Financial Performance - The company recorded a net profit of approximately HKD 537,000 for the six months ended June 30, 2023, compared to a net loss of approximately HKD 4.8 million for the same period in 2022, marking a significant turnaround [5]. - Revenue decreased by approximately HKD 5.8 million or 6.4% to about HKD 85.8 million for the six months ended June 30, 2023, down from approximately HKD 91.6 million for the same period in 2022, primarily due to the completion of a comprehensive hospital project in Macau [6]. - Gross profit increased to approximately HKD 15.5 million for the six months ended June 30, 2023, up from approximately HKD 12.7 million for the same period in 2022, with the overall gross profit margin rising from about 13.9% to approximately 18.0% [8]. - The company reported a profit before tax of HKD 690,000, compared to a loss of HKD 3,949,000 in the same period last year [54]. - The net profit for the six months ended June 30, 2023, was HKD 537,000, a significant recovery from a loss of HKD 4,822,000 in the same period of 2022 [82]. - Basic and diluted earnings per share for the period were HKD 0.03, compared to a loss per share of HKD 0.27 in the previous year [54]. Revenue and Expenses - Revenue for the six months ended June 30, 2023, was HKD 85,753,000, a decrease of 6.4% compared to HKD 91,605,000 for the same period in 2022 [54]. - Selling and distribution expenses decreased by approximately 32.6% to about HKD 2.9 million for the six months ended June 30, 2023, down from approximately HKD 4.3 million for the same period in 2022 [11]. - Administrative and other expenses increased by approximately HKD 0.8 million or 6.1% to about HKD 13.4 million for the six months ended June 30, 2023, primarily due to increased employee salary payments in Hong Kong [12]. - The total employee cost for the six months ended June 30, 2023, was approximately HKD 18.0 million, a decrease from HKD 19.5 million for the same period in 2022 [30]. Assets and Liabilities - Total assets decreased to HKD 179,435,000 from HKD 205,361,000 as of December 31, 2022 [56]. - Current liabilities decreased to HKD 44,993,000 from HKD 71,480,000, indicating improved liquidity [56]. - The total accounts receivable as of June 30, 2023, was HKD 65,774,000, down 17.3% from HKD 79,572,000 as of December 31, 2022 [90]. - The accounts payable decreased to HKD 29,099,000 as of June 30, 2023, from HKD 40,750,000 as of December 31, 2022, a reduction of 28.5% [93]. Cash Flow - The net cash used in operating activities for the six months ended June 30, 2023, was HKD (3,562,000), an improvement from HKD (8,457,000) in the same period of 2022 [60]. - The company reported a net cash used in financing activities of HKD (10,448,000) compared to a net cash generated of HKD 9,474,000 in the same period of 2022 [60]. - Cash and cash equivalents decreased by HKD 13,767,000, resulting in a closing balance of HKD 56,583,000 as of June 30, 2023 [60]. Corporate Governance and Outlook - The company maintains a cautious optimism regarding its business outlook for the coming year, focusing on improving product variety and quality, effective cost control, and expanding its own brand product offerings [5]. - The company confirmed compliance with the corporate governance code throughout the reporting period [38]. - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2023, similar to the previous year [29]. Share Capital and Ownership - Unique Best holds 990,000,000 shares, representing 55% of the issued share capital [45]. - As of June 30, 2023, the company had 1,800,000 shares issued and fully paid, maintaining the same number as December 31, 2022, with a total capital of 18,000 thousand HKD [95]. - There are no unexercised options under the share option scheme adopted on April 23, 2018 [49]. Other Information - The company incurred external processing labor costs of 637 thousand HKD for the first half of 2023, with no such costs reported in the same period of 2022 [97]. - Related party transactions for the six months ended June 30, 2023, included sales of goods amounting to 146 thousand HKD, a significant decrease of 89% from 1,318 thousand HKD in the same period of 2022 [97]. - The company has not reported any significant impact from the application of new accounting standards during the period [67]. - There were no significant events occurring after June 30, 2023, up to the report date [102].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 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） ：1750 （股份代號 ） 截至二零二三年六月三十日止六個月之 中期業績 全達電器集團（控股）有限公司（「本公司」）董事（「董事」）會（「董事會」）謹公佈本公司 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 綜合中期業績，連同二零二二年同期六個月的比較數字如下： 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 二零二三年 二零二二年 附註 千港元 千港元 （未經審核） （未經審核） 3 85,753 91,605 收益 (70,285) (78,857) 銷售成本 ...

Financial Performance - The group's revenue increased by approximately HKD 88.7 million, or about 67.9%, from approximately HKD 130.6 million in the previous year to approximately HKD 219.3 million in the current year[5]. - The group recorded a net profit of approximately HKD 8.3 million, compared to a net loss of approximately HKD 20.2 million in the previous year[5]. - The gross profit increased from approximately HKD 11.4 million to approximately HKD 41.9 million, with the overall gross margin rising from about 8.7% to approximately 19.1%[13]. - The cost of sales for the current year was approximately HKD 177.3 million, an increase of about 48.7% from approximately HKD 119.2 million in the previous year[12]. - Other income and gains increased from a net loss of approximately HKD 0.4 million to a net gain of approximately HKD 4.1 million, primarily due to foreign exchange gains and bank interest income[14]. Sales and Market Performance - Sales in Hong Kong, Macau, and mainland China accounted for approximately HKD 172.8 million, HKD 33.5 million, and HKD 12.9 million respectively in the current year[8]. - In 2022, the total carbon dioxide emissions from direct combustion (Scope 1) were 19.43 tons, a decrease from 33.19 tons in 2021[194]. - The energy indirect emissions (Scope 2) from purchased electricity increased to 676.64 tons in 2022 from 608.98 tons in 2021[194]. - In the fiscal year 2022, the top five customers accounted for approximately 66% of the total revenue, with the largest customer contributing about 36%[135]. Expenses and Costs - Selling and distribution expenses rose by approximately 38.3% to about HKD 8.2 million, mainly due to increased transportation costs[15]. - Administrative and other expenses increased by approximately 16.8% to about HKD 28.9 million, primarily due to higher employee costs[16]. - Financing costs increased from approximately HKD 0.2 million to about HKD 0.6 million, mainly due to interest expenses on other loans[18]. Cash Flow and Working Capital - As of December 31, 2022, the company's cash and bank balances were approximately HKD 71.1 million, a slight decrease from HKD 71.8 million on December 31, 2021, primarily due to an increase in trade receivables and other receivables by approximately HKD 21.5 million[21]. - The company's operating working capital as of December 31, 2022, was approximately HKD 133.9 million, up from approximately HKD 119.3 million in 2021[21]. - The debt-to-equity ratio increased to approximately 9.2% as of December 31, 2022, compared to 4.7% in 2021, mainly due to the raising of more short-term borrowings during the year[21]. Corporate Governance - The company is committed to maintaining good corporate governance practices and has complied with all provisions of the Corporate Governance Code during the fiscal year 2022[59]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[66]. - The company has established an audit committee to provide strategic advice on internal controls and corporate governance[50]. - The board is responsible for the overall management of the company, including strategy formulation and performance evaluation[66]. - The company has adopted a share option scheme to incentivize directors and employees[36]. Risk Management - The company has implemented a risk management system to mitigate operational risks, with a focus on macro and microeconomic conditions[32]. - The board has confirmed that the risk management and internal control systems are implemented and effective[112]. - The group has engaged an external independent consultant to review the effectiveness of its risk management and internal control systems for the year 2022[112]. Environmental, Social, and Governance (ESG) - The company is increasingly aware of its environmental, social, and governance responsibilities, supporting a transition to a low-carbon and sustainable future[65]. - The board is responsible for overseeing ESG matters and regularly reviews performance, risks, and opportunities related to sustainability[181]. - The group identified 18 key issues related to environmental, social, and governance (ESG) concerns, with approximately 44% related to environmental issues, 33% to employment and labor practices, and 23% to operational practices[186]. - The group reported no significant violations of environmental laws that would have a major impact during the reporting year[191]. Employee and Management - The total employee cost amounted to approximately HKD 40.6 million, an increase from HKD 34.5 million in the previous year[36]. - The company had 238 full-time employees as of December 31, 2022, compared to 221 employees a year earlier[36]. - The management team has extensive experience, with the general manager having over 21 years in the electromechanical engineering industry[56]. Shareholder Information - The company has a dividend policy in place, allowing for the declaration and distribution of dividends to shareholders, while retaining sufficient reserves for future development[169]. - The company has maintained compliance with the minimum public float requirements as per listing rules throughout the reporting period[173]. - The company did not engage in any purchases, redemptions, or sales of its listed securities during the fiscal year 2022[131].

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） ：1750 （股份代號 ） 截至二零二二年十二月三十一日止年度之 全年業績公告 全達電器集團（控股）有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公 司及其附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度（「二零二二 年度」）的經審核綜合業績連同截至二零二一年十二月三十一日止年度（「二零二一年 度」）的比較數字，如下所示： 綜合損益及其他全面收益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 4 219,293 130,636 收益 (177,345) (119,229) 銷售成本 41,948 11,407 毛利 5 4,101 (445) 其他收入、收益及虧損淨額 ...

Financial Performance - The company's revenue increased by approximately HKD 38.1 million, or about 71.2%, to HKD 91.6 million for the six months ended June 30, 2022, compared to HKD 53.5 million for the same period in 2021[5] - Gross profit for the six months ended June 30, 2022, was approximately HKD 12.7 million, with a gross margin of about 13.9%, down from 15.5% in the same period of 2021[9] - The net loss for the period was approximately HKD 4.8 million, compared to a net loss of about HKD 5.1 million for the same period in 2021, indicating a relatively stable performance[17] - Revenue for the six months ended June 30, 2022, was HKD 91,605,000, representing an increase of 71.2% compared to HKD 53,499,000 for the same period in 2021[55] - Gross profit for the same period was HKD 12,748,000, up 53.5% from HKD 8,319,000 year-on-year[55] - The company reported a loss before tax of HKD 3,949,000, an improvement from a loss of HKD 5,238,000 in the previous year[55] - The total comprehensive income for the period was a loss of HKD 6,997,000, which includes a loss of HKD 4,822,000 and other comprehensive expenses of HKD 2,175,000[59] - The company reported a net loss of HKD 4,822,000 for the six months ended June 30, 2022, compared to a loss of HKD 5,107,000 in the same period of 2021[80] Costs and Expenses - The cost of sales rose by approximately 74.5% to about HKD 78.9 million for the six months ended June 30, 2022, from about HKD 45.2 million in the previous year[8] - The total employee cost for the six months ended June 30, 2022, was approximately HKD 19.5 million, an increase from HKD 13.3 million for the same period in 2021[32] - The company's financing costs rose from approximately HKD 61,000 to about HKD 236,000, primarily due to interest expenses on additional short-term borrowings[15] - The company incurred financing costs of HKD 236,000 for the six months ended June 30, 2022, compared to HKD 61,000 in 2021, primarily due to short-term loan interest expenses[76] Assets and Liabilities - As of June 30, 2022, the company's cash and cash equivalents were approximately HKD 75.5 million, slightly down from HKD 76.3 million at the end of 2021[19] - The company's total equity attributable to owners was approximately HKD 153.3 million as of June 30, 2022, compared to HKD 160.3 million at the end of 2021[19] - The asset-to-liability ratio increased to about 10.8% as of June 30, 2022, from 4.7% at the end of 2021, mainly due to additional short-term borrowings[19] - Total assets as of June 30, 2022, were HKD 200,517,000, an increase from HKD 185,971,000 at the end of 2021[57] - Current liabilities increased to HKD 77,111,000 from HKD 66,650,000 at the end of 2021[57] - The company's net asset value decreased to HKD 153,290,000 from HKD 160,287,000 year-on-year[57] - Trade payables increased to HKD 40,949,000 as of June 30, 2022, compared to HKD 39,261,000 as of December 31, 2021, reflecting a growth of 4.3%[89] - Short-term borrowings rose significantly to HKD 16,517,000 from HKD 7,590,000, marking an increase of 117.5%[89] Cash Flow - For the six months ended June 30, 2022, the company reported a net cash outflow from operating activities of HKD 8,457,000, compared to HKD 2,402,000 for the same period in 2021[61] - The company reported a net cash outflow from investing activities of HKD 438,000 for the six months ended June 30, 2022, compared to a cash inflow of HKD 631,000 in the previous year[61] - The company’s financing activities generated a net cash inflow of HKD 9,474,000 for the six months ended June 30, 2022, compared to a net cash outflow of HKD 585,000 in the same period last year[61] Revenue Breakdown - Revenue from low-voltage distribution cabinets increased to HKD 27,169,000, up 53.2% from HKD 17,753,000 in the previous year[71] - Revenue from motor control centers rose to HKD 15,245,000, representing a 32.5% increase from HKD 11,550,000 in the same period last year[71] - The company’s revenue from motor on-site control panels increased significantly to HKD 36,349,000, up 118.5% from HKD 16,606,000 in the prior year[71] - Revenue from Hong Kong reached HKD 68,803,000, up 42.5% from HKD 48,242,000 in 2021, while revenue from Macau surged to HKD 21,025,000 from HKD 2,325,000[73] Shareholding and Governance - As of June 30, 2022, the total shares held by Mr. Leung Ka Wai and Mr. Yuen Man Keung in the company and its associated entities amount to 1,350,000,000 shares, representing 75% of the issued share capital[40] - Unique Best Limited, WANs Limited, REM Enterprises, and WAN Union collectively hold 1,350,000,000 shares, each accounting for 75% of the issued share capital[46] - The board of WAN Union is composed solely of Mr. Yuen Man Keung and his family members, indicating a concentrated control structure[44] - The significant shareholding by the directors and their related entities suggests a strong alignment of interests between management and shareholders[40] - The company’s governance structure reflects a family-controlled entity, which may influence strategic decision-making and market positioning[42] Compliance and Corporate Governance - The company has complied with all applicable corporate governance codes during the reporting period[39] - The company maintains compliance with the Securities and Futures Ordinance regarding the disclosure of interests and short positions[41] - The company has confirmed that there are no other significant interests or short positions held by directors or key executives as of June 30, 2022[45] Future Plans and Commitments - The company plans to enhance cost control measures and expand supply chain operations to mitigate business risks and improve competitiveness[5] - The group has a capital commitment of HKD 1,000,000 for investments in subsidiaries as of June 30, 2022[28] - The board has decided to reallocate unutilized listing proceeds for maintenance and renovation of the Dongguan factory due to ongoing impacts from the COVID-19 pandemic[34] Other Information - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[79] - There were no purchases, sales, or redemptions of the company's listed securities during the six months ended June 30, 2022[37] - The company has no significant events occurring after June 30, 2022, up to the report date[95] - The company has no unexercised share options under the share option scheme adopted in April 2018[50] - There were no changes in the information of directors and key executives during the six months ended June 30, 2022[52]

Financial Performance - The group's revenue increased from approximately HKD 116.5 million in the previous year to approximately HKD 130.6 million, representing a growth of about 12.2%[11]. - The net loss for the year was approximately HKD 20.2 million, a reduction of about 35.8% compared to the net loss of approximately HKD 31.4 million in the previous year[9]. - Sales costs for the year were approximately HKD 119.2 million, an increase of about 4.2% from approximately HKD 114.4 million in the previous year[13]. - The gross profit increased from approximately HKD 2.1 million to approximately HKD 11.4 million, with the overall gross margin rising from about 1.8% to approximately 8.7%[14]. - The group's other income, gains, and losses decreased from a net gain of approximately HKD 0.4 million in 2020 to a net loss of approximately HKD 0.4 million in 2021, primarily due to a decrease in bank interest income of about HKD 0.2 million and an increase in foreign exchange losses of about HKD 0.4 million[15]. - Sales and distribution expenses decreased by approximately HKD 1.7 million, or about 22.3%, from approximately HKD 7.6 million in 2020 to approximately HKD 5.9 million in 2021, mainly due to strict cost control measures leading to a reduction in transportation expenses of about HKD 1.8 million[16]. - Administrative and other expenses decreased by approximately HKD 4.9 million, or about 16.4%, from approximately HKD 29.6 million in 2020 to approximately HKD 24.7 million in 2021, primarily due to the absence of bad debt expenses in 2021 (approximately HKD 1.1 million in 2020) and a reduction in professional fees of about HKD 0.8 million[17]. - The group's financing costs increased from approximately HKD 0.1 million in 2020 to approximately HKD 0.2 million in 2021, mainly due to interest expenses from lease liabilities and other loans[19]. - The group recorded an income tax expense of approximately HKD 0.2 million in 2021, compared to an income tax credit of approximately HKD 3.4 million in 2020, primarily due to the reversal of excess provisions for tax liabilities from prior years[20]. - The loss attributable to the company's owners for the year was approximately HKD 20.2 million, compared to a net loss of approximately HKD 31.4 million in 2020[21]. - As of December 31, 2021, the group's bank balances and cash amounted to approximately HKD 71.8 million, a decrease from approximately HKD 80.3 million as of December 31, 2020, primarily due to net losses incurred during the year[22]. Operational Strategies - The company suspended its production line in Humen in late November 2021 to better utilize existing capacity and improve production efficiency[6]. - The company is actively implementing cost control strategies to mitigate operational risks and improve financial stability[6]. - The management remains optimistic about the existing business despite market uncertainties and the ongoing pandemic[6]. - The company plans to closely monitor operations at its existing factory in Dongguan to optimize capacity utilization[6]. - The macroeconomic environment remains unpredictable due to the ongoing COVID-19 pandemic, impacting the company's outlook for the upcoming year[10]. Employee and Management Information - The company has a total of 221 full-time employees as of December 31, 2021, down from 238 in the previous year, with 44 based in Hong Kong and 177 in China[36]. - Total employee costs for the year amounted to approximately HKD 34.5 million, an increase from HKD 30.4 million in the previous year[36]. - The management team is experienced and maintains a good relationship with employees, ensuring regular reviews of compensation policies to attract and retain talent[36]. - The company appointed Mr. Huang Wenwei as General Manager on February 1, 2022, who has over 21 years of experience in the electromechanical engineering industry[60]. - The company reported a significant management change with the resignation of Ms. Zhou Zhiling as Chief Financial Officer and Company Secretary on February 28, 2021[56]. Corporate Governance - The company has a commitment to corporate governance, as evidenced by the roles of independent non-executive directors like Mr. Zheng Senxing and Ms. Wu Jingying in providing independent judgment[53][54]. - The company has adopted the corporate governance code as per the listing rules and believes it has complied with all provisions during the fiscal year[64]. - The independent non-executive directors account for more than one-third of the board, ensuring compliance with independence guidelines[73]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[68]. - The company emphasizes the importance of transparency and accountability in its corporate governance practices[64]. - The board is responsible for overall management, strategy formulation, and performance evaluation of the group[68]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, primarily composed of independent non-executive directors[81]. - The Audit Committee is responsible for reviewing the internal control systems and risk management procedures, ensuring the integrity of financial reporting[82]. - The Remuneration Committee aims to ensure transparency in the remuneration policies and structures for executive directors and senior management, with annual reviews planned[91]. - The Nomination Committee evaluates the board's composition and diversity, considering various factors such as gender, age, and professional qualifications[86]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a framework for environmental, social, and governance (ESG) risk management and reporting[110]. - The environmental, social, and governance (ESG) report highlights the company's commitment to sustainable development and corporate social responsibility initiatives[174]. - Approximately 44% of the identified key issues in the stakeholder engagement process are related to environmental concerns, 33% to employment and labor practices, and 23% to operational practices[181]. - The company is committed to regularly reviewing and updating its environmental, social, and governance strategies to mitigate potential risks[175]. - In 2021, the company reported a reduction in nitrogen oxide emissions from vehicles to 31.03 kg, up from 29.22 kg in 2020, while sulfur oxide emissions increased slightly to 0.19 kg from 0.16 kg[191]. - The total carbon dioxide emissions from direct combustion (Scope 1) increased to 33.19 tons in 2021 from 27.00 tons in 2020, while energy indirect emissions (Scope 2) decreased to 608.98 tons from 806.05 tons[191]. - The company generated 197.99 tons of waste materials in 2021, an increase from 179.84 tons in 2020, while non-hazardous waste from production was recorded at 1.06 tons, up from 0.60 tons[197]. - The company aims to reduce waste per unit to below 35 tons in the next fiscal year and plans to implement measures to avoid over-ordering[197]. - Energy consumption in the factory increased to 944,234.40 kWh in 2021 from 925,060.80 kWh in 2020, while office and workshop energy consumption rose to 46,459.00 kWh from 44,767.00 kWh[200]. - Water consumption in the factory decreased to 17,627.20 cubic meters in 2021 from 20,703.80 cubic meters in 2020, while office and workshop water consumption dropped significantly to 22.00 cubic meters from 51.00 cubic meters[200]. Shareholding and Financial Structure - As of December 31, 2021, Mr. Liang Jiawei and Mr. Yin Minqiang each hold 1,350,000,000 shares, representing 75% of the issued share capital[145]. - The beneficial ownership structure of Unique Best Limited shows that it is owned 85.14% by WANs Limited, 13.33% by REM Enterprises, and 1.53% by REM Limited[149]. - The shareholding structure indicates that the major shareholders are closely linked, with significant ownership concentrated among a few entities[151]. - The board of directors does not recommend the payment of a final dividend for the year 2021, consistent with the previous year[122]. - The company has adopted a dividend policy allowing for the declaration and distribution of dividends to shareholders, retaining sufficient reserves for future development[164]. - The group has maintained compliance with all applicable laws and regulations in Hong Kong and China, obtaining necessary registrations and certifications[165].

Financial Performance - The group recorded a net loss of approximately HKD 5.1 million for the six months ended June 30, 2021, an improvement from a net loss of approximately HKD 15.9 million for the same period in 2020, reflecting a recovery in production processes due to the control of COVID-19[5]. - Revenue increased significantly by approximately HKD 21.6 million or 67.8%, from approximately HKD 31.9 million for the six months ended June 30, 2020, to approximately HKD 53.5 million for the same period in 2021, attributed to the resumption of factory operations post-lockdown[7]. - Gross profit improved to approximately HKD 8.3 million for the six months ended June 30, 2021, compared to a gross loss of approximately HKD 2.4 million for the same period in 2020, resulting in a gross margin increase from a negative 7.5% to approximately 15.6%[10]. - The net loss attributable to the company's owners for the period was approximately HKD 5.1 million, compared to a net loss of approximately HKD 15.9 million for the same period in 2020[18]. - The company reported a total comprehensive loss of HKD 4,613,000 for the period, compared to a total comprehensive loss of HKD 17,610,000 in 2020[60]. - The net loss for the period was HKD 5,107,000, an improvement from a net loss of HKD 15,940,000 in the previous year, representing a reduction of 68.0%[57]. Revenue Breakdown - Revenue for the six months ended June 30, 2021, was HKD 53,499,000, an increase of 67.6% compared to HKD 31,885,000 in 2020[57]. - Revenue from low-voltage distribution cabinets was HKD 17,753,000, a slight decrease of 0.8% from HKD 17,903,000 in 2020[72]. - Revenue from motor control centers increased significantly to HKD 11,550,000, up 366.5% from HKD 2,474,000 in 2020[72]. - Revenue from external customers in Hong Kong was HKD 48,242,000, representing an increase of 85.5% from HKD 25,962,000 in 2020[74]. Cost and Expenses - Sales costs rose by approximately 31.8% to about HKD 45.2 million for the six months ended June 30, 2021, compared to approximately HKD 34.3 million for the same period in 2020, with raw material and employee costs accounting for approximately 73.9% and 16.6% of total sales costs, respectively[9]. - Other income decreased by approximately 80.5% to about HKD 56,000 for the six months ended June 30, 2021, primarily due to a reduction in government subsidies received[11]. - Selling and distribution expenses decreased by approximately 27.6% to about HKD 2.6 million for the six months ended June 30, 2021, from approximately HKD 3.6 million for the same period in 2020, due to cost-saving measures implemented[12]. - Administrative and other expenses decreased by approximately 5.2% to about HKD 10.4 million for the six months ended June 30, 2021, compared to approximately HKD 11.0 million for the same period in 2020, mainly due to reduced hospitality and travel expenses[14]. - The company incurred depreciation expenses of HKD 1,851,000 for property, plant, and equipment, slightly higher than HKD 1,803,000 in 2020[79]. Cash Flow and Capital Structure - As of June 30, 2021, the group's cash and cash equivalents were approximately HKD 78.0 million, down from approximately HKD 80.3 million as of December 31, 2020[20]. - The group's working capital as of June 30, 2021, was approximately HKD 131.8 million, compared to approximately HKD 136.5 million as of December 31, 2020[20]. - The total employee costs for the six months ended June 30, 2021, amounted to approximately HKD 13.3 million, an increase from approximately HKD 12.5 million for the same period in 2020[31]. - The company has no significant investments or acquisitions during the six months ended June 30, 2021[23]. - The unutilized net proceeds amount to approximately HKD 62.2 million, which is currently held in licensed banks in Hong Kong[37]. - The company does not recommend the payment of an interim dividend for the six months ended June 30, 2021[30]. - The company has no major capital commitments as of June 30, 2021[27]. Shareholding and Corporate Governance - As of June 30, 2021, Mr. Liang Jiawei and Mr. Yin Minqiang each hold 1,350,000,000 shares, representing approximately 75% of the issued share capital[42]. - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance throughout the six-month period ending June 30, 2021[40]. - The company has maintained high standards of corporate governance, adhering to all applicable provisions of the corporate governance code during the same period[41]. - The shareholding structure indicates a strong concentration of ownership among a few key stakeholders[48]. - The company has not disclosed any interests in competing businesses by its directors or their associates[51]. Challenges and Future Plans - The group is facing challenges such as supply chain disruptions and material shortages, prompting the implementation of cost-saving measures and close collaboration with suppliers to stabilize material supply[5]. - The group aims to continue addressing current and future challenges with a cautious and pragmatic approach to business operations[6]. - The company plans to fully utilize the listing proceeds for acquiring a new factory within one year after the impact of COVID-19 on operations is expected to diminish, estimated by June 30, 2022[38]. - The acquisition of the new factory has been postponed, affecting the progress of purchasing additional machinery and equipment, which will occur after the new factory is acquired and renovated[38]. - The company anticipates that the plan to purchase machinery and equipment for the Dongguan factory will resume in the second half of 2021, with purchases made in stages to minimize production impact[38]. Audit and Compliance - The audit committee has reviewed the unaudited consolidated interim results for the six months ended June 30, 2021, and confirmed the accounting principles adopted by the company[55]. - The company has established an audit committee to oversee financial reporting, risk management, and internal control systems[55]. - There were no changes in the information of directors and key executives during the six months ended June 30, 2021[54]. - No significant events occurred after the reporting period up to the date of this report[96].

Financial Performance - The group's revenue decreased from approximately HKD 211.7 million in 2019 to about HKD 116.5 million in 2020, a decline of approximately 45.0%[7]. - The group recorded a net loss of approximately HKD 31.4 million in 2020, compared to a net profit of HKD 11.5 million in 2019[7]. - The gross profit fell from approximately HKD 54.5 million in 2019 to about HKD 2.1 million in 2020, representing a decline of approximately 96.2%, with the overall gross margin dropping from about 25.7% to 1.8%[18]. - The sales cost for 2020 was approximately HKD 114.4 million, a reduction of about 27.3% from approximately HKD 157.2 million in 2019, primarily due to decreased revenue[16]. - The average accounts receivable turnover days increased to approximately 184.6 days in 2020 from about 120.1 days in 2019, mainly due to higher outstanding balances at year-end[27]. - The group reported that the reserves available for distribution to shareholders as of December 31, 2020, were approximately HKD 129.7 million, down from HKD 133.7 million as of December 31, 2019[129]. - The top five customers accounted for approximately 60.7% of the total revenue, with the largest customer contributing about 20.6%[131]. - The largest supplier and the top five suppliers accounted for approximately 28.2% and 65.8% of the total procurement, respectively[132]. Operational Challenges - The group anticipates that 2021 will be a challenging year due to ongoing uncertainties from the COVID-19 pandemic and increased competition in construction projects[8]. - The impact of COVID-19 led to significant delays in project deliveries, but there were no cancellations of orders due to the pandemic[11]. - The group faced operational disruptions due to travel restrictions affecting staff movement between Hong Kong and mainland China[11]. - Despite the challenges, the group remains confident in leveraging long-term relationships with clients and the expertise of its management team to drive growth[8]. Cost Management - The group has implemented strict cost control measures and more flexible production plans to mitigate business risks[8]. - The group expects the gross margin level to be lower than in previous years due to intensified competition and a more competitive pricing strategy adopted since 2020[12]. - The sales and distribution expenses decreased by approximately 25.9% to about HKD 7.6 million in 2020 from approximately HKD 10.3 million in 2019, mainly due to reduced transportation costs[20]. - The administrative and other expenses increased by approximately 1.2% to about HKD 29.6 million in 2020 from approximately HKD 29.3 million in 2019[21]. - The total employee cost for 2020 was approximately 30.4 million HKD, a decrease from 33.7 million HKD in 2019, reflecting a reduction of about 9.8%[41]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and believes it has complied with all provisions during the fiscal year 2020[66]. - The company is committed to maintaining good corporate governance practices to ensure effective management and business growth[66]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[70]. - The independent non-executive directors account for more than one-third of the board, ensuring compliance with listing rules regarding independence[75]. - The company has a dedicated company secretary with over 13 years of experience in auditing, accounting, and corporate governance[64]. - The board is responsible for the overall management of the company, including strategy formulation and performance evaluation[70]. Risk Management - The company has implemented a risk management system led by senior management to mitigate operational risks[37]. - The audit committee is tasked with reviewing the financial statements' accuracy and fairness, and it meets with external auditors twice a year[83]. - The board concluded that the group's risk management and internal control systems are implemented and effective[120]. - The company engaged an external independent consultant to review the effectiveness of its risk management and internal control systems in 2020[112]. Environmental Responsibility - The company aims to replace gasoline and diesel vehicles with electric vehicles by 2030 to reduce vehicle emissions and greenhouse gas emissions[183]. - The total carbon dioxide emissions from direct combustion in 2020 were 27.00 tons, a decrease from 38.50 tons in 2019[186]. - The company reported nitrogen oxides emissions of 61,023.60 kg and sulfur oxides emissions of 303.6 kg, maintaining the same level as the previous year[186]. - The company has established procedures for handling various types of waste, including waste powder, waste materials, and wastewater, to comply with environmental regulations[188]. - The company has not reported any significant violations of environmental laws and regulations that would have a major impact in 2020[182]. Employee Management - The total number of employees decreased to 238 in 2020, a reduction of approximately 7% compared to 255 in 2019, with an overall turnover rate of about 26%[196]. - The turnover rate for male employees was 20.42% in 2020, while for female employees it was significantly higher at 37.50%[200]. - The group maintains a stable gender ratio of approximately 1:5 for Hong Kong and China employees, and 1:2 for female to male employees[197]. - The group emphasizes a fair and safe working environment, with a comprehensive recruitment and promotion policy to attract and retain talent[195].

Financial Performance - The company's revenue decreased by approximately 71.3% from about HKD 110.9 million in the six months ended June 30, 2019, to about HKD 31.9 million in the same period of 2020[9]. - The net loss recorded was approximately HKD 15.9 million due to the impact of COVID-19 on operations and project delays[6]. - The overall gross profit margin fell from approximately 25.3% to a negative gross profit margin of about 7.5% due to fixed costs remaining high despite low sales[11]. - The company reported a net loss attributable to owners of approximately HKD 15.9 million for the six months ended June 30, 2020, compared to a net profit of HKD 6.9 million for the same period in 2019[20]. - Revenue for the six months ended June 30, 2020, was HKD 31,885,000, a decrease of 71.2% compared to HKD 110,946,000 for the same period in 2019[58]. - Gross loss for the same period was HKD 2,399,000, compared to a gross profit of HKD 28,029,000 in 2019[58]. - The company reported a loss before tax of HKD 17,650,000, a significant decline from a profit of HKD 10,536,000 in the previous year[58]. - Net loss for the period was HKD 15,940,000, compared to a profit of HKD 6,850,000 in the same period last year[58]. - The company reported a loss of HKD 15,940,000 for the six months ended June 30, 2020, compared to a profit of HKD 6,850,000 for the same period in 2019[81]. Cost Management - Sales costs decreased by about 58.7% to approximately HKD 34.3 million, compared to HKD 82.9 million in the previous year[10]. - Selling and distribution expenses decreased by about 32.6% to approximately HKD 3.6 million, mainly due to a drop in transportation costs[14]. - Administrative and other expenses decreased by about 4.8% to approximately HKD 11.2 million, attributed to reduced spending due to social distancing measures[15]. - The total employee costs for the six months ended June 30, 2020, were approximately HKD 12.5 million, down from approximately HKD 15.1 million for the same period in 2019[32]. Cash Flow and Assets - As of June 30, 2020, the group's cash and cash equivalents were approximately HKD 76.9 million, a slight decrease from approximately HKD 77.7 million as of December 31, 2019[21]. - The company reported a net cash decrease of HKD 512,000 for the period, compared to a net decrease of HKD 11,192,000 in the same period of 2019[63]. - The company's cash and cash equivalents at the end of the period were HKD 76,854,000, down from HKD 79,045,000 at the end of June 2019[63]. - Total assets as of June 30, 2020, were HKD 173,639,000, down from HKD 201,396,000 at the end of 2019[60]. - Current liabilities decreased to HKD 28,312,000 from HKD 42,221,000 at the end of 2019[60]. - The company's net asset value as of June 30, 2020, was HKD 189,026,000, down from HKD 206,636,000 at the end of 2019[60]. Strategic Plans - The company plans to adopt a more competitive pricing strategy to secure new projects and stabilize revenue flow amid ongoing challenges[7]. - The company plans to fully utilize the remaining listing proceeds for acquiring a new factory within one year after the impact of COVID-19 on operations is expected to subside, estimated by December 31, 2021[39]. - The company has delayed the acquisition of a new factory and the purchase of additional machinery and equipment due to the ongoing COVID-19 pandemic[39]. - The company anticipates that the purchase of machinery and equipment for the Dongguan factory will resume once travel restrictions are lifted, with plans to complete all necessary groundwork in the interim[39]. Shareholder Information - As of June 30, 2020, the major shareholders hold 75% of the issued share capital, with Mr. Leung Ka Wai and Mr. Yuen Man Keung each holding 1,350,000,000 shares[43]. - Unique Best Limited holds 1,350,000,000 shares, representing 75% of the issued share capital[49]. - WANs Limited also holds 1,350,000,000 shares, accounting for 75% of the issued share capital[49]. - REM Enterprises possesses 1,350,000,000 shares, which is 75% of the issued share capital[49]. - WAN Union has a stake of 1,350,000,000 shares, equivalent to 75% of the issued share capital[49]. - The board members have no knowledge of any other individuals holding interests in shares or related securities as of June 30, 2020[51]. Governance and Compliance - The board believes that good corporate governance is essential for maintaining the company's success and has adhered to all applicable corporate governance code provisions during the reporting period[42]. - The company has established an audit committee to oversee financial reporting and risk management processes[56]. - The company has confirmed that there are no interests in any competing businesses by the directors as of June 30, 2020[52]. Impact of COVID-19 - The company has not experienced any order cancellations due to the COVID-19 pandemic, despite delays in product deliveries[6]. - The company reported a significant impact on revenue due to delays in delivering goods to construction sites caused by COVID-19, which affected the conversion of orders into revenue during the reporting period[100]. - The management expects business performance to improve compared to the dismal first half of the year, but still anticipates underperformance compared to the previous year due to ongoing COVID-19 cases and related restrictions[100]. - The company is closely monitoring the development of the COVID-19 pandemic and will assess its impact further, taking measures to control operating costs and maintain stable cash flow[100]. - The company recognized government subsidies related to COVID-19 amounting to HKD 1,205,000 during the reporting period[79].

Financial Performance - The group's revenue for the fiscal year 2019 increased by approximately 13.7%, primarily driven by significant contributions from projects in Kunming and Wuhan, China[6]. - Revenue breakdown for 2019: Hong Kong approximately HKD 118.9 million, Macau approximately HKD 11.6 million, and China approximately HKD 81.2 million, compared to HKD 147.6 million, HKD 19.2 million, and HKD 19.5 million in 2018 respectively[10]. - The group's net profit after tax for 2019 was approximately HKD 11.5 million, a decrease of about 28.1% compared to the previous fiscal year, mainly due to lower gross margins and increased selling and distribution expenses[10]. - The group's revenue increased by approximately 13.7% from about HKD 186.3 million in 2018 to about HKD 211.7 million in 2019, primarily due to significant sales growth to clients in China[14]. - The cost of sales rose by approximately 16.6% to about HKD 157.2 million in 2019, compared to about HKD 134.9 million in 2018, with raw material costs and employee costs accounting for approximately 79.2% and 11.1% of total sales costs, respectively[15]. - Gross profit increased by about 6.1% to approximately HKD 54.5 million in 2019, while the overall gross margin decreased from about 27.6% in 2018 to about 25.7% in 2019[17]. - Other income decreased by approximately 63.4% to about HKD 0.7 million in 2019, primarily due to a net foreign exchange loss of about HKD 0.2 million[18]. - Selling and distribution expenses increased by approximately 38.2% to about HKD 10.3 million in 2019, mainly due to increased transportation costs[19]. - Administrative and other expenses decreased by approximately 2.2% to about HKD 28.5 million in 2019, influenced by a reduction in listing expenses[20]. - The impairment loss on trade receivables and contract assets amounted to approximately HKD 0.6 million in 2019[22]. - Financing costs decreased by approximately 72.8% to about HKD 0.1 million in 2019, due to the repayment of bank loans[23]. - The income tax expense decreased by approximately 26.3% to about HKD 4.1 million in 2019, mainly due to a reduction in taxable profits[24]. - The profit attributable to the company's owners increased by approximately 12.8% to about HKD 11.5 million in 2019[25]. Impact of COVID-19 - The group anticipates significant challenges in 2020 due to the impact of the COVID-19 pandemic, which is expected to delay construction projects in China, Hong Kong, and Macau[7]. - The group's production capacity has been directly affected by the pandemic, with all factories in China closed for over a month since the Lunar New Year holiday[11]. - The group expects revenue from its China division in 2020 to be significantly lower than in 2019 due to the anticipated economic downturn caused by the pandemic[11]. - The group plans to maintain competitiveness in the market despite the adverse economic environment, leveraging its strong relationships with customers and suppliers[7]. Operational Developments - The establishment of a new production line in Dongguan has incurred additional costs, including rent, hiring, and depreciation of new machinery[10]. - The group has prioritized resources to complete urgent projects in China, leading to a decline in revenue from Hong Kong and Macau[10]. - The company has completed the installation and testing of new production lines and busbar management systems for low-voltage distribution cabinets[46]. - The company has rented a temporary factory in Humen Town for HKD 1.5 million during the acquisition period of the new factory[52]. - The company has completed the renovation of the temporary factory and is utilizing it for production[46]. - The company has signed a sales agreement for the purchase of machinery and equipment for the new production line[46]. - The company plans to gradually acquire new parts for machinery and equipment to minimize disruption to production capacity[50]. - The company has completed the layout and configuration of the temporary factory based on consultant recommendations[46]. Management and Governance - The company was founded on August 25, 1992, by Mr. Yin Minqiang and Mr. Liang Jiawei, with Mr. Yin currently serving as the Executive Director and Chairman[55]. - Mr. Liang Jiawei, aged 51, is the Executive Director and CEO, overseeing daily operations and business development, with over 27 years of experience in the low-voltage distribution and control equipment industry[57]. - The company has a strong management team with extensive experience, including independent non-executive directors with backgrounds in engineering and finance, ensuring robust corporate governance[61][63]. - The management team emphasizes internal control and corporate governance, with members actively participating in various committees[60][63]. - The company has established subsidiaries in China, including Dongguan Quanda and Guangzhou Quanda, enhancing its operational footprint in the region[55]. - The management team is committed to strategic planning and business development, focusing on expanding market presence and exploring new opportunities[55][57]. - The company has a diverse board composition, including members with qualifications from recognized institutions, contributing to informed decision-making[61][63]. - The company aims to leverage its extensive industry experience to drive growth and innovation in the low-voltage distribution sector[55][57]. - The management's strategic vision includes enhancing operational efficiency and exploring potential mergers and acquisitions to strengthen market position[55][57]. Corporate Governance Practices - The board has adopted corporate governance practices in compliance with the listing rules, ensuring transparency and accountability[70]. - The company has established a clear division of responsibilities between the chairman and the CEO to maintain effective governance[78]. - The management team has extensive experience in finance and engineering, contributing to the company's strategic direction and operational success[66][68]. - The company has appointed three independent non-executive directors, constituting over one-third of the board[79]. - The audit committee held three meetings in the fiscal year 2019 and reviewed the company's annual performance, confirming compliance with applicable accounting standards[90]. - The nomination committee plans to hold at least one meeting annually to review the composition of the board and assess the independence of independent non-executive directors[91]. - The board is responsible for all significant matters, including policy, strategy, budget, internal controls, and risk management[85]. - The company has established three committees: audit committee, remuneration committee, and nomination committee, primarily composed of independent non-executive directors[86]. - The audit committee's main responsibilities include reviewing the financial and internal control mechanisms and assessing the effectiveness of arrangements for employees to report misconduct[87]. - The company ensures that all independent non-executive directors have received annual written confirmations regarding their independence[79]. - The board plans to meet four times a year, with written notices sent to directors at least 14 days in advance[83]. - The nomination committee considers various factors for board diversity, including gender, age, cultural background, and professional qualifications[91]. - The company’s executive directors have service contracts with a fixed term of three years, subject to rotation as per the company's articles[81]. - The company reviewed its annual audited financial statements for the year 2018 and the unaudited interim financial statements for the six months ending June 30, 2019[92]. - The remuneration committee plans to review the company's remuneration policy and structure at least once a year, ensuring transparency and performance-based compensation[96]. - In 2019, the remuneration committee held one meeting to review the compensation packages of executive directors, non-executive directors, independent non-executive directors, and senior management[98]. - The board consists of six members, including two females, reflecting the company's commitment to diversity[105]. - All directors received online training covering various topics, including the latest developments in corporate governance, during the 2019 fiscal year[108]. - The company confirmed that there are no significant uncertainties regarding events or conditions that may cast doubt on its ability to continue as a going concern[109]. - The independent auditor's report on the consolidated financial statements is included in the report, ensuring compliance with auditing standards[110]. - The total fees paid or payable to Deloitte amounted to HKD 1,620,000, with audit services costing HKD 1,300,000 and non-audit services costing HKD 320,000[111]. Shareholder Information - As of December 31, 2019, the company's distributable reserves were approximately HKD 133.7 million, a decrease from HKD 138.8 million as of December 31, 2018[132]. - The top five customers accounted for approximately 69.4% of the total revenue, with the largest customer contributing about 39.4%[134]. - The largest supplier and the top five suppliers represented approximately 18.8% and 48.4% of the total procurement, respectively[135]. - The company has received annual independence declarations from all independent non-executive directors, confirming their independence status[136]. - Both Mr. Yin Mingqiang and Mr. Wu Zhiqiang will retire at the upcoming annual general meeting but are eligible and willing to be re-elected[137]. - The remuneration of directors is determined by the remuneration committee, taking into account the group's operating performance, individual performance, and comparable market data[142]. - As of December 31, 2019, Mr. Liang Jiawei and Mr. Yin Mingqiang each hold 1,350,000,000 shares, representing 75% of the issued share capital[148]. - The company has made appropriate insurance arrangements for the legal liabilities arising from the performance of duties by directors and senior officers[144]. - There are no significant interests held by directors or their associates in any transactions, arrangements, or contracts with the company or its subsidiaries[139]. - The service contracts for executive directors are fixed for three years and are subject to rotation as per the company's articles[140]. - Non-executive and independent non-executive directors have appointment letters fixed for three years and are also subject to rotation[141]. - The company has no arrangements that would allow directors or their associates to benefit from purchasing shares or debt securities of the company or any other entity[146]. - There are no disclosures of interests in competing businesses by directors or their associates as of the report date[145]. - Unique Best holds a beneficial interest of 1,350,000,000 shares, representing 75% of the issued share capital[154]. - WANs Limited, REM Enterprises, and WAN Union also hold a combined interest of 1,350,000,000 shares, each representing 75% of the issued share capital[154]. - The major shareholders, including Mr. Yin Minqiang and Mr. Yin Zhiwei, are considered to have a collective interest in the shares held by Unique Best[157]. - No related party transactions or continuous related party transactions were reported for the fiscal year 2019[158]. - The company confirmed compliance with non-competition commitments by major shareholders during the fiscal year 2019[160]. - There were no management or administrative contracts established or in effect for any significant part of the company's business during the fiscal year 2019[161]. - The company did not enter into any stock-linked agreements that could lead to the issuance of shares during the fiscal year 2019[162]. - No tax exemptions were reported for shareholders due to shareholding[163]. - The company has adopted a stock option plan allowing for the issuance of options to eligible participants, with a maximum of 180,000,000 shares available, representing 10% of the issued share capital as of the report date[166]. - The exercise price for shares under the stock option plan will not be lower than the higher of the closing price on the date of grant or the average closing price over the five trading days preceding the grant[166]. - The company has a dividend policy in place, allowing for the declaration and distribution of dividends to shareholders, while retaining sufficient reserves for future development[167]. Environmental and Sustainability Efforts - The company is committed to sustainable development and has implemented measures to minimize its environmental impact throughout its production processes[183]. - The company has established a stakeholder engagement policy to understand stakeholder needs and ensure their interests are considered in business activities[177]. - The company has maintained compliance with the minimum public float requirements as per listing rules[172]. - The audit committee has reviewed the accounting principles and practices adopted by the group, discussing audit, internal control, and financial reporting matters[173]. - The company has received an unqualified audit opinion from Deloitte for its consolidated financial statements for the fiscal year[174]. - The company actively seeks feedback from stakeholders to enhance its future business and sustainable development efforts[182]. - In 2019, the company reported nitrogen oxides emissions of 61,023.60 kg and sulfur oxides emissions of 303.60 kg, with vehicle emissions showing a slight decrease in nitrogen oxides from 16.21 kg in 2018 to 14.41 kg in 2019[187]. - The total greenhouse gas emissions increased from 21.29 tons in 2018 to 38.5 tons in 2019, primarily due to the purchase of new vehicles[187]. - The company achieved a 12% reduction in overall energy consumption in 2019, while water consumption increased by approximately 40% due to factory demands[195]. - The total electricity consumption in 2019 was 1,015,730 kWh, down from 1,147,337 kWh in 2018, indicating a significant decrease in energy usage[195]. - The total water consumption in 2019 was 24,562.60 cubic meters, compared to 17,679.00 cubic meters in 2018, reflecting a substantial increase[195]. - The company reduced non-hazardous waste by approximately 5%, with industrial waste recorded at 37.52 tons in 2019, down from 39.32 tons in 2018[192]. - The packaging materials used in 2019 included 30 tons of cardboard boxes and 4,000 sheets of foam packaging, showing a decrease in cardboard usage from 41.20 tons in 2018[196]. - The company has implemented various resource-saving measures to optimize resource utilization and reduce waste during production[193]. - The company has signed agreements with authorized wastewater treatment plants to handle generated wastewater, ensuring compliance with environmental regulations[191]. - The company emphasizes the importance of improving manufacturing processes to minimize resource consumption and environmental impact[197]. Workforce and Human Resources - The group employs over 200 staff for professional and technical work, viewing them as the most important asset[199]. - As of December 31, 2019, the group had 255 employees, including 29 office staff, 73 project and engineering personnel, and 153 workers[200]. - The group increased its workforce by approximately 13% in the fiscal year 2019, with local employees decreasing by about 4% and Chinese employees increasing by approximately 18%[200]. - The ratio of Hong Kong to Chinese employees increased from 1:4 to 1:5 compared to the previous year[200]. - The gender ratio remained stable at approximately 1:2 for female to male employees at the end of 2019[200].