Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately HKD 1,068,000,000, a decrease of about 4.1% compared to the previous year[11]. - Profit attributable to the company's owners decreased by approximately 2.9% from HKD 175,400,000 in 2023 to HKD 170,400,000 in 2024, primarily due to a reduction in gross profit[18]. - The gross profit for 2024 was approximately HKD 321,600,000, with a gross profit margin of about 30.1%, down from 31.9% in 2023, reflecting a decline of 1.8%[12]. - The company reported a profit of HKD 170,373,000 for the year ended December 31, 2024, compared to HKD 175,420,000 in 2023, a decrease of approximately 2.4%[191]. - The company reported a total comprehensive income of HKD 164,618,000 for 2024, down from HKD 171,781,000 in 2023[187]. - The company's net asset value increased to HKD 829,677,000 in 2024, up from HKD 725,684,000 in 2023, representing a growth of approximately 14.3%[190]. - The company paid dividends totaling HKD 60,625,000 in 2024, compared to HKD 55,000,000 in 2023, representing an increase of approximately 10.3%[191]. Sales and Revenue Breakdown - Sales of sleepwear products increased by approximately 10.1% to about HKD 726,400,000, while sales of loungewear products decreased by approximately 26.1% to HKD 326,200,000[8]. - Revenue from product sales (sleepwear, loungewear, and grey fabric) for the year ending December 31, 2024, was approximately HKD 1,065,131,000 and HKD 2,699,000 from processing services[172]. - Revenue from customer B increased by approximately 60.6%, and revenue from Europe (UK and Ireland) rose by about 61.0% in 2024[8]. - The sales revenue for the year 2024 was approximately HKD 1,070,000,000, with sales claims amounting to about HKD 285,000[166]. Expenses and Cost Management - Sales and distribution expenses were approximately HKD 52,200,000, a decrease of about 6.2% from HKD 55,700,000 in 2023, with the expense ratio declining from about 5.0% to 4.9%[15]. - Administrative expenses for the year were approximately HKD 69,100,000, a slight increase of about 1.5% from HKD 68,100,000 in 2023, attributed to the expansion of operations[16]. - The group recorded financial expenses for 2024 of approximately HKD 19,200,000, an increase from HKD 18,100,000 in 2023, with a decrease in trade financing interest of about HKD 1,800,000[17]. - The company reported a 10% reduction in operational costs due to improved supply chain management[110]. Investments and Future Plans - The company plans to establish production bases in Africa, Central America, and Vietnam to capitalize on upcoming demand recovery opportunities[9]. - The new garment production facility in Vietnam is expected to have a monthly capacity of approximately 2,000,000 pieces, with initial trial production targeted for the end of 2025[22]. - A new garment production base is planned in Kenya, aimed at increasing production capacity and reducing delivery times to European customers, with initial trial production expected in the second half of 2025[22]. - The group aims to stabilize growth in existing businesses while planning future expansions to capture opportunities as global and domestic demand rebounds[20]. - The company is investing $10 million in research and development for sustainable materials, aiming to reduce production costs by 15%[110]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per the listing rules, with the exception that the roles of Chairman and CEO are held by the same individual, Mr. Tan Guopei[114]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balance between executive and non-executive members[116]. - The company has complied with the standards for securities trading by directors, confirming adherence to the established code[115]. - The board has confirmed the effectiveness of the risk management and internal control systems for the fiscal year ending December 31, 2024, with no significant issues identified[133]. Environmental Sustainability - The group emphasizes environmental sustainability through initiatives like water conservation and recycling[37]. - The company aims to reduce greenhouse gas emissions by 5% in the next reporting period[151]. - The company has implemented measures to monitor and gradually reduce energy consumption and emissions[148]. - The company has reported direct greenhouse gas emissions totaling 22,340.70 tons of CO2 equivalent, with an intensity of 11.02 tons per employee[149]. - The company plans to establish new production facilities in Vietnam and Kenya with environmentally friendly energy solutions[151]. Employee and Labor Relations - The group employed 2,028 staff members as of December 31, 2024, with 100% being full-time employees[157]. - The average employee turnover rate was 6.54% for males and 4.71% for females[159]. - The average training hours per employee were 4.32 hours for males and 2.60 hours for females[163]. - The group actively promotes a fair and harmonious employment environment, ensuring compliance with local labor laws[158]. Risk Management - The company has implemented measures to identify and prioritize significant risks based on their potential financial impact and operational efficiency[133]. - The annual review of risk management and internal control systems includes assessments of significant risks and the company's response capabilities[133]. - The board is responsible for evaluating and determining ESG-related risks and ensuring the establishment of effective ESG risk management systems[143].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 1,067,830, a decrease of 4.2% compared to HKD 1,114,213 in 2023[3] - Gross profit for the year was HKD 321,590, down 9.5% from HKD 355,187 in the previous year[3] - Net profit for the year was HKD 170,373, a decrease of 3.3% from HKD 177,131 in 2023[3] - Basic and diluted earnings per share were HKD 13.63, compared to HKD 14.03 in the previous year, reflecting a decline of 2.9%[4] - Total comprehensive income for the year was HKD 164,618, down 4.1% from HKD 171,781 in 2023[4] Cash and Assets - Cash and cash equivalents increased to HKD 418,507, up 17.8% from HKD 354,981 in 2023[5] - Total assets increased to HKD 843,152, up 14.6% from HKD 735,567 in 2023[5] - The company reported a net asset value of HKD 829,677, an increase of 14.3% from HKD 725,684 in the previous year[5] Revenue Breakdown - Revenue from sleepwear products increased to HKD 726,449,000 in 2024 from HKD 659,620,000 in 2023, representing an increase of 10.1%[11] - Revenue from the United States decreased to HKD 793,227,000 in 2024 from HKD 926,580,000 in 2023, a decrease of 14.4%[14] - Revenue from major customer A decreased to HKD 784,911,000 in 2024 from HKD 922,276,000 in 2023, a decline of 14.9%[15] Expenses and Financials - Sales and distribution expenses for the year ended December 31, 2024, were approximately HKD 52.2 million, a decrease of about 6.2% from HKD 55.7 million in 2023[38] - Administrative expenses for the year ended December 31, 2023, were approximately HKD 69.1 million, a slight increase of about 1.5% from HKD 68.1 million in 2022[39] - Financial expenses for 2024 were approximately HKD 19.2 million, compared to HKD 18.1 million in 2023[40] Dividends - The proposed final dividend per share increased to HKD 0.056 in 2024 from HKD 0.0485 in 2023, representing an increase of 10.3%[26] - The board proposed a final dividend of HKD 0.056 per share, representing a dividend payout ratio of approximately 41.1% of the profit attributable to shareholders[33] Operational Developments - The company continues to focus on the manufacturing and sales of sleepwear and homewear products, with no new segments reported[10] - The company plans to establish production bases in Africa, Central America, and Vietnam to capitalize on upcoming demand recovery opportunities[33] - The company established a representative office in the United States in 2024 to enhance design and pre/post-sales operations, aiming to strengthen customer relationships[31] Market Investments - The group invested in 11 sets of marketable bond instruments with a principal amount ranging from $200,000 to $2,000,000, totaling approximately $6,250,000 as of December 31, 2024, with a market value of about $2,500,000[47] - The group also invested in 9 sets of funds with a principal amount totaling approximately $11,800,000, with a market value of about $11,700,000 as of December 31, 2024[48] Employee and Corporate Governance - The group employed 2,028 staff as of December 31, 2024, an increase from 1,977 staff as of December 31, 2023[56] - The company's capital structure has remained unchanged since its listing on November 28, 2019, consisting of ordinary shares and other reserves[54] - The board of directors confirmed compliance with the non-competition agreement, with no reported competitive business activities during the year[57] Future Outlook - The company aims to stabilize growth in existing businesses while planning future expansions to capture business opportunities as global and domestic demand recovers[43] - The new garment production facility in Vietnam is expected to have a monthly capacity of approximately 2 million pieces, with initial trial production planned before the end of 2025[43] - The company plans to establish a new subsidiary in the United States in 2025 to enhance design and pre/post-sales operations, improving communication with customers[43]

Revenue and Profitability - For the six months ended June 30, 2024, the company's revenue increased by approximately 6.0% to about HKD 385,100,000 compared to the same period in 2023[8] - Revenue for the six months ended June 30, 2024, was HKD 385,093,000, an increase of 5.0% compared to HKD 363,460,000 for the same period in 2023[47] - The profit attributable to the company's owners increased by approximately 6.7% to about HKD 42,900,000 for the six months ended June 30, 2024[15] - Net profit attributable to owners of the company was HKD 42,906,000, a rise from HKD 40,226,000, marking an increase of 6.7%[48] - Total comprehensive income for the period was HKD 37,829,000, compared to HKD 32,216,000 in the previous year, indicating a growth of 17.5%[47] - Profit before tax increased to HKD 53,908,000, compared to HKD 51,811,000 in the previous year, representing a growth of 4.0%[47] Sales Performance - The sales volume of sleepwear and loungewear products rose by approximately 700,000 pieces to about 9,600,000 pieces[8] - Revenue from the United States decreased to HKD 250,169,000 in 2024 from HKD 282,903,000 in 2023, a decline of about 11.6%[60] - Revenue from the United Kingdom increased significantly to HKD 45,817,000 in 2024 from HKD 24,991,000 in 2023, showing a growth of approximately 83.3%[60] - Major customer A contributed HKD 246,654,000 to revenue in 2024, down from HKD 281,577,000 in 2023, a decrease of approximately 12.4%[62] - Major customer B's revenue contribution increased to HKD 123,876,000 in 2024 from HKD 61,918,000 in 2023, representing a growth of about 100%[62] Expenses and Costs - Gross profit for the first half of 2024 was approximately HKD 107,700,000, with an average gross margin of about 28.0%, up from 27.4% in the same period of 2023[9] - Administrative expenses rose by approximately HKD 6,700,000 to about HKD 37,000,000, primarily due to the expansion of operations in Cambodia and Honduras[13] - The company reported a total tax expense of HKD 12,322,000 for the six months ended June 30, 2024, compared to HKD 11,465,000 for the same period in 2023, reflecting an increase of about 7.5%[63] Assets and Liabilities - As of June 30, 2024, the group's current assets amounted to approximately HKD 852.1 million, an increase from HKD 735.6 million as of December 31, 2023, while current liabilities rose to approximately HKD 330.7 million from HKD 195.1 million[19] - Total assets as of June 30, 2024, were HKD 852,068,000, compared to HKD 735,567,000 at the end of 2023, showing an increase of 15.9%[49] - Current liabilities rose to HKD 330,702,000 from HKD 195,083,000, indicating a significant increase of 69.3%[49] - The total trade payables increased significantly to HKD 107,515,000 as of June 30, 2024, from HKD 51,141,000 as of December 31, 2023, reflecting a rise of approximately 109.5%[74] Cash Flow and Investments - The group held cash and bank balances of approximately HKD 349.7 million as of June 30, 2024, compared to HKD 355 million as of December 31, 2023[19] - The company reported a net cash outflow from operating activities of HKD (2,701,000), an improvement from HKD (10,711,000) in the previous year[54] - The company invested approximately HKD 8,800,000 in property, plant, and equipment during the six months ended June 30, 2024, compared to HKD 2,160,000 in the same period of 2023, marking a substantial increase of about 307.4%[71] Corporate Governance and Shareholder Information - Strategic King Holdings Limited holds 67.1% of the company's shares, with 838,076,505 shares owned[30] - The company has adopted a new share option scheme on June 8, 2023, allowing for the issuance of 125,000,000 shares, representing 10% of the issued share capital as of June 30, 2024[32] - The company declared a dividend of approximately HKD 60.6 million on July 3, 2024[27] - No interim dividend has been recommended for the six months ending June 30, 2024, consistent with the previous year[39] - The audit committee has reviewed the unaudited condensed consolidated interim financial statements for the six months ending June 30, 2024[40] - The company has complied with all applicable corporate governance code provisions, except for the separation of the roles of chairman and CEO[37] Operational Developments - The company is constructing a garment production base in Vietnam with an estimated monthly capacity of about 2,000,000 pieces, aimed at increasing production capacity and reducing costs[18] - The company plans to continue expanding its existing business while exploring new opportunities in response to global and domestic demand recovery[17] - The establishment of a representative office in the United States aims to enhance design and pre/post-sales work, improving customer communication and understanding[18] Employee Information - The group employed 1,887 staff as of June 30, 2024, a decrease from 1,977 staff as of December 31, 2023[22] Financial Instruments and Risk Management - The group has established foreign exchange options to hedge against currency risks between RMB and USD as of June 30, 2024[20] - The total principal amount of bond instruments held by the group was approximately USD 6.25 million (equivalent to about HKD 48.8 million) with a market value of approximately USD 2.8 million (equivalent to about HKD 22 million) as of June 30, 2024[20] - The group held a total principal amount of approximately USD 11.8 million (equivalent to about HKD 92 million) in funds, with a market value of approximately USD 11.6 million (equivalent to about HKD 90.1 million) as of June 30, 2024[21] Miscellaneous - The company has no significant contingent liabilities as of June 30, 2024, consistent with the previous year[77] - The company has provided a credit period of 0 to 120 days for its trade receivables, indicating a flexible payment structure for clients[73]

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 385,093,000, an increase of 5.5% compared to HKD 363,460,000 for the same period in 2023[1] - Gross profit for the same period was HKD 107,713,000, up from HKD 99,628,000, reflecting a gross margin improvement[1] - The net profit for the period was HKD 42,906,000, representing a 3.8% increase from HKD 41,348,000 in the previous year[2] - Basic and diluted earnings per share increased to HKD 3.43 from HKD 3.22, marking a growth of 6.5%[2] - Total comprehensive income for the period was HKD 37,829,000, compared to HKD 32,216,000 in the prior year, indicating a 17.5% increase[2] - Revenue for the six months ended June 30, 2024, was HKD 385,093,000, an increase of 5.0% compared to HKD 363,460,000 for the same period in 2023[7] - For the six months ended June 30, 2024, the group's revenue increased by approximately 6.0% to about HKD 385,100,000 compared to the same period in 2023[25] - The net profit attributable to the company's owners increased by approximately 6.7% to about HKD 42,900,000 for the six months ended June 30, 2024[32] Assets and Liabilities - The company's total assets as of June 30, 2024, were HKD 852,068,000, up from HKD 735,567,000 at the end of 2023, reflecting a growth of 15.9%[3] - Current liabilities increased to HKD 330,702,000 from HKD 195,083,000, indicating a significant rise in short-term obligations[3] - The company's net asset value decreased to HKD 702,888,000 from HKD 725,684,000, a decline of 3.1%[3] - Non-current assets as of June 30, 2024, totaled HKD 192,115,000, an increase from HKD 180,500,000 as of December 31, 2023[8] - Trade receivables increased to HKD 139,943,000 as of June 30, 2024, compared to HKD 105,137,000 at the end of 2023[18] - Trade payables rose to HKD 305,362,000 as of June 30, 2024, compared to HKD 173,920,000 at the end of 2023[21] - As of June 30, 2024, the group's current assets amounted to approximately HKD 852.1 million, an increase from HKD 735.6 million as of December 31, 2023, while current liabilities rose to approximately HKD 330.7 million from HKD 195.1 million[35] - The current ratio as of June 30, 2024, was approximately 2.58, down from 3.77 as of December 31, 2023[35] Dividends and Earnings - The company declared an interim dividend of HKD 0.0485 per share, totaling approximately HKD 60,600,000, up from HKD 55,000,000 in the previous year[15] - Basic and diluted earnings per share for the six months ended June 30, 2024, were HKD 0.0343, compared to HKD 0.0322 in 2023[17] Operational Highlights - The sales volume of sleepwear and loungewear products rose by approximately 700,000 pieces to about 9,600,000 pieces[25] - Administrative expenses rose by approximately HKD 6,700,000 to about HKD 37,000,000, primarily due to the expansion of operations including the commencement of mass production in Cambodia[30] - The company recorded other income of approximately HKD 7,500,000, slightly up from HKD 7,400,000 in the same period last year, with bank deposit interest income increasing due to rising interest rates[27] Strategic Initiatives - The company plans to continue expanding its production base in Vietnam, with an estimated monthly capacity of about 2,000,000 pieces, aimed at increasing production capacity and reducing costs[34] - The establishment of a representative office in the United States aims to enhance design and pre/post-sales work, improving communication with customers[34] - The company aims to stabilize growth while planning future expansions to capture business opportunities as global and domestic demand rebounds[34] Governance and Compliance - The group has established an audit committee to oversee the integrity of financial statements and internal control systems[49] - The group has not utilized any interest rate swaps, currency swaps, or other financial derivatives for hedging purposes[35] - The company has established a Compensation Committee to consider the remuneration of all directors and senior management, chaired by independent non-executive director Mr. Lu Haoming[50] - A Nomination Committee has been formed to assist the board in managing the nomination of directors, chaired by executive director Mr. Tan Guopei[51] Employment and Staffing - The group employed 1,887 staff as of June 30, 2024, a decrease from 1,977 staff as of December 31, 2023[44] Reporting and Disclosure - The interim results announcement will be published on the Hong Kong Stock Exchange website and the company's website, with the interim report for the period ending June 30, 2024, to be sent to shareholders in due course[52]

Corporate Governance - The board and senior management team consists of 7 males and 3 females, reflecting a commitment to diversity[1] - The audit committee held two meetings during the fiscal year ending December 31, 2023, to review accounting principles and practices[5] - The remuneration committee held one meeting to review the remuneration policies for all directors and senior management[6] - The nomination committee reviewed the board's structure and composition in 2023, ensuring effective policies for appointments[7] - The board confirmed the effectiveness of the risk management and internal control systems during the fiscal year, with no significant issues identified[16] - The board is responsible for the overall effectiveness of the risk management and internal control systems, with annual reviews conducted[13] - The board has adopted corporate governance functions, including the review and monitoring of compliance with legal and regulatory requirements[23] - The board is responsible for formulating and reviewing the group's business strategies and monitoring management performance[77] - The company has complied with all applicable provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO[101] - The board believes that the balance between executive and non-executive directors is reasonable and provides sufficient checks and balances to protect the interests of shareholders[104] - The company has received annual independence confirmation from all independent non-executive directors, affirming their independence according to listing rules[104] - The board will review the dividend policy periodically, considering various financial and operational factors[158] - The board proposed a final dividend of HKD 0.0485 per share, representing a dividend payout ratio of approximately 34.6% of the profit attributable to shareholders[116] Financial Performance - The group achieved sales revenue of approximately HKD 1,110,000,000 in 2023, with sales claims amounting to about HKD 371,000[2] - Revenue from the sale of sleepwear products, loungewear, and fabric processing services was approximately HKD 1,113,242,000 and HKD 971,000 respectively for the year ended December 31, 2023[83] - Total revenue for the year was approximately HKD 1,114,000,000, representing a decrease of about 8.8% compared to HKD 1,221,000,000 in 2022[118] - The gross profit for the year was approximately HKD 355,200,000, with a gross profit margin of about 31.9%, an increase from 30.6% in 2022[119] - The company recorded a net other loss of approximately HKD 8,700,000 for the year, a significant decrease from HKD 51,900,000 in 2022[120] - Selling and distribution expenses increased by approximately 12.5% to about HKD 55,700,000, compared to HKD 49,500,000 in the previous year[121] - Administrative expenses rose by approximately 21.0% to about HKD 68,100,000, up from HKD 56,300,000 in 2022[122] - The company's profit attributable to owners increased by approximately 1.6% from HKD 172.6 million in 2022 to HKD 175.4 million in 2023[126] Environmental, Social, and Governance (ESG) - The company has committed to enhancing its ESG management system to integrate corporate social responsibility with business strategy[32] - The company is actively conducting carbon emission verification and promoting green development to reduce pollution and environmental risks, in response to China's carbon peak and neutrality goals[58] - The company aims to reduce greenhouse gas emissions by 5% in the next reporting period[47] - The company aims to reduce resource consumption by 5% in the next reporting period[49] - The company has implemented measures to monitor and gradually reduce energy consumption and emissions[44] - The total greenhouse gas (GHG) emissions amounted to 26.87 tons of CO2 equivalent per employee[45] - The total energy consumption for the year was 7,447.75 MWh, with an intensity of 3.77 MWh per employee[48] - The hazardous waste generated was 0.36 tons, while non-hazardous waste amounted to 8.00 tons for the year[53] - The company has set emergency measures for extreme weather events to minimize potential risks to operations[55] - The company has established a risk management manual to clarify responsibilities in risk management for the management, board, and audit committee[19] - The company is committed to sustainable development, incorporating eco-friendly concepts in its production facilities and R&D centers[138] - The group emphasizes environmental sustainability and aims to reduce its environmental impact through resource conservation initiatives[152] Human Resources - All directors participated in ongoing professional training to stay updated on the group's business and governance matters[2] - The average employee turnover rate is 6.23% for males and 6.51% for females, with the highest turnover rate of 7.93% for employees under 30 years old[63] - 98.27% of male employees and 99.43% of female employees received training, with average training hours of 5.21 for males and 2.13 for females[67] - The company reported a total of 1,977 employees, all earning above the local minimum wage requirements[56] - The company employed 1,977 staff across various regions as of December 31, 2023, a slight decrease from 1,988 in the previous year[179] Risk Management - The company has implemented internal control assessments and management measures to address significant risks[19] - The management is responsible for executing ESG risk management and reporting relevant risks and opportunities to the board[37] - The group faces market risks related to currency and interest rate fluctuations, which could impact profitability and operational goals[144][146] - The group operates primarily in China, Hong Kong, and Cambodia, with most transactions conducted in USD and RMB, exposing it to foreign exchange risks[145] - The group maintains a cautious approach due to geopolitical tensions and anticipated interest rate fluctuations affecting global financial markets[142] - The group monitors cash flow and maintains sufficient cash and cash equivalents to mitigate liquidity risk[147] Corporate Transactions - In September 2023, the company acquired the remaining 25% equity of Henan Kaiyu Textile and Garment Co., Ltd. for a total consideration of RMB 31,500,000, aimed at streamlining operations and enhancing vertical integration[115] - The company plans to establish a fabric R&D/production center in Henan, China, with a capacity of 5,000 spindles to enhance product quality and reduce production cycles[128] - The garment production base in Vietnam has received construction permits and is expected to complete its first phase by the second half of 2024, with an estimated capacity of 2 million pieces per shift[128] - The company launched its first proprietary brand, COZ, targeting the local youth market, aiming to build a solid customer base through detailed market research and promotional activities[128] Compliance and Legal Matters - There were no incidents of corruption or related lawsuits involving the group or its employees in 2023[78] - The group has implemented regular anti-corruption training to enhance employee awareness of legal regulations and compliance culture[78] - Related party transactions have been disclosed in the consolidated financial statements, and the company has complied with the relevant regulations under Chapter 14A of the Listing Rules for the year ending December 31, 2023[196] - The company has confirmed that there are no competing businesses held by controlling shareholders as of December 31, 2023[195] - There were no significant post-balance sheet events that could materially affect the company's assets and liabilities or future operations[173] Shareholder Engagement - The company has established various communication channels with shareholders and investors, including annual reports and mid-term reports[24] - The company encourages shareholders to attend annual general meetings for direct communication with the board[24] - The board of directors will see the retirement of two members, who are willing to stand for re-election at the upcoming annual general meeting[187] Financial Position - Cash and bank balances increased to approximately HKD 355 million as of December 31, 2023, from HKD 165.3 million in 2022, with 73.2% in USD[139] - The current ratio improved to approximately 3.77 as of December 31, 2023, compared to 3.63 in 2022[132] - The company has no outstanding bank loans as of December 31, 2023, and maintains a zero debt ratio[140] - The company's distributable reserves as of December 31, 2023, were approximately HKD 172,483,000, an increase from HKD 170,276,000 in 2022[181] - The total amount utilized from the net proceeds of the global offering is approximately HKD 60.8 million, with HKD 48.4 million already used[160] - The net proceeds from the global offering amounted to approximately HKD 60,800,000 after deducting all related listing expenses and commissions[165] - The expected timeline for the use of unutilized proceeds is subject to change based on market conditions, as the utilization has been delayed due to COVID-19 restrictions[165] - As of December 31, 2023, the company had no significant capital commitments for the acquisition of non-current assets[170] Share Option Scheme - The new share option scheme adopted on June 8, 2023, is valid for a period of ten years and aims to incentivize employees and directors for their contributions to the company[197] - Eligible participants for the share option scheme include employees and directors from the company and its subsidiaries, as well as service providers contributing to the company's long-term growth[198] - The board of directors will determine the eligibility of participants based on their contributions to the company's development and growth[200]

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,114,213,000, a decrease of 8.7% from HKD 1,220,760,000 in 2022[8] - Gross profit for 2023 was HKD 355,187,000, down from HKD 373,267,000 in 2022, reflecting a gross margin of 31.9% compared to 30.6% in the previous year[8] - Net profit for the year was HKD 177,131,000, slightly up from HKD 175,897,000 in 2022, resulting in basic and diluted earnings per share of HKD 14.03, compared to HKD 13.80 in the prior year[9] - Total comprehensive income for the year was HKD 171,781,000, an increase from HKD 163,902,000 in 2022[9] - Revenue from sleepwear products was HKD 659,620, down from HKD 914,262 in the previous year, representing a decline of 28%[24] - In 2023, revenue from the United States was HKD 926.6 million, a decrease from HKD 1,008.7 million in 2022, while total revenue was HKD 1,114.2 million compared to HKD 1,220.8 million in 2022[63] - The sales volume of sleepwear and loungewear products was approximately 25,900,000 units, down from approximately 26,600,000 units in 2022, reflecting a decrease of about 2.6%[72] - The average selling price of sleepwear and loungewear products decreased by approximately 6.6% compared to 2022 due to changes in the product mix[74] Assets and Liabilities - Non-current assets as of December 31, 2023, totaled HKD 204,846,000, compared to HKD 188,258,000 in 2022, indicating a growth of 8.8%[2] - Current liabilities increased to HKD 735,567,000 in 2023 from HKD 634,590,000 in 2022, representing a rise of 15.9%[2] - Total assets less current liabilities amounted to HKD 745,330,000, up from HKD 648,208,000 in 2022, reflecting a growth of 15%[2] - The company's equity attributable to owners increased to HKD 725,684,000 in 2023 from HKD 642,786,000 in 2022, marking a rise of 12.9%[2] - Trade receivables aged 0 to 30 days amounted to HKD 21,401, while total trade and other payables were HKD 173,920 as of 2023[48] - As of December 31, 2023, the group's current assets were approximately HKD 735.6 million, an increase from HKD 634.6 million as of December 31, 2022, while current liabilities were approximately HKD 195.1 million, up from HKD 174.6 million[82] Investments and Acquisitions - The company acquired the remaining 25% stake in Henan Kaiyu Textile and Garment Co., Ltd. for RMB 31,500,000 to streamline operations and enhance vertical integration[50] - The company invested in 12 sets of marketable bond instruments with principal amounts ranging from USD 200,000 to USD 2,000,000, totaling approximately USD 6.25 million as of December 31, 2023[82] - The group also invested in 9 sets of funds with a total principal of approximately HKD 92 million, with a market value of approximately HKD 88.9 million as of December 31, 2023[82] - There were no significant acquisitions or disposals during the year ended December 31, 2023, apart from the aforementioned acquisition[98] Dividends and Shareholder Returns - The proposed final dividend per share for 2023 is HKD 0.0485, an increase from HKD 0.044 in 2022[46] - The company proposed a final dividend of HKD 0.0485 per share, representing a dividend payout ratio of approximately 34.6% of the profit attributable to shareholders[73] Operational Strategies - The company plans to continue expanding its product offerings and market presence in the coming year, focusing on pajamas and homewear products[15] - The company plans to explore domestic sales opportunities through OEM and/or its own brand in the local market[50] - The group aims to establish a subsidiary in the United States in 2024 to enhance design and pre/post-sales services, thereby strengthening customer relationships[59] - The company is establishing production bases in Central America and Vietnam to capitalize on the anticipated demand recovery[73] - The establishment of a production base in Honduras marks a significant milestone, allowing for reduced delivery times to American customers and diversification of political risks[81] - The company is focusing on cost control strategies and expanding vertical integration benefits to maintain operational efficiency[72] - The company launched its first in-house brand, COZ, to enhance its sales and distribution capabilities[76] - The company launched its first proprietary brand, COZ, targeting the local youth market, and is conducting detailed market research and promotional activities[123] Financial Management - Financial expenses for 2023 amounted to approximately HKD 18.1 million, up from HKD 11.8 million in 2022, primarily impacted by rising global interest rates[55] - The group recorded a net other loss of approximately HKD 8.7 million in 2023, a significant decrease from HKD 51.9 million in 2022, mainly due to reduced foreign exchange options contracts[53] - The group recorded a net loss of approximately HKD 8.7 million from other income and losses in 2023, a significant improvement from a loss of HKD 51.9 million in 2022[64] - The group maintains a conservative treasury policy, primarily holding bank deposits in HKD or USD to mitigate foreign exchange risks[82] - The group has not entered into any foreign exchange forward contracts to hedge against currency risks as of December 31, 2023, but will consider various financial instruments to manage foreign exchange risks[82] Employee and Operational Metrics - The company employed 1,977 staff as of December 31, 2023, compared to 1,969 staff as of December 31, 2022[101] - Administrative expenses for the year ended December 31, 2023, were approximately HKD 68.1 million, a 21.0% increase from approximately HKD 56.3 million in 2022, primarily due to expanded operations including the commencement of mass production in Honduras and investment in Vietnam[92] Future Outlook - The group plans to establish a research and production center in Henan, China, with a capacity of 5,000 axes of fabric, aimed at improving quality and reducing production cycles[58] - The garment production base in Vietnam has obtained a construction permit and is expected to complete the first phase of construction by the second half of 2024, with an estimated production capacity of approximately 2,000,000 pieces per single shift[96] - The company continues to focus on diversifying production bases, vertical integration, and customer satisfaction to control costs and ensure product quality amid global uncertainties[121] Miscellaneous - The tax rate for the Chinese subsidiaries is 25% as per the Corporate Income Tax Law[30] - The company confirmed revenue recognition for products upon transfer of control, typically within 0 to 120 days post-delivery[37] - The annual general meeting of shareholders is scheduled for June 7, 2024[108] - The group has no significant contingent liabilities as of December 31, 2023[83] - The group had no outstanding bank loans as of December 31, 2023, and maintained a debt ratio of zero, calculated as bank borrowings to shareholders' equity[82] - The company has not experienced any post-balance sheet events that would significantly impact its assets, liabilities, or future operations[100] - The company provides a credit period of 0 to 120 days for its trade receivables[112]

Financial Performance - The group's revenue for the six months ended June 30, 2023, was approximately HKD 363,500,000, a decrease of about 23.7% compared to the same period in 2022[145]. - Revenue for the six months ended June 30, 2023, was HKD 363,460,000, a decrease of 23.7% compared to HKD 476,405,000 for the same period in 2022[181]. - Revenue from the United States decreased by 30.7% to HKD 282,903,000 from HKD 408,582,000 year-over-year[182]. - The company’s revenue from processing services was HKD 565,000, down from HKD 2,618,000 in the previous year[181]. - The company’s revenue from the UK increased by 20.9% to HKD 24,991,000 from HKD 20,826,000 year-over-year[182]. - For the six months ended June 30, 2023, the company recorded a profit attributable to owners of approximately HKD 40,226,000, an increase of about 17.5% from HKD 34,194,000 for the same period in 2022[122]. - The group recorded a profit attributable to owners of the company of HKD 40,226,000 for the six months ended June 30, 2023, compared to HKD 34,194,000 in the previous year, representing an increase of approximately 17.8%[173]. - Basic and diluted earnings per share for the period were HKD 3.22, up from HKD 2.74 in the previous year, reflecting a growth of approximately 17.5%[173]. - The group achieved a gross margin of approximately 27.4%, an increase of about 1.8 percentage points compared to the same period in 2022, due to proactive business strategies such as diversifying production bases and product mix[111]. - The gross profit for the six months ended June 30, 2023, was approximately HKD 99,600,000, with an average gross margin of about 27.4%, compared to a gross profit of approximately HKD 122,100,000 and a gross margin of 25.6% in the same period of 2022[145]. Cash Flow and Liquidity - The group's cash and bank balances as of June 30, 2023, were approximately HKD 184.4 million, an increase from HKD 165.3 million as of December 31, 2022[18]. - The group's cash flow statement indicates a net cash outflow during the reporting period, reflecting challenges in liquidity management[66]. - The net cash outflow from operating activities was HKD (10,711,000) compared to a net inflow of HKD 116,703,000 in the previous year[195]. - The company reported a net cash inflow from investing activities of HKD 39,871,000, a significant improvement from a net outflow of HKD (34,470,000) in the prior period[195]. - The company reported a cash and cash equivalents balance of HKD 165,297,000 as of January 1, 2023, with a net increase of HKD 22,355,000 during the period[195]. Assets and Liabilities - As of June 30, 2023, the total non-current assets amounted to HKD 180,500,000, a decrease of 3.1% from HKD 186,629,000 as of December 31, 2022[45]. - Total liabilities increased to HKD 219,010,000 as of June 30, 2023, up from HKD 151,182,000 as of December 31, 2022, indicating a significant rise in financial obligations[84]. - Trade payables and other payables increased to HKD 219,010,000 as of June 30, 2023, compared to HKD 151,182,000 at the end of the previous year, indicating a rise in operational liabilities[174]. - The group's current assets were approximately HKD 736,500,000, while current liabilities were approximately HKD 240,000,000, resulting in a current ratio of approximately 3.07[126]. - The company’s deferred tax assets amounted to HKD 11,465,000, showing a recovery from a deferred tax liability of HKD 1,002,000 in the previous period[47]. Operational Developments - The group has leased approximately 30,000 square meters of land in Thua Thien-Hue Province, Vietnam, for 43 years, with plans to build its first production facility in Vietnam to increase production capacity[4]. - The group anticipates that the new developments in Vietnam will help meet the demands of existing and new customers while reducing costs and improving quality[4]. - The group is currently conducting trial production at its manufacturing facility in Honduras, with commercial operations expected to begin in the second half of 2023[124]. - The group is exploring opportunities to expand its production capacity for existing products at its China base and is considering establishing new product category production lines[125]. - The group is implementing a vertical integration strategy in Central America to ensure quality control and stable supply, which will reduce delivery costs and times[124]. Shareholder Returns - The group did not recommend the distribution of any interim dividend for the six months ended June 30, 2023, consistent with the same period in 2022[17]. - The company declared an interim dividend of HKD 0.044 per share, totaling approximately HKD 55,000,000, compared to HKD 0.059 per share and HKD 73,800,000 in the previous year[79]. - The company did not declare or pay any interim dividends for the six months ended June 30, 2023, consistent with the previous year[95]. Expenses and Cost Management - Financial expenses for the first half of 2023 amounted to approximately HKD 5,000,000, compared to HKD 3,500,000 in the previous year, driven by rising interest rates affecting trade financing[121]. - Sales and distribution expenses for the six months ended June 30, 2023, were approximately HKD 19,800,000, a decrease of about HKD 2,000,000 compared to the same period last year[148]. - Administrative expenses for the same period were approximately HKD 30,300,000, down by about HKD 1,200,000 year-on-year, attributed to reduced shipping costs and proactive resource allocation[148]. Workforce Management - As of June 30, 2023, the group employed 1,813 staff, a decrease from 1,988 staff as of December 31, 2022, indicating a strategic adjustment in workforce management[156]. Corporate Governance - The company continues to comply with the corporate governance code, with minor deviations noted in the interim report[58]. - The company has established a remuneration committee to consider the compensation of all directors and senior management[198]. Risk Management - The group has established a foreign exchange option to hedge against currency risk between RMB and USD, reflecting a proactive approach to financial risk management[154]. - The group has no significant contingent liabilities as of June 30, 2023[129]. Future Outlook - The group aims to maintain stable growth in its existing business while preparing to expand operations to seize future business opportunities as global and domestic demand recovers[3]. - The group plans to expand its business in existing and new markets by leveraging its market analysis and technical expertise, aiming for substantial returns for stakeholders[153]. - No significant events have occurred after June 30, 2023, that would materially affect the group's future operations[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之內容概不負責，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分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 JUSTIN ALLEN HOLDINGS LIMITED 捷 隆 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號: 01425) 二零二三年中期業績公佈 捷隆控股有限公司(｢本公司｣)董事(｢董事｣)會(｢董事會｣)欣然公佈本公司及其附屬公司(統稱｢本集 團｣)截至二零二三年六月三十日止六個月之未經審核簡明綜合中期業績，連同過往期間之比較數 字一併列示。 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 附註 港幣千元 港幣千元 (未經審核) (未經審核) 收益 3 363,460 476,405 銷售成本 (263,832) (354,325) 毛利 99,628 122,080 其他收入 7,379 5,462 其他收益及虧損淨額 (73) (23,766) 銷售及分銷開支 (19,797) (21,804) 行政開 ...

Employee and Workforce - The group had a total of 1,988 employees as of December 31, 2022, all earning above the minimum wage requirements in their respective regions[1] - Over 90% of employees are full-time, with competitive compensation packages and additional paid leave offered to attract and retain talent[3] - The group aims to create a fair and harmonious employment environment to support sustainable development[1] - The company is committed to employee development and offers various benefits, including medical insurance and retirement plans[148] - The group employed 1,988 staff as of December 31, 2022, an increase from 1,847 staff as of December 31, 2021, reflecting a growth of approximately 7.6%[151] Financial Performance - The group reported sales revenue of HKD 1,220,000,000 for the year, with sales claims amounting to approximately HKD 2,480,000 due to product quality issues[7] - Revenue from the sale of products, including sleepwear and home casual wear, was approximately HKD 1,215,556,000 and HKD 5,204,000 respectively for the year[16] - The company's profit attributable to shareholders was approximately HKD 172,500,000, an increase of about 9.0% year-on-year[46] - The gross profit for 2022 was approximately HKD 373,300,000, with a gross profit margin of about 30.6%, compared to HKD 310,500,000 and a margin of 26.3% in 2021[51] - For the year ended December 31, 2022, the group's revenue was approximately HKD 1,220,800,000, an increase of about 3.3% compared to the previous year[74] - The group recorded a net profit attributable to shareholders of approximately HKD 172,600,000 for the year ended December 31, 2022, representing a 9.0% increase from HKD 158,300,000 in the previous year[79] - The group reported a net loss of approximately HKD 51,900,000 for the year ended December 31, 2022, compared to a net loss of approximately HKD 3,000,000 for the year ended December 31, 2021, primarily due to realized and unrealized losses related to foreign exchange options[77] Dividends and Shareholder Returns - The board proposed a final dividend of HKD 0.044 per share, representing a dividend payout ratio of approximately 31.9% of the profit attributable to shareholders[50] - The group declared a final dividend of HKD 0.044 per share, totaling approximately HKD 55,000,000 for the year ended December 31, 2022, compared to HKD 0.059 per share the previous year[97] Production and Operations - The company has production facilities in China, Cambodia, and Honduras, and is also utilizing long-term cooperative factories in Vietnam[39] - The group established a production facility in Honduras, which is currently in trial operation and expected to commence formal operations in Q2 2023[57] - The group plans to construct its first production facility in Vietnam, having secured a 43-year land lease for approximately 30,000 square meters at a cost of USD 1.15 million, which is expected to significantly increase production capacity[81] - The company is actively reserving resources to further establish production bases in Central America and Vietnam to capitalize on potential demand recovery opportunities[50] - The company’s proactive strategies, such as diversifying production bases and product mix, helped mitigate market pressures and challenges in the post-pandemic environment[46] Financial Position and Investments - The current ratio as of December 31, 2022, was approximately 3.63, compared to 2.49 as of December 31, 2021[60] - The group has no outstanding bank loans as of December 31, 2022, compared to approximately HKD 35,500,000 in loans as of December 31, 2021[61] - The group has a debt ratio, calculated as bank borrowings as a percentage of shareholders' equity, was zero as of December 31, 2022, down from approximately 6.8% the previous year[84] - The group invested in 12 marketable bond instruments with a total principal of approximately USD 6,750,000, aiming for stable returns from short-term idle bank deposits[63] - The group invested in 12 funds with a total principal amount of approximately USD 11,300,000 (equivalent to about HKD 88,100,000), with a market value of approximately USD 10,600,000 (equivalent to about HKD 82,300,000)[107] Corporate Governance and Compliance - The board of directors is responsible for formulating and reviewing the business strategies and policies of the group[182] - The company has maintained compliance with corporate governance practices as outlined in its governance report[194] - The company has not reported any significant violations of laws and regulations that would materially affect its business and operations during the fiscal year[147] - The board confirmed that all major shareholders complied with non-competition agreements during the fiscal year ending December 31, 2022[135] Social Responsibility and Community Engagement - The group donated approximately HKD 423,000 to charitable organizations focused on helping children during the year[5] - The group is committed to social responsibility and community development, planning to continue these efforts in the future[5] Market and Economic Outlook - The group anticipates that the economic slowdown will persist for some time, but it also presents opportunities for business expansion to meet future demand recovery[80] Management and Leadership - The company has a strong management team with extensive experience in various sectors, including finance and technology[178][179] - The board of directors includes executive directors and independent non-executive directors, with specific terms of appointment and renewal[156] - Ms. Yang has over 30 years of experience in the apparel industry and currently serves as the General Manager responsible for sales and marketing operations[199] - The company appointed Guowei CPA Limited to fill the vacancy left by Deloitte Touche Tohmatsu[195]

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之內容概不負責，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分內容而產生或因倚賴該等內容而引致的任何損失承擔 任何責任。 JUSTIN ALLEN HOLDINGS LIMITED 捷 隆 控 股 有 限 公 司 (於開曼群島註冊成立的有限公司) (股份代號: 01425) 截至二零二二年十二月三十一日止年度之 全年業績公佈 捷隆控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及其附屬公司(統 稱｢本集團」）截至二零二二年十二月三十一日止年度之經審核綜合全年業績連同截至二零二一年 十二月三十一日止年度之比較數字如下: 綜合損益及其他全面收益表 二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 港幣千元 港幣千元 收益 3 1,220,760 1,181,603 銷售成本 (847,493) (871,139) 毛利 373,267 310,464 其他收入 4 15,909 11,924 其他收益及虧損淨額 5 (51,859) (3,016) 銷售及分銷開支 (49,468) (54,4 ...