create long-term value for shareholders[105]. - The company is entering the credit card and insurance sectors as part of its long-term strategic development towards becoming a comprehensive financial services institution[107]. - The group will continue to assess the performance of its existing businesses and identify segments with growth potential[107]. Governance and Compliance - The company has not appointed a chairman for the board during the reporting period, deviating from the corporate governance code provisions C.2.1[117]. - The CEO, Mr. Liu Jiahao, will serve as the chairman for the upcoming annual general meeting on June 21, 2024[116]. - The company has adopted the standard code for securities trading by directors and confirmed compliance by all directors during the reporting period[118]. Other Information - The group continues to adopt the going concern basis in preparing the consolidated financial statements, expecting sufficient resources for ongoing operations[22]. - The group has not entered into any agreements or purchased any instruments to hedge its foreign exchange risk, which is considered minimal due to the peg between the Hong Kong dollar and the US dollar[102]. - There are no significant events affecting the group's operational and financial performance after December 31, 2024[120]. - The annual performance announcement and annual report will be available on the company's and the stock exchange's websites at an appropriate time[122].

Revenue and Profitability - Revenue from continuing operations increased by approximately 4.5% to about HKD 252.0 million compared to the same period in 2023[1] - Gross profit from continuing operations rose by approximately 18.6% to about HKD 64.5 million, with a gross profit margin increase of about 3.0% to approximately 25.6%[1] - Total revenue for the six months ended June 30, 2024, was HKD 251.982 million, a decrease from HKD 241.174 million for the same period in 2023, representing a decline of approximately 3.3%[14] - Total revenue from continuing operations for the six months ended June 30, 2024, was HKD 251,982, an increase from HKD 241,174 for the same period in 2023, representing a growth of approximately 4%[17] - Revenue from the restaurant business was HKD 203,800, slightly down from HKD 204,706 in the previous year, indicating a decrease of about 0.4%[17] - Revenue from professional services increased significantly to HKD 36,555, up from HKD 29,134, marking a growth of approximately 25.5%[17] - Revenue from securities trading and related services rose to HKD 4,089, compared to HKD 2,268, reflecting an increase of about 80.5%[17] - The total income from contract customers was HKD 251,368, up from HKD 240,508, which is an increase of approximately 4.5%[18] - The company reported a total profit of approximately HKD 6.1 million for the reporting period, compared to a loss of approximately HKD 5.1 million for the period ending June 30, 2023, primarily due to increased revenue and reduced impairment losses on trade receivables from margin financing[49] Losses and Expenses - Loss from continuing operations for the period was approximately HKD 32.9 million, compared to a loss of approximately HKD 13.1 million in the same period of 2023[1] - Basic loss per share from continuing operations was approximately HKD 1.32, compared to HKD 0.72 in the same period of 2023[4] - The company reported a total comprehensive loss of HKD 22.0 million for the period, compared to a comprehensive income of HKD 4.2 million in the same period of 2023[4] - The company reported a total loss before tax of HKD 31.268 million for the ongoing business operations for the six months ended June 30, 2024[14] - The group reported a pre-tax loss from continuing operations, with the cost of goods sold amounting to HKD 179,254, up from HKD 178,054, indicating a marginal increase of about 0.7%[21] - The total employee costs increased to HKD 36,855 from HKD 28,984, representing a significant rise of approximately 27.5%[21] - The company reported a loss attributable to equity holders of HKD 29,512,000 for the period, compared to a loss of HKD 20,411,000 in the previous period[30] - The company reported a loss of approximately HKD 16.5 million in the lending and credit card business, up from a loss of approximately HKD 9.8 million for the period ending June 30, 2023, mainly due to increased employee costs[51] Assets and Liabilities - Total assets decreased to HKD 535.6 million from HKD 574.2 million as of December 31, 2023[5] - Non-current assets decreased from HKD 236.6 million to HKD 225.8 million[5] - Current liabilities decreased from HKD 170.7 million to HKD 149.5 million[6] - Cash and bank balances decreased from HKD 358.3 million to HKD 328.2 million[5] - Total assets as of June 30, 2024, amounted to HKD 761.439 million, down from HKD 810.792 million as of December 31, 2023[15][16] - Total liabilities as of June 30, 2024, were HKD 153.489 million, a decrease from HKD 177.109 million as of December 31, 2023[15][16] - Trade receivables totaled HKD 69,292,000 as of June 30, 2024, down from HKD 84,419,000 at the end of the previous year[36] - Trade receivables amounted to approximately HKD 66.7 million, a decrease from HKD 81.7 million as of December 31, 2023[66] - Trade payables were approximately HKD 110.2 million, down from HKD 123.3 million as of December 31, 2023[67] - Inventory decreased by approximately 11.9% to HKD 37.6 million as of June 30, 2024, compared to HKD 42.7 million as of December 31, 2023[68] - The asset-liability ratio was approximately 20.2% as of June 30, 2024, down from 21.8% as of December 31, 2023[69] Financial Reporting and Standards - The company has adopted new international financial reporting standards effective from January 1, 2024, but these did not have a significant impact on the financial statements[10][11] - The group did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[24] - The company did not issue any potential shares during the periods ended June 30, 2024, and June 30, 2023, resulting in no diluted loss per share being presented[31] - The company has complied with the corporate governance code, except for the absence of a chairman during the reporting period[81] Business Operations and Strategy - The company continues to focus on its core business segments: food and beverage, financial services, and property holding, while evaluating potential market expansion opportunities[11] - The company has terminated operations in a subsidiary providing temperature-controlled storage services, which is classified as discontinued operations[12] - The company anticipates a challenging investment environment in 2024 due to inflation, interest rate volatility, and geopolitical tensions[74] - The company is actively exploring opportunities to diversify its business portfolio in the financial services sector in Hong Kong and Asia[75] - The company has received conditional approval from the government for redevelopment plans of its land and properties in Yuen Long[75] Employee and Governance - As of June 30, 2024, the group employed 131 employees, an increase from 126 employees as of December 31, 2023[76] - The group has a mandatory provident fund plan where both the company and each employee contribute 5% of the employee's relevant income, with a monthly cap of HKD 30,000[77] Share Repurchase and Capital Expenditures - The company repurchased a total of 59,762,000 shares at a total cost of HKD 3,697,100 during the six months ended June 30, 2024[79] - The highest price per share repurchased in January 2024 was HKD 0.055, while the lowest was HKD 0.026[79] - Capital expenditures during the reporting period were approximately HKD 0.1 million, primarily for office renovations and equipment purchases[62] Other Financial Information - Other income and gains decreased by 56.8% to approximately HKD 5.4 million, down from approximately HKD 12.5 million for the same period last year, primarily due to the absence of impairment loss reversals on properties under development[56] - Selling and distribution expenses increased by approximately 16.7% to about HKD 21.7 million, compared to approximately HKD 18.6 million for the period ending June 30, 2023, driven by increased advertising costs related to financial services[57] - Administrative expenses rose by approximately 29.4% to about HKD 61.6 million, compared to approximately HKD 47.6 million for the period ending June 30, 2023, mainly due to increased employee and professional costs[58] - Other expenses increased by approximately 87.2% to about HKD 17.6 million, compared to approximately HKD 9.4 million for the period ending June 30, 2023, primarily due to impairment losses on properties under development and changes in fair value of investment properties[59] - The company completed the sale of its entire interest in a subsidiary for approximately HKD 2.3 million, resulting in a recognized gain of approximately HKD 1.1 million for the period ending June 30, 2023[60] - The company's net loss attributable to shareholders was approximately HKD 29.5 million, with a net loss margin of about 11.7%[61] - There were no significant events after June 30, 2024, that would impact the group's financial performance[83] - The company will issue a mid-term report containing all required information to shareholders at an appropriate time[84]

Financial Performance - The group's revenue from continuing operations for the year ended December 31, 2023, was approximately HKD 517.4 million, an increase of about 3.8% compared to HKD 498.5 million for the year ended December 31, 2022[6]. - The loss attributable to equity holders of the company was approximately HKD 38.7 million, compared to a loss of HKD 88.9 million in the same period of 2022[6]. - The basic loss per share was HKD 0.017, improving from HKD 0.039 in the previous year[6]. - The gross profit for the reporting period was approximately HKD 118.2 million, an increase of approximately 16.9% from approximately HKD 101.1 million for the year ended December 31, 2022[39]. - Other income and gains amounted to approximately HKD 12.0 million, a significant increase of 150.0% from approximately HKD 4.8 million in the same period last year[41]. - Administrative expenses for the reporting period were approximately HKD 106.5 million, an increase of approximately 19.1% from approximately HKD 89.4 million for the year ended December 31, 2022[43]. - The company reported a net loss attributable to equity holders of approximately HKD 38.7 million for the year ended December 31, 2023, compared to a net loss of HKD 88.9 million for the year ended December 31, 2022, resulting in a net loss margin of about 7.5%[55]. Segment Performance - The restaurant services segment generated stable revenue of approximately HKD 431.4 million, compared to HKD 429.5 million for the year ended December 31, 2022[10]. - The gross profit for the restaurant services segment was approximately HKD 53.1 million, an increase from HKD 49.4 million, with a gross margin of about 12.3%, up by approximately 0.8%[10]. - The financial services segment contributed approximately HKD 85.2 million to total revenue, a year-on-year increase of about 23.5% from HKD 69.0 million[11]. - The financial services segment recorded a loss of approximately HKD 23.0 million, compared to a loss of HKD 8.6 million in the previous year[12]. - The securities investment business recorded a loss of approximately HKD 0.1 million, a significant improvement from a loss of about HKD 20.3 million as of December 31, 2022[15]. - Total revenue from the securities brokerage, margin financing, asset management, and professional services business was approximately HKD 83.3 million, down from HKD 87.7 million for the same period in 2022, primarily due to decreased interest income from margin financing[16]. - The total profit for the securities brokerage and related services was approximately HKD 3.4 million, a decrease from HKD 19.1 million in the previous year, attributed to reduced revenue and impairment losses on margin financing receivables[16]. - The group recognized an impairment loss of HKD 7.2 million on margin financing receivables, compared to zero in the previous year, due to significant declines in the market prices of pledged securities[17]. - The group's lending and credit card business generated revenue of approximately HKD 2.0 million, an increase from HKD 1.5 million in the previous year, driven by successful credit card issuance and related fees[24]. - The lending and credit card business recorded a loss of approximately HKD 26.3 million, up from HKD 7.4 million in the previous year, mainly due to increased employee costs associated with the credit card business[25]. - The property holding segment generated revenue of approximately HKD 0.8 million, compared to zero in the previous year, reflecting the leasing of remaining properties[29]. - The property holding business recorded a segment loss of approximately HKD 9.5 million, compared to a loss of approximately HKD 35.2 million as of December 31, 2022[30]. - Impairment loss provision for properties under development was approximately HKD 7.0 million, down from approximately HKD 25.8 million as of December 31, 2022[31]. Investment and Strategic Plans - The company plans to continue pursuing a balanced investment portfolio primarily composed of restaurant services and integrated financial services[7]. - The company will closely monitor its business performance and seek opportunities in the financial services sector, leveraging Hong Kong's unique position as a bridge between mainland China and the world[7]. - The group aims to create long-term value for shareholders through a diversified business portfolio, while being cautious due to geopolitical tensions and economic uncertainties[74]. - The group plans to enhance profitability by establishing reliable relationships with diverse suppliers and expanding high-margin product offerings[74]. - The group is exploring opportunities to expand its financial services portfolio, particularly in the asset-backed credit card market[75]. - The group has received conditional approval from the Hong Kong government for redevelopment plans on four land parcels in Yuen Long[75]. - The group will continue to assess the performance of its existing businesses and explore promising segments for development[75]. - The group is committed to improving inventory management efficiency through potential logistics partnerships[74]. - The group will remain cautious in considering investments in securities or other financial products amid market uncertainties[74]. Corporate Governance - The company emphasizes the importance of good corporate governance practices to maintain and enhance investor confidence and sustainable development[92]. - The board of directors is responsible for leading, monitoring, and managing the company, ensuring effective operations and growth to enhance shareholder value[95]. - The company has adopted the principles of the Corporate Governance Code and has complied with its provisions for the year ending December 31, 2023, except for specific deviations[93]. - The company aims to become a leading enterprise in the food and beverage industry, prioritizing food safety and quality[94]. - The company is leveraging Hong Kong's unique cross-border opportunities as an offshore RMB hub to develop a comprehensive financial services institution with global influence[94]. - The board consists of three independent non-executive directors, meeting the requirement of having at least one with appropriate professional qualifications or accounting expertise[98]. - The company has a robust and ongoing strategic planning process to identify and assess potential opportunities and challenges[94]. - The company’s senior management supports the board in fulfilling its responsibilities and is empowered to manage daily operations[96]. - The company’s independent non-executive directors play a crucial role in providing oversight and ensuring the interests of the group and shareholders are protected[100]. - The board consists of six members, with two female directors, representing approximately 33.3% of the board[101]. - All independent non-executive directors have confirmed their independence in accordance with listing rules[102]. - The company did not appoint a chairman for the board during the fiscal year ending December 31, 2023, which deviates from the corporate governance code[103]. - The company held six board meetings, two remuneration committee meetings, two audit committee meetings, and one annual general meeting during the fiscal year[109]. - All directors participated in ongoing professional training and received updates on the company's business and governance matters[108]. - The company aims to increase the proportion of female board members in the future[101]. - The company will nominate a suitable candidate for the chairman position as soon as practicable[104]. - The independent non-executive director, Wang Shixiong, was appointed on December 29, 2023, and participated in a training course[107]. - The company has established procedures for the appointment and removal of directors, with a three-year term for each[106]. - The board will continue to ensure effective communication with shareholders and address their inquiries adequately[103]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors for the year ending December 31, 2023[112]. Risk Management and Compliance - The company has established a risk management and internal control system designed to protect assets from misuse and unauthorized transactions[143]. - The company has implemented a comprehensive credit and risk control policy for its securities business, particularly in margin financing, to enhance operational efficiency[150]. - The credit risk assessment for new credit financing considers factors such as the client's liquidity, capital, and current market conditions[151]. - The maximum loan amount for margin clients is calculated based on the market value of eligible securities recognized by the company's subsidiary, with specific financing ratios assigned[152]. - The company has established policies to monitor concentration risk related to individual securities and groups of related margin clients[155]. - Continuous monitoring of loan repayment capabilities and recovery situations is conducted, including checking clients' past repayment records and financial credibility[156]. - If margin clients do not respond to margin calls, their pledged securities may be forcibly sold in the open market[157]. - The company adheres to a comprehensive policy and procedural manual for loan approval, renewal, and compliance monitoring[158]. - The internal audit function is executed by a qualified professional company, ensuring the effectiveness of risk management and internal control systems[147]. - The company has adopted a whistleblowing policy to provide clear procedures for reporting misconduct or unethical behavior[147]. Shareholder Communication and Meetings - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategies[173]. - The company maintains a website (www.pfh.hk) as a communication platform for shareholders and investors, providing access to business development, operational data, and financial information[173]. - The company has established a shareholder communication policy to ensure effective and timely information dissemination to shareholders[179]. - The company will hold its 2024 Annual General Meeting on June 21, 2024, at 10:00 AM in Hong Kong[178]. - The board of directors has proposed the reappointment of auditors and the reelection of directors during the 2023 Annual General Meeting[39]. - The company has authorized a general buyback of shares not exceeding 10% of the total issued shares[179]. - The company will suspend the registration of shareholders from June 17 to June 21, 2024, to determine voting rights for the upcoming Annual General Meeting[196]. - The company’s financial data summary for the past five fiscal years is available on page 194 of the annual report[195]. Operational Risks and Environmental Considerations - The group faces operational risks and uncertainties including global economic conditions and changes in laws and regulations[199]. - The company emphasizes environmental protection and resource conservation in its operations[200].

Financial Performance - For the year ended December 31, 2023, the revenue from continuing operations increased by approximately 3.8% to about HKD 517.4 million compared to HKD 498.5 million in 2022[3]. - The gross profit from continuing operations rose by approximately 16.9% to about HKD 118.2 million, with a gross profit margin of approximately 22.8%, an increase of 2.5% from the previous year[4][5]. - The loss attributable to equity holders of the company for the year was approximately HKD 38.7 million, a significant improvement from a loss of HKD 88.9 million in 2022[5]. - Basic loss per share attributable to equity holders was HKD 1.7 cents, compared to HKD 3.9 cents in the prior year[5][8]. - Total comprehensive income for the year included a gain of HKD 13.4 million from fair value changes of financial assets, contrasting with a loss of HKD 27.9 million in 2022[8]. - The company incurred a total pre-tax loss from continuing operations of HKD 30,983,000 for the year ended December 31, 2023[34]. - The company reported a pre-tax loss of HKD 30,983,000 for 2023, an improvement from a loss of HKD 59,620,000 in 2022[56]. - The income tax expense for 2023 was HKD 4,067,000, up from HKD 2,407,000 in 2022, reflecting an increase of 69.2%[53]. - The company recorded a net foreign exchange gain of HKD 1,554,000 in 2023, compared to no gain in 2022[48]. - The company reported a loss from discontinued operations of HKD 488,000 in 2023, a significant decrease from HKD 34,852,000 in 2022, representing a reduction of approximately 98.6%[59]. Assets and Liabilities - The total assets decreased to HKD 574.2 million from HKD 709.8 million in 2022, while total liabilities also decreased to HKD 170.7 million from HKD 248.3 million[9][10]. - The net asset value decreased to HKD 633.7 million from HKD 659.2 million in the previous year[10]. - Total assets as of December 31, 2023, amounted to HKD 810,792,000, with segment assets for the food and beverage segment at HKD 131,296,000[36]. - The total liabilities as of December 31, 2023, were HKD 177,109,000, with segment liabilities for the financial services segment at HKD 145,721,000[36]. - The total trade receivables decreased to HKD 81,666,000 in 2023 from HKD 136,848,000 in 2022, a decline of approximately 40.4%[69]. - The group recorded a trade receivables impairment loss of approximately HKD 7.2 million during the reporting period, compared to zero on December 31, 2022[129]. - As of December 31, 2023, the group's bank borrowings were approximately HKD 6.9 million, a decrease of about 47.8% from HKD 13.2 million on December 31, 2022[134]. Revenue Segments - Total revenue for the year ended December 31, 2023, was HKD 517,429,000, with external customer revenue from the food and beverage segment at HKD 431,409,000[34]. - The financial services segment reported a loss of HKD 22,979,000, while the food and beverage segment achieved a profit of HKD 8,138,000[34]. - The food and beverage segment's revenue increased from HKD 429,510,000 in the previous year to HKD 431,409,000 in 2023, reflecting a growth of approximately 0.44%[34]. - Revenue from professional services increased to HKD 70,777,000 from HKD 70,554,000, showing a growth of 0.3%[44]. - The income from securities and futures trading services rose significantly to HKD 4,373,000, compared to HKD 2,017,000 in 2022, marking a growth of 116.7%[44]. - The financial services segment contributed approximately HKD 85.2 million to total revenue, a year-on-year increase of about 23.5% from HKD 69.0 million in 2022[81]. Operational Changes - The company has terminated its temperature-controlled warehousing and related services business during the reporting period[11]. - The company classified certain subsidiaries as discontinued operations, impacting the overall performance evaluation[31]. - The group has ceased operations in personal care products and compliance consulting services, with no revenue recorded in these segments during the reporting period[100][101]. - The company sold its subsidiary engaged in temperature-controlled warehousing and related services during the reporting period[77]. Compliance and Governance - The consolidated financial statements have been prepared in accordance with IFRS and the Hong Kong Companies Ordinance, ensuring compliance with disclosure requirements[23]. - The directors expect that the group has sufficient resources to continue operating for the foreseeable future, thus adopting the going concern basis in preparing the financial statements[24]. - The audit committee reviewed the consolidated financial statements for the year ending December 31, 2023, and found no disagreements regarding accounting principles and practices[150]. - The company has complied with the corporate governance code, except for the absence of a chairman as of December 31, 2023[156]. Employee and Shareholder Information - The group employed 126 employees as of December 31, 2023, an increase from 84 employees on December 31, 2022[145]. - The company did not recommend any dividend for the year ending December 31, 2023, consistent with the previous year[63]. - The company repurchased a total of 11,000,000 shares at a total cost of HKD 322,642.34 during the year ending December 31, 2023[151]. - The company maintained sufficient public float, with at least 25% of issued shares held by the public as of the announcement date[155]. Future Outlook - The group aims to enhance profitability by establishing reliable relationships with diverse suppliers and expanding its high-margin product offerings in response to changing market conditions[141]. - The group is actively seeking opportunities to expand its business portfolio in the financial sector, particularly in the emerging asset-backed credit card market[143]. - The group will continue to evaluate the performance of its existing businesses and explore opportunities for diversification when favorable conditions arise[144].

| 目錄 | | | --- | --- | | 公司資料 | 2 | | 管理層討論及分析 | 3 | | 未經審核簡明綜合中期財務報表 | | | －簡明綜合損益及其他全面收益表 | 15 | | 管理層討論及分析 | 3 | | --- | --- | | 未經審核簡明綜合中期財務報表 | | | －簡明綜合損益及其他全面收益表 | 15 | | －簡明綜合財務狀況表 | 17 | | －簡明綜合權益變動表 | 19 | | －簡明綜合現金流量表 | 21 | | －簡明綜合中期財務報表附註 | 22 | | 中期報告補充資料 | 48 | 1 未來發展控股有限公司 公司資料 董事會 執行董事 劉家豪先生 （首席執行官） 陳凱廸先生 （首席財務官） 非執行董事 施榮忻先生 獨立非執行董事 陳詩敏女士 馬冠勇先生 卜亞楠女士 董事會委員會 審核委員會 陳詩敏女士 （主席） 馬冠勇先生 卜亞楠女士 提名委員會 陳詩敏女士 （主席） 卜亞楠女士 劉家豪先生 薪酬委員會 馬冠勇先生 （主席） 劉家豪先生 陳詩敏女士 執行委員會 劉家豪先生 （主席） 陳凱廸先生 投資及信貸委員會 劉家豪先生 （主席） 陳凱廸先生 ...

Financial Performance - The group's revenue from continuing operations was approximately HKD 509.4 million, a decrease of about 15.5% compared to HKD 602.7 million for the year ended December 31, 2021[8]. - The loss attributable to equity holders of the company was approximately HKD 88.9 million, compared to a loss of HKD 104.9 million in the same period of 2021[8]. - The restaurant services segment contributed approximately HKD 429.5 million to total revenue, a decrease of about 13.6% from HKD 497.4 million in the previous year[11]. - The gross profit from restaurant services was approximately HKD 49.4 million, down from approximately HKD 51.2 million, with a gross margin increase to about 11.5%[11]. - The financial services segment contributed approximately HKD 69.0 million to total revenue, a decrease of about 26.6% from HKD 94.0 million in the previous year[12]. - The financial services segment recorded a loss of approximately HKD 8.6 million, compared to a profit of approximately HKD 26.3 million in the previous year[13]. - The group's total revenue for the reporting period was approximately HKD 509.4 million, a decrease of about 15.5% compared to HKD 602.7 million for the year ended December 31, 2021[44]. - The gross profit for the reporting period was approximately HKD 104.3 million, down about 18.8% from HKD 128.5 million for the year ended December 31, 2021[45]. - The gross profit margin decreased by approximately 0.8% to about 20.5% compared to 21.3% for the year ended December 31, 2021[48]. - The net loss attributable to equity holders for the reporting period was approximately HKD 88.9 million, with a net loss margin of about 17.4%[61]. Business Segments - The personal care products segment contributed total revenue of approximately HKD 392.0 million, a decline of about 34.8% from HKD 601.4 million for the year ended December 31, 2021[39]. - The financing leasing and factoring business contributed total revenue of approximately HKD 1.5 million, a decrease of about 85.1% from HKD 10.0 million for the year ended December 31, 2021[42]. - The lending business recorded a revenue of approximately HKD 1.5 million, down from HKD 5.1 million as of December 31, 2021[27]. - The lending business incurred a loss of approximately HKD 7.4 million, compared to a profit of approximately HKD 1.9 million as of December 31, 2021[30]. - The property holding business recorded a segment loss of approximately HKD 35.2 million, compared to HKD 12.9 million for the year ended December 31, 2021[35]. - An impairment loss of approximately HKD 25.8 million was recognized for properties under development during the reporting period, compared to HKD 3.7 million for the year ended December 31, 2021[36]. - The segment providing temperature-controlled storage and related services contributed total revenue of approximately HKD 10.8 million, a decrease of about 4.1% from HKD 11.3 million for the year ended December 31, 2021[38]. Corporate Strategy and Outlook - The company plans to continue exploring opportunities to expand its investments in the financial services sector, leveraging Hong Kong's unique position as a bridge between China and the rest of the world[9]. - The company will adopt a prudent approach to business development, focusing on enhancing and diversifying its business portfolio in response to ongoing challenges such as COVID-19 recovery and global inflation[9]. - The group plans to expand its restaurant services by increasing the range of high-margin products and seeking different procurement regions to control costs[87]. - The group aims to enhance brand awareness and explore potential opportunities in the food processing sector, including acquisitions or establishing processing plants[87]. - The outlook for 2023 indicates that geopolitical conflicts and inflation risks may continue to suppress global investor sentiment, while domestic demand in mainland China is expected to recover[88]. - The group will maintain a cautious approach in managing its securities investment portfolio amid market volatility[88]. - The group is optimistic about the financial services industry in Hong Kong, leveraging its unique position as a hub for offshore RMB business, with a focus on expanding financial operations[90]. - The group plans to redevelop properties in Yuen Long, Hong Kong, with applications submitted to the government, anticipating no legal obstacles to approvals[90]. Corporate Governance - The company has adopted the corporate governance code principles and believes it has complied with the code provisions for the year ended December 31, 2022, except for specific provisions regarding the roles of the chairman and the CEO[107]. - The board consists of six directors, with two being female, representing approximately 33.3% of the board members, and the company aims to increase the proportion of female members in the future[115]. - The board is responsible for leading, monitoring, and managing the company, ensuring effective operations and growth, and enhancing shareholder value[108]. - The company has not appointed a chairman for the board as of December 31, 2022, and the CEO has acted as the chairman during the annual general meeting[117]. - The company has established a policy to ensure the independence of the board and will review the implementation and effectiveness of this policy annually[113]. - The board has three independent non-executive directors, meeting the requirement of having at least one with appropriate professional qualifications or accounting expertise[112]. - The company emphasizes the importance of good corporate governance practices for maintaining investor confidence and sustainable development[106]. - The board regularly reviews the powers and responsibilities delegated to senior management to ensure effective governance[108]. Risk Management - The risk management and internal control systems are designed to protect assets from misuse and unauthorized transactions, ensuring effective management of operational risks[155]. - The board is responsible for evaluating and determining the nature and extent of risks the group is willing to take to achieve its strategic objectives[157]. - The internal audit function is executed by a qualified professional firm, which assesses the effectiveness of the risk management and internal control systems[159]. - The company has adopted a whistleblowing policy to provide clear procedures for reporting misconduct or unethical behavior[159]. - The group has implemented credit and risk control policies for its securities business, particularly in margin financing, to enhance operational efficiency[162]. - The company has established policies to monitor concentration risk related to individual securities and margin clients, with regular stress testing conducted by the compliance team[167]. Shareholder Communication - The company emphasizes effective communication with shareholders, providing a platform for inquiries and maintaining transparency in operations[189]. - The company has established a website to facilitate communication with shareholders, offering access to business developments and financial information[189]. - The company ensures effective, equal, and timely communication of information to shareholders and investors[198]. - The company encourages shareholders to receive communications electronically to promote timely communication and environmental protection[200]. - Shareholders have the right to propose resolutions at general meetings and can convene special meetings[200]. - The company provides a website (www.pfh.hk) for shareholders to access information, including financial reports and announcements[200]. - The board members and appropriate management will attend the annual general meeting to address shareholder inquiries[200]. - The company has implemented the shareholder communication policy effectively in 2022[199].

Financial Services Development - The net amount raised from the placement was approximately HKD 24.3 million, fully utilized for the development of financial services, including enhancing the group's guarantee financing operations[5]. Share Options - As of December 31, 2021, a total of 72 million share options were granted to directors, 48 million to employees, and 39 million to consultants under the 2011 share option plan[8]. - The fair value of the share options granted to directors was approximately HKD 2.51 million, to employees was about HKD 1.05 million, and to consultants was around HKD 1.68 million[10]. - The expected volatility used in the option pricing model was 58.63%, with a risk-free rate of 0.63%[11]. - The company decided to pay consulting fees in cash instead of share options due to business reasons, leading to the cancellation of the options granted to consultants[18]. Loans and Borrowing - As of December 31, 2021, the company had 14 outstanding unsecured loans totaling approximately RMB 19.0 million, with an average effective annual interest rate of 19.3% and terms ranging from 12 to 120 months[32]. - The company also had 1 outstanding secured loan amounting to approximately RMB 3.5 million, with an effective annual interest rate of 10.0% and a term of 12 months[32]. - The collateral for the secured loan is non-listed shares valued at approximately RMB 2,155,000 from a company registered in Singapore[32]. - The primary sources of potential borrowers are existing customers, employees, or referrals from business partners[20]. - The company conducts thorough credit risk assessments for potential borrowers, considering factors such as repayment history and financial status[21][23]. - Loan terms are determined based on various factors, including the borrower's credit history and market conditions, with higher rates for unsecured loans compared to secured loans[24]. - The company closely monitors repayment records of receivables and conducts reviews every six months[27]. - In case of default, the company issues reminders after 7 days of non-payment and may engage external collection agencies if no response is received within 90 days[28]. - The company does not require potential borrowers to meet minimum asset or income thresholds, but lower income or net worth may result in higher assessed credit risk[23]. - The total outstanding loans as of December 31, 2021, amounted to RMB 28,853,915, with a net amount of RMB 22,539,490 after accounting for confirmed impairment losses of RMB 6,314,425[36]. - Approximately 23% (around RMB 6,524,000) of the outstanding loans are concentrated in the largest borrower, while 77% (approximately RMB 22,315,000) are concentrated in the top five borrowers[47]. - The company has conducted bankruptcy investigations on borrowers every six months, resulting in a write-off of approximately RMB 0.6 million for the year ended December 31, 2021[47]. Financing Leasing and Factoring - The financing leasing and factoring business primarily operates through Tianyi Financing Leasing (Shenzhen) Co., Ltd., focusing on individual customers and mobile industry enterprises[50]. - The financing leasing agreements typically range from 3 to 36 months, with loan amounts generally not exceeding RMB 10,000[50]. - The interest rates for financing leases are determined at the contract date and include guaranteed residual values[50]. - As of the announcement date, there are eight outstanding loans that are in default[39]. - The company is negotiating revised repayment plans with several borrowers, and legal actions may be initiated if positive outcomes are not achieved[36]. - The company has made provisions for expected credit losses based on historical loss rates and forward-looking macroeconomic data[47]. - All outstanding loans do not constitute a notifiable transaction under the Listing Rules[47]. - As of December 31, 2021, the company had 9,579 outstanding financing lease receivables amounting to RMB 85 million, with an average effective annual interest rate of approximately 41.7%[54]. - The company also reported 31 outstanding factoring receivables totaling RMB 24 million, with an average effective annual interest rate of about 21.3%[54]. - The largest lessee accounted for approximately 0.06% (around RMB 11,000) of the financing lease receivables, while the top five lessees represented about 0.28% (around RMB 52,000)[54]. - In the factoring business, the largest customer accounted for approximately 16.35% (around RMB 388,000) of the receivables, and the top five customers made up about 53.47% (around RMB 1,268,000)[54]. - The company recognized an impairment loss provision for financing lease receivables of approximately RMB 7.5 million during the year, primarily due to increased default rates linked to the economic slowdown caused by the COVID-19 pandemic[54].

Revenue Performance - The personal care products segment generated total revenue of approximately RMB 181.3 million, a decrease of about 2.8% compared to RMB 186.5 million in the same period last year, with a segment loss of approximately RMB 35.4 million[19]. - The food and beverage services segment contributed total revenue of approximately RMB 180.0 million, an increase of about 7.8% from RMB 167.0 million in the previous year, with a segment profit of approximately RMB 4.3 million[20]. - The financial services segment generated total revenue of approximately RMB 22.6 million, a decrease of about 49.3% from RMB 44.5 million in the same period last year, resulting in a segment loss of approximately RMB 8.6 million[21][22]. - The group’s revenue for the reporting period was approximately RMB 388.4 million, a decrease of about 3.6% compared to RMB 403.0 million for the period ending June 30, 2021[43]. - Total revenue for the six months ended June 30, 2022, was RMB 388,354,000, a decrease from RMB 402,954,000 for the same period in 2021, representing a decline of approximately 3.9%[132]. Profit and Loss - The group recorded a total profit of approximately RMB 15.0 million for the reporting period, compared to RMB 11.2 million for the period ending June 30, 2021[28]. - The gross profit for the reporting period was approximately RMB 71.3 million, a decrease of about 32.0% from RMB 104.9 million for the same period last year[44]. - The group recorded a loss of approximately RMB 6.6 million from lending, leasing, and factoring businesses, compared to a loss of RMB 0.1 million for the period ending June 30, 2021[37]. - The company reported a net loss attributable to equity holders of approximately RMB 52.2 million for the period, compared to a net loss of RMB 31.4 million for the same period in 2021, resulting in a net loss margin of approximately 13.4%[58]. - The group reported a pre-tax loss of RMB 52,233,000 for the six months ended June 30, 2022, compared to a loss of RMB 31,364,000 for the same period in 2021, representing a year-on-year increase of 66.5%[149]. Expenses and Costs - Administrative expenses for the reporting period were approximately RMB 80.8 million, an increase of about 16.5% from RMB 69.3 million for the period ending June 30, 2021[51]. - Total employee costs increased to RMB 64,617,000 in the first half of 2022, up from RMB 50,739,000 in the same period of 2021, reflecting a rise of 27.3%[149]. - Research and development costs amounted to RMB 16,830,000 for the six months ended June 30, 2022, compared to RMB 14,299,000 in the prior year, marking an increase of 17.7%[143]. - The cost of goods sold for the six months ended June 30, 2022, was RMB 307,652,000, up from RMB 287,467,000 in the same period of 2021, an increase of 7.0%[143]. Assets and Liabilities - As of June 30, 2022, the total assets as of June 30, 2022, amounted to RMB 2,552,254,000, a significant increase from RMB 882,598,000 as of December 31, 2021[101]. - The company’s total assets in the financial services segment reached RMB 2,103,771 thousand as of June 30, 2022, indicating a strong position in this area[128]. - The company’s total liabilities decreased from RMB 674,261,000 at the end of 2021 to RMB 629,217,000 as of June 30, 2022, indicating a reduction of about 6.7%[104]. - Trade payables and notes payable as of June 30, 2022, were approximately RMB 2,060.4 million, significantly up from RMB 358.1 million as of December 31, 2021[74]. Cash Flow - The net cash used in operating activities for the six months ended June 30, 2022, was RMB (79,093) thousand, compared to RMB (7,529) thousand for the same period in 2021, indicating a significant decline in operational cash flow[112]. - The net cash generated from investing activities was RMB 6,954 thousand for the six months ended June 30, 2022, a recovery from RMB (20,036) thousand in the previous year[112]. - The total cash and cash equivalents at the end of the period were RMB 284,803 thousand, a decrease from RMB 339,014 thousand at the end of the previous year[112]. Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[94]. - The weighted average number of ordinary shares used to calculate basic loss per share increased to 2,274,123,000 for the six months ended June 30, 2022, compared to 1,831,206,000 in 2021, an increase of 24.2%[149]. - The company has established a stock option plan to reward eligible participants contributing to its operations, which was active until June 21, 2021[172]. Future Plans and Strategies - The group plans to continue providing specialized financial solutions and professional services related to financial products and funds in the future[30]. - The group plans to enhance its restaurant services by expanding product offerings and seeking different procurement regions to mitigate supply chain challenges due to COVID-19[86]. - The company plans to strengthen its guarantee financing business operations and explore potential acquisition and investment opportunities[63]. - The company plans to continue focusing on market expansion and new product development to enhance revenue streams in the upcoming periods[129].