香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 正面盈利預告 本公告乃由竣球控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第13.09條及 香港法例第571章證券及期貨條例第XIVA部之內幕消息條文（定義見上市規則）作出。 根據對本集團截至2025年6月30日止六個月（「2025年上半年」）的未經審核綜合管 理賬目及目前可得的資料所作出的初步評估，本公司董事（「董事」）會（「董事會」） 欣然通知其股東及潛在投資者，與截至2024年6月30日止六個月（「2024年上半年」） 錄得淨虧損約5,700,000港元相比，本集團預期錄得淨溢利介乎10,000,000港元至 12,000,000港元，此乃由於本集團各業務分部的財務表現改善所致，詳情如下： 1 － 本集團供應鏈管理服務業務分部於2025年上半年預期產生收益約47,300,000 港元（2024年上半年：零），並預期錄得 ...

格隆汇8月6日丨竣球控股(01481.HK)宣布，董事会将于2025年8月26日(星期二)举行会议，藉以(其中包 括)审议及批准公司及其附属公司截至2025年6月30日止六个月之中期业绩公告，及考虑建议派发中期股 息(如有)。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 SMART GLOBE HOLDINGS LIMITED 竣球控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1481） 董事會會議通知 竣球控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，董事會將於 2025年8月26日（星期二）舉行會議，藉以（其中包括）審議及批准本公司及其附屬 公司截至2025年6月30日止六個月之中期業績公告，及考慮建議派發中期股息（如 有）。 承董事會命 竣球控股有限公司 聯席公司秘書 朱樂峰及陳坤 香港，2025年8月6日 於本公告日期，執行董事為吳浩麟先生、朱樂峰先生、陳坤先生及林德凌先生；及獨立非執行董 事為胡家慈博士、姚好智先生及羅瑩慧女士。 ...

公司名稱: 竣球控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 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 | | | 狀態: | | --- | --- | --- | | 截至月份: | 2025年7月31日 | 新提交 | 致：香港交易及結算所有限公司 | 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) | 01481 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 | HKD | | 20,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 ...

诚如该等公告所披露，本集团已建立自身的货运能力，将其业务扩展至非洲撒哈拉以南之物流领域，作 为其新开展的供应链管理服务业务的一部分。于本公告日期，本集团已进一步扩大其物流能力，并已完 成在该土地上的物流中心内的部份仓库建筑，以启动其供应链管理服务业务。 鉴于物流中心位于赞比亚，毗邻赞比亚与刚果(金)边境，为跨境物流业务的战略地点，本集团的物流中 心可藉此加快清关、降低运输成本及提高运输效率。因此， COSCO SHIPPING Africa订立服务协议， 以利用本集团的战略优势，将产品从多个国家(包括但不限于津巴布韦共和国、赞比亚及刚果(金))仓储 及运输至非洲不同地点。 董事认为，订立服务协议将使各方能够开展关于该土地的商业合作。董事认为，与COSCO SHIPPING Africa的战略合作乃本集团拓宽收入来源并在非洲撒哈拉以南建立当地业务的重要里程碑。 此外，与COSCO SHIPPING Africa订立服务协议后，预期本集团将能够吸引其他国际及当地物流公司建 立战略合作伙伴关系，以进一步加强其在当地的业务。 智通财经APP讯，竣球控股(01481)发布公告，有关(其中包括)收购事项、可换股债券认购事 ...

Financial Performance - The group's revenue for the fiscal year 2024 was approximately HKD 117.6 million, an increase of about 20.9% compared to HKD 97.2 million in fiscal year 2023[14]. - Revenue from the printing business was approximately HKD 108.1 million, up about 11.1% from HKD 97.2 million in the previous year[12]. - The new supply chain management services business generated revenue of approximately HKD 9.5 million, contributing a net profit of about HKD 0.4 million since its launch in August 2024[13]. - The group's gross profit for fiscal year 2024 was approximately HKD 13.7 million, a decrease of about 36.2% from HKD 21.6 million in fiscal year 2023[15]. - The gross profit margin for the printing business decreased to 12.1% in fiscal year 2024 from 22.2% in fiscal year 2023[15]. - Other income increased from approximately HKD 0.9 million in fiscal year 2023 to about HKD 2.6 million in fiscal year 2024, primarily due to increased bank interest income and government subsidies[16]. - The annual loss for FY2024 increased to approximately HKD 12.0 million, compared to a loss of approximately HKD 3.7 million in FY2023[19]. - The company reported a loss attributable to shareholders of approximately HKD 12,000,000 for the fiscal year 2024, compared to a loss of HKD 3,690,000 in 2023, resulting in a basic loss per share of HKD (1.18) for 2024, compared to HKD (0.36) for 2023[54][57]. - The company experienced a significant decline in net profit, with a loss of HKD 12,000,000 in 2024 compared to a loss of HKD 3,690,000 in 2023 and a profit of HKD 16,001,000 in 2020[57]. Business Expansion and Strategy - The group is expanding its business into the logistics sector in sub-Saharan Africa, marking a significant milestone for future growth and diversification[7]. - The company plans to continue leveraging its leading one-stop printing platform while tightening control over operating expenses and streamlining production processes to improve overall production efficiency[21]. - The company successfully expanded its business into the logistics sector in Sub-Saharan Africa, establishing its own truck fleet in Zambia, which contributed to FY2024 revenues[22]. - The company is focused on expanding its core business and exploring new opportunities in the pharmaceutical sector[39]. - The group plans to use the proceeds from the convertible bonds for general working capital, including expanding its logistics fleet and developing a logistics center on the acquired land[34]. Financial Position and Assets - As of December 31, 2024, total assets were HKD 142.5 million, down from HKD 150.3 million in FY2023, while shareholders' equity decreased to HKD 113.2 million from HKD 126.6 million[24]. - The current ratio as of December 31, 2024, was approximately 4.3, down from 5.8 in FY2023, indicating a decrease in liquidity[28]. - The company held cash and cash equivalents of approximately HKD 55.3 million as of December 31, 2024, compared to approximately HKD 65.6 million in FY2023[25]. - The group acquired properties, plants, and equipment amounting to approximately HKD 7.3 million in FY2024, compared to HKD 0.5 million in FY2023[31]. - As of December 31, 2024, the group has authorized but not provided for capital commitments of approximately HKD 1.1 million for property acquisition, HKD 27.1 million for land acquisition, and HKD 11.2 million for construction in progress[31]. Employee and Labor Practices - The total employee cost for FY2024 was approximately HKD 38.5 million, an increase from approximately HKD 34.7 million in FY2023, with the total number of employees rising to 438 from 364[33]. - The employee count at the Heyuan factory increased to 406 from 350 year-over-year[33]. - The employee turnover rate for the reporting period is 15%, down from 17% in 2023, indicating an improvement in employee retention[113]. - The employee distribution by gender shows 252 males (57.5%) and 186 females (42.5%)[110]. - The average training hours completed per employee is 0.6 hours, with males averaging 0.6 hours and females averaging 0.7 hours[117]. - The percentage of trained employees is 73%, with 15% at junior level, 43% at intermediate level, and 42% at management level[117]. - The company recorded 9 work-related injuries during the reporting period, with no fatalities reported[115]. - The company is committed to adhering to labor laws in China, Hong Kong, and Zambia, ensuring fair labor practices and employee rights[118]. Environmental, Social, and Governance (ESG) Initiatives - The company has established dedicated ESG working groups to manage ESG issues across its business segments, reflecting its commitment to sustainable development and corporate social responsibility[58][59]. - The ESG report for the fiscal year 2024 outlines the company's strategies for improving environmental and social performance, aligning with global sustainability standards[58][62]. - The company achieved ISO 14001 environmental management system certification, demonstrating its commitment to sustainable environmental practices[81]. - The company is committed to complying with all applicable laws and regulations regarding emissions, including various environmental protection laws in China and Zambia[81]. - The company has implemented measures to reduce greenhouse gas emissions, including regular vehicle maintenance and the use of low-emission vehicles[89]. - The company emphasizes the importance of stakeholder engagement and aims to balance profitability with environmental and social impacts[59]. - The company has established an ESG governance framework to enhance the management of ESG issues, with the board overseeing ESG-related risks and opportunities[66]. - The company has implemented a comprehensive safety management system, achieving ISO 45001 certification for occupational health and safety[115]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with its principles, with some deviations noted[164]. - The board believes that having the same individual serve as both chairman and CEO enhances decision-making efficiency despite deviating from the governance code[164]. - The board will regularly review the need to separate the roles of chairman and CEO to maintain good corporate governance[165]. - The board is responsible for overseeing the overall strategy and development of the company, ensuring effective risk management and internal controls[167]. - The company has confirmed that all directors have fully complied with the standards of the securities trading code during the fiscal year 2024[166]. - The board has established guidelines to clearly define the responsibilities of the board and management, including approval of significant financial and operational matters[167]. - The company has made appropriate insurance arrangements for its directors and senior officers against potential legal claims[169]. - The board consists of four executive directors and three independent non-executive directors, with all directors attending at least one training course related to corporate governance in the fiscal year 2024[175].

Revenue and Profitability - The revenue for SMART GLOBE HOLDINGS LIMITED for the fiscal year 2024 was approximately HKD 117.6 million, an increase of about 20.9% compared to HKD 97.2 million in fiscal year 2023[2]. - The printing business generated revenue of approximately HKD 108.1 million in fiscal year 2024, an increase of about 11.1% from HKD 97.2 million in fiscal year 2023[4][6]. - The supply chain management services business, which commenced operations in August 2024, generated revenue of approximately HKD 9.5 million and a net profit of approximately HKD 0.4 million[5][6]. - Other income increased from approximately HKD 0.9 million in fiscal year 2023 to HKD 2.6 million in fiscal year 2024, mainly due to increased bank interest income and government subsidies[9]. - Revenue for the fiscal year 2024 was approximately HKD 117.6 million, a decrease from HKD 97.2 million in fiscal year 2023[37]. - Revenue from book products was HKD 99,757,000, up 11.5% from HKD 89,659,000 in 2023[53]. - Supply chain management services generated revenue of HKD 9,520,000, marking the first contribution from this segment[58]. - The printing business reported a segment loss of HKD 5,608,000, while the supply chain management services achieved a profit of HKD 361,000[58]. Financial Performance - The net loss for fiscal year 2024 was approximately HKD 12.0 million, compared to a loss of HKD 3.7 million in fiscal year 2023, primarily due to competitive pricing strategies and increased administrative expenses related to supply chain management services in Sub-Saharan Africa[2][12]. - The gross profit for fiscal year 2024 was approximately HKD 13.7 million, a decrease of about 36.2% from HKD 21.6 million in fiscal year 2023, primarily due to lower profit margins from the printing business[7]. - The gross margin for the printing business decreased to 12.1% in fiscal year 2024 from 22.2% in fiscal year 2023[7]. - The company reported a loss attributable to shareholders of approximately HKD 12 million for the fiscal year 2024, compared to a loss of HKD 3.69 million in fiscal year 2023[35]. - The company’s basic loss per share for fiscal year 2024 was HKD 1.18, compared to HKD 0.36 in fiscal year 2023[35]. - The company incurred a loss before tax of HKD 12,000,000 for the year, compared to a loss of HKD 3,666,000 in the previous year, indicating a significant decline in performance[48]. - The basic loss per share for the year 2024 was HKD (12,000) thousand, compared to HKD (3,690) thousand in 2023, indicating a significant increase in losses[66]. Expenses and Costs - Administrative expenses increased by approximately 12.4% to HKD 23.2 million in fiscal year 2024, primarily due to higher employee costs and legal/professional fees related to supply chain management services[11]. - The company reported a total employee cost of approximately HKD 38.5 million for the fiscal year 2024, an increase from HKD 34.7 million in fiscal year 2023[26]. - The company has no interest-bearing bank borrowings as of December 31, 2024, maintaining a current ratio of approximately 4.3[20]. Assets and Liabilities - The total assets as of December 31, 2024, were approximately HKD 142.5 million, a decrease from HKD 150.3 million in 2023[17]. - Shareholders' equity decreased to approximately HKD 113.2 million in 2024 from HKD 126.6 million in 2023[17]. - The group’s debt-to-equity ratio increased to 7.1% in 2024 from 5.2% in 2023[20]. - Current assets as of December 31, 2024, were approximately HKD 107.0 million, down from HKD 114.6 million in 2023[18]. - The net current asset value decreased by approximately HKD 12.9 million or 13.5% to about HKD 82.1 million in 2024[18]. - The total assets decreased to HKD 117,573,000 as of December 31, 2024, down from HKD 130,688,000 in 2023[49]. - The net asset value also declined to HKD 113,159,000 in 2024, compared to HKD 126,603,000 in 2023[49]. Strategic Developments - The company plans to continue leveraging its one-stop printing platform and improve operational efficiency despite challenges from digital transformation and global competition[14]. - The group has successfully expanded its supply chain management services into the logistics sector in sub-Saharan Africa, contributing to revenue in FY2024[15]. - The group established its own truck fleet in Zambia and completed the acquisition of land in early 2025, planning to expand its logistics fleet and build a logistics center[15]. - The group signed a memorandum of understanding with COSCO SHIPPING Africa for strategic cooperation, aiming to formalize a binding agreement within the next year[15]. - The company completed the acquisition of land in Zambia on January 3, 2025, as part of its strategy to capitalize on logistics opportunities in sub-Saharan Africa[33]. - The company established two new subsidiaries in Zambia, expanding its operations into supply chain management services[56]. Shareholder Information - The board of directors did not recommend any final dividend for fiscal year 2024, consistent with fiscal year 2023[13]. - No dividends were declared or proposed for the past two years, consistent with the previous year[65]. - The company has not purchased, sold, or redeemed any of its securities during the fiscal year 2024[28]. - The company issued convertible bonds with a principal amount of HKD 20.1 million, convertible into a maximum of 16,750,000 shares at a conversion price of HKD 1.2 per share[27]. - The net proceeds from the convertible bond issuance are intended for general working capital, including expanding the logistics fleet and developing a logistics center[27]. - The company raised approximately HKD 20.7 million from a share placement in 2022, which has been fully utilized for acquiring land in Zambia, accounting for 76.3% of the total cost[32]. Employee Information - As of December 31, 2024, the company had 438 employees, up from 364 employees as of December 31, 2023[26].

竣球控股有限公司 （於開曼群島註冊成立的有限公司 ） 股份代號:1481 中期報告 目錄 | --- | --- | |------------------------------|-------| | | | | 企業資料 | 2 | | 財務概要 | 4 | | 管理層討論與分析 | 5 | | 其他資料 | 12 | | 簡明綜合財務報表之審閱報告 | 16 | | 簡明綜合損益及其他全面收益表 | 17 | | 簡明綜合財務狀況表 | 18 | | 簡明綜合權益變動表 | 19 | | 簡明綜合現金流量表 | 20 | | 簡明綜合財務報表附註 | 21 | 企業資料 | --- | --- | |--------------------------------|-----------------------------| | | | | 董事會 | 提名委員會 | | 執行董事 | 吳浩麟先生 （主席） | | 吳浩麟先生 （主席） 朱樂峰先生 | 姚好智先生 羅瑩慧女士 | | 陳坤先生 | 公司秘書 | | 林德凌先生 | 朱樂峰先生 | | 獨立非執行董事 胡家慈博士 | 陳坤先生 | | 姚 ...

[Financial Summary](index=1&type=section&id=Financial%20Summary) Junqiu Holdings Limited reported HK$50.5 million revenue, a 10.6% increase, but loss attributable to owners slightly widened to HK$5.7 million due to lower gross profit 2024 H1 Financial Summary | Indicator | 2024 H1 (HK$ million) | 2023 H1 (HK$ million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 50.5 | 45.6 | 10.6% | | Loss attributable to owners | (5.7) | (5.5) | 3.6% (Loss expanded) | | Basic loss per share (HK cents) | (0.56) | (0.54) | 3.7% (Loss expanded) | - The increase in loss after tax was primarily due to a decrease in gross profit, partially offset by increased bank interest income and net exchange gains[2](index=2&type=chunk) - The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2024[2](index=2&type=chunk) [Management Discussion and Analysis](index=2&type=section&id=Management%20Discussion%20and%20Analysis) This section details operating and financial performance, outlining strategies to improve marketing, streamline production, and diversify revenue through new logistics ventures in Sub-Saharan Africa [Business Review](index=2&type=section&id=Business%20Review) The Group's revenue grew 10.6% to HK$50.5 million, driven by book product orders, but loss attributable to owners increased to HK$5.7 million due to lower gross profit - The Group primarily engages in book printing, paper stationery, and packaging products, offering comprehensive services from pre-press to finished printed products[4](index=4&type=chunk) Business Review Key Financial Data | Indicator | 2024 H1 (HK$ million) | 2023 H1 (HK$ million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 50.5 | 45.6 | 10.6% | | Loss attributable to owners | (5.7) | (5.5) | 3.6% (Loss expanded) | - The increase in revenue was mainly due to increased customer orders from Hong Kong in the book products segment; the increase in loss was primarily due to a decrease in gross profit, partially offset by increased bank interest income and net exchange gains[4](index=4&type=chunk) [Financial Review](index=2&type=section&id=Financial%20Review) Despite revenue growth, gross profit and margin declined, leading to a slight loss expansion, partially offset by increased other income and exchange gains, while operating costs remained stable [Revenue](index=2&type=section&id=Revenue) Revenue increased by 10.6% to HK$50.5 million, primarily driven by the book products segment, which contributed HK$47.6 million or 94.3% of total revenue Revenue Overview | Indicator | 2024 H1 (HK$ million) | 2023 H1 (HK$ million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 50.5 | 45.6 | 10.6% | | Book products segment revenue | 47.6 | 43.1 | 10.4% | | Book products segment as % of total revenue | 94.3% | - | - | - The increase in revenue was mainly due to increased customer orders received from Hong Kong in the book products segment[5](index=5&type=chunk) [Gross Profit and Gross Profit Margin](index=2&type=section&id=Gross%20Profit%20and%20Gross%20Profit%20Margin) Gross profit decreased by 27.5% to HK$6.2 million, with the margin falling from 18.9% to 12.4%, primarily due to lower selling prices to attract customers Gross Profit and Gross Profit Margin Change | Indicator | 2024 H1 (HK$ million) | 2023 H1 (HK$ million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Gross Profit | 6.2 | 8.6 | (27.5%) | | Gross Profit Margin | 12.4% | 18.9% | (6.5) percentage points | - The decrease in gross profit and gross profit margin was mainly due to the Group lowering selling prices of key products to attract more customers, while production costs remained stable[6](index=6&type=chunk) [Other Income and Other Gains and Losses](index=3&type=section&id=Other%20Income%20and%20Other%20Gains%20and%20Losses) Other income surged to HK$1.0 million, driven by bank interest, and the company recorded a net exchange gain of HK$0.7 million, reversing last year's loss Other Income and Gains/Losses Change | Indicator | 2024 H1 (HK$ million) | 2023 H1 (HK$ million) | | :--- | :--- | :--- | | Other Income | 1.0 | 0.1 | | Net Exchange Gain | 0.7 | (0.6) (Loss) | - The increase in other income was mainly due to increased bank interest income[7](index=7&type=chunk) [Selling and Distribution Costs](index=3&type=section&id=Selling%20and%20Distribution%20Costs) Selling and distribution costs remained stable at approximately HK$3.0 million for the period - Selling and distribution costs remained stable at approximately **HK$3.0 million** in both periods[8](index=8&type=chunk) [Administrative Expenses](index=3&type=section&id=Administrative%20Expenses) Administrative expenses remained stable at approximately HK$10.4 million, comparable to HK$10.6 million in the previous period - Administrative expenses remained stable at approximately **HK$10.4 million** for the period (2023 H1: approximately HK$10.6 million)[9](index=9&type=chunk) [Loss for the Period](index=3&type=section&id=Loss%20for%20the%20Period) The net loss for the period slightly widened to approximately HK$5.7 million, compared to HK$5.5 million in the prior period Loss for the Period | Indicator | 2024 H1 (HK$ million) | 2023 H1 (HK$ million) | | :--- | :--- | :--- | | Net Loss | (5.7) | (5.5) | [Outlook](index=3&type=section&id=Outlook) The Group plans to enhance marketing, streamline production, and diversify revenue by exploring new opportunities, including a logistics business in Sub-Saharan Africa, starting with Zambia - The Group will improve marketing strategies, expand its quality customer base, and promote one-stop printing services[11](index=11&type=chunk) - The Group will strive to further tighten operating expense control and streamline production processes, and improve overall production efficiency through its one-stop printing platform[11](index=11&type=chunk) - The Group is actively seeking new business opportunities to diversify its revenue streams, having commenced a new logistics business in Sub-Saharan Africa, with initial services planned for the Republic of Zambia[11](index=11&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=4&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) The Group's capital structure remains stable with HK$10.2 million issued share capital, but total assets and cash decreased, while liquidity ratios declined yet remained robust - The Company's issued share capital is **HK$10,200,000**, with **1,020,000,000** ordinary shares of HK$0.01 each in issue[12](index=12&type=chunk) Liquidity and Financial Resources Overview | Indicator | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 145,273 | 150,329 | (3.4%) | | Shareholders' Equity | 119,994 | 126,603 | (5.2%) | | Bank Balances and Cash | 52,511 | 65,647 | (20.0%) | | Gearing Ratio | 4.3% | 5.2% | (0.9) percentage points | | Current Ratio | 5.1 | 5.8 | (0.7) | - The Group has no interest-bearing bank borrowings[14](index=14&type=chunk) [Treasury Policy](index=5&type=section&id=Treasury%20Policy) The Group maintains a prudent treasury policy, managing liquidity risk by monitoring cash, credit limits, and solvency to ensure a robust financial position - The Group has adopted a prudent financial management approach as its treasury policy, and its liquidity position has remained robust[15](index=15&type=chunk) - Management monitors the Group's liquidity position and maintains sufficient cash and cash equivalents, and monitors credit limits and solvency through committed credit facilities[15](index=15&type=chunk) [Exchange Rate Fluctuation Risk](index=5&type=section&id=Exchange%20Rate%20Fluctuation%20Risk) Low revenue exchange risk due to USD/HKD denomination, but RMB appreciation could increase production costs; hedging strategies will be reviewed - Revenue is primarily denominated in **USD and HKD**, resulting in low exchange rate fluctuation risk[16](index=16&type=chunk) - The Group faces foreign exchange risk as its production activities are mainly located in Mainland China, where RMB appreciation could lead to increased production costs[16](index=16&type=chunk) - No hedging instruments were entered into during the period, but hedging arrangements will be continuously reviewed and considered as appropriate[16](index=16&type=chunk) [Capital Expenditure, Capital Commitments and Contingent Liabilities](index=6&type=section&id=Capital%20Expenditure%2C%20Capital%20Commitments%20and%20Contingent%20Liabilities) The Group acquired HK$0.4 million in property, plant, and equipment, with no pledged assets, significant capital commitments, or material contingent liabilities as of June 30, 2024 Capital Expenditure | Indicator | 2024 H1 (HK$ million) | 2023 H1 (HK$ million) | | :--- | :--- | :--- | | Purchase of property, plant and equipment | 0.4 | Nil | - As of June 30, 2024, the Group had no pledged assets, significant capital commitments, or material contingent liabilities[17](index=17&type=chunk) [Dividends](index=6&type=section&id=Dividends) The Board does not recommend any interim dividend payment for the six months ended June 30, 2024 - The Board does not recommend the payment of any interim dividend for the current period[18](index=18&type=chunk) [Material Investments / Material Acquisitions and Disposals of Subsidiaries and Associates](index=6&type=section&id=Material%20Investments%20%2F%20Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%20and%20Associates) No material acquisitions, disposals, investments, or capital commitments were made during the period, nor are there any future plans for such activities - During the period, the Company made no material acquisitions or disposals of subsidiaries, associates, joint ventures, material investments, or capital commitments[19](index=19&type=chunk) - As of the date of this announcement, the Company has no other future plans for material acquisitions, disposals, investments, or additions to capital assets[19](index=19&type=chunk) [Employee Information and Remuneration Policy](index=6&type=section&id=Employee%20Information%20and%20Remuneration%20Policy) The Group's employee count decreased to 327, with total staff costs of HK$20.0 million; remuneration is market-based, performance-linked, and includes benefits Employee Information | Indicator | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Total Employees | 327 | 364 | | Total Staff Costs (HK$ million) | 20.0 | 17.1 (2023 H1) | - Employee remuneration is determined based on market conditions and individual performance, with medical insurance and discretionary bonuses provided[20](index=20&type=chunk) [Purchase, Sale or Redemption of the Company's Securities](index=6&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Securities) Neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's securities during the period - During the period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's securities[21](index=21&type=chunk) [Use of Proceeds from 2022 Placing](index=7&type=section&id=Use%20of%20Proceeds%20from%202022%20Placing) HK$20.7 million net proceeds from the 2022 placing remain unutilized, with HK$13.7 million for pharmaceutical projects and HK$7.0 million for core business, expected to be used by year-end - The 2022 placing raised net proceeds of approximately **HK$20.7 million**[22](index=22&type=chunk) - The original plan to invest in pharmaceutical-related projects was halted due to lengthy due diligence, and an advance of **HK$7.0 million** was recovered and re-allocated for the Group's ongoing core business activities[22](index=22&type=chunk) 2022 Placing Proceeds Usage and Timeline | Intended Use of Proceeds | Allocation of Net Proceeds as of Jan 1, 2024 (HK$ million) | Amount Utilized as of this Announcement Date (HK$ million) | Expected Timeline for Utilization | | :--- | :--- | :--- | :--- | | Pharmaceutical-related projects | 13.7 | 13.7 | On or before December 31, 2024 | | Core business activities | 7.0 | 7.0 | On or before December 31, 2024 | | **Total** | **20.7** | **20.7** | | [Events After Reporting Period](index=9&type=section&id=Events%20After%20Reporting%20Period) The Group announced expansion into Sub-Saharan African logistics, establishing a Zambian subsidiary with projected operating costs not exceeding US$0.4 million for 2024 - On August 5, 2024, the Group announced its intention to expand its business into the logistics sector in Sub-Saharan Africa[25](index=25&type=chunk) - A new wholly-owned subsidiary has been established in the Republic of Zambia, and local drivers have been recruited, with a truck fleet established through leasing arrangements[25](index=25&type=chunk) - The operating costs for this new logistics business are projected not to exceed **US$0.4 million** (approximately **HK$3.1 million**) for the year ending December 31, 2024[25](index=25&type=chunk) [Update on Directors' Information](index=9&type=section&id=Update%20on%20Directors%27%20Information) No updates to directors' information or other disclosures were required under Listing Rule 13.51B(1) during the period - During the period, no updates to directors' information or other disclosures were required under Rule 13.51B(1) of the Listing Rules of the Stock Exchange[26](index=26&type=chunk) [Share Option Scheme](index=9&type=section&id=Share%20Option%20Scheme) The Company's 2017 share option scheme has not granted any options, with 100,000,000 shares remaining available for future grants - The Company conditionally adopted a share option scheme on December 4, 2017[27](index=27&type=chunk) - No share options have been granted since the adoption of the scheme, and no outstanding share options existed as of June 30, 2024[27](index=27&type=chunk) - The number of shares available for grant under the scheme remains **100,000,000** shares[27](index=27&type=chunk) [Directors' and Chief Executive's Interests in Shares, Underlying Shares and Debentures](index=9&type=section&id=Directors%27%20and%20Chief%20Executive%27s%20Interests%20in%20Shares%2C%20Underlying%20Shares%20and%20Debentures) Chairman and CEO Mr. Ng Ho Lun indirectly holds 73.53% of the Company's shares; no other directors or associates have disclosable interests Directors' Shareholdings | Director Name | Capacity | Number of Ordinary Shares Held | Percentage of Company's Shares | | :--- | :--- | :--- | :--- | | Ng Ho Lun | Held by controlled corporation (Note 1) | 750,000,000 | 73.53% | - Save as disclosed above, no director or their associates had any interests or short positions in the shares, underlying shares, or debentures of the Company or any of its associated corporations[29](index=29&type=chunk) [Interests and Short Positions of Substantial Shareholders and Other Persons in Shares and Underlying Shares](index=10&type=section&id=Interests%20and%20Short%20Positions%20of%20Substantial%20Shareholders%20and%20Other%20Persons%20in%20Shares%20and%20Underlying%20Shares) Substantial shareholder TeraMetal Holdings Limited beneficially owns 73.53% of shares; Ms. Liu Chujia is deemed to have a spousal interest in the same, with no other disclosable interests Substantial Shareholders' Shareholdings | Shareholder Name | Capacity | Number of Shares Held | Percentage of Company's Issued Shares | | :--- | :--- | :--- | :--- | | TeraMetal Holdings Limited | Beneficial owner | 750,000,000 | 73.53% | | Liu Chujia | Spouse's interest (Spouse of Mr. Ng Ho Lun) | 750,000,000 | 73.53% | - Save as disclosed above, no other persons had any interests or short positions in the shares or underlying shares of the Company that were required to be disclosed to the Company and recorded in the register[30](index=30&type=chunk) [Management Contracts](index=10&type=section&id=Management%20Contracts) No management or administration contracts for the Company's business, beyond standard service agreements with directors or full-time employees, were entered into or existed - During the period, no contracts concerning the management and administration of the whole or any substantial part of the Company's business were entered into or existed[31](index=31&type=chunk) [Controlling Shareholder's Interests in Material Contracts](index=11&type=section&id=Controlling%20Shareholder%27s%20Interests%20in%20Material%20Contracts) No material contracts for services between the Company or its subsidiaries and the controlling shareholder or its subsidiaries were entered into during the period - To the best of the Directors' knowledge, neither the Company nor any of its subsidiaries, nor the controlling shareholder or any of its subsidiaries, entered into any material contracts for services provided by the controlling shareholder or its subsidiaries to the Company or its subsidiaries at any time during the period[32](index=32&type=chunk) [Directors' and Controlling Shareholder's Interests in Competing Businesses](index=11&type=section&id=Directors%27%20and%20Controlling%20Shareholder%27s%20Interests%20in%20Competing%20Businesses) No directors, controlling shareholders, or their associates held interests in any business competing with the Group's operations during the period - At no time during the period did the Company's directors and controlling shareholder or their respective close associates hold any interest in any business, other than the Group's business, that directly or indirectly competed or had competed or might compete with the Group's business[33](index=33&type=chunk) [Corporate Governance Practices](index=11&type=section&id=Corporate%20Governance%20Practices) The Company adheres to the Corporate Governance Code, with the Chairman and CEO roles combined, an arrangement the Board believes ensures consistent leadership and effective strategy execution - The Company has adopted the Corporate Governance Code in Appendix C1 of the Listing Rules[34](index=34&type=chunk) - The roles of Chairman and Chief Executive Officer are combined and held by Mr. Ng Ho Lun, which deviates from Code Provision C.2.1, but the Board believes this arrangement facilitates business strategy execution and provides consistent leadership[34](index=34&type=chunk) - The Board's structure is well-balanced, ensuring a balance of power, and will regularly review the need to appoint different individuals to serve as Chairman and Chief Executive Officer[34](index=34&type=chunk) [Model Code for Securities Transactions by Directors](index=12&type=section&id=Model%20Code%20for%20Securities%20Transactions%20by%20Directors) The Company adopted a code of conduct for directors' securities transactions, and all directors confirmed compliance with the Model Code during the period - The Company has adopted a code of conduct for directors' securities transactions with terms no less exacting than the standards set out in the Model Code[35](index=35&type=chunk) - Following specific enquiries made to all directors, they confirmed their compliance with the required standards set out in the Model Code throughout the period[35](index=35&type=chunk) [Audit Committee](index=12&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors chaired by Ms. Law Ying Wai, has adopted terms of reference compliant with the Corporate Governance Code - The Audit Committee comprises all three independent non-executive directors, chaired by Ms. Law Ying Wai, who possesses appropriate professional qualifications[36](index=36&type=chunk) - The Audit Committee has adopted terms of reference that comply with the Code Provisions of the Corporate Governance Code[36](index=36&type=chunk) [Review of Interim Financial Information](index=12&type=section&id=Review%20of%20Interim%20Financial%20Information) The Audit Committee and management reviewed accounting principles, risk management, and internal controls, including the unaudited interim financial information, which was also reviewed by the external auditor - The Audit Committee, together with management, has reviewed the accounting principles and practices adopted by the Group and discussed risk management, internal control systems, and financial reporting matters[37](index=37&type=chunk) - The external auditor, BDO Limited, has also reviewed the Group's unaudited condensed consolidated interim financial information for the period in accordance with Hong Kong Standard on Review Engagements 2410[37](index=37&type=chunk) [Condensed Consolidated Financial Statements](index=13&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents the condensed consolidated financial statements, reflecting expanded losses and reduced cash reserves, yet maintaining a robust asset and liability structure [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=13&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) Revenue grew to HK$50.5 million, but gross profit declined 27.5% to HK$6.2 million, leading to an expanded loss of HK$5.7 million for the period Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income Summary | Indicator | 2024 H1 (HK$ thousand) | 2023 H1 (HK$ thousand) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 50,451 | 45,629 | 10.6% | | Cost of sales | (44,214) | (37,026) | 19.4% | | Gross Profit | 6,237 | 8,603 | (27.5%) | | Other income | 967 | 141 | 585.8% | | Other gains and losses | 651 | (587) | (210.9%) (from loss to gain) | | Selling and distribution costs | (3,019) | (3,036) | (0.6%) | | Administrative expenses | (10,373) | (10,594) | (2.1%) | | Loss before tax | (5,669) | (5,514) | 2.8% (Loss expanded) | | Loss for the period | (5,669) | (5,520) | 2.7% (Loss expanded) | | Basic loss per share (HK cents) | (0.56) | (0.54) | 3.7% (Loss expanded) | [Condensed Consolidated Statement of Financial Position](index=14&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) Total assets decreased to HK$145.3 million, and shareholders' equity to HK$120.0 million, with net current assets at HK$91.5 million and cash at HK$52.5 million Condensed Consolidated Statement of Financial Position Summary | Indicator | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | | Non-current assets | 31,397 | 35,730 | (12.1%) | | Current assets | 113,876 | 114,599 | (0.6%) | | Inventories | 24,250 | 19,123 | 26.8% | | Trade and other receivables | 37,115 | 29,239 | 26.9% | | Bank balances and cash | 52,511 | 65,647 | (20.0%) | | Current liabilities | 22,426 | 19,641 | 14.2% | | Trade and other payables | 19,609 | 16,632 | 17.9% | | Net current assets | 91,450 | 94,958 | (3.7%) | | Net assets (Total equity) | 119,994 | 126,603 | (5.2%) | [Condensed Consolidated Statement of Changes in Equity](index=15&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) Total equity decreased from HK$126.6 million to HK$120.0 million, primarily due to a HK$5.7 million loss and HK$940 thousand in exchange differences Condensed Consolidated Statement of Changes in Equity Summary | Indicator | June 30, 2024 (HK$ thousand) | January 1, 2024 (HK$ thousand) | Change (HK$ thousand) | | :--- | :--- | :--- | :--- | | Share Capital | 10,200 | 10,200 | 0 | | Share Premium | 55,130 | 55,130 | 0 | | PRC Statutory Reserve | 379 | 379 | 0 | | Special Reserve | 12,290 | 12,290 | 0 | | Exchange Fluctuation Reserve | (6,460) | (5,520) | (940) | | Retained Profits | 48,455 | 54,124 | (5,669) | | **Total Equity** | **119,994** | **126,603** | **(6,609)** | - The decrease in total equity was mainly due to the **loss for the period** and **exchange differences** arising from translating foreign operations[41](index=41&type=chunk) [Condensed Consolidated Statement of Cash Flows](index=16&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) Net cash used in operating activities significantly increased to HK$12.5 million, while cash and cash equivalents decreased to HK$52.5 million at period-end Condensed Consolidated Statement of Cash Flows Summary | Indicator | 2024 H1 (HK$ thousand) | 2023 H1 (HK$ thousand) | | :--- | :--- | :--- | | Net cash used in operating activities | (12,468) | (2,475) | | Net cash generated from investing activities | 531 | 100 | | Net cash used in financing activities | (1,362) | (976) | | Net decrease in cash and cash equivalents | (13,299) | (3,351) | | Cash and cash equivalents at end of period | 52,511 | 54,128 | - Net cash used in operating activities significantly increased, primarily impacted by an increase in inventories and trade and other receivables[43](index=43&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=17&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed notes to the condensed consolidated financial statements, covering key accounting policies, revenue, expenses, assets, liabilities, equity, and post-reporting events [Basis of Preparation](index=17&type=section&id=Basis%20of%20Preparation) The condensed consolidated financial statements are prepared in accordance with HKAS 34 'Interim Financial Reporting' and Listing Rules disclosure requirements - The condensed consolidated financial statements are prepared in accordance with **Hong Kong Accounting Standard 34 'Interim Financial Reporting'** issued by the Hong Kong Institute of Certified Public Accountants and the applicable disclosure requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[44](index=44&type=chunk) [Significant Accounting Policies](index=17&type=section&id=Significant%20Accounting%20Policies) The financial statements are prepared on a historical cost basis, with accounting policies consistent with the prior year, except for HKFRS amendments - The condensed consolidated financial statements are prepared on a **historical cost basis**[45](index=45&type=chunk) - Except for changes resulting from the application of amendments to Hong Kong Financial Reporting Standards, the accounting policies and methods of computation used in this period are the same as those presented in the annual consolidated financial statements for the year ended December 31, 2023[45](index=45&type=chunk) [Application of Amendments to HKFRS](index=17&type=section&id=Application%20of%20Amendments%20to%20HKFRS) Amendments to HKFRS, including those related to HKFRS 16, HKAS 1, and HKAS 7, were applied with no significant impact on financial position or performance - Amendments to HKFRS, including those related to lease liabilities in a sale and leaseback, classification of liabilities as current or non-current, non-current liabilities with covenants, and supplier finance arrangements, were first applied in this period[46](index=46&type=chunk) - The application of amendments to HKFRS had **no significant impact** on the Group's financial position and performance for the current and prior periods[46](index=46&type=chunk) [Revenue and Segment Information](index=18&type=section&id=Revenue%20and%20Segment%20Information) Revenue from book products and paper stationery totaled HK$50.5 million, with Hong Kong and the US being the largest geographical contributors - Revenue refers to amounts received or receivable from the production and printing of book products, paper stationery, and packaging products, recognized when control of the goods has been transferred[47](index=47&type=chunk) Major Product Revenue | Product Category | 2024 H1 (HK$ thousand) | 2023 H1 (HK$ thousand) | | :--- | :--- | :--- | | Book products | 47,596 | 43,122 | | Paper stationery and packaging products | 2,855 | 2,507 | | **Total** | **50,451** | **45,629** | Revenue by Geographical Location | Geographical Location | 2024 H1 (HK$ thousand) | 2023 H1 (HK$ thousand) | | :--- | :--- | :--- | | Hong Kong | 30,836 | 20,055 | | United States | 8,015 | 7,859 | | Netherlands | 2,160 | 5,787 | | United Kingdom | 1,905 | 4,190 | | Mainland China | 2,742 | 3,343 | | Australia | 1,482 | 2,394 | | France | 2,039 | 1,493 | | Germany | 1,230 | 405 | | Others | 42 | 103 | | **Total** | **50,451** | **45,629** | [Other Income](index=19&type=section&id=Other%20Income) Total other income was HK$967 thousand, primarily driven by a significant increase in bank interest income to HK$920 thousand Other Income Details | Income Category | 2024 H1 (HK$ thousand) | 2023 H1 (HK$ thousand) | | :--- | :--- | :--- | | Bank interest income | 920 | 100 | | Miscellaneous income | 47 | 41 | | **Total** | **967** | **141** | [Other Gains and Losses](index=19&type=section&id=Other%20Gains%20and%20Losses) A net exchange gain of HK$651 thousand was recorded, reversing a net exchange loss of HK$587 thousand in the prior period Other Gains and Losses | Indicator | 2024 H1 (HK$ thousand) | 2023 H1 (HK$ thousand) | | :--- | :--- | :--- | | Net exchange gain (loss) | 651 | (587) | [Taxation](index=20&type=section&id=Taxation) No provision for Hong Kong profits tax or PRC enterprise income tax was made due to the absence of assessable profits - For the six months ended June 30, 2024, no provision was made for Hong Kong profits tax as the relevant Group entities had no assessable profits[50](index=50&type=chunk) - No provision was made for PRC enterprise income tax for the period as the relevant Group entities had no assessable income subject to PRC enterprise income tax[50](index=50&type=chunk) [Dividends](index=20&type=section&id=Dividends) No dividends were paid, declared, or proposed for either interim period, and the Directors do not recommend an interim dividend - No dividends were paid, declared, or proposed for either interim period[51](index=51&type=chunk) - The Directors of the Company do not recommend the payment of an interim dividend for the current period[51](index=51&type=chunk) [Loss Per Share](index=20&type=section&id=Loss%20Per%20Share) Basic loss per share increased to HK$0.56 cents; diluted loss per share is not presented due to no potential ordinary shares outstanding Loss Per Share | Indicator | 2024 H1 (HK cents) | 2023 H1 (HK cents) | | :--- | :--- | :--- | | Basic loss per share | (0.56) | (0.54) | - Diluted loss per share is not presented as there were no potential ordinary shares outstanding in either period[52](index=52&type=chunk) [Property, Plant and Equipment](index=21&type=section&id=Property%2C%20Plant%20and%20Equipment) The Group acquired HK$389 thousand in property, plant, and equipment, with no new or renewed leases during the period Property, Plant and Equipment Acquisitions | Indicator | 2024 H1 (HK$ thousand) | 2023 H1 (HK$ thousand) | | :--- | :--- | :--- | | Acquisition of property, plant and equipment | 389 | Nil | - During the period, no leases were renewed or newly entered into[53](index=53&type=chunk) [Trade and Other Receivables](index=21&type=section&id=Trade%20and%20Other%20Receivables) Total trade and other receivables increased to HK$37.1 million, with HK$33.3 million in trade receivables, including HK$4.8 million overdue, but HK$1.5 million over 90 days not in default Trade and Other Receivables | Indicator | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | | :--- | :--- | :--- | | Trade receivables (net of allowance) | 33,302 | 26,974 | | Prepayments and deposits | 3,674 | 2,126 | | **Total Trade and Other Receivables** | **37,115** | **29,239** | Ageing Analysis of Trade Receivables (Net of Allowance) | Ageing | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 9,178 | 7,964 | | 31 to 60 days | 11,427 | 8,750 | | 61 to 90 days | 7,601 | 4,633 | | Over 90 days | 5,096 | 5,627 | | **Total** | **33,302** | **26,974** | - Approximately **HK$1.5 million** overdue by 90 days or more were not considered in default due to the Group's long-term/ongoing relationships with these customers and their good repayment records[55](index=55&type=chunk) [Trade and Other Payables](index=22&type=section&id=Trade%20and%20Other%20Payables) Total trade and other payables increased to HK$19.6 million, with trade payables having credit terms of 30 to 90 days Trade and Other Payables | Indicator | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | | :--- | :--- | :--- | | Trade payables | 12,208 | 9,731 | | Accrued expenses | 4,486 | 5,628 | | Other payables | 2,915 | 1,273 | | **Total Trade and Other Payables** | **19,609** | **16,632** | Ageing Analysis of Trade Payables | Ageing | June 30, 2024 (HK$ thousand) | December 31, 2023 (HK$ thousand) | | :--- | :--- | :--- | | Within 30 days | 10,257 | 7,109 | | 31 to 60 days | 1,435 | 2,406 | | 61 to 90 days | 459 | 194 | | Over 90 days | 57 | 22 | | **Total** | **12,208** | **9,731** | [Share Capital](index=22&type=section&id=Share%20Capital) Authorized share capital is HK$20.0 million, with HK$10.2 million issued and fully paid, comprising 1,020,000 thousand ordinary shares, unchanged since January 1, 2023 Share Capital Structure | Indicator | Number of Shares (thousand shares) | Share Capital (HK$ thousand) | | :--- | :--- | :--- | | Authorized share capital (ordinary shares of HK$0.01 each) | 2,000,000 | 20,000 | | Issued and fully paid (ordinary shares of HK$0.01 each) | 1,020,000 | 10,200 | [Related Party Disclosures](index=23&type=section&id=Related%20Party%20Disclosures) Directors' and key management remuneration was HK$988 thousand, a slight decrease, with no sales transactions with former director-related companies Related Party Transactions | Transaction Type | 2024 H1 (HK$ thousand) | 2023 H1 (HK$ thousand) | | :--- | :--- | :--- | | Remuneration for directors and other key management personnel | 988 | 1,011 | | Sales of paper stationery and packaging products to Tse Wing Hung Company Limited | 0 | 146 | [Fair Value Measurement of Financial Instruments](index=23&type=section&id=Fair%20Value%20Measurement%20of%20Financial%20Instruments) The carrying amounts of the Group's financial assets and liabilities recorded at amortized cost approximate their fair values - The Directors believe that the carrying amounts of the Group's financial assets and liabilities recorded at amortized cost in the condensed consolidated financial statements approximate their fair values[59](index=59&type=chunk) [Events After Reporting Period](index=23&type=section&id=Events%20After%20Reporting%20Period) Post-reporting period, the Group announced its expansion into Sub-Saharan African logistics, initially targeting the commodities industry in Zambia - On August 5, 2024, the Group announced its intention to expand its business into the logistics sector in Sub-Saharan Africa[60](index=60&type=chunk) - The initial focus will be on serving the commodities industry in the region, with plans to first provide logistics services in the Republic of Zambia[60](index=60&type=chunk)

Financial Performance - For the fiscal year 2023, the company reported total revenue of approximately HKD 97.2 million, a decrease of 26.1% compared to HKD 131.6 million in fiscal year 2022[17]. - The loss for fiscal year 2023 was approximately HKD 3.7 million, significantly reduced from a loss of HKD 16.5 million in fiscal year 2022, attributed to a shift in sales strategy focusing on higher-margin customer orders[17]. - The book products segment accounted for approximately 92.2% of total revenue in fiscal year 2023, generating about HKD 89.7 million, down 28.3% from HKD 125.0 million in the previous year[18]. - The group's gross profit for the fiscal year 2023 was approximately HKD 21.6 million, an increase of 181.0% compared to HKD 7.7 million in fiscal year 2022[19]. - The gross profit margin improved from 5.8% in fiscal year 2022 to 22.2% in fiscal year 2023[20]. - The annual loss for fiscal year 2023 decreased to approximately HKD 3.7 million from HKD 16.5 million in fiscal year 2022[26]. - The net profit attributable to the company's owners for the year ended December 31, 2023, was a loss of HKD 3,690,000, compared to a loss of HKD 16,500,000 in 2022[76]. - The basic loss per share for 2023 was HKD 0.36, a decrease from HKD 1.64 in 2022, reflecting a reduction in losses[73]. Shareholder Value and Management - The new controlling shareholder, TeraMetal Holdings Limited, was welcomed in May 2023, marking a new management era and opening up prospects for existing and new business opportunities[13]. - The management expressed confidence in exploring new business avenues with the support of the new controlling shareholder to maximize overall shareholder value[14]. - The company is committed to creating long-term value for shareholders in response to their steadfast support and trust[14]. - The company aims to optimize its sales strategy to maintain competitiveness in the printing industry, despite anticipated ongoing intense competition[14]. Operational Efficiency - The company experienced a notable improvement in profit margins in the second half of fiscal year 2023, despite increased administrative expenses due to rising employee costs and taxes in China[17]. - Sales and distribution costs decreased by approximately 23.2% to about HKD 5.8 million in fiscal year 2023 from HKD 7.6 million in fiscal year 2022[24]. - Administrative expenses rose by approximately 14.3% to about HKD 20.6 million in fiscal year 2023, mainly due to increased employee costs and taxes in China[25]. - Employee costs totaled approximately HKD 34.7 million in FY2023, down from HKD 42.4 million in FY2022, with a workforce increase to 364 employees[48]. Environmental Impact - The company reported a significant increase in nitrogen oxides emissions, rising to 43,403.06 grams in 2023 from 12,670.55 grams in 2022, indicating a substantial increase due to post-pandemic recovery[109]. - Sulfur oxides emissions increased to 105.30 grams in 2023 from 78.54 grams in 2022, reflecting a growing environmental impact[109]. - The total greenhouse gas emissions amounted to 4,386.29 tons of CO2 equivalent in 2023, down from 4,771.85 tons in 2022, achieving an 8% reduction in emissions density[111]. - The company aims to keep total greenhouse gas emissions density between 90% to 120% of the 2023 baseline in the next reporting period[111]. - The company has successfully obtained ISO 14001 environmental management system certification, demonstrating its commitment to sustainable practices[108]. - The company has established a hazardous waste management system to prevent environmental pollution and ensure compliance with relevant laws[113]. Community Engagement and Social Responsibility - The group donated a total of HKD 60,000 to the Hong Kong Aberdeen District Community Service Centre, supporting welfare and social services for the elderly, children, and families[163]. - The company has engaged in various community activities and employee volunteer initiatives to enhance its social responsibility[98]. Corporate Governance - The board believes that combining the roles of Chairman and CEO enhances decision-making efficiency despite deviations from governance codes[182]. - The company plans to regularly review the need for separate individuals to hold the roles of Chairman and CEO to maintain good corporate governance[182]. - The board will continue to monitor and update the company's corporate governance practices to ensure compliance with the corporate governance code[183]. - All directors confirmed full compliance with the standard code of conduct for securities trading during the fiscal year 2023[184]. - The board consists of four executive directors and three independent non-executive directors, with all directors confirming their independence as per listing rules[200].