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，概不就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。 MBV INTERNATIONAL LIMITED 中國大人國際有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1957） 截至2024年6月30日止六個月之中期業績公告 | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | 截至 | 2024 年 6 月 30 日止六個月（「 本期間 」）： | | • | 本集團（定義見下文）錄得未經審核收益約 92,700,000 令吉，較截至 2023 年 6 月 30 日止 六個月（「 去年同期 」）的約 95,000,000 令吉減少 ...

Financial Performance - For the fiscal year ended December 31, 2023, the company reported revenue of approximately MYR 211.0 million, an increase of 6.1% from MYR 198.9 million in 2022[10]. - Gross profit for the same period was approximately MYR 62.8 million, reflecting an 18.1% increase from MYR 53.2 million in the previous year, resulting in a gross margin of 29.8% compared to 26.7% in 2022[10][14]. - The company's profit before tax rose to approximately MYR 30.8 million, up from MYR 24.4 million in 2022[10]. - Revenue from printable apparel increased by 2.4% to approximately MYR 172.6 million, driven by improved consumer spending due to economic recovery in Malaysia and Singapore[19]. - Revenue from gift products surged by 26.7% to approximately MYR 38.4 million, attributed to increased consumer spending following the economic reopening[20]. Expenses and Financial Management - Sales and distribution expenses rose by approximately 9.3% to about MYR 10.6 million, consistent with the increase in sales[21]. - Administrative and other operating expenses increased by approximately 0.5 million MYR or 2.3% to about 22.6 million MYR from last year's approximately 22.1 million MYR, primarily due to increases in director remuneration and employee-related expenses[22]. - Income tax expenses rose by approximately 1.0 million MYR or 13.0% to about 8.7 million MYR from last year's approximately 7.7 million MYR, mainly due to an increase in profit before tax[25]. - The company does not recommend any dividend for the fiscal year 2023, maintaining the same stance as in 2022[15]. Cash Flow and Assets - As of December 31, 2023, the group's cash and cash equivalents were approximately 93.2 million MYR, up from approximately 79.2 million MYR as of December 31, 2022, attributed to increased net cash inflow from operating activities[26]. - The group's current assets and current liabilities were approximately 151.9 million MYR and 40.5 million MYR, respectively, as of December 31, 2023, compared to approximately 143.4 million MYR and 7.3 million MYR in the previous year[31]. - The group's interest-bearing borrowings were approximately 5.6 million MYR as of December 31, 2023, down from approximately 6.3 million MYR as of December 31, 2022[31]. - The group's debt-to-equity ratio decreased to approximately 3.3% as of December 31, 2023, from approximately 4.3% the previous year, due to repayment of interest-bearing borrowings and an increase in equity base[33]. Strategic Acquisitions and Market Expansion - The company completed the acquisition of a 40% stake in Lordan Group Ltd., which is expected to enhance retail sales channels and marketing efforts in the Chinese market[13]. - The group acquired 40% of the issued shares of Lordan Group Ltd., which will enhance the group's business scope and provide new revenue sources in the e-commerce sector[27]. - The company plans to adopt the name "China Daren International Limited" to reflect its expansion into the Chinese market[13]. - The company has implemented strategies to enhance market penetration in various regions to reduce reliance on specific markets[168]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring compliance with all applicable provisions for the fiscal year ending December 31, 2023[69]. - The board of directors has confirmed compliance with the standards for securities trading as outlined in the Listing Rules, ensuring adherence to the established code of conduct[72]. - The company has established a whistleblowing policy to encourage employees to report any misconduct, with the audit committee responsible for overseeing this policy[152]. - The company has implemented a policy for insider information management to ensure timely and consistent disclosure to shareholders and investors[150]. Risk Management - The company has established a risk management policy and formal risk assessment system to identify, analyze, evaluate, and address risks[144]. - The board has engaged an independent internal control consulting firm to review the group's key business processes and internal control systems[142]. - The audit committee is responsible for reviewing reports from the internal control consultant to ensure the effectiveness of regulatory compliance procedures[143]. - The company has a commitment to maintaining effective and adequate risk management and internal control systems[142]. Board Structure and Diversity - The board consists of eight members, including five executive directors and three independent non-executive directors[80]. - The board has adopted a diversity policy, effective from June 1, 2019, which emphasizes various factors such as skills, industry experience, and gender diversity, currently comprising eight directors with three women[108]. - The nomination committee will review the board's composition and diversity annually, ensuring a balanced and diverse representation[115]. - The company aims to gradually increase the proportion of female members on the board as suitable candidates are identified[108]. Shareholder Communication and Rights - The company provides multiple communication channels to keep shareholders informed about its latest developments and financial performance[155]. - The company has maintained a commitment to transparency and shareholder rights, as highlighted in its corporate governance practices[69]. - The board will consider various factors, including actual and expected financial performance, economic conditions, and cash flow status when declaring dividends[134].

Financial Performance - The company's revenue for the year ended December 31, 2023, increased by approximately 6.1% to about 211.0 million MYR, compared to 198.9 million MYR for the year ended December 31, 2022[5]. - The profit attributable to the owners of the company for the year was approximately 20.6 million MYR, with basic earnings per share of 3.28 sen, up from 2.41 sen in the previous year[5]. - The total comprehensive income for the year was 23.15 million MYR, compared to 17.38 million MYR in the previous year, reflecting an increase of approximately 33.3%[6]. - The company reported a net profit before tax of 30.82 million MYR, an increase from 24.37 million MYR in the previous year, representing a growth of approximately 26.0%[6]. - The pre-tax profit for the year was 30,820 thousand MYR, resulting in a net profit of 22,166 thousand MYR after tax expenses of 8,654 thousand MYR[29]. - The company's pre-tax profit for 2023 was RM 30,820,000, compared to RM 24,367,000 in 2022, reflecting a growth of 26.5%[47]. - Gross profit rose by approximately 18.1%, attributed to improved consumer spending and successful cost reductions from major suppliers[88]. Assets and Liabilities - The company's non-current assets increased significantly to 89.93 million MYR in 2023 from 43.01 million MYR in 2022, primarily due to investments in property, plant, and equipment[7]. - Current assets totaled 151.92 million MYR, slightly up from 143.44 million MYR in the previous year, with cash and cash equivalents increasing to 93.25 million MYR from 79.16 million MYR[7]. - Total assets as of December 31, 2023, amounted to 241,847 thousand MYR, with total liabilities of 45,301 thousand MYR, indicating a healthy asset-to-liability ratio[32]. - The company’s trade and other payables increased to 7.46 million MYR from 5.62 million MYR, indicating a rise of approximately 32.7%[7]. - The group’s total liabilities amounted to (61,164) thousand MYR, with current liabilities being the primary contributor[68]. - The debt-to-equity ratio was approximately 3.3% as of December 31, 2023, a decrease from 4.3% as of December 31, 2022, due to repayment of borrowings and an increase in equity base[105]. Equity and Dividends - The company's total equity increased to 196.55 million MYR in 2023 from 173.40 million MYR in 2022, indicating a growth of approximately 13.3%[8]. - The company did not declare any dividends for the year, compared to no dividends declared in the previous year[5]. - The group does not recommend any dividend for the fiscal year, consistent with the previous year[89]. Investments and Acquisitions - The company has made significant investments in joint ventures, with investments in associates amounting to 32.15 million MYR in 2023[7]. - The company has entered into a conditional share purchase agreement to acquire 20,000 shares of Lordan, representing 40% of its issued share capital, for 57,218,250 HKD (approximately 34,139,000 MYR)[54]. - The company aims to expand its SaaS business and enhance its competitive advantage in e-commerce through the acquisition of the associate company[55]. - The fair value of the investment in associates exceeded the carrying amount by approximately 7,367,000 MYR as of December 31, 2023, with no impairment recognized[65]. - The group completed the acquisition of 40% of Lordan Group Ltd., which is expected to enhance sales and marketing efforts in the Chinese retail market[87]. Revenue Segmentation - For the year ended December 31, 2023, total segment revenue was 211,017 thousand MYR, an increase from 198,927 thousand MYR in 2022, representing a growth of approximately 6.5%[29][30]. - Wholesale revenue from Malaysia increased to RM 167,124,000 in 2023, up from RM 156,567,000 in 2022, representing a growth of 6.3%[35]. - Revenue from gift products surged by approximately 26.7% to about 38.4 million MYR, reflecting a significant increase in sales volume[92]. Operational Insights - The company plans to continue focusing on expanding its market presence and enhancing product offerings in the coming fiscal year[29]. - The outlook for 2024 remains uncertain and challenging, with the company focusing on monitoring and reviewing its business strategies[100]. - The group aims to expand its market share by enhancing warehouse capacity and improving logistics processes[101]. Other Financial Metrics - The income tax expense for 2023 was RM 8,654,000, an increase from RM 7,697,000 in 2022, indicating a rise of 12.4%[47]. - Interest income rose to RM 1,871,000 in 2023 from RM 1,156,000 in 2022, a significant increase of 62.0%[38]. - Total employee costs, including directors' remuneration, amounted to approximately RM 30.2 million for the year ended December 31, 2023, compared to RM 26.8 million in 2022[106]. Corporate Governance - The board believes the company has complied with all provisions of the corporate governance code during the year[126]. - The annual performance for the year ending December 31, 2023, has been reviewed by the audit committee and external auditors, confirming consistency with the audited financial statements[130].

Financial Performance - Revenue for the six months ended June 30, 2023, increased by approximately 18.9% to RM 95,030,000 from RM 79,923,000 in the same period last year[13] - Gross profit rose by 24.9% to RM 28,435,000, with a gross margin of 29.9%, compared to 28.5% in the previous year[13] - The profit attributable to owners of the company increased to RM 7,469,000, up from RM 6,006,000, representing a growth of approximately 24.3%[13] - Sales of printable apparel generated revenue of approximately RM 78,800,000, an increase of RM 12,000,000 or 18.0% from the previous year, with sales volume rising by 12.5% to approximately 6,300,000 units[17] - Revenue from gift products increased by 24.4% to RM 16,300,000, driven by a sales volume increase of 36.4% to approximately 4,500,000 units[23] - The profit attributable to the owners of the company was approximately 7,500,000 MYR, up from about 6,000,000 MYR in the same period last year, with a net profit margin of approximately 8.4% compared to 7.8% last year[30] - The company reported revenue of 95,030 thousand MYR for the six months ended June 30, 2023, an increase from 79,923 thousand MYR in the same period of 2022, representing a growth of approximately 19%[68] - Gross profit for the same period was 28,435 thousand MYR, up from 22,759 thousand MYR, indicating a year-over-year increase of about 25%[68] - The company achieved a profit before tax of 11,543 thousand MYR, compared to 9,121 thousand MYR in the previous year, reflecting a growth of approximately 27%[68] - Net profit for the period was 8,009 thousand MYR, an increase from 6,272 thousand MYR, which is a growth of around 28% year-over-year[68] - The total comprehensive income for the period amounted to 8,832 thousand MYR, compared to 6,850 thousand MYR in the prior year, representing an increase of about 29%[68] Expenses and Costs - Selling and distribution expenses increased by 17.0% to RM 5,500,000, reflecting higher employee benefits and marketing costs[25] - Administrative and other operating expenses increased by 25.0% to RM 13,000,000, mainly due to rising employee costs and director remuneration[27] - Financing costs decreased by 19.4% to RM 29,000, primarily due to a reduction in lease interest[28] - Total employee costs for the period amounted to approximately 16,600,000 MYR, compared to about 13,600,000 MYR in the same period last year[39] - The cost of goods sold for the six months ended June 30, 2023, was 66,595 thousand MYR, compared to 57,164 thousand MYR in the same period of 2022, indicating an increase of 16.5%[115] Taxation - The income tax expense increased by approximately 700,000 MYR or 25% to about 3,500,000 MYR compared to the same period last year, primarily due to an increase in profit before tax[29] - The total tax expense for the six months ended June 30, 2023, was 3,534 thousand MYR, compared to 2,849 thousand MYR in the same period of 2022, reflecting an increase of 24.1%[117] - The deferred tax liabilities increased to 3,484 thousand MYR for the six months ended June 30, 2023, from 2,291 thousand MYR in the same period of 2022, representing a growth of 52.2%[117] Assets and Liabilities - As of June 30, 2023, the group had a net current asset value of approximately 130,900,000 MYR, with cash and cash equivalents of about 80,200,000 MYR[37] - The group’s debt-to-equity ratio as of June 30, 2023, was approximately 3.7%, down from 4.3% as of December 31, 2022, due to repayment of interest-bearing loans and an increase in equity base[38] - Total assets decreased to 187,399 thousand MYR from 179,137 thousand MYR as of December 31, 2022, reflecting a 4.0% increase year-over-year[70] - The company reported a decrease in other receivables from MYR 9.82 million as of December 31, 2022, to MYR 6.63 million as of June 30, 2023[138] - The total value of trade receivables, net of impairment losses, was MYR 7.84 million as of June 30, 2023, an increase from MYR 7.35 million as of December 31, 2022[138] - The company reported inventory levels of MYR 43.32 million as of June 30, 2023, down from MYR 45.01 million as of December 31, 2022[137] - The total liabilities as of June 30, 2023, were MYR 13,558 thousand, compared to MYR 13,048 thousand as of December 31, 2022, showing a slight increase of about 3.9%[98][99] Business Strategy and Future Plans - The company plans to explore new business opportunities in Asian countries, particularly Indonesia, Thailand, and China, to ensure continued success amid economic uncertainties[16] - The group plans to enhance and improve existing warehouse capacity with a budget of 22.3 million HKD, which remains fully unutilized as of June 30, 2023[34] - The company plans to continue expanding its market presence in Malaysia and Singapore, focusing on providing printed apparel and gift products[84] - The group will continue to assess and explore new business opportunities in Asian countries to achieve sustainable growth and long-term benefits for shareholders[36] Shareholder Information - As of June 30, 2023, major shareholders, including MBV Capital Limited, held 471,000,000 shares, representing 75.0% of the total shareholding[58] - The company did not declare an interim dividend for the period[64] - The total number of issued and fully paid shares remained at 628,000 shares as of June 30, 2023, consistent with previous reporting periods[167] Capital Expenditures and Investments - The company acquired a land parcel in Johor Bahru, Malaysia for approximately MYR 23.6 million, with 40% of the payment (about MYR 10.24 million) made by June 30, 2023[126] - Capital expenditures for the first half of 2023 were MYR 24,992 thousand, significantly higher than MYR 2,361 thousand for the same period in 2022, indicating a substantial investment in growth[98][99] Compliance and Governance - The company has established an audit committee to oversee financial reporting processes[52] - The company adopted new/revised International Financial Reporting Standards effective from January 1, 2023, with no significant impact on the interim financial statements[88] - There were no significant post-period events reported after June 30, 2023[65]

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，概不就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。 MBV INTERNATIONAL LIMITED （於開曼群島註冊成立之有限公司） （股份代號：1957） 截至 年 月 日止六個月之中期業績公告 2023 6 30 財務摘要 截至2023年6月30日止六個月（「本期間」）： • 本集團（定義見下文）錄得未經審核收益約95,000,000令吉，較截至2022年6月30日止 六個月（「去年同期」）的約79,900,000令吉增加約18.9%； • 本集團於本期間錄得本公司擁有人應佔期內溢利約7,500,000令吉，較去年同期的約 6,000,000令吉增加約25.0%； • 本集團於本期間錄得本公司擁有人應佔每股盈利（未經審核）約1.19仙令吉，較去年 同期的約0.96仙令吉增加約24.0%；及 • 董事會（定義見下文）不建議派付中期股息。 ...

Financial Performance - The company's revenue for the year ended December 31, 2022, was approximately MYR 198.9 million, a 64.7% increase from MYR 120.8 million in 2021[8]. - Gross profit for the same period was approximately MYR 53.2 million, reflecting a gross margin of 26.7%, slightly down from 26.8% in the previous year[8]. - The pre-tax profit increased to approximately MYR 24.4 million, up from MYR 13.9 million in 2021, marking a significant growth[8]. - Earnings attributable to the owners of the company for the year were approximately MYR 15.1 million, compared to MYR 9.3 million in 2021, resulting in a basic earnings per share of 2.41 sen, up from 1.49 sen[8]. - Revenue from printable apparel increased by approximately MYR 64.2 million or 61.5% to MYR 168.6 million, driven by improved consumer sentiment following the easing of COVID-19 restrictions in Malaysia[17]. - Revenue from gift products rose by approximately MYR 13.9 million or 84.8% to MYR 30.3 million, attributed to a significant increase in sales volume[18]. Expenses and Liabilities - Selling and distribution expenses increased by approximately 70.2% to about MYR 9.7 million, primarily due to the rise in sales[19]. - Administrative and other operating expenses rose by approximately MYR 6.4 million or 40.8% to about MYR 22.1 million, mainly due to increased director remuneration and employee-related costs[20]. - Income tax expenses increased by approximately MYR 3.4 million or 79.1% to about MYR 7.7 million, primarily due to the increase in pre-tax profit[23]. - As of December 31, 2022, the group's cash and cash equivalents were approximately RM 79.2 million, a decrease from RM 81.1 million in 2021, primarily due to additional deposits paid for land acquisition[24]. - The group's current assets and current liabilities were approximately RM 143.4 million and RM 7.3 million, respectively, as of December 31, 2022, compared to RM 130.1 million and RM 6.5 million in 2021[26]. - The group's interest-bearing borrowings were approximately RM 6.3 million as of December 31, 2022, down from RM 7.0 million in 2021, with unutilized bank financing of RM 18.6 million[26]. Capital Expenditures and Investments - The group has committed but unallocated capital expenditures of RM 14.2 million as of December 31, 2022, down from RM 18.9 million in 2021[31]. - The group has paid 40% of the total consideration of RM 23.6 million for a land acquisition in Johor as of December 31, 2022, with the legal ownership registration process ongoing[33]. - The net proceeds from the IPO, amounting to approximately RM 60.3 million, are allocated for enhancing warehouse capacity, strengthening sales and marketing efforts, and developing an e-commerce sales platform[39]. - As of December 31, 2022, approximately HKD 47.7 million (about 79.1% of the net proceeds from the global offering) remains unutilized[40]. - The unutilized proceeds are deposited in the group's bank in Malaysia and are intended to be used in accordance with the proposed allocation in the prospectus[40]. Market Outlook and Strategy - The group plans to expand its market share by enhancing warehouse capacity, including purchasing land in Johor for a new warehouse and improving logistics processes[25]. - The group anticipates a challenging economic outlook for Malaysia and Singapore in 2023 due to rising interest rates and global inflation affecting consumer purchasing power[25]. - The company continues to implement strategies to develop and strengthen market penetration in different regions to reduce reliance on specific markets[151]. Corporate Governance - The board of directors confirmed compliance with corporate governance standards, ensuring transparency and accountability in operations[60]. - The board held a total of 4 regular meetings during the fiscal year ending December 31, 2022, with all directors attending all meetings[75]. - The Audit Committee, consisting of three independent non-executive directors, held 2 meetings during the fiscal year to assess the independence of the auditors and review financial performance[82][85]. - The company has established a governance framework that includes an Audit Committee, a Remuneration Committee, and a Nomination Committee to oversee various aspects of corporate governance[79]. - The company’s governance policies and practices were reviewed to ensure compliance with legal and regulatory requirements[81]. Risk Management - The board confirmed its responsibility to establish and maintain an effective risk management and internal control system[125]. - The group has identified major risks affecting operations using established risk assessment standards, with annual evaluations reported to the audit committee[127]. - The internal control consultant has reported findings and recommendations to the audit committee, ensuring compliance with applicable laws and regulations[126]. - The board reviewed the effectiveness of the risk management and internal control systems for the year ending December 31, 2022, and found them to be effective and sufficient[132]. Shareholder Relations - The company has established multiple communication channels with shareholders to enhance investor relations and welcome suggestions from investors and stakeholders[142]. - The company has reviewed the effectiveness of its shareholder communication policy and found it effective for the year ending December 31, 2022[143]. - Shareholders have the right to request the convening of a special general meeting if they hold at least 10% of the company's paid-up capital[113]. Sustainability and Social Responsibility - The company maintains a focus on sustainable practices and compliance with legal regulations to minimize environmental impact[161]. - The group made charitable donations amounting to approximately 13,000.00 MYR for the year ended December 31, 2022[191]. - Anti-corruption training has been provided to all managers and above, covering topics such as integrity and conflict of interest[136].

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，並明確表示概不就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。 MBV INTERNATIONAL LIMITED （於開曼群島註冊成立之有限公司） （股份代號：1957） 截至2022年12月31日止年度之 全年業績公告 財務摘要 截至2022年12月31日止年度（「本年度」）： • 本年度收益同比增加約64.7%至約198,900,000令吉，而截至2021年12月31日止年度 （「去年」）的收益約120,800,000令吉； • 本公司擁有人應佔本年度溢利約為15,100,000令吉（2021年：本公司擁有人應佔溢 利約9,300,000令吉）； • 本年度每股基本盈利為2.41（仙）令吉，而去年的每股基本盈利為1.49（仙）令吉；及 • 董事會（定義見下文）不建議向本公司股東就本年度派付任何股息。 MBV International Limited（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公司及 其附屬公司（統稱「本集團」）本年度的經審核綜合年度 ...

Revenue and Profitability - Revenue for the six months ended June 30, 2022, was RM 79,923,000, an increase of 54.5% compared to RM 51,673,000 in the same period of 2021[26] - Gross profit for the same period was RM 22,759,000, representing a gross margin of 28.5%, up from 24.1% in 2021[26] - The group reported a profit attributable to the owners of the company of 6,000,000 MYR, an increase from approximately 2,700,000 MYR in the same period last year, resulting in a net profit margin of 7.9%, up from 5.2%[43] - The net profit for the period was 6,272 thousand MYR, which is a significant increase of 135.6% compared to 2,662 thousand MYR in 2021[92] - The total comprehensive income for the period was 6,850 thousand MYR, compared to 1,613 thousand MYR in the same period last year, marking an increase of 324.5%[92] - The profit before tax was 9,121 thousand MYR, up from 4,381 thousand MYR in the previous year, reflecting a growth of 107.0%[92] Sales and Product Performance - The number of printed apparel and gift products sold increased by 45.9% from approximately 6,100,000 units to about 8,900,000 units[29] - The revenue from printed apparel products rose by 49.1% to approximately RM 66,800,000, with sales volume increasing from about 4,100,000 units to 5,600,000 units[34] - Revenue from gift products surged by 89.9% to approximately RM 13,100,000, with sales volume growing by 65.0% to about 3,300,000 units[35] - Wholesale revenue from ready-to-wear clothing reached 60,613 thousand MYR, up 50.1% from 40,420 thousand MYR in 2021[131] Expenses and Costs - Selling and distribution expenses increased by 62.1% to approximately RM 4,700,000, reflecting higher costs associated with sales personnel and advertising[37] - Administrative and other operating expenses rose by 38.7% to approximately RM 10,400,000, mainly due to increased employee costs and director remuneration[40] - The total cost of sales for the period was MYR 57.2 million, compared to MYR 39.2 million in the previous year, representing an increase of 46.0%[115] Assets and Liabilities - As of June 30, 2022, the group's current assets were valued at approximately 126,100,000 MYR, compared to 123,600,000 MYR as of December 31, 2021[58] - The group had cash and cash equivalents of 65,500,000 MYR as of June 30, 2022, down from approximately 81,100,000 MYR as of December 31, 2021[58] - The debt-to-equity ratio was approximately 4.8% as of June 30, 2022, down from 5.3% as of December 31, 2021, due to repayment of interest-bearing borrowings and an increase in equity base[59] - The total liabilities as of June 30, 2022, were 15,755 thousand MYR, an increase from 13,224 thousand MYR as of December 31, 2021, indicating a rise of 19.1%[123] - The company's total inventory increased significantly, with raw materials at 1,271,000 MYR, work in progress at 525,000 MYR, and finished goods at 34,249,000 MYR[159] Cash Flow and Financing - The net cash used in operating activities was reported at (9,694) thousand MYR, compared to a net cash inflow of 2,025 thousand MYR in the previous year, indicating a significant decline in cash flow from operations[101] - The net cash used in financing activities was MYR 628,000, a significant improvement compared to MYR 1.3 million in the same period last year[102] - The company recorded a decrease in cash and cash equivalents to 65,547 thousand MYR from 81,132 thousand MYR, a decline of approximately 19.2%[96] Taxation and Compliance - Income tax expenses increased by approximately 1,100,000 MYR or 64.7% to about 2,800,000 MYR due to an increase in taxable profits during the period[42] - The effective tax rate for the six months ended June 30, 2022, was impacted by estimated taxable profits calculated at 24% for Malaysian corporate income tax[139] - The company has complied with the corporate governance code as of June 30, 2022[68] Future Outlook and Strategic Plans - The company anticipates a gradual recovery in the business environment despite ongoing uncertainties in the economic outlook for the second half of 2022[29] - The company plans to continue expanding its market presence in Malaysia and Singapore, focusing on the wholesale and production of printed apparel and gift products[105] - The group plans to extend the expected timeline for the use of unutilized proceeds from the IPO to the end of the 2024 fiscal year to enhance future development flexibility[57] Corporate Governance and Other Information - The company has established an audit committee to oversee financial reporting processes[72] - There were no significant events after June 30, 2022, up to the report date[88] - The company did not recommend any interim dividend for the period[87]

Financial Performance - Revenue for the year ended December 31, 2021, increased by approximately 10.3% to RM 120.8 million from RM 109.5 million in 2020[8] - Gross profit rose by 6.8% to RM 32.4 million, with a gross margin of 26.8%, down from 27.7% in the previous year[8] - Profit attributable to owners of the company surged to RM 9.3 million, compared to RM 0.4 million in 2020, excluding listing expenses[8] - Revenue from printable apparel increased by 11.0% to RM 104.4 million, driven by improved consumer sentiment following the easing of COVID-19 restrictions in Malaysia[16] - Revenue from gift products rose by 6.5% to RM 16.4 million, attributed to a 16.8% increase in average selling price per item[17] Expenses and Costs - Sales and distribution expenses decreased by approximately 5% to RM 5.7 million, primarily due to effective salary control and reduced marketing expenses[18] - Administrative and other operating expenses increased by 12.1% to RM 15.7 million, mainly due to additional legal and professional fees related to compliance post-listing[19] - Income tax expenses increased by approximately MYR 0.6 million or 16.2% to about MYR 4.3 million due to an increase in profit before tax[22] - The total employee cost for the year ended December 31, 2021, was approximately MYR 18.5 million, slightly down from MYR 18.9 million in 2020[31] Cash and Assets - As of December 31, 2021, cash and cash equivalents were approximately MYR 81.1 million, up from MYR 66.1 million in 2020, primarily due to increased net cash inflow from operating activities[23] - As of December 31, 2021, the current assets and current liabilities were approximately MYR 130.1 million and MYR 6.5 million, respectively, with a net current asset value of about MYR 123.6 million[25] - The debt-to-equity ratio decreased to approximately 5.3% as of December 31, 2021, from 6.3% in 2020, mainly due to repayment of interest-bearing loans and an increase in equity base[30] Strategic Initiatives - The company has established warehousing facilities in Malaysia to meet customer demand, including two owned warehouses in Johor Bahru[10] - The group plans to enhance and increase warehousing capacity, including acquiring land in Johor for a new warehouse, to expand market share amid COVID-19 uncertainties[24] - The company plans to enhance and improve existing warehouse capacity with an investment of $22.3 million, expected to be completed by December 2024[41] - Strengthening sales and marketing efforts is projected to require $14.4 million, also targeted for completion by December 2024[41] - Establishing two new distribution centers is estimated to cost $4.8 million, with a completion date set for December 2024[41] - Investment in information systems is planned at $8.6 million, expected to be finalized by December 2024[41] - Development of an e-commerce sales platform is budgeted at $6.1 million, with a completion timeline of December 2024[41] Governance and Compliance - The board has confirmed compliance with corporate governance standards, ensuring transparency and accountability in operations[63] - The company has established a whistleblowing policy to encourage employees to report any misconduct, with the audit committee responsible for overseeing this policy[145] - The company has implemented a code of conduct applicable to employees and directors, ensuring compliance with legal and regulatory requirements[91] - The board consists of six members, including three executive directors and three independent non-executive directors[74] - The company provides professional training to directors to ensure they are updated on listing rules and governance policies[110] Risk Management - The group has established a risk management policy and formal risk assessment system, identifying and evaluating risks annually[137] - The effectiveness of the risk management and internal control systems was reviewed, and the board found them to be adequate and effective[141] - The group has engaged independent internal control consultants to review its internal control systems annually, ensuring compliance and effectiveness[138] - The board is responsible for monitoring compliance with applicable laws and regulations, ensuring the effectiveness of regulatory compliance procedures[135] Shareholder Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and ensure timely and non-selective disclosure of information[147] - The board is committed to engaging with shareholders through the annual general meeting to address their concerns[117] - The company has a process for shareholders to request special general meetings if they hold at least 10% of the paid-up capital[119] Future Outlook - The economic outlook for 2022 remains uncertain and challenging, but the company aims to enhance operational efficiency to maintain business sustainability[12] - The company anticipates challenges in the current fiscal year 2022 due to the ongoing impact of COVID-19[41] - The company will continuously assess and explore new business opportunities to achieve sustainable growth and long-term shareholder value[42]

Financial Performance - Revenue for the six months ended June 30, 2021, increased by approximately 22.5% to MYR 51,673,000 compared to MYR 42,174,000 for the same period in 2020[28] - Gross profit for the same period rose by approximately 9.5% to MYR 12,450,000, with a gross margin of 24.1%, down from 27.0% in the previous year[28] - The company reported a profit attributable to owners of the company of MYR 2,723,000, a significant recovery from a loss of MYR 4,155,000 in the prior year[28] - Sales of printable apparel increased by approximately 23.8% to MYR 44,800,000, driven by a volume increase from approximately 3,200,000 units to 4,100,000 units[34] - Revenue from gift products grew by approximately 16.9% to MYR 6,900,000, with sales volume rising from approximately 1,900,000 units to 2,000,000 units[35] - Other income surged by approximately 109.1% to MYR 2,300,000, primarily due to increases in interest income and inventory write-back[36] - The company recorded a profit attributable to owners of approximately 2,700,000 MYR, compared to a loss of approximately 4,200,000 MYR in the same period last year, resulting in a net profit margin of about 5.2% compared to a net loss margin of about 10.0% in the previous year[42] - For the six months ended June 30, 2021, the company reported a pre-tax profit of 4,381,000 MYR, compared to a loss of 3,871,000 MYR in the same period of 2020, indicating a significant turnaround in performance[129] Expenses and Costs - Sales and distribution expenses remained stable at approximately MYR 2,900,000 for both the current and prior periods[37] - Administrative and other operating expenses decreased by approximately 300,000 MYR or 3.8% to about 7,500,000 MYR compared to approximately 7,800,000 MYR in the same period last year, mainly due to a reduction in employee costs from a decrease in headcount[38] - Financing costs decreased by approximately 15,000 MYR or 37.5% to about 25,000 MYR from approximately 40,000 MYR in the same period last year, primarily due to a reduction in interest-bearing borrowings and actual interest rates[40] - Income tax expenses increased by approximately 1,200,000 MYR or 240.0% to about 1,700,000 MYR from approximately 500,000 MYR in the same period last year, mainly due to an increase in profit before tax[41] Assets and Liabilities - As of June 30, 2021, the group's current assets net value was approximately 118,200,000 MYR, with cash and cash equivalents of about 67,100,000 MYR[51] - The group’s gearing ratio was approximately 5.3% as of June 30, 2021, down from 6.3% as of December 31, 2020, due to repayment of borrowings and an increase in equity base[52] - Current assets totaled RM 125,477 thousand, slightly down from RM 126,240 thousand as of December 31, 2020[79] - Total liabilities decreased to RM 13,968 thousand from RM 14,666 thousand, showing improved financial stability[79] - The company's equity increased to RM 147,836 thousand from RM 146,223 thousand, reflecting a solid capital position[79] Cash Flow and Financing - Operating cash flow before changes in working capital was RM 3,113,000, compared to a negative cash flow of RM 1,622,000 in the prior year, indicating a turnaround in operational efficiency[85] - The net cash generated from operating activities was RM 2,025,000, a recovery from a net cash outflow of RM 7,805,000 in the previous year[85] - The company experienced a net increase in cash and cash equivalents of RM 1,057,000, contrasting with a decrease of RM 8,735,000 in the same period of 2020[88] - The company has a total available bank financing of approximately 24,800,000 MYR, of which about 7,300,000 MYR has been utilized[51] Corporate Governance - The company has adopted the standards of the Hong Kong Stock Exchange for securities trading, confirming compliance as of June 30, 2021[60] - The board believes that good corporate governance is crucial for the group's sustainable development, and compliance with the corporate governance code has been maintained[61] - The audit committee, consisting of three independent non-executive directors, has reviewed the group's unaudited consolidated performance for the period[64] Shareholder Information - As of June 30, 2021, the directors and the CEO collectively hold 471,000,000 shares, representing 75.0% of the company's equity[65] - MBV Capital Limited, which holds 471,000,000 shares (75.0%), is controlled by the directors, each owning approximately 33.3% of its issued share capital[66] - The board does not recommend the payment of an interim dividend for the period[72] Future Outlook - The company anticipates continued adverse effects on performance due to ongoing COVID-19 measures in Malaysia and Singapore[31] - The economic outlook for the second half of 2021 remains uncertain, prompting the company to focus on operational efficiency[31] Significant Events - There have been no significant events after June 30, 2021, up to the date of this report[73] - The company plans to extend the timeline for the use of unutilized proceeds from its IPO to the end of the 2023 fiscal year to enhance future development flexibility[48]