Financial Performance - For the fiscal year ended December 31, 2024, the company's revenue increased to HKD 421.1 million, a growth of approximately 79.5% compared to HKD 234.0 million in the previous year[8]. - The gross profit for the same period was HKD 117.9 million, representing a gross margin of 28%[8]. - The net profit attributable to shareholders rose to HKD 49.4 million, an increase of approximately 203.3% from HKD 16.3 million in the prior year[12]. - The OEM business, primarily focused on the overseas market, particularly the US, was the main contributor to revenue and profit growth, driven by increased sales orders from existing customers[11]. - Revenue from the OEM business reached approximately HKD 417.3 million, up about 88.0% from HKD 221.9 million in the previous year, with the largest customer contributing HKD 323.2 million, a 122.1% increase[19]. - The overall gross profit for the year was approximately HKD 117.9 million, with a gross profit margin of about 28.0%, down from 32.1% in the previous year[21]. - The group recorded a net profit attributable to equity holders of approximately HKD 49.4 million for the year ended December 31, 2024, up from approximately HKD 16.3 million in the previous year, primarily due to increased revenue from the OEM business[27]. Assets and Liabilities - The total assets of the company as of December 31, 2024, were HKD 288.6 million, up from HKD 255.1 million in the previous year[8]. - The total liabilities increased to HKD 64.1 million, compared to HKD 45.6 million in the prior year[8]. - The company's net assets reached HKD 224.5 million, reflecting an increase from HKD 209.6 million year-over-year[8]. Market Challenges - The "Youyou Monkey" business segment, focused on the Chinese market, experienced a significant decline in sales due to intensified local competition and a challenging industry environment[11]. - The overall economic environment remains complex, influenced by global inflation trends and geopolitical tensions, which may impact future performance[10]. - The group faces challenges in the local market due to intense competition and a shift in consumer purchasing habits from offline to online[42]. Strategic Plans - The company plans to continue enhancing communication with major customers to capture production opportunities, particularly for stainless steel water bottles[11]. - The group plans to diversify its customer base and enhance manufacturing capabilities, particularly in stainless steel sports bottles, to mitigate risks associated with market dependence[15]. - The group is focusing on improving online sales through various internet platforms to capitalize on the e-commerce trend in China[15]. - The group is committed to minimizing operating costs and expenses to enhance profitability through automation and streamlining production cycles[15]. - The group plans to enhance its core business by maintaining high-quality products and services, expanding customer connections, and exploring production capacity improvements[41]. Employee and Workforce - The group employed 818 full-time employees as of December 31, 2024, an increase from 626 employees in 2023, driven by increased production demands due to higher sales orders[38]. - Employee benefits expenses for the year ended December 31, 2024, totaled approximately HKD 84.0 million, up from HKD 65.7 million in 2023[38]. - The company emphasizes a fair and non-discriminatory work environment, promoting diversity and equal opportunities for all employees[180]. - Employee turnover rate for 2024 is 28%, with both male and female employees experiencing the same rate[194]. - The company reported 3 work-related injuries in 2024, an increase from 2 in 2023, with a total of 355 lost workdays due to injuries[198]. Corporate Governance - The board consists of five executive directors and three independent non-executive directors, ensuring a balanced composition with diverse knowledge and experience[64]. - The company has adopted the principles of the corporate governance code and complies with its provisions as of December 31, 2024[59]. - The company has a dedicated audit committee, remuneration committee, and nomination committee to ensure proper oversight and governance[58]. - The board actively engages in monitoring the group's operational performance and strategic direction[63]. - The company has established a whistleblowing policy to encourage reporting of unethical behavior, with no significant fraud or misconduct reported for the year ending December 31, 2024[80]. Environmental, Social, and Governance (ESG) Initiatives - The company has identified 21 significant ESG issues categorized into four areas: environment, employment and labor practices, operational practices, and community[136]. - The ESG report covers the period from January 1, 2024, to December 31, 2024, detailing the company's overall performance in environmental and social aspects[116]. - The company emphasizes the importance of stakeholder engagement, continuously assessing their expectations and requirements to align business development accordingly[134]. - The company is committed to high standards of greenhouse gas management and will continue to review practices to minimize environmental impact[151]. - The company aims to maintain or reduce emission density, waste production, and resource consumption levels compared to the previous year[145]. Safety and Compliance - The company has implemented internal safety management policies to reduce workplace accidents and enhance safety monitoring[195]. - All new employees must undergo safety training and pass tests before starting work, ensuring a safe working environment[195]. - The company is committed to maintaining robust safety management and compliance with relevant laws and regulations[200]. - The company adheres to various labor laws and regulations, ensuring compliance in areas such as recruitment, promotion, and employee welfare[175].

Financial Performance - The company's revenue for the year ended December 31, 2024, was HKD 421,091,000, representing a 79.8% increase from HKD 233,990,000 in 2023[3] - Gross profit for the same period was HKD 117,900,000, up 56.7% from HKD 75,125,000 in the previous year[3] - Operating profit increased to HKD 62,136,000, a significant rise of 117.0% compared to HKD 28,589,000 in 2023[3] - Net profit attributable to equity holders of the company was HKD 49,386,000, which is a 203.5% increase from HKD 16,282,000 in the prior year[4] - Basic and diluted earnings per share rose to HKD 24.69, compared to HKD 8.14 in 2023, marking a 203.5% increase[4] - The group reported total revenue of HKD 421,091,000 for the year ended December 31, 2024, a significant increase from HKD 233,990,000 in 2023, representing an increase of approximately 79.7%[15] - The group’s net profit for the year was HKD 49,386,000, compared to HKD 16,282,000 in the previous year, marking an increase of about 203.5%[21] - The group reported a net profit attributable to shareholders of approximately HKD 49.4 million for the fiscal year ending December 31, 2024, a substantial increase of about 203.3% from approximately HKD 16.3 million in 2023[32] Revenue Sources - The revenue from OEM business customers was HKD 417,306,000, a substantial increase of 88.0% from HKD 221,914,000 in 2023[13] - The OEM business generated revenue of approximately HKD 417.3 million, an increase of about 88.0% from HKD 221.9 million in the previous year, with the largest customer contributing approximately HKD 323.2 million, up 122.1%[36] - The revenue from stainless steel sports bottles within the OEM business was approximately HKD 212.4 million, significantly up from about HKD 14.9 million in 2023[36] - The group’s revenue from the United States was HKD 415,490,000 in 2024, significantly up from HKD 220,866,000 in 2023, representing an increase of approximately 88.2%[17] Expenses and Costs - The group’s operating expenses included administrative expenses of HKD 47,233,000 in 2024, compared to HKD 38,298,000 in 2023, an increase of about 23.3%[15] - Administrative expenses increased by approximately 23.3% to HKD 47.2 million in 2024 from HKD 38.3 million in 2023, mainly due to adjustments in expected credit losses and share-based payment expenses[41] - Sales expenses for the year ended December 31, 2024, were approximately HKD 8.4 million, a decrease of about 7.9% from HKD 9.2 million in 2023, attributed to cost control measures[40] - The group’s tax expense for the year was HKD 14,543,000, compared to HKD 7,718,000 in 2023, reflecting an increase of about 88.5%[20] Assets and Equity - Total assets as of December 31, 2024, amounted to HKD 288,571,000, up from HKD 255,142,000 in 2023, reflecting a growth of 13.1%[6] - The company's total equity increased to HKD 224,503,000 from HKD 209,567,000, representing a growth of 7.1%[6] - The group’s trade receivables increased to HKD 76,949,000 in 2024 from HKD 40,888,000 in 2023, representing an increase of approximately 88.2%[24] Dividends - The group plans to pay a total of HKD 60,000,000 in dividends for the year, compared to HKD 12,000,000 in 2023, reflecting a substantial increase of 400%[23] - The board declared an interim dividend of HKD 0.03 and a special interim dividend of HKD 0.07 per share, totaling HKD 0.10 per share, to be paid on October 4, 2024[62] - The board proposed a final dividend of HKD 0.03 and a special final dividend of HKD 0.17 per share, totaling HKD 0.20 per share, subject to shareholder approval, which is an increase from HKD 0.06 per share in 2023, amounting to HKD 40 million compared to HKD 12 million in 2023[62] Employee Information - The company employed 818 full-time employees as of December 31, 2024, an increase from 626 employees in 2023, primarily due to increased production demands from higher sales orders[55] - Employee benefits expenses totaled approximately HKD 84.0 million for the year ended December 31, 2024, compared to approximately HKD 65.7 million in 2023[55] Strategic Initiatives - The group plans to enhance its manufacturing capabilities and diversify its customer base to mitigate risks associated with trade tensions, particularly between the US and China[34] - The group aims to improve online sales through various internet platforms to capitalize on the growing trend of e-commerce in China[34] - The company aims to mitigate market risks by enhancing product quality, strengthening customer relationships, and exploring new customer opportunities globally[58] - The company is evaluating potential acquisition targets globally to enhance growth and achieve production synergies[59] Market Challenges - The company anticipates challenges in the post-pandemic era, including global trade tensions and inflation, which may impact future business performance[57] - The YoY decline in the Youyou Mami business revenue was approximately 68.7%, with revenue recorded at about HKD 3.8 million compared to HKD 12.1 million in the previous year, attributed to intensified local competition and poor industry conditions[37] - The "Youyou Maliao" business relies on the local Chinese market and faces intensified competition and a shift in consumer purchasing habits from offline to online[59] Corporate Governance - The company has maintained good corporate governance practices and has complied with all applicable codes under the corporate governance code as of December 31, 2024[67] - The company has adopted the standards for directors' securities trading as per the listing rules and confirmed compliance for the year ending December 31, 2024[66] Audit and Reporting - The preliminary financial results for the year ending December 31, 2024, have been reviewed by the audit committee and verified by the auditors[68] - The annual results announcement will be published on the stock exchange and the company's website at an appropriate time[69]

MS GROUP HOLDINGS LIMITED 萬 成 集 團 股 份 有 限 公 司 (於開曼群島註冊成立的有限公司) 股份代號 : 1451 中 期 報 告 2024 | --- | --- | |------------------------------------|-------| | 公司資料 | 02 | | 財務摘要 | 03 | | 管理層討論與分析 | 04 | | 獨立核數師對中期財務資料的審閱報告 | 11 | | 簡明綜合中期收益表 | 12 | | 簡明綜合中期全面收益表 | 13 | | 簡明綜合中期財務狀況表 | 14 | | 簡明綜合中期權益變動表 | 16 | | 簡明綜合中期現金流量表 | 17 | | 簡明綜合中期財務資料附註 | 18 | | 其他資料 | 30 | | 釋義 | 38 | 目錄 公司資料 | --- | --- | --- | |----------------------------------------|--------------------------|----------------------------------------| ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 178,986,000, compared to HKD 113,163,000 for the same period in 2023, representing a 58% increase[2] - Gross profit increased to HKD 49,467,000, up from HKD 37,047,000, resulting in a gross margin of 27.6%[2] - Profit attributable to equity holders for the period was HKD 18,967,000, compared to HKD 9,063,000 in the previous year, marking a 109% increase[2] - Basic earnings per share rose to HKD 9.48 from HKD 4.53, reflecting a 109% growth[2] - Total comprehensive income for the period was HKD 16,325,000, compared to HKD 4,454,000 in the prior year[4] - Operating profit for the six months was HKD 24,233,000, up from HKD 14,386,000, indicating a 68% increase[2] - The company reported a profit before tax of HKD 24,815,000 for the period, with a net profit of HKD 18,967,000[18] - The pre-tax profit for the six months ended June 30, 2024, was HKD 92,372,000, a significant increase from HKD 43,986,000 in the same period of 2023[21] Dividends - The company declared an interim dividend of HKD 9.48 per share, with no special dividend declared in the previous year[2] - The company proposed an interim special dividend of HKD 0.07 per ordinary share, totaling HKD 6,000,000, which is a new initiative compared to no special dividend in the same period last year[23] - The total proposed interim dividend for 2024 is expected to be paid from retained earnings on October 4, 2024[23] - The company proposed an interim dividend of HKD 0.03 per share and a special interim dividend of HKD 0.07 per share, totaling HKD 0.10 per share, compared to no dividends for the same period last year[66] Assets and Liabilities - The company's total assets as of June 30, 2024, were HKD 276,534,000, compared to HKD 255,142,000 at the end of 2023[6] - Current liabilities increased to HKD 62,018,000 from HKD 45,575,000, reflecting a 36% rise[6] - Trade receivables as of June 30, 2024, amounted to HKD 56,045,000, an increase from HKD 40,888,000 as of December 31, 2023[28] - The company reported a net book value of property, plant, and equipment of HKD 33,373,000 as of June 30, 2024, compared to HKD 32,861,000 at the end of 2023[27] - The group’s total lease liabilities amounted to HKD 8,059,000 as of June 30, 2024[34] - The group’s trade payables as of June 30, 2024, included HKD 10,187,000 in total[31] Cash Flow - The net cash and cash equivalents decreased to HKD 8,467,000 from HKD 126,294,000, indicating a significant reduction in liquidity[5] - Operating cash flow for the six months ended June 30, 2024, was HKD 17,527,000, a decrease from HKD 27,415,000 in the same period of 2023[9] - Net cash from operating activities was negative HKD 4,341,000, compared to positive HKD 26,155,000 in the previous year[9] - Total cash and cash equivalents as of June 30, 2024, were HKD 122,906,000, down from HKD 146,423,000 at the end of June 2023[9] - The group faced a decrease in cash flow from investing activities, with net cash used amounting to HKD 2,005,000 compared to HKD 1,068,000 in the prior period[9] - The total financing cash flow was negative HKD 14,543,000, reflecting ongoing financial obligations[9] Operational Highlights - The company continues to focus on expanding its product offerings in the OEM and proprietary brand segments, aiming for increased market penetration[18] - The group reported a significant increase in revenue from its OEM business in the U.S. market for the six months ending June 30, 2024, driven by increased sales orders from existing customers[39] - Revenue from the Youyou Monkey business experienced a notable decline year-on-year, primarily due to intense industry competition and a decrease in birth rates in China[39] - The OEM business generated revenue of approximately HKD 176.7 million, an increase of about 65.6% from HKD 106.7 million in the same period of 2023, driven by increased orders for stainless steel sports water bottles[42] - The group actively engaged with major customers to explore potential business opportunities, particularly in stainless steel sports bottles[39] - The group anticipates challenges in its OEM business due to potential trade policy changes in the U.S. and geopolitical tensions, particularly with the upcoming U.S. presidential election[61] - The group aims to deepen cooperation with existing customers and explore new customer relationships to diversify revenue sources and reduce reliance on the U.S. market[62] - The group is exploring the possibility of increasing manufacturing capacity for products, including stainless steel sports bottles, to meet existing customer demand and improve product margins[62] - The group’s sales performance significantly improved in the first half of 2024, attributed to its long-term industry presence and efforts in business development[62] Employee and Management - As of June 30, 2024, the group employed 737 full-time employees, an increase from 634 employees as of June 30, 2023, due to higher production demands driven by increased sales orders[60] - Employee benefits expenditure for the first half of 2024 was approximately HKD 37.2 million, compared to HKD 32.8 million in the first half of 2023, reflecting the group's commitment to employee development and training[60] - The company’s management expenses increased to HKD 37,173,000 for the six months ended June 30, 2024, compared to HKD 1,187,000 in the same period of 2023, indicating a strategic investment in operations[21] Governance and Compliance - The company has adopted and complied with the corporate governance code as per the listing rules for the six months ending June 30, 2024[67] - The independent auditor has reviewed the unaudited condensed interim financial information for the six months ending June 30, 2024, in accordance with the relevant standards[68] - The interim results announcement will be published on the Hong Kong Stock Exchange and the company's website at an appropriate time[69] Miscellaneous - The group recognized share-based payment expenses of HKD 624,000 for the six months ending June 30, 2024, compared to HKD 268,000 for the same period in 2023[37] - The group has not made any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2024[56] - There are no significant contingent liabilities or pending legal proceedings involving the group as of June 30, 2024[58] - The group has no plans for significant future investments or capital assets as of the mid-term performance announcement date[57]

Financial Performance - Total revenue for the year ended December 31, 2023, decreased by approximately 10.1% to HKD 233.99 million from HKD 260.14 million in 2022[9]. - The gross profit for 2023 was HKD 75.13 million, with a gross margin improvement in the OEM business despite a decline in sales orders[11]. - Net profit attributable to shareholders increased by approximately HKD 2.5 million or 17.9% to HKD 16.28 million in 2023 from HKD 13.80 million in 2022[12]. - The total assets as of December 31, 2023, were HKD 255.14 million, compared to HKD 249.29 million in 2022[9]. - The total liabilities as of December 31, 2023, were HKD 45.58 million, an increase from HKD 41.47 million in 2022[9]. - Financing income increased to HKD 4.05 million in 2023 from HKD 827,000 in 2022, positively impacting net profit[9]. - The group recorded a net profit attributable to equity holders of approximately HKD 16.3 million, an increase from HKD 13.8 million in the previous year, driven by improved gross margins and reduced selling expenses[28]. Sales and Market Performance - The number of third-party retail stores selling the company's products in China decreased from 170 at the end of 2022 to 159 at the end of 2023[12]. - Revenue from the OEM business was approximately HKD 221.9 million, down about 8.0% from HKD 241.1 million in the previous year, with the largest customer contributing HKD 145.5 million, an increase of 12.4%[19]. - The YoY revenue for the Youyoumali business decreased by approximately 36.5%, from HKD 19.0 million to HKD 12.1 million, primarily due to intense local market competition[20]. - The OEM business faced weak sales performance in 2023 due to reduced product demand from clients, attributed to a cautious procurement approach in an uncertain industry environment[45]. Cost Management - Selling expenses decreased by approximately 31.1% to HKD 9.2 million from HKD 13.3 million, attributed to cost control measures[22]. - Administrative expenses were approximately HKD 38.3 million, a decrease of about 6.9% from HKD 41.2 million, consistent with the decline in total revenue[24]. - The company anticipates continued challenges and uncertainties for both OEM and Youyou Monkey businesses due to global economic issues and declining birth rates in China[14]. Employee and Workforce Management - The total employee benefits expenditure for the year ended December 31, 2023, was approximately HKD 65.7 million, down from approximately HKD 73.9 million in 2022[41]. - The group employed 626 full-time employees as of December 31, 2023, a decrease from 666 employees in the previous year, primarily due to reduced production needs[41]. - The employee turnover rate is monitored, and the company encourages open communication to address any issues related to employee satisfaction[194]. - The company emphasizes a fair and non-discriminatory work environment, promoting diversity and equal opportunities for all employees[189]. Corporate Governance - The company adopted the principles of the corporate governance code and complied with its provisions as of December 31, 2023[68]. - The board consists of four executive directors and three independent non-executive directors, ensuring a balanced composition with diverse knowledge and experience[74]. - The company has a mechanism for directors to seek independent professional advice at the company's expense, ensuring compliance with applicable rules and regulations[76]. - The board has established a clear directive for management, requiring approval for key matters such as the publication of annual and interim results, dividend decisions, and significant structural changes[80]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report covers the group's overall performance in environmental and social aspects for the year 2023, from January 1 to December 31[128]. - The company has identified 21 ESG-related issues categorized into four areas: environment, employment and labor practices, operational practices, and community[148]. - Total greenhouse gas emissions decreased by approximately 12% from 5,076 tons CO2 equivalent in 2022 to 4,469 tons CO2 equivalent in 2023[160]. - The company has been awarded the International Sustainability and Carbon Certification (ISCC) for its production facilities, indicating a commitment to sustainable development[170]. Future Outlook and Strategic Plans - The company has set a future revenue guidance of $150 million for the next fiscal year, representing a 20% increase from the current year[54]. - New product launches are expected to contribute an additional $30 million in revenue, with a focus on expanding the "Yoyo Monkey" brand[56]. - The company plans to enhance gender diversity on the board by appointing at least one female director by December 31, 2024, in compliance with listing rules[96]. - The group plans to explore suitable business and investment opportunities globally, including potential acquisitions that could provide production synergies[47].

Financial Performance - The total revenue for the year ended December 31, 2023, was HKD 233,990,000, a decrease of 10.0% compared to HKD 260,142,000 in 2022[3] - The gross profit for the year was HKD 75,125,000, down from HKD 79,797,000, reflecting a gross margin of approximately 32.1%[3] - Operating profit increased to HKD 28,589,000 from HKD 27,667,000, indicating a growth of 3.3%[3] - Net profit attributable to equity holders of the company rose to HKD 16,282,000, compared to HKD 13,805,000 in the previous year, representing an increase of 17.7%[4] - Earnings per share for the year was HKD 8.14, up from HKD 6.90, reflecting a growth of 17.9%[4] - The company reported a comprehensive income of HKD 13,365,000 for the year, compared to HKD 3,753,000 in 2022, indicating a significant improvement[6] - The net profit for the year was HKD 16,282,000, an increase of 17.9% from HKD 13,805,000 in 2022[26] - The group’s net profit attributable to shareholders increased by approximately HKD 2.5 million or about 17.9% to approximately HKD 16.3 million for the year ended December 31, 2023, driven by improved gross margins and reduced selling expenses[38] - The group recorded a net profit attributable to equity holders of approximately HKD 16.3 million for the year ended December 31, 2023, up from HKD 13.8 million in the previous year, mainly due to improved gross margin and reduced sales expenses[53] Revenue Breakdown - Revenue from OEM business customers decreased to HKD 221,914,000 from HKD 241,119,000, a decline of 7.9%[17] - Revenue from self-branded products fell to HKD 12,076,000 from HKD 19,023,000, a significant decrease of 36.5%[17] - Revenue from the United States was HKD 220,866,000 in 2023, a decrease of 4.3% from HKD 230,550,000 in 2022[20] - The largest customer contributed HKD 145,523,000 in revenue for 2023, an increase of 12.4% from HKD 129,449,000 in 2022[21] - The largest customer contributed approximately HKD 145.5 million in revenue, an increase of about 12.4% from HKD 129.4 million in 2022, while the second largest customer saw a revenue decrease of about 23.3% to HKD 67.8 million[43] - The YoYoMilo business recorded revenue of approximately HKD 12.1 million, a significant decrease of about 36.5% from HKD 19.0 million in 2022, primarily due to intense local market competition[44] Assets and Equity - Total assets as of December 31, 2023, amounted to HKD 255,142,000, an increase from HKD 249,286,000 in 2022[8] - Total equity attributable to equity holders of the company was HKD 209,567,000, slightly up from HKD 207,814,000[8] Expenses and Financial Management - The total tax expense for 2023 was HKD 7,718,000, an increase from HKD 6,411,000 in 2022[25] - Sales expenses for the year ended December 31, 2023, were approximately HKD 9.2 million, a decrease of about 31.1% from HKD 13.3 million in the previous year[47] - Administrative expenses for the year ended December 31, 2023, were approximately HKD 38.3 million, down about 6.9% from HKD 41.2 million in the previous year, maintaining around 15.8% and 16.4% of total revenue respectively[48] - The net financing income for the year ended December 31, 2023, was approximately HKD 4.1 million, an increase from HKD 0.8 million in the previous year, attributed to higher interest income from bank deposits[50] Cash Flow and Capital Expenditures - Cash and cash equivalents as of December 31, 2023, were approximately HKD 126.3 million, down from HKD 134.8 million in the previous year, primarily due to dividend payments and capital expenditures[54] - Capital expenditures for the year ended December 31, 2023, amounted to approximately HKD 10.7 million, significantly higher than HKD 1.8 million in the previous year, mainly for new machinery and equipment[56] Market Conditions and Strategic Focus - The overall economic environment remains challenging, with ongoing global issues such as the COVID-19 pandemic and geopolitical tensions impacting market conditions[39] - The OEM business is facing challenges due to reduced product demand from clients, leading to weak sales performance in 2023[69] - The "Youyou Mami" brand is positioned in the high-end infant market in China, but sales are negatively impacted by fierce local competition and declining birth rates[70] - The group is focusing on expanding its global customer base and enhancing production capacity to diversify its product offerings, particularly in the OEM business[40] - The group is exploring better utilization of online sales platforms to align with the growing trend of e-commerce in China[40] - The company is exploring potential acquisition targets globally to achieve production synergies and accelerate business development[71] Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions as of December 31, 2023[80] - The financial data for the year ending December 31, 2023, has been reviewed by the audit committee and verified by PwC, although it does not constitute an audit under Hong Kong auditing standards[81] - The annual performance announcement and annual report will be published on the Hong Kong Stock Exchange and the company's website at an appropriate time[83] Employee and Shareholder Matters - The group employed 626 full-time employees as of December 31, 2023, a decrease from 666 employees in the previous year, primarily due to reduced production needs[65] - The company granted 6,000,000 share options to directors, senior management, and employees as recognition for their contributions[66] - The company plans to distribute a final dividend of 3 HKD per share, consistent with the previous year, totaling HKD 6,000,000[29] - The board proposed a final dividend of HKD 0.03 per ordinary share, totaling approximately HKD 12 million, consistent with the previous year[74]

Financial Performance - For the six months ended June 30, 2023, the company's revenue was HKD 113.2 million, a decrease of approximately 29.8% compared to HKD 161.2 million for the same period in 2022[6]. - The gross profit for the same period was HKD 37.0 million, with a gross margin of 32.7%, compared to a gross profit of HKD 50.5 million and a gross margin of 31.3% in the previous year[15]. - The operating profit for the six months ended June 30, 2023, was HKD 14.4 million, down from HKD 22.3 million in the same period of 2022[6]. - The net profit attributable to equity holders was HKD 9.1 million, compared to HKD 12.9 million in the previous year, reflecting a decline of approximately 29.5%[6]. - The OEM business generated revenue of approximately HKD 106.7 million, a decrease of about 29.1% from HKD 150.6 million in the same period last year[13]. - The "Youyou Monkey" business recorded revenue of approximately HKD 6.5 million, down approximately 39.1% from HKD 10.6 million in the previous year[14]. - The overall comprehensive income for the six months was HKD 4,454,000, down 39.5% from HKD 7,328,000 in the previous year[46]. - The company reported a net profit of HKD 9,063,000 for the six months ended June 30, 2023, compared to HKD 12,947,000 for the same period in 2022, a decrease of 30%[53]. Cost and Expenses - Sales expenses for the six months ended June 30, 2023, were approximately HKD 4.8 million, a decrease of about HKD 3.7 million or 43.7% compared to HKD 8.4 million for the same period in 2022[16]. - Administrative expenses for the six months ended June 30, 2023, were approximately HKD 19.1 million, a decrease of about HKD 2.6 million, representing 16.9% of total revenue, up from 13.5% in the same period last year[18]. - Other income and gains for the six months ended June 30, 2023, were approximately HKD 1.2 million, down from HKD 2.1 million for the same period in 2022[19]. - The total expense for share-based payments recognized for the period ended June 30, 2023, was HKD 268,000, a decrease from HKD 683,000 in 2022[19]. Economic Challenges - The company continues to face challenges due to weak economic performance, inflation, and geopolitical uncertainties affecting customer demand and order levels[10]. - The company anticipates challenges ahead due to ongoing geopolitical tensions and high inflation affecting market recovery[36]. - The OEM business performance is heavily reliant on the U.S. market, which is currently constrained by various negative economic factors[36]. - The "Youyou Mami" business is facing challenges from local competition and a shift in consumer purchasing habits from offline to online[37]. Cash Flow and Assets - Cash and cash equivalents as of June 30, 2023, were approximately HKD 146.4 million, an increase from HKD 134.8 million as of December 31, 2022[24]. - The group recorded foreign exchange gains of approximately HKD 0.6 million for the six months ended June 30, 2023, compared to HKD 0.4 million in the same period last year[27]. - Total assets as of June 30, 2023, amounted to HKD 241,106,000, a decrease of 3.4% from HKD 249,286,000 as of December 31, 2022[48]. - Non-current assets decreased to HKD 35,981,000 from HKD 43,860,000, representing a decline of 18%[48]. - Current assets remained stable at HKD 205,125,000, slightly down from HKD 205,426,000[48]. - Total liabilities decreased to HKD 40,570,000 from HKD 41,472,000, a reduction of 2.2%[51]. - Operating cash flow for the six months ended June 30, 2023, was HKD 26,155,000, up from HKD 21,450,000, indicating a growth of 21%[55]. Shareholder Information - The ownership structure shows that Mr. Zhong and Mr. Zhou each hold 75,000,000 shares, representing 37.5% of the company[103]. - Major shareholders include L.V.E.P. Holdings and Ching Wai Holdings, each holding 75,000,000 shares, equating to 37.5%[109]. - The spouse of Mr. Zhou holds an additional 75,200,000 shares, representing 37.6% of the company[109]. - The company confirmed that there were no other interests or short positions held by directors or senior management as of June 30, 2023[107]. Corporate Governance - The audit committee has reviewed the unaudited condensed consolidated interim financial information for the six months ended June 30, 2023, and recommended its approval to the board[131]. - The company has adopted and complied with the corporate governance code as per the listing rules for the six months ended June 30, 2023[130]. - The audit committee consists of all independent non-executive directors, ensuring oversight of financial reporting and risk management[122]. - The remuneration committee is responsible for reviewing and approving management's compensation proposals, ensuring no director participates in determining their own remuneration[123]. - The nomination committee is tasked with recommending appointments of directors and senior management to the board[124].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不就因本公告全部或任何部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。 MS GROUP HOLDINGS LIMITED 萬 成 集 團 股 份 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1451） 截至二零二三年六月三十日止六個月之 中期業績公告 主要財務資料及比率（未經審核） 截至六月三十日止六個月 二零二三年 二零二二年 收益 千港元 113,163 161,192 毛利 千港元 37,047 50,456 毛利率 % 32.7% 31.3% 經營溢利 千港元 14,386 22,347 權益持有人應佔溢利 千港元 9,063 12,947 每股基本盈利 港仙 4.53 6.47 每股中期股息 港仙 無 無 ...

Financial Performance - Total revenue for the year ended December 31, 2022, decreased by approximately 11.4% to HKD 260,142,000 from HKD 293,746,000 in 2021[9] - The net profit attributable to shareholders decreased by approximately HKD 1,607,000 or about 10.4% to HKD 13,805,000 for the year ended December 31, 2022, compared to HKD 15,412,000 in 2021[13] - The gross profit for the year was HKD 79,797,000, down from HKD 86,341,000 in 2021, reflecting the impact of reduced sales[9] - The group's revenue for the year ended December 31, 2022, was approximately HKD 260.1 million, a decrease of about 11.4% compared to HKD 293.7 million in the previous year[19] - Revenue from the OEM business was approximately HKD 241.1 million, down about 8.3% from HKD 262.9 million the previous year, primarily due to a conservative order placement from clients amid an unstable macroeconomic environment[20] - The YoYo Ma business recorded revenue of approximately HKD 19.0 million, a significant decrease of about 38.4% from HKD 30.9 million the previous year, mainly due to COVID-19 restrictions in China[21] - The group's gross profit for the year was approximately HKD 79.8 million, with a gross profit margin of about 30.7%, compared to HKD 86.3 million and a margin of 29.4% in the previous year[22] Operational Challenges - The OEM business continued to be the main source of revenue and profit, despite a decrease in sales orders due to a challenging global economic environment[12] - The company anticipates continued challenges and uncertainties for both the OEM and Youyou Monkey businesses in the upcoming period due to global issues such as COVID-19 and geopolitical tensions[15] - The company anticipates ongoing challenges in its OEM and Youyou Mami businesses due to factors such as global inflation, COVID-19, and declining birth rates in China[47] - The OEM business faced weak performance in 2022, attributed to reduced product demand from two major clients[49] - The Youyou Mami business targets the mid-to-high-end infant market in China, but sales were negatively impacted by regional lockdowns due to COVID-19[50] - The birth rate in China has dropped to a record low of 6.77 per 1,000 people, which may further weaken future growth in the industry[50] Cost Management - Selling expenses decreased by approximately 30.5% to about HKD 13.3 million from HKD 19.1 million, mainly due to reduced transportation costs and lower promotional expenses[23] - Administrative expenses increased by about 10.0% to approximately HKD 41.2 million from HKD 37.4 million, primarily due to higher personnel costs and increased impairment losses[24] - The company has maintained net profit through revenue expansion and cost control despite adverse industry conditions during the pandemic[51] Assets and Liabilities - Total assets as of December 31, 2022, were HKD 249,286,000, a decrease from HKD 255,771,000 in 2021[9] - Total liabilities decreased to HKD 41,472,000 in 2022 from HKD 52,691,000 in 2021, indicating improved financial stability[9] - As of December 31, 2022, the group's cash and cash equivalents were approximately HKD 134.8 million, an increase of about HKD 11.6 million from HKD 123.2 million the previous year[31] Employee Management - Employee count decreased to 666 full-time employees as of December 31, 2022, down from 740 in the previous year, primarily due to reduced production needs[45] - Employee benefits expenses for the year were approximately HKD 73.9 million, compared to HKD 76.6 million in the previous year[45] - The company is committed to providing a fair and non-discriminatory work environment, protecting employees from various forms of discrimination[190] - The company offers competitive compensation packages, including basic salary, discretionary bonuses, and various benefits to attract and retain talent[191] - The employee composition includes 216 full-time long-term male employees and 96 full-time long-term female employees[198] Corporate Governance - The board consists of four executive directors and three independent non-executive directors, ensuring a balanced composition with diverse knowledge and experience to drive the company's operations and development[79] - The company has adopted the principles of the corporate governance code and complied with its provisions as of December 31, 2022[73] - The management structure and risk management processes are designed to ensure proper oversight of all business operations and decision-making procedures[72] - The board is responsible for formulating the company's business strategy and management policies, as well as monitoring operational performance[79] - The board has adopted a dividend policy, allowing for dividends to be declared based on general business conditions, financial performance, and capital requirements[90] Environmental, Social, and Governance (ESG) Initiatives - The group identified 21 significant ESG issues categorized into four areas: environment, employment and labor practices, operational practices, and community[149] - The group emphasizes the importance of sustainable development and integrates ESG factors into its operations to create sustainable value for stakeholders[140] - The company aims to maintain or reduce its emission levels during the reporting period in 2023[156] - The company has achieved a reduction in air pollutant emissions, with nitrogen oxides (NOx) decreasing from 65.39 kg in 2021 to 55.78 kg in 2022, a reduction of approximately 14%[160] - The total greenhouse gas emissions decreased by about 20% from 6,309 tons in 2021 to 5,076 tons in 2022[162] Risk Management - The company has established a robust risk management and internal control framework to ensure prudent and effective governance[77] - The audit committee assists the board in evaluating the effectiveness of the risk management and internal control system as of December 31, 2022, and considers it effective and adequate[118] - The company has identified climate-related physical risks and disaster recovery plan effectiveness as significant environmental, social, and governance risks during the risk assessment process[181] - The company employs a business contingency plan to prepare for unforeseen climate-related disasters, aiming to reduce operational and supply chain impacts[181]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不就因本公告全部或任何部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。 MS GROUP HOLDINGS LIMITED 萬 成 集 團 股 份 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1451） 截至二零二二年十二月三十一日止年度 全年業績公告 萬成集團股份有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然呈報本公司及其附屬公 司（統稱「本集團」）截至二零二二年十二月三十一日止年度的經審核年度綜合財務業績，連 同二零二一年同期的比較數字，載列如下： 綜合收益表 截至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 千港元 千港元 收益 2 260,142 293,746 銷售成本 (180,345) (207,405) 毛利 79,797 86,341 銷售開支 (13,301) (19,137) 行政開支 (41,154) (37,403) 其他收入 4 2,666 333 其他虧損淨額 5 (341) (893) ...