股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年8月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 興紡控股有限公司 | | | 呈交日期: | 2025年9月1日 | | I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01968 | 說明 | (N/A) | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.01 HKD | | 10,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 1,000,000,000 | HK ...

Group 1 - The core viewpoint of the article is that Xingfang Holdings (01968.HK) reported a slight decline in revenue for the first half of 2025, alongside a reduced loss compared to the previous year [1] - The company's revenue for the first half of 2025 was HKD 108 million, representing a year-on-year decrease of 1.70% [1] - The loss attributable to shareholders for the period was HKD 10.41 million, an improvement from a loss of HKD 17.14 million in the same period last year [1] - The basic earnings per share for the company were HKD 0.0163 [1]

Core Viewpoint - The company reported a revenue of HKD 108 million for the six months ending June 30, 2025, representing a year-on-year decrease of 1.7% [1] - The loss attributable to shareholders was HKD 10.41 million, a reduction of 39.28% compared to the previous year, with a loss per share of HKD 0.0163 [1] Group 1 - The denim business experienced two distinct phases during the first half of 2025, benefiting from the "China Plus One" strategy established in 2024 [1] - The production facilities in Vietnam showed strong performance in the initial months, following a successful "seed phase" that led to significant growth [1] - There was an increase in demand from premium denim brands in the United States, particularly those seeking reliable suppliers for tariff-advantaged production solutions, which further enhanced the performance of the high-margin segment [1]

Core Viewpoint - The company reported a revenue of HKD 108 million for the six months ending June 30, 2025, representing a year-on-year decrease of 1.7% and a loss attributable to shareholders of HKD 10.41 million, a reduction of 39.28% compared to the previous year [1]. Group 1: Financial Performance - The company achieved a revenue of HKD 108 million, which is a 1.7% decrease year-on-year [1]. - The loss attributable to shareholders was HKD 10.41 million, showing a 39.28% decrease year-on-year [1]. - The loss per share was HKD 0.0163 [1]. Group 2: Business Operations - The denim fabric business experienced two distinct phases during the first half of 2025 [1]. - The production facilities in Vietnam performed strongly in the initial months, benefiting from the "China Plus One" strategy established in 2024 [1]. - The successful "seeding period" led to significant growth, attracting new customers and encouraging existing brand owners to increase order volumes and product options [1]. - There was a growing demand from premium denim brands in the U.S., particularly those seeking reliable suppliers for tariff-advantaged production solutions, which further enhanced the performance of the high-margin segment [1].

Financial Performance - Total revenue for the six months ended June 30, 2025, decreased by approximately 1.70% to HKD 108.3 million, compared to HKD 110.1 million for the same period in 2024[4] - The company reported a net loss attributable to shareholders of approximately HKD 10.4 million for the six months ended June 30, 2025, compared to a net loss of approximately HKD 17.1 million for the same period in 2024[4] - Basic loss per share for the six months ended June 30, 2025, was HKD 1.63 cents, compared to HKD 2.68 cents for the same period in 2024[4] - Revenue for the period was HKD 108,258 million, compared to HKD 110,135 million in the previous period, representing a decrease of approximately 1.6%[5] - Gross profit was HKD 16,233 million, down from HKD 20,328 million, indicating a decline of about 20%[5] - The net loss attributable to the company was HKD 17,144 million, compared to a net loss of HKD 10,410 million in the prior period, reflecting an increase in losses of approximately 64%[5] - Basic loss per share was HKD 2.68, compared to HKD 1.63 in the previous period, indicating a significant increase in loss per share[5] - Total revenue for the six months ended June 30, 2025, was HKD 108,258,000, compared to HKD 110,135,000 for the same period in 2024, representing a decrease of approximately 1.6%[19] - The group reported a pre-tax loss of HKD 10,594,000 in 2025, an improvement from a loss of HKD 17,097,000 in 2024, showing a reduction of approximately 38.5%[16] Revenue Breakdown - For the Beef Division, external sales were HKD 99,467,000 in 2025, down from HKD 110,059,000 in 2024, representing a decrease of approximately 9.4%[16] - The Property Renovation Services Division reported external sales of HKD 8,791,000 in 2025, a significant increase from HKD 76,000 in 2024, indicating a growth of over 11,500%[16] - The geographical revenue breakdown shows that revenue from Bangladesh was HKD 33,765,000 in 2025, down from HKD 40,796,000 in 2024, a decrease of about 17.5%[18] - Revenue from Vietnam decreased to HKD 20,844,000 in 2025 from HKD 8,383,000 in 2024, indicating a growth of approximately 148.5%[18] - Revenue from Hong Kong was HKD 20,342,000 in 2025, down from HKD 25,565,000 in 2024, representing a decline of about 20.5%[18] - Revenue from China was HKD 18,213,000 in 2025, a decrease from HKD 20,709,000 in 2024, reflecting a decline of approximately 12.0%[18] - Revenue from the United States was HKD 2,246,000 in 2025, with no revenue reported in 2024, indicating a new market entry[18] Expenses and Costs - Total operating expenses were HKD 32,176 million, compared to HKD 32,689 million, showing a slight decrease of about 1.6%[5] - Research and development expenses amounted to HKD 4,453 million, up from HKD 3,550 million, representing an increase of approximately 25.4%[5] - Selling and distribution expenses were HKD 6,695 million, slightly down from HKD 6,749 million, indicating a decrease of about 0.8%[5] - Administrative expenses totaled HKD 22,028 million, compared to HKD 22,390 million, reflecting a decrease of approximately 1.6%[5] - The pre-tax loss for the six months ended June 30, 2025, included employee benefits totaling HKD 24,832,000, compared to HKD 25,869,000 for the same period in 2024[21] Assets and Liabilities - Total non-current assets amounted to HKD 145,361 thousand as of June 30, 2025, compared to HKD 143,537 thousand as of December 31, 2024, reflecting an increase of 1.27%[6] - Current assets totaled HKD 171,709 thousand as of June 30, 2025, down from HKD 188,168 thousand as of December 31, 2024, representing a decrease of 8.74%[6] - Total liabilities decreased from HKD 71,946 thousand as of December 31, 2024, to HKD 71,946 thousand as of June 30, 2025, indicating no change[6] - The net value of current assets was HKD 99,763 thousand as of June 30, 2025, compared to HKD 110,233 thousand as of December 31, 2024, a decline of 9.43%[6] - Total equity attributable to the owners of the company was HKD 230,312 thousand as of June 30, 2025, down from HKD 240,722 thousand as of December 31, 2024, a decrease of 4.34%[7] - The company reported a financial asset impairment loss of HKD 104 million, compared to a gain of HKD 242 million in the previous period, indicating a significant shift in financial performance[5] Cash Flow and Financing - The company maintained cash on hand of approximately HKD 43.0 million as of June 30, 2025, down from HKD 57.9 million a year earlier[33] - The bank borrowings amounted to HKD 36.1 million as of June 30, 2025, an increase from HKD 30.8 million as of December 31, 2024[39] - The debt-to-equity ratio increased from 16.0% in 2024 to 18.0% as of June 30, 2025, due to lower interest loans obtained from a bank in China[33] - The capital debt ratio increased to 18.0% as of June 30, 2025, from 16.0% as of December 31, 2024[40] Strategic Initiatives - The company has implemented strict cost control measures to ensure profitability amidst geopolitical uncertainties and macroeconomic challenges[31] - The company launched its own developed multi-weave denim during the review period, catering to the growing market preference for differentiated, high-quality denim[35] - The company aims to optimize its supply chain and explore new markets through product innovation[35] - The group is focusing on high-margin textile solutions, investing heavily in R&D for high-end woven fabrics, aiming for higher profitability and reduced competition risks from basic textiles[49] - The group plans to strengthen partnerships with brand owners and actively participate in major fabric exhibitions in the US and China to secure more sales orders[50] - The group aims to develop sustainable textiles by integrating recycled materials and eco-friendly production methods to meet the growing market demand for responsible solutions[49] Shareholder Information - Wan Fung Investment holds a 75% equity interest in the company, making it the controlling shareholder[58] - Liu holds a 40% stake in Wan Fung Investment, while Dong Wei Ting and Dong Zhuo Ming each hold 20%[63] - The total number of shares held by Wan Fung Investment is 480,000,000, representing 75% of the issued shares[60] Other Information - The company did not declare or recommend any dividends for the six months ended June 30, 2025, consistent with the previous year[23] - The group has no significant contingent liabilities or capital commitments as of June 30, 2025[45][38] - No significant events occurred in the group after June 30, 2025, up to the announcement date[62] - The company will publish its interim report for the six months ending June 30, 2025, in accordance with applicable laws and regulations[64]

格隆汇8月14日丨兴纺控股(01968.HK)宣布，本公司谨订于2025年8月28日（星期四）举行董事会会议， 藉以（其中包括）批准刊发本公司及其附属公司截至2025年6月30日止六个月的未经审核综合财务业 绩，并考虑宣派中期股息（如有）。 ...

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依賴該等內容而引致的任何損失承擔任何責任。 HINGTEX HOLDINGS LIMITED 興 紡 控 股 有 限 公 司 興紡控股有限公司 主席兼非執行董事 劉中秋 香港，二零二五年八月十四日 於本公告日期，執行董事為董韋霆先生及董卓明先生；主席兼非執行董事為劉中 秋女士；及獨立非執行董事為曾令鏢先生、張之傑先生及黃銘斌先生。 董事會會議通告 興紡控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司謹訂於二零二 五年八月二十八日（ 星期四 ）舉行董事會會議，藉以（ 其中包括 ）批准刊發本公司及 其附屬公司截至二零二五年六月三十日止六個月之未經審核綜合財務業績，並考 慮宣派中期股息（ 如有 ）。 承董事會命 （於開曼群島註冊成立的有限公司） （股份代號：1968） ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: 興紡控股有限公司 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01968 | 說明 | (N/A) | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 640,000,000 | | 0 | | 640,000,000 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 640,000,000 | | 0 | | 640,000,000 | 第 2 頁 共 10 頁 v 1.1.1 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | ...

Financial Performance - Total revenue for the year ended December 31, 2024, was approximately HKD 214.7 million, an increase of about 31.8% compared to HKD 162.9 million in 2023[4] - Gross profit amounted to approximately HKD 33.4 million, with a gross margin of 15.6%, up from 13.3% in 2023[4] - The company reported a loss before tax of HKD 36,349,000, an improvement from a loss of HKD 43,268,000 in the previous year[163] - Net loss attributable to shareholders for the year was HKD 34,950,000, compared to HKD 37,800,000 in 2023, indicating a reduction in losses[163] - Basic and diluted loss per share improved to HKD 5.46 from HKD 5.91 in the previous year[163] - Total assets decreased to HKD 253,770,000 from HKD 284,600,000, reflecting a decline of 10.8%[165] - Current liabilities increased to HKD 77,935,000 from HKD 58,583,000, a rise of 33.1%[165] - The company's cash and cash equivalents decreased to HKD 46,187,000 from HKD 60,740,000, a decline of 23.9%[165] - Non-current liabilities increased to HKD 13,048,000 from HKD 8,928,000, an increase of 46.0%[166] - Total equity attributable to shareholders decreased to HKD 240,722,000 from HKD 275,672,000, a decrease of 12.7%[166] Cash Flow and Liquidity - Cash and cash equivalents decreased from HKD 60.7 million in 2023 to HKD 46.2 million in the current year[5] - As of December 31, 2024, cash and cash equivalents decreased by HKD 14.5 million to HKD 46.2 million, compared to HKD 60.7 million in 2023, primarily due to operational and marketing needs[13] - Cash flow from operating activities showed a net outflow of HKD 9,717,000 for 2024, compared to HKD 14,452,000 in 2023, indicating a 32% improvement[169] - The company’s cash and cash equivalents decreased to HKD 46,187,000 at the end of 2024 from HKD 60,740,000 at the end of 2023, a decline of approximately 24%[170] Debt and Equity - The debt-to-equity ratio increased from 11.8% in 2023 to 16.0% in the current year, primarily due to new low-interest borrowings from a bank in mainland China[5] - The capital-to-debt ratio as of December 31, 2024, was 16.0%, up from 11.8% in 2023, calculated based on total borrowings and total equity[16] - As of December 31, 2024, bank borrowings were approximately HKD 30.8 million, compared to HKD 29.0 million in 2023, with available bank financing of HKD 71.7 million[15] Production and Operations - The company is expanding production capacity in Vietnam and plans to establish a comprehensive vertical production line to meet the needs of brand owners adopting the "China Plus One" strategy[8] - Two advanced dyeing and finishing machines have been installed and are fully operational, expected to significantly enhance production capacity for high-demand denim products[9] - The main business of the group is the manufacturing and sale of denim fabric[33] - The company is committed to developing sustainable denim products using certified recycled materials and organic cotton yarns to align with market trends[10] Market Strategy - The company aims to diversify its customer base and reduce reliance on a single market by expanding its presence in Europe through new partnerships[10] - Management remains cautiously optimistic about future performance, anticipating significant growth in the U.S. market starting in 2025[8] Governance and Compliance - The board does not recommend the payment of a final dividend for the year[37] - The board has developed and reviewed corporate governance policies, including compliance with legal and regulatory requirements[109] - The company has confirmed compliance with the non-competition agreement by its controlling shareholders[90] - The independent auditor's report confirms that the consolidated financial statements fairly present the financial position of the group as of December 31, 2024, in accordance with Hong Kong Financial Reporting Standards[147] Shareholder Information - Wan Fung Investment holds 480,000,000 shares, representing a 75% equity interest in the company[54] - The board members Liu, Dong Wei Ting, and Dong Zhuo Ming each hold 100% beneficial ownership of their shares in Wan Fung Investment[51] - The company has not made any arrangements to waive or agree to waive any dividends for the year[38] - Shareholders holding at least 10% of voting rights can request the board to convene a special general meeting[141] Audit and Financial Reporting - The board report has been audited by Ernst & Young and reviewed by the audit committee[31] - The audit committee reviewed the audited consolidated financial statements for the year ending December 31, 2023, and the unaudited interim financial statements for the six months ending June 30, 2024[123] - The external auditor, Ernst & Young, received a fee of HKD 1,250,000 for audit services and HKD 468,000 for non-audit services during the year[134] Environmental and Social Responsibility - The company is committed to improving environmental performance by reducing wastewater pollutants and carbon emissions while maintaining production capacity[83] - The group reported a charitable donation of approximately HKD 221,000 for the year[39] Future Outlook - The group has no specific plans for significant investments or capital assets for the upcoming year as of December 31, 2024[91] - The board will review the dividend policy periodically and may update it as deemed appropriate[137]

Financial Performance - Total revenue for the year ending December 31, 2024, increased by approximately 31.8% to HKD 214.7 million, compared to HKD 162.9 million for the year ending December 31, 2023[2] - The net loss attributable to the company for the year ending December 31, 2024, was approximately HKD 35.0 million, an improvement from a net loss of approximately HKD 37.8 million for the year ending December 31, 2023[2] - Basic loss per share for the year ending December 31, 2024, was HKD 5.46, compared to HKD 5.91 for the year ending December 31, 2023[2] - Gross profit for the year ending December 31, 2024, was HKD 33.4 million, up from HKD 21.7 million for the previous year[4] - The company reported a loss before tax of HKD 36.3 million for the year ending December 31, 2024, compared to a loss of HKD 43.3 million for the previous year[4] - The total pre-tax loss for the group was HKD 36,349,000, compared to a loss of HKD 43,268,000 in 2023, showing a reduction in losses[18] Revenue Breakdown - The sales of elastic denim fabric amounted to HKD 185,840,000, up from HKD 139,950,000 in the previous year, indicating a growth of 32.8%[20] - Revenue from property renovation services was HKD 11,425,000, with no revenue reported in the previous year[20] - The geographical revenue breakdown shows that revenue from Malaysia was HKD 54,564,000, up from HKD 42,128,000 in 2023, reflecting a growth of 29.4%[19] - Revenue from mainland China increased to HKD 53,788,000 from HKD 26,936,000, marking a significant growth of 99.5%[19] - The total revenue from customer contracts for the year was HKD 214,670,000, compared to HKD 162,884,000 in the previous year, indicating overall growth[20] Expenses and Costs - Other income for the year ending December 31, 2024, was HKD 3.2 million, compared to HKD 3.8 million for the year ending December 31, 2023[4] - Administrative expenses for the year ending December 31, 2024, were HKD 46.1 million, slightly higher than HKD 44.8 million for the previous year[4] - Research and development expenses for the year ending December 31, 2024, were HKD 7.5 million, compared to HKD 8.1 million for the year ending December 31, 2023[4] - Total employee benefits expenses for the year ended December 31, 2024, were HKD 52,253,000, compared to HKD 47,173,000 for the year ended December 31, 2023, representing an increase of about 10.4%[23] - The depreciation expense for property, plant, and equipment was HKD 8,693,000 for the year ended December 31, 2024, compared to HKD 9,613,000 for the year ended December 31, 2023, indicating a decrease of approximately 9.6%[23] Assets and Liabilities - Non-current assets totaled HKD 143.537 billion as of December 31, 2024, compared to HKD 152.572 billion in 2023, representing a decrease of approximately 5.4%[5] - Current assets amounted to HKD 188.168 billion, slightly down from HKD 190.611 billion in the previous year, indicating a decrease of about 1.3%[5] - Total liabilities for current liabilities were HKD 77.935 billion, a significant increase from HKD 58.583 billion, reflecting an increase of approximately 33%[5] - The net value of current assets was HKD 110.233 billion, compared to HKD 132.028 billion in 2023, showing a decline of around 16.5%[5] - The total asset value after deducting current liabilities was HKD 253.770 billion, down from HKD 284.600 billion, indicating a decrease of about 10.8%[5] Equity and Capital Structure - The company reported a total equity of HKD 275.672 billion, an increase from HKD 240.722 billion, representing a growth of approximately 14.5%[6] - The debt-to-equity ratio increased from 11.76% in 2023 to 15.95% in the current year, primarily due to obtaining lower interest loans from a bank in mainland China[37] - The group’s capital-to-debt ratio increased to 16.0% from 11.8% in 2023, reflecting a higher proportion of debt relative to equity[51] Strategic Initiatives - The company aims to improve its financial performance and reduce losses in the upcoming fiscal year[3] - The company continues to explore new product development and market expansion strategies to enhance revenue growth[3] - The company plans to explore market expansion opportunities and potential mergers and acquisitions to enhance its competitive position[8] - The group is actively expanding its customer base and solidifying market position, with stable orders from major brand owners in the U.S. and significant growth from smaller quality brands[38] - The group plans to develop sustainable functional denim products using certified recycled materials and organic cotton yarns to maintain competitiveness and align with market trends[46] Compliance and Governance - The consolidated financial statements are prepared based on the Hong Kong Financial Reporting Standards and presented in Hong Kong dollars (HKD) with all values rounded to the nearest thousand[9] - The functional currency of the company is US dollars (USD) as the group's sales activities are primarily denominated in USD[9] - The group has adopted revised Hong Kong Financial Reporting Standards for the current financial year, which do not impact the financial position or performance[14] - The company confirms compliance with the corporate governance code as of December 31, 2024[60] - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ended December 31, 2024[62] Future Outlook - Management remains cautiously optimistic about performance in the new fiscal year, anticipating significant growth in the U.S. market starting in 2025[42] - The group plans to further expand production capacity in Vietnam, establishing a comprehensive vertical production line to meet the needs of brand owners adopting the "China Plus One" strategy[43] - A new production line was established in collaboration with a Vietnamese contractor, enhancing operational flexibility and meeting diverse customer needs[39]