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。 Pan Asia Data Holdings Inc. 聯 洋 智 能 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1561） 截 至2022年12月31日 止 年 度 的 經 審 核 業 績 公 告 聯洋智能控股有限公司（「本公司」）的董事「( 董事」)會（「董事會」）欣然 宣佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至2022年12月31日 止 年 度 的 經 審 核綜合業績連同截至2021年12月31日止年度的比較數字如下： 綜合損益表 截至2022年12月31日止年度 2022年 2021年 附註 千港元 千港元 收入 4 827,832 608,158 收入成本 (478,289) (417,669) ...

Revenue and Profitability - The consolidated revenue for the six months ended June 30, 2022, was approximately HKD 415.6 million, an increase of about 95.2% compared to HKD 212.94 million in 2021[9]. - Revenue from big data services amounted to approximately HKD 201.73 million, up from HKD 18.22 million in 2021[9]. - Revenue from third-party payment services reached approximately HKD 30.82 million, a significant increase of about 847.1% from HKD 3.25 million in 2021[21]. - The profit from the paint business increased to approximately HKD 28,768,000 for the six months ended June 30, 2022, compared to HKD 20,448,000 in 2021[23]. - The group's gross profit increased to approximately HKD 175,301,000 with a gross margin of about 42.2%, up from 25.2% in 2021, primarily due to the launch of a big data service business[28]. - The company reported a loss before tax of HKD 54,899,000, a substantial improvement from a loss of HKD 675,532,000 in the prior year[139]. - The net loss for the period was HKD 49,611,000, compared to a net loss of HKD 516,841,000 in the same period last year, reflecting a reduction of 90.4%[139]. Expenses and Costs - R&D expenses increased significantly to approximately HKD 85,876,000 for the six months ended June 30, 2022, up from HKD 7,931,000 in 2021, attributed to the big data service business[29]. - The group’s administrative expenses increased to approximately HKD 128,371,000 for the six months ended June 30, 2022, compared to HKD 68,295,000 in 2021[29]. - The group’s financing costs increased to approximately HKD 25,652,000 for the six months ended June 30, 2022, up from HKD 22,677,000 in 2021, mainly due to increased borrowings[29]. Assets and Liabilities - The group's cash and cash equivalents were approximately HKD 241,557,000 as of June 30, 2022, compared to HKD 238,016,000 as of December 31, 2021[43]. - Non-current assets were approximately HKD 786,054,000 as of June 30, 2022, down from HKD 815,423,000 as of December 31, 2021[44]. - As of June 30, 2022, the total debt of the group was approximately HKD 765,933,000, an increase from HKD 752,950,000 as of December 31, 2021[45]. - The group's asset-to-debt ratio was approximately 162.8% as of June 30, 2022, compared to 135.5% as of December 31, 2021[46]. - The total liabilities decreased to HKD 549,790 thousand from HKD 614,005 thousand, indicating a reduction in financial obligations[149]. Shareholder Information - The company has decided not to declare an interim dividend for the six months ended June 30, 2022[11]. - As of June 30, 2022, the total number of issued shares of the company was 761,483,665 shares[107]. - Timenew Limited, fully owned by Mr. Li Xiaoru, holds 217,297,714 shares, representing 28.54% of the company's equity[106]. - The company granted a total of 26,260,000 stock options, which accounts for 3.33% of the expanded issued share capital as of June 30, 2022[97]. Corporate Governance - The company has applied principles and complied with the corporate governance code as of June 30, 2022, except for the separation of roles between the chairman and CEO[120]. - The company has not established a CEO position, with daily operations managed by executive directors and senior management[120]. - Ms. Liu Rongrong resigned as an executive director on April 8, 2022[98]. Future Outlook and Strategy - The company is considering options regarding its third-party payment services segment, including the potential sale of its entire interest in this category[22]. - The group aims to deepen the development of big data analytics and expand market share through continuous optimization and upgrading of products and services[55].

Financial Performance - For the year ended December 31, 2021, the consolidated revenue of Pan Asia Data Holdings Inc. was approximately HKD 608.16 million, a decrease of about 2.2% compared to HKD 622.07 million in 2020[16]. - The revenue generated from big data services was approximately HKD 172.84 million for the year ended December 31, 2021, while revenue from third-party payment services was approximately HKD 26.73 million, down from HKD 291.30 million in 2020[16]. - The revenue from the manufacturing and trading of coatings was approximately HKD 408.59 million, an increase from HKD 330.76 million in 2020[16]. - The loss attributable to the owners of the company for the year ended December 31, 2021, was approximately HKD 238.68 million, a significant reduction from HKD 627.68 million in 2020[16]. - The loss per share for the year was approximately HKD 0.33, compared to HKD 0.93 in 2020[17]. - The group’s overall gross profit increased to approximately HKD 190,489,000, with a gross margin of about 31.3%, up from 22.0% in 2020[32]. - The group reported other income of approximately HKD 5,223,000 for the year, compared to a loss of HKD 1,465,000 in 2020, mainly due to gains from step acquisitions[32]. - The group recognized a tax credit of approximately HKD 162,072,000 for the year ended December 31, 2021, compared to HKD 233,342,000 in 2020, primarily related to deferred tax liabilities from adjustments to the fair value of goodwill and other intangible assets[33]. - The group recognized an impairment loss of approximately HKD 631,594,000 related to intangible assets for the Mao Hong cash-generating unit for the year ended December 31, 2021[58]. Business Development - The company successfully established a cloud platform for AI-enabled algorithm solutions in retail finance, marking a significant milestone in its business development[9]. - The company aims to strengthen product research and development and customer expansion to enhance product competitiveness and market share[10]. - The company reported a rapid growth in both customer base and revenue, achieving a cumulative revenue of over RMB 180 million in 2021[9]. - The company is focused on compliance and leveraging technology to optimize products and services, creating value for customers and shareholders[13]. - The company is committed to expanding its leading position in the digital transformation of the financial sector in China[10]. - The company has successfully constructed an independent SaaS/PaaS cloud platform for retail financial applications[77]. - The company has successfully established an independent SaaS/PaaS cloud platform for AI-enabled algorithm solutions in retail finance, signing contracts with leading banks and consumer finance companies in China, laying a stable performance foundation for 2022[81]. Investments and Acquisitions - The company completed the acquisition of LYGR Group on June 2, 2021, for approximately HKD 93,294,000, acquiring 7,172 shares at an issue price of HKD 1.35 per share[22]. - The company completed the acquisition of a 54.22% indirect interest in a domestic operating company on June 2, 2021[77]. - The group acquired a 23.33% stake in LYGR for approximately HKD 93,294,000, resulting in a total indirect ownership of 54.22% post-acquisition[60]. - The average revenue growth rate for LYGR is projected to be approximately 65.9% from fiscal year 2022 to 2026[61]. - The actual consolidated revenue for LYGR as of December 31, 2021, is approximately HKD 223,486,000[62]. Financial Position - As of December 31, 2021, the net asset value per share attributable to the owners of the company was approximately HKD 0.3, unchanged from 2020[18]. - As of December 31, 2021, non-current assets were approximately HKD 815,432,000, down from HKD 1,104,740,000 in 2020, including property, plant, and equipment of approximately HKD 169,033,000[45]. - The net value of current assets was approximately HKD 354,157,000 as of December 31, 2021, compared to HKD 75,361,000 in 2020[45]. - As of December 31, 2021, the total debt of the group was approximately HKD 752,950,000, an increase from HKD 695,749,000 in 2020[46]. - The group's debt-to-equity ratio was approximately 135.5% as of December 31, 2021, compared to 82.7% in 2020[47]. - The group’s net debt-to-equity ratio was approximately 52.8% as of December 31, 2021, compared to 14.0% in 2020[47]. - The current ratio, calculated as current assets divided by current liabilities, was approximately 1.6 times as of December 31, 2021, up from 1.1 times in 2020[47]. Research and Development - R&D expenses increased to approximately HKD 67,579,000 for the year ended December 31, 2021, compared to HKD 16,265,000 in 2020, primarily due to growth in big data service classification expenses starting in June 2021[33]. Corporate Governance - The board of directors consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors[181]. - The independent non-executive directors confirmed their independence in accordance with the listing rules, and the company believes all independent non-executive directors are independent[170]. - The company has complied with all corporate governance code provisions, except for specific provisions mentioned in the report[179]. - The board is responsible for formulating overall strategy and monitoring the group's performance, while management is tasked with day-to-day operations[190]. - The chairman and CEO roles are separated to ensure a balance of power and effective governance within the company[194]. - The company has implemented a board diversity policy, considering factors such as gender, age, cultural background, and professional experience to enhance performance[196]. - The company has arranged training for directors to update them on their roles and responsibilities, as well as changes in governance and regulatory requirements[192]. Shareholder Information - The company did not recommend a final dividend for the year ended December 31, 2021, consistent with 2020[19]. - The company has maintained sufficient reserves for future development while aiming to provide continuous returns to shareholders[99]. - The company has adopted a remuneration policy for employees based on merit, qualifications, and capabilities, while the remuneration for directors and senior management is determined by the remuneration committee based on operational performance and market statistics[172]. - The company has not purchased, sold, or redeemed any of its listed securities during the year, except for the issuance mentioned above[168]. - The total revenue from the top five customers accounted for approximately 33.4% of the group's total revenue, with the largest customer contributing about 7.4%[169]. - The group made donations amounting to approximately HKD 1,890,000 during the year, compared to HKD 2,647,000 in 2020[173]. Employee Information - The group employed 826 staff as of December 31, 2021, an increase from 794 in 2020[56].

Financial Performance - The consolidated revenue for the six months ended June 30, 2021, was approximately HKD 212,940,000, a decrease of about 41.5% compared to HKD 363,744,000 in 2020, primarily due to a significant reduction in third-party payment services[10]. - Revenue from big data services amounted to approximately HKD 18,218,000 for the six months ended June 30, 2021, compared to none in 2020[10]. - Revenue from third-party payment services was approximately HKD 3,254,000, down approximately 98.6% from HKD 230,614,000 in 2020[19]. - The loss attributable to owners of the company increased to approximately HKD 159,363,000 for the six months ended June 30, 2021, compared to HKD 36,172,000 in 2020[10]. - The net loss for the six months ended June 30, 2021, was HKD 516,841,000, significantly higher than the loss of HKD 19,751,000 in 2020[126]. - Basic and diluted loss per share for the period was HKD 23.15, compared to HKD 5.42 in the previous year[122]. - Gross profit for the same period was HKD 53,743,000, down 37.9% from HKD 86,479,000 in 2020[122]. - The group reported a profit from its associate company of approximately HKD 18,499,000 for the six months ended June 30, 2021, compared to HKD 3,963,000 in 2020, due to the termination of low-margin products[25]. Dividends and Shareholder Actions - The company did not declare or recommend an interim dividend for the six months ended June 30, 2021[12]. - The company did not declare or pay any dividends for the six months ended June 30, 2021, consistent with the same period in 2020[188]. - The company must seek shareholder approval if the total stock options granted exceed 1% of the issued shares[87]. Acquisitions and Investments - The acquisition of LYGR was completed on June 2, 2021, with the company purchasing 7,172 shares at an issue price of HKD 1.35 per share, resulting in a total issuance of 69,106,895 new ordinary shares[16]. - LYGR contributed approximately HKD 18,218,000 in revenue and approximately HKD 8,077,000 in profit for the big data services category for the six months ended June 30, 2021[16]. - The company completed the acquisition of an additional 23.33% interest in LYGR for approximately HKD 93,294,000, increasing its ownership to 54.22%[190]. - The group has invested approximately HKD 50.5 million in its new manufacturing facility in Vietnam as of June 30, 2021, with a total expected investment of VND 149,986 million[25]. Financial Position and Assets - The net asset value per share as of June 30, 2021, was HKD 0.3, unchanged from December 31, 2020[11]. - As of June 30, 2021, the group's total non-current assets amounted to approximately HKD 799,353,000, a decrease from HKD 1,104,740,000 as of December 31, 2020[41]. - Total assets as of June 30, 2021, were HKD 1,014,751,000, slightly up from HKD 998,439,000 at the end of 2020[134]. - The company's equity attributable to owners was HKD 232,215,000, down from HKD 379,437,000 at the end of 2020[134]. - The group’s total liabilities as of June 30, 2021, were approximately HKD 760,419,000, up from HKD 695,749,000 as of December 31, 2020[42]. - The debt-to-equity ratio was approximately 124.3% as of June 30, 2021, compared to 82.7% as of December 31, 2020[43]. - The current ratio was approximately 0.9 times as of June 30, 2021, down from 1.1 times as of December 31, 2020[43]. Operational Segments - The group reported total external revenue of HKD 212,940,000 for the six months ended June 30, 2021, with contributions from big data services (HKD 18,218,000), third-party payment services (HKD 3,254,000), and coatings (HKD 191,468,000)[159]. - The coatings segment generated sales of HKD 191,468,000, with liquid coatings contributing HKD 176,234,000 and powder coatings contributing HKD 15,234,000[159]. - The group has begun engaging in big data services since the step acquisition of Lian Yang Guo Rong Holdings Limited on June 2, 2021[155]. - The group’s revenue classification has been updated to reflect the new operational segments, including big data services, third-party payment services, and coatings[155]. Impairment and Losses - The group recognized an impairment loss of approximately HKD 631,594,000 for other intangible assets for the six months ended June 30, 2021, compared to no impairment in 2020[20]. - The company reported a significant impairment loss of HKD 631,594,000 on intangible assets during the period[122]. - The group incurred a loss of HKD 516,841,000 for the same period, with a significant loss in the third-party payment services segment amounting to HKD 657,993,000[159]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of HKD 31,482,000 for the six months ended June 30, 2021, compared to HKD 160,157,000 for the same period in 2020[147]. - The company’s cash flow from financing activities showed a net inflow of HKD 27,018,000, compared to an outflow of HKD 84,197,000 in the previous year[147]. - The group’s financing costs decreased to approximately HKD 22,677,000 for the six months ended June 30, 2021, down from HKD 26,346,000 in 2020, mainly due to a reduction in the balance of acceptance bills[27]. Corporate Governance and Compliance - The company has complied with the corporate governance code as of June 30, 2021, except for a specific provision[112]. - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance for the six months ended June 30, 2021[121]. - The company is required to comply with the People's Bank of China regulations regarding reserve funds for third-party payment accounts[197].

Business Performance - The company faced significant challenges in its paint manufacturing business in 2020 due to the COVID-19 pandemic and escalating tensions between the US and China, prompting the establishment of a new manufacturing facility in Vietnam to diversify production bases [6]. - The third-party payment business experienced a substantial decline in financial performance compared to 2019, attributed to increased regulatory scrutiny, intensified competition, and market fragmentation [7]. - For the year ended December 31, 2020, the group's total revenue was approximately HKD 622,068,000, a decrease of about 14.9% compared to HKD 730,699,000 in 2019 [20]. - The group reported a loss attributable to owners of approximately HKD 627,682,000 for the year ended December 31, 2020, compared to a loss of HKD 23,309,000 in 2019 [14]. - The earnings per share for the year ended December 31, 2020, was approximately HKD 0.934, a significant decline from HKD 0.038 in 2019 [15]. - The net asset value per share attributable to owners was approximately HKD 0.30 as of December 31, 2020, down from HKD 1.10 in 2019 [16]. - Revenue from third-party payment services was approximately HKD 291,304,000, a decrease of about 1.5% from HKD 295,674,000 in 2019, with a significant loss of approximately HKD 1,256,897,000 reported [23]. - The paint business revenue decreased to approximately HKD 330,764,000, a decline of about 24.0% from HKD 435,025,000 in 2019, despite an increase in segment profit to approximately HKD 57,727,000 [30]. - The group recognized impairment losses on goodwill and other intangible assets amounting to approximately HKD 1,247,492,000 for the year ended December 31, 2020 [31]. - The group's gross profit decreased to approximately HKD 136.76 million (2019: HKD 207.78 million), with a gross margin of about 22.0% (2019: 28.4%) due to significant reductions in third-party payment services and manufacturing activities [32]. Strategic Initiatives - The company successfully established a competitive advantage in big data analytics, transitioning to a SaaS/PaaS cloud platform for AI-enabled solutions in retail finance, with notable clients including major Chinese banks and a global banking leader [7]. - The company signed a legal agreement to further acquire rights and control over LYGR, positioning itself to capitalize on high-growth trends driven by domestic economic development [10]. - The company aims to enhance shareholder value while creating social value for the broader Chinese society amidst the evolving regulatory landscape [10]. - The company has initiated trial operations at its new manufacturing facility in Vietnam as of early 2021 [6]. - The company plans to regularly review its business operations and financial status to optimize resource allocation and explore potential growth opportunities [75]. - The company aims to enhance long-term shareholder value by leveraging the high-growth trends driven by China's expanding retail consumer demand [74]. Regulatory and Market Environment - The shift towards a "dual circulation" economic model in China has accelerated domestic consumption, with consumer credit playing a crucial role, thereby increasing demand for AI-enabled digital risk management solutions [8]. - New regulatory measures in retail finance have created significant business opportunities for independent big data analysis providers, with a potential market experiencing rapid expansion [10]. - The demand for AI-enabled algorithm solutions in the insurance sector has significantly accelerated due to increased awareness of the importance of protection among the Chinese population [8]. - The demand for AI-enabled algorithm solutions in the insurance value chain has significantly accelerated due to the pandemic and government measures [72]. - Lian Yang Group is positioned to capitalize on the growing consumer credit risk control market, with an increasing balance of approximately RMB 1.7 trillion in consumer credit [73]. Financial Position and Capital Management - As of December 31, 2020, the group's total debt was approximately HKD 695.75 million (2019: HKD 589.13 million), including borrowings of approximately HKD 500.00 million [42]. - The group's asset-liability ratio was approximately 82.7% (2019: 32.9%), calculated as total debt divided by total equity [43]. - The net cash raised from the issuance of 14,288,000 new ordinary shares at HKD 3.50 per share amounted to approximately HKD 49.8 million, intended for new business development and general working capital [36]. - The group's non-current assets decreased to approximately HKD 1,104.74 million (2019: HKD 2,326.85 million), with significant reductions in intangible assets [41]. - The current ratio as of December 31, 2020, was approximately 1.1 times (2019: approximately 1.6 times), indicating a decline in liquidity [43]. - The company reported a reserve available for distribution to shareholders of approximately HKD 309,462,000 as of December 31, 2020, compared to HKD 293,029,000 in 2019, reflecting an increase of about 5.0% [94]. Corporate Governance and Management - The company has maintained a focus on environmental, social, and governance (ESG) policies, which are crucial for its operational success [87]. - The company has a strong management team with extensive experience in finance and investment, which is critical for strategic decision-making [85]. - The company has established a remuneration policy for employees based on merit, qualifications, and capabilities [130]. - The board consists of five members, including two executive directors and three independent non-executive directors [144]. - The company has implemented a board diversity policy, considering factors such as gender, age, and professional experience to enhance performance [159]. - The company has arranged appropriate liability insurance for directors and senior officers to protect against legal actions arising from corporate activities [156]. - The company has established three committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, to assist the board in fulfilling its responsibilities [166]. Shareholder Engagement and Communication - The company expressed gratitude to shareholders, clients, and employees for their support and contributions [11]. - The board of directors attended the 2019 Annual General Meeting, confirming their commitment to shareholder engagement [200]. - The company maintains communication with shareholders through annual and interim reports, circulars, and announcements [200]. Research and Development - The company has engaged in significant research and development activities, which are essential for innovation and market expansion [87]. Acquisitions and Investments - The acquisition of Mao Hong Group, which provides digital payment services, was completed for approximately HKD 746,632,000, resulting in goodwill of about HKD 338,250,000 and other intangible assets of approximately HKD 1,535,339,000 [49]. - Due to increased regulatory scrutiny and intensified competition, the financial performance of Mao Hong Group significantly declined compared to 2019, leading to impairment losses of approximately HKD 338,250,000 for goodwill and HKD 909,242,000 for other intangible assets [50]. - The average revenue growth rate for Mao Hong Group is projected to be around 11.8% from FY2020 to FY2024, with gross margins between 48.6% and 50.5% [51]. - The actual consolidated revenue for Mao Hong Group for the year ended December 31, 2020, was approximately HKD 291,304,000 [56]. Risk Management - The risk management and internal control system is structured with a clear management framework, policies, and reporting mechanisms to manage various business risks [192]. - The risk management team identifies and evaluates significant risks at least once a year, developing mitigation plans for major risks identified [195]. - The board of directors is responsible for overseeing the effectiveness of the risk management and internal control systems [195]. - The company has established a whistleblowing policy to enhance monitoring awareness among employees regarding potential misconduct [195].

联洋智能 PAD Pan Asia Data Holdings Inc. 聯洋智能控股有限公司 (前稱 Manfield Chemical Holdings Limited 萬輝化工控股有限公司) (於開曼群島註冊成立的有限公司) 股份代號: 1561 中期報告 2020 目 錄 公司資料2 | --- | --- | |-------------------------------|-------| | | | | 管 理 層 討 論 及 分 析 | | | 其 他 資 料 披 露 | | | 獨 立 審 閱 報 告 | | | 簡 明 綜 合 損 益 表 | | | 簡 明 綜 合 全 面 收 益 表 | | | 簡 明 綜 合 財 務 狀 況 表 | | | 簡 明 綜 合 權 益 變 動 表 | | | 簡 明 綜 合 現 金 流 量 表 | | | 簡 明 綜 合 財 務 報 表 附 註 | | | | | | --- | --- | |---------------------------------|-----------------------------------| | 公司資料 董事會 ...

Financial Performance - The consolidated revenue for the year ended December 31, 2019, was approximately HKD 730,699,000, representing an increase of about 71.4% compared to HKD 426,346,000 in 2018[10] - The loss attributable to owners of the company for the year was approximately HKD 23,309,000, compared to a profit of HKD 8,563,000 in 2018[10] - The loss per share for the year was approximately HKD 0.038, compared to earnings of HKD 0.014 per share in 2018[11] - The net asset value per share attributable to owners of the company was approximately HKD 1.1 as of December 31, 2019, compared to HKD 1.0 in 2018[12] - For the year ended December 31, 2019, the group's gross profit increased to approximately HKD 207,784,000, up from HKD 85,341,000 in 2018, with a gross margin of approximately 28.4%, compared to 20.0% in 2018[28] - Administrative expenses rose to approximately HKD 119,519,000 in 2019, compared to HKD 63,300,000 in 2018, primarily due to an increase in employee costs and legal expenses[26] - The group's distribution and selling expenses increased to approximately HKD 53,304,000 in 2019 from HKD 38,591,000 in 2018, driven by the financial performance of the new third-party payment services business[26] - The company reported a reserve available for distribution to shareholders of approximately HKD 293,029,000 as of December 31, 2019, compared to HKD 136,346,000 in 2018, representing an increase of 115.5%[64] Revenue Segments - Revenue from the manufacturing and trading of coatings was approximately HKD 435,025,000, while revenue from third-party payment services was approximately HKD 295,674,000, which was not present in 2018[10] - The third-party payment services segment contributed approximately HKD 295,674,000 in revenue for the year ended December 31, 2019, with a profit of about HKD 95,544,000, marking a significant increase from 2018 when there was no contribution[16] - The paint business generated revenue of approximately HKD 435,025,000 for the year ended December 31, 2019, representing a growth of about 2.0% compared to HKD 426,346,000 in 2018, with a profit of approximately HKD 40,864,000[22] Acquisitions and Investments - The company completed two acquisitions during the year to strengthen its position in the digital industry, with a focus on data analytics for retail financial services in China[6] - The acquisition of 51% of Mao Hong Information Technology Holding Limited was completed on August 9, 2019, and its financial performance has been included in the consolidated financial statements since that date[16] - The company completed the Maohong transaction on August 9, 2019, and the Lianyang transaction on December 31, 2019, which focuses on big data mining, modeling, and retail financial services[43] - The Lianyang transaction is viewed as a valuable opportunity in big data risk management services for retail financial services, aligning with the company's overall interests[43] - The company plans to establish a manufacturing facility in Vietnam with a total investment of approximately VND 149,986 million (around USD 6.5 million) to diversify production and mitigate local regulatory impacts[24] Challenges and Future Outlook - The board anticipates that the coating business will face more challenges in the current year due to the impact of the global pandemic and ongoing trade tensions[7] - The company anticipates high raw material and labor costs in 2020, compounded by potential escalation in US-China trade tensions and the extreme impact of the COVID-19 pandemic, indicating a challenging year ahead[42] - The company aims to enhance market competitiveness by implementing price reductions and improving customer service and technical support in response to the adverse effects of the US-China trade tensions[22] Corporate Governance - The company has complied with applicable laws and regulations in all significant aspects during the year, including those related to environmental protection and product quality[56] - The company’s independent non-executive directors have extensive backgrounds in finance and management, enhancing governance and oversight[68] - The company’s board of directors includes experienced professionals from various sectors, contributing to strategic decision-making[68] - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience to enhance performance quality[130] - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[116] Shareholder Information - No final dividend was recommended for the year ended December 31, 2019[13] - The board does not recommend the payment of a final dividend for the year ended December 31, 2019, consistent with the previous year[59] - The company encourages shareholder participation in annual general meetings, allowing for proxy representation if shareholders cannot attend[173] - The next annual general meeting is scheduled for June 19, 2020, with notifications sent at least 20 business days prior[173] Risk Management - The company has established a risk management framework to identify, assess, and manage significant risks impacting business objectives[164] - The risk management team is required to identify risks at least once a year and develop mitigation plans for significant risks[164] - The Board confirmed the effectiveness of the risk management and internal control systems[166] Environmental, Social, and Governance (ESG) - The company’s annual report includes an environmental, social, and governance report, highlighting its commitment to sustainable practices[56] - The ESG working group is tasked with managing risks related to environmental, social, and governance issues and evaluating the effectiveness of the management systems[186] - The company has identified significant environmental, social, and governance issues, including product responsibility and anti-corruption measures[193] Employee and Talent Management - The company has implemented a share incentive plan to attract and retain talent in a competitive market[7] - The company adopted a share incentive plan on January 9, 2020, aimed at recognizing contributions and attracting suitable individuals for further development[79] - The remuneration of directors and senior management is determined based on operational performance, individual performance, and relevant market statistics[108] - As of December 31, 2019, the group employed 769 employees, an increase from 641 in 2018, ensuring compensation aligns with market conditions and individual performance[40]

MANFIELD Manfield Chemical Holdings Limited 萬 輝 化 工 控 股 有 限 公 司 (於開曼群島註冊成立之有限公司) 股份代號: 1561 中期報告 萬輝化工控股有限公司(「本公司」之董事會(「董事會」宣佈本公司及其附屬公司(統稱[本 集團J)截至2019年6月30日止六個月之未經審核綜合業績速同2018年同期之比較數字 如下： 簡明綜合損益表 截至2019年6月30日止六個月 | --- | --- | --- | --- | |---------------------------------------|-------|------------------------------------------------|--------------------------| | | 附註 | 截至6月30日止六個月 \n2019年 千港元 (未經審核) | 2018年 千港元 (未經審核) | | 收益 銷售成本 | 3 | 190,576 (163,819) | 199,119 (162,913) | | 毛利 | | 26,757 | 36,206 | | 其 ...

Financial Performance - The group's consolidated revenue for the year ended December 31, 2018, was HKD 426,346,000, an increase of 13.95% compared to HKD 374,161,000 in 2017[10]. - Profit attributable to shareholders increased by approximately 40.26% to HKD 8,563,000, up from HKD 6,105,000 in 2017, primarily due to increased gross profit from new product launches and higher sales to associated companies[10]. - The gross profit for the year ended December 31, 2018, rose to HKD 85,341,000, with an overall gross margin of 20.02%, compared to 17.47% in 2017[15]. - Earnings per share for the year ended December 31, 2018, were HKD 0.014, compared to HKD 0.010 in 2017[11]. - The revenue of the joint venture, 卡秀堡輝, increased by 3.84% to HKD 620,122,000 in the reporting year, while the group's share of profit decreased by approximately 38.17% to HKD 8,401,000[20]. Sales Performance - Sales of liquid coatings increased by 16.89% to HKD 286,017,000, while sales of powder coatings decreased by 2.59% to HKD 23,140,000[18]. Dividends and Shareholder Returns - The company did not recommend a final dividend for the year ended December 31, 2018, compared to a dividend of HKD 0.025 per share in 2017[13]. - The company reported a final dividend of HKD 15,000,000 or HKD 0.025 per share for the year ended December 31, 2017, and an interim dividend of HKD 12,000,000 or HKD 0.02 per share for the period ended June 30, 2018[68]. Assets and Liabilities - As of December 31, 2018, the group's non-current assets amounted to HKD 309,671,000, a slight decrease from HKD 311,430,000 in 2017[46]. - The group's current assets net value decreased to HKD 304,309,000 as of December 31, 2018, down from HKD 343,932,000 in 2017[46]. - The group has no bank borrowings as of December 31, 2018, maintaining a stable financial position[47]. Investments and Future Plans - The company invested approximately HKD 7,700,000 in the second phase of production facility construction at the Guangzhou plant, which is expected to be completed by the end of 2019[17]. - The company plans to explore suitable locations outside China for new factory construction to capitalize on investment opportunities as many toy industry clients relocate production bases overseas[18]. - The acquisition of 51% equity in Mao Hong Information Technology Holding Limited is underway, with completion expected by March 2019[21]. Workforce and Management - The group employed 641 staff as of December 31, 2018, a decrease from 682 in 2017, reflecting adjustments in workforce management[50]. - The company is reviewing its business operations and financial status to formulate future business development strategies, which may include asset sales, acquisitions, and restructuring[54]. Corporate Governance - The board consists of six members, including one executive director, two non-executive directors, and three independent non-executive directors, ensuring a balanced structure for independence[117]. - The company has complied with all corporate governance code provisions, except for specific provisions related to the separation of roles between the chairman and CEO, and the training of newly appointed directors[110][111][113]. - The company has established three board committees, including the remuneration committee, nomination committee, and audit committee, to oversee various aspects of the group's affairs[139]. Risk Management - The company has established a risk management framework involving the board of directors, audit committee, and risk management team to oversee risk management and internal control systems[164]. - The risk management team conducts annual assessments to identify and prioritize significant risks affecting the company's business objectives[169]. - The audit committee reviews the adequacy and effectiveness of the risk management and internal control systems[167]. Shareholder Communication - The company has a communication policy in place to maintain various channels of communication with shareholders[192]. - The next annual general meeting is scheduled for June 26, 2019, with prior notice sent to shareholders at least 20 business days in advance[193]. - The company maintains an investor relations website that provides updated information on board members, committee charters, and other relevant documents[200].