有關訴訟之最新狀況 本公告乃由杭品生活科技股份有限公司（「本公司」）根據香港聯合交易所有限公 司證券上市規則（「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部內幕消息條文而作出。 謹此提述本公司日期為二零二零年九月二日、二零二零年九月二十五日、二零二一 年二月八日、二零二一年四月二十三日、二零二三年八月二十九日、二零二三年九 月二十六日、二零二四年六月十三日及二零二四年七月五日有關訴訟、登記及 判決之公告（「該等公告」）。除另有界定者外，本公告所用詞彙與該等公告所界定 者具有相同涵義。 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。 HANG PIN LIVING TECHNOLOGY COMPANY LIMITED 杭 品 生活 科 技 股 份 有限 公 司 （於百慕達註冊成立的有限公司） （股份代號：1682） 內幕消息 杭品生活科技股份有限公司 總裁兼執行董事 林繼陽 香港，二零二五年五月十二日 1 於本公告日期，董 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部 分內容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。 HANG PIN LIVING TECHNOLOGY COMPANY LIMITED 杭 品 生 活 科 技 股 份 有 限 公 司 （於百慕達註冊成立的有限公司） （股份代號：1682） 須予披露交易 收購上市證券 收購事項 於二零二五年五月七日，收購方，為本公司之間接全資附屬公司，在公開市場上以總代 價約6,030,000港元（不包括交易成本），按每股中國石油股份約6.03港元之平均價格 收購合共1,000,000股中國石油股份。 上市規則之涵義 由於上市規則第14.07條下有關收購事項之一項或以上的適用百分比率超過5%但全部低 於25%，根據上市規則第十四章，收購事項構成本公司之須予披露交易，因此須遵守上 市規則之申報及公告規定。 收購事項 於二零二五年五月七日，收購方，為本公司之間接全資附屬公司，在公開市場上以總代 價約6,030,000港元（不包括交易成本），按每股中國石油股份約6.03港元之平 ...

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的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示概不就因本公佈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。 Hang Pin Living Technology Company Limited 杭品生活科技股份有限公司 （於百慕達註冊成立之有限公司） （股份代號：1682） 更改香港股份過戶登記分處 杭品生活科技股份有限公司 (「本公司」) 董事會宣佈, 自二零二五年二月 二十八日起, 本公司之香港股份過戶登記分處將更改為: - 卓佳證券登記有限公司 香港夏慤道 16 號 遠東金融中心 17 樓 電話 : (852) 2980 1333 傳真 : (852) 2810 8185 由二零二五年二月二十八日起, 有關本公司之股份過戶及登記手續將由卓 佳證券登記有限公司辦理。 於二零二五年二月二十七日下午四時三十分後 仍未領取之股票, 可於二零二五年二月二十八日起從卓佳證券登記有限公 司領取。 承董事會命 杭品生活科技股份有限公司 林繼陽 行政總裁兼執行董事 香港, 二零二五年一月二十七日 截至本公告日期，本公司執行 ...

Corporate Governance and Board Structure - The company's Board Chairman position has been vacant since July 31, 2020, and the Board currently has no intention to fill this position[9] - The company has not established an internal audit function due to considerations of scale and cost-effectiveness, but the Audit Committee reviews the internal control system annually[11] - The company has not arranged insurance for legal proceedings against its directors, as it believes the risk of such proceedings is relatively low[12] - The company has established a code of conduct for directors' securities transactions, which is not less stringent than the standards set by the Model Code[29] - Mr. Lin resigned as an independent non-executive director of Time Service Limited on December 2, 2024[31] Financial Performance and Results - Revenue for the six months ended September 30, 2024, was HK$44.026 million, a decrease from HK$61.051 million in the same period in 2023[65] - Gross profit for the period was HK$582 thousand, down from HK$1.9 million in the previous year[65] - Profit before tax for the six months ended September 30, 2024, was HK$3.779 million, compared to a loss of HK$2.15 million in the same period in 2023[65] - Cash and cash equivalents increased to HK$69.483 million as of September 30, 2024, up from HK$60.238 million at the end of March 2024[68] - The company's net current assets stood at HK$91.126 million as of September 30, 2024, compared to HK$87.029 million at the end of March 2024[68] - Total equity increased to HK$91.87 million as of September 30, 2024, from HK$88.091 million at the end of March 2024[68] - The company's clothing procurement segment generated HK$44.026 million in revenue, while the financial services segment recorded a loss of HK$23 thousand[77] - Other income and gains for the period amounted to HK$8.577 million, up from HK$3.275 million in the same period in 2023[65] - The company's administrative and operating expenses decreased to HK$5.301 million from HK$7.242 million in the previous year[65] - The company's total assets as of September 30, 2024, were HK$100.396 million, compared to HK$104.687 million at the end of March 2024[68] - Revenue from apparel procurement was HKD 59.726 million, while financial services contributed HKD 1.325 million, totaling HKD 61.051 million for the six months ended September 30, 2023[86] - Segment performance showed a profit of HKD 2.798 million from apparel procurement and HKD 1.296 million from financial services, with a total segment profit of HKD 4.094 million[86] - Other income and gains/losses for the six months ended September 30, 2024, totaled HKD 8.577 million, compared to HKD 3.275 million in the same period in 2023[87] - The company recorded a profit attributable to owners of HKD 3.779 million for the six months ended September 30, 2024, compared to a loss of HKD 2.150 million in the same period in 2023[93] - Trade receivables from customer contracts amounted to HKD 7.092 million as of September 30, 2024, down from HKD 13.646 million as of March 31, 2024[101] - Trade payables decreased to HKD 6.993 million as of September 30, 2024, from HKD 13.500 million as of March 31, 2024[103] - Basic and diluted earnings per share were calculated based on a profit of HKD 3.779 million and a weighted average number of ordinary shares of 785,927,000[93] - Group revenue decreased by 26.29% to approximately HKD 44,026,000, primarily due to weak retail demand in China[192] - Gross profit margin decreased by 1.79 percentage points to 1.32%[192] - Administrative and operating expenses decreased by 26.80% to approximately HKD 5,301,000[192] - Profit attributable to owners of the company was approximately HKD 3,779,000, compared to a loss of HKD 2,150,000 in the previous year[192] - Total assets as of September 30, 2024, were approximately HKD 101,140,000, with cash and cash equivalents of HKD 69,483,000[193] Investments and Dividends - The company did not purchase, redeem, or sell any of its listed securities during the reporting period[9] - The company's major investments as of September 30, 2024, include a 50% stake in Proud Sun International Limited, held by Mr. Wu Lianghao and Mr. Yu Xueming[25] - The company received dividends of approximately HKD 297,000 from 500,000 shares of China National Offshore Oil Corporation[35] - The company received dividends of approximately HKD 1,105,000 from 2,800,000 shares of China Construction Bank Corporation[35] - The company received dividends of approximately HKD 268,000 from 850,000 shares of Industrial and Commercial Bank of China[35] - The company received dividends of approximately HKD 257,000 from 1,150,000 shares of Bank of China[35] - The company sold 1,000,000 shares of China Construction Bank Corporation in the open market, generating proceeds of approximately HKD 1,162,000[36] - The company sold 850,000 shares of Industrial and Commercial Bank of China in the open market, generating proceeds of approximately HKD 276,000[36] - The company sold 400,000 shares of Bank of China in the open market, generating proceeds of approximately HKD 204,000[36] - The Board of Directors does not recommend the payment of any interim dividend for the six months ended September 30, 2024[58] - The company did not declare or propose any dividends for the six months ended September 30, 2024[91] - The company holds investments in China Ocean Oil Limited, China Construction Bank Corporation, Industrial and Commercial Bank of China Limited, and Bank of China Limited, with varying share quantities and values as of September 30, 2024[145] Legal and Regulatory Matters - The company is involved in a legal case where it is required to pay approximately RMB 48,400,000 (equivalent to HKD 52,600,000) due to a judgment registration under the Mainland Judgments (Reciprocal Enforcement) Ordinance[116] - The company applied to deregister the judgment on September 22, 2023, and on June 13, 2024, the High Court ruled to suspend the registration[117] - The plaintiff has filed an appeal against the High Court's decision, as notified on July 5, 2024[118] Employee and Operational Costs - The company's employee costs (excluding directors' remuneration) were approximately HKD 2,343,000 during the reporting period[56] - The company had approximately 16 employees (excluding directors) as of September 30, 2024[56] Market and Economic Conditions - The company's garment procurement business faced challenges due to weak domestic demand and slower GDP growth in China, with Q2 2024 GDP growth slowing to 4.7% from 5.3% in Q1[161] - Hong Kong's retail sector struggled with reduced local consumption due to increased outbound travel and lower nighttime foot traffic compared to pre-pandemic levels[163] - The IMF's October 2024 World Economic Outlook predicts global economic growth will remain stable at 3.2% in 2024 and 2025, with adjustments in forecasts for the US, Europe, and emerging markets[167] - Hong Kong's real GDP grew by 1.8% year-on-year in Q3 2024, with a cumulative growth of 2.6% for the first three quarters[168] - China's social retail sales grew by 3.7% year-on-year in H1 2024, with department store and brand specialty store sales declining by 3.0% and 1.8% respectively[183] - China's GDP growth is projected to decline from 5.2% in 2023 to 4.8% in 2024 and further to 4.5% in 2025[189] - The apparel industry faced challenges from inflation, geopolitical tensions, and trade barriers, leading to slower export recovery[183] - Consumer confidence in China remained low due to weak real estate market and employment conditions, impacting overall domestic demand[183] Business Strategy and Diversification - The company is exploring business diversification opportunities, including financial services, to enhance its product and service systems and capture market share in China and Hong Kong[165] - The company's financial services business, launched in 2018, focuses on expanding strategic layouts in mainland China and Hong Kong to diversify revenue sources[165] - The group terminated domestic lease agreements and sold assets, shifting to a light-asset business model to reduce inventory pressure and operational costs[191] - The group expects marginal improvement in consumer trends in China due to government policies aimed at boosting the real estate market and domestic demand[191] - The group maintains strict control over supply chain quality to ensure consistent product quality[191] - The group is actively seeking new business opportunities to expand profit channels and enhance shareholder returns[191] - The company implemented a new supplier selection process to address market challenges, focusing on financially stable and reputable suppliers[184] Financial Services and Lending - The company's financial services business generates income and profit through interest income from lending activities[186] - The company uses a Debt-to-Income (DTI) ratio as a decision-making tool, rejecting loan applications with a DTI exceeding 80% unless approved by the board, and the DTI must not exceed 90% under any circumstances[150] - The company actively manages post-loan risks by monitoring borrower repayments, conducting regular communication, and reviewing loan credit limits and borrower asset values quarterly[150] - No borrowers defaulted on interest or principal payments, and no loans were written off during the fiscal year ending March 31, 2024, and the six months ending September 30, 2024[166] - The company's lending business, operated by subsidiary Jin Gaofeng, focuses on secured and unsecured loans to individuals and companies in Hong Kong and China[186] Liquidity and Financial Position - The company maintains sufficient funds for existing business development, with a healthy liquidity position[173] - The group has no bank or other borrowings, maintaining a strong liquidity position[194] - The company's current ratio improved significantly to 10.83:1 as of September 30, 2024, compared to 5.93:1 on March 31, 2024[173] - The company's operating funds are mainly financed through internally generated cash flows, with most cash balances held in USD, HKD, and RMB deposits at major international financial institutions[147] Accounting and Financial Reporting - The Audit Committee reviewed the unaudited interim financial statements for the six months ended September 30, 2024, including the accounting principles and practices adopted by the group[13] - The company applied revised Hong Kong Financial Reporting Standards effective from April 1, 2024, with no material impact on financial performance[80] - The company's credit period to customers typically ranges from 30 to 150 days[98] - The company has issued and fully paid 785,927,000 ordinary shares with a par value of HKD 0.01 each as of September 30, 2024[111]

( 於百慕達成立之有限公司 ) ( 股份代號 : 1682) 百慕達主要股份登記及過戶處之變更 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 HANG PIN LIVING TECHNOLOGY COMPANY LIMITED 杭 品 生 活 科 技 股 份 有 限 公 司 Conyers Corporate Services (Bermuda) Limited Clarendon House, 2 Church Street Hamilton HM11 Bermuda 卓佳秘書商務有限公司（「卓佳」）仍為本公司之香港股份登記及過戶處，而於香港 進行股份過戶登記的申請須送交卓佳，其地址為香港夏愨道16號遠東金融中心17樓。 承董事會命 杭品生活科技股份有限公司 林繼陽 行政總裁兼執行董事 香港, 二零二四年十二月十二日 截至本公告日期，本公司執行董事為林繼陽先生、吳凱先生及張凱原先生；獨立非 執行董事為陳健先生、周致人先生及黃冰芬女士。 杭品生活科 ...

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。 HANG PIN LIVING TECHNOLOGY COMPANY LIMITED 杭 品 生 活 科 技 股 份 有 限 公 司 ( 於百慕達註冊成立的有限公司 ) （股份代號：1682） 更改總部及香港主要營業地點之地址 杭品生活科技股份有限公司 行政總裁兼執行董事 林繼陽 香港，二零二四年十二月六日 於本公告日期，董事會包括執行董事林繼陽先生、吳凱先生及張凱原先生；獨立非執 行董事陳健先生、周致人先生及黃冰芬女士。 杭品生活科技股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈， 自二零二四年十二月七日起，本公司之總部及香港主要營業地點之地址將更改 為： 香港 上環 干諾道中168-200號 信德中心西座 33樓3309室 本公司之聯繫電話號碼和傳真號碼將維持不變。 承董事會命 ...

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。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「股東」）及 潛在投資者，根據本集團管理層所作之初步評估及本集團截至二零二四年九月三 十日止六個月之未經審核綜合管理帳目，預期截至二零二四年九月三十日止六個 月本集團將錄得于約3.78百萬港元之利潤淨額，代表從二零二三年同期之未經審 核綜合虧損約2.15百萬港元扭虧為盈。根據目前獲得的資料，有關扭虧為盈乃主 要源自（i）透過損益按公平值計量之金融資產之公平值變動之收益約5.49百萬 港元；及（ii）行政和營運費用減少。 本公司仍正落實本集團截至二零二四年九月三十日止六個月之中期業績。上文所 載之資料僅基於董事會就目前可獲取的資料（包括截至二零二四年九月三十日止 中期之本集團管理帳目，其須待調整及定稿，且未經本公司獨立核數師審核或本 公司審核委員會審閱）之最新評估。本公司截至二零二四年九月三十日止六個月 之中期業績公告預期將於二零二四年十一月底刊 ...

董事會會議日期 杭品生活科技股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈將於二零二 四年十一月二十二日（星期五）舉行董事會會議，藉以（其中包括）（i）考慮及批准本 公司及其附屬公司截至二零二四年九月三十日止六個月之未經審核中期業績及其刊發， 以及（ii）考慮派發中期股息（如有）。 承董事會命 杭品生活科技股份有限公司 行政總裁兼執行董事 林繼陽 香港，二零二四年十一月七日 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份內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HANG PIN LIVING TECHNOLOGY COMPANY LIMITED 杭 品 生 活 科 技 股 份 有 限 公 司 （ 於百慕達註冊成立之有限公司） （ 股份代號： 1682） 於本公告日期，董事會包括執行董事林繼陽先生、吳凱先生及張凱原先生；獨立非執行 董事陳健先生、周致人先生及黃冰芬女士。 ...

Financial Performance - The company's revenue for the reporting period was approximately HKD 96,691,000, a decrease of about 21.5% compared to HKD 123,210,000 in the previous year[51]. - The garment procurement revenue was approximately HKD 95,311,000, down approximately 19.71% from HKD 118,710,000 in the previous year[51]. - The financial services revenue was approximately HKD 1,380,000, a significant decrease from HKD 4,500,000 in the previous year[51]. - The gross profit margin was approximately 2.09%, a decrease of about 2.39 percentage points from 4.48% in the previous year[51]. - Administrative expenses increased by approximately 2.32% to about HKD 13,683,000, compared to HKD 13,373,000 in the previous year[51]. - The expected credit loss reversal was approximately HKD 152,000, down from HKD 917,000 in the previous year[51]. - The income tax reversal was approximately HKD 3,000,000, primarily due to the reversal of over-provisioned tax expenses from prior years[51]. - The company reported a loss attributable to shareholders of approximately HKD 3,655,000, an improvement from a loss of HKD 5,509,000 in the previous year[51]. - The company's reserves available for distribution to shareholders as of March 31, 2024, amounted to HKD 32,577,000, a decrease from HKD 37,874,000 in 2023[115]. Economic Outlook - China's economy grew by 5.2% in 2023, higher than previous forecasts, but the recovery in the apparel industry remains slow due to global economic challenges[22]. - The IMF forecasts global economic growth to remain at 3.2% for 2024 and 2025, with inflation expected to decline from 6.8% in 2023 to 5.9% in 2024[25]. - The economic outlook for Hong Kong in 2024 predicts a GDP growth of 2.5% to 3.5%[48]. - The geopolitical tensions and high interest rates are expected to add uncertainty to the global economic outlook, despite efforts by the Chinese government to stabilize the economy[27]. - The group maintains a cautiously optimistic outlook for long-term business prospects, anticipating gradual revenue improvement as inflation and inventory destocking pressures ease[27]. Business Strategy and Operations - The group has been expanding its financial services business since 2018, focusing on asset management, leasing, and lending, to diversify revenue sources[23]. - The group is closely monitoring market conditions to assess impacts on operations and financial performance[27]. - The company aims to enhance operational standards and seek new business opportunities to expand profit channels[49]. - The company’s business operations are primarily conducted through its subsidiaries in Hong Kong and mainland China[146]. - The company has a strong governance structure with experienced board members in various financial and management roles[94]. Financial Position and Liquidity - The group reported a current ratio of 5.93:1 as of March 31, 2024, compared to 2.85:1 on March 31, 2023, indicating a healthy financial position[31]. - As of March 31, 2024, the total assets of the group were approximately HKD 105,749,000, a decrease from approximately HKD 140,401,000 as of March 31, 2023[52]. - Cash and cash equivalents amounted to approximately HKD 60,238,000, up from approximately HKD 32,110,000 as of March 31, 2023[52]. - The group maintained a strong liquidity position throughout the reporting period, with current liabilities of approximately HKD 17,658,000, down from approximately HKD 49,051,000 as of March 31, 2023[52][53]. - The group has no bank or other borrowings as of March 31, 2024, maintaining a conservative financial management strategy[53]. Shareholder Information - Major shareholders include Mr. Wu Lianghao with 13.23% (103,950,000 shares) and Mr. Wu Zilun with 6.38% (50,173,000 shares) as of March 31, 2024[151]. - The total number of shares issued as of March 31, 2024, is 785,927,000[153]. - The board of directors decided not to declare any final dividend for the year ending March 31, 2024, consistent with the previous year[138]. - The board's dividend policy aims to allow shareholders to share in profits while retaining sufficient reserves for future development[117]. Risk Management - The group continues to evaluate its clients' credit and financial conditions to minimize credit risk[53]. - The company faces various risks and uncertainties, which are described in detail in the management discussion and analysis section[136]. - The financial risks are detailed in the "Management Discussion and Analysis" section of the report[111]. Compliance and Governance - The company has complied with the listing rules regarding the reporting of its financial status[111]. - The company has complied with the disclosure requirements under Chapter 14A of the Listing Rules regarding related party transactions[166]. - The company has confirmed the independence of all independent non-executive directors as of March 31, 2024, in accordance with Listing Rule 3.13[148]. - There were no significant violations of applicable laws and regulations that would materially affect the company's business and operations during the reporting period[167]. Investments and Acquisitions - The group has no significant capital commitments or plans for major investments as of March 31, 2024[62][85]. - There were no significant acquisitions or disposals related to subsidiaries, associates, and joint ventures during the reporting period[84]. - The company has not engaged in any purchases, redemptions, or sales of its listed securities during the reporting period[120]. Stock Options and Employee Information - The company has a stock option plan that was adopted on June 2, 2010, aimed at rewarding eligible participants[154]. - The total number of stock options granted under the plan as of January 16, 2018, is 22,068,000 shares, representing approximately 3.36% of the company's issued share capital[186]. - The total number of employees as of March 31, 2024, was approximately 22, with total salary and related costs around HKD 8,054,000, compared to HKD 8,152,000 in the previous year[73].

Financial Performance - Revenue for the year ended March 31, 2024, was HKD 96,691,000, a decrease of 21.5% compared to HKD 123,210,000 in 2023[2] - Gross profit for the same period was HKD 2,309,000, down 58.3% from HKD 5,522,000 in the previous year[2] - The company reported a pre-tax loss of HKD 6,655,000, compared to a loss of HKD 5,509,000 in 2023, indicating a worsening of 20.8%[2] - The net loss attributable to owners of the company was HKD 3,655,000, an improvement from a loss of HKD 5,509,000 in the previous year[4] - The basic and diluted loss per share improved to HKD 0.47 from HKD 0.70, indicating a reduction in loss per share of 32.9%[4] - The company recorded other income and gains of HKD 4,725,000, significantly higher than HKD 1,591,000 in the previous year, an increase of 196.5%[2] - Revenue from garment procurement decreased to HKD 95,311 thousand, down 19.6% from HKD 118,710 thousand in the previous year[18] - Interest income from receivables dropped significantly to HKD 1,380 thousand, a decline of 69.4% compared to HKD 4,500 thousand in the previous year[18] - The company reported a total loss before tax of HKD 6,655 thousand for the fiscal year ending March 31, 2024, compared to a loss of HKD 5,509 thousand in the previous year[25][27] Assets and Liabilities - Total assets decreased to HKD 104,687,000 from HKD 139,639,000, reflecting a decline of 25.1%[6] - The company’s total assets as of March 31, 2024, amounted to HKD 105,749 thousand, a decrease from HKD 140,401 thousand as of March 31, 2023[28][30] - Total liabilities as of March 31, 2024, were HKD 17,658 thousand, compared to HKD 49,051 thousand in the previous year[28][30] - Trade receivables from customer contracts decreased significantly to HKD 13,646,000 in 2024 from HKD 42,239,000 in 2023, indicating a reduction in outstanding receivables[41] - Trade payables also saw a decrease, falling to HKD 13,500,000 in 2024 from HKD 41,821,000 in 2023, reflecting improved cash flow management[44] Equity and Financial Stability - The company’s total equity decreased to HKD 88,091,000 from HKD 91,350,000, a decline of 3.5%[6] - The current ratio was 5.93:1, indicating a healthy liquidity position compared to 2.85:1 in the previous year[58] - The company did not declare or recommend any dividends for the years ending 2024 and 2023, maintaining a focus on financial stability[39] - The total employee costs for 2024 were HKD 8,054,000, slightly down from HKD 8,152,000 in 2023, reflecting cost control measures[37] - The company has maintained a prudent financial management strategy to ensure a stable liquidity position[59] Business Strategy and Market Conditions - The company plans to continue focusing on garment procurement and financial services, with no specific new product or market expansion strategies mentioned in the report[8] - The financial services segment, initiated in 2018, aims to diversify revenue sources and expand in the Hong Kong and mainland China markets, focusing on asset management and lending services[52] - The global economic recovery remains challenging, with inflation high and geopolitical tensions affecting market confidence, particularly in the apparel sector[48] - China's economy grew by 5.2% in 2023, surpassing previous forecasts, but the apparel industry faced significant export declines to Europe and the US due to supply chain restructuring and weak consumer sentiment[49] - Hong Kong's economy showed a recovery with a GDP growth of 3.2% in 2023, although external demand for goods continued to weaken, impacting overall revenue[50][51] Compliance and Governance - The company has maintained compliance with all provisions of the corporate governance code for the year ended March 31, 2024, with some deviations noted[77] - The company has established a code of conduct for directors regarding securities trading, ensuring compliance with the standards set forth in the listing rules[83] - The board of directors includes executive directors Lin Jiyang and Zhang Kaiyuan, along with independent non-executive directors Lin Jiali, Chen Jian, and Zhou Zhiren[85] - The audit committee held two meetings during the year ended March 31, 2024, addressing key matters including the review of the audited consolidated financial statements[81][82] - The effectiveness of the risk management and internal control systems is assessed in conjunction with external auditors[86] Future Outlook - The IMF forecasts global economic growth to remain at 3.2% for 2024 and 2025, with developed economies slightly accelerating while emerging markets face a slowdown[53] - Hong Kong's GDP is projected to grow between 2.5% and 3.5% in 2024, with inflation rates expected at 1.7% for basic and 2.4% for overall consumer prices[54] - The group aims to enhance its core business operations while seeking new opportunities to expand profit channels[55] - The group is closely monitoring market conditions to assess impacts on operations and financial performance amid economic uncertainties[55]