| --- | --- | |---------------------------------------------------|-------| | | | | 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公司） 股份代號 ：1731 | 2020 | 目錄 目錄 公司資料 2 財務摘要 3 主席報告 4 董事及高級管理層履歷 5 管理層討論及分析 10 董事會報告 14 企業管治報告 31 環境、社會與管治報告 45 獨立核數師報告 60 綜合損益及其他全面收入表 66 綜合財務狀況表 67 綜合權益變動表 68 綜合現金流量表 69 財務報表附註 71 五年財務概要 140 1 其利工業集團有限公司 公司資料 公司資料 執行董事 楊樹堅先生（主席） 楊樹佳先生 楊宏先生 非執行董事 鄒志明先生 蔡乃湧先生 授權代表 楊宏先生 張瀟女士 核數師 安永會計師事務所 執業會計師及註冊公眾利益實體核數師 註冊辦事處 Cricket Square, Hutchins Drive P.O. Box 26 ...

Financial Performance - Revenue for the six months ended June 30, 2020, was $98,493,000, a decrease of 20.2% compared to $123,413,000 for the same period in 2019[6] - Gross profit for the same period was $20,544,000, down 21.1% from $26,026,000 in 2019[6] - Profit attributable to shareholders for the six months was $5,030,000, an increase of 23.7% from $4,067,000 in 2019[6] - Total comprehensive income attributable to shareholders was $8,193,000, compared to $4,165,000 in the previous year, reflecting a significant increase[9] - The total comprehensive income for the six months ended June 30, 2020, was $90,198,000, compared to $142,638,000 for the same period in 2019[15] - The company reported a basic and diluted earnings per share of 0.45 cents for the period, compared to 0.36 cents in 2019[9] - The company’s weighted average number of ordinary shares issued remained stable at 1,120,000,000 shares for both periods[48] - The net profit attributable to shareholders increased by approximately $0.9 million or 22.0% to about $5.0 million for the period[72] Assets and Liabilities - Non-current assets as of June 30, 2020, totaled $54,535,000, up from $52,828,000 at the end of 2019[11] - Current assets decreased to $130,839,000 from $135,734,000 at the end of 2019, primarily due to a reduction in inventory[11] - Current liabilities decreased significantly to $33,973,000 from $45,704,000 at the end of 2019, indicating improved liquidity[11] - Trade receivables at the end of June 30, 2020, were $46,394,000, an increase from $42,252,000 at the end of December 31, 2019, representing a growth of about 9.1%[52] - Trade payables at the end of June 30, 2020, were $9,155,000, a decrease from $17,620,000 at the end of December 31, 2019, indicating a reduction of approximately 48.0%[56] - The company’s retained earnings as of June 30, 2020, were $85,168,000, compared to $134,445,000 at the end of 2019[15] Cash Flow - For the six months ended June 30, 2020, the company reported a net cash flow from operating activities of $7,974,000, compared to a negative cash flow of $(15,305,000) for the same period in 2019[19] - The company achieved a net cash flow from investing activities of $12,720,000, significantly up from $2,063,000 in the prior year[19] - As of June 30, 2020, the company's cash and cash equivalents increased to $56,770,000 from $36,808,000 at the end of 2019[19] - The company had cash and cash equivalents of approximately $56.8 million as of June 30, 2020, with no external borrowings, resulting in a capital debt ratio of zero[73] Expenses and Costs - The cost of goods sold for the six months ended June 30, 2020, was $75,674 thousand, compared to $95,428 thousand in 2019, indicating a reduction of 20.7%[42] - Administrative expenses were approximately $9.9 million, a decrease of about $3.0 million or 23.3% from $12.9 million in the same period last year[70] - Financing costs for the six months ended June 30, 2020, were $290 thousand, slightly down from $300 thousand in the previous year[41] - Total tax expenses for the period amounted to $712,000, down from $1,680,000 in the previous year, indicating a decrease of about 57.6%[45] Market and Revenue Breakdown - Revenue from outdoor and sports bags was $71,445 thousand, down 11.7% from $80,933 thousand in the previous year[35] - Revenue from the United States market decreased to $35,405 thousand, a decline of 31.4% from $51,671 thousand in 2019[37] - Total customer contract revenue for the six months ended June 30, 2020, was $98,493 thousand, a decrease of 20.2% compared to $123,413 thousand in 2019[35] Investments and Capital Expenditures - The company invested $550,000 in property, plant, and equipment during the six months ended June 30, 2020[19] - Capital expenditures for the six months ended June 30, 2020, were $0.6 million, primarily due to the acquisition of property, plant, and equipment[73] - The group reported a pre-tax profit of $1,300 thousand from research and development costs for the six months ended June 30, 2020[42] Corporate Governance and Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[6] - The company continues to monitor the impact of the COVID-19 pandemic on its operations and is prepared to adapt its strategies accordingly[84] - The board has adopted corporate governance practices in line with the Stock Exchange's requirements, maintaining high standards of governance[89] Shareholder Information - The company did not declare an interim dividend for the six months ended June 30, 2020, compared to a total dividend of $7,134,000 for the same period in 2019[46] - Prosperous BVI holds 588,000,000 shares, representing 52.5% of the company's equity[103] - Great Pacific Investments Limited and its subsidiaries collectively own 252,000,000 shares, accounting for 22.5% of the company's equity[103]

Financial Performance - Revenue for 2019 was $223.161 million, a slight increase from $221.849 million in 2018[26] - Gross profit decreased to $47.291 million, down from $49.475 million in the previous year, resulting in a gross margin of 21.2%[26] - The company reported a net loss of $566,000 for 2019, compared to a profit of $7.370 million in 2018[26] - Total assets decreased to $188.562 million from $190.072 million in 2018[26] - Total equity fell to $134.445 million, down from $142.601 million the previous year[26] - The group's total revenue for the year was approximately $223.2 million, a slight increase of about $1.4 million or 0.6% compared to approximately $221.8 million in 2018[55] - The group reported a loss attributable to shareholders of $0.6 million for the year, compared to a profit of approximately $7.4 million in 2018, resulting in a loss per share of $0.05 compared to earnings per share of $0.76 in the previous year[58] Operational Changes - The company closed three production facilities in China, reallocating capacity to Vietnam and Cambodia as a strategic move[28] - The group terminated operations at three production plants in China and expanded production capacity in Vietnam and Cambodia, increasing the number of production lines in Cambodia from 48 to 68 by the end of 2019[51] - Following the outbreak of COVID-19 in January 2020, the group's production facilities and offices in China did not resume operations immediately after the Lunar New Year, but the impact was mitigated as most production capacity was reallocated to Vietnam and Cambodia[61] COVID-19 Impact - The operating environment for 2020 is expected to remain challenging due to the COVID-19 pandemic, although operations in Vietnam and Cambodia have not been disrupted[29] - The group anticipates that the recent COVID-19 pandemic will negatively impact its performance in 2020, although it cannot estimate the financial impact at this time[53] - The group will continue to monitor risks related to the pandemic and work closely with suppliers and customers to mitigate adverse effects[53] - The group anticipates that the COVID-19 pandemic will have adverse effects on the global economy, which will also impact its operations, and it will continue to monitor the situation closely[62] Management and Governance - The company aims to strengthen its capital structure and maintain effective corporate governance practices[29] - The management is committed to providing high-quality products and creating value for shareholders in the future[30] - The company has complied with the corporate governance code as outlined in the listing rules for the year ended December 31, 2019[162] - The board is committed to maintaining good corporate governance practices, which are deemed essential for success[163] - The company has implemented a comprehensive training program for new directors to ensure compliance with corporate governance standards[177] Shareholder Information - The board did not recommend the payment of a final dividend for the year ended December 31, 2019, compared to a final dividend of HK$0.015 and a special dividend of HK$0.035 in 2018[77] - The company has a dividend policy aimed at enhancing shareholder value, considering various financial and external factors when declaring dividends[89] - As of December 31, 2019, the company's distributable reserves amounted to USD 64.8 million[88] Employee and Management Structure - The group had approximately 8,800 employees as of December 31, 2019, down from about 10,600 employees in 2018, with compensation and benefits aligned with market levels[70] - The company has established service contracts with its executive directors, effective for three years from July 13, 2018[97] - The company has no significant management contracts or agreements related to its business operations during the year[100] Risk Management - The group faced foreign exchange risks as its procurement and operating costs were primarily denominated in RMB, VND, and USD, while most sales were in USD, with no current foreign exchange hedging policies in place[73] - The company has maintained sufficient public float throughout the year and as of the date of the board report[155] Audit and Compliance - The audit committee discussed and reviewed the group's annual performance, including accounting principles and practices adopted by the group[158] - The independent auditor, Ernst & Young, has been reappointed and confirmed compliance with relevant regulations regarding ongoing connected transactions[160] - The audit committee is tasked with monitoring the integrity of the company's financial statements and reviewing significant financial reporting judgments[185] Directors and Committees - The company has established three committees: the audit committee, remuneration committee, and nomination committee, each with specific written terms of reference[182] - The remuneration committee approved the salary increases for executive directors and senior management for the year starting January 1, 2019, based on current market conditions and performance[192] - The nomination committee is responsible for reviewing the board's structure and composition at least annually and making recommendations for changes[197]

Prosperous Industrial (Holdings) Limited 股份代號: 1731 ( 於開曼群島註冊成立的有限公司) 其利工業集團有限公司 中期報告 2019 MANAGEMENT DISCUSSION AND ANALYSIS lml 目 錄 公司資料 2 簡明綜合損益及其他全面收益表 3 簡明綜合財務狀況表 4 簡明綜合權益變動表 6 簡明綜合現金流量表 7 簡明綜合財務資料附註 9 管理層討論及分析 29 其他資料 35 1 其利工業集團有限公司 中期報告 2019 | --- | --- | |-----------------------------------------------------------------------|----------------------------------------------------------------------------------------------| | | | | 公司資料 | | | 執行董事 | 核數師 | | 楊樹堅先生 （主席） 楊樹佳先生 楊衍釗先生 | 安永會計師事務所 合規顧問 | | 非執 ...

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公司） 股份代號：1731 2018 年報 目錄 目錄 公司資料 2 財務摘要 3 主席報告 4 董事及高級管理層履歷 6 管理層討論與分析 11 董事會報告 16 企業管治報告 31 環境、社會與管治報告 45 獨立核數師報告 61 綜合損益及其他全面收入表 67 綜合財務狀況表 68 綜合權益變動表 69 綜合現金流量表 70 財務報表附註 72 四年財務概要 134 1 其利工業集團有限公司 公司資料 公司資料 執行董事 楊樹堅先生（主席） 楊樹佳先生 楊衍釗先生 非執行董事 盧金柱先生 蔡乃湧先生 獨立非執行董事 丘至中先生 高少德先生 | --- | --- | |---------------------------|----------------------------------------| | | | | | | | 葉國祥先生 | 總部及香港主要營業地點 香港 | | 審核委員會 | 新界葵涌 | | 高少德先生 （委員會主席） | 貨櫃碼頭路 71-75 ...