Financial Performance - Total revenue for the year 2024 reached approximately $243.6 million, representing a 17% increase compared to $208.1 million in 2023[4] - Gross profit for 2024 was $60.8 million, with a gross margin of 24.9%, up from $43.8 million and a gross margin of 21.0% in 2023[4] - Net profit for the year 2024 was approximately $29.8 million, a significant increase from $14.9 million in 2023, marking a historical high[6] - Basic and diluted earnings per share for 2024 were 2.66 cents, compared to 1.33 cents in 2023[4] - Total assets increased to $220.6 million in 2024 from $195.7 million in 2023[4] - Total equity rose to $170.9 million in 2024, up from $149.0 million in 2023[4] - The company reported a significant increase in revenue, achieving a total of $1.2 billion for the last quarter, representing a 15% year-over-year growth[12] - Total revenue increased from approximately $208.1 million in 2023 to about $243.6 million in the current year, representing a growth of approximately 17.0%[24] - Total sales volume rose from approximately 19.4 million units in 2023 to about 23.5 million units, an increase of approximately 21.4%[24] - Sales revenue from the outdoor and sports category accounted for 84.9% of total revenue, up from 76.8% in 2023[24] - Gross profit increased from approximately $43.8 million in 2023 to about $60.8 million, with the gross profit margin improving from 21.0% to 24.9%[24] - Net profit attributable to shareholders reached approximately $29.8 million, a significant increase of about 100.6% from approximately $14.9 million in 2023[26] Strategic Initiatives - The company plans to deepen customer relationships and expand its market presence in the global handbag and backpack market[7] - The company aims to leverage its multi-regional manufacturing platform to attract well-known brand owners and expand its customer base[7] - The company emphasizes prudent risk management and operational efficiency as part of its strategy for sustainable growth[7] - The recovery of customer orders in China and Europe has significantly improved the utilization of the company's manufacturing platform[6] - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[15] - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[16] - Market expansion plans include entering three new international markets by the end of the year, projected to increase market share by 10%[17] - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $100 million allocated for potential deals[18] - A new marketing strategy is set to roll out, aiming to increase brand awareness by 30% within the next six months[19] Operational Efficiency - The company reported a 5% reduction in operational costs due to efficiency improvements implemented in the last quarter[12] - Administrative expenses slightly increased to approximately $18.3 million, representing about 7.5% of total revenue, down from 8.5% in 2023[25] Risk Management - The company faces significant risks, including macroeconomic risks related to geopolitical tensions and inflation, with over 90% of total revenue contributed by the top five customers[40] - The largest customer accounted for 37.4% of sales, while the top five customers collectively contributed 92.6% of total sales[50] - The company has adopted a comprehensive risk management policy to identify and manage significant risks effectively[151] - The group has implemented a corporate risk management framework to assess and manage significant risks related to business objectives[150] - The board is committed to maintaining a robust risk management and internal control system to protect shareholder interests and group assets[143] Corporate Governance - The company has complied with the corporate governance code as per the listing rules throughout the fiscal year ending December 31, 2024[98] - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors, ensuring compliance with listing rules[108] - The board has established mechanisms to ensure independent opinions are obtained, enhancing objective and effective decision-making[105] - The company has established three committees: Audit Committee, Compensation Committee, and Nomination Committee, each with specific written terms of reference[123] - The Audit Committee is responsible for overseeing the integrity of the company's financial statements and reviewing significant financial reporting judgments[125] - The company is committed to continuous professional development for its directors, providing regular updates on regulatory developments[117] Environmental, Social, and Governance (ESG) - The company aims to integrate corporate social responsibility into its business strategy and management approach[1] - The corporate social responsibility policy is built on four pillars: market, workplace, community, and environment[1] - The company emphasizes reducing greenhouse gas emissions and improving waste management in its operations[1] - The group has established an independent team responsible for handling environmental compliance matters in the jurisdictions where it operates[192] - The group has implemented measures to reduce emissions and optimize resource usage, aiming for a sustainable working and living environment[191] - The group has identified key stakeholder concerns, including the prevention of child and forced labor, customer privacy protection, and intellectual property rights protection[189] Shareholder Communication - The company has implemented a shareholder communication policy to ensure timely access to comprehensive and understandable information for shareholders[162] - The board regularly reviews the effectiveness of the shareholder communication policy, which was deemed well-implemented for the year ending December 31, 2024[165] Future Outlook - The company provided guidance for the next quarter, expecting revenue to be between $1.3 billion and $1.5 billion, indicating a potential growth of 8% to 25%[14] - The company believes it has sufficient resources to continue operating for the foreseeable future, adopting a going concern basis for financial statements[152]

公告称，总销量由2023年的约1940万件增加至本年度的约2350万件，相当于增加约410万件或21.4%。 户外与运动类别的销售收入于本年度内取得强劲的双位数增长，乃由于若干运动品牌拥有人的需求强劲 所致。因此，就不同产品类别的销售组合而言，销售更集中于户外与运动类别，占总收入的84%以上 (2023年：76%)。每件平均售价因销售组合的变化由10.7美元略降至10.4美元。 其利工业集团(01731)发布2024年度业绩 股东应占溢 利2984.2万美元 同比增加100.56% 智通财经APP讯，其利工业集团(01731)发布截至2024年12月31日止年度业绩，该集团期内取得收入2.44 亿美元，同比增加17.04%;公司股东应占溢利2984.2万美元，同比增加100.56%;每股基本盈利2.66美分。 ...

Financial Performance - The total revenue for the year ended December 31, 2024, was $243.612 million, representing a 16.9% increase from $208.138 million in 2023[3] - Gross profit for the same period was $60.754 million, up 38.8% from $43.752 million in the previous year[3] - The profit attributable to shareholders for the year was $29.842 million, which is a significant increase of 100.5% compared to $14.879 million in 2023[3] - The company reported a basic and diluted earnings per share of 2.66 cents, compared to 1.33 cents in the previous year, reflecting a 100% increase[3] - The overall comprehensive income attributable to shareholders for the year was $29.128 million, compared to $13.335 million in 2023, reflecting a growth of 118.5%[3] - Total revenue for the year 2024 reached $243.612 million, an increase of 17% compared to $208.138 million in 2023[12] - The group reported a pre-tax profit of $16,090,000 in 2024, compared to $15,371,000 in 2023, reflecting an increase of 4.7%[24] - Basic earnings per share rose to $0.0267 in 2024 from $0.0133 in 2023, marking a 100% increase[29] - The group’s total tax expense for the year was $3,283,000, up from $1,021,000 in 2023, indicating a significant increase of 221.5%[28] - The cost of goods sold increased to $179,637,000 in 2024 from $160,856,000 in 2023, an increase of 11.7%[24] - Other income and net gains increased to $5,635,000 in 2024 from $3,764,000 in 2023, representing a growth of 49.6%[21] Assets and Liabilities - Total assets as of December 31, 2024, amounted to $220.019 million, compared to $195.670 million in 2023, indicating an increase of 12.4%[4] - Current assets increased to $180.148 million from $153.556 million, marking a growth of 17.3% year-over-year[4] - The company’s cash and cash equivalents rose to $70.918 million, up from $42.269 million, representing a 67.6% increase[4] - Non-current liabilities decreased to $2.703 million from $3.583 million, a reduction of 24.5%[5] - Non-current assets totaled $36.791 million in 2024, a decrease from $39.163 million in 2023, reflecting a decline of 6%[14] - Trade receivables increased to $56,068,000 in 2024 from $49,433,000 in 2023, a rise of 13.3%[30] Revenue Breakdown - Revenue from the United States decreased to $65.103 million in 2024 from $73.359 million in 2023, representing a decline of 11%[12] - Revenue from mainland China significantly increased to $30.977 million in 2024, up from $16.076 million in 2023, marking an increase of 93%[12] - Revenue from Belgium increased to $34.381 million in 2024 from $28.192 million in 2023, showing a growth of 22%[12] - The total revenue from other regions combined was $62.232 million in 2024, up from $48.599 million in 2023, representing a growth of 28%[12] - Sales of outdoor and sports bags accounted for $206.846 million in 2024, up from $159.849 million in 2023, indicating a growth of 29%[19] - The company reported a total of three major customers contributing over 10% of total revenue, with Customer A generating $91.162 million, Customer B $62.808 million, and Customer C $58.415 million in 2024[15] - Outdoor and sports category sales accounted for over 84% of total revenue, up from 76% in 2023[42] Operational Insights - The company operates a single business segment focused on the production and sale of sports bags, handbags, and luggage[11] - The group maintained a healthy financial position with cash and cash equivalents of approximately $76.6 million and no external borrowings as of December 31, 2024[46] - Capital expenditures for the year amounted to $1.9 million, primarily due to the acquisition of properties, plants, and equipment[46] - The group’s research and development costs were $2,429,000 in 2024, compared to $2,311,000 in 2023, reflecting a 5.1% increase[24] - Administrative expenses increased slightly to approximately $18.3 million, representing about 7.5% of total revenue[43] - Sales volume rose from approximately 19.4 million units in 2023 to about 23.5 million units, an increase of around 21.4%[42] - The average selling price per unit slightly decreased from $10.7 to $10.4 due to changes in the sales mix[42] Corporate Governance and Future Outlook - The board has proposed a final dividend of HKD 0.07 per share, subject to approval at the annual general meeting on June 16, 2025[54] - The group did not engage in any significant acquisitions or disposals of subsidiaries or associates during the year ending December 31, 2024[48] - The group faced foreign exchange risks as its operational costs were primarily denominated in RMB, VND, and USD, while most sales were in USD[53] - The company did not repurchase, sell, or redeem any of its listed securities during the year[59] - The group has maintained compliance with the corporate governance code as outlined in the listing rules[60] - The audit committee reviewed the group's annual performance and financial matters with management and external auditors[62] - The company’s auditor confirmed that the financial statements for the year ending December 31, 2024, were consistent with the preliminary announcement[64] - The board of directors includes executive directors Yang Shujian, Yang Shujia, and Yang Hong, as well as non-executive directors Zou Zhiming and Lin Wangxian, and independent non-executive directors Qiu Zhizhong, Shi De'an, and Huang Guanhao[67] - The meeting was held on March 21, 2025, to discuss the company's financial performance and future strategies[67] - Specific financial metrics and performance summaries were not provided in the extracted content[68] - Future outlook and guidance details were not included in the extracted content[68] - Information regarding new product and technology development was not mentioned in the extracted content[68] - Market expansion and acquisition strategies were not discussed in the extracted content[68] - Other new strategies were not highlighted in the extracted content[68] - User data and engagement metrics were not available in the extracted content[68] - The content does not provide specific numerical data or percentages related to financial performance[68] - Overall, the extracted content lacks detailed financial insights and projections[68]

Financial Performance - The company's revenue for the six months ended June 30, 2024, was $130.719 million, an increase from $115.339 million in the same period of 2023, representing a growth of approximately 13.4%[4] - Gross profit for the same period was $32.386 million, compared to $23.016 million in 2023, reflecting a significant increase of about 40.9%[4] - The net profit attributable to shareholders for the six months was $18.858 million, up from $9.867 million in 2023, marking an increase of approximately 90.1%[3] - The total comprehensive income attributable to shareholders for the period was $18.422 million, compared to $8.384 million in 2023, indicating a growth of about 119.4%[5] - Basic and diluted earnings per share for the period were 1.68 cents, compared to 0.88 cents in 2023, representing an increase of approximately 90.9%[5] - The company reported a pre-tax profit of $18,858,000 for the six months ended June 30, 2024, up from $9,867,000 in the same period of 2023, indicating a growth of approximately 90%[27] - Basic earnings per share for the period were $0.0168, compared to $0.0088 for the same period in 2023, representing an increase of approximately 90.9%[27] - The company reported a profit attributable to shareholders of approximately $18.9 million, an increase of about $9.0 million or 91.1% compared to the previous year[47] Assets and Liabilities - Non-current assets as of June 30, 2024, totaled $41.526 million, slightly down from $42.136 million at the end of 2023[6] - Current assets increased to $161.967 million from $153.556 million in 2023, showing a growth of approximately 5.8%[6] - Current liabilities decreased to $39.910 million from $43.158 million in 2023, a reduction of about 7.2%[7] - The net asset value of the company increased to $160.202 million from $148.951 million in 2023, reflecting a growth of approximately 7.5%[7] - The company’s total assets as of June 30, 2024, were reported at $158,766,000, an increase from $147,515,000 as of December 31, 2023[9] - The total accounts payable and notes payable at the end of the reporting period was $13.838 million, down from $21.342 million at the end of 2023, representing a decrease of approximately 35.2%[31] Cash Flow - For the six months ended June 30, 2024, the company reported a net cash flow from operating activities of $11,954,000, an increase of 61.5% compared to $7,419,000 for the same period in 2023[10] - The net cash flow from investing activities for the six months ended June 30, 2024, was $6,093,000, compared to $4,679,000 for the same period in 2023, showing an increase of 30.2%[10] - The company incurred a financing cash outflow of $859,000 for the six months ended June 30, 2024, slightly down from $894,000 in the same period of 2023[10] Revenue Breakdown - Revenue breakdown by region shows a significant increase in China, with sales rising to $13,590,000 from $6,997,000, marking a growth of approximately 94%[18] - The United States market saw a decline in revenue, dropping to $40,828,000 from $48,909,000, a decrease of about 16.5%[18] - Total revenue for the six months ended June 30, 2024, was approximately $130.7 million, a rebound from about $115.3 million for the same period in 2023, reflecting a growth of approximately 13.1%[43] Inventory and Costs - The company reported a significant reduction in inventory from $38.177 million in 2023 to $26.955 million in 2024, a decrease of about 29.5%[6] - The total cost of goods sold for the six months ended June 30, 2024, was $96,483,000, compared to $90,542,000 in 2023, indicating an increase of approximately 6.5%[24] Research and Development - The company incurred research and development costs of $1,142,000 for the six months ended June 30, 2024, slightly up from $1,129,000 in 2023[24] Corporate Governance - The company continues to adhere to the corporate governance code as per the listing rules, ensuring high standards of governance[56] - All directors confirmed compliance with the standard code for securities trading during the reporting period[57] - The company is committed to maintaining a high level of corporate governance to protect shareholders' interests[56] Shareholder Information - The company declared a final dividend of 5.0 HK cents per share, amounting to $7,171,000, compared to $6,002,000 in the previous year, an increase of approximately 19.5%[26] - Major shareholders collectively held 588,000,000 shares, representing 52.5% of the company's equity[65] - Prosperous BVI holds 588,000,000 shares of the company, with ownership percentages distributed among six individuals[66] Market and Development Opportunities - The company is exploring further development opportunities for its land in Panyu, Guangzhou, with a maximum total floor area of approximately 393,338.92 square meters and a significantly improved plot ratio of 4.0 compared to the previous 2.0[45] - The company has identified three external consultants for potential further development of the land, focusing on project management, concept design, and construction drawing design[45] Risks - The company faces foreign exchange risk as its procurement and operating costs are primarily denominated in RMB and VND, while most sales are in USD, with no current foreign exchange hedging policy in place[55]

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of $130.719 million, an increase of 13.4% compared to $115.339 million for the same period in 2023[1] - Gross profit for the same period was $32.386 million, representing a gross margin of 24.8%, up from $23.016 million and a gross margin of 19.9% in 2023[1] - The net profit attributable to shareholders for the six months ended June 30, 2024, was $19.783 million, compared to $9.683 million in the prior year, reflecting a growth of 104.5%[1] - The total comprehensive income attributable to shareholders for the period was $18.422 million, significantly higher than $8.384 million in the same period last year[2] - Basic and diluted earnings per share increased to $1.68, compared to $0.88 for the same period in 2023, marking an increase of 90.9%[2] - The group reported a pre-tax profit of $18.86 million for the six months ended June 30, 2024, compared to $9.87 million for the same period in 2023, representing an increase of 90.5%[17] - Basic earnings per share for the period were $0.0168, up from $0.0088 in the previous year, indicating a growth of 90.9%[17] - Net profit attributable to shareholders increased by approximately $9.0 million or 91.1% to about $18.9 million, with earnings per share rising from $0.88 to $1.68[27] Assets and Liabilities - Non-current assets totaled $41.526 million as of June 30, 2024, slightly down from $42.136 million at the end of 2023[3] - Current assets increased to $161.967 million from $153.556 million at the end of 2023, driven by a rise in trade receivables[3] - The company's cash and cash equivalents rose to $58.672 million, up from $42.269 million at the end of 2023, indicating improved liquidity[3] - Total equity increased to $160.202 million as of June 30, 2024, compared to $148.951 million at the end of 2023, reflecting a growth of 7.4%[5] - Trade receivables as of June 30, 2024, were $60.98 million, up from $49.43 million as of December 31, 2023, reflecting a growth of 23.4%[19] - Accounts receivable at the end of the reporting period totaled $60.782 million, up from $49.233 million at the end of December 31, 2023, reflecting a significant increase[20] - Accounts payable and notes payable at the end of the reporting period totaled $13.838 million, down from $21.342 million at the end of December 31, 2023[21] Revenue Breakdown - Revenue from the US market decreased to $40.83 million, down 16.5% from $48.91 million year-over-year[9] - Revenue from Belgium increased significantly to $19.63 million, up 40.5% from $13.99 million in the previous year[9] - Sales volume increased from approximately 10.9 million units in the same period last year to about 12.6 million units, representing an increase of approximately 1.7 million units or 15.4%[25] - Sales revenue from outdoor and sports categories recorded strong double-digit growth, accounting for over 81% of total revenue[25] Expenses and Dividends - The group incurred a tax expense of $0.93 million for the six months ended June 30, 2024, compared to a tax credit of $0.18 million in the same period of 2023[15] - The company declared a final dividend of 5.0 HK cents per share, compared to 4.2 HK cents in the previous year, marking an increase of 19%[16] - Sales and distribution expenses rose to approximately $6.1 million, a 12.2% increase from about $5.5 million in the previous year, primarily due to increased shipment volumes[27] Capital Expenditures and Investments - The group purchased property, plant, and equipment for approximately $798,000 during the period, compared to $777,000 in the same period of 2023[18] - Capital expenditures for the period were $0.8 million, consistent with the previous year, primarily for the acquisition of property, plant, equipment, and intangible assets[28] Corporate Governance and Compliance - The company adheres to high standards of corporate governance and has complied with the corporate governance code throughout the period[36] - The audit committee, consisting of three independent non-executive directors, reviewed the interim financial results for the six months ended June 30, 2024, and found them to comply with applicable accounting standards[39] - The interim financial results were published on the Hong Kong Stock Exchange and the company's website, ensuring transparency and compliance with listing regulations[40] Strategic Plans and Market Position - The company is primarily engaged in the manufacturing and sale of sports bags, handbags, and luggage, with ongoing efforts in market expansion and product development[6] - The company plans to further develop its land use rights in Panyu, Guangdong Province, which covers an area of 137,077.31 square meters, to enhance asset value and profitability[23] - The maximum total floor area of the newly designated industrial land is approximately 393,338.92 square meters, with a significantly improved plot ratio of 4.0 compared to the previous 2.0[24] - The company aims to optimize production capacity distribution from China to Vietnam and Cambodia while maintaining healthy financial conditions to support operations[24] - The company is committed to maximizing shareholder value through efficient production processes and strategic land development opportunities[23] Employee and Operational Information - Employee compensation and benefits are aligned with market levels, with approximately 8,300 employees as of June 30, 2024[32] - The company faced foreign exchange risk as its operating costs are primarily denominated in RMB and VND, while most sales are in USD[35] - The company has no significant contingent liabilities or capital commitments as of June 30, 2024[29][30] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[38] - The company did not buy, sell, or redeem any of its listed securities during the period, and as of June 30, 2024, it held no treasury shares[38] - The company did not declare any interim dividend during the period, consistent with the previous period[38]

Financial Performance - Revenue for the year was $208,138,000, a decrease from $218,188,000 in the previous year, representing a decline of approximately 4.8%[15] - Net profit increased to $43,752,000, up from $40,592,000, reflecting a growth of about 5.3% year-over-year[15] - Basic and diluted earnings per share rose to 14.879 cents, compared to 10.345 cents in the previous year, marking an increase of approximately 43.8%[15] - Gross profit margin improved to 21.0%, up from 18.6% in the previous year, indicating enhanced operational efficiency[15] - The company's gross profit increased from approximately $40.6 million in 2022 to $43.8 million in 2023, with a gross margin improvement from 18.6% to 21.0%[50] - Total revenue for the year ended December 31, 2023, was approximately $208.1 million, a decrease of about $10.1 million or 4.6% compared to approximately $218.2 million in 2022[101] - The profit attributable to shareholders increased by approximately $4.5 million or 43.8% to $14.9 million compared to about $10.3 million in 2022[102] Liquidity and Financial Position - Current ratio increased to 3.6 from 3.3, while quick ratio improved to 2.7 from 2.3, demonstrating stronger liquidity position[15] - As of December 31, 2023, the company had cash and cash equivalents of approximately $58.1 million and no external borrowings, resulting in a debt-to-equity ratio of zero[84] - The company has maintained a strong financial position with no significant changes in share capital during the year, totaling HKD 11.2 million[94] Operational Efficiency and Cost Management - The overall profit margin significantly improved despite a decline in customer demand, showcasing effective cost management strategies[33] - Sales costs for the year were approximately $164.4 million, a decrease of about $13.2 million or 7.4% compared to approximately $177.6 million in 2022[53] - The focus for 2023 is on streamlining production processes and cost structures to enhance production efficiency[50] - The administrative expenses for the year were approximately $17.6 million, accounting for about 8.5% of total revenue, up from 7.6% in 2022[101] Market Conditions and Customer Demand - The company experienced a softening in customer demand due to high inventory levels among retailers and ongoing geopolitical conflicts[50] - Total sales volume decreased from approximately 20.8 million units in 2022 to about 19.4 million units in the current year, representing a reduction of approximately 1.4 million units or 6.9%[101] - Sales to the Chinese market fell to below 10% of total sales, marking a new low in recent years[99] Corporate Governance and Management - The management team has extensive experience, with key executives having over 36 years in manufacturing and management roles[46][47] - The board has proposed a final dividend of HKD 0.05 per share to be paid to shareholders on June 28, 2024[87] - The company has established a multi-regional manufacturing platform with facilities in China, Vietnam, and Cambodia, enhancing supply chain management services[78] - The board held a total of 4 meetings, while the audit committee, remuneration committee, and nomination committee held 3, 2, and 2 meetings respectively[132] Risk Management and Sustainability - The management highlighted a focus on operational efficiency and prudent risk management to navigate market challenges[33] - The company aims to reduce greenhouse gas emissions and embed environmental and social goals into business processes[160][162] - The company has implemented anti-bribery and anti-corruption policies to identify and eliminate unethical business practices[137] - The company is committed to complying with all relevant environmental laws and regulations, ensuring adherence to significant environmental legal requirements during the reporting year[195] Stakeholder Engagement and Corporate Social Responsibility - The company emphasizes transparency and accountability in its ESG risk management and internal control systems[146] - The company engages with stakeholders to understand their concerns and expectations regarding significant ESG issues, prioritizing these matters in its strategy[191] - The company aims to improve customer satisfaction with high-quality products and services to achieve sustainable growth[62] - The company emphasizes the importance of corporate social responsibility (CSR) as part of its business strategy, integrating environmental, social, and governance (ESG) considerations into its operations[184] Future Outlook - The company remains cautiously optimistic about long-term growth despite macroeconomic uncertainties, including high inflation and interest rates[51] - The company plans to continue monitoring macroeconomic developments and adapt its operations accordingly[51] - The company plans to continue seeking growth opportunities and adapting to changing market dynamics[33] - The company is closely monitoring macroeconomic and geopolitical conditions to adjust its operations for sustainable growth and shareholder returns[190]

Financial Performance - The company's total revenue for the year 2023 was $208,138,000, a decrease of 4.8% from $218,188,000 in 2022[10] - Gross profit for 2023 was $43,752,000, compared to $40,592,000 in 2022, reflecting an increase of 5.3%[19] - The net profit attributable to shareholders for 2023 was $14,879,000, up from $10,345,000 in 2022, representing a growth of 43.5%[19] - Total comprehensive income attributable to shareholders rose from $7,071 thousand in 2022 to $13,335 thousand in 2023, an increase of about 88%[29] - The company reported a total income from other sources of $3,410 thousand in 2023, compared to $2,632 thousand in 2022, marking an increase of about 30%[34] - The company reported a net loss of $21 thousand from the sale/write-off of property, plant, and equipment in 2023, compared to a loss of $14 thousand in 2022[36] - Basic earnings per share increased from 0.92 cents in 2022 to 1.33 cents in 2023, reflecting a rise of 0.41 cents[84] Revenue Sources - Sales of outdoor and sports bags amounted to $159,849,000 in 2023, slightly up from $157,176,000 in 2022[4] - Revenue from the United States was $73,359,000 in 2023, down from $92,566,000 in 2022, indicating a decline of 20.7%[16] - Major customer A contributed $81,646,000 to total revenue in 2023, an increase from $76,507,000 in 2022[13] - The outdoor and sports category remains the core segment, accounting for over 76% of total revenue[118] Assets and Liabilities - Non-current assets in mainland China decreased to $17,328,000 in 2023 from $19,658,000 in 2022[12] - Non-current assets decreased from $46,658 thousand in 2022 to $42,136 thousand in 2023, a decline of approximately 9%[21] - Current assets increased from $143,173 thousand in 2022 to $153,556 thousand in 2023, an increase of about 7%[21] - Total liabilities decreased from $42,840 thousand in 2022 to $43,158 thousand in 2023, showing a slight increase of about 0.7%[21] - The total value of non-current liabilities decreased from $5,373 thousand in 2022 to $3,583 thousand in 2023, a reduction of approximately 33%[23] - The net asset value increased from $141,618 thousand in 2022 to $148,951 thousand in 2023, representing a growth of approximately 5%[23] Expenses - Administrative expenses for the year were approximately $17.6 million, representing about 8.5% of total revenue, up from 7.6% in 2022[83] - Research and development expenses were $2,311 thousand in 2023, slightly down from $2,357 thousand in 2022[36] - Sales and distribution expenses for the year were approximately $11.0 million, a decrease of about $1.3 million or 10.5% due to reduced shipment volumes and a general decline in global shipping costs[118] Dividends and Shareholder Returns - The proposed final dividend for 2023 is 5.0 Hong Kong cents per share, up from 4.2 Hong Kong cents per share in 2022[39] - The board has proposed a final dividend of HK$0.05 per share to shareholders listed on the register as of June 28, 2024[123] Market and Operational Insights - The company expects continued cautious order placements from customers in the short term due to macroeconomic uncertainties[43] - The production capacity in Vietnam and Cambodia accounted for over 90% of the group's total production capacity, as sales to the Chinese market fell below 10% of total sales[81] - The company faced foreign exchange risks due to its procurement and operational costs being primarily denominated in RMB, VND, and USD, while most sales proceeds were received in USD[105] Employee and Workforce - The group had approximately 8,500 employees as of December 31, 2023, compared to about 7,500 employees in 2022[59] Other Financial Metrics - Bank interest income significantly increased from $418 thousand in 2022 to $1,638 thousand in 2023, a rise of approximately 291%[34] - Government grants decreased from $133 thousand in 2022 to $25 thousand in 2023, a decline of about 81%[34] - Rental income from investment properties remained stable, with fixed payments slightly increasing from $807 thousand in 2022 to $816 thousand in 2023[34] - Cost of goods sold decreased to $160,856 thousand in 2023 from $172,796 thousand in 2022, representing a reduction of approximately 6.9%[36] - Total sales volume decreased from approximately 20.8 million units in 2022 to about 19.4 million units in the current year, representing a decline of approximately 1.4 million units or 6.9%[118] - The average selling price per unit slightly increased from $10.5 to $10.7, offsetting some of the sales volume decline[118]

Financial Performance - For the six months ended June 30, 2023, the total comprehensive income attributable to shareholders was $8,384,000, compared to $5,198,000 for the same period in 2022, representing a 61.9% increase[17]. - The basic and diluted earnings per share for the period were 0.88 cents, up from 0.66 cents in the previous year, indicating a 33.3% growth[17]. - The company achieved a profit attributable to shareholders of $9,867,000, representing an increase of 33.1% from $7,412,000 in the prior year[36]. - The net profit before tax for the six months ended June 30, 2023, was $9,867,000, compared to $7,412,000 for the same period in 2022, indicating an increase of 33.1%[78]. - The group reported a net profit before tax of $151,000 for the six months ended June 30, 2023, compared to $227,000 for the same period in 2022, representing a decrease of approximately 33.4%[55]. Revenue and Sales - The company reported revenue of $115,339,000 for the six months ended June 30, 2023, a decrease of 7.5% compared to $124,540,000 for the same period in 2022[36]. - Total revenue for the six months ended June 30, 2023, was approximately $115.3 million, a decrease of about $9.2 million or 7.4% compared to approximately $124.5 million in the same period last year[116]. - Revenue from the United States decreased to $48,909,000 from $54,869,000, representing a decline of 10.5%[70]. - Revenue from China decreased significantly to $6,997,000 from $15,499,000, a drop of 54.9%[70]. - Sales volume decreased from approximately 12.1 million units to about 10.9 million units, representing a decline of approximately 1.2 million units or 9.9%[116]. - The outdoor and sports category accounted for over 73% of total revenue, remaining the core category for the company[116]. Expenses and Costs - The cost of goods sold for the six months ended June 30, 2023, was $90,542,000, down from $98,271,000 in the previous year, reflecting a decrease of 7.8%[74]. - The group’s total expenses for the period were $1,403,000, an increase from $1,331,000 in the previous year, indicating a rise of approximately 5.4%[58]. - Sales and distribution expenses were approximately $5.5 million, a decrease of about $1.5 million or 21.6% compared to approximately $7.0 million in the same period last year[117]. - The group’s sales cost was approximately $92.3 million, a decrease of about $7.9 million or 7.9% from approximately $100.2 million in the same period last year[133]. Cash Flow and Assets - Cash flows from operating activities for the six months ended June 30, 2023, were $7,419,000, significantly higher than $1,207,000 in the same period last year, marking a 514.5% increase[24]. - The net cash and cash equivalents at the end of the period were $46,749,000, an increase from $36,521,000 at the end of the same period last year, representing a 28.1% rise[24]. - The total non-current assets as of June 30, 2023, were $44,056,000, down from $46,658,000 as of December 31, 2022, reflecting a decrease of 5.6%[18]. - Current assets totaled $141,441,000 as of June 30, 2023, slightly down from $143,173,000 at the end of 2022, a decrease of 1.2%[18]. - As of June 30, 2023, the company had cash and cash equivalents of approximately $52.5 million and no external borrowings, resulting in a zero debt-to-equity ratio[101]. Equity and Liabilities - The total liabilities decreased from $42,840,000 to $36,902,000, a reduction of 13.9%[19]. - The company’s total equity increased to $144,000,000 as of June 30, 2023, compared to $141,618,000 at the end of 2022, reflecting a growth of 2.0%[19]. - Trade receivables at the end of the reporting period were $55,801,000, up from $42,239,000 at the end of the previous year, reflecting an increase of approximately 32.2%[62]. Investments and Capital Expenditure - The cash flow from investing activities for the six months ended June 30, 2023, was $4,679,000, compared to $1,796,000 in the previous year, indicating a 160.5% increase[24]. - The group invested approximately $777,000 in property, plant, and equipment during the period, down from $909,000 in the same period last year, indicating a decrease of about 14.5%[61]. - Capital expenditure for the period was $0.8 million, primarily for the acquisition of properties, plants, and equipment, as well as intangible assets[135]. Dividends and Shareholder Information - The group declared a final dividend of 4.2 HK cents per share, amounting to approximately $0.54, compared to a special dividend of $1,427,000 in the previous year[58]. - The company did not recommend an interim dividend for the six months ended June 30, 2023, consistent with the previous year[77]. - Prosperous BVI holds 588,000,000 shares, representing 52.5% of the company's equity[150]. - Great Pacific Investment Limited, a wholly-owned subsidiary of Yu Yuan, holds 252,000,000 shares, accounting for 22.5% of the company's equity[151]. Operational Insights - The company operates a single business segment focused on the production and sale of sports bags, handbags, and luggage[31]. - The company has shifted production capacity from China to Vietnam and Cambodia, with these locations accounting for over 90% of total production capacity during the period[95]. - The company remains cautiously optimistic about long-term growth in its manufacturing business despite ongoing inventory destocking and inflationary pressures[95]. - The company plans to continue exploring market expansion opportunities and new product development strategies[36]. Risk Management - The company faced foreign exchange risks due to its procurement and operating costs being primarily denominated in RMB and VND, while most sales were in USD[141]. - The company has maintained consistent accounting policies with no significant impact on financial performance from new accounting standards adopted[29]. - The audit committee has reviewed the unaudited interim financial results for the six months ending June 30, 2023, ensuring compliance with applicable accounting standards[162].

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，概不對因本公佈全部或任 何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 PROSPEROUS INDUSTRIAL (HOLDINGS) LIMITED 其 利 工 業 集 團 有 限 公 司 （於開曼群島註冊成立的有限責任公司） （股份代號：1731） 截至二零二三年六月三十日止六個月的中期業績公佈 中期業績 其利工業集團有限公司（「本公司」）的董事（「董事」）會（「董事會」）欣然公佈本公 司及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月的未經審 核簡明綜合業績以及二零二二年同期的比較數字如下： 簡明綜合損益及其他全面收益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 附註 二零二三年 二零二二年 （未經審核）（未經審核） 千美元 千美元 ...

Executive Compensation - The basic salary of Executive Director Mr. Yang Shujian has been adjusted to HKD 189,500 per month starting from January 1, 2023[1]. - The basic salary of Executive Director Mr. Yang Hong has been adjusted to HKD 148,500 per month starting from January 1, 2023[2]. - The basic salary of executive director Yang Shujia will be adjusted to HKD 137,500 per month starting January 1, 2023[42]. - The basic salary of CEO Yang Shuxiong will be adjusted to HKD 175,000 per month starting January 1, 2023[43]. Shareholder Information - As of December 31, 2022, Mr. Yang Shujian holds 12 shares in Prosperous Holdings, representing 12% of the issued shares[29]. - As of December 31, 2022, Mr. Yang Shujia holds 6 shares in Prosperous BVI, representing 6% of the issued shares[29]. - As of December 31, 2022, Mr. Yang Hong holds 6 shares in Prosperous BVI, representing 6% of the issued shares[29]. - Prosperous BVI holds 588,000,000 shares, representing 52.5% of the company's equity[33]. - Great Pacific Investments Limited and its affiliates collectively own 252,000,000 shares, accounting for 22.5% of the company's equity[33]. - No shareholders known to the directors hold more than 5% of the company's shares among major customers and suppliers[39]. Financial Performance - The company's total revenue for the fiscal year ended December 31, 2022, surged to approximately $218.2 million, an increase of about $71.5 million or 48.8% compared to approximately $146.7 million in 2021[66]. - The profit attributable to shareholders for the year was approximately $10.3 million, an increase of about $6.4 million or 165.1% compared to approximately $3.9 million in 2021[71]. - The gross profit for the year was approximately $40.6 million, up from approximately $31.3 million in 2021, while the gross margin decreased from 21.3% in 2021 to 18.6% due to changes in sales mix and rising raw material and labor costs[69]. - The company's revenue for the year ended December 31, 2022, was $157.176 million, representing a 72.0% increase in sales volume to 14,719 thousand units with an average selling price of $10.7 per unit[109]. - Revenue for the year 2022 was $218,188,000, an increase of 48.8% compared to $146,673,000 in 2021[184]. - Net profit for 2022 was $10,345,000, representing a significant increase of 164.5% from $3,902,000 in 2021[184]. - Basic and diluted earnings per share for 2022 were 0.92 cents, compared to 0.35 cents in 2021[184]. Operational Highlights - Total sales volume increased from approximately 16.9 million units in 2021 to approximately 20.8 million units in the current year, representing an increase of about 3.9 million units or 23.1%[69]. - The average selling price per unit increased from $8.7 to $10.5 due to strong demand from two major customers[69]. - The company's production capacity in Vietnam and Cambodia accounted for approximately 90% of total capacity, reflecting a strategic shift from China[66]. - All product categories experienced strong double-digit growth, with the fashion and leisure category nearly doubling its revenue compared to 2021[69]. - The group has maintained a strong financial position with cash and cash equivalents of approximately $44.0 million and no external borrowings as of December 31, 2022[93]. - The group successfully acquired several new clients during the year and aims to continue attracting well-known brand owners to expand its customer base[88]. Expenses and Investments - Administrative expenses for the year were approximately $16.5 million, a decrease of about $0.6 million or 3.5% compared to approximately $17.1 million in 2021, attributed to stricter cost control measures[70]. - Sales and distribution expenses for the year were approximately $12.2 million, an increase of about $1.0 million or 8.8%, primarily due to increased shipment volumes[110]. - Capital expenditures for the year amounted to $2.5 million, primarily due to the acquisition of properties, plants, and equipment[93]. - An investment of HKD 30.8 million is designated for upgrading existing production machinery and establishing R&D centers to improve production efficiency and capacity[105]. - The group plans to enhance manufacturing capabilities and flexibility through the expansion of its Cambodian manufacturing platform, with an allocation of HKD 135.5 million for this purpose[105]. Dividends and Reserves - The company's available reserves for distribution as of December 31, 2022, amounted to $68.7 million, of which $6.1 million has been proposed for distribution as the final dividend for the year[142]. - The board has proposed a final dividend of 4.2 HK cents per share to shareholders listed on the register on June 29, 2023[118]. - Proposed final dividend for 2022 is 4.2 HK cents per share, compared to 1 HK cent per share in 2021[189]. Market Outlook and Strategy - The company remains cautiously optimistic about the global economic recovery post-COVID-19, despite challenges from inflation and rising interest rates[67]. - The company plans to continue monitoring market conditions and collaborating closely with partners to achieve sustainable business growth[67]. - The company is committed to ongoing business development and market expansion strategies[174]. - The company continues to focus on sustainable growth and improving customer satisfaction with quality products and services[174]. Risks and Compliance - The company faces foreign exchange risks as its procurement and operating costs are primarily denominated in RMB, VND, and USD, while most sales are collected in USD[117]. - The effective tax rates remained stable across regions, with Hong Kong at 16.5%, Vietnam at 20%, and mainland China at 25%[187]. - The company has purchased and maintained liability insurance for directors and executives to provide appropriate protection against certain legal actions[150]. - The company has no significant acquisitions or disposals of subsidiaries or associates for the year ended December 31, 2022[112]. - The company has no significant investments as of December 31, 2022[115]. - The company has no pledged assets as of December 31, 2022[116]. - The company has not made any charitable donations during the year[124]. - The company has not entered into any management or administrative contracts related to any significant part of its business during the year[27]. - There are no significant contracts established with the controlling shareholder or its subsidiaries during the year[28].