香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CIRTEK HOLDINGS LIMITED 常達控股有限公司 （於開曼群島註冊成立之有限公司） 截 至2025年6月30日止六個月 截 至6月30日止六個月 | | | | | | | | | 2025年 | 2024年 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | （未經審核） | （未經審核） | | | | | | | | | | 附 註 | 千港元 | 千港元 | | | 收 益 | | | | | | | 4 | 258,178 | 264,519 | | | 銷售成本 | | | | | | | | (136,567) | (140,345) | | | 毛 利 | | | | | | | | 121,611 | 124,174 | | | 其他收入及收益 ...

謹此提述常達控股有限公司（「本公司」）於2025年3月31日刊發截至2024年12月31日止年 度之年度報告（「2024年年報」）。除另有界定者外，本公告所用詞彙具2024年年報所界定 的相同涵義。 誠如2024年年報所示，截至2024年12月31日止年度，本公司於聯交所以總代價416,400港 元（未扣開支）購回合共10,410,000股股份（「股份購回」），所有購回股份隨後均作為庫存 股份保存。本公司謹此補充，本公司擬不時根據市況及本集團的資本管理需要，決定是 否及何時註銷或以市價出售該等購回的庫存股份，或遵照上市規則、本公司組織章程大 綱及細則以及開曼群島的適用法律，出售該等庫存股份作其他用途。 上述資料並不影響2024年年報所披露的資料，除本公告所披露者外，2024年年報的所有 其他資料維持不變。 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，並明確表示概不會就本公告全部或任何部份內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CIRTEK HOLDINGS LIMITED 常達控股有限公司 （於開曼群島註冊成立之有限公司） ...

Group 1 - The company, Changda Holdings (01433.HK), announced a board meeting scheduled for August 28, 2025, to consider and approve the unaudited consolidated interim results for the six months ending June 30, 2025, along with other matters [1]

承董事會命 常達控股有限公司 主席兼執行董事 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，並明確表示概不會就本公告全部或任何部份內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CIRTEK HOLDINGS LIMITED 常達控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1433） 董事會召開日期 常達控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董事會」）謹此 宣佈，本公司謹訂於二零二五年八月二十八日（星期四）舉行董事會會議，藉以考慮及批 准（其中包括）本集團截至二零二五年六月三十日止六個月之未經審核綜合中期業績，以 及處理其他事項。 陳醒明 香港，二零二五年八月十五日 於本公告日期，董事會包括本公司執行董事陳醒明先生、羅妙蘭女士及陳梓峰先生；及 本公司獨立非執行董事林楚祺先生、李德昌先生及陸美恩女士。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | 2025年7月31日 | 狀態: 新提交 | | --- | --- | --- | | 截至月份: | | | 本月底法定/註冊股本總額： HKD 50,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 致：香港交易及結算所有限公司 公司名稱: 常達控股有限公司 呈交日期: 2025年8月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01433 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.01 | HKD | | 50,000,000 | ...

Financial Performance - Total revenue increased by 48% year-on-year to HK$551.1 million in 2024[12] - Profit before tax and impairment of non-financial assets was HK$74.7 million, compared to a loss of HK$11.6 million in 2023[9] - Gross profit margin improved to 49.1% year-on-year, reflecting effective cost control measures[13] - Profit attributable to owners of the Company was approximately HK$61,859,000 in 2024, compared to a loss of approximately HK$25,676,000 in 2023[29] - Gross profit for FY2024 was approximately HK$270.6 million, with a gross profit margin of 49.1%, compared to a gross profit of approximately HK$162.6 million and a margin of 43.7% in FY2023[45] - The Group recorded an operating profit of approximately HK$61.9 million for FY2024, a turnaround from an operating loss of approximately HK$25.7 million in FY2023[61] - The Group's revenue increased by approximately HK$178.8 million or 48.0%, from approximately HK$372.3 million for FY2023 to approximately HK$551.1 million for FY2024[47] Assets and Liabilities - Total assets as of December 31, 2024, were HK$452.4 million, up from HK$369.4 million in 2023[9] - Total liabilities increased to HK$206.5 million in 2024, compared to HK$174.4 million in 2023[9] - Equity attributable to owners of the Company rose to HK$245.9 million from HK$195.0 million in 2023[9] - Cash and cash equivalents increased by 49.5%, from approximately HK$48.7 million as of December 31, 2023, to approximately HK$72.8 million as of December 31, 2024[64] - Interest-bearing bank borrowings decreased by 73.2%, from approximately HK$23.1 million as of December 31, 2023, to approximately HK$6.2 million as of December 31, 2024[65] - The current ratio improved to approximately 1.6 times as of December 31, 2024, compared to approximately 1.2 times as of December 31, 2023[68] - The gearing ratio increased to approximately 27.5% as of December 31, 2024, from approximately 24.7% as of December 31, 2023[69] Market and Economic Environment - The global economic environment remains challenging, with uneven recovery across major markets impacting consumer confidence[11] - The global apparel market is expected to grow from US$708.8 billion in 2024 to US$766.6 billion in 2025, representing a growth rate of 8.2%[18] - Global economic growth is forecasted to remain at 2.8% in 2025, the same as in 2024, indicating a slow recovery[20] - The United Nations forecasts global economic growth of 2.8% in 2025, with challenges such as geopolitical conflicts and high debt levels expected to create market uncertainty[38] Operational Developments - The Group's production bases are located in five major garment exporting countries, enhancing its market responsiveness[12] - Primway S.A.R.L, acquired in 2023, has begun to realize synergies and boost the Group's European business in 2024[16] - The Group operates in over 40 markets worldwide, consolidating its sales network and partnerships[16] - The Group's production bases in major garment exporting countries have seen a steady increase in order volumes[29] - The Group aims to enhance production efficiency through increased investment in automation equipment[29] - The proportion of revenue from RFID products has significantly increased, reflecting the growing application of RFID technology in the retail sector[34] - The Group plans to expand the market for RFID products and enhance competitiveness by incorporating sustainability into its operations and sourcing environmentally friendly materials[42] Corporate Governance - The company is committed to maintaining high standards of corporate governance and has complied with all provisions of the Corporate Governance Code during the reporting period[103] - The Board is responsible for formulating the Group's strategy and overseeing management, ensuring sound internal control and risk management systems are in place[114] - The Company promotes a culture of openness and encourages Directors to voice differing views during meetings[115] - The Company emphasizes the importance of internal control and risk management to safeguard assets and shareholder interests[130] - The Company has adopted the Model Code for Securities Transactions by Directors, ensuring compliance during the Reporting Period[129] Employee and Workforce - The Group's employee benefit expense for FY2024 was approximately HK$171.0 million, an increase from approximately HK$153.7 million in FY2023, reflecting a growth of about 11.5%[79] - As of FY2024, the total number of employees increased to 1,424, up from 1,219 in FY2023, representing a growth of approximately 16.8%[78] - As of the date of the annual report, the workforce gender ratio is 54.6% male (778 employees) and 45.4% female (646 employees)[181] - The company emphasizes the importance of gender diversity across all levels and plans to improve this balance in the future[182] Shareholder Communication - The company recognizes the importance of communication with shareholders and has adopted a Shareholders Communication Policy[186] - The AGM provides an opportunity for shareholders to communicate with the Board, with key members present to address questions[187] - Votes at general meetings are conducted by poll, with detailed procedures explained to shareholders[188] - Shareholders holding at least one-tenth of the paid-up capital can requisition an extraordinary general meeting (EGM)[191] Future Outlook - The Group's capital expenditure will be reduced in 2025 following the peak investment period[23] - The integration of Primway S.A.R.L. is expected to provide new momentum for the Group's European business in 2025[19] - The Group aims to strengthen its business resilience and explore new opportunities while consolidating existing markets[43]

[Consolidated Financial Statements](index=1&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's financial performance and position, highlighting significant revenue growth, a return to profitability, and improved liquidity in FY2024 [Consolidated Statement of Profit or Loss](index=1&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss) The company achieved significant revenue and gross profit growth in FY2024, turning a prior-year loss into an annual profit of HK$61.86 million Key Profit or Loss Data for FY2024 | Metric | 2024 (HK$'000) | 2023 (HK$'000) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 551,049 | 372,310 | +48.0% | | Gross Profit | 270,619 | 162,553 | +66.5% | | Profit/(Loss) Before Tax | 74,747 | (19,650) | Turned Profitable | | Profit/(Loss) for the Year | 61,859 | (25,676) | Turned Profitable | | Basic Earnings/(Loss) Per Share | 3.10 HK cents | (1.28) HK cents | Turned Profitable | [Consolidated Statement of Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) Despite exchange losses from overseas operations, the company reported a total comprehensive income of HK$51.32 million in FY2024, a significant improvement from the prior year's loss Overview of Comprehensive Income for FY2024 | Metric | 2024 (HK$'000) | 2023 (HK$'000) | | :--- | :--- | :--- | | Profit/(Loss) for the Year | 61,859 | (25,676) | | Net Exchange Differences from Translating Overseas Operations | (10,541) | (14,560) | | **Total Comprehensive Income/(Loss) for the Year** | **51,318** | **(40,236)** | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of end-2024, total assets and net assets increased, with a significant improvement in net current assets and a substantial reduction in interest-bearing bank borrowings Key Balance Sheet Data as of End-2024 | Metric | 2024 (HK$'000) | 2023 (HK$'000) | YoY Change | | :--- | :--- | :--- | :--- | | Total Non-current Assets | 211,864 | 187,668 | +12.9% | | Total Current Assets | 240,566 | 181,757 | +32.4% | | **Total Assets** | **452,430** | **369,425** | **+22.5%** | | Total Current Liabilities | 152,500 | 153,159 | -0.4% | | Total Non-current Liabilities | 53,996 | 21,234 | +154.3% | | **Net Assets** | **245,934** | **195,032** | **+26.1%** | | Cash and Cash Equivalents | 68,519 | 34,158 | +100.6% | | Interest-bearing Bank Borrowings (Current+Non-current) | 6,246 | 23,115 | -73.0% | [Notes to the Financial Statements](index=5&type=section&id=Notes%20to%20the%20Financial%20Statements) This section provides detailed explanations of the company's accounting policies, segment information, revenue breakdown, and specific financial statement line items [1. Company and Group Information](index=5&type=section&id=1.%20Company%20and%20Group%20Information) The company, an investment holding entity incorporated in the Cayman Islands, primarily produces and sells printed products and was listed on the HKEX Main Board in March 2020 - The Group is principally engaged in the production and sale of printed products[8](index=8&type=chunk) - The Company's shares were listed on the Main Board of The Stock Exchange of Hong Kong on March 12, 2020[9](index=9&type=chunk) [2. Accounting Policies](index=5&type=section&id=2.%20Accounting%20Policies) The financial statements are prepared under HKFRSs using historical cost, with new standards adopted this year having no material impact on the Group's financial position or performance - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (HKFRSs) and the disclosure requirements of the Hong Kong Companies Ordinance[10](index=10&type=chunk) - The Group has adopted the revised HKFRS 16, HKAS 1, and HKAS 7 for the first time in the current year, and after evaluation, these revisions had no impact on the Group's financial position or performance[14](index=14&type=chunk)[15](index=15&type=chunk) [3. Operating Segment Information](index=8&type=section&id=3.%20Operating%20Segment%20Information) The Group operates a single reportable segment of printed product manufacturing and sales, with Mainland China being the largest revenue contributor and concentration of non-current assets - The Group has only one reportable operating segment, which is the production and sale of printed products[16](index=16&type=chunk) Revenue from External Customers by Geographical Region | Region | 2024 (HK$'000) | 2023 (HK$'000) | % of Total (2024) | | :--- | :--- | :--- | :--- | | Mainland China | 177,701 | 128,401 | 32.2% | | Hong Kong | 64,582 | 54,721 | 11.7% | | Bangladesh | 99,024 | 50,696 | 18.0% | | India | 34,072 | 17,992 | 6.2% | | Vietnam | 47,484 | 30,010 | 8.6% | | Other Countries/Regions | 128,186 | 90,490 | 23.3% | | **Total Revenue** | **551,049** | **372,310** | **100%** | [4. Revenue, Other Income and Gains](index=9&type=section&id=4.%20Revenue,%20Other%20Income%20and%20Gains) In FY2024, all HK$551 million in revenue stemmed from printed product sales, supplemented by HK$5.7 million in other income from various sources - All revenue from contracts with customers is derived from the sale of printed products, recognized at a point in time, totaling **HK$551,049 thousand**[19](index=19&type=chunk) Details of Other Income and Gains | Item | 2024 (HK$'000) | 2023 (HK$'000) | | :--- | :--- | :--- | | Freight and Transportation Income | 391 | 1,212 | | Interest Income | 442 | 652 | | Sale of Scrap Materials | 1,504 | 1,567 | | Government Grants | 623 | 592 | | Others | 2,738 | 2,038 | | **Total** | **5,698** | **6,061** | [5. Profit/(Loss) Before Tax](index=11&type=section&id=5.%20Profit%2F%28Loss%29%20Before%20Tax) FY2024 profit before tax was primarily impacted by cost of sales, employee benefits, and depreciation, with no significant non-financial asset impairment unlike the prior year Key Deductions for Profit Before Tax | Item | 2024 (HK$'000) | 2023 (HK$'000) | | :--- | :--- | :--- | | Cost of Sales | 280,430 | 209,757 | | Employee Benefit Expenses | 170,969 | 153,655 | | Depreciation of Property, Plant and Equipment | 20,280 | 17,693 | | Depreciation of Right-of-Use Assets | 13,452 | 12,832 | | Impairment of Non-financial Assets | – | 8,065 | [6. Finance Costs](index=12&type=section&id=6.%20Finance%20Costs) Finance costs decreased by 25.3% to HK$2.36 million in FY2024, mainly due to lower interest on bank loans and overdrafts Details of Finance Costs | Item | 2024 (HK$'000) | 2023 (HK$'000) | | :--- | :--- | :--- | | Interest on Bank Loans and Overdrafts | 621 | 1,346 | | Interest on Lease Liabilities | 1,743 | 1,818 | | **Total** | **2,364** | **3,164** | [7. Income Tax](index=12&type=section&id=7.%20Income%20Tax) Income tax expense significantly increased to HK$12.89 million in FY2024, driven by improved operating performance and higher taxable profits - Total tax expense for the year was **HK$12,888 thousand**, an increase of **113.9%** from **HK$6,026 thousand** in 2023[25](index=25&type=chunk) [8. Dividends](index=13&type=section&id=8.%20Dividends) The Board proposed a final dividend of 0.75 HK cents per share for FY2024, totaling HK$15 million, pending shareholder approval, with no dividend paid in 2023 - The Board recommended a final dividend of **0.75 HK cents** per ordinary share, totaling **HK$15 million**, with no dividend paid in 2023[26](index=26&type=chunk) [9. Earnings/(Loss) Per Share](index=13&type=section&id=9.%20Earnings%2F%28Loss%29%20Per%20Share) Basic earnings per share for FY2024 were 3.10 HK cents, a turnaround from the prior year's loss, with diluted EPS matching basic EPS - Basic earnings per share for 2024 were **3.10 HK cents**, compared to a basic loss per share of **1.28 HK cents** in 2023[27](index=27&type=chunk) [10. Trade Receivables](index=13&type=section&id=10.%20Trade%20Receivables) Trade receivables increased by 28.2% to HK$57.56 million by end-2024, with credit terms of 30-90 days and a notable increase in impairment provisions - The net book value of trade receivables increased from **HK$44,910 thousand** in 2023 to **HK$57,560 thousand** in 2024. Credit terms generally range from **30 to 90 days**[28](index=28&type=chunk) Ageing Analysis of Trade Receivables (Net of Loss Allowance) | Ageing | 2024 (HK$'000) | 2023 (HK$'000) | | :--- | :--- | :--- | | Within 1 month | 32,204 | 24,438 | | 1 to 2 months | 14,381 | 12,751 | | 2 to 3 months | 6,629 | 3,911 | | Over 3 months | 4,348 | 3,812 | | **Total** | **57,562** | **44,912** | [11. Trade Payables](index=14&type=section&id=11.%20Trade%20Payables) Trade payables increased by 12.1% to HK$64.23 million by end-2024, with most balances due within three months and settlement periods of 30-150 days Ageing Analysis of Trade Payables | Ageing | 2024 (HK$'000) | 2023 (HK$'000) | | :--- | :--- | :--- | | Within 1 month | 26,093 | 16,593 | | 1 to 2 months | 17,992 | 12,272 | | 2 to 3 months | 10,317 | 10,389 | | Over 3 months | 9,831 | 18,069 | | **Total** | **64,233** | **57,323** | [Management Discussion and Analysis](index=15&type=section&id=Management%20Discussion%20and%20Analysis) This section provides management's perspective on the Group's operational and financial performance, future outlook, and capital management strategies for the reporting period [Business Review](index=15&type=section&id=Business%20Review) In 2024, the Group achieved 48.0% revenue growth and profitability through global expansion, operational efficiencies, and new growth from RFID and ESG products - Leveraging its global presence, the Group's full-year revenue increased by **48.0%** year-on-year to approximately **HK$551 million**, gross margin rose to **49.1%**, and it successfully turned losses into profits, recording a profit of approximately **HK$61.86 million**[32](index=32&type=chunk) - The Group achieved significant sales growth in markets including Mainland China, Vietnam, Bangladesh, and India, with increased sales also from production bases in Central America and Southern Europe[34](index=34&type=chunk) - Revenue contribution from **RFID products** significantly increased, while the Group actively procured eco-friendly materials in response to **ESG trends**[35](index=35&type=chunk) - Primway, a French packaging associate company acquired in 2023, completed integration in 2024 and began contributing revenue to the Group[36](index=36&type=chunk) [Outlook](index=17&type=section&id=Outlook) For 2025, the Group plans to leverage its global presence, invest in automation, control costs, and expand RFID and ESG initiatives to enhance competitiveness and shareholder value amid economic uncertainties - Facing market uncertainties in 2025, the Group will continue to leverage its global presence, increase automation investment, and improve its management system[37](index=37&type=chunk) - Future efforts will focus on expanding the **RFID product market** and integrating **Environmental, Social, and Governance (ESG)** principles into operations to enhance competitiveness[38](index=38&type=chunk) [Financial Review](index=18&type=section&id=Financial%20Review) FY2024 saw significant revenue growth of 48.0% to HK$551 million, improved gross margin, increased administrative expenses, reduced finance costs, and a return to profitability with an annual profit of HK$61.9 million Summary of Financial Performance for FY2024 | Item | FY2024 (HK$ million) | FY2023 (HK$ million) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 551.1 | 372.3 | +48.0% | | Gross Profit | 270.6 | 162.6 | +66.4% | | Gross Margin | 49.1% | 43.7% | +5.4pp | | Selling and Distribution Expenses | 61.2 | 59.5 | +2.9% | | Administrative Expenses | 135.6 | 121.0 | +12.1% | | Finance Costs | 2.4 | 3.2 | -25.3% | | Profit/(Loss) for the Year | 61.9 | (25.7) | Turned Profitable | [Capital Structure, Liquidity and Financial Resources](index=20&type=section&id=Capital%20Structure,%20Liquidity%20and%20Financial%20Resources) The Group's financial position is robust, marked by increased net assets and cash, significantly reduced bank borrowings, and improved liquidity, providing ample resources for operations - Net assets increased by **26.1%** from **HK$195 million** at end-2023 to **HK$246 million** at end-2024[49](index=49&type=chunk) - Cash and cash equivalents and pledged deposits increased by **49.5%** to **HK$72.8 million**; interest-bearing bank borrowings decreased by **73.2%** to **HK$6.2 million**[49](index=49&type=chunk) - The current ratio improved from **1.2x** at end-2023 to **1.6x** at end-2024[50](index=50&type=chunk) - The gearing ratio (bank borrowings plus lease liabilities divided by equity) slightly increased from **24.7%** in 2023 to **27.5%** in 2024[51](index=51&type=chunk) [Other Information](index=22&type=section&id=Other%20Information) This section covers post-reporting period events, employee and remuneration policies, significant transactions, share repurchases, corporate governance practices, and details regarding dividends and the Annual General Meeting [Post-Reporting Period Events](index=22&type=section&id=Post-Reporting%20Period%20Events) After the reporting period, the company changed its principal share registrar and registered office address in the Cayman Islands on January 10, 2025 - Subsequent to December 31, 2024, the company changed its principal share registrar and registered office in the Cayman Islands[56](index=56&type=chunk) [Employees and Remuneration Policy](index=22&type=section&id=Employees%20and%20Remuneration%20Policy) As of end-FY2024, the Group had 1,424 employees, with annual employee benefit expenses (excluding directors) increasing by 11.3% to HK$171 million - As of FY2024, the Group had **1,424 employees**, an increase from **1,219** in 2023[57](index=57&type=chunk) - Employee benefit expenses (excluding directors' emoluments) for FY2024 were approximately **HK$171 million**, an **11.3%** increase from **HK$153.7 million** in FY2023[57](index=57&type=chunk) [Significant Transactions](index=22&type=section&id=Significant%20Transactions) The Group completed two significant transactions: a RMB 9.8 million UV inkjet printer purchase (discloseable) and a 15-year factory lease renewal in Boluo County (major transaction) - On December 6, 2024, the Group purchased a UV inkjet printing machine for **RMB 9.8 million**, which constituted a discloseable transaction[58](index=58&type=chunk)[59](index=59&type=chunk) - On July 23, 2024, the Group entered into a **15-year lease agreement** for a factory in Boluo County, which constituted a major transaction[60](index=60&type=chunk)[61](index=61&type=chunk) [Share Repurchase](index=24&type=section&id=Share%20Repurchase) In FY2024, the company repurchased **10,410,000 shares** for **HK$416,400** on the Stock Exchange, holding them as treasury shares - In the financial year 2024, the company repurchased a total of **10,410,000 shares** for a total consideration of **HK$416,400**, which are held as treasury shares[63](index=63&type=chunk) [Corporate Governance](index=24&type=section&id=Corporate%20Governance) The company maintains high corporate governance standards, complying with Listing Rules, adopting a standard code for directors' securities transactions, and operating an audit committee, with no share option activity during the period - The company has complied with all code provisions of the Corporate Governance Code during the reporting period[65](index=65&type=chunk) - The Audit Committee, comprising three independent non-executive directors, has reviewed the Group's final results[68](index=68&type=chunk) - During the financial year 2024, no share options were granted, exercised, cancelled, or lapsed[67](index=67&type=chunk) [Dividends and Annual General Meeting](index=27&type=section&id=Dividends%20and%20Annual%20General%20Meeting) The Board proposed a final dividend of 0.75 HK cents per share, payable July 18, 2025, subject to June 20, 2025 AGM approval, with relevant share transfer closure dates provided - The Board recommended a final dividend of **0.75 HK cents** per share, subject to approval at the Annual General Meeting to be held on June 20, 2025[70](index=70&type=chunk) - To qualify for attending the Annual General Meeting, transfer documents must be lodged by **4:30 p.m. on June 16, 2025**[71](index=71&type=chunk) - To qualify for the final dividend, transfer documents must be lodged by **4:30 p.m. on June 25, 2025**[71](index=71&type=chunk)

Financial Performance - The Group's revenue increased by 65.1% to approximately HK$264.5 million in the first half of 2024, compared to approximately HK$160.3 million in the same period of 2023[6]. - The gross profit margin rebounded to 46.9% during the Review Period, up from 39.3% in the first half of 2023[6]. - Profit attributable to owners of the Company was approximately HK$31.3 million, compared to a loss of approximately HK$18.8 million in the first half of 2023[6]. - The overall gross profit margin for the same period amounted to approximately HK$124.2 million, reflecting a significant increase of approximately 97.3% from HK$62.9 million in the corresponding period of 2023[12]. - The reported net profit for the first half of 2024 was approximately HK$31.3 million, compared to a net loss of approximately HK$18.8 million in the first half of 2023[13]. - The increase in revenue was driven by a gradual recovery in demand for apparel brands across various regional markets, leading to an increase in customer orders[9]. - Revenue for the six months ended June 30, 2024, was HK$264,519,000, an increase from HK$160,255,000 in the same period of 2023, representing a growth of 65%[39]. - Gross profit for the same period was HK$124,174,000, compared to HK$62,926,000 in 2023, indicating a 97% increase[39]. - Profit before tax for the period was HK$37,848,000, a significant recovery from a loss of HK$18,067,000 in the previous year[39]. - The total comprehensive income for the period as of June 30, 2024, was HK$21,313,000, while the total comprehensive loss for the same period in 2023 was HK$28,615,000[42]. Operational Efficiency - The Group successfully transitioned to a profitable position by leveraging its global network of sales and production facilities[6]. - New plants in Bangladesh, Central America, and Eastern Europe have been operating smoothly, improving operational efficiency and reducing costs[6]. - The Group has established an extensive global network of sales and production facilities at strategic locations over the past several years[5]. - The Group has transitioned from the investment stage to the harvesting period, focusing on consolidating its business foundation and improving operational efficiency[16]. Market Conditions - The Chinese Mainland and the United States recorded GDP growth of 5.0% and 2.1% year-on-year, respectively, in the first half of 2024[5]. - Overall retail sales in the United States increased by 2.5% in sales orders between April and June 2024 compared to the same period last year[5]. - The improving global economic trend since the second half of 2023 has bolstered consumer sentiment and industry development[6]. - The overall consumer confidence index in the United States rose to 100.3 in July 2024, indicating improving market conditions[15]. - Retail sales in the apparel and accessories sector in the U.S. saw a 0.6% increase in June 2024 compared to the previous month[15]. Financial Position - As of June 30, 2024, the Group had net current assets of approximately HK$41.7 million, an increase of 46.3% from approximately HK$28.6 million as of December 31, 2023[14]. - Cash and cash equivalents increased to approximately HK$56.8 million as of June 30, 2024, up 66.5% from approximately HK$34.2 million as of December 31, 2023[14]. - The current ratio improved to approximately 1.27 times as of June 30, 2024, compared to approximately 1.19 times as of December 31, 2023[14]. - The gearing ratio decreased to approximately 19.2% as of June 30, 2024, down from approximately 24.7% as of December 31, 2023[14]. - The Group's interest-bearing bank borrowings were approximately HK$13.4 million as of June 30, 2024, a reduction of 41.5% from approximately HK$23.1 million as of December 31, 2023[14]. Shareholder Information - No interim dividend is recommended for the six months ended June 30, 2024, consistent with the previous year[20]. - The Group maintained a public float of no less than 25% as required under the Listing Rules[20]. - As of June 30, 2024, Mr. Barry Chan and Ms. Candy Law hold 1,308,000,000 shares of the Company, representing 65.4% of the total issued share capital[23]. - Mr. Barry Chan owns 51% and Ms. Candy Law owns 49% of Charming International, which holds the aforementioned shares[25]. - The interests of substantial shareholders include Charming International, which holds 1,308,000,000 shares, equating to 65.4% of the Company's total issued share capital[28]. Risk Management and Future Outlook - The Group remains cautiously optimistic about its outlook despite challenges such as high interest rates and uncertain trade relationships[15]. - The Group aims to minimize borrowings and enhance liquidity flexibility to strengthen resilience against market fluctuations[16]. - The Group will actively explore new business opportunities and diversify its operations to create long-term shareholder value[16]. - The Group's management expressed confidence in future performance despite known and unknown risks, as indicated in forward-looking statements[35]. Environmental Commitment - Solar panels have been installed in factories in Mainland China to reduce carbon emissions, emphasizing the Group's commitment to environmental protection[16]. Corporate Governance - The Company has established an Audit Committee comprising three independent non-executive Directors to oversee financial reporting and internal controls[30]. - The Audit Committee is responsible for safeguarding the Group's assets and ensuring effective risk management systems[30].

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 264,519,000, representing a 65% increase from HKD 160,255,000 in the same period of 2023[1] - Gross profit for the same period was HKD 124,174,000, up 97% from HKD 62,926,000 year-on-year[1] - The company reported a profit before tax of HKD 37,848,000 compared to a loss of HKD 18,067,000 in the previous year[2] - Net profit for the period was HKD 31,292,000, a significant recovery from a loss of HKD 18,761,000 in 2023[2] - Basic and diluted earnings per share for the period were HKD 1.56, compared to a loss per share of HKD 0.94 in the prior year[2] - Total revenue for the six months ended June 30, 2024, reached HKD 264,519,000, a significant increase of 65% compared to HKD 160,255,000 for the same period in 2023[12] - The company reported a gross profit of HKD 123,174,000, representing a gross margin of approximately 46.5% for the first half of 2024[18] - The company achieved a net profit of approximately HKD 31,300,000 for the first half of 2024, compared to a net loss of HKD 18,800,000 in the same period of 2023[35] - The gross margin improved to 46.9% in the first half of 2024, compared to 39.3% in the same period of 2023[32] Assets and Liabilities - Non-current assets increased to HKD 194,679,000 as of June 30, 2024, from HKD 187,668,000 at the end of 2023[4] - Current assets totaled HKD 193,838,000, up from HKD 181,757,000 at the end of 2023[4] - The company's total equity increased to HKD 216,345,000 from HKD 195,032,000 year-on-year[5] - Non-current assets totaled HKD 185,453,000 as of June 30, 2024, compared to HKD 178,814,000 at the end of 2023, indicating a growth of 3.6%[13] - Trade receivables increased to HKD 46,929,000 as of June 30, 2024, compared to HKD 45,566,000 as of December 31, 2023, with a net book value of HKD 45,951,000[25] - Trade payables decreased to HKD 54,938,000 as of June 30, 2024, from HKD 57,323,000 as of December 31, 2023[26] - As of June 30, 2024, the group's net current assets amounted to approximately HKD 41,700,000, an increase from HKD 28,600,000 as of December 31, 2023[36] - The group's cash and cash equivalents reached approximately HKD 56,800,000 as of June 30, 2024, compared to HKD 34,200,000 as of December 31, 2023[36] - The current ratio improved to approximately 1.27 times as of June 30, 2024, up from 1.19 times as of December 31, 2023[37] - The debt-to-equity ratio was approximately 19.2% as of June 30, 2024, a decrease from 24.7% as of December 31, 2023[37] Market and Growth Strategy - The company continues to focus on the production and sale of printed products, with ongoing investments in technology and market expansion[7] - The financial results reflect a strong recovery and growth strategy, positioning the company for future opportunities in the market[8] - Revenue from mainland China was HKD 93,527,000, up 56% from HKD 59,815,000 year-over-year[12] - The company plans to expand its market presence in Bangladesh, where revenue increased by 120% to HKD 44,476,000[12] - The company continues to focus on enhancing its product offerings and exploring potential mergers and acquisitions to drive future growth[10] - The company is actively developing and improving RFID products and solutions to capitalize on the growing application of RFID technology in the retail and apparel industry[33] - The group is focusing on RFID technology as a key development area, which is expected to drive growth as major brands adopt RFID products[41] Expenses and Financial Management - The cost of sales increased to HKD 140,345,000 for the six months ended June 30, 2024, compared to HKD 97,329,000 in the previous year, reflecting a rise of 44%[18] - The company recorded other income and gains of HKD 3,933,000 for the first half of 2024, down from HKD 5,778,000 in the same period last year[17] - Total tax expenses for the period amounted to HKD 6,556,000, a significant increase from HKD 694,000 in the previous year[21] - The company incurred tax expenses at a rate of 25% for profits generated in China and 21% for U.S. federal income tax[20] - Sales and distribution expenses increased by approximately 6.8% to HKD 31,600,000, driven by an increase in the number of sales representatives and sales activities[34] - Administrative expenses rose by approximately 4.2% to HKD 57,300,000, primarily due to increased operational costs from expanding new subsidiaries[35] Sustainability and Corporate Responsibility - The company has been focusing on sustainable development by sourcing biodegradable materials and reducing the use of microplastics in its products[33] - The group has constructed solar panels in its factories in mainland China to reduce carbon emissions, emphasizing its commitment to environmental sustainability[41] Corporate Governance and Compliance - The company has not adopted any new or revised Hong Kong Financial Reporting Standards that would have a significant financial impact during the current accounting period[10] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited interim consolidated financial information for the six months ended June 30, 2024, and confirmed compliance with applicable accounting standards[51] - The interim report for the six months ended June 30, 2024, containing all information required by the listing rules, has been published on the Hong Kong Stock Exchange website and the company's website[52] - Forward-looking statements regarding the group's financial condition and operational performance are subject to known and unknown risks and uncertainties that may cause actual results to differ significantly from those anticipated[53] Employee and Management - Total remuneration for key management personnel was HKD 3,798,000 for the six months ended June 30, 2024, up from HKD 3,583,000 in the previous year[31] - The board expresses gratitude to all employees for their hard work and dedication, which are essential for the group's continued success[54] Dividend and Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[22] - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2024[44] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period, and as of June 30, 2024, it held no treasury shares[51]

Financial Performance - Revenue for the year ended December 31, 2023, was HK$372,310,000, a decrease of 8.9% compared to HK$408,572,000 in 2022[10] - Profit before tax and impairment of non-financial assets was a loss of HK$11,585,000, compared to a profit of HK$20,310,000 in 2022[10] - The Group recorded a net loss attributable to owners of approximately HK$25.7 million for the year, compared to a profit of approximately HK$12.6 million in 2022[31] - The Group's revenue decreased by 8.9% year-on-year to approximately HKD 372.3 million in 2023, down from HKD 408.6 million in 2022[34] - The Group's operating loss was approximately HK$25.7 million compared to an operating profit of approximately HK$12.6 million in FY2022[65] Assets and Liabilities - Total assets as of December 31, 2023, were HK$369,425,000, down from HK$395,067,000 in 2022, reflecting a decrease of 6.5%[10] - Total liabilities increased to HK$174,393,000 in 2023, up from HK$155,807,000 in 2022, representing a rise of 11.9%[10] - Equity attributable to owners of the Company decreased to HK$195,032,000 in 2023 from HK$239,260,000 in 2022, a decline of 18.5%[10] - Net assets decreased to approximately HK$195.0 million as of 31 December 2023, down from approximately HK$239.3 million as of 31 December 2022[72] - The Group's net current assets decreased to approximately HK$28.6 million as of December 31, 2023, down approximately HK$41.8 million from approximately HK$70.4 million as of December 31, 2022, resulting in a current ratio of 1.2 times, down from 1.5 times[76][80] Market Trends and Consumer Confidence - The Global Consumer Confidence Index recorded a month-on-month increase of 0.5 points to 47.71 in December 2023, indicating signs of recovery in the retail industry[14] - The retail industry faced challenges due to high interest rates and inflation, leading to low consumer confidence and excess inventory[13] - Apparel sales in certain areas returned to pre-pandemic levels, revitalizing the global manufacturing industry, including apparel labels and trim products[14] - The global consumer confidence index rose to 49.1 points in February 2024, indicating a gradual improvement in the retail environment[43] Strategic Initiatives and Growth - The Group's global expansion strategy continued despite economic challenges, demonstrating resilience and adaptability in various markets[13] - The Group completed the acquisition of 25% equity in Primway S.A.R.L, enhancing its business presence in Europe and contributing to immediate revenue growth[19] - The Group's RFID product sales experienced steady growth due to increased adoption in the apparel industry, attracting many new customers in Europe[20] - The Group expanded its production capacity with new plants in Mexico and Bangladesh, establishing production bases across Asia, Europe, and America by the end of 2023[19] - The Group's sales network has been extended to over 40 markets globally, with new sales offices in Italy and Spain successfully attracting new customers and orders[19] Cost Management and Profitability - The Group maintained an annual gross profit margin of 43.7% despite a revenue decline of approximately 8.9% to HK$372.3 million in 2023, down from HK$408.6 million in 2022[31] - The Group's gross profit decreased by approximately HK$10.9 million or 6.3%, from approximately HK$173.5 million in FY2022 to approximately HK$162.6 million in FY2023, with a gross profit margin increase from 42.5% to 43.7%[52] - The Group's proactive cost control measures and flexible resource deployment helped maintain its gross profit margin despite rising labor costs due to inflation[31] Financial Management and Governance - The Group maintained a prudent financial management approach, ensuring a healthy liquidity position throughout the reporting period[82][89] - The Group did not recommend the payment of a final dividend for FY2023, compared to HK$0.20 per ordinary share for FY2022[95][101] - The Board consists of six Directors, including three executive Directors and three independent non-executive Directors, ensuring a balanced composition for effective management[124] - The Company has adopted a dividend policy allowing for the declaration and distribution of dividends at the Board's discretion[192] Internal Controls and Risk Management - The Company emphasizes the importance of internal control and risk management to protect its assets and shareholders' interests[151] - The Audit Committee reviews the Group's control environment and risk assessment processes to ensure effective management of business and control risks[151] - The Board is satisfied that the overall financial, operational, and compliance controls, as well as risk management, remain effective and adequate[154] Shareholder Communication and Engagement - The Company recognizes the importance of communication with shareholders and has adopted a Shareholders Communication Policy[194] - The AGM provides an opportunity for communication between the Board and shareholders, with key personnel present to address questions[195] - Voting at general meetings will be conducted by poll, with detailed procedures explained to shareholders[196] - The Company aims to ensure timely information is provided to shareholders to enable informed engagement and exercise of rights[200]