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所產生或因依賴該等內容而引致的任何損 失承擔任何責任。 FOURACE INDUSTRIES GROUP HOLDINGS LIMITED 科 利 實 業 控 股 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1455） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 年 度 的 全 年 業 績 公 告 財務摘要 • 截至二零二三年三月三十一日止年度（「二零二三年財政年度」或「報 告期間」）的收益較截至二零二二年三月三十一日止年度（「二零二二 年財政年度」）的約473.4百萬港元減少22.8%至約365.6百萬港元。 • 二 零 二 三 年 財 政 年 度 的 毛 利 減 少6.5%至 約112.4百 萬 港 元（二 零 二 二 年財政年度：約120.2百萬港元）。於二零二三年財政年度，毛利率增 加5.3個百分點至30.7%（二零二二年財政年度：25.4%）。 • 二 零 二 三 年 財 政 年 度 的 本 公 司 權 益 持 ...

Financial Performance - For the six months ended September 30, 2022, the company reported revenue of HKD 226,357,000, an increase of 3.4% compared to HKD 218,180,000 for the same period in 2021[19] - Gross profit for the same period was HKD 65,810,000, representing a gross margin of approximately 29.1%, up from HKD 56,626,000 in the previous year[19] - The company achieved a net profit of HKD 40,679,000, which is a 54.2% increase from HKD 26,384,000 in the prior year[16] - The overall comprehensive income for the period was HKD 30,299,000, compared to HKD 27,638,000 in the previous year, reflecting a positive trend[21] - The group reported a net profit attributable to shareholders of HKD 40,679,000 for the six months ended September 30, 2022, compared to HKD 26,384,000 in 2021, reflecting an increase of approximately 54.3%[63] - Basic earnings per share rose to HKD 3.2 for the six months ended September 30, 2022, compared to HKD 2.1 in the previous year, indicating a growth of approximately 52.4%[63] Assets and Equity - Total assets as of September 30, 2022, were HKD 452,695,000, a decrease from HKD 470,034,000 as of March 31, 2022[24] - The company's total equity increased to HKD 377,177,000 from HKD 364,783,000, reflecting a growth of 3.4%[24] - The company's retained earnings as of September 30, 2022, were HKD 280,451,000, an increase from HKD 227,705,000 as of September 30, 2021[30] - The company’s total equity as of September 30, 2022, was HKD 377,177,000, compared to HKD 328,249,000 as of September 30, 2021, reflecting growth in shareholder equity[30] Cash Flow and Liquidity - Cash and cash equivalents rose significantly to HKD 234,168,000 from HKD 172,229,000, indicating a strong liquidity position[24] - For the six months ended September 30, 2022, the net cash generated from operating activities was HKD 89,593,000, compared to HKD 15,945,000 for the same period in 2021, representing a significant increase[33] - Cash and cash equivalents increased by HKD 62,344,000 during the period, rising from HKD 172,229,000 at the beginning to HKD 234,168,000 at the end[33] - The company incurred a net cash outflow from investing activities of HKD 5,890,000, compared to HKD 8,283,000 in the prior year[33] Operational Efficiency - The company reported a decrease in trade receivables to HKD 43,179,000 from HKD 89,210,000, suggesting improved collection efficiency[24] - Employee costs decreased by 17.3% or HKD 8.0 million due to operational streamlining and reduction of non-essential staff[75] - The total expenses for the six months ended September 30, 2022, were HKD 184,815,000, slightly down from HKD 186,674,000 in the same period of 2021, showing a decrease of approximately 1.0%[59] Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18] - The company plans to launch its own brand of beauty devices and smart toilets in the mainland China market in the first and second halves of 2023, respectively, to drive revenue growth[76] - The group’s revenue for personal care appliances reached HKD 222,835,000 for the six months ended September 30, 2022, compared to HKD 207,906,000 for the same period in 2021, representing an increase of approximately 7.0%[50] Foreign Exchange and Other Income - The group experienced a foreign exchange gain of HKD 6,153,000 for the six months ended September 30, 2022, compared to a loss of HKD 126,000 in the same period of 2021[54] - The company confirmed a foreign exchange gain of approximately HKD 6.2 million during the reporting period, attributed to the depreciation of the RMB against the USD[75] - The group recorded a net gain of HKD 6,411,000 from other income for the six months ended September 30, 2022, compared to a loss of HKD 126,000 in the same period of 2021[54] Corporate Governance and Compliance - The company has maintained compliance with the corporate governance code throughout the reporting period[120] - The audit committee, consisting of three independent non-executive directors, has reviewed the interim financial information and found it compliant with applicable accounting standards[130] - The company confirms that its major shareholders do not have interests in competing businesses[126] Shareholder Information - As of September 30, 2022, the board and senior management held significant interests in the company, with Mr. Li Shuye owning approximately 36.7% of the shares[107][110] - Ace Champion holds 468,750,000 shares, representing 36.7% of the company's issued share capital[113] Future Outlook - The company will continue to monitor industry developments and review its business expansion plans regularly[95] - Forward-looking statements in the report cannot be guaranteed to be achieved or accurate, and stakeholders are advised to exercise caution[129]

Financial Performance - The company reported revenue of approximately HKD 473.4 million for the fiscal year ending March 31, 2022, representing an increase of 8.2% year-on-year[9]. - Profit attributable to equity holders increased by 2.8% to approximately HKD 59.7 million, compared to HKD 58.1 million in the previous fiscal year[9]. - The gross profit decreased by approximately HKD 7.8 million or 6.1% to about HKD 120.2 million, with the gross margin declining by 3.9 percentage points to 25.4% due to rising raw material costs and the appreciation of the Renminbi against the US dollar[26]. - The net profit attributable to equity holders increased by approximately HKD 1.6 million or 2.8% to about HKD 59.7 million, with the net profit margin decreasing by 0.7 percentage points to 12.6%[30]. - The total employee cost for the group during the reporting period was approximately HKD 96.4 million, an increase from HKD 81.5 million in the previous fiscal year[45]. - The administrative expenses decreased by approximately HKD 4.2 million or 10.1% to about HKD 37.4 million, mainly due to the absence of listing expenses recorded in the previous fiscal year[27]. Sales and Market Performance - The company's hair care product sales in the US and Japan grew by 13.6% and 8.5% respectively during the reporting period[10]. - In the fiscal year 2022, the group's total revenue increased by approximately HKD 36.0 million or 8.2% to about HKD 473.4 million, primarily driven by a sales increase of HKD 70.1 million in personal care appliances, particularly hair care products[25]. - The sales of hair care products increased by 20.2% to HKD 416.2 million, while sales of grooming products decreased by 31.3% to HKD 30.5 million, and beauty products saw a significant decline of 85.7% to HKD 3.3 million[17]. - The group reported a geographical revenue breakdown with the US accounting for 49.4% of sales, Japan at 38.9%, Europe at 6.7%, and other regions at 5.0%[20]. Product Development and Launches - The company plans to launch its smart toilet product in mainland China by the second quarter of 2023, which is currently undergoing quality and technical testing[10]. - A new beauty product under the company's own brand has completed technical validation and is in the design phase, with an expected launch in mainland China by the first quarter of 2023[11]. - The group plans to launch its own brand of smart toilet machines and beauty devices in mainland China in the first and second quarters of 2023, respectively, aiming to capture market opportunities and drive revenue growth[21]. - The company continues to invest in R&D to enhance product quality and reduce operational costs[10]. Challenges and Risks - The company is facing challenges such as supply chain disruptions, raw material shortages, and rising costs due to the COVID-19 pandemic[10]. - The company does not participate in any currency hedging activities, exposing it to foreign exchange risks that could adversely affect its operating costs and financial condition[39]. Corporate Governance - The audit committee consists of three independent non-executive directors as of March 31, 2022, ensuring compliance with corporate governance codes[157]. - The company has established an audit committee, remuneration committee, and nomination committee to assist the board in fulfilling its responsibilities[185]. - The board consists of six members, including three executive directors and three independent non-executive directors[181]. - The company has maintained compliance with all corporate governance code provisions, except for a deviation regarding the roles of the chairman and CEO[164]. Shareholder Information - The board proposed a final dividend of HKD 0.015 per share, down from HKD 0.038 per share in the previous fiscal year, subject to shareholder approval[47]. - The board is unaware of any shareholders waiving or agreeing to waive their dividend rights as of the report date[81]. - The company has not entered into any management or administrative contracts concerning any significant part of its business as of March 31, 2022[125]. Future Outlook - Overall, the company remains optimistic about future growth, with a long-term vision to achieve a revenue target of $M million by 2025[61]. - The company provided guidance for the next quarter, expecting revenue to be between $A million and $B million, indicating a growth rate of C%[61]. - New product launches are anticipated to contribute an additional $D million in revenue, with a focus on innovative technology in the upcoming year[61].

Financial Performance - For the six months ended September 30, 2021, the company reported revenue of HKD 218,180,000, an increase of 8.5% compared to HKD 201,159,000 for the same period in 2020[11] - Gross profit for the same period was HKD 56,626,000, down 9.5% from HKD 62,425,000 year-on-year[11] - The company recorded a net profit of HKD 26,384,000, a decrease of 2.8% from HKD 27,140,000 in the previous year[11] - Total revenue for the six months ended September 30, 2021, was HKD 218,180,000, an increase of 8.9% compared to HKD 201,159,000 for the same period in 2020[33] - Net profit attributable to equity holders decreased by approximately HKD 0.7 million (about 2.6%) to approximately HKD 26.4 million, resulting in a net profit margin decline to 12.1% from 13.5%[73] Assets and Liabilities - Total assets as of September 30, 2021, amounted to HKD 447,219,000, an increase from HKD 427,134,000 as of March 31, 2021[12] - Current assets increased to HKD 326,043,000 from HKD 308,306,000, driven by higher inventory and trade receivables[12] - The company’s total liabilities increased to HKD 118,970,000 from HKD 79,676,000, primarily due to higher trade payables[15] - Trade payables totaled HKD 81,913,000 as of September 30, 2021, compared to HKD 44,910,000 as of March 31, 2021, indicating a significant increase in liabilities[51] Cash Flow and Dividends - For the six months ended September 30, 2021, the company reported a net cash inflow from operating activities of HKD 17,575,000, compared to a net cash outflow of HKD 9,873,000 for the same period in 2020[21] - The company paid dividends amounting to HKD 47,500,000 during the period[21] - The company’s cash and cash equivalents decreased by HKD 41,754,000, resulting in a closing balance of HKD 124,292,000 as of September 30, 2021[21] Operational Highlights - The company plans to focus on market expansion and new product development in the upcoming quarters[11] - Research and development expenses were HKD 4,092,000, reflecting the company's commitment to innovation despite a challenging market[11] - The company incurred capital expenditures of HKD 8,283,000 for the purchase of property, plant, and equipment during the period[21] - The company is upgrading production facilities to enhance automation and increase production capacity, aiming for stable business growth[65] Shareholder Information - Ace Champion Inc. holds 468,750,000 shares, representing 37.5% of the company's issued share capital[112] - 永金有限公司 also holds 468,750,000 shares, accounting for 37.5% of the issued share capital[113] - 薛可雲女士 has controlled corporation interests in 468,750,000 shares, which is 37.5% of the total[110] - 陳盼盼女士, as the spouse of 李舒野先生, is deemed to have interests in 468,750,000 shares, equating to 37.5%[115] Corporate Governance - The company has complied with the corporate governance code during the reporting period, with no deviations noted[118] - The roles of Chairman and CEO are held by 李舒野先生, with no current plans to separate these roles despite corporate governance recommendations[118] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim financial information and found it compliant with applicable accounting standards and listing rules[127]

Financial Performance - The company reported a revenue of approximately HKD 437.4 million for the fiscal year ending March 31, 2021, representing a year-on-year increase of 20.8%[11] - Profit attributable to equity holders increased significantly by 33.9% to approximately HKD 58.1 million, compared to HKD 43.4 million in the previous fiscal year[11] - Total revenue increased by approximately HKD 75.3 million (20.8%) from approximately HKD 362.1 million in the fiscal year 2020 to approximately HKD 437.4 million in the fiscal year 2021, primarily driven by sales growth in personal care appliances, particularly the hair care and beauty series[36] - Gross profit increased by approximately HKD 19.2 million (17.6%) to approximately HKD 128.0 million, with a slight decrease in gross margin by 0.7 percentage points to 29.3%[36] - Profit attributable to equity holders increased by approximately HKD 14.7 million (33.9%) to about HKD 58.1 million in the fiscal year 2021, with a net profit margin rising from 12.0% to 13.3%[40] - Cash and bank balances increased to approximately HKD 166.0 million as of March 31, 2021, compared to approximately HKD 56.4 million as of March 31, 2020, primarily due to net proceeds from a global offering of about HKD 66.2 million and an increase in total revenue of approximately HKD 75.3 million[44] Product Development and Market Strategy - The company plans to launch its self-branded product "iHA" smart toilet lid in mainland China in 2022, following the completion of technical verification[12] - The company aims to strengthen its position in the home appliance market by investing resources in its self-branded products while continuing its ODM business model[12] - The company plans to launch its own brand of smart toilet lids targeting the high-end market in mainland China, with the product expected to be officially launched in 2022[21] - The company is focusing on developing new products while maintaining existing orders to ensure stable business growth[31] - The company is actively seeking to expand and diversify its business to create new revenue sources and enhance returns for shareholders[32] - The company is focused on expanding its market presence and enhancing its product offerings through new technology and product development initiatives[60] Operational Challenges and Cost Management - The company has faced increased operating costs due to supply chain challenges, raw material shortages, and rising prices, but remains confident in maintaining profitability[12] - Administrative expenses decreased by approximately HKD 1.9 million (4.4%) to about HKD 41.6 million in the fiscal year 2021, compared to approximately HKD 43.5 million in the fiscal year 2020[37] - Financing costs recorded during the reporting period were HKD 74,000, a significant decrease from approximately HKD 245,000 in the fiscal year 2020[38] - Income tax expenses increased by approximately HKD 2.1 million (17.9%) to about HKD 13.8 million in the fiscal year 2021, compared to approximately HKD 11.7 million in the fiscal year 2020[39] Market Performance - The hair care series revenue grew by 15.7% to HKD 346,114 thousand, while the beauty series revenue surged by 1,697.1% to HKD 23,326 thousand, mainly due to increased demand for beauty care products in the Japanese market[26] - The company experienced a 42.7% year-on-year sales growth in the Japanese market, with its sales proportion increasing by 6 percentage points to 38.9%[27] - The personal care appliances segment accounted for a subtotal revenue of HKD 413,756 thousand, representing a 22.9% increase compared to the previous fiscal year[26] - The lifestyle appliances segment reported a revenue decline of 24.9% to HKD 4,330 thousand[26] Corporate Governance and Management - The company has a strong management team with extensive experience, including Ms. Tang Shuyi, who has over 30 years in the personal care appliance industry and has been with the group since 1988[62] - The independent non-executive director, Mr. Liao Qiyu, has over 20 years of experience in corporate finance, accounting, and auditing, providing independent opinions to the board[64] - The board of directors includes members with diverse backgrounds in engineering, finance, and management, ensuring a well-rounded approach to corporate governance[64] - The company has established appropriate directors and officers liability insurance for its directors and senior officers[118] - The company has a history of appointing experienced professionals to key management positions to enhance its operational efficiency[75] Shareholder Returns and Dividends - The company declared a final dividend of HKD 0.038 per share[11] - The board proposed a final dividend of HKD 0.038 per share for the fiscal year 2021, compared to no dividend in the fiscal year 2020[55] - The group reported a proposed final dividend of HKD 0.038 per share, subject to shareholder approval at the annual general meeting on August 9, 2021[86] Future Plans and Investments - The net proceeds from the global offering amounted to approximately HKD 66.2 million after deducting underwriting fees and expenses[19] - The net proceeds from the global offering amount to approximately HKD 66.2 million, with 54.5% allocated for expanding and upgrading production facilities, totaling HKD 36.1 million[166] - 24.8% of the net proceeds, amounting to HKD 16.4 million, is designated for enhancing research and engineering capabilities, expected to be utilized by March 2023[166] - The company plans to introduce new products under its brand "他別," with 12.9% of the net proceeds, equating to HKD 8.5 million, allocated for this purpose, expected by September 2022[166] Compliance and Risk Management - The company has complied with all provisions of the Corporate Governance Code since its listing, except for the separation of the roles of Chairman and CEO, which is currently held by Mr. Li Shuye[183] - The audit committee, consisting of three independent non-executive directors, has reviewed the group's accounting principles and internal controls for the fiscal year ending March 31, 2021[176] - The company will review its corporate governance policies and compliance with the Corporate Governance Code annually[186] - The company ensures that all directors are informed of the matters to be discussed in meetings they cannot attend, maintaining transparency[196]

Financial Performance - Revenue for the six months ended September 30, 2020, was HKD 201,159,000, representing an increase of 4.1% compared to HKD 193,172,000 for the same period in 2019[9] - Gross profit for the same period was HKD 62,425,000, up from HKD 56,920,000, indicating a gross margin improvement[9] - Operating profit increased to HKD 33,984,000 from HKD 31,738,000, reflecting a growth of 7.9% year-over-year[9] - Net profit for the period was HKD 27,140,000, compared to HKD 24,534,000 in the previous year, marking an increase of 10.5%[9] - The company reported a basic and diluted earnings per share of HKD 2.8, up from HKD 2.6 in the previous year[9] - The company reported a net profit attributable to shareholders of HKD 27,140,000 for the six months ended September 30, 2020, compared to HKD 24,534,000 for the same period in 2019, representing an increase of 10.5%[43] - Basic earnings per share increased to HKD 2.8 from HKD 2.6, reflecting improved profitability[43] Assets and Liabilities - Total assets as of September 30, 2020, amounted to HKD 435,122,000, significantly higher than HKD 270,260,000 as of March 31, 2020[12] - Total liabilities increased to HKD 121,171 thousand as of September 30, 2020, compared to HKD 77,776 thousand as of March 31, 2020, representing a growth of 55.8%[14] - Trade payables rose significantly to HKD 76,711 thousand from HKD 44,051 thousand, marking an increase of 74.1%[14] - Trade receivables as of September 30, 2020, amounted to HKD 101,041,000, significantly higher than HKD 34,211,000 as of March 31, 2020[46] Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 140,433,000 from HKD 56,420,000, showing a strong liquidity position[12] - The net cash flow from operating activities was negative at HKD (11,949) thousand for the six months ended September 30, 2020, compared to a positive cash flow of HKD 8,435 thousand for the same period in 2019[19] - The company incurred a net cash outflow from investing activities of HKD (3,511) thousand, a decrease from HKD (13,189) thousand in the previous year, showing an improvement of 73.4%[19] - Cash and bank balances increased to approximately 140.4 million HKD as of September 30, 2020, from approximately 56.4 million HKD as of March 31, 2020, mainly due to net proceeds of 66.2 million HKD from the global offering[66] Equity and Shareholder Information - The total equity attributable to owners increased to HKD 313,951 thousand as of September 30, 2020, compared to HKD 192,484 thousand as of March 31, 2020, representing a growth of 63.0%[17] - The company did not declare any interim dividend for the six months ended September 30, 2020, consistent with the previous year[45] - Ace Champion Inc. has a total of 468,750,000 shares, representing approximately 37.5% of the company's issued share capital as of September 30, 2020[92] - Major shareholders include Ace Champion, 永金有限公司, 薛可雲女士, 陳盼盼女士, and 盧建權先生, each holding 468,750,000 shares, equating to 37.5% ownership[90] Operational Insights - The company’s operating segment is focused on the production and sale of household appliances, with no separate operating segments identified[31] - Personal care appliances generated revenue of HKD 191,524,000, up from HKD 182,023,000, with hair care series contributing HKD 24,232,000 and beauty series contributing HKD 17,914,000[32] - The company aims to develop new personal care and lifestyle electronic products under its own brand "Extreme" to expand its customer base and enhance profitability[56] Cost Management - Research and development expenses decreased to HKD 3,342,000 from HKD 4,496,000, suggesting a focus on cost management[9] - Administrative expenses decreased by approximately 1.6 million HKD (about 7.0%) to approximately 21.2 million HKD in the first half of 2021[60] - Financing costs decreased significantly to approximately 48,000 HKD in the first half of 2021 from 162,000 HKD in the same period last year[61] Corporate Governance - The roles of Chairman and CEO are held by the same individual, 李舒野, which the company believes provides strong and stable leadership[98] - The company has complied with the corporate governance code since its listing date up to September 30, 2020, with some exceptions noted[98] - The audit committee has been established and consists of three independent non-executive directors, ensuring compliance with listing rules and corporate governance codes[107] Future Outlook and Risks - Approximately 43.3% of the company's sales revenue is exported to the United States, indicating potential risks from increased tariffs on Chinese goods[55] - The company is actively seeking overseas non-China manufacturing partners to mitigate risks associated with the ongoing US-China trade tensions[55] - The company emphasizes caution regarding forward-looking statements and advises shareholders and potential investors to seek professional advice[106]