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佈之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 LEFT FIELD PRINTING GROUP LIMITED 澳澳澳澳獅獅獅獅環環環環球球球球集集集集團團團團有有有有限限限限公公公公司司司司* （於百慕達註冊成立之有限公司） (股份代號：1540) 截截截截至至至至二二二二零零零零二二二二二二二二年年年年十十十十二二二二月月月月三三三三十十十十一一一一日日日日止止止止年年年年度度度度之之之之 業業業業績績績績公公公公佈佈佈佈 經經經經審審審審核核核核業業業業績績績績 澳獅環球集團有限公司（「本公司」）之董事會（「董事會」）謹此提呈本公司及其附屬公司（統稱為「本集 團」）截至二零二二年十二月三十一日止年度之經審核綜合業績，連同截至二零二一年十二月三十一日止年度之 比較數字如下： 綜綜綜綜合合合合損損損損益益益益及及及及其其其其他他他他全全全全面面面面收收收收益益益益表表表表 截截截截至至至至二二二二零零零零二二二二二二二二年年年年十十十十二二二二 ...

Revenue and Profitability - Revenue for the six months ended June 30, 2022, increased by 5.8% to approximately HKD 205,000,000 compared to the previous period[4] - Gross profit increased by approximately HKD 3,300,000 or 8.0% to approximately HKD 44,500,000, driven by revenue growth[9] - Profit before tax decreased by approximately 21.1% to about HKD 13,300,000, primarily due to the cessation of the JobKeeper program and legal expenses incurred during the period[5] - Revenue for the six months ended June 30, 2022, was HKD 204,955,000, an increase of 5.8% compared to HKD 193,644,000 for the same period in 2021[22] - Gross profit for the same period was HKD 44,464,000, representing a gross margin of 21.7%, up from HKD 41,176,000 in 2021[22] - Profit before tax decreased to HKD 13,273,000, down 21.1% from HKD 16,822,000 in the previous year[22] - Net profit for the period was HKD 8,806,000, a decline of 23.5% compared to HKD 11,523,000 in 2021[22] Costs and Expenses - Direct operating costs rose by 5.3% to approximately HKD 160,500,000 due to increased material consumption and direct labor[4] - Administrative expenses increased by approximately 26.7% to about HKD 17,800,000, mainly due to inflation-driven wage adjustments[9] - The operating expenses for the six months ended June 30, 2022, totaled HKD 185,300,000, compared to HKD 169,746,000 in 2021, which is an increase of about 9.1%[53] Financial Position - The company's current ratio decreased to approximately 2.6 times as of June 30, 2022, down from about 4.5 times at the end of 2021[11] - The capital debt ratio as of June 30, 2022, was 6.7%, a decrease from approximately 9.4% at the end of 2021[11] - Total assets as of June 30, 2022, were HKD 370,814,000, a decrease from HKD 360,317,000 as of December 31, 2021[24] - Current assets amounted to HKD 222,230,000, down from HKD 290,772,000 at the end of 2021[24] - The total liabilities as of June 30, 2022, were HKD 49,726,000, with current liabilities at HKD 16,147,000 and non-current liabilities at HKD 33,579,000[65] Cash Flow and Investments - The operating cash inflow for the six months ended June 30, 2022, was HKD 22,292,000, down 20.5% from HKD 28,122,000 in 2021[31] - The net cash used in operating activities for the six months ended June 30, 2022, was HKD 8,079,000, compared to a net cash inflow of HKD 42,025,000 in 2021[31] - The cash outflow for investing activities was HKD 122,164,000 for the six months ended June 30, 2022, significantly higher than HKD 1,973,000 in 2021[31] - The cash and cash equivalents decreased to HKD 29,790,000 at the end of the period from HKD 188,072,000 at the end of the previous year, representing a decline of 84.2%[33] Acquisitions and Business Development - The company completed the acquisition of Ovato's book printing business for an initial consideration of AUD 8,500,000 (approximately HKD 47,175,000) on June 17, 2022[14] - The identifiable assets and liabilities of the acquired business have a total fair value of HKD 31,291,000, with goodwill amounting to HKD 15,884,000[80] - The acquired business generated revenue of HKD 7,617,000 and profit of HKD 1,115,000 since the acquisition date[83] - If the acquisition had occurred on January 1, 2022, the group's revenue and net profit for the six months ended June 30, 2022, would have been HKD 284,640,000 and HKD 5,525,000, respectively[83] Shareholder Information - The total equity held by the directors and senior management in the company represents 64.74% of the issued share capital[96] - Mr. Liu Zhujian holds 78,701,906 personal shares and 266,432,717 corporate shares in Lion Mountain Holdings, totaling 345,134,623 shares, representing 44.82% of the issued shares[101] - As of June 30, 2022, Qingtian Group holds 313,048,997 shares, accounting for 62.78% of the issued share capital[105] - City Apex has a total of 312,530,411 shares, representing 62.67% of the issued share capital[105] Corporate Governance - The company’s board believes it has complied with the corporate governance code during the reporting period[95] - The audit committee reviewed the financial report for the six months ended June 30, 2022, and found it compliant with applicable accounting standards[116] - The company has adopted a standard code for securities transactions by directors, with no known breaches reported for the six months ended June 30, 2022[112]

Financial Performance - The group's revenue for 2021 increased by 17.4% to approximately HKD 387,300,000, compared to HKD 329,900,000 in 2020[21] - Gross profit increased by approximately HKD 29,000,000 or about 59.7%, rising to approximately HKD 77,500,000 in 2021, with a gross margin improvement from 14.7% to 20.0%[25] - Net profit for the group recorded approximately HKD 18,400,000 in 2021, a decrease of about 34.6% from HKD 28,100,000 in the previous year[25] - Other income significantly decreased from approximately HKD 45,900,000 in 2020 to about HKD 6,200,000 in 2021, primarily due to the end of the JobKeeper government subsidy[25] - Revenue for the year ended December 31, 2021, was HKD 387.27 million, an increase of 17.3% from HKD 329.95 million in 2020[163] - Gross profit for the same period was HKD 77.52 million, up 59.7% from HKD 48.55 million in the previous year[163] - Net profit for the year was HKD 18.35 million, a decrease of 34.7% compared to HKD 28.06 million in 2020[163] - Total comprehensive income for the year was HKD 3.00 million, significantly down from HKD 51.18 million in the prior year[163] Cost Management - Direct operating costs rose by 10.1% to HKD 309,700,000, impacting the pre-tax profit which decreased by 34.0% to HKD 26,900,000 due to the conclusion of the JobKeeper program[21] - The group plans to control operating costs and respond flexibly to meet customer needs across all business sectors[22] - The company is focused on monitoring and mitigating the impact of rising raw material costs on publishing clients[20] - The group focused on cost control measures to improve operational efficiency and reduce risks amid the ongoing impact of the COVID-19 pandemic[25] Market Conditions - The management team maintains a cautious outlook for 2022 due to ongoing supply chain disruptions and inflationary pressures in the macroeconomic environment[22] - The demand for educational books remains weak due to government spending pressures and restrictions related to the COVID-19 pandemic[23] - The group continues to face significant challenges from government-imposed lockdowns and the impact of the COVID-19 pandemic on supply chains[21] - The company anticipates ongoing supply chain disruptions exacerbated by rising raw material costs[20] - Economic uncertainty may lead to decreased consumer spending, affecting the demand for non-essential items like books and subsequently reducing customer orders for the company[61] Shareholder Information - The final dividend proposed is HKD 0.03 per share for the year ending December 31, 2021, consistent with the previous year's dividend[63] - As of December 31, 2021, the company's distributable reserves amounted to approximately HKD 175 million, a decrease from HKD 180.3 million as of December 31, 2020[65] - The total equity held by Liu Zhujian amounted to 322,852,275 shares, representing 64.74% of the company's issued share capital[70] - Richard Francis Celarc holds a total of 25,011,987 shares, which accounts for 5.01% of the company's issued share capital[70] Governance and Compliance - The company has adopted governance measures to manage potential conflicts of interest related to Celarc's interests in Ligare (NZ)[81] - The independent non-executive directors confirmed their independence in accordance with the listing rules, ensuring governance standards are upheld[90] - The company has engaged Hong Kong Lixin Dehao CPA Limited as its auditor, with a resolution to renew their appointment at the upcoming annual general meeting[93] - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[102] - The company has maintained compliance with the corporate governance code as of December 31, 2021[95] Operational Efficiency - The company has allocated about HKD 16 million for upgrading the ERP system and IPALM platform, with approximately HKD 2 million and HKD 14 million spent on purchasing servers and developing software, respectively[29] - Approximately HKD 2.8 million was used to expand storage facilities and streamline printing operations to improve overall efficiency[32] - The company has established a competitive salary structure for employees, including bonuses and benefits such as retirement contributions and insurance[92] Financial Position - The group's current ratio was maintained at approximately 4.5 times as of December 31, 2021, calculated based on current assets divided by current liabilities[27] - The capital debt ratio was approximately 9.4% as of December 31, 2021, down from about 11.6% in 2020, reflecting a decrease in interest-bearing debt[27] - Cash and bank balances were approximately HKD 169,900,000 as of December 31, 2021, compared to about HKD 174,800,000 in 2020[25] - The company’s cash and cash equivalents at the end of the year stood at 169,884 thousand HKD, down from 174,752 thousand HKD at the beginning of the year, a decrease of about 2.0%[175] Challenges and Risks - The company has not made any significant machinery purchases during the fiscal year ending December 31, 2021, due to the challenging economic environment[32] - The group must ensure that the financial statements reflect a true and fair view according to International Financial Reporting Standards[155] - The auditors assessed the appropriateness of inventory impairment based on management's estimates and judgments regarding obsolete inventory provisions[147] - The group has assessed expected credit losses considering the economic downturn caused by COVID-19, making estimates more judgmental[188]

Revenue and Profit - Revenue for the six months ended June 30, 2021, increased by 40.8% to approximately HKD 193,600,000 compared to HKD 137,500,000 for the same period last year[4] - Profit before tax for the same period rose by approximately 35.5% to about HKD 16,800,000, with government subsidies contributing approximately HKD 2,200,000 in the first quarter[4] - Gross profit increased by approximately 111.1% from HKD 19,500,000 to HKD 41,200,000, with gross margin improving from 14.2% to 21.3%[6] - Revenue for the six months ended June 30, 2021, was HKD 193,644,000, representing a 40.9% increase from HKD 137,495,000 in the same period of 2020[20] - Gross profit for the same period was HKD 41,176,000, up 111.0% from HKD 19,501,000 year-on-year[20] - Profit for the period was HKD 11,523,000, an increase of 27.0% compared to HKD 9,068,000 in the previous year[20] - Basic and diluted earnings per share for the period were HKD 0.023, compared to HKD 0.018 in the same period last year[20] - Total comprehensive income for the period was HKD 5,537,000, compared to a loss of HKD 711,000 in the same period of 2020[20] Expenses and Costs - Administrative expenses increased slightly by approximately HKD 400,000 to HKD 14,100,000, reflecting stable cost control measures[6] - Other income decreased significantly from approximately HKD 17,800,000 to HKD 3,900,000 due to the conclusion of government subsidy programs[6] - The company reported operating expenses of HKD 169,746,000 for the six months ended June 30, 2021, compared to HKD 132,465,000 in 2020, reflecting a rise of 28%[53][54] - The company incurred interest expenses of HKD 799,000 for the six months ended June 30, 2021, compared to HKD 722,000 in 2020, which is an increase of 11%[57] - The depreciation and amortization expenses for the six months ended June 30, 2021, were HKD 11,870,000, compared to HKD 10,309,000 in 2020, reflecting an increase of 15%[48] Taxation - The effective tax rate increased from 27.0% to 31.5%, with tax expenses rising from HKD 3,400,000 to HKD 5,300,000[6] - The total tax expense for the six months ended June 30, 2021, was HKD 5,299,000, compared to HKD 3,350,000 in 2020, representing an increase of 58%[60] Cash Flow and Liquidity - The company remains cautious about revenue expectations for the second half of 2021 due to ongoing economic impacts from COVID-19[4] - The net current assets as of June 30, 2021, were approximately HKD 236,500,000, with cash and bank balances totaling about HKD 188,100,000[6] - The group maintains a healthy cash reserve and has sufficient funding commitments from major financial institutions to meet short-term and long-term liquidity needs[8] - For the six months ended June 30, 2021, the operating cash inflow was HKD 42,025,000, a significant increase of 133.5% compared to HKD 17,983,000 in the same period of 2020[29] - The net cash flow from operating activities for the six months ended June 30, 2021, was HKD 48,511,000, up from HKD 25,601,000 in 2020, reflecting a growth of 89.3%[29] - The total cash and cash equivalents at the end of June 30, 2021, amounted to HKD 188,072,000, an increase of 32.5% from HKD 141,773,000 at the end of June 30, 2020[32] Assets and Liabilities - The group's current ratio is approximately 5.0 times as of June 30, 2021, compared to about 4.5 times as of December 31, 2020[8] - The group's interest-bearing liabilities decreased to approximately HKD 28.1 million as of June 30, 2021, down from approximately HKD 34.2 million as of December 31, 2020[8] - The capital debt ratio as of June 30, 2021, was 9.8%, a decrease from 11.6% as of December 31, 2020, due to the repayment of lease liabilities[8] - Total assets as of June 30, 2021, were HKD 314,876,000, down from HKD 327,558,000 at the end of 2020[23] - The company reported a decrease in trade receivables to HKD 56,803,000 from HKD 72,511,000 at the end of 2020, indicating improved collection efficiency[23] - The total liabilities decreased from HKD 34,163,000 as of December 31, 2020, to HKD 28,109,000 as of June 30, 2021, a reduction of 17.7%[71] Investments and Capital Expenditure - Approximately HKD 45.2 million of the net proceeds has been utilized, including HKD 9 million for purchasing digital printing machines and HKD 10.8 million for expanding binding capacity[12] - The group has allocated approximately 57.2% of the net proceeds for machinery purchases, amounting to HKD 38 million[14] - The group has spent HKD 1 million on expanding storage facilities and streamlining printing facilities to improve overall efficiency[16] - The group has invested approximately HKD 16 million in upgrading the ERP system and IPALM platform, with HKD 2 million for server equipment and HKD 14 million for software development[12] Shareholder Information - The company did not declare any dividends for the period, maintaining cash reserves for future investments[25] - The company approved an interim dividend of HKD 0.02 per share for the six months ended June 30, 2021, totaling HKD 9,973,000, compared to no interim dividend in the same period of 2020[75] - The board has proposed an interim dividend of HKD 0.02 per share for the year ending June 30, 2021, compared to no dividend for the previous year[107] Employee and Corporate Governance - The group employed 260 full-time employees as of June 30, 2021, down from 281 employees a year earlier[104] - The company has adopted a standard code for securities trading, ensuring compliance among all directors[103] - The audit committee reviewed the interim report for the six months ending June 30, 2021, and confirmed it complies with applicable accounting standards[108]

Financial Performance - The group's revenue for 2020 was approximately HKD 329.9 million, a decrease of 18.9% compared to HKD 406.7 million in 2019[26] - Profit before tax fell by 11.5% to HKD 40.7 million[26] - Gross profit decreased by approximately HKD 45.3 million or about 48.2% to approximately HKD 48.5 million in 2020, with a gross margin reduction of about 8.4% compared to the previous year[31] - Net profit for the group in 2020 was approximately HKD 28.1 million, down from HKD 32.1 million in the previous year, a decrease of about 12.7%[31] - The group's distributable reserves as of December 31, 2020, were approximately HKD 180.3 million, a decrease from HKD 188.3 million in 2019[88] Operating Costs and Expenses - Direct operating costs decreased by 10.1% to HKD 281.4 million from the previous year[26] - Administrative expenses decreased by approximately HKD 2.5 million to approximately HKD 28.8 million in 2020, representing a year-on-year decline of about 8.1%[31] - The company plans to control operating costs and position its businesses appropriately to remain flexible in responding to customer needs[25] - The Australian government's JobKeeper program provided financial support, helping the group manage operating costs effectively[20] Economic Environment and Challenges - The economic environment in Australia faced significant challenges due to COVID-19, leading to a contraction of 7% in domestic economic growth during the June quarter[20] - The management team maintains a cautious outlook for 2021 due to ongoing uncertainties related to COVID-19 and its impact on the macroeconomic environment[25] - The group's business segments, particularly in educational and professional printing, showed resilience during the pandemic, while government and commercial printing faced more volatility[26] Shareholder and Governance Matters - The company plans to distribute a final dividend of HKD 0.03 per share for the year ending December 31, 2020, down from HKD 0.05 per share in the previous year[84] - The company has established effective relationships with stakeholders, including customers and suppliers, to ensure mutual benefits and service excellence[84] - The company has a strong board with members holding significant qualifications, including over 40 years of experience in finance and accounting[60][61][62] - The independent directors provide oversight and independent opinions to the board, ensuring robust governance practices[60][61][62] Risk Management and Internal Controls - The company has established a risk management and internal control system, which is regularly monitored to ensure effectiveness and compliance with relevant regulations[148] - An independent qualified accountant conducts an annual review of the internal control system, with no significant deficiencies found during the latest assessment[149] - The company has no internal audit function but relies on independent reviews to assess the effectiveness of its risk management and internal control systems[149] Human Resources and Development - The company employed 268 full-time staff as of December 31, 2020, compared to 282 in 2019, indicating a reduction in workforce[39] - The management emphasizes the importance of training and development, with team members completing various professional courses to enhance their skills[66][67] - Continuous professional development training was provided to all newly appointed directors to ensure they understand the company's business and regulatory requirements[153] Future Plans and Strategic Initiatives - The company plans to seek the best use of remaining net proceeds to maximize shareholder returns amid challenging economic conditions[48] - The company is focused on expanding its market presence through strategic business development initiatives led by experienced managers[70] - The company is committed to sustainable operations and compliance with environmental regulations, which is integral to its corporate social responsibility strategy[84] Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements of the company fairly reflect its financial position as of December 31, 2020, in accordance with International Financial Reporting Standards[194] - The company has complied with the disclosure requirements of the Hong Kong Companies Ordinance in preparing its financial statements[194] - The audit was conducted based on the Hong Kong Auditing Standards, ensuring the independence of the auditors from the company[195]

Financial Performance - The company's revenue for the six months ended June 30, 2020, decreased by approximately 34.8% to about HKD 137,500,000 compared to HKD 210,800,000 for the same period last year[7] - Gross profit fell by approximately HKD 31,000,000 or 61.4%, down to about HKD 19,500,000, with a gross margin decrease of about 9.8%[11] - The company recorded a profit of approximately HKD 9,100,000, a decrease of about HKD 8,700,000 or 49.0% compared to HKD 17,800,000 for the same period last year[16] - Revenue for the six months ended June 30, 2020, was HKD 137,495 thousand, a decrease of 34.7% compared to HKD 210,776 thousand in 2019[40] - Gross profit for the same period was HKD 19,501 thousand, down 61.5% from HKD 50,537 thousand in 2019[40] - Profit before tax decreased to HKD 12,418 thousand, a decline of 50.1% from HKD 24,881 thousand in the previous year[40] - Net profit for the period was HKD 9,068 thousand, down 48.9% from HKD 17,764 thousand in 2019[40] - Total comprehensive income for the period was a loss of HKD 711 thousand, compared to a gain of HKD 9,619 thousand in 2019[40] - Basic and diluted earnings per share decreased to HKD 0.018, down from HKD 0.035 in the previous year[40] - EBITDA for the company was HKD 20,073,000 for the six months ended June 30, 2020, down from HKD 31,992,000 in 2019, reflecting a decline of about 37.2%[76] - The company reported a profit before tax of HKD 12,418,000 for the six months ended June 30, 2020, compared to HKD 24,881,000 in 2019, indicating a decrease of approximately 50%[76] Income and Expenses - Other income significantly increased from approximately HKD 5,000,000 to about HKD 17,800,000, primarily due to the JobKeeper Payment Scheme providing about HKD 12,500,000 in government subsidies[12] - Administrative expenses decreased by about 15.0% to approximately HKD 13,700,000, attributed to cost control measures despite some increases in insurance costs[14] - The company incurred a total tax expense of HKD 3,350,000 for the six months ended June 30, 2020, down from HKD 7,117,000 in 2019, indicating a reduction of about 52.8%[90] - The company reported a total other income of HKD 15,043,000 for the six months ended June 30, 2020, compared to HKD 2,707,000 in 2019, showing a significant increase[81] Assets and Liabilities - As of June 30, 2020, the company's net current assets were approximately HKD 193,000,000, down from about HKD 209,900,000 as of December 31, 2019[17] - Non-current assets as of June 30, 2020, totaled HKD 85,194 thousand, a decrease from HKD 88,845 thousand as of December 31, 2019[42] - Current assets decreased to HKD 141,773 thousand from HKD 163,370 thousand at the end of 2019[42] - Total liabilities decreased to HKD 247,404 thousand from HKD 274,784 thousand at the end of 2019[42] - Equity as of June 30, 2020, was HKD 246,474 thousand, down from HKD 272,530 thousand at the end of 2019[42] Cash Flow - For the six months ended June 30, 2020, the operating cash flow before tax profit was HKD 12,418,000, a decrease of 50.1% compared to HKD 24,881,000 in 2019[51] - The net cash inflow from operating activities was HKD 25,601,000, an increase of 24.5% from HKD 20,531,000 in the previous year[51] - The net cash generated from operating activities after tax payments was HKD 17,983,000, up 20.0% from HKD 14,903,000 in 2019[51] - The cash outflow for investing activities was HKD 1,887,000, a significant improvement from HKD 4,766,000 in the previous year[54] - The financing cash outflow totaled HKD 31,067,000, an increase of 5.3% from HKD 29,508,000 in 2019[54] - The cash and cash equivalents at the end of the period were HKD 141,773,000, compared to HKD 138,954,000 at the end of the previous year, reflecting a slight increase of 1.3%[54] Operational Changes - The management team remains cautious about future earnings due to the ongoing economic uncertainty caused by the COVID-19 pandemic[7] - The group plans to adopt a more conservative approach to cash flow management due to reduced printing demand caused by the COVID-19 pandemic, delaying further purchases of digital printing machines[30] - The group has postponed plans to expand storage facilities or streamline printing facilities due to challenging economic conditions and reduced demand from major clients[36] - The group acquired approximately HKD 700,000 in properties, plants, and equipment during the period, a significant decrease from HKD 4,900,000 in the same period last year[25] Shareholder Information - As of June 30, 2020, total trade receivables amounted to HKD 46,820,000, a decrease from HKD 51,710,000 as of December 31, 2019, representing a decline of approximately 9.1%[102] - The company did not declare an interim dividend for the six months ended June 30, 2020, compared to an interim dividend of HKD 15,207,000 for the same period in 2019[110] - Major shareholder Qingtian Group holds 313,048,997 shares, accounting for 61.76% of the issued share capital[126] - The company reported a total of 317,134,741 shares held by its directors and senior management, representing 62.56% of the issued share capital as of June 30, 2020[120] Governance and Compliance - The board confirmed compliance with the corporate governance code as per the Hong Kong Stock Exchange listing rules for the six months ended June 30, 2020[119] - The audit committee consists of four members, including one non-executive director and three independent non-executive directors, ensuring compliance with applicable accounting standards[135] - The company reviewed its interim report for the six months ending June 30, 2020, and confirmed that it meets applicable accounting standards with sufficient disclosures[135] - There were no reported breaches of the standard code of conduct for securities trading by directors during the six months ended June 30, 2020[132] Employee Information - The group employed approximately 281 full-time employees as of June 30, 2020, a decrease from 305 employees a year earlier[133]

Financial Performance - The group's revenue for the fiscal year ended December 31, 2019, was approximately AUD 76.1 million, a decrease of about 4.2% compared to AUD 79.4 million in 2018[14] - Direct operating costs decreased by approximately 4.8% to about AUD 58.5 million, while the pre-tax profit remained stable at approximately AUD 8.6 million, compared to AUD 8.5 million in the previous year[14] - Gross profit slightly decreased by about AUD 400,000 or approximately 2.0% to about AUD 17.5 million, with a gross margin improvement to approximately 23.0% from 22.5% in the previous year[18] - Other income significantly decreased from approximately AUD 8.0 million in 2018 to about AUD 2.5 million in 2019, primarily due to a one-time gain from the deregistration of a foreign subsidiary in 2018[19] - Selling and distribution costs decreased by approximately AUD 700,000 or 10.9% to about AUD 5.3 million, attributed to lower freight costs and cost control measures[20] - Administrative expenses decreased by approximately AUD 700,000 to about AUD 5.9 million, a year-on-year reduction of about 10.2%[21] - The group recorded a profit of approximately AUD 6.0 million in 2019, a decrease of about AUD 1.4 million or 19.4% compared to AUD 7.4 million in 2018[25] Economic Outlook - The management team anticipates a challenging economic environment in 2020, particularly due to the potential impacts of the COVID-19 pandemic[15] - The group is focusing on managing operating costs based on performance and collaborating with other clients to recover revenue losses[15] - The company aims to continue providing excellent service in the industry, adapting to trends in content delivery formats and shorter delivery times[15] Assets and Liabilities - As of December 31, 2019, the group's net current assets were approximately AUD 39.2 million, a decrease from AUD 40.8 million in 2018[26] - The current ratio was approximately 4.2 times, down from 4.7 times in 2018, indicating a decrease in liquidity[27] - The group's interest-bearing debt was approximately AUD 5.4 million, significantly up from AUD 0.5 million in 2018, primarily due to the adoption of IFRS 16[27] - Capital expenditure for the year was approximately AUD 1 million, a decrease from AUD 4.9 million in 2018[31] Use of Proceeds - As of the report date, approximately HKD 31.2 million of the net proceeds from the share issuance had been utilized, with specific allocations for equipment purchases and system upgrades[42] - Approximately 57.2% of the net proceeds were allocated for machinery purchases, totaling around HKD 41.9 million originally planned, with HKD 38 million actually allocated[43] - The upgrade of the ERP system and IPALM platform accounted for 24.1% of the net proceeds, with HKD 17.7 million originally planned and HKD 16 million actually allocated[43] Workforce - The group employed 282 full-time employees as of December 31, 2019, down from 301 in 2018[39] - The capital-to-debt ratio was approximately 10.5%, a significant increase from 0.9% in 2018, reflecting a change in financial structure[27] Market Conditions - The company’s sales are largely dependent on customer demand for printing solutions, which can fluctuate based on various factors including new book publications and legislative activities[76] - The main raw material for the company's operations is paper, with prices subject to volatility and potential shortages, impacting profitability if costs cannot be passed on to customers[77] - The rise of electronic media and devices is changing information consumption patterns, potentially affecting demand for printed products[78] - The overall market is experiencing a downturn, leading to a decrease in demand for non-essential products like books, which may result in fewer customer orders for the company[81] Corporate Governance - The company has adopted corporate governance measures to manage potential conflicts of interest related to Mr. Celarc's involvement with Ligare Limited[126] - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[160] - The board held four meetings and one annual general meeting in 2019, with all directors attending all meetings[167] - The company confirmed compliance with all applicable principles and provisions of the Corporate Governance Code during the year ended December 31, 2019[153] - The independent non-executive directors confirmed their independence in accordance with the listing rules[142] Risk Management - The company has established a robust risk management and internal control system to manage significant risks[173] - The independent qualified accountant conducted an annual review of the internal control system, finding no significant deficiencies, indicating that the system is effective and adequate[174] - The company has not established an internal audit function but will continue to assess the need for one annually[174] Shareholder Information - The board has proposed a final dividend of HKD 0.05 per share for the year ending December 31, 2019, consistent with the previous year's dividend[91] - Bookbuilders BVI holds 344,521,734 shares, representing 67.97% of the total issued share capital of the company[117] - Mr. Liu holds a total of 331,804,623 shares, which accounts for 43.09% of the total issued share capital[110] - The top five suppliers accounted for approximately 57% of total procurement, with the largest supplier representing 17%[120] - The top five customers contributed about 38% of total sales, with the largest customer accounting for 12%[120]

Financial Performance - Revenue for the six months ended June 30, 2019, was approximately AUD 38.8 million, a decrease of about 0.2% compared to AUD 38.9 million for the same period last year[6] - Profit before tax decreased by approximately 33.2% to about AUD 4.6 million, primarily due to the absence of a one-time gain of AUD 4.8 million recorded in the previous period[6] - Gross profit decreased by about AUD 200,000 or approximately 2.5% to AUD 9.3 million, despite cost-sharing arrangements reducing subcontracting costs[6] - Other income significantly decreased from approximately AUD 5.7 million to about AUD 900,000, mainly due to the one-time gain from the cancellation of a foreign subsidiary's registration not recurring[8] - Net profit for the period was approximately AUD 3.3 million, a decrease of about 48.0% compared to AUD 6.3 million for the same period last year[8] - EBITDA is used as a measure to assess the performance of operating segments, consistent with internal financial reporting[66] - The company's EBITDA for the six months ended June 30, 2019, was AUD 5,884,000, a decrease of 9.5% from AUD 7,610,000 in the same period of 2018[67] - The company reported a pre-tax profit of AUD 4,580,000 for the six months ended June 30, 2019, down from AUD 6,857,000 in the same period of 2018, reflecting a decrease of 33.2%[67] - Basic earnings per share for the six months ended June 30, 2019, were AUD 3,270,000, compared to AUD 6,291,000 in the same period of 2018, indicating a decline of 48.0%[85] Operating Costs and Expenses - Direct operating costs increased by approximately 0.5% to about AUD 29.5 million due to rising input and manufacturing costs[6] - Tax expenses increased from approximately AUD 600,000 (effective tax rate: 8.3%) to about AUD 1.3 million (effective tax rate: 28.6%) due to the previous one-time gain not being present[8] - Operating expenses for the printing solutions segment were AUD 32,707,000, which is an increase from AUD 33,725,000 in the previous year[71] - The company incurred finance costs of AUD 38,000 for the six months ended June 30, 2019, compared to AUD 27,000 in the same period of 2018[77] Assets and Liabilities - As of June 30, 2019, the group's net current assets amounted to approximately AUD 39.1 million, down from AUD 40.8 million as of December 31, 2018[12] - The group's cash and bank balances, along with pledged deposits, totaled approximately AUD 27 million as of June 30, 2019, compared to AUD 30.7 million as of December 31, 2018[12] - Total assets as of June 30, 2019, were AUD 51,540 thousand, a slight decrease from AUD 51,732 thousand at the end of 2018[22] - Total liabilities increased by 2,479 thousand AUD due to the recognition of lease liabilities[45] - The net book value of property, plant, and equipment decreased to AUD 9,161,000 as of June 30, 2019, down from AUD 9,744,000 at the beginning of the year, reflecting a decline of approximately 6%[28] Cash Flow - Operating cash inflow for the six months ended June 30, 2019, was AUD 6,054,000, an increase of 8.5% compared to AUD 5,576,000 in 2018[29] - Net cash used in operating activities for the six months ended June 30, 2019, was AUD 2,355,000, a significant improvement from a cash outflow of AUD 401,000 in 2018[29] - Cash and cash equivalents at the end of the period were AUD 25,973,000, up from AUD 19,338,000 in the previous year, representing a 34.5% increase[31] - Total financing cash outflow for the six months ended June 30, 2019, was AUD 5,490,000, compared to AUD 3,994,000 in 2018, indicating a 37.5% increase[31] Investments and Capital Expenditures - During the period, the group acquired approximately AUD 9 million in property, plant, and equipment, an increase from approximately AUD 7 million in the previous period[14] - The group allocated approximately 57.2% of the net proceeds for machinery purchases, with an actual allocation of approximately HKD 38 million[16] - The group plans to upgrade its ERP system and IPALM platform, with approximately HKD 16 million allocated for this purpose[16] Shareholder Information - The company declared a proposed final dividend of AUD 7,899 thousand for the period[24] - The company declared an interim dividend of AUD 2,886,000 for the six months ended June 30, 2019, with a dividend per share of 3 Hong Kong cents[106] - The board has proposed an interim dividend of HKD 0.03 per share for the year ending June 30, 2019, with no interim dividend paid to OPUS Group Limited shareholders in 2018[131] Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules during the six months ended June 30, 2019[113] - The audit committee reviewed the financial report for the six months ending June 30, 2019, and confirmed compliance with applicable accounting standards[133] - The company has adopted a standard code for the trading of its securities by directors, with no known breaches reported for the six months ending June 30, 2019[127] Employee Information - The company has approximately 305 full-time employees as of June 30, 2019, compared to 301 employees as of June 30, 2018, indicating a growth in workforce[128] - The company's short-term compensation for key management personnel decreased to AUD 118,000 in 2019 from AUD 207,000 in 2018, representing a decline of 42.9%[111] - The total remuneration for key management personnel, including post-employment benefits, was AUD 129,000 in 2019, down from AUD 217,000 in 2018, a decrease of 40.4%[111] Accounting Standards and Policies - The adoption of IFRS 16 resulted in an increase of 2,913 thousand AUD in right-of-use assets[45] - The company has adopted the cumulative effect method for the application of IFRS 16, adjusting the retained earnings at the beginning of the first application date (January 1, 2019) without restating prior year comparative figures[58] - The company recognized lease liabilities at the present value of remaining lease payments discounted using the incremental borrowing rate as of January 1, 2019[58] Market and Segment Information - The company identified a reportable segment, namely Printing Solutions and Services, which provides digital and offset printing along with other business services[62] - The Printing Solutions and Services segment has expanded its service capabilities to include web hosting, electronic fulfillment arrangements, on-demand printing, and digital asset management[63] - The primary operating decision-makers do not use geographical segmentation for revenue reporting due to excessive costs associated with such segmentation[64]

Financial Performance - In 2018, the company reported revenue of approximately AUD 79.4 million, representing a year-on-year growth of about 0.2%[8] - The company's profit before tax rose by approximately 7.2% to AUD 8.5 million, primarily due to a one-time gain of AUD 4.8 million from the deregistration of a foreign subsidiary[8] - The gross profit for the year was approximately AUD 17.9 million, slightly decreasing by about AUD 100,000 or 0.6% from the previous year[12] - The gross profit margin remained stable at approximately 23% compared to the previous year[12] - Net profit for the year was approximately AUD 7,400,000, an increase of about 30.9% compared to AUD 5,700,000 in the previous year[14] - Adjusted net profit for the year, excluding non-recurring listing expenses, was approximately AUD 6,000,000, up about 4.8% from the previous year[14] - Total revenue for the year ended December 31, 2018, was AUD 79,398,000, an increase from AUD 79,206,000 in 2017, representing a growth of 0.24%[179] - Gross profit for 2018 was AUD 17,887,000, slightly down from AUD 17,993,000 in 2017, indicating a decrease of 0.59%[179] - The net profit for the year was AUD 7,449,000, up from AUD 5,690,000 in 2017, reflecting an increase of 31.03%[179] Operational Efficiency - Direct operating costs increased by approximately 0.5% to around AUD 61.5 million[8] - Capital investment decisions made in 2018 are expected to enhance operational efficiency, particularly in the reading book sector[9] - There are signs of a rebound in demand for short delivery educational books, especially in the primary and secondary markets[9] - The company continues to face challenges from rising input costs, including paper and energy prices, exacerbated by changes in the Australian political landscape[4] Financial Position - As of December 31, 2018, the group's current assets net value was approximately AUD 40,800,000, compared to AUD 29,100,000 as of December 31, 2017[17] - The group's cash and bank balances amounted to approximately AUD 30,700,000, an increase from AUD 25,700,000 in the previous year[17] - The current ratio improved to approximately 4.7 times, up from about 3.0 times as of December 31, 2017[17] - Total assets as of December 31, 2018, amounted to AUD 51,732,000, compared to AUD 43,362,000 in 2017, showing a growth of 19.88%[181] - The company's equity totalled AUD 52,640,000 in 2018, an increase from AUD 35,990,000 in 2017, representing a rise of 46.19%[184] - The company’s total liabilities decreased from AUD 14,274,000 in 2017 to AUD 10,897,000 in 2018, a reduction of 23.00%[181] Capital Expenditure - Capital expenditure for the year was approximately AUD 4,900,000, compared to AUD 1,800,000 in the previous year[19] - HKD 6.4 million was spent on purchasing two digital printing machines, two binding machines, and one pre-press machine to replace existing equipment[24] - HKD 6.2 million was allocated for the purchase of a binding machine to expand production capacity[24] - HKD 2.3 million was invested in upgrading the ERP system and IPALM platform, including approximately HKD 400,000 for server equipment and HKD 1.9 million for software development and purchase[24] Shareholder Information - The company reported a final dividend of HKD 0.05 per share for the year ended December 31, 2018, compared to AUD 0.01 per share for the previous year[55] - As of December 31, 2018, the company's distributable reserves amounted to approximately AUD 33.3 million, a significant increase from zero the previous year[57] - The total amount raised from the share issuance was approximately HKD 105,000,000, with net proceeds of about HKD 66,500,000 after deducting related listing expenses[20] Corporate Governance - The board of directors has been restructured, with several new appointments made in 2018, indicating a potential shift in strategic direction[64] - The company has implemented corporate governance measures to manage potential conflicts of interest arising from related party transactions[87] - The independent non-executive directors have reviewed related party transactions and confirmed compliance with the relevant listing rules[89] - The company successfully listed on the Hong Kong Stock Exchange on October 8, 2018, adopting the Corporate Governance Code and Corporate Governance Report as per the listing rules[100] - The board consists of seven members as of December 31, 2018, including three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced mix of skills and experience[103] Risk Management - The company has established a continuous procedure to identify, assess, and manage significant risks[112] - The board believes that the risk management and internal control systems are adequate and effective[114] - The audit committee's main functions include overseeing the relationship with external auditors and reviewing the effectiveness of the group's risk management and internal control systems[131] Market Challenges - The prices of raw materials, particularly paper, are subject to fluctuations and periodic shortages, which can significantly impact the company's business and profitability if costs cannot be passed on to customers[47] - The increasing popularity of electronic information and media may affect the demand for printed products, thereby impacting the company's printing solutions and services[48] - The overall market is experiencing a downturn, leading to a potential decrease in demand for non-essential products like books, which may result in reduced customer orders for printing services[52] Employee Information - The group employed approximately 301 full-time staff as of December 31, 2018, an increase from 292 staff in the previous year[19] - The company encourages directors to participate in professional development courses related to corporate governance and compliance with listing rules[120] Audit and Compliance - The audit committee met once formally to discuss the nature and scope of the audit with external auditors[132] - The total fees for audit-related services provided by the auditor and its network companies amounted to AUD 521,000 for the year ended December 31, 2018[135] - The audit opinion confirms that the consolidated financial statements fairly present the group's financial position as of December 31, 2018[151]