Financial Performance - Revenue for FY2024 decreased by 13.2% to HK$1,007,545,000 compared to HK$1,160,211,000 in FY2023[31]. - Gross profit fell by 18.4% to HK$187,485,000 from HK$229,790,000 year-on-year[31]. - Profit before income tax dropped significantly by 87.2% to HK$7,347,000 from HK$57,445,000 in the previous year[31]. - Profit for the year decreased by 81.8% to HK$8,558,000 compared to HK$47,149,000 in FY2023[31]. - Basic and diluted earnings per share fell by 81.7% to 0.86 HK cents from 4.71 HK cents[31]. - Proposed final dividend of 1.2 HK cents per share, subject to shareholder approval at the AGM on 27 May 2025[31][32]. - The decline in revenue was primarily driven by weakened demand for smart vending systems and switch-mode power supplies, with smart vending systems revenue dropping by 21.4% to HK$320.5 million and switch-mode power supplies revenue decreasing by 47.2% to HK$156.9 million[107]. - Profit attributable to owners of the Company declined to approximately HK$8.6 million in FY2024, down from approximately HK$47.1 million in FY2023[104]. Market Presence and Strategy - The Group reported a strong global presence with production facilities in the PRC, Thailand, and Ireland, enhancing its manufacturing capabilities[8]. - The Group's long-term strategy includes expanding its market presence and enhancing product offerings to drive value creation for stakeholders[12]. - The PRC (including Hong Kong) represented 89.1% of total sales in FY2024, slightly up from 87.9% in FY2023[36]. - The Group has strategically expanded into the new energy sector, developing its self-owned "Deltrix" brand and positioning Kazakhstan as a key regional hub for this business[48][50]. - Expansion plans include entering the Uzbekistan market to establish smart charging stations and develop electric driverless heavy-duty truck manufacturing facilities[54]. - The Group is also entering the Hong Kong and Southeast Asian markets, initially focusing on Thailand and Indonesia, leveraging expertise in new energy solutions[55]. New Energy Initiatives - The Group established three model EV charging stations in Almaty, Kazakhstan, featuring Deltrix-branded chargers and energy storage systems, contributing to the new energy business expansion[11]. - A strategic initiative, "Greater Asia New Energy Business Circle," aims to integrate EV charging infrastructure and energy storage across multiple regions, emphasizing sustainability and technological innovation[12]. - The Group's commitment to sustainability aligns with global initiatives and the PRC's "Belt and Road" strategy, positioning it as a key player in the new energy sector[11]. - The Group is enhancing its charging infrastructure by deploying smart charging stations that integrate solar power and energy storage systems, creating a comprehensive ecosystem[53][57]. - The development of the "Greater Asia New Energy Business Circle" aims to integrate EV charging infrastructure, energy storage, digital advertising, and intelligent service solutions across multiple regions[56]. Management and Personnel Changes - Mr. Huang Siqi was appointed as the executive director and chairman of the board, bringing extensive experience in corporate management, business strategy, and finance[64]. - Mr. Tai Leung Lam has over 45 years of experience in the electronics industry, focusing on the establishment and management of production plants[66]. - Ms. Liu Yun, with nearly 20 years of experience in financial and capital markets, was appointed as an executive director effective October 28, 2024[68]. - Mr. Lo Ka Kei Jun has over 20 years of experience in international marketing and business development in the electronics industry[73]. - Mr. Kwan Tak Sum Stanley, a founder of the Group, has over 30 years of experience in the electronics industry, particularly in plastic injection molding and electronic assembly services[75]. - Mr. Kan Pak Cheong appointed as independent non-executive Director effective May 28, 2024, brings over 35 years of experience in real estate finance and investment[78]. - Mr. Wong Kwok Kuen appointed as independent non-executive Director effective August 28, 2024, has 28 years of banking experience and 15 years in investment and asset management[83]. - Mr. Yip Wa Ming appointed as independent non-executive Director effective October 28, 2024, has over 26 years of experience in financial advisory services[84]. - Mr. Kwan Chan Kwong resigned as Chief Executive Officer effective July 2, 2024, and appointed as a consultant[87]. - Ms. Zhang Jingjing joined as general manager of business development in August 2023 and appointed as Chief Executive Officer effective July 2, 2024[92]. Operational Highlights - The Group's total revenue from all product categories in FY2024 was HK$1,007.5 million, reflecting a significant shift in market demand[108]. - New manufacturing facilities in the PRC and Thailand became operational in FY2023 and FY2024, respectively, with a UK factory set to commence operations in the first half of 2025[103]. - Electro-mechanical products revenue increased by 5.0% to HK$330.6 million, while smart chargers revenue rose by 42.6% to HK$192.5 million in FY2024[108]. - The Group's initiatives in the new energy sector align with the PRC's "Belt and Road" initiative, enhancing market presence in Central Asia[99]. Financial Position and Risks - The Group's current ratio decreased from 2.9 as of December 31, 2023, to 2.2 as of December 31, 2024, indicating a decline in liquidity[139]. - The Group maintained a positive net cash position as of December 31, 2024, with net debt classified as not applicable due to cash and cash equivalents exceeding borrowings[139]. - Credit risk concentration was significant, with 45.6% of total trade receivables due from the largest customer and 84.2% from the five largest customers as of December 31, 2024[155]. - The Group's liquidity risk is managed through maintaining sufficient bank balances, committed credit lines, and access to interest-bearing borrowings[160]. - The Group's interest rate risk primarily arises from borrowings at floating rates, with no interest rate hedging strategy adopted[150]. Employee and Share Option Scheme - The Group's total employee benefit expenses for FY2024 amounted to approximately HK$183.1 million, a decrease from approximately HK$192.6 million in 2023[183]. - As of December 31, 2024, the Group had 1,310 employees, down from 1,560 in 2023[183]. - The total number of shares available for issue under the Share Option Scheme as of December 31, 2024, was 70,000,000 shares, representing 7% of the issued share capital[192]. - The Share Option Scheme aims to motivate eligible persons to enhance their performance and to attract and retain significant contributors to the Group's success[190].

Financial Performance - The company reported a turnaround from a loss of approximately HKD 25.9 million for the six months ended June 30, 2024, to a profit of approximately HKD 8.6 million for the fiscal year 2024, indicating strong business performance in the second half of the year[2]. - Revenue for the fiscal year 2024 decreased by approximately 13.2% to about HKD 1,007.5 million compared to the fiscal year 2023[2]. - Gross profit for the fiscal year 2024 decreased by approximately 18.4% to about HKD 187.5 million, with a gross margin decline of 1.2 percentage points to 18.6%[2]. - The company recorded a profit before tax of approximately HKD 7.3 million for the fiscal year 2024, down from approximately HKD 57.4 million in the fiscal year 2023[2]. - The profit attributable to the company's owners for the fiscal year 2024 was approximately HKD 8.6 million, compared to a profit of approximately HKD 47.1 million in the fiscal year 2023[2]. - Basic earnings per share for 2024 decreased to 0.86 HK cents from 4.71 HK cents in 2023, reflecting a decline in profit attributable to shareholders from 47,149,000 HKD to 8,558,000 HKD[23]. Assets and Liabilities - Total assets less current liabilities increased to HKD 560.8 million in fiscal year 2024 from HKD 509.9 million in fiscal year 2023[4]. - Non-current assets increased to HKD 243.6 million in fiscal year 2024 from HKD 179.9 million in fiscal year 2023[4]. - Cash and cash equivalents rose to HKD 141.1 million in fiscal year 2024 from HKD 60.9 million in fiscal year 2023[4]. - Trade receivables increased to 251,380,000 HKD in 2024 from 201,358,000 HKD in 2023, with net trade receivables at 249,090,000 HKD after accounting for impairment losses[26]. - Trade payables rose significantly to 174,487,000 HKD in 2024 from 102,959,000 HKD in 2023, indicating increased purchasing activity[28]. - Contract liabilities increased to 20,534,000 HKD in 2024 from 16,865,000 HKD in 2023, reflecting higher advance payments received from customers[29]. - The company's total borrowings amounted to 21,250,000 HKD in 2024, slightly up from 20,657,000 HKD in 2023, with a significant portion classified as current liabilities due to repayment terms[35]. Revenue Sources and Trends - Major customers contributing over 10% of total revenue included Customer A with HKD 320,481,000 (down 20.6% from HKD 403,793,000), Customer B with HKD 187,719,000 (up 42.4% from HKD 131,899,000), and Customer D with HKD 102,898,000 (down 45.0% from HKD 187,232,000)[15]. - Revenue from Europe was HKD 885,793,000, accounting for the majority of total revenue, down 14.3% from HKD 1,034,228,000 in 2023[16]. - The sales of smart vending systems and switch power supplies saw significant declines, with smart vending systems dropping by 21.4% and switch power supplies by 47.2%[44]. - Revenue from Europe and North America accounted for approximately 94.4% of total revenue in fiscal year 2024, with sales in Europe and North America decreasing by 14.4% and 22.2% respectively[47]. Expenses and Financial Management - The cost of goods sold was HKD 711,408,000, a decrease of 11.8% from HKD 806,564,000 in the previous year[18]. - The group's administrative expenses increased by approximately 10.0% to about HKD 165,200,000 in fiscal year 2024, primarily due to rising salaries and depreciation costs[53]. - The net financial expenses decreased to HKD 6,043,000 from HKD 9,837,000, reflecting a reduction in financial costs[19]. - Financial income rose approximately 274.8% from about HKD 1,300,000 in FY2023 to approximately HKD 5,000,000 in FY2024, driven by an increase in fixed deposits in banks[55]. - Financial expenses decreased by approximately 1.2% from about HKD 11,200,000 in FY2023 to approximately HKD 11,000,000 in FY2024, mainly due to reduced bank fees and interest expenses[56]. Corporate Governance and Leadership - The CEO has resigned, indicating potential changes in leadership and strategy moving forward[2]. - The board has proposed a final dividend of HKD 0.012 per share for the year ending December 31, 2024, pending shareholder approval[87]. - The company has complied with all corporate governance code provisions during the fiscal year 2024[92]. - The audit committee has reviewed the preliminary results announcement and financial statements for the year ended December 31, 2024, and found the internal control systems effective and adequate[94]. - The independent auditor has confirmed that the financial figures in the preliminary announcement align with the group's financial statements for the year[95]. Strategic Initiatives and Future Plans - The company plans to terminate the existing share option scheme and adopt a new share option scheme[2]. - The group strategically diversified into the renewable energy sector, including the establishment of three model electric vehicle charging stations in Kazakhstan[42]. - The group aims to leverage its technical expertise and operational efficiency to drive sustainable growth and enhance shareholder value despite the challenges faced[43]. - The company is actively expanding its new energy business in Kazakhstan, establishing electric vehicle charging stations at approximately 140 Sinooil gas stations[85]. - The company plans to expand its new energy business into Uzbekistan, focusing on building smart charging stations and producing electric autonomous heavy trucks[86]. - The company is enhancing its sales and marketing efforts to capitalize on strong demand driven by health awareness, digital transformation, and the global shift towards new energy[85]. - The group plans to allocate additional resources to enhance its sales and marketing strategies to capture emerging trends in Europe, the US, China, and other Asian markets[78].

Financial Performance - Revenue for the six months ended June 30, 2024, decreased by 31.2% to HK$389,249,000 compared to HK$565,855,000 for the same period in 2023[2]. - Gross profit for the same period fell by 43.2% to HK$67,642,000, down from HK$119,044,000 in 2023[2]. - The company reported a loss before income tax of HK$28,373,000, compared to a profit of HK$27,688,000 in the previous year, marking a 202.5% decline[2]. - Net loss attributable to owners of the Company for the period was HK$25,852,000, a significant drop from a profit of HK$21,740,000 in 2023, representing a 218.9% decrease[2]. - For the six months ended June 30, 2024, the Group's revenue decreased by approximately HK$176.6 million, a decline of 31.2% compared to the same period in 2023[24][30][32]. - The loss attributable to owners of the Company amounted to approximately HK$25.9 million, compared to a profit of approximately HK$21.7 million for the same period in 2023[28]. - Basic and diluted loss per share was HK$2.59, compared to earnings of HK$2.17 per share in the previous year[105]. - Total comprehensive expense for the period attributable to owners of the Company was HK$26,884,000, compared to a total comprehensive income of HK$19,813,000 in 2023[105]. Assets and Liabilities - Total assets as of June 30, 2024, were HK$671,190,000, a decrease of 1.7% from HK$682,770,000 at the end of 2023[3]. - Total liabilities increased by 5.6% to HK$287,283,000 from HK$272,035,000[3]. - Net assets attributable to owners of the Company decreased by 6.5% to HK$383,907,000 from HK$410,735,000[3]. - As of June 30, 2024, total assets amounted to HK$489,201,000, a decrease from HK$501,371,000 as of December 31, 2023[106]. - Current liabilities increased to HK$189,663,000 from HK$172,866,000, reflecting a rise of approximately 9.2%[106]. - Total equity decreased to HK$383,907,000 from HK$410,735,000, a decline of approximately 6.5%[107]. Cash Flow and Liquidity - Cash and cash equivalents rose significantly to HK$103,591,000 from HK$60,949,000, an increase of approximately 69.9%[106]. - Net cash generated from operating activities for the six months ended June 30, 2024, was HK$55,010,000, compared to HK$20,886,000 in 2023, representing a significant increase[108]. - The company reported a net increase in cash and cash equivalents of HK$42,984,000 for the six months ended June 30, 2024, compared to a decrease of HK$13,704,000 in 2023[108]. - The Group's cash and cash equivalents, along with unutilized bank financing, amounted to approximately HK$120.1 million as of June 30, 2024, up from approximately HK$77.5 million as of December 31, 2023[51]. - The Group's liquidity risk is mitigated through available banking facilities[116]. Operational Developments - The Group has initiated the production and sale of electric vehicle chargers under the "Deltrix" brand, marking a strategic shift towards new energy[16]. - A partnership with Sinooil has led to the establishment of the first electric vehicle charging station in Almaty, Kazakhstan, with plans for over 100 additional sites[16]. - The Group aims to create a "Greater Asia New Energy Business Circle" by expanding its new energy business into Uzbekistan, Hong Kong, and Southeast Asia[16]. - The Group strategically allocated additional resources to explore new opportunities in the new energy sector, including the production of electronic components for solar and wind power applications[25]. - The Group's strategic shift towards new energy not only emphasizes its commitment to environmental sustainability but also positions it as a pioneer in the Central Asian new energy sector[24]. Market and Sales Performance - Sales from smart chargers accounted for 37.8% of total sales in the first half of 2024, compared to 31.7% in 2023, indicating a shift in product demand[4]. - Revenue from electro-mechanical products decreased by 15.1%, totaling HK$147.3 million, while smart chargers saw a significant increase of 63.6%, reaching HK$98.0 million[30]. - Revenue from Europe decreased by 32.3% to HK$335.6 million, accounting for 86.2% of total revenue, while North America saw a 39.3% decline to HK$30.4 million, representing 7.8% of total revenue[33][35]. Expenses and Cost Management - Administrative expenses increased due to the rise in costs associated with the development of the new energy business[25]. - Selling and distribution expenses decreased from approximately HK$9.7 million in the first half of 2023 to approximately HK$8.3 million in the same period of 2024, reflecting lower commissions due to decreased sales[40]. - Employee benefit expenses, including directors' remuneration, amounted to HK$98,965,000, a decrease of 10% from HK$109,654,000 in 2023[141]. Strategic Initiatives and Future Outlook - The outlook for the EMS business remains cautiously optimistic, with anticipated revenue and profitability improvements as global interest rates decline[18]. - The Group expects a gradual recovery in revenue and profitability, driven by increasing demand for its products amid global trends towards health awareness and sustainable energy[28]. - The Group plans to expand its presence in Central Asia, particularly in Kazakhstan, by establishing electric vehicle charging stations[96]. - The Group aims to develop a "Greater Asia New Energy Business Circle" to foster collaboration and sustainable growth across the region[99]. Shareholder Returns - The company did not declare any interim dividends for the period, compared to HK$0.8 per share in 2023, reflecting a 100% decrease[2]. - The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2024[99].

Financial Performance - Revenue for the six months ended June 30, 2024, decreased by 31.2% to approximately HKD 389,200,000 compared to the same period last year[1] - Gross profit for the same period decreased by 43.2% to approximately HKD 67,600,000, with a gross profit margin decline of 3.6 percentage points to 17.4%[1] - The group recorded a loss before tax of approximately HKD 28,400,000 for the six months ended June 30, 2024, compared to a profit before tax of approximately HKD 27,700,000 in the same period last year[1] - Loss attributable to owners of the company for the six months ended June 30, 2024, was approximately HKD 25,900,000, compared to a profit of approximately HKD 21,700,000 in the same period last year[1] - Operating loss for the six months ended June 30, 2024, was HKD 24,205,000, compared to an operating profit of HKD 32,879,000 in the same period last year[2] - Basic and diluted loss per share for the period was HKD 2.59, compared to earnings per share of HKD 2.17 in the same period last year[2] - The company reported a net loss attributable to shareholders of HKD 25,852,000 for the six months ended June 30, 2024, compared to a profit of HKD 21,740,000 in the same period of 2023[17] - Basic loss per share was HKD (2.59) for the six months ended June 30, 2024, compared to earnings of HKD 2.17 for the same period in 2023[17] - The company did not declare any dividends for the six months ended June 30, 2024, compared to HKD 12,000,000 declared for the same period in 2023[19] Assets and Liabilities - Total assets less current liabilities amounted to HKD 481,527,000 as of June 30, 2024, compared to HKD 509,904,000 as of December 31, 2023[3] - Net assets as of June 30, 2024, were HKD 383,907,000, down from HKD 410,735,000 as of December 31, 2023[3] - Non-current assets, primarily properties, plant, and equipment, had a carrying value of HKD 22,297,000 as of June 30, 2024, down from HKD 22,900,000 at the end of 2023[11] - Trade receivables net of impairment losses decreased to HKD 168,373,000 as of June 30, 2024, from HKD 197,545,000 as of December 31, 2023, representing a decline of approximately 14.76%[21] - Trade payables decreased to HKD 96,011,000 as of June 30, 2024, from HKD 102,959,000 as of December 31, 2023, a reduction of about 6.9%[23] - The company’s bank borrowings increased to HKD 26,925,000 as of June 30, 2024, from HKD 20,657,000 as of December 31, 2023, reflecting a growth of approximately 30.5%[25] - The actual annual interest rate on bank borrowings was 6.34% as of June 30, 2024, down from 7.82% as of December 31, 2023[29] - The group's current ratio decreased from 2.9 times as of December 31, 2023, to 2.6 times as of June 30, 2024, indicating a reduction in liquidity[44] Revenue Breakdown - For the six months ended June 30, 2024, total revenue was HKD 389,249,000, a decrease of 31.2% compared to HKD 565,855,000 for the same period in 2023[13] - Major customers contributing over 10% of total revenue included Customer A with HKD 96,393,000 and Customer D with HKD 50,120,000[9] - Revenue by geographic region showed a significant decline in Europe, with earnings of HKD 335,560,000 compared to HKD 495,654,000 in the previous year, representing a decrease of 32.3%[10] - The company's revenue for the six months ended June 30, 2024, decreased by approximately HKD 176.6 million, primarily due to reduced sales of smart vending systems, electromechanical products, and switch power supplies[34] - Revenue from electromechanical products was HKD 147.3 million, accounting for 37.8% of total revenue, a decrease of 15.1% compared to the same period in 2023[33] - Smart charger sales increased by 63.6% to HKD 98.0 million, representing 25.2% of total revenue[33] Expenses and Cost Management - Administrative expenses increased from approximately HKD 81.3 million in 2023 to about HKD 89.7 million in 2024, mainly due to higher salaries and depreciation costs[41] - Other income for the six months ended June 30, 2024, was approximately HKD 1.3 million, a decrease of about HKD 1.2 million compared to the previous year, primarily due to reduced government subsidies[39] - Sales and distribution expenses decreased from approximately HKD 9.7 million in 2023 to about HKD 8.3 million in 2024, reflecting lower commission payments due to decreased sales[40] - The total employee benefits expenditure for the six months ended June 30, 2024, was approximately HKD 99,000,000, a decrease from HKD 109,700,000 for the same period in 2023[58] Strategic Initiatives - The company continues to focus on manufacturing and selling electronic products, with no specific mention of new products or market expansion strategies in the current report[4] - The company is strategically allocating additional resources to explore new opportunities in the renewable energy sector, including the production of electronic components for solar and wind applications[34] - The company anticipates a rebound in revenue and profitability as global economic growth gradually recovers[34] - The company has successfully expanded its customer base in Europe, the US, China, and other Asian countries, driven by the ongoing global trends in digital development and sustainable energy[59] - The company has decided to pause the expansion of its automation testing equipment business due to a decline in demand, reallocating resources to strengthen its core industrial electronics manufacturing services[61] - New production facilities equipped with advanced automation and digital technology are expected to enhance production efficiency and capacity, with one facility in Thailand set to commence operations in the second half of 2024[62] - The strategic talent center in Guangzhou has employed ten staff members to support the company's commitment to attracting and nurturing skilled professionals in the industrial electronics sector[62] - The company plans to establish more electric vehicle charging stations in Almaty, Kazakhstan, as part of its strategy to expand its influence in Central Asia[66] - The company aims to establish a robust business network in Uzbekistan, Hong Kong, and Southeast Asia by providing comprehensive electric vehicle charging solutions[66] Compliance and Governance - The company has complied with all corporate governance code provisions during the six months ending June 30, 2024[70] - The group has no significant contingent liabilities as of June 30, 2024, consistent with the previous reporting period[55] - The group continues to monitor its liquidity and capital structure to ensure it meets financing needs and effectively manages liquidity risk[56]

Financial Performance - Revenue for FY2023 reached HK$1,160,211, an increase of 18.6% compared to HK$978,103 in FY2022[22]. - Gross profit for FY2023 was HK$222,721, reflecting a growth of 7.4% from HK$207,295 in FY2022[22]. - Profit before income tax increased by 2.8% to HK$57,445 in FY2023, up from HK$55,879 in FY2022[22]. - Profit for the year rose by 3.8% to HK$47,149, compared to HK$45,418 in FY2022[22]. - Basic and diluted earnings per share increased by 3.7% to 4.71 HK cents in FY2023, up from 4.54 HK cents in FY2022[22]. - The company did not recommend any final dividend for FY2023, maintaining an interim dividend of 0.8 HK cents[23]. - The Group's cost of sales rose by 21.6% to HK$937.5 million in FY2023, influenced by increased material costs and depreciation from new leased factory buildings[140]. - Administrative expenses grew by 12.3% from HK$133.8 million in FY2022 to HK$150.2 million in FY2023, mainly due to increased employee benefits[150][155]. - Other income decreased from HK$6.2 million in FY2022 to HK$4.6 million in FY2023, primarily due to a HK$1.3 million drop in scrap material sales[142][147]. - The profit attributable to owners of the Company increased by HK$1.7 million, reaching HK$47.1 million for FY2023, compared to HK$45.4 million in FY2022, reflecting steady growth despite challenges[122][124]. Market Presence and Strategy - The company aims to capture global demand for innovative products in the new smart economy[5]. - The European market showed significant growth, with sales in this region increasing to 81.8% in FY2023 from 89.1% in FY2022[27]. - The company is actively pursuing expansion opportunities in Central Asia, particularly Kazakhstan, in alignment with China's "Belt and Road" initiative[50]. - Trio Group aims to establish a strong presence in Hong Kong, Macau, and Southeast Asia by offering comprehensive electric vehicle charging solutions[50]. - The company is focused on fostering a "Greater Asia Renewable Energy Business Circle" to promote collaboration and growth in the region[50]. - Increased demand for the company's products is driven by trends in health awareness, digital transformation, automation solutions, and energy-saving technologies[51]. - The company has established a strong presence in various sectors, including gaming, healthcare, renewable energy, telecommunications, and security systems, with significant demand for its products[113][115]. Operational Developments - The company has strategically leased two new buildings in the PRC to enhance operational capacity, including a warehouse and a production factory equipped with advanced automation[48]. - An additional factory building in Thailand is scheduled to be operational in Q2 2024 to further increase production capacity[48]. - The production capacity is being expanded with the leasing of a new factory in Thailand, set to commence operations in Q2 2024, to meet evolving customer needs[121]. - The new factory in the PRC, operational since May 2023, enhances large-scale production capabilities and optimizes logistics and administrative costs[120]. - Smart manufacturing practices have been prioritized, leading to improved supply chain management and production efficiency, with the company achieving Industry 4.0 level 1i certification[122][124]. Leadership and Management - The company has appointed several directors with extensive backgrounds in electronics manufacturing and management, enhancing its leadership team[70]. - The leadership team is well-educated, with advanced degrees in engineering, business management, and marketing from reputable institutions[72][78]. - The company has established a strong management team with significant experience in corporate finance and manufacturing, enhancing operational efficiency[89][91]. - The company appointed Mr. Kwan Chan Kwong as CEO effective September 1, 2022, who has over 40 years of experience in the electronics industry[89]. - Mr. Leung Tak Ho joined as Chief Financial Officer in January 2023, bringing over 25 years of experience in auditing and financial management[97]. - Ms. Jingjing Zhang was appointed as General Manager of Business Development in August 2023, focusing on global market exploration[99]. Financial Position and Risk Management - As of December 31, 2023, the Group had net current assets of HK$328.5 million, with a current ratio increasing from 2.3 times in 2022 to 2.9 times in 2023[161]. - The Group maintained a positive net cash position, with bank borrowings of HK$20.7 million and undrawn banking facilities of HK$220.4 million as of December 31, 2023[160][161]. - The Group's credit risk concentration increased significantly, with 49.0% of total trade receivables due from the largest customer and 81.0% from the five largest customers as of December 31, 2023[178]. - The Group's liquidity management includes maintaining sufficient bank balances and available committed credit lines to sustain operations[183]. - The Group's financial risk management focuses on mitigating market risks, including foreign exchange and price risks[165]. - The Group's interest rate risk primarily arises from borrowings, which are arranged at floating rates[179]. Future Outlook - Trio Group anticipates ongoing economic challenges due to high interest rates and geopolitical instability, but maintains an optimistic outlook in emerging sectors like electric vehicles and renewable energy[50]. - The global economic environment remains challenging due to high interest rates and inflationary pressures, yet the company successfully identified and capitalized on positive business opportunities[114].

Financial Performance - Revenue for the fiscal year 2023 increased by 18.6% to HKD 1,160,200,000 compared to fiscal year 2022[3] - Gross profit for fiscal year 2023 rose by 7.4% to HKD 222,700,000, with a gross margin decrease of 2.0 percentage points to 19.2%[3] - Profit before tax for fiscal year 2023 was HKD 57,400,000, compared to HKD 55,900,000 in fiscal year 2022[3] - Profit attributable to owners of the company for fiscal year 2023 was HKD 47,100,000, after deducting one-time compensation and bonuses of HKD 4,800,000, compared to HKD 45,400,000 in fiscal year 2022[3] - Basic and diluted earnings per share for fiscal year 2023 were HKD 4.71, compared to HKD 4.54 in fiscal year 2022[4] - The company reported a net profit attributable to shareholders of HKD 47,100,000, up from HKD 45,400,000 in the previous year, indicating resilience and stable growth despite challenging market conditions[51] Assets and Liabilities - Total assets as of December 31, 2023, amounted to HKD 1,011,275,000, a decrease from HKD 1,090,162,000 in 2022[5] - Current assets decreased to HKD 501,371,000 in 2023 from HKD 545,081,000 in 2022[5] - Current liabilities decreased to HKD 172,866,000 in 2023 from HKD 238,753,000 in 2022[5] - Net asset value increased to HKD 410,735,000 in 2023 from HKD 383,865,000 in 2022[6] - The company reported a decrease in inventory to HKD 205,612,000 in 2023 from HKD 244,213,000 in 2022[5] - The net trade receivables increased to HKD 197,545,000 in 2023 from HKD 196,257,000 in 2022, with trade receivables aging analysis showing a significant increase in amounts over 60 days[32][33] - Trade payables decreased to HKD 102,959,000 in 2023 from HKD 132,932,000 in 2022, indicating improved cash flow management[35] - Contract liabilities decreased to HKD 16,865,000 in 2023 from HKD 38,414,000 in 2022, reflecting the fulfillment of previous year's performance obligations[36] Revenue Sources - Major customers contributing over 10% of total revenue included Customer A with HKD 403,793,000, Customer B with HKD 187,232,000, and Customer C with HKD 131,899,000[18] - Revenue from Europe was HKD 1,034,228,000, up 29.2% from HKD 800,243,000 in 2022, making it the largest revenue source[19] - The company's revenue for the fiscal year 2023 increased by 18.6% to HKD 1,160,200,000, compared to HKD 978,100,000 in fiscal year 2022, driven primarily by increased sales of smart vending systems and switch power supplies in Europe[50] - Smart vending systems generated revenue of HKD 407,826,000, accounting for 35.2% of total revenue, reflecting a significant increase of 184.3% compared to HKD 143,445,000 in the previous year[52] - Revenue from the European market reached HKD 1,034,228,000, accounting for 89.1% of total revenue, with a year-on-year increase of 29.2%[54] Expenses and Costs - The cost of goods sold increased to HKD 806,564,000 in 2023 from HKD 637,792,000 in 2022, reflecting a 26.4% rise[21] - Sales costs rose by 21.6% to HKD 937,500,000, primarily due to increased material costs and depreciation from newly leased production facilities[56] - Other income decreased from HKD 6,200,000 in fiscal year 2022 to HKD 4,600,000 in fiscal year 2023, mainly due to a decline in revenue from the sale of scrap materials[58] - Sales and distribution expenses increased from HKD 15,900,000 to HKD 18,600,000, attributed to higher commissions paid to sales agents and increased advertising expenses[59] - Administrative expenses increased by 12.3% from HKD 133.8 million in FY2022 to HKD 150.2 million in FY2023, primarily due to increased employee benefits including a one-time payment of HKD 4.8 million to departing directors and senior management[60] Financing and Investments - The company's borrowings amounted to HKD 20,657,000 in 2023, slightly down from HKD 20,970,000 in 2022, with a significant increase in the effective interest rate from 5.55% to 7.82%[46] - The company has unutilized borrowing facilities of HKD 220,376,000 due within one year, compared to HKD 191,419,000 in the previous year[46] - The total issued share capital remained unchanged at 1,000,000,000 shares, with a total value of HKD 281,507,000 for both years[46] - The company reported a fair value loss of HKD 826,000 on financial assets, which was reclassified to reflect its nature accurately[48] - The company has not made any significant acquisitions or disposals of subsidiaries, associates, or joint ventures in the fiscal year 2023, consistent with 2022[77] Future Plans and Strategies - The company plans to further expand its production capacity in Thailand with a new facility expected to commence operations in Q2 2024[50] - The company is focusing on enhancing sales and marketing efforts to capitalize on strong market demand driven by health, digital transformation, automation solutions, and energy efficiency[95] - The company is optimistic about the growth in the electric vehicle, solar, and wind energy sectors, driven by strong global demand and favorable government policies[96] - The company is actively seeking expansion opportunities in Central Asia, including Kazakhstan, in line with China's Belt and Road Initiative[96] - The company aims to establish a strong business presence in Hong Kong, Macau, and Southeast Asia by providing comprehensive electric vehicle charging solutions[96] Dividends - The company declared a final dividend of HKD 1.2 cents per share for the year ended December 31, 2022, totaling HKD 12,000,000[29] - The company has paid an interim dividend of HKD 0.8 per ordinary share, totaling HKD 8,000,000, consistent with the previous year[98] - The board does not recommend a final dividend for the fiscal year 2023, compared to HKD 1.2 per share in 2022[99] Audit and Compliance - The audit committee has reviewed the preliminary results for the fiscal year ending December 31, 2023, and found the internal control systems to be effective and adequate[107] - The independent auditor has confirmed that the financial figures in the preliminary announcement align with the group's financial statements for the fiscal year[108] - There are no significant events affecting the group that need to be disclosed after the fiscal year 2023[102]

Financial Performance - Revenue for the six months ended June 30, 2023, was HK$565,855,000, representing a 35.6% increase compared to HK$417,416,000 for the same period in 2022[4] - Gross profit increased by 63.1% to HK$119,044,000 from HK$72,984,000 year-on-year[4] - Profit before income tax surged to HK$27,688,000, a significant increase of 1,884.8% from HK$1,395,000 in the previous year[4] - Profit attributable to owners of the Company rose to HK$21,740,000, marking a 2,381.7% increase compared to HK$876,000 in the same period last year[4] - Basic and diluted earnings per share increased to 2.17 HK cents, up 2,311.1% from 0.09 HK cents[4] - Gross profit margin improved by 3.5 percentage points to 21.0% for the six months ended June 30, 2023, up from 17.5% in the previous year[57] - Profit from operations significantly improved to HK$32,879,000, compared to HK$5,282,000 in the prior year, marking a substantial increase[190] - Total comprehensive income for the period attributable to owners of the Company was HK$19,813,000, compared to HK$22,000 in the same period of 2022[190] Assets and Liabilities - Total assets as of June 30, 2023, were HK$770,473,000, reflecting a 6.5% increase from HK$723,516,000 at the end of 2022[4] - Total liabilities increased by 11.5% to HK$378,739,000 from HK$339,651,000[4] - Net assets attributable to owners of the Company increased by 2.0% to HK$391,734,000 from HK$383,865,000[5] - The Group's net current assets were HK$316.8 million as of June 30, 2023, an increase from HK$306.3 million as of December 31, 2022[97] - The company’s trade and other payables increased to HK$204,386,000 from HK$158,895,000, representing a rise of about 28.6%[192] Operational Developments - The company strategically leased two buildings adjacent to its existing production base in the PRC, operational since May 2023, to enhance operational capacity[36] - The new production factory is equipped with advanced automation and digitization equipment, improving efficiency to meet rising demand for high-value products[36] - The Group is expanding its operational capacity by leasing two additional buildings in the PRC, which became operational in May 2023, enhancing logistics and production efficiency[55] - The company plans to further expand production capabilities in Thailand based on the satisfactory performance of its production plant there[36] - The company has completed the renovation of two factory buildings, which commenced operations in May 2023, enhancing production capacity to meet growing customer demand[159] Market and Product Strategy - Trio Group is actively exploring markets including Europe, Singapore, Hong Kong, and Kazakhstan for its electric vehicle chargers under the brand name Deltrix[38] - The European market has shown significant growth, validating Trio Group's strategic initiatives[35] - The demand for OEM products, particularly in the European market, has surged due to increased health consciousness and digital transformation[49] - The Group's product range includes applications in renewable energy, telecommunications, and healthcare, reflecting a broad market presence[47] - The Group is actively exploring markets in Europe, Singapore, Hong Kong, and Kazakhstan for new energy products[173] Challenges and Economic Outlook - Economic conditions are expected to remain challenging, with downside risks due to higher interest rates and geopolitical instability[38] - The ongoing geopolitical tensions and rising interest rates present challenges, but the Group continues to identify positive business opportunities[48] - The Group's plan for the development of a new production base in the PRC has been deferred due to uncertain economic conditions and geopolitical uncertainties[167] Employee and Administrative Expenses - The total number of employees increased to approximately 1,700 as of June 30, 2023, compared to approximately 1,600 as of December 31, 2022[139] - The Group's total employee benefit expenses for the six months ended June 30, 2023, were HK$109.7 million, an increase from HK$95.5 million for the same period in 2022[140] - Administrative expenses grew to HK$81.3 million, mainly due to rising employee benefit expenses[79] - Administrative expenses increased from HK$66.4 million in the first half of 2022 to HK$81.3 million in the same period of 2023, primarily due to rising employee benefits for directors and management[84] Dividends - The interim dividend per share remained unchanged at 0.8 HK cents[4] - The Board declared an interim dividend of HK0.8 cent per ordinary share for the six months ended June 30, 2023[174] - A final dividend of HK1.2 cents per ordinary share for the year ended December 31, 2022, totaling HK$12.0 million, was approved and paid[175] - The interim dividend declared is HK$0.8 per share for the six months ended June 30, 2023, consistent with the previous year[178] Cash Flow and Financial Position - Cash generated from operating activities was HK$12,374,000 for the six months ended June 30, 2023, a turnaround from a cash used of HK$25,715,000 in the previous year[195] - The company experienced a net cash decrease of HK$13,704,000 in cash and cash equivalents for the six months ended June 30, 2023, compared to an increase of HK$7,591,000 in the same period of 2022[195] - The Group's cash and bank balances, including restricted deposits, were HK$73.7 million as of June 30, 2023, down from HK$79.0 million as of December 31, 2022[90] - The Group had undrawn banking facilities of HK$231.5 million as of June 30, 2023, up from HK$191.4 million as of December 31, 2022[90]

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，並明確表示概不會就因本公佈全部或任何部分內容而產生或因依 賴該等內容而引致之任何損失承擔任何責任。 TRIO INDUSTRIAL ELECTRONICS GROUP LIMITED 致豐工業電子集團有限公司 （於香港註冊成立的有限公司） （股份代號：1710） 截至二零二三年六月三十日止六個月 中期業績公佈 致豐工業電子集團有限公司（「本公司」）董事（「董事」）組成的董事會（「董事會」） 欣然宣佈，本公司及其附屬公司（統稱為「本集團」）截至二零二三年六月三十日止 六個月之未經審核簡明綜合中期業績，連同截至二零二二年六月三十日止六個月 之比較數字如下： 財務摘要： • 截至二零二三年六月三十日止六個月之收益與去年同期相比增加35.6%至 565,900,000港元。 • 截至二零二三年六月三十日止六個月之毛利增加63.0%至119,000,000港 元，而毛利率與去年同期相比增加3.5個百分點至21.0%。 • 本集團於截至二零二三年六月三十日止六個月錄得除所得稅前溢利 27,700,000港元，而去 ...

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，並明確表示概不會就因本公告全部或任何部分內容而產生或因依 賴該等內容而引致之任何損失承擔任何責任。 TRIO INDUSTRIAL ELECTRONICS GROUP LIMITED 致豐工業電子集團有限公司 （於香港註冊成立的有限公司） （股份代號：1710） 有關截至二零二二年十二月三十一日止年度的年報的補充公告 茲提述致豐工業電子集團有限公司（「本公司」，連同其附屬公司，統稱「本集團」） 截至二零二二年十二月三十一日止年度的年報（「年報」）。本公告為對年報的補 充，應與年報一併閱讀。除文義另有所指外，本公告所用詞彙與年報所界定者具 有相同涵義。 董事會謹此就年報「管理層討論及分析－所得款項用途」一節提供有關截至二零二 二年十二月三十一日止年度根據上市規則附錄十六第11(8)條及第11A條使用所得 款項的額外資料。 所得款項用途 下表（經修訂）列載上市所得款項淨額於二零二二年十二月三十一日的使用情況及 未動用所得款項用途的預期時間表： ...

Company Overview - Trio Industrial Electronics Group Limited specializes in manufacturing customized industrial electronic components and products, with production facilities in the PRC, Ireland, and Thailand[7]. - The Group's product lines include electro-mechanical products, switch-mode power supplies, smart chargers, and smart vending systems, catering to various industries such as renewable energy and telecommunications[8]. - The Group aims to capture global demand for innovative products in the new smart economy, emphasizing social and environmental responsibility[5]. - Trio Engineering, the Group's principal subsidiary, is the first industrial electronics provider in Hong Kong to obtain Industry 4.0 level 1i certification[7]. - The Group's corporate vision is "Powering the eWorld," focusing on providing advanced solutions for complex requirements[8]. - The Group has offices in Hong Kong, Ireland, and Thailand, enhancing its market presence and operational capabilities[7]. Financial Performance - The revenue for FY2022 reached a record high of HK$978.1 million, representing a substantial growth of 31.5% over FY2021[43]. - The profit for the year was HK$45.4 million, compared to a loss of HK$10.6 million in FY2021, marking a turnaround of 529.1%[25]. - Gross profit increased by 48.8% to HK$207.3 million in FY2022 from HK$139.3 million in FY2021[25]. - Basic and diluted earnings per share improved to 4.54 HK cents, a 528.3% increase from a loss of 1.06 HK cents in FY2021[25]. - Proposed final dividend is 1.2 HK cents per share, subject to shareholder approval at the annual general meeting on May 23, 2023[26]. - The annual report includes a five-year financial summary, which may provide insights into historical performance trends[2]. Product Sales and Market Performance - Sales by product category showed that smart chargers accounted for 38.6% of total sales in FY2022, while smart vending systems contributed 44.5%[29]. - The PRC (including Hong Kong) represented 81.8% of total sales in FY2022, a slight decrease from 82.8% in FY2021[30]. - Revenue from smart vending systems surged by 104.4% in FY2022 compared to FY2021[148][150]. - Revenue from smart chargers increased by 34.5% to HK$232.8 million in FY2022, up from HK$173.1 million in FY2021[148]. - Revenue from switch-mode power supplies rose by 36.7% to HK$218.4 million in FY2022, compared to HK$159.7 million in FY2021[148]. - Electro-mechanical products generated revenue of HK$377.5 million in FY2022, a 13.9% increase from HK$331.5 million in FY2021[148]. Management and Governance - The management discussion and analysis section of the annual report provides insights into financial performance and strategic direction, although specific financial figures are not detailed in the provided content[2]. - The Group's financial statements indicate a strategic focus on corporate and strategic development under the leadership of the new management team[72]. - The company has a strong governance structure with various committees including Audit, Remuneration, and Risk Management, chaired by experienced directors[90][91]. - The management team includes individuals with extensive educational backgrounds in engineering, business, and finance, enhancing the company's strategic capabilities[79][85]. - The board comprises a diverse group of directors with significant industry experience, contributing to informed decision-making and corporate governance[84][87]. Operational Strategies - The Group's strategic focus includes expanding its product offerings and enhancing its technological capabilities to meet diverse business needs[8]. - The management implemented stringent cost control measures to manage material costs, freight costs, and direct labor costs amid recovering supply chains[49]. - The management plans to focus on Growth, Efficiency, and Technological Advancement to navigate uncertainties in the global economy[52]. - The management has established a policy to manage foreign exchange risk by monitoring currency movements and considering forward contracts if necessary[188]. Economic Environment and Challenges - The Group is preparing for a challenging year in 2023, with warnings from economic organizations about potential recessions affecting one-third of the world economy[52]. - The gradual lifting of COVID-19 restrictions has allowed the Group's personnel to resume mobility, facilitating business operations[44]. - The COVID-19 pandemic led to increased demand for electronic medical and healthcare products, contributing to revenue growth[141][140]. Financial Position and Risk Management - The current ratio for FY2022 was 2.1, indicating strong liquidity[40]. - The Group's cash and bank balances, including restricted deposits, amounted to HK$79.0 million as of December 31, 2022, up from HK$68.9 million in 2021[179]. - The Group's net current assets increased to HK$306.3 million in 2022 from HK$265.4 million in 2021, with a current ratio rising from 2.1 times to 2.3 times[180]. - The Group maintained a net cash position as of December 31, 2022, with no applicable gearing ratio due to total borrowings being less than cash and bank balances[180]. - The Group's credit risk is primarily associated with trade receivables, with 11.6% of trade receivables due from the largest customer and 73.1% from the five largest customers[197]. - Management regularly assesses the recoverability of trade and other receivables based on past payment records and the financial capability of debtors[200].