本公告乃由全達電器集團（控股）有限公司（「本公司」，連同其附屬公司統稱「本集 團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)條及香港法 例第571章證券及期貨條例第XIVA部項下的內幕消息條文（定義見上市規則）作出。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任 。 REM Group (Holdings) Limited 全達電器集團(控股)有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1750） 正面盈利預告 由於本公司仍正在審定中期期間之中期業績，故本公告所載的資料僅為董事會及本 公司管理層根據本集團中期期間之未經審核綜合管理賬目及目前可得之資料所作 之初步評估，並未經本公司核數師或審核委員會審閱或確認，且尚待最終確定和調 整。本公司中期期間之中期業績公告預計將於二零二五年八月刊發。 本公司股東及有意投資者於買賣本公司證券時，務請審慎行事。 承董事會命 全達電器集團（控股）有限公司 主席兼執行董事 尹民 ...

52周新高排行 智通财经APP获悉，截止8月7日收盘，有102只股票创52周新高，其中世大控股(08003)、全达电器集团 控股(01750)、东吴水泥(00695)创高率位于前3位，分别为30.00%、25.58%、21.62%。 | 六福集团(00590) | 22.420 | 22.500 | 0.67% | | --- | --- | --- | --- | | 中国飞机租赁(01848) | 4.630 | 4.820 | 0.63% | | 隽思集团(01412) | 1.650 | 1.680 | 0.60% | | 周大福(01929) | 13.790 | 14.070 | 0.50% | | Ａ三星亚太元宇宙 | 21.100 | 21.100 | 0.48% | | (03172) | | | | | Ａ博时人民币－Ｒ | 1,064.000 | 1,064 | 0.47% | | (83192) | | | | | 渣打集团(02888) | 145.800 | 148.200 | 0.45% | | 西部水泥(02233) | 2.220 | 2.260 | 0.44% | | CW ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 REM Group (Holdings) Limited 全達電器集團(控股)有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1750） 主席兼執行董事 尹民強 香港，二零二五年八月七日 於本公告日期，本公司執行董事為尹民強先生及梁家威先生；本公司非執行董 事為簡尹慧兒女士；及本公司獨立非執行董事為吳志強先生、鄭森興先生及 吳晶瑩女士。 董事會會議通知 全達電器集團（控股）有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議 將於二零二五年八月二十日（星期三）舉行，董事會將於會上（其中包括）考慮及酌情 批准刊發本公司及其附屬公司截至二零二五年六月三十日止六個月之中期業績公 告，以及釐定中期股息（如有）。 承董事會命 全達電器集團（控股）有限公司 ...

截至月份: 2025年7月31日 狀態: 新提交 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 全達電器集團(控股)有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01750 | 說明 | 全達電器集團控股 | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/註冊股本總 ...

Financial Performance - The Group's revenue decreased by approximately HK$26.0 million, from approximately HK$166.8 million in Year 2023 to approximately HK$140.8 million in Year 2024, representing a decline of about 15.6%[10][17]. - The net profit for Year 2024 was approximately HK$1.7 million, compared to approximately HK$7.0 million in Year 2023, indicating a significant decrease in profitability[10][18]. - Revenue from sales in Hong Kong, Macau, and Mainland China for Year 2024 amounted to approximately HK$133.0 million, HK$6.3 million, and HK$1.5 million, respectively[17]. - The Group's cost of sales amounted to approximately HK$104.2 million for the Year 2024, representing a decrease of approximately 16.6% from approximately HK$124.9 million for the Year 2023[23][27]. - The Group's gross profit decreased by approximately HK$5.3 million, or approximately 12.6%, from approximately HK$41.9 million for the Year 2023 to approximately HK$36.6 million for the Year 2024, while the overall gross profit margin increased from approximately 25.1% to approximately 26.0%[24][28]. - The Group's selling and distribution expenses decreased by approximately HK$1.0 million, or approximately 17.5%, from approximately HK$5.7 million for the Year 2023 to approximately HK$4.7 million for the Year 2024[30][35]. - The Group's administrative and other expenses increased by approximately HK$1.3 million, or approximately 4.2%, from approximately HK$30.6 million for the Year 2023 to approximately HK$31.9 million for the Year 2024[31][36]. - The Group recorded a net profit for the year attributable to the owners of the Company of approximately HK$1.7 million for the Year 2024, compared to approximately HK$7.0 million for the Year 2023[34][39]. Market Conditions - The decline in sales orders was primarily due to reduced construction activity and economic uncertainties affecting the real estate and infrastructure sectors[18]. - The overall market sentiment remains weak, with fierce competition in the construction industry impacting short-term performance[19]. - The Group remains optimistic about long-term prospects despite short-term uncertainties in the low-voltage electrical power distribution and control devices industry[19][21]. - The Group is committed to closely monitoring market conditions and proactively responding to new business inquiries to maintain competitiveness[12]. - Management is enhancing capabilities to adapt to environmental changes and market dynamics, ensuring timely adjustments to business strategies[9]. - The Group's management emphasizes the importance of resource allocation to ensure stable development amidst macroeconomic fluctuations[9]. Employee and Staffing - As of December 31, 2024, the Group had 221 full-time employees, a decrease from 229 employees in 2023, indicating a reduction of approximately 3.5%[66]. - The Group's total staff costs for the Year 2024 were approximately HK$39.4 million, an increase from approximately HK$38.4 million in 2023, reflecting a growth of about 2.6%[66]. - The remuneration of senior management for the Year 2024 is categorized, with 2 individuals earning between HK$Nil to HK$1,000,000[174]. Corporate Governance - The Company has complied with all mandatory disclosure requirements and applicable code provisions of the Corporate Governance Code for the Year 2024[100]. - The Board is committed to enhancing corporate governance standards to meet rising expectations and regulatory requirements[101]. - The Board ensures a balanced composition with a strong independent element to effectively exercise independent judgment[114]. - Independent non-executive Directors are appointed to Board committees to ensure independent views are available[116]. - The Nomination Committee assesses the independence of independent non-executive Directors annually to ensure their ability to exercise independent judgment[116]. - The Company has adopted the Model Code for Securities Transactions by Directors to govern securities transactions[102]. - The Company has received written annual confirmation of independence from each independent non-executive Director, ensuring they are independent of management[128]. - The Board is responsible for leadership and control of the Company, overseeing strategic decisions and performance[137]. - The Board regularly reviews the contributions required from each Director to fulfill their responsibilities[143]. - The Company has a board diversity policy that emphasizes a balance of skills, experience, and perspectives among Board members[182]. Risk Management - The Group's risk management system is led by Directors, who consider macro and microeconomic conditions before making business decisions, aiming to embed risk awareness into the corporate culture[60]. - The Group has minimal exposure to foreign currency risk, as most transactions are conducted in the functional currencies of the relevant group entities, leading to no current foreign currency hedging policy[56]. - The Group's projects are awarded on a non-recurring basis through tendering, which poses a risk to financial performance if the success rate for obtaining new projects declines[59]. Use of Proceeds - The net proceeds from the Company's listing on May 11, 2018, were approximately HK$75.0 million, which was HK$14.7 million lower than the estimated net proceeds of HK$89.7 million disclosed in the Prospectus[67]. - As of December 31, 2024, approximately HK$17.9 million of the net proceeds remained unutilized and is expected to be applied according to the planned use disclosed in the prospectus[72]. - The company has decided to extend the expected timeline for utilizing the unutilized net proceeds over the next two financial years to finalize strategic procurement plans and optimize cost efficiencies[75]. - The allocation of net proceeds includes HK$37.4 million for the acquisition of a factory in Mainland China and HK$21.2 million for the purchase of machinery and equipment[71]. - General working capital utilized amounted to HK$15.6 million, with a remaining balance of HK$4.5 million as of December 31, 2024[71]. - The company has no current intention to change the planned use of the net proceeds as disclosed in the prospectus[76]. Board Composition and Experience - The Board comprises six Directors, including two executive Directors, one non-executive Director, and three independent non-executive Directors as of December 31, 2024[113]. - The Group's executive directors, including Mr. Leung and Mr. Yuen, have over 30 years of experience in the low-voltage electrical power distribution and control devices industry[82][84]. - The Group was founded on August 25, 1992, by Mr. Yuen and Mr. Leung, indicating a long-standing presence in the industry[80][84]. - The Group's leadership team is well-equipped to navigate market challenges and drive future growth through their extensive industry experience[80][82]. - The Company targets to review gender diversity in the Board and senior workforce in line with business development[186]. - The Board's diversity includes various age groups and professional experiences, enhancing decision-making capabilities[188]. Audit and Compliance - The Audit Committee reviewed the Company's annual results for the Year 2024 and confirmed compliance with applicable accounting standards and adequate disclosure[152]. - The Audit Committee convened 3 meetings during the Year 2024 to oversee financial and internal control aspects, risk management, and audit plans[152]. - The Audit Committee conducts an annual assessment of the effectiveness of the Group's internal controls and financial controls system[148]. - The Audit Committee reviewed the independence of external auditors, Cheng & Cheng Limited, ensuring objectivity in their reporting[199].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 140,792,000, a decrease of 15.6% compared to HKD 166,784,000 in the previous year[2] - Gross profit for the same period was HKD 36,627,000, down 12.7% from HKD 41,921,000 in the prior year[2] - The company recorded a net profit of HKD 1,657,000, a significant decline of 76.4% from HKD 6,998,000 in the previous year[2] - Basic and diluted earnings per share decreased to HKD 0.09 from HKD 0.39, representing a decline of 76.9%[2] - The company reported a pre-tax profit of HKD 1,865,000, down 76.7% from HKD 7,983,000 in 2023[21] - The net profit attributable to the company's owners for fiscal year 2024 was approximately HKD 1.7 million, compared to approximately HKD 7.0 million in 2023[48] - The cost of sales for fiscal year 2024 was approximately HKD 104.2 million, a reduction of about 16.6% from approximately HKD 124.9 million in 2023[40] - The gross profit for fiscal year 2024 was approximately HKD 36.6 million, down about 12.6% from approximately HKD 41.9 million in 2023, while the overall gross margin increased from about 25.1% in 2023 to about 26.0% in 2024[41] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 174,412,000, slightly up from HKD 171,999,000 in the previous year[3] - The company's inventory increased to HKD 42,900,000 from HKD 36,190,000, reflecting a rise of 18.5%[3] - Current liabilities rose to HKD 38,929,000, compared to HKD 33,505,000, indicating an increase of 16.5%[3] - Non-current liabilities decreased to HKD 1,637,000 from HKD 2,603,000, a reduction of 37.1%[4] - The company's net asset value remained relatively stable at HKD 167,337,000, down slightly from HKD 167,932,000[4] - Trade receivables decreased to approximately HKD 41.7 million in 2024 from approximately HKD 56.4 million in 2023, with a significant drop in receivables aged 0 to 30 days[30] - The company's trade payables increased to approximately HKD 27.6 million in 2024 from approximately HKD 21.7 million in 2023[31] - As of December 31, 2024, the current assets minus current liabilities (working capital) was approximately HKD 135.5 million, a slight decrease from HKD 138.5 million as of December 31, 2023[49] - The debt-to-equity ratio as of December 31, 2024, was 0%, down from 1.6% as of December 31, 2023, due to the repayment of short-term loans during the year[49] Revenue Breakdown - Revenue from low-voltage distribution cabinets was HKD 62,444,000, down 4.4% from HKD 65,349,000 in the previous year[15] - Revenue from motor control centers decreased by 31.9% to HKD 16,800,000 from HKD 24,657,000[15] - Revenue from external customers in Hong Kong was HKD 133,001,000, a decline of 9.0% from HKD 146,212,000[16] - The company's revenue for the fiscal year 2024 decreased by approximately 15.6% to about HKD 140.8 million, down from approximately HKD 166.8 million in 2023[36] Expenses and Costs - Other income decreased to approximately HKD 2.0 million in 2024 from approximately HKD 2.7 million in 2023, primarily due to lower bank interest income[42] - The company's administrative and other expenses increased by approximately 4.2% to about HKD 31.9 million in 2024 from approximately HKD 30.6 million in 2023[44] - The company recorded an income tax expense of approximately HKD 208,000 in 2024, down from approximately HKD 985,000 in 2023[47] - The total employee costs for the fiscal year 2024 were approximately HKD 39.4 million, compared to HKD 38.4 million in the previous year[62] Corporate Governance and Compliance - The audit committee has reviewed the group’s financial reporting processes, risk management, and internal control systems, ensuring compliance with the relevant regulations[75] - The independent auditor has confirmed that the data in the preliminary performance announcement aligns with the audited financial statements for the fiscal year 2024[76] - The board is committed to maintaining good corporate governance practices and has complied with all provisions of the corporate governance code during the fiscal year 2024[72] Future Outlook and Plans - The company is evaluating the impact of new accounting standards that may affect future financial reporting but expects no significant impact from the current year's application[11] - The company remains optimistic about long-term prospects despite short-term uncertainties in the low-voltage distribution and control equipment industry in Hong Kong, Macau, and mainland China[37] - The company has no plans for significant investments or capital assets beyond those disclosed in previous announcements[54] - The company plans to extend the expected timeline for utilizing the unutilized net proceeds over the next two fiscal years to address the need for additional time to complete strategic procurement plans and optimize cost efficiency[65] Dividends and Shareholder Returns - The company did not declare any dividends for 2024, consistent with 2023[24] - The company has not paid or proposed any dividends to ordinary shareholders for the fiscal year 2024, consistent with the previous year[74] Miscellaneous - The company has implemented a risk management system to mitigate operational risks, led by senior management[58] - The company has adopted a stock option plan since April 23, 2018, but there have been no unexercised options or any options granted, agreed to be granted, exercised, canceled, or lapsed under the plan[69] - There have been no significant events occurring after December 31, 2024, up to the date of this announcement[68] - The company has not engaged in the purchase, redemption, or sale of any listed securities during the fiscal year 2024[70] - The net proceeds from the IPO were approximately HKD 75.0 million, differing from the estimated net proceeds of HKD 89.7 million disclosed in the prospectus[63] - As of December 31, 2024, the unutilized net proceeds amount to approximately HKD 17.9 million, which is expected to be used according to the company's previously disclosed plans in the prospectus and announcements[65] - The total utilized proceeds for the year amounted to HKD 75.0 million, with HKD 40.6 million utilized by December 31, 2024[65]

R REM Group (Holdings) Limited 全逵電器集團（控股）有限公司 (incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock code 股份代號 : 1750 INTERIM REPORT Ci 前 報 t " " CONTENTS 目錄 目錄 CONTENTS | --- | --- | |--------------------------------------------------------------|------------------------------| | | | | Corporate Information | 公司資料 | | Management Discussion and Analysis | 管理層討論及分析 | | Corporate Governance and Other Information | 企業管治及其他資料 | | Condensed Consolidated Statement of Profit or Loss and ...

Financial Performance - The company's revenue for the six months ended June 30, 2024, was HKD 60,210,000, a decrease of 29.7% compared to HKD 85,753,000 for the same period in 2023[1] - Gross profit for the same period was HKD 12,629,000, down 18.9% from HKD 15,468,000 year-on-year[1] - The net loss for the period was HKD 2,956,000, compared to a profit of HKD 537,000 in the previous year, indicating a significant decline in performance[2] - Total comprehensive expenses for the period amounted to HKD 4,489,000, an increase of 122.3% from HKD 2,018,000 in the prior year[2] - The basic and diluted loss per share for the period was HKD (0.16), compared to earnings of HKD 0.03 per share in the previous year[2] - Revenue decreased by approximately HKD 25.5 million or about 29.8%, from approximately HKD 85.8 million for the six months ended June 30, 2023, to approximately HKD 60.2 million for the six months ended June 30, 2024[26] - The cost of sales for the six months ended June 30, 2024, was approximately HKD 47.6 million, a decrease of about 32.3% from approximately HKD 70.3 million for the same period in 2023[27] - Gross profit decreased by approximately 18.4% to about HKD 12.6 million for the six months ended June 30, 2024, from approximately HKD 15.5 million for the same period in 2023[28] - Other income, gains, and losses (net) decreased from approximately HKD 1.8 million for the six months ended June 30, 2023, to approximately HKD 1.1 million for the same period in 2024[29] - Selling and distribution expenses decreased by approximately 34.5% to about HKD 1.9 million for the six months ended June 30, 2024, from approximately HKD 2.9 million for the same period in 2023[30] - Administrative and other expenses increased by approximately 7.8% to about HKD 14.4 million for the six months ended June 30, 2024, from approximately HKD 13.4 million for the same period in 2023[31] Assets and Liabilities - Non-current assets as of June 30, 2024, were HKD 33,613,000, up from HKD 32,041,000 at the end of December 2023[3] - Current assets increased to HKD 168,073,000 from HKD 171,999,000, reflecting a slight decrease in liquidity[3] - Total liabilities decreased to HKD 163,843,000 from HKD 167,932,000, indicating a reduction in financial obligations[4] - Contract assets amounted to HKD 25,274,000, a decrease from HKD 27,289,000 as of December 31, 2023[20] - The company's cash and bank balances were HKD 55,838,000, up from HKD 53,000,000, showing improved cash flow management[3] - The company's cash and cash equivalents were approximately HKD 55.8 million as of June 30, 2024, compared to approximately HKD 53.0 million as of December 31, 2023[35] - The current ratio (current assets minus current liabilities) was approximately HKD 132.6 million as of June 30, 2024, down from approximately HKD 138.5 million as of December 31, 2023[35] Revenue Breakdown - Revenue from low voltage distribution cabinets was HKD 22,363,000, down 29.1% from HKD 31,543,000 year-on-year[8] - Revenue from motor control centers decreased by 19.7% to HKD 7,458,000 from HKD 9,291,000[8] - Revenue from Hong Kong was HKD 57,009,000, a decline of 18.7% compared to HKD 70,152,000 in the previous year[9] Cash Flow and Financial Management - Interest income for the period was HKD 568,000, down from HKD 683,000 in the previous year[10] - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[15] - The company acquired property, plant, and equipment at a cost of HKD 2,873,000 during the period, significantly higher than HKD 440,000 in the same period last year[17] - The total employee cost for the six months ended June 30, 2024, was approximately HKD 18.6 million, compared to HKD 18.0 million for the same period last year[46] Future Outlook and Risks - The company anticipates a challenging business environment with significant uncertainty but aims to expand its customer base and implement effective cost control measures[25] - The group has no significant foreign currency risk as most transactions and assets are denominated in the functional currency of the respective entities[36] - The group faces cash flow interest rate risk primarily from floating interest rates on bank balances, with no current interest rate hedging policy in place[37] - As of June 30, 2024, the group has no significant investments or acquisitions, nor any major disposals[38] - The group has a capital commitment of HKD 1,000,000 for investments in subsidiaries as of June 30, 2024, unchanged from December 31, 2023[42] - There are no significant contingent liabilities as of June 30, 2024[43] Governance and Reporting - The audit committee has reviewed the unaudited interim results for the six months ended June 30, 2024, and agrees with the accounting principles adopted by the company[52] - The interim results announcement and report will be published on the Hong Kong Stock Exchange and the company's website[53]

Financial Performance - The Group's revenue decreased by approximately HK$52.5 million, from approximately HK$219.3 million in 2022 to approximately HK$166.8 million in 2023, representing a decline of about 23.9%[10][20] - The net profit for the year 2023 was approximately HK$7.0 million, compared to approximately HK$8.3 million in 2022, indicating a decrease in net profit after tax due to reduced revenue[10][21] - Revenue from sales in Hong Kong, Macau, and Mainland China for 2023 amounted to approximately HK$146.2 million, HK$14.4 million, and HK$6.2 million, respectively[20] - The Group's revenue decreased by approximately HK$52.5 million, or approximately 23.9%, from approximately HK$219.3 million in 2022 to approximately HK$166.8 million in 2023, primarily due to the completion of a General Hospital building project in Macau[26][30] - The Group's cost of sales amounted to approximately HK$124.9 million in 2023, representing a decrease of approximately 29.6% from approximately HK$177.3 million in 2022, attributed to cost control strategies[27][31] - The overall gross profit margin increased from approximately 19.1% in 2022 to approximately 25.1% in 2023, despite gross profit remaining stable at approximately HK$41.9 million[28][32] - Other income, gains, and losses decreased by approximately HK$1.4 million, from approximately HK$4.1 million in 2022 to approximately HK$2.7 million in 2023, mainly due to lower bank interest income and exchange gains[29][33] - Selling and distribution expenses decreased by approximately HK$2.5 million, or approximately 30.5%, from approximately HK$8.2 million in 2022 to approximately HK$5.7 million in 2023, in line with the decrease in sales[35][40] - Administrative and other expenses increased by approximately HK$1.7 million, or approximately 5.9%, from approximately HK$28.9 million in 2022 to approximately HK$30.6 million in 2023, mainly due to increased amortization and depreciation[36][41] - The net profit attributable to the owners of the Company was approximately HK$7.0 million in 2023, down from approximately HK$8.3 million in 2022, reflecting the decrease in revenue[39][44] Cost Control and Operational Efficiency - The Group continues to implement cost control strategies and minimize operating expenses to turn losses into profits[19] - The Group aims to enhance operational efficiency and manage cash flow effectively to strengthen its financial position[13] - The management will closely monitor market conditions and adjust business strategies as necessary to mitigate risks[13] - The Group has diversified its sales network and expanded its customer base to achieve sustainable growth[19] Market Conditions and Challenges - The construction market is showing signs of recovery due to the relaxation of travel and social distancing restrictions, although pressures from the global economic environment persist[22] - The ongoing geopolitical tensions and rising interest rates continue to pose challenges to the Group's operations[22] Cash Flow and Financial Position - As of December 31, 2023, the Group had bank balances and cash of approximately HK$53.0 million, a decrease from approximately HK$71.1 million in 2022, mainly due to repayment of short-term loans[47][52] - The gearing ratio as of December 31, 2023, was approximately 1.6%, a significant decrease from 9.2% in 2022, primarily due to the repayment of short-term loans[49] - The average accounts receivable turnover days increased to approximately 150.9 days in 2023 from about 115.6 days in 2022, attributed to a large volume of product deliveries in the last quarter of 2023[53] Corporate Governance and Management - The Group has complied with all applicable laws and regulations in Hong Kong and Mainland China during the year 2023[71] - The Group's management team is experienced and stable, contributing to high customer satisfaction and maintaining a good market reputation[70] - The Group's management is focused on enhancing long-term values and interests for shareholders and stakeholders through sustainable growth in financial and ESG performance[127] - The Board comprises six Directors, including two executive Directors and three independent non-executive Directors, ensuring a balanced composition for effective independent judgment[132] - The Company has complied with all mandatory disclosure requirements and applicable code provisions as per the Corporate Governance Code for the Year 2023[118] Board and Committees - The Company has established three committees: Audit, Remuneration, and Nomination, primarily composed of independent non-executive Directors[167] - The Audit Committee consists of two independent non-executive Directors and one non-executive Director, meeting normally two times a year to review financial and internal control aspects[171] - The Nomination Committee reviews the contributions of retiring Directors, including attendance and performance, before making recommendations for re-election[157] - The Remuneration Committee is responsible for establishing transparent procedures for developing remuneration policies to ensure no Director participates in deciding their own remuneration[193] Employee and Remuneration Policies - As of December 31, 2023, the Group had 229 full-time employees, a decrease from 238 employees in the previous year[75] - Total staff costs for the year 2023 were approximately HK$38.4 million, down from approximately HK$40.6 million in 2022[75] - The Group has adopted a share option scheme as an incentive for Directors and employees[75] - The remuneration policy is periodically reviewed to attract and retain high-caliber staff, aligning with market conditions and performance[75] Future Plans and Investments - There were no significant investments, acquisitions, or disposals during the fiscal year 2023[54] - The Group has minimal exposure to foreign currency risk, as most transactions are conducted in the functional currencies of the relevant group entities[62] - The Group had a capital commitment of HK$1,000,000 for investment in a subsidiary at the end of both 2023 and 2022[61] - The Group's unutilized net proceeds are placed with a licensed bank in Hong Kong[83] - The allocation of net proceeds includes HK$37.4 million for the acquisition of a factory in Mainland China and HK$21.2 million for the acquisition of machinery and equipment[81] Management Team - Mr. Wan Man Keung, aged 62, is the executive Director and Chairman of the Board, responsible for overall strategic planning and daily management of the Group's business development and operations[89] - Mr. Leung Ka Wai, aged 55, is the executive Director and CEO, overseeing daily management of the Group's business development and operations[94] - Both Mr. Wan and Mr. Leung have over 30 years of experience in the low-voltage electrical power distribution and control devices industry[89][94] - The Group's management team includes directors of various subsidiaries, enhancing operational oversight and strategic direction[89][94]

Financial Performance - For the fiscal year ending December 31, 2023, the total revenue decreased to HKD 166,784,000 from HKD 219,293,000 in 2022, representing a decline of approximately 24%[2] - Gross profit remained relatively stable at HKD 41,921,000 compared to HKD 41,948,000 in the previous year, showing a slight decrease of 0.06%[2] - The net profit for the year was HKD 6,998,000, down from HKD 8,316,000 in 2022, indicating a decrease of about 15.8%[2] - Basic and diluted earnings per share decreased to HKD 0.39 from HKD 0.46, reflecting a decline of approximately 15.2%[2] - The company reported a pre-tax profit of HKD 7,983,000, down from HKD 8,347,000 in the previous year[21] - The company recorded a net profit of approximately HKD 7.0 million in 2023, down from HKD 8.3 million in 2022, mainly due to reduced revenue[34] - The profit attributable to owners of the company for 2023 was approximately HKD 7.0 million, down from approximately HKD 8.3 million in 2022 due to reduced revenue[45] Revenue Breakdown - Revenue from low-voltage distribution cabinets was HKD 65,349,000, down 31% from HKD 95,295,000 in the previous year[15] - Revenue from motor control centers decreased by 19% to HKD 24,657,000 from HKD 30,499,000[15] - Revenue from external customers in Hong Kong was HKD 146,212,000, a decline of 15% from HKD 172,820,000 in 2022[17] - The company's revenue for 2023 was approximately HKD 166.8 million, a decrease of about 23.9% from HKD 219.3 million in 2022, primarily due to the completion of a major project in Macau[36] Assets and Liabilities - Total assets decreased to HKD 171,999,000 from HKD 205,361,000, a reduction of about 16.2%[3] - Current liabilities significantly decreased to HKD 33,505,000 from HKD 71,480,000, a drop of approximately 53%[3] - The net asset value increased to HKD 167,932,000 from HKD 162,648,000, showing a growth of about 3.5%[4] - The current ratio improved, with working capital at approximately HKD 138.5 million in 2023 compared to approximately HKD 133.9 million in 2022[46] - The asset-liability ratio decreased to approximately 1.6% as of December 31, 2023, from 9.2% in 2022, mainly due to the repayment of short-term loans[46] Cost Management - The cost of sales for 2023 was approximately HKD 124.9 million, down about 29.6% from HKD 177.3 million in 2022, attributed to enhanced cost control measures[38] - The overall gross profit margin improved to approximately 25.1% in 2023 from 19.1% in 2022, reflecting effective cost management strategies[39] - The total employee costs for 2023 were HKD 38,445,000, a decrease from HKD 40,622,000 in 2022[18] - Sales and distribution expenses reduced by approximately HKD 2.5 million, or about 30.5%, from approximately HKD 8.2 million in 2022 to about HKD 5.7 million in 2023, consistent with the decline in sales[41] - Administrative and other expenses increased by approximately HKD 1.7 million, or about 5.9%, from approximately HKD 28.9 million in 2022 to about HKD 30.6 million in 2023, mainly due to increased testing fees and depreciation[42] - Financing costs decreased from approximately HKD 0.6 million in 2022 to about HKD 0.3 million in 2023, attributed to the repayment of short-term loans[43] Foreign Exchange Impact - The company reported a foreign exchange loss of HKD 1,714,000 from overseas operations, compared to a loss of HKD 5,955,000 in the previous year, indicating an improvement in currency impact[2] - The company recorded a foreign exchange gain of HKD 545,000, down from HKD 2,855,000 in 2022[17] Strategic Focus - The company plans to continue focusing on the development of low-voltage distribution and power control devices, aiming for market expansion in the coming year[6] - The company has diversified its sales network and expanded its customer base to achieve sustainable business growth[34] - The company has implemented strict cost control strategies to turn losses into profits during the fiscal year[34] Employee and Shareholder Information - The company has 229 full-time employees as of December 31, 2023, down from 238 a year earlier, with the majority being factory workers in mainland China[58] - The company did not declare any dividends for 2023, consistent with 2022[23] - The company has not paid or proposed any dividends to ordinary shareholders for the fiscal year 2023, consistent with the previous year[69] Compliance and Reporting - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the current year[8] - The audit committee, consisting of two independent non-executive directors and one non-executive director, reviewed the financial reporting processes and internal controls[71] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website[73] - The annual report will be available for shareholders at an appropriate time[73] Other Information - There were no significant investments, acquisitions, or disposals during the 2023 fiscal year[48] - There have been no significant events occurring after December 31, 2023, up to the date of this announcement[64]