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]

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].