Financial Performance - Revenue for the year ended December 31, 2023, was HKD 423,708,000, representing a 34.2% increase from HKD 315,701,000 in 2022[3] - Gross profit decreased to HKD 37,688,000 in 2023 from HKD 38,540,000 in 2022, reflecting a decline of 2.2%[3] - The company reported a loss attributable to equity shareholders of HKD 13,389,000 for 2023, compared to a profit of HKD 7,313,000 in 2022[5] - Basic and diluted loss per share for 2023 was HKD (0.006), compared to earnings per share of HKD 0.003 in 2022[7] - The company reported a net comprehensive loss of HKD 31,690,000 for 2023, compared to a loss of HKD 50,722,000 in 2022, indicating an improvement[9] - The pre-tax profit for the reportable segments decreased to HKD 22,814,000 in 2023 from HKD 28,853,000 in 2022, a decline of 20.5%[29] - The company reported a pre-tax loss of HKD 9,340,000 for 2023, compared to a profit of HKD 12,089,000 in 2022[39] Assets and Liabilities - Cash and cash equivalents decreased to HKD 237,340,000 in 2023 from HKD 330,894,000 in 2022, a decline of 28.2%[3] - Total assets decreased to HKD 769,693,000 in 2023 from HKD 828,252,000 in 2022, a reduction of 7.1%[3] - Net assets decreased to HKD 718,576,000 in 2023 from HKD 774,607,000 in 2022, a decline of 7.2%[12] - The company’s total liabilities decreased to HKD 51,117,000 in 2023 from HKD 53,645,000 in 2022, a decrease of 4.7%[12] - Total reportable segment assets decreased to HKD 715,730,000 in 2023 from HKD 787,931,000 in 2022, a reduction of 9.2%[29] - The total liabilities for reportable segments decreased to HKD 47,419,000 in 2023 from HKD 49,307,000 in 2022, a decline of 3.6%[29] Revenue Breakdown - Semiconductor sales accounted for 86% of total revenue in 2023, increasing from 80% in 2022, with sales reaching HKD 366,970,000[22] - Revenue from photovoltaic power generation decreased to HKD 53,036,000 in 2023, down from HKD 56,214,000 in 2022, representing a decline of 5.7%[22] - Revenue from the sale of processed cigarette films was HKD 3,272,000 in 2023, a slight decrease from HKD 3,728,000 in 2022[22] - Revenue from external customers for the semiconductor segment increased to HKD 366,970,000 in 2023 from HKD 255,344,000 in 2022, representing a growth of 43.8%[27] - Major customer revenue from the semiconductor segment increased significantly to HKD 356,620,000 in 2023 from HKD 240,219,000 in 2022, an increase of 48.5%[32] Expenses and Costs - Administrative expenses increased by approximately HKD 1.6 million or about 6.1% to approximately HKD 28.6 million for the year[59] - Research and development expenses were HKD 2,400,000 in 2023, slightly down from HKD 2,418,000 in 2022[41] - Interest income from bank deposits decreased to HKD 1,228,000 in 2023 from HKD 1,782,000 in 2022, a decline of 31.0%[27] - The company recognized government grants of approximately HKD 50,000 in 2023, compared to HKD 235,000 in 2022, a decrease of 78.7%[32] - The company’s financing costs, specifically interest expenses on lease liabilities, decreased to HKD 828,000 in 2023 from HKD 901,000 in 2022, a reduction of 8.1%[34] Compliance and Governance - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules, confirming compliance by all directors since the beginning of the year[79] - The audit committee was established on June 22, 2012, and currently consists of three independent non-executive directors[82] - The company's auditor has agreed to the figures presented in the consolidated income statement and other comprehensive income, as well as the consolidated financial position[84] Future Outlook - The group anticipates an increase in demand for semiconductor products and plans to focus on the development of semiconductor sales and photovoltaic power generation in 2024[74]

Financial Performance - Revenue increased by approximately 71.2% to approximately HK$226.7 million for the six months ended 30 June 2023 compared to approximately HK$132.4 million for the same period in 2022[4] - Profit attributable to equity shareholders of the Company increased by approximately 339.6% to approximately HK$5.8 million for the six months ended 30 June 2023 compared to approximately HK$1.3 million for the same period in 2022[13] - Earnings per share increased by approximately 339.6% to approximately HK cents 0.237 for the six months ended 30 June 2023 compared to the same period in 2022[4] - Total revenue for the six months ended June 30, 2023, was HK$226,738,000, representing a 71% increase from HK$132,410,000 in the same period of 2022[149] - Profit for the period rose significantly to HK$5,776,000, compared to HK$1,312,000 in 2022, marking a 339.5% increase[108] - The Group's profit for the period attributable to equity shareholders is approximately HK$5,777,000, an increase from HK$1,314,000 in the same period of 2022, representing a growth of 338%[180] Revenue Breakdown - Revenue from sales of semi-conductors was approximately HK$197.3 million for the Period, representing an increase from approximately HK$99.1 million for the same period in 2022[16] - Revenue generated from photovoltaic power stations was approximately HK$27.9 million for the Period, compared to approximately HK$31.0 million for the same period in 2022[23] - Revenue from sales of sub-processing cigarette films was approximately HK$1.3 million for the Period, down from approximately HK$2.0 million for the same period in 2022[15] - Revenue from external customers for the six months ended June 30, 2023, was HK$226,738,000, a significant increase of 71.1% compared to HK$132,410,000 in the same period of 2022[160] - Revenue from sales of semi-conductors was HK$197,327,000, accounting for 86% of total revenue, up from HK$99,062,000 (74% of total revenue) in 2022[149] - Generation of photovoltaic power revenue was HK$27,909,000, which is 12% of total revenue, down from HK$31,022,000 (23% of total revenue) in 2022[149] Profitability and Margins - Gross profit decreased by approximately 15.2% to approximately HK$18.2 million for the six months ended 30 June 2023 compared to the same period in 2022[4] - The gross profit margin decreased by approximately 8.2% to approximately 8.0% for the six months ended 30 June 2023 compared to the same period in 2022[4] - Gross profit for the same period decreased to HK$18,236,000, a decline of 15.7% compared to HK$21,497,000 in 2022[107] - Reportable segment profit before tax for the six months ended June 30, 2023, was HK$13,079,000, down 7% from HK$14,049,000 in the same period of 2022[162] Cash Flow and Financial Position - Cash and cash equivalents amounted to approximately HK$266.1 million as at 30 June 2023, a decrease of approximately HK$64.8 million from approximately HK$330.9 million as at 31 December 2022[38] - The company reported a net decrease in cash and cash equivalents of HK$45,928,000 for the six months ended June 30, 2023, compared to a decrease of HK$26,140,000 in the same period of 2022[117] - Net cash generated from operating activities for the six months ended June 30, 2023, was HK$1,936,000, a significant recovery from a cash outflow of HK$54,989,000 in the prior year[117] - Total non-current assets decreased to HK$254,700,000 from HK$303,017,000 as of December 31, 2022, reflecting a decline of 16.0%[111] - Current assets slightly decreased to HK$522,655,000 from HK$525,235,000, a reduction of 0.1%[111] - Net assets as of June 30, 2023, were HK$726,420,000, down from HK$774,607,000 at the end of 2022, indicating a decrease of 6.2%[112] Employee and Management Information - The Group employed 57 employees as at 30 June 2023, down from 62 employees as at 30 June 2022[51] - The Company has not filled the position of chief executive, with Mr. Guo Yumin acting as chairman and responsible for overall management[93] - The Board believes the absence of a chief executive will not adversely affect the Company, as decisions will be made collectively by the executive Directors[94] Corporate Governance and Compliance - The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers, and all Directors confirmed compliance during the reporting period[95] - The Audit Committee comprises three independent non-executive Directors, ensuring supervision of the financial reporting process and internal controls[96] - The Company maintained sufficient public float as required under the Listing Rules during the six months ended June 30, 2023[102] Market Outlook and Strategic Focus - The Group expects stable demand and supply of memory chips in the second half of 2023 amid a global economic slowdown[61] - The company remains vigilant regarding potential changes in the external economic environment affecting the semiconductor sector[62] - The company is focusing on the development of its semiconductor division amidst the ongoing economic challenges[62] - Future outlook includes continued focus on expanding semi-conductor sales and exploring new markets for photovoltaic power generation[159]

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，並明確表示概不就因本公告全 部或任何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Sheen Tai Holdings Group Company Limited 順 泰 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：01335） 截 至2023年6月30日 止 六 個 月 中 期 業 績 公 告 財務摘要 • 截至2023年6月30日止六個月的收入約226.7百萬港元，較2022年同期增加 約71.2%。 • 截至2023年6月30日止六個月的毛利約18.2百萬港元，較2022年同期減少 約15.2%。 • 截至2023 年6 月30 日止六個月的毛利率約8.0%，較2022年同期下降約8.2%。 • 截至2023年6月30日止六個月的本公司權益股東應佔溢利約5.8百萬港元， 較2022年同期增加約339.6%。 • 截至2023 年6 月30 日止六個月的每股盈利約0.237港仙，較2022年同期增 加約339.6%。 ...

Financial Performance - Revenue for the year ended December 31, 2022, was HK$315,701,000, representing a 378% increase compared to HK$66,113,000 in 2021[11] - Profit from operations for 2022 was HK$12,990,000, a significant turnaround from a loss of HK$5,159,000 in 2021, marking a 352% improvement[11] - The profit attributable to equity shareholders of the Company was HK$7,313,000 in 2022, compared to a loss of HK$6,794,000 in 2021, reflecting a 208% increase[11] - The basic earnings per share for 2022 was HK$0.003, a 200% increase from a loss of HK$0.003 in 2021[11] - Non-controlling interests decreased to HK$9,000 in 2022 from HK$110,000 in 2021, a reduction of 92%[11] - The total revenue for the year was approximately HK$315.7 million, representing an increase of approximately 377.5% compared to approximately HK$66.1 million for the year ended 31 December 2021[28] - Revenue from sales of semi-conductors was approximately HK$255.3 million for the year, marking the primary source of revenue growth[31] - The gross profit increased by approximately HK$2.1 million, or approximately 5.8%, from approximately HK$36.4 million for the year ended 31 December 2021 to approximately HK$38.5 million for the year[42] - The gross profit margin decreased from approximately 55.1% for the year ended 31 December 2021 to approximately 12.2% for the year, primarily due to lower margins in the semi-conductor segment[42] - The income tax expense for the year amounted to approximately HK$4.8 million, compared to approximately HK$0.8 million for the year ended 31 December 2021[47] Business Strategy and Operations - The new semiconductor sales business contributed significantly to revenue growth in 2022, with expectations for even greater contributions in the future[16] - The Group disposed of a subsidiary, Treasure Cloud Limited, in 2022 to reallocate resources towards existing businesses and the new semiconductor venture[15] - The Group plans to expand into existing and new business markets as the economies of Hong Kong and the mainland recover in 2023[17] - The Group established a new sales segment focused on trading semi-conductor memory chips and wafers in 2022, anticipating steady demand growth[87] - The Group focuses on sales of sub-processing cigarette films, sales of semiconductors, property development, and photovoltaic power generation, with principal facilities located in the PRC[96] Financial Management and Cost Control - The Group will implement stricter financial budgeting and cost controls in response to rising operating costs due to high global inflation[17] - Administrative expenses decreased by approximately HK$3.4 million, or approximately 11.2%, from approximately HK$30.4 million for the year ended 31 December 2021 to approximately HK$27.0 million for the year[44] - The Group has adopted a prudent financial management approach, maintaining a healthy liquidity position throughout the Year[88] - The Group maintained a prudent financial management policy throughout the year, ensuring a stable liquidity position[93] - As of December 31, 2022, the Group had no capital commitments, consistent with the previous year[94] ESG and Sustainability - The ESG report covers the period from January 1, 2022, to December 31, 2022, detailing the Group's operational practices and environmental protection strategies[98] - The Board is responsible for overseeing the Group's ESG strategy, including the evaluation of ESG-related risks and opportunities[116] - The Group conducts ongoing ESG-related risk management and opportunities assessment in collaboration with the Audit Committee and Internal Audit[117] - The Group aims to enhance the Board's knowledge and awareness of the ESG landscape as part of its sustainability journey[115] - The Group identified 23 material ESG topics that impact the environment and society through its operations, following the ESG Reporting Guide[129] - The overall ESG performance and related risk assessments will be reported to the Board annually to ensure the achievement of the Group's ESG strategy and goals[125] - The Group's ESG strategy includes initiatives for environmental risk management, energy consumption, and waste management[132] - The material ESG issues include air emissions, greenhouse gas emissions, and hazardous waste management, which are critical for the Group's sustainability efforts[132] - The Group emphasizes the importance of community investment and anti-corruption practices as part of its social responsibility initiatives[134] Environmental Impact and Emissions - The Group has focused on environmental protection and pollutant emission during production and operation, ensuring compliance with regulatory standards for air, water, and land discharges[155] - During the year, the Group did not encounter any incidents of non-compliance with applicable laws and regulations related to air emissions, effluent discharges, noise emissions, greenhouse gases, and waste[156] - The Group's air emissions primarily come from vehicle usage and production processes, including the emission of sulphur oxides (SOx), nitrogen oxides (NOx), and particulate matter (PM)[157] - The Group's total greenhouse gas emissions (Scope I and II) amounted to 481.6 tonnes of CO2 equivalent (tCO2e) in 2022, a decrease from 680.2 tCO2e in 2021[178] - The carbon intensity for Scope I and II emissions was 0.02 tCO2e per square meter of gross floor area in 2022, down from 0.03 tCO2e in 2021[178] - The Group produced 55.5 million kilowatt-hours (kWh) of electricity from photovoltaic power stations in 2022, with a total sale of 55.1 million kWh, resulting in an overproduction of 0.8%[179] - The replacement of high-environmental impact electricity from fossil fuel sources avoided the release of 43,619.3 tCO2e of greenhouse gases[179] - The Group's Scope I emissions (direct emissions) increased to 17.7 tCO2e in 2022 from 9.4 tCO2e in 2021 due to the additional vehicle acquisition[178] - Scope II emissions (indirect emissions) decreased to 463.9 tCO2e in 2022 from 670.8 tCO2e in 2021, primarily due to reduced electricity consumption[178] Waste Management - The total non-hazardous waste generated by the Group in 2022 was 1,327.9 kg, with a non-hazardous waste intensity of 0.06 kg per square meter gross floor area[199] - The Group's non-hazardous waste in 2021 was 739.6 kg, indicating a significant increase of approximately 79.8% in 2022[199] - The Group has implemented waste separation systems and recycling bins to enhance recycling efforts[200] - The Group prioritizes waste recycling and aims to reduce hazardous waste generation by exploring less hazardous alternatives[188] - The Group's hazardous waste mainly consists of waste printer cartridges, which do not have a material impact on operations[189] - The Group's incineration method for non-hazardous waste is aimed at energy efficiency, accumulating waste until approximately 2 tonnes before disposal[197]

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，並明確表示概不就因本公告全 部或任何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Sheen Tai Holdings Group Company Limited 順 泰 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：01335） 全 年 業 績 公 告 截 至2022年12月31日 止 年 度 集團財務概要 截至2022年12月31日止年度（以港元為單位） 2022年 2021年 千港元 千港元 收入 315,701 66,113 毛利 38,540 36,443 稅前溢利╱（虧損） 12,089 (6,129) 應佔溢利╱（虧損）： 本公司權益股東 7,313 (6,794) 每股盈利╱（虧損） 基本（每股港元） 0.003 (0.003) ...

Revenue and Profitability - Revenue increased by approximately 265.9% to approximately HK$132.4 million for the six months ended 30 June 2022 compared to the corresponding period in 2021[5] - Gross profit increased by approximately 10.6% to approximately HK$21.5 million for the six months ended 30 June 2022 compared to the corresponding period in 2021[9] - Profit attributable to equity shareholders of the Company decreased by approximately 69.0% to approximately HK$1.3 million for the six months ended 30 June 2022 compared to the corresponding period in 2021[6] - Earnings per share decreased by approximately 69.0% to approximately HK cents 0.054 for the six months ended 30 June 2022 compared to the corresponding period in 2021[11] - The total comprehensive loss for the period was HK$30,834,000, compared to a total comprehensive income of HK$10,651,000 in the same period of 2021[118] - The Group's profit for the period attributable to equity shareholders is approximately HK$1,314,000 for the six months ended June 30, 2022, a decrease of 69% compared to HK$4,242,000 for the same period in 2021[196] Revenue Segmentation - The Group recorded revenue from sales of semi-conductors amounting to approximately HK$99.1 million during the Period[23] - Revenue generated from the generation of photovoltaic power was approximately HK$31.0 million for the Period[25] - The revenue from sales of sub-processing cigarette films was approximately HK$2.0 million for the Period[22] - Properties development revenue contributed approximately HK$0.3 million to the Group for the Period[24] - Revenue from photovoltaic power generation was approximately HK$31.0 million, an increase from HK$30.2 million in the previous period[29] - Sales of semi-conductors reached HK$99,062,000, accounting for 74% of total revenue, with no sales reported in the previous year[143] - Generation of photovoltaic power contributed HK$31,022,000, reflecting an 83% increase compared to HK$30,186,000 in the prior year[143] - Sales of sub-processing cigarette films decreased to HK$1,988,000, down 65% from HK$5,659,000 in the same period last year[143] - Properties development and related services generated HK$338,000, a slight decrease from HK$343,000 in the previous year[143] Business Operations and Strategy - The Group's business is now classified into four segments: sales of sub-processing cigarette films, sales of semi-conductors, properties development and related services, and generation of photovoltaic power[21] - The Group commenced a new business in the sales of semi-conductors in the first half of 2022, anticipating a significant increase in demand as the economy recovers from the COVID-19 pandemic[67] - The Group disposed of Treasure Cloud Limited, which focused on cloud-related business, to rearrange resources for existing and new businesses[19] - The strategic shift led to the discontinuation of the cloud-related business segment, which was previously part of the company's operations[158] - The company plans to continue focusing on its core segments while exploring opportunities for market expansion and new product development[158] Financial Position and Cash Flow - Cash and cash equivalents decreased to approximately HK$298.2 million from approximately HK$344.9 million as of December 31, 2021[48] - Total current assets as of June 30, 2022, were HK$525,940,000, down from HK$540,055,000 at the end of 2021, a decrease of 2.4%[120] - Trade and other receivables increased to HK$221,707,000 from HK$180,322,000, marking a rise of 22.9%[120] - Net assets as of June 30, 2022, were HK$794,495,000, down from HK$825,329,000 at the end of 2021, a decrease of 3.7%[123] - For the six months ended June 30, 2022, the net cash used in operating activities was HK$48,950,000, compared to HK$25,751,000 for the same period in 2021, indicating a significant increase in cash outflow[130] - The company reported a net decrease in cash and cash equivalents of HK$26,140,000 for the period, compared to a decrease of HK$19,109,000 in the previous year[130] Corporate Governance and Management - The Company has not appointed a chief executive officer, with Mr. Guo Yumin acting as chairman and responsible for overall management[102] - The Board believes the absence of a chief executive will not adversely affect the Company, as decisions are made collectively by executive Directors[104] - The Company has complied with the corporate governance code provisions during the reporting period, except for the absence of a chief executive[101] - The Audit Committee comprises three independent non-executive Directors, ensuring oversight of financial reporting and internal controls[108] Shareholder Information - As of June 30, 2022, Mr. Guo Yumin holds 1,206,086,000 shares, representing approximately 49.55% of the company's shares[70] - Ms. Xia Yu holds 1,478,442,164 shares, which accounts for approximately 60.74% of the company's shares, including her spouse's interests[70] - The total number of shares beneficially owned by Ms. Fan Qing is 800,000, representing 0.03% of the company's shares[70] - The company has not been notified of any other persons holding interests or short positions in shares or underlying shares that require disclosure under the Securities and Futures Ordinance as of June 30, 2022[79] Taxation and Compliance - Jiangsu Sheen Colour Science Technology Co., Ltd. is subject to a preferential enterprise income tax rate of 15% for the six months ended June 30, 2022, consistent with the previous year[179] - Xuzhou Sheentai New Energy Power Generation Co., Ltd. is entitled to a 3+3 tax holiday, receiving tax exemptions for the first three years and a 50% reduction for the next three years starting from the year it first generates operating income[184] - Xuyi Guangcai Information Technology Co., Ltd. is entitled to a 2+3 tax holiday, receiving tax exemptions for the first two years and a 50% reduction for the next three years starting from the year it first generates operating income[185] - The withholding tax rate applicable to the Group for dividends receivable is 5% under the tax arrangement between Mainland China and Hong Kong[186] Employee and Operational Metrics - The Group employed 61 employees as of June 30, 2022, a slight decrease from 62 employees in the previous year[65] - The company has not engaged in any arrangements that enable Directors or the chief executive to acquire benefits through share acquisition during the six months ended June 30, 2022[81] - The Group recognized a right-of-use asset and lease liability of approximately HK$1,187,000 upon entering a new lease agreement for an office for 2 years during the six months ended June 30, 2022[196]

Financial Performance - Revenue from continuing operations decreased by 17% to HK$66,113,000 in 2021 from HK$79,525,000 in 2020[9] - Loss from operations from continuing operations was HK$5,159,000 in 2021 compared to a profit of HK$15,184,000 in 2020, representing a 134% decline[9] - Loss attributable to equity shareholders of the Company was HK$6,794,000 in 2021, a 145% decrease from a profit of HK$15,053,000 in 2020[9] - Revenue from property development was approximately HK$0.4 million, a significant decrease from approximately HK$21.4 million in the previous year due to reduced sales of remaining inventories[33] - The Group recorded a loss attributable to equity shareholders of approximately HK$6.8 million for the Year, compared to a profit of approximately HK$15.1 million for the year ended 31 December 2020, representing a significant decline[54] Business Segments - The photovoltaic power business remained stable, with the Xuzhou power plant operating well, contributing to consistent revenue[14] - New products in the sub-processing film segment were successfully developed and launched, leading to a significant increase in sales[14] - Revenue from the properties development segment significantly decreased due to the sale of lower-priced inventory, primarily storage rooms and parking lots[14] - The Group recorded revenue of approximately HK$8.1 million from sales of sub-processing cigarette and non-cigarette films, an increase from approximately HK$5.1 million in the previous year[32] - The photovoltaic power generation segment generated approximately HK$57.6 million in revenue, up from approximately HK$53.0 million in the previous year, with a total grid-connected capacity of 40 megawatts[34] Cost and Expenses - Gross profit decreased by approximately HK$7.0 million, or 16.1%, from approximately HK$43.4 million to approximately HK$36.4 million, while gross profit margin increased from approximately 54.5% to approximately 55.1%[35] - Administrative expenses decreased by approximately HK$0.9 million, or 2.9%, from approximately HK$31.3 million to approximately HK$30.4 million[45] - Impairment losses on trade and other receivables increased to approximately HK$14.6 million from approximately HK$0.6 million in the previous year, attributed to greater financial uncertainty due to the COVID-19 pandemic[47] - Selling and distribution expenses remained stable at approximately HK$0.5 million, unchanged from the previous year[43] Strategic Initiatives - The Company plans to actively seek investment opportunities and prioritize market and professional team building for future growth[15] - The Group aims to launch more new projects and build corresponding professional teams to create development opportunities[15] - The Group plans to actively seek different investment opportunities to create more profits and will appropriately launch more new projects in the future[30] - The Group's focus on the development of residential properties and photovoltaic power sales indicates a strategic shift towards sustainable energy solutions[30] Financial Position - As of 31 December 2021, the Group's cash and cash equivalents amounted to approximately HK$344.9 million, an increase of approximately HK$18.8 million from HK$326.1 million as of 31 December 2020[56] - The Group's current ratio improved to 18.9 as of 31 December 2021, compared to 16.2 as of 31 December 2020, indicating a stronger liquidity position[56] - Total capital expenditure for the Year was approximately HK$2.0 million, reflecting the Group's investment activities[64] - The Group did not have any material bank loans or borrowings as of 31 December 2021, maintaining a debt-free status[58] - The income tax expense decreased to approximately HK$0.8 million for the Year, down from approximately HK$4.4 million for the year ended 31 December 2020, primarily due to a refund of PRC land appreciation tax[51] Human Resources - The Group employed 67 employees as of 31 December 2021, down from 74 employees in the previous year, with total staff costs of approximately HK$14.4 million for the Year[68] Dividend and Investments - The Board does not recommend payment of any final dividend for the Year, consistent with the previous year[71] - There were no significant investments, material acquisitions, or disposals by the Group during the Year, indicating a conservative approach to capital allocation[64] - As of December 31, 2021, the Group had no capital commitments, consistent with the previous year[85] Sustainability and ESG - The ESG report covers the period from January 1, 2021, to December 31, 2021, and includes major subsidiaries contributing to total revenue[93] - The Group has included Xuzhou Shuntai New Energy Power Generation Co., Ltd. in this year's report due to its increasing contribution to total revenue[93] - The assessment of ESG-related risks includes environment, human resources, health and safety, and compliance, integrated into risk management processes[106] - The Group adopts a three-step process of identification, prioritization, and validation to manage sustainability topics according to their materiality[107] - A total of 23 sustainability topics have been identified that impact the environment and society through operations[110] - The Group emphasizes the importance of occupational health and workplace safety, ranking it as the highest material topic[121] - Quality and safety of goods/services is ranked second, highlighting the Group's commitment to maintaining high standards[121] - Customer satisfaction is identified as a critical area, reflecting the Group's focus on enhancing client relationships[121] - The Group has established multiple engagement channels for stakeholders, including employees, customers, suppliers, shareholders, government, and community[129] - The Group's environmental risk management and ecological impacts are also considered significant, indicating a proactive approach to sustainability[121] - The Group's commitment to anti-corruption and anti-competitive practices is emphasized, showcasing its dedication to ethical business conduct[121] - Employee development and training are prioritized, demonstrating the Group's investment in its workforce[121] - The Group actively engages with stakeholders to shape its business strategies and respond to their needs and expectations[125] - The Group's performance on high and low materiality topics is disclosed, ensuring transparency in its operations[124] - The Group's focus on compliance with laws and regulations reflects its commitment to corporate governance and sustainability[132] Environmental Impact - The Group aims to maintain similar levels of emissions and waste in 2022 compared to the current year, focusing on clean production and pollution reduction[139] - In 2021, the Group emitted 3.4 kg of Nitrogen Oxides, 0.1 kg of Sulphur Oxides, and 0.2 kg of Particulate Matter[146] - The Group generated a total of 680.2 tonnes of carbon dioxide equivalent (tCO2e) of greenhouse gases in 2021, with a carbon intensity of 0.03 tCO2e per square meter gross floor area[157] - The Group produced 54.6 million kilowatt-hours (kWh) of electricity from photovoltaic power stations in 2021, selling 54.0 million kWh, resulting in 1.1% overproduction[159] - The replacement of high-environmental impact electricity from fossil fuel sources avoided the release of 32,923.4 tCO2e of greenhouse gases[159] - The Group's carbon footprint is primarily due to electricity usage, accounted under Scope II emissions[157] - All discharges to air, water, and land are compliant with regulatory standards, with no incidents of non-compliance reported during the year[141] - Regular maintenance of machinery and vehicles is conducted to ensure fuel efficiency and reduce emissions[142] - The Group's activities are minor sources of noise emissions, with regular monitoring to ensure compliance with regulatory levels[152] - The Group's environmental management systems ensure strict compliance with environmental regulations across all subsidiaries[137] - The Group's photovoltaic power stations generated a total of 54.6 million kWh of electricity in 2021, with a sales volume of 54.0 million kWh, resulting in a surplus of 1.1%[161] - The Group's solar power operations helped avoid the emission of 32,923.4 tons of CO2 equivalent greenhouse gases[161] - The total energy consumption for the Group in 2021 was 194,154.1 GJ, with a total energy intensity of 8.92 GJ per square meter of gross floor area[181] - The Group generated a total of 739.6 kg of non-hazardous waste in 2021, resulting in a non-hazardous waste intensity of 0.03 kg per square meter of gross floor area[174] - The Group's direct and indirect energy consumption amounted to 190,196.1 GJ in 2021[183] - The Group's energy profile is primarily based on electricity for facility operations, with fuel used for electricity being the major source of energy emissions[181] - The Group has implemented measures to reduce greenhouse gas emissions by lowering energy consumption in major areas such as air conditioning and lighting systems[167] - The Group encourages the use of video conferencing to minimize carbon footprints from overseas business trips[167] - The Group's hazardous waste mainly consisted of waste printer cartridges, which did not have a material impact on operations[171] - The Group aims to explore opportunities to replace hazardous materials with less hazardous alternatives as part of its sustainable development principles[166] - The Group consumed a total of 17,179 cubic meters of water during the year, resulting in a water intensity of 0.81 cubic meters per square meter of gross floor area[192] - A total of 8,463.0 kg of packaging material was consumed for finished products, leading to an intensity of 0.94 kg per square meter of gross floor area[198] - The Group has implemented energy-efficient measures, including the installation of LED lighting and cooling systems, to minimize fuel and electricity consumption[186] - The Group prioritizes effective water-saving products and raises staff awareness in water conservation through education and promotion[191] - The Group regularly checks for leakages and damages in piping and taps to ensure prompt repairs and reduce water consumption[191] - The Group aims to consider more sustainable approaches to product packaging early in the design phase[198] - The Group has adopted power-saving modes for office devices to minimize energy usage[186] - The Group complies with the Building Energy Efficiency Ordinance in property development planning, design, and construction[186] - The Group conducts comprehensive photovoltaic resource tests to minimize the impact of climate change on electricity generation[200]

Revenue and Profitability - Revenue increased by approximately 23.2% to approximately HK$36.2 million for the six months ended 30 June 2021 compared to the corresponding period in 2020[9]. - Profit attributable to equity shareholders increased by approximately 37.8% to approximately HK$4.2 million for the six months ended 30 June 2021 compared to the corresponding period in 2020[10]. - Earnings per share increased by approximately 38.1% to approximately HK cents 0.174 for the six months ended 30 June 2021 compared to the corresponding period in 2020[10]. - Profit from operations increased significantly to HK$5,812,000 compared to HK$1,355,000 in the previous year, reflecting a substantial operational improvement[115]. - Profit before tax rose to HK$5,319,000, compared to HK$761,000 in the prior year, marking a significant increase[115]. - The profit for the period from continuing operations was HK$4,176,000, a turnaround from a loss of HK$23 in the same period last year[115]. - The total comprehensive income for the period was HK$10,651,000, compared to a loss of HK$12,256,000 in the same period of 2020, indicating a strong recovery[120]. Segment Performance - Revenue from the sub-processing films segment rose from approximately HK$0.7 million for the six months ended 30 June 2020 to approximately HK$5.7 million for the Period[30]. - Revenue from photovoltaic power generation increased to approximately HK$30.2 million during the Period, up from approximately HK$27.0 million for the six months ended 30 June 2020[37]. - The generation of photovoltaic power segment reported a profit before tax of HK$16,257,000 in 2021, up from HK$8,112,000 in 2020, showing a strong performance[176]. - The properties development and related services segment generated revenue of HK$1,721,000 in 2021, compared to HK$30,186,000 in 2020, indicating a decline[176]. Financial Position - As of 30 June 2021, the Group had cash and cash equivalents totaling approximately HK$310.7 million[51]. - Total equity increased to HK$827,866,000 as of June 30, 2021, compared to HK$812,842,000 at the end of 2020, showing growth in shareholder value[126]. - Current assets increased to HK$539,483,000 from HK$529,326,000, driven by a significant rise in inventories from HK$7,692,000 to HK$24,727,000[123]. - Total current liabilities decreased to HK$26,989,000 from HK$32,721,000, reflecting improved management of trade payables[126]. - The company maintained a strong cash position with bank and cash balances of HK$310,698,000, slightly down from HK$326,060,000[123]. Expenses and Costs - Administrative expenses decreased by approximately HK$5.2 million from approximately HK$18.0 million for the six months ended 30 June 2020 to approximately HK$12.8 million for the Period[39]. - Finance costs incurred during the Period were approximately HK$0.5 million, a decrease from approximately HK$0.6 million for the six months ended 30 June 2020[40]. - Total borrowing costs decreased to HK$493,000 from HK$594,000, a reduction of 17%[184]. Corporate Governance - The Directors recognized the importance of good corporate governance and adhered to the principles to uphold shareholders' interests[98]. - The Company complied with the Corporate Governance Code provisions, except for the separation of roles between chairman and chief executive[101]. - The Group's corporate governance practices are based on the principles set out in the Corporate Governance Code[99]. Investment and Future Plans - The company plans to focus on investment opportunities in the photovoltaic industry, anticipating long-term profitability as China aims for carbon neutrality over the next four decades[71]. - The company is committed to evaluating investment opportunities in clean energy as part of its strategy for sustainable development[71]. - The company will focus on prudent evaluations before pursuing investments in the photovoltaic sector[71]. Employment and Workforce - The Group's workforce decreased to 62 employees as of 30 June 2021, down from 242 employees a year earlier[65]. - As of June 30, 2021, the company employed 62 employees, a significant decrease from 242 employees as of June 30, 2020[69]. Dividends - The Board does not recommend payment of any interim dividend for the six months ended 30 June 2021[11]. - The board does not recommend any interim dividend for the period, compared to HK$0.01 per share for the six months ended 30 June 2020[66]. Cash Flow - For the six months ended June 30, 2021, net cash used in operating activities was HK$ (23,196,000), a decrease from HK$ 76,218,000 in the same period of 2020[134]. - Cash and cash equivalents at June 30, 2021, amounted to HK$ 310,698,000, compared to HK$ 243,327,000 at the end of June 2020, reflecting an increase of 27.7%[134]. - Interest received increased to HK$ 838,000 in 2021 from HK$ 219,000 in 2020, representing a growth of 282.2%[134]. Taxation - Current tax provision for the period was HK$1,481,000, compared to HK$1,388,000 in the same period of 2020, reflecting a slight increase[186]. - The Group's effective tax rate for Jiangsu Sheen Colour Science Technology Co., Ltd. remained at a preferential rate of 15% for the period ended 30 June 2021[191].

Financial Performance - Revenue from continuing operations increased by 6% to HK$79,525,000 in 2020, compared to HK$75,259,000 in 2019[9] - Profit from operations from continuing operations was HK$15,184,000, a significant recovery from a loss of HK$19,809,000 in 2019, representing a 177% improvement[9] - Profit attributable to equity shareholders of the Company was HK$15,053,000, compared to a loss of HK$47,873,000 in the previous year, marking a 131% increase[9] - Basic earnings per share improved to HK$0.006 from a loss of HK$0.020 in 2019, reflecting a 130% increase[9] - The Group recorded revenue of approximately HK$5.1 million from sales of sub-processing cigarette and non-cigarette films, a decrease from approximately HK$7.5 million in the previous year[35] - Revenue from properties development increased significantly from approximately HK$8.8 million in the previous year to approximately HK$21.4 million for the current year[36] - The Group's gross profit increased by approximately HK$7.4 million, or approximately 20.3%, from approximately HK$36.0 million for the year ended 31 December 2019 to approximately HK$43.4 million for the Year[41] - The gross profit margin improved from approximately 47.9% for the year ended 31 December 2019 to approximately 54.5% for the Year[44] - Selling and distribution expenses decreased by approximately HK$0.4 million, or approximately 45.7%, from approximately HK$0.9 million for the year ended 31 December 2019 to approximately HK$0.5 million for the Year[42] - Administrative expenses decreased by approximately HK$11.4 million, or approximately 26.8%, from approximately HK$42.7 million for the year ended 31 December 2019 to approximately HK$31.3 million for the Year[43] - The Group recorded a profit attributable to equity shareholders of approximately HK$15.1 million for the Year, compared to a loss of approximately HK$47.9 million for the year ended 31 December 2019[53] Asset Management and Business Strategy - The company disposed of its factory in Qingdao, which improved asset turnover and generated additional cash inflow[13] - The company plans to allocate cash and resources towards product development and potential trials to strengthen its existing business[14] - Future business development will focus on expanding production networks and diversifying operations primarily in the Huaihai district[14] - The company is engaging with local developers and factories in Jiangsu Province to explore potential cooperation opportunities[14] - The Group disposed of Qingdao Ener Packaging Technology Co., Ltd., which was primarily involved in the manufacturing and sales of BOPP films, on December 10, 2020[24] - Following the disposal, the Group reclassified its operations into four business segments: sales of sub-processing cigarette films, properties development, generation of photovoltaic power, and cloud-related business[31] - The Board noted that Qingdao Ener had been loss-making for the last two financial years, prompting the decision to dispose of the subsidiary to improve asset turnover and generate additional cash inflow[29] - The Group is focusing on high-quality development and expanding its production network, particularly in the Huaihai region, to achieve sustainable business growth[16] - The Group is currently exploring potential projects to enhance its existing business and capture market opportunities[16] - The Group aims to strengthen its collaboration with local developers and factories in Jiangsu Province for potential partnerships[16] - The financial performance of Qingdao Ener deteriorated, leading to the belief that its profitability would not be sustainable[29] - The Group's strategy includes reallocating resources to product development and potential trials to support business growth[16] Challenges and Market Conditions - The financial year 2020 was impacted by COVID-19, leading to uncertainties in the BOPP film market and affecting production management[13] - The company anticipates further challenges due to rising raw material costs, which may impact profitability[13] Liquidity and Capital Management - As at 31 December 2020, the Group's cash and cash equivalents amounted to approximately HK$326.1 million, an increase of approximately HK$160.7 million from approximately HK$165.4 million as at 31 December 2019[55] - The total capital expenditure for the Year amounted to approximately HK$4.8 million[61] - The Group did not have any material bank loans as at 31 December 2020, compared to approximately HK$69.9 million as at 31 December 2019[55] - As of December 31, 2020, the Group did not have any capital commitments, similar to the situation as of December 31, 2019[80] - The Group has maintained a healthy liquidity position throughout the year by adopting a prudent financial management approach towards its treasury policies[77] Human Resources and Employment Practices - As of December 31, 2020, the Group employed 74 employees, a decrease from 245 employees as of December 31, 2019, with total staff costs of approximately HK$12.7 million for the year[71] - The Group's human resources policies ensure fair recruitment and promotion processes, adhering to relevant labor laws and regulations[183] - The Group has not encountered any incidents of non-compliance with major applicable laws and regulations related to employment during the year[183] - The Group prioritizes water-saving products and promotes water-saving habits throughout its premises[173] - The Group's remuneration package includes competitive salaries, incentive schemes, and discretionary bonuses[188] - The Group has a zero-tolerance policy for sexual harassment and other forms of abuse in the workplace[191] - The Group emphasizes a healthy work-life balance culture, ensuring compliance with legal working hour requirements[198] - Regular reviews are conducted to optimize work-life balance arrangements for employees[199] - Recreational events were organized during the year to promote social bonding among employees[198] Environmental, Social, and Governance (ESG) Initiatives - The Group has identified 23 material sustainability topics that impact the environment and society through its operations[95] - The Group's management conducts regular reviews of ESG-related metrics to ensure sustainability topics are managed and reported according to their materiality[93] - The Group has identified 23 key environmental, social, and governance (ESG) topics that impact its operations[98] - The Board regularly reviews and validates the materiality process, ensuring transparency in the Group's performance on high and low materiality topics[111] - High materiality topics include occupational health and safety, quality and safety of goods/services, and customer satisfaction[108] - The Group engages with a wide network of stakeholders, including employees, customers, suppliers, shareholders, government, and community[113] - The Group employs a three-step process to prioritize ESG topics based on their significance to stakeholders and the Group[104] - The Group is committed to maintaining effective communication channels with stakeholders to better shape its business strategies[116] - The Group's sustainability strategy is integrated into its overall corporate strategy, focusing on enhancing awareness of ESG issues at the Board level[102] - The Group emphasizes the importance of environmental risk management and climate-change strategy in its operations[101] - The Group's commitment to anti-corruption and anti-competitive practices is highlighted as a key governance issue[108] - The Group aims to strengthen its supply chain management as part of its sustainability initiatives[108] Environmental Compliance and Impact - The Group released 11.0 kg of Nitrogen Oxides, 0.2 kg of Sulphur Oxides, and 0.8 kg of Particulate Matter in 2020[129] - A total of 146 cubic meters of wastewater was discharged during the year, complying with the PRC Law on the Prevention and Treatment of Water Pollution[131] - The Group ensures all air, water, and land discharges comply with regulatory standards, with no incidents of noncompliance reported in 2020[126] - The Group's activities are minor sources of noise emissions, with regular maintenance ensuring compliance with regulatory limits[136] - The Group is committed to environmental sustainability, managing its direct and indirect impacts through clean production and energy-saving initiatives[123] - The management systems of each subsidiary ensure strict environmental compliance and continual improvement towards cleaner practices[124] - Regular monitoring and testing of effluent discharges ensure no adverse environmental impacts, adhering to applicable laws and regulations[131] - The Group's commitment to reducing air pollutants includes further curbing emissions beyond statutory requirements[128] - The Group generated a total of 610.3 tonnes of greenhouse gases (Scope I and II), resulting in a carbon intensity of 0.02 tCO2e per square meter gross floor area[143] - Scope II emissions, primarily from electricity usage, accounted for 579.8 tonnes of CO2e, representing 95% of the total emissions[143] - The Group's total energy consumption was 2,532.2 GJ, with direct energy consumption at 376.1 GJ and indirect energy consumption at 2,156.1 GJ, leading to an energy intensity of 0.07 GJ per square meter gross floor area[164] - During the Year, the Group generated a total of 1,200 kg of non-hazardous waste, resulting in a non-hazardous waste intensity of 0.03 kg per square meter gross floor area[156] - The Group's hazardous waste consisted of waste printer cartridges, which did not have a material impact on operations[150] - The Group aims to improve resource efficiency and has encountered no incidents of non-compliance with laws related to energy and water resource usage[162] - The Group encourages the use of video conferencing to minimize the carbon footprint from overseas business trips[145] - The Group emphasizes waste reduction and recycling, with a focus on reducing the generation of non-hazardous waste[154] - The Group's carbon footprint is primarily due to electricity usage, which is accounted under Scope II emissions[141] - The Group has established clear protocols for the safe handling and storage of hazardous waste[148] - The Group consumed a total of 2,196 cubic meters of water during the year, resulting in a water intensity of 0.07 cubic meters per square meter of gross floor area[176] - The Group has implemented energy-efficient measures, including the installation of LED lighting and cooling systems, to minimize fuel and electricity consumption[170]

Revenue Performance - Revenue decreased by approximately 23.4% to approximately HK$164.7 million for the six months ended 30 June 2020 compared to the corresponding period in 2019[6]. - Revenue for the period decreased by approximately HK$50.2 million, from about HK$214.9 million in the corresponding period last year[18]. - Revenue from the manufacturing and sales of BOPP films dropped from approximately HK$175.0 million to approximately HK$135.3 million[19]. - Revenue from the generation of photovoltaic power slightly decreased by HK$0.8 million, from approximately HK$27.8 million to approximately HK$27.0 million[23]. - Total revenue for the six months ended June 30, 2020, was HK$164,719,000, a decrease from HK$214,908,000 in the same period of 2019, representing a decline of approximately 23.3%[162]. - Revenue from cigarette films was HK$110,886,000, accounting for 67% of total revenue, while non-cigarette-related films generated HK$24,448,000, contributing 15%[162]. - The photovoltaic power generation segment reported revenue of HK$27,013,000, representing 17% of total revenue, consistent with the previous year[162]. Profitability - Gross profit increased by approximately 13.0% to approximately HK$54.6 million for the six months ended 30 June 2020 compared to the corresponding period in 2019[9]. - Gross profit margin increased by approximately 10.6% to approximately 33.1% for the six months ended 30 June 2020 compared to the corresponding period in 2019[8]. - The Group recorded a profit attributable to equity shareholders of approximately HK$3.1 million for the six months ended 30 June 2020 compared to a loss of approximately HK$0.2 million for the corresponding period in 2019[10]. - Profit attributed to the shareholders of the company for the period was approximately HK$3.1 million[26]. - Profit for the period was HK$1,491,000, a significant improvement from a loss of HK$242,000 in the previous year[110]. - The Group's consolidated profit before tax for the first half of 2020 was HK$664,000, a decrease from HK$1,649,000 in the same period of 2019[182]. Cash Flow and Liquidity - The group had cash and cash equivalents totaling approximately HK$243.3 million as of June 30, 2020[27]. - The net cash inflow from operating activities for the six months ended June 30, 2020, was approximately HK$76.2 million[27]. - Bank and cash balances increased significantly from HK$165,438,000 to HK$243,327,000, marking an increase of approximately 47%[114]. - The total cash and cash equivalents at June 30, 2020, amounted to HK$243,327,000, up from HK$151,456,000 at the same date in 2019, reflecting a strong liquidity position[129]. - The company’s cash and cash equivalents increased by HK$84,788,000 in the first half of 2020, contrasting with a decrease of HK$31,991,000 in the same period of 2019[129]. Expenses and Costs - Finance costs incurred during the period were approximately HK$2.6 million, down from approximately HK$3.8 million for the six months ended June 30, 2019[25]. - Administrative expenses decreased to HK$31,247,000 from HK$37,796,000, reflecting a reduction of 17.4%[108]. - Total borrowing costs decreased to HK$2,556,000 in 2020 from HK$3,802,000 in 2019, reflecting a reduction in interest on bank borrowings[191]. - Interest received decreased to HK$219,000 from HK$697,000 in the prior year, reflecting a decline in interest income[129]. Dividends - The Board approved payment of an interim dividend of HK$0.01 per share for the six months ended 30 June 2020, compared to no dividend for the same period in 2019[11]. - The interim dividend will be paid around October 9, 2020, to shareholders on record as of September 25, 2020[56]. - The company's share register will be closed from September 24 to September 25, 2020, for dividend eligibility[56]. Employee and Corporate Governance - As of June 30, 2020, the Group employed 242 employees, a decrease from 249 employees as of June 30, 2019[50]. - The company recognized the importance of good corporate governance and adhered to the principles outlined in the Corporate Governance Code during the reporting period[87]. - The company complied with the code provisions of the Corporate Governance Code during the period, except for the absence of a chief executive[88]. - There was no chief executive in the company during the six months ended June 30, 2020, with Mr. Guo Yumin acting as the chairman responsible for overall management[89]. Asset and Liability Management - Total non-current assets increased from HK$499,608,000 to HK$512,355,000, reflecting a growth of approximately 2%[114]. - Current assets rose from HK$523,788,000 to HK$471,286,000, indicating a decrease of about 10%[114]. - Total current liabilities increased from HK$190,059,000 to HK$214,111,000, showing a rise of about 12.6%[114]. - Total equity attributable to equity shareholders decreased from HK$765,651,000 to HK$757,068,000, a decline of approximately 1.1%[118]. - The Group's reportable segment assets as of June 30, 2020, were HK$981,731,000, a slight increase from HK$966,427,000 as of December 31, 2019[176]. - The Group's reportable segment liabilities increased to HK$238,795,000 as of June 30, 2020, compared to HK$217,838,000 at the end of 2019, reflecting a rise of 9.6%[176]. Market and Economic Conditions - The company will continue to monitor the COVID-19 pandemic and seek opportunities for business expansion to deliver long-term value appreciation[52]. - The company will continue to monitor the developments of the COVID-19 pandemic and take appropriate measures to maintain employee welfare and business operations[57]. - The Group received government grants totaling HK$216,000 under the Employment Support Scheme to retain employment during the COVID-19 pandemic[183].