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 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 富一國際控股有限公司 呈交日期: 2025年8月5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) | 01470 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/ ...

智通财经APP讯，富一国际控股(01470)公布截至2025年4月30日止年度的年度业绩，收益为7722.4万港 元，同比增长7.47%;净利541.6万港元，同比增长322.79%;每股盈利0.68港仙。 （原标题：富一国际控股(01470)公布年度业绩 净利541.6万港元 同比增长322.79%） ...

Core Viewpoint - 富一国际控股 (01470.HK) reported a revenue of HKD 77.224 million for the fiscal year ending April 30, 2025, representing a year-on-year increase of 7.5% [1] Financial Performance - The company's gross profit was HKD 22.357 million, which reflects a significant year-on-year decrease of 46.1% [1] - The profit attributable to the company's owners for the year was HKD 5.416 million, compared to HKD 1.281 million in the same period last year [1] - Basic and diluted earnings per share were HKD 0.68 cents [1]

[Performance Highlights](index=1&type=section&id=Annual%20Performance%20Summary) The company achieved a 7.4% revenue growth and a significant increase in annual profit to HK$5.4 million in FY2025, with no dividends proposed FY2025 Performance Highlights | Metric | Performance | | :--- | :--- | | Revenue Growth | Increased by approximately 7.4% YoY | | Annual Profit | Approximately HK$5.4 million (HK$1.3 million in prior year) | | Dividend | No dividend proposed | [Consolidated Financial Statements](index=2&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements present the company's profit or loss, comprehensive income, and financial position, highlighting significant growth in net profit and cash reserves [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the year ended April 30, 2025, the company reported revenue of HK$77.224 million, a 7.4% increase, with profit attributable to owners significantly rising to HK$5.416 million due to substantial reductions in selling, distribution, and administrative expenses Consolidated Statement of Profit or Loss (For the year ended April 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 77,224 | 71,854 | +7.4% | | Gross Profit | 22,357 | 41,460 | -46.1% | | Selling and Distribution Costs | (9,361) | (21,100) | -55.6% | | Administrative Expenses | (8,134) | (18,015) | -54.9% | | Profit Before Tax | 6,940 | 4,544 | +52.7% | | Profit for the Year Attributable to Owners of the Company | 5,416 | 1,281 | +322.8% | | Earnings Per Share (HK Cents) | 0.68 | 0.16 | +325.0% | [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of April 30, 2025, total assets increased to HK$209 million and total equity to HK$20.424 million, driven by a significant rise in cash and cash equivalents to HK$127 million, while trade and other payables also increased Consolidated Statement of Financial Position Summary (As of April 30) | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | **Assets** | | | | Non-current Assets | 1,751 | 1,768 | | Cash and Cash Equivalents | 127,130 | 65,837 | | Inventories | 7,298 | 4,523 | | Trade and Other Receivables and Prepayments | 72,739 | 100,962 | | **Total Assets** | **208,918** | **173,090** | | **Equity and Liabilities** | | | | Total Equity | 20,424 | 15,371 | | Trade and Other Payables | 142,112 | 110,540 | | Amount Due to Ultimate Holding Company | 46,074 | 46,095 | | **Total Liabilities** | **188,494** | **157,719** | | **Total Equity and Liabilities** | **208,918** | **173,090** | [Notes to the Consolidated Financial Statements](index=4&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed notes on the company's operations, accounting policies, and specific financial statement line items [Company Information and Accounting Policies](index=4&type=section&id=Company%20Information%20and%20Accounting%20Policies) The company, an investment holding entity registered in the Cayman Islands, primarily engages in watch wholesale, compound fertilizer manufacturing and sales, and trading agency for fertilizer-related products, with no significant impact from newly applied HKFRS amendments this year - Company's principal activities include **watch wholesale in Hong Kong**, **compound fertilizer manufacturing and sales in Mainland China**, and **trading agency for fertilizer raw materials and products**[7](index=7&type=chunk) - Newly applied accounting standards concerning sale and leaseback, liability classification, and supplier finance arrangements had **no material impact on the financial statements** after assessment[9](index=9&type=chunk)[10](index=10&type=chunk)[12](index=12&type=chunk) [Revenue](index=6&type=section&id=3.%20Revenue) Total revenue for the year was HK$77.224 million, a 7.4% year-on-year increase, primarily driven by a significant rise in compound fertilizer sales, which offset a substantial decline in commission income Revenue Composition | Revenue Source | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | YoY Change | | :--- | :--- | :--- | :--- | | Sales of Watches | 1,162 | 1,771 | -34.4% | | Sales of Compound Fertilizer | 58,099 | 30,960 | +87.7% | | Service Income | 9 | 10 | -10.0% | | Commission Income | 17,954 | 39,113 | -54.1% | | **Total Revenue** | **77,224** | **71,854** | **+7.4%** | [Segment Information](index=7&type=section&id=4.%20Segment%20Information) The Group's operations are categorized into wholesale, trading, and manufacturing segments, with the manufacturing segment (compound fertilizer) becoming the primary contributor to revenue and profit this year, while most revenue originated from Mainland China Performance by Business Segment (2025) | Segment | Revenue (HK$ Thousand) | Segment (Loss)/Profit (HK$ Thousand) | | :--- | :--- | :--- | | Wholesale (Watches) | 1,171 | (905) | | Trading (Fertilizer Agency) | 17,954 | 7,175 | | Manufacturing (Compound Fertilizer) | 58,099 | 2,342 | | **Total** | **77,224** | **8,612** | Performance by Business Segment (2024) | Segment | Revenue (HK$ Thousand) | Segment (Loss)/Profit (HK$ Thousand) | | :--- | :--- | :--- | | Wholesale (Watches) | 1,781 | (5,361) | | Trading (Fertilizer Agency) | 39,113 | 16,261 | | Manufacturing (Compound Fertilizer) | 30,960 | 1,471 | | **Total** | **71,854** | **12,371** | Revenue by Geographical Location of Customers | Region | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Mainland China | 76,053 | 70,073 | | Hong Kong | 1,171 | 1,781 | | **Total** | **77,224** | **71,854** | [Other Income and Losses Net](index=10&type=section&id=5.%20Other%20Income%20and%20Losses%20Net) Net other income and losses for the year amounted to HK$2.087 million, a slight decrease from HK$2.37 million last year, primarily due to a significant reduction in net exchange gains offset by new commission income from wine sales Other Income and Losses Net Details | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Net Exchange Gain | 55 | 1,939 | | Interest Income | 99 | 281 | | Gain on Disposal of Property, Plant and Equipment | 285 | — | | Commission Income from Sales of Wine | 1,607 | — | | **Total** | **2,087** | **2,370** | [Finance Costs and Profit Before Tax](index=10&type=section&id=6.%20Finance%20Costs%20and%207.%20Profit%20Before%20Tax) Finance costs significantly decreased to HK$9 thousand this year, and profit before tax reached HK$6.94 million, largely attributable to a substantial reduction in total staff costs from HK$18.692 million to HK$9.697 million - Finance costs decreased from **HK$0.171 million to HK$0.009 million**, mainly due to reduced interest on lease liabilities[30](index=30&type=chunk) Profit Before Tax Deductions | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Total Staff Costs | 9,697 | 18,692 | | Freight Costs | 2,079 | 13,646 | | Carrying Amount of Inventories Sold | 53,931 | 30,002 | [Income Tax Expense](index=11&type=section&id=8.%20Income%20Tax%20Expense) Income tax expense for the year was HK$1.524 million, a notable decrease from HK$3.263 million last year, primarily due to a reduction in current tax for China enterprise income tax Income Tax Expense Composition | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Current Tax (China) | 1,512 | 3,440 | | Over-provision in Prior Years (China) | (203) | (166) | | Deferred Tax | 215 | (11) | | **Total** | **1,524** | **3,263** | [Dividends and Earnings Per Share](index=11&type=section&id=9.%20Dividends%20and%2010.%20Earnings%20Per%20Share) The company did not propose or pay any dividends for FY2025 or FY2024, while basic and diluted earnings per share significantly increased to 0.68 HK cents this year, driven by higher net profit - The Board did not recommend the payment of any dividend for the years ended April 30, 2025 and 2024[33](index=33&type=chunk) Earnings Per Share Calculation | Item | 2025 | 2024 | | :--- | :--- | :--- | | Profit Attributable to Owners (HK$ Thousand) | 5,416 | 1,281 | | Weighted Average Number of Ordinary Shares | 800,000,000 | 800,000,000 | | **Basic and Diluted Earnings Per Share (HK Cents)** | **0.68** | **0.16** | [Key Assets and Liabilities](index=12&type=section&id=Key%20Assets%20and%20Liabilities) This year, the Group's prepayments decreased from HK$100 million to HK$72.225 million, mainly for fertilizer raw material purchases, while trade payables significantly increased from HK$15.487 million to HK$70.257 million, and the amount due to the ultimate holding company remained at HK$46.074 million, being unsecured, interest-free, and repayable on demand [Trade and Other Receivables and Prepayments](index=12&type=section&id=11.%20Trade%20and%20Other%20Receivables%20and%20Prepayments) As of April 30, 2025, total trade and other receivables and prepayments amounted to HK$72.739 million, a decrease from HK$100.962 million in the prior year, with prepayments for fertilizer-related product purchases in China constituting the majority Receivables and Prepayments Details | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Trade Receivables | 363 | 545 | | Prepayments | 72,225 | 100,215 | | **Total** | **72,739** | **100,962** | - Trade receivables overdue by more than 90 days amounted to **HK$0.146 million**, which management believes has **significantly reduced credit risk** and requires no provision[38](index=38&type=chunk) [Trade and Other Payables](index=13&type=section&id=12.%20Trade%20and%20Other%20Payables) As of April 30, 2025, total trade and other payables increased to HK$142 million from HK$111 million in the prior year, primarily due to a substantial rise in trade payables from HK$15.487 million to HK$70.257 million, while contract liabilities (customer advances) decreased Trade and Other Payables Details | Item | 2025 (HK$ Thousand) | 2024 (HK$ Thousand) | | :--- | :--- | :--- | | Trade Payables | 70,257 | 15,487 | | Other Accruals and Payables | 33,895 | 36,357 | | Contract Liabilities | 37,960 | 58,696 | | **Total** | **142,112** | **110,540** | - The amount due to the ultimate holding company is approximately **HK$46.074 million**, which is **unsecured, interest-free, and repayable on demand**[43](index=43&type=chunk)[6](index=6&type=chunk) [Management Discussion and Analysis](index=15&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's business and financial performance, liquidity, human resources, and future outlook [Business Review](index=15&type=section&id=Business%20Review) Despite a challenging operating environment with stagnant watch wholesale and significantly reduced fertilizer trading due to price declines and export policy tightening, the Group achieved overall revenue and profit growth by leveraging its compound fertilizer manufacturing and sales business and implementing strict cost controls - Urea export volume significantly decreased by approximately **94.3% year-on-year** due to tightening export policies[45](index=45&type=chunk) - Compound fertilizer trading volume decreased by approximately **45.4% year-on-year**, but increased domestic urea trading volume partially offset the impact[45](index=45&type=chunk) - The compound fertilizer manufacturing business produced **27,486 tons** and sold **26,339 tons** for the year, becoming the primary driver of performance growth[46](index=46&type=chunk) [Financial Review](index=16&type=section&id=Financial%20Review) Total revenue increased by 7.4% to HK$77.2 million this year, primarily driven by an 87.4% growth in compound fertilizer manufacturing and sales revenue, which offset a 54.0% decline in trading business revenue, leading to increased profit before tax and profit attributable to owners despite a 46.0% decrease in gross profit due to significant reductions in operating expenses like freight and staff costs Key Financial Item Changes | Item | 2025 (HK$ Million) | 2024 (HK$ Million) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 77.2 | 71.9 | +7.4% | | Gross Profit | 22.4 | 41.5 | -46.0% | | Selling and Distribution Costs | 9.4 | 21.1 | -55.5% | | Administrative Expenses | 8.1 | 18.0 | -55.0% | | Profit Before Tax | 6.9 | 4.5 | +53.3% | | Profit Attributable to Owners | 5.4 | 1.3 | +315.4% | [Financial Position and Liquidity](index=17&type=section&id=Financial%20Position%20and%20Liquidity) The Group maintains a robust financial position, primarily funded by operating cash flow and loans from its ultimate holding company, with total cash and cash equivalents increasing to HK$127 million at the reporting period end, a current ratio of approximately 1.1 times, and a net cash position without capital gearing - As of April 30, 2025, total cash and cash equivalents were approximately **HK$127.1 million**, a significant increase from **HK$65.8 million** in the prior year[54](index=54&type=chunk) - The current ratio (current assets/current liabilities) remained at approximately **1.1 times** in both years[54](index=54&type=chunk) - The Group maintains a **net cash position**, thus the capital gearing ratio is not applicable[54](index=54&type=chunk) [Human Resources](index=17&type=section&id=Employees%20and%20Remuneration%20Policy) As of April 30, 2025, the Group's total number of employees decreased to 57 from 62, and total remuneration costs significantly declined to approximately HK$9.7 million from HK$18.7 million, reflecting the Group's cost control measures Employee and Remuneration Overview | Item | 2025 | 2024 | | :--- | :--- | :--- | | Number of Employees (Period End) | 57 | 62 | | Total Remuneration Costs (HK$ Million) | 9.7 | 18.7 | [Debts and Charges on Assets](index=18&type=section&id=Debts%20and%20Charges%20on%20Assets) At the reporting period end, the Group had no bank borrowings, asset charges, bank facilities, or financial derivative instruments, indicating a simple financial structure - As of April 30, 2025 and 2024, the Group had **no bank borrowings or any charges on assets**[58](index=58&type=chunk) [Significant Investments and Commitments](index=18&type=section&id=Significant%20Investments%20and%20Capital%20Commitments) At the reporting period end, the Group had no significant investments, major investment plans, significant capital commitments, or significant contingent liabilities - As of April 30, 2025, the Group had **no significant investments, major capital asset plans, significant capital commitments, or significant contingent liabilities**[59](index=59&type=chunk)[60](index=60&type=chunk)[61](index=61&type=chunk)[62](index=62&type=chunk) [Outlook](index=18&type=section&id=Outlook) Looking ahead, domestic fertilizer demand is expected to grow, though prices will fluctuate due to various factors, and environmental policies may increase production costs, while export policies are unlikely to ease in the short term, continuing to impact export business; the Group will focus on strengthening production management, developing environmentally friendly and efficient fertilizer products, and optimizing sales channels to enhance competitiveness - Domestic fertilizer demand is expected to grow, but **export policies are unlikely to ease in the short term**, which will continue to affect export business[64](index=64&type=chunk) - The Group's future strategic focus is on **strengthening production management**, developing **environmentally friendly and high-efficiency fertilizer products**, and **optimizing sales channels**[65](index=65&type=chunk) [Corporate Governance and Other Information](index=18&type=section&id=Corporate%20Governance%20and%20Other%20Information) This section details the company's corporate governance practices, compliance statements, and other relevant shareholder information [Annual General Meeting and Dividends](index=19&type=section&id=Annual%20General%20Meeting%20and%20Dividends) The Board has resolved not to recommend any final dividend for the year, and the company's upcoming Annual General Meeting is expected to be held on October 17, 2025 - The Board does not recommend the payment of any final dividend for the year ended April 30, 2025[63](index=63&type=chunk) - The Annual General Meeting is expected to be held on **October 17, 2025**[66](index=66&type=chunk) [Compliance Statement](index=19&type=section&id=Compliance%20Statement) During the year, the company and its directors complied with the Model Code for Securities Transactions by Directors of Listed Issuers, did not purchase, sell, or redeem any listed securities, and maintained sufficient public float - All Directors confirmed compliance with the **Model Code for Securities Transactions by Directors of Listed Issuers** throughout the year[69](index=69&type=chunk) - The company did not repurchase any securities during the year and maintained a **sufficient public float** as required by the Listing Rules[70](index=70&type=chunk)[72](index=72&type=chunk) [Corporate Governance Practices](index=20&type=section&id=Corporate%20Governance%20Practices) The company has adopted and largely complied with the Corporate Governance Code, with three deviations: the Board did not meet quarterly, the Chairman and Chief Executive Officer roles are combined, and the Chairman was unable to attend the 2024 AGM - Deviation from Code Provision C.5.1: The Board held **two regular meetings** during the year, not quarterly, due to the Group's relatively simple operations[74](index=74&type=chunk) - Deviation from Code Provision C.2.1: Mr. Liu Guoqing holds both Chairman and Chief Executive Officer roles, which the Board believes enhances management efficiency[75](index=75&type=chunk) - Deviation from Code Provision F.2.2: The Chairman was **unable to attend the 2024 Annual General Meeting** due to business commitments[76](index=76&type=chunk) [Audit Committee Review](index=21&type=section&id=Audit%20Committee%20Review%20of%20Annual%20Results) The Audit Committee has reviewed the Group's annual results and audited consolidated financial statements, deeming them prepared in compliance with applicable accounting standards and Listing Rules with adequate disclosures, and the independent auditor, Fan Chan & Co. CPA Limited, confirmed consistency with the audited statements - The Audit Committee has reviewed the **audited consolidated financial statements and annual results** for the year[77](index=77&type=chunk) - Independent auditor Fan Chan & Co. CPA Limited confirmed that the financial data in this announcement is **consistent with the amounts in the audited consolidated financial statements**[78](index=78&type=chunk)

Group 1 - The article provides a list of companies listed on the Hong Kong stock market along with their dividend distribution dates and shareholder meeting dates [1][4][5] - Notable companies mentioned include China Railway, Green Town China, and Budweiser APAC, which are scheduled for dividend payments [4][5] - The document outlines various companies' actions regarding capital increases and dividend distributions, indicating ongoing corporate activities in the market [4][5]

Company Overview - 富一国际控股有限公司, formerly known as 滴达国际控股有限公司, was established in 2014 and listed in 2015. The company primarily engages in the sales of high-end bio-fertilizers, chemical fertilizer raw materials (including coal), various fertilizer-related products, and consumer goods such as clothing, footwear, watches, and mobile accessories [2]. Financial Performance - As of October 31, 2024, 富一国际控股 reported total revenue of 40.76 million yuan, representing a year-on-year growth of 98.89% [1]. - The net profit attributable to shareholders was 1.51 million yuan, showing a significant increase of 161.63% year-on-year [1]. - The gross profit margin stood at 24.68%, while the debt-to-asset ratio was 87.74% [1]. Stock Performance - As of July 22, the stock price of 富一国际控股 was 0.076 HKD per share, reflecting an increase of 11.76% with a trading volume of 1.108 million shares and a turnover of 80,100 HKD [1]. - Over the past month, the stock has gained 15.25%, and year-to-date, it has risen by 30.77%, outperforming the Hang Seng Index, which increased by 24.6% [1]. Valuation Metrics - The current price-to-earnings (P/E) ratio of 富一国际控股 is 9.71, ranking 17th in the industry, compared to the average P/E ratio of 21.33 for the raw materials sector [1]. - Other companies in the same sector have significantly lower P/E ratios, such as 骏东控股 at 0.72, 大成生化科技 at 0.99, and 中木国际 at 1.75 [1]. Upcoming Events - The company is scheduled to disclose its annual report for the fiscal year 2024 on July 31, 2025 [3].

Group 1 - The core viewpoint of the news highlights the recent performance and financial results of Fu Yi International Holdings, indicating a significant increase in revenue and profit, despite underperforming compared to the Hang Seng Index [1][2]. - As of July 16, the Hang Seng Index decreased by 0.29%, closing at 24,517.76 points, while Fu Yi International Holdings' stock price rose by 11.48% to HKD 0.068, with a trading volume of 456,000 shares and a turnover of HKD 30,900 [1]. - Over the past month, Fu Yi International Holdings has seen a cumulative increase of 22%, and a year-to-date increase of 17.31%, which is lower than the Hang Seng Index's increase of 22.58% [1]. Group 2 - Financial data shows that for the fiscal year ending October 31, 2024, Fu Yi International Holdings achieved total revenue of HKD 40.76 million, representing a year-on-year growth of 98.89%, and a net profit attributable to shareholders of HKD 1.51 million, up 161.63% [1]. - The company's gross profit margin stands at 24.68%, with a debt-to-asset ratio of 87.74% [1]. - Currently, there are no institutional investment ratings for Fu Yi International Holdings [1]. Group 3 - Fu Yi International Holdings, formerly known as Dida International Holdings, was established in 2014 and listed in 2015, primarily engaged in the sales of high-end bio-fertilizers, chemical fertilizer raw materials, and various consumer products [2]. - The company is led by Chairman and CEO Meng Guangyin since April 2018, with a team of executive directors including CFO Liu Guoqing and others [2]. Group 4 - In terms of industry valuation, the average price-to-earnings (P/E) ratio for the raw materials sector is 20.86 times, with a median of 7.02 times. Fu Yi International Holdings has a P/E ratio of 8.71 times, ranking 16th in the industry [1]. - Comparatively, other companies in the sector have significantly lower P/E ratios, such as Jun Dong Holdings at 0.72 times and Da Cheng Biochemical Technology at 1.01 times [1].

Group 1 - The core viewpoint of the news highlights the recent performance of Fu Yi International Holdings, which saw a significant increase in its stock price by 22.92% to HKD 0.059 per share, while the Hang Seng Index rose by 1.09% to 24148.07 points [1] - Over the past month, Fu Yi International Holdings has experienced a cumulative decline of 4%, and a year-to-date decline of 7.69%, underperforming the Hang Seng Index's increase of 19.08% [2] - Financial data shows that as of October 31, 2024, Fu Yi International Holdings achieved total revenue of HKD 40.76 million, representing a year-on-year growth of 98.89%, and a net profit attributable to shareholders of HKD 1.51 million, with a growth of 161.63% [2] Group 2 - Currently, there are no institutional investment ratings for Fu Yi International Holdings [3] - In terms of industry valuation, the average price-to-earnings (P/E) ratio for the raw materials sector is 14.85 times, with a median of 5.58 times. Fu Yi International Holdings has a P/E ratio of 6.85 times, ranking 11th in the industry [3] - Fu Yi International Holdings, formerly known as Dida International Holdings, was established in 2014 and listed in 2015. The company primarily engages in the sales of high-end bio-fertilizers, fertilizer raw materials (including coal), various fertilizer-related products, and consumer goods such as clothing, shoes, watches, and mobile accessories [3]

Group 1 - The core viewpoint of the news highlights the recent performance of 富一国际控股 (Fu Yi International Holdings), noting a significant increase in its stock price despite a general decline in the Hang Seng Index [1] - As of June 19, the Hang Seng Index fell by 1.99% to 23,237.74 points, while 富一国际控股's stock price rose by 22.92% to HKD 0.059 per share, with a trading volume of 8,000 shares and a total turnover of HKD 476 [1] - Over the past month, 富一国际控股 has seen a cumulative increase of 17.07%, but it has a year-to-date decline of 7.69%, underperforming the Hang Seng Index by 18.2% [1] Group 2 - Financial data shows that for the fiscal year ending October 31, 2024, 富一国际控股 achieved total revenue of HKD 40.76 million, representing a year-on-year growth of 98.89% [1] - The company reported a net profit attributable to shareholders of HKD 1.51 million, which is a 161.63% increase compared to the previous year, with a gross margin of 24.68% and a debt-to-asset ratio of 87.74% [1] - Currently, there are no institutional investment ratings for 富一国际控股 [1] Group 3 - 富一国际控股, formerly known as 滴达国际控股, was established in 2014 and listed in 2015, primarily engaged in the sales of high-end bio-fertilizers and various related products, including coal and consumer goods [2] - The company is led by Chairman and CEO 孟广银 since April 2018, with a team of executive directors including 刘国庆 as CFO and others appointed in various roles since 2017 [2] Group 4 - In terms of industry valuation, the average price-to-earnings (P/E) ratio for the raw materials sector is 15.16 times, with a median of 5.63 times [1] - 富一国际控股 has a P/E ratio of 6.85 times, ranking 10th in the industry, while other companies in the sector have significantly lower P/E ratios, such as 大成生化科技 at 1.06 times and 中木国际 at 1.65 times [1]

Revenue and Profitability - Revenue for the Review Period increased by approximately 98.7% to approximately HK$44.5 million, compared to approximately HK$22.4 million for the same period last year[17]. - Profit attributable to owners of the Company was approximately HK$1.6 million, a turnaround from a loss of approximately HK$2.7 million in the same period last year[17]. - Revenue increased by approximately HK$22.1 million or 98.7% from approximately HK$22.4 million for the six months ended 31 October 2023 to approximately HK$44.5 million for the Review Period[28]. - Revenue from the manufacture and sales of compound fertilisers increased by approximately HK$35.0 million from approximately HK$0.7 million for the six months ended 31 October 2023 to approximately HK$35.7 million for the Review Period[28]. - The Group recorded a profit before tax of approximately HK$2.1 million for the Review Period, compared to a loss before tax of approximately HK$1.4 million for the six months ended 31 October 2023[38]. - Total comprehensive income for the period was HK$2,188,000, compared to a comprehensive loss of HK$4,996,000 in the prior year[98]. - For the six months ended 31 October 2024, the profit attributable to owners of the Company was HK$1,648,000, compared to a loss of HK$2,674,000 for the same period in 2023[173]. Cost Management - The Group adopted measures to control operating costs, including staff cost reductions, to navigate the challenging economic environment[11]. - Cost of sales increased by approximately HK$31.8 million from approximately HK$1.7 million for the six months ended 31 October 2023 to approximately HK$33.5 million for the Review Period[29]. - Overall gross profit decreased by approximately HK$9.7 million or 46.9% from approximately HK$20.7 million for the six months ended 31 October 2023 to approximately HK$11.0 million for the Review Period[30]. - Selling and distribution costs decreased by approximately HK$5.9 million or 54.6% from approximately HK$10.8 million for the six months ended 31 October 2023 to approximately HK$4.9 million for the Review Period[35]. - Administrative expenses decreased by approximately HK$8.0 million or 66.1% from approximately HK$12.1 million for the six months ended 31 October 2023 to approximately HK$4.1 million for the Review Period[36]. - Total staff costs decreased to HK$4,951,000 in 2024 from HK$12,033,000 in 2023, representing a reduction of approximately 58.8%[163]. Market Performance - The export volume of urea dropped sharply by about 92.8% compared to the same period last year, severely affecting the Group's export business performance[12]. - The overall domestic fertiliser market showed a slight weakness due to falling raw material prices and insufficient domestic market demand[12]. - The Group's trading business faced challenges due to a slowdown in demand growth and a sharp decline in trading volume[11]. - The Group implemented marketing strategies to promote domestic sales in response to the decline in export volume[12]. - Revenue from Mainland China surged to HK$43,714,000, up 104.4% from HK$21,426,000 in the previous year, while revenue from Hong Kong decreased to HK$752,000 from HK$931,000[149]. Corporate Governance - The Company has complied with all provisions of the Corporate Governance Code, except for provisions C.2.1 and F.2.2, with Mr. Liu serving as both Chairman and CEO since September 7, 2017[71]. - The Audit Committee consists of three members, all of whom are Independent Non-Executive Directors (INEDs), ensuring compliance with Rule 3.21 of the Listing Rules[74]. - The Company plans to schedule future AGMs earlier to avoid timetable clashes, ensuring effective communication with shareholders[72]. - The Company is in the process of identifying suitable candidates to comply with the Corporate Governance Code regarding the separation of the roles of Chairman and CEO[71]. - The Company has established a register to record substantial shareholders' interests as required under section 336 of the SFO[79]. Financial Position - As of 31 October 2024, the Group's total cash and cash equivalents were approximately HK$65.1 million, a slight decrease from approximately HK$65.8 million as of 30 April 2024[40]. - The Group maintained a current ratio of approximately 1.1 times as of 31 October 2024 and 30 April 2024, indicating stable liquidity[40]. - The Group had no bank borrowings as of 31 October 2024 and 30 April 2024, indicating a strong financial position[46]. - The Company did not declare any interim dividend for the review period, consistent with the previous period[62]. - The income tax expense for the six months ended 31 October 2024 was HK$414,000, down from HK$1,266,000 in 2023, reflecting a decrease of approximately 67.3%[167]. - Total liabilities decreased to HK$125,632,000 from HK$157,719,000, indicating improved financial stability[103]. Operational Challenges - Cash generated from operations was HK$672,000, a significant decline from HK$51,259,000 in the previous year, highlighting operational challenges[108]. - Commission income decreased to HK$8,059,000, down 61.0% from HK$20,712,000 in the previous year[129]. - The wholesale business of watches generated revenue of HK$743,000, a decline of 19.5% compared to HK$922,000 in the prior period[129]. - The net foreign exchange gain for the period was HK$39,000, a decrease from HK$586,000 in the previous year[156]. Inventory and Receivables - The gross carrying amount of inventories as of 31 October 2024 was HK$12,426,000, down from HK$13,789,000 as of 30 April 2024[179]. - Trade receivables as of October 31, 2024, were HK$112,000, significantly reduced from HK$545,000 as of April 30, 2024, indicating a decline of about 79.5%[182]. - The allowance for write-down of inventories recognized was HK$76,000 for the current period, compared to HK$581,000 in the previous year[153]. - The entire balance of contract liabilities as of October 31, 2024, is expected to be derecognized within twelve months upon delivery of products to customers[193].