Financial Performance - For the fiscal year ending June 30, 2024, the company reported total revenue of HKD 296,242,000, a decrease of 44.6% compared to HKD 534,445,000 in the previous year[1] - Gross profit for the same period was HKD 83,730,000, down 62.1% from HKD 220,776,000 year-on-year[1] - The company recorded a net profit attributable to shareholders of HKD 17,145,000, a significant decline of 77.9% from HKD 77,486,000 in the prior year[1] - Basic and diluted earnings per share were HKD 3.57, compared to HKD 16.14 in the previous year, reflecting a decrease of 77.9%[1] - Total comprehensive income attributable to shareholders was HKD 16,086,000, down 75.8% from HKD 64,934,000 year-on-year[2] - Revenue decreased by approximately 44.6% from about HKD 534.4 million for the year ended June 30, 2023, to approximately HKD 296.2 million for the year ending June 30, 2024[38] Revenue Breakdown - Revenue from major customers included HKD 180,482,000 from Customer A and HKD 34,971,000 from Customer B, with Customer A's revenue decreasing by 53.0% from HKD 384,213,000 in 2023[12] - Revenue from packaging printing services fell by about 58.8% to approximately HKD 73.3 million for the year ending June 30, 2024, down from approximately HKD 177.7 million[31] - Revenue from paper gift set printing decreased by approximately 36.7% to about HKD 188.4 million for the year ending June 30, 2024, compared to approximately HKD 297.7 million[32] - Revenue from color card printing services declined by about 32.1% to approximately HKD 19.0 million for the year ending June 30, 2024[33] - Revenue from smart packaging printing services decreased by approximately 53.2% to about HKD 9.5 million for the year ending June 30, 2024[34] - Other printing revenue fell by approximately 43.9% to about HKD 6.0 million for the year ending June 30, 2024[35] Assets and Liabilities - Non-current assets decreased to HKD 258,780,000 from HKD 290,989,000, a decline of 11.1%[3] - Current assets totaled HKD 373,656,000, down from HKD 407,818,000, representing a decrease of 8.4%[3] - Total liabilities decreased to HKD 152,693,000 from HKD 209,710,000, a reduction of 27.2%[3] - The company’s net assets attributable to shareholders were HKD 479,743,000, down from HKD 489,097,000, a decrease of 1.4%[3] - As of June 30, 2024, the company's net assets were approximately HKD 479.7 million, down from HKD 489.1 million as of June 30, 2023, mainly due to dividend payments[46] Cash Flow and Expenditures - The company’s cash and cash equivalents increased to HKD 316,885,000 from HKD 305,757,000, an increase of 3.7%[3] - Cash and bank balances as of June 30, 2024, were approximately HKD 317.0 million, an increase from HKD 305.9 million as of June 30, 2023, with a current ratio of approximately 7.1 compared to 4.1 in the previous year[46] - The company recorded capital expenditures of over HKD 5.4 million during the year, primarily allocated for automation, equipment upgrades, and lease renovations[47] Expenses and Costs - The cost of goods sold for the year was HKD 212,512,000, down 32.3% from HKD 313,669,000 in 2023[16] - Administrative expenses decreased from approximately HKD 106.3 million for the year ended June 30, 2023, to about HKD 72.1 million for the year ending June 30, 2024[41] - The direct labor costs for the year ending June 30, 2024, were approximately HKD 27.2 million, compared to HKD 58.4 million for the year ending June 30, 2023[49] Taxation and Dividends - The estimated taxable profit in Hong Kong was calculated at a tax rate of 16.5%, with a two-tier tax rate applicable for one subsidiary at 8.25% for the first HKD 2 million[20] - Income tax expenses decreased significantly from approximately HKD 26.5 million for the year ending June 30, 2023, to about HKD 0.9 million for the year ending June 30, 2024, with the effective tax rate dropping from approximately 25.5% to 5.1%[45] - The company proposed an interim dividend of HKD 0.01 per share for 2024, compared to HKD 0.022 per share in 2023[20] - The board proposed a final cash dividend of HKD 0.025 per share, bringing the total dividends for the year to HKD 0.035 per share, down from HKD 0.065 per share in the previous year[50] Corporate Governance and Compliance - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules throughout the fiscal year ending June 30, 2024[55] - The audit committee, consisting of three independent non-executive directors, reviewed the financial results for the year ending June 30, 2024[58] - The preliminary results published by the company were verified by Ernst & Young, confirming consistency with the draft consolidated financial statements[59] - The annual report for the fiscal year ending June 30, 2024, will be distributed to shareholders and published on the company's website[60] Market Conditions and Challenges - The company faced ongoing challenges due to geopolitical tensions and economic uncertainties affecting the printing industry[25] - The group has only one reportable operating segment, which is the manufacturing and sale of printed products[10]

Financial Performance - The Group's revenue decreased by approximately 55.6% to approximately HK$152.7 million for the six months ended 31 December 2023, compared to the same period last year[13]. - Gross profit dropped by approximately 68.9% from approximately HK$148.1 million for the six months ended 31 December 2022 to approximately HK$46.1 million for the six months ended 31 December 2023[14]. - Net profit for the period decreased by approximately HK$60.4 million from approximately HK$66.1 million for the six months ended 31 December 2022 to approximately HK$5.7 million for the six months ended 31 December 2023[15]. - Basic earnings per share was HK1.18 cents, compared to HK13.77 cents for the corresponding period in 2022[16]. - Profit before tax decreased significantly to HK$7.1 million, compared to HK$84.7 million in the previous year, reflecting a decline of 91.6%[91]. - Profit for the period decreased to HK$5,660,000 for the six months ended December 31, 2023, compared to HK$66,074,000 for the same period in 2022, representing a decline of approximately 91.4%[94]. - Total comprehensive income attributable to owners of the company for the period was HK$3,366,000, down from HK$48,868,000 in the previous year, a decrease of about 93.1%[94]. Revenue Breakdown - Revenue contribution from packaging printing services was 27.7% for the six months ended 31 December 2023, down from 33% in the same period last year[22][24]. - Revenue contribution from paper gift set printing services was 62.5% for the six months ended 31 December 2023, down from 56.8% in the same period last year[22][24]. - Revenue from packaging printing decreased by approximately 62.8% to approximately HK$42.3 million for the six months ended 31 December 2023 compared to the same period in 2022[25]. - Revenue from paper gift set printing decreased by approximately 51.2% to approximately HK$95.5 million for the six months ended 31 December 2023 compared to the same period in 2022[28]. - Revenue from card printing dropped approximately 78.6% to approximately HK$5.8 million for the six months ended 31 December 2023 compared to the same period in 2022[29]. - Revenue from smart package printing rose by approximately 35.7% to approximately HK$7.6 million for the six months ended 31 December 2023 compared to the same period in 2022[30]. - Revenue from other printing decreased by approximately 39.1% to approximately HK$1.5 million for the six months ended 31 December 2023 compared to the same period in 2022[35]. - Overall revenue decreased by approximately 55.6% to approximately HK$152.7 million for the six months ended 31 December 2023 compared to approximately HK$344.3 million for the same period in 2022[41]. Cost and Expenses - Gross profit margin declined from approximately 43.0% for the six months ended 31 December 2022 to approximately 30.2% for the six months ended 31 December 2023[15]. - Administrative expenses decreased from approximately HK$61.3 million for the six months ended 31 December 2022 to approximately HK$43.1 million for the six months ended 31 December 2023[44]. - Selling and distribution expenses decreased from approximately HK$4.6 million to approximately HK$3.1 million for the same periods, mainly due to a drop in sales[48]. - Employee benefit expenses (excluding directors' remuneration) decreased to HK$36,481,000, down 45.8% from HK$67,113,000 in 2022[135]. Market Conditions - The printing industry in Hong Kong continues to face challenges due to the global economic slowdown and high inflation[8]. - The Group's business operations are affected by geopolitical tensions and uncertainties stemming from the Russo-Ukrainian War[8]. - Customers have adopted a conservative consumption approach, leading to a reduction in spending on printing and promotional products[13]. - The interim period of 2023/2024 is expected to be challenging due to geopolitical tensions, high inflation, and uncertain material supplies[36]. Cash Flow and Assets - Cash and bank balances decreased from approximately HK$305.9 million to approximately HK$282.5 million, with net current assets also declining from approximately HK$308.8 million to approximately HK$298.2 million[60]. - The current ratio improved from approximately 4.1 times to approximately 5.4 times as of 31 December 2023[60]. - Cash generated from operations decreased significantly to HK$26,358,000, compared to HK$120,316,000 in the prior year[102]. - Net cash flows from operating activities were negative at HK$13,473,000, down from positive cash flows of HK$99,514,000 in the previous year[102]. - Cash and cash equivalents at the end of the period stood at HK$282,467,000, an increase from HK$263,907,000 at the end of the previous year[103]. - The company reported a decrease in inventories by HK$3,388,000, compared to a decrease of HK$14,436,000 in the previous year[102]. Dividends - An interim dividend of HK1 cent per share has been proposed, down from HK2.2 cents in the previous year[78]. - The final dividend declared for 2023 was HK$20,640,000, reflecting a significant reduction compared to the previous year's dividend[99]. - Dividends paid decreased to HK$20,640,000 from HK$32,640,000 in the prior year, reflecting a reduction in cash outflow[103]. Shareholding and Management - As of December 31, 2023, Chan Peter Tit Sang holds 360,000,000 shares, representing 75% of the total issued share capital of the Company[190]. - Chan Kenneth Chi Kin also holds 360,000,000 shares, equivalent to 75% of the total issued share capital[198]. - The Group's key management personnel compensation for the six months ended December 31, 2023, totaled HK$15,429,000, a decrease of 51.4% from HK$31,793,000 in the previous year[185].

Financial Performance - The Group's revenue decreased by approximately 55.6% to approximately HK$152.7 million for the six months ended 31 December 2023, compared to the same period last year[17]. - Gross profit dropped by approximately 68.9% from approximately HK$148.1 million for the six months ended 31 December 2022 to approximately HK$46.1 million for the six months ended 31 December 2023[13]. - Net profit for the period decreased by approximately HK$60.4 million from approximately HK$66.1 million for the six months ended 31 December 2022 to approximately HK$5.7 million for the six months ended 31 December 2023[14]. - Basic earnings per share was HK1.18 cents, compared to HK13.77 cents for the corresponding period in 2022[18]. - Profit for the period was HK$5.7 million, a significant decline of 91.4% compared to HK$66.1 million in the same period last year[91]. - Total comprehensive income for the period attributable to owners was HK$3.37 million, down from HK$48.87 million in the previous year[93]. Revenue Breakdown - Revenue from packaging printing decreased by approximately 62.8% to approximately HK$42.3 million for the six months ended 31 December 2023, primarily due to customers' concerns over global economic slowdown and inflation[28]. - Revenue from paper gift set printing decreased by approximately 51.2% to approximately HK$95.5 million for the six months ended 31 December 2023, as customers adopted a conservative consumption approach[32]. - Revenue from card printing dropped approximately 78.6% to approximately HK$5.8 million for the six months ended 31 December 2023, due to the absence of special promotion campaigns by overseas customers[33]. - Revenue from smart package printing rose by approximately 35.7% to approximately HK$7.6 million for the six months ended 31 December 2023, attributed to signs of recovery in the retail market in Hong Kong[34]. - Revenue from other printing services decreased by approximately 39.1% to approximately HK$1.5 million for the six months ended 31 December 2023, mainly due to the decline in sales from packaging and paper gift set printings[44]. Profitability Metrics - Gross profit margin declined from approximately 43.0% for the six months ended 31 December 2022 to approximately 30.2% for the six months ended 31 December 2023[14]. - Net profit margin decreased from approximately 19.2% for the six months ended 31 December 2022 to approximately 3.7% for the six months ended 31 December 2023[14]. - Fixed production costs remained constant despite the revenue decline, impacting overall profitability[13]. Cost Management - Administrative expenses decreased from approximately HK$61.3 million for the six months ended 31 December 2022 to approximately HK$43.1 million for the six months ended 31 December 2023, due to stricter cost control measures[52]. - Selling and distribution expenses decreased from approximately HK$4.6 million to approximately HK$3.1 million, primarily due to a drop in sales[58]. - Direct labor costs amounted to approximately HK$15.7 million for the six months ended December 31, 2023, a decrease from approximately HK$37.7 million for the same period in 2022[79]. Cash Flow and Assets - Cash generated from operations for the six months ended December 31, 2023, was HK$26,358,000, down from HK$120,316,000 in the same period of 2022, representing a decrease of about 78.1%[106]. - Cash and bank balances decreased from approximately HK$305.9 million to approximately HK$282.5 million, with net current assets declining from approximately HK$308.8 million to approximately HK$298.2 million[70][72]. - The current ratio improved from approximately 4.1 times to approximately 5.4 times as of December 31, 2023[70]. - As of December 31, 2023, total current assets were HK$366.0 million, down from HK$407.8 million as of June 30, 2023[98]. Dividends and Shareholder Information - The Directors recommended an interim dividend of HK1 cent per share, down from HK2.2 cents in 2022[80]. - The company declared a final dividend of HK$20,640,000 for 2023, down from HK$32,640,000 for 2022, reflecting a reduction of approximately 36.5%[103]. - As of December 31, 2023, Chan Kenneth Chi Kin holds a 75% interest in the Company with 360,000,000 shares[195]. Market Conditions - The decline in revenue was primarily due to reduced contributions from packaging and paper gift set printing services, influenced by customers' concerns over global economic slowdown and inflation[17]. - The printing industry in Hong Kong continues to face challenges due to the uncertain economic climate, including geopolitical tensions and inflationary pressures[8]. - The Group is actively seeking further business development and advanced printing technology breakthroughs to maintain competitiveness in the printing industry[40].

Financial Performance - For the year ended June 30, 2023, the revenue decreased to HK$534.4 million, down 18.7% from HK$657.7 million in 2022[4] - Profit for the year attributable to owners of the Company dropped to HK$77.5 million, a decrease of 33.1% compared to HK$115.8 million in the previous year[9] - Basic earnings per share decreased to HK16.14 cents, down from HK24.12 cents in 2022, reflecting a decline of 33.2%[9] - The total dividend proposed for the year is HK6.5 cents, a reduction from HK8.6 cents in the previous year, indicating a decrease of 24.4%[9] - Gross profit decreased by approximately 17.3% from approximately HK$266.9 million to approximately HK$220.8 million for the same period[25] - Net profit reduced by approximately HK$38.3 million from HK$115.8 million to approximately HK$77.5 million, with a net profit margin decrease from approximately 17.6% to approximately 14.5%[26] - Revenue from packaging printing decreased by approximately 22.8% to approximately HK$177.7 million compared to approximately HK$230.3 million in 2022[36] - Revenue from paper gift set printing reduced by approximately 18.5% to approximately HK$297.7 million from approximately HK$365.2 million in the previous year[37] - Revenue from smart package printing dropped by approximately 16.5% to approximately HK$20.3 million, attributed to conservative customer spending[39] Assets and Liabilities - Total assets as of June 30, 2023, were HK$698.8 million, a slight decrease from HK$719.2 million in 2022[4] - Total liabilities decreased to HK$209.7 million from HK$251.9 million in the previous year, showing a reduction of 16.7%[4] - Net assets increased to approximately HK$489.1 million as at 30 June 2023, up from approximately HK$467.4 million as at 30 June 2022, primarily due to profits generated from operations[66] - Cash and bank balances amounted to approximately HK$305.9 million as at 30 June 2023, compared to approximately HK$237.4 million as at 30 June 2022, reflecting a significant increase in liquidity[68] - The current ratio improved to approximately 4.1 as at 30 June 2023, up from 3.1 as at 30 June 2022, indicating stronger short-term financial health[68] Operational Strategy - The Group plans to enhance overall production efficiency and maintain competitiveness amid ongoing market challenges[10] - The Company aims to explore opportunities in the environmentally friendly packaging market for sustainable growth[14] - Resources will be allocated to improve internal operation effectiveness and to adopt advanced printing technologies and innovative materials[14] - Employee training will continue to be a priority to support the Group's future development[15] - The Group is actively seeking further business development and advanced printing technology breakthroughs to enhance operational efficiency[48] - The management believes the Group is well-equipped to deal with forthcoming challenges and maintain sustainable growth[48] Corporate Governance - The company is committed to maintaining high standards of corporate governance practices and procedures[98] - The Board of Directors consists of 7 members, including 4 Executive Directors and 3 Independent Non-executive Directors[100] - The company has complied with all applicable code provisions in the Corporate Governance Code since June 30, 2022[99] - The Nomination Committee, primarily composed of Independent Non-executive Directors, is responsible for recommending candidates for directorship[107] - The company emphasizes accountability and transparency in its corporate governance principles[98] - The Board of Directors has a full attendance record at meetings, with all Executive Directors attending 5 out of 5 meetings since June 30, 2022[117] - The Company emphasizes the importance of internal control and risk management to protect its assets and shareholders' interests[135] - The Audit Committee reviews the effectiveness of the internal control system and assists the Board in maintaining it[138] - All Directors confirmed compliance with the required standards of dealings and the code of conduct regarding securities transactions since June 30, 2022[131] - The Company has adopted the Model Code for Securities Transactions by Directors as per the Listing Rules[130] Shareholder Communication - The Company aims to ensure shareholders are provided with timely information to engage actively and exercise their rights[194] - The Company emphasizes communication with shareholders through a Shareholders Communication Policy[194] - Shareholders were provided with at least 21 days' notice prior to the AGM[198] - Voting at the AGM was conducted by poll, with detailed procedures explained to ensure shareholder familiarity[198] - The results of the voting were published on the same day of the AGM on the company's and the stock exchange's websites[198] Audit and Financial Reporting - For the year ended June 30, 2023, the auditors received approximately HK$1,338,000 for audit services, an increase of 3.1% from HK$1,298,000 in 2022[147] - Non-audit services provided to the Group amounted to approximately HK$61,000, a slight decrease from HK$62,000 in 2022[147] - The Audit Committee reviewed the financial statements for the year ended June 30, 2023, focusing on business highlights and compliance with accounting standards[192] - The Audit Committee recommended the re-appointment of external auditors for the financial year ending June 30, 2024[188] Dividend Policy - The Directors recommended a final dividend of HK4.3 cents per share, leading to a total dividend of HK6.5 cents per share for the current year, down from HK8.6 cents in 2022[79] - The Company has a Dividend Policy allowing the declaration and distribution of dividends at the Board's discretion[189]

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佈之內容概不負責，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佈全部或任何部分內 容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 SUN HING PRINTING HOLDINGS LIMITED 新 興 印 刷 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1975） 截至二零二三年六月三十日止年度末期業績 新興印刷控股有限公司（「本公司」）董事會（「董事會」）欣然公佈，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年度之綜合業績如下： 綜合損益表 截至六月三十日止年度 二零二三年 二零二二年 附註 千港元 千港元 收益 3 534,445 657,726 銷售成本 (313,669) (390,822) 毛利 220,776 266,904 其他收入 3 12,163 3,596 政府補助 3 1,249 304 銷售及分銷開支 (7,788) (10,240) ...

Revenue Performance - The Group's revenue decreased by approximately 4.1% to approximately HK$344.3 million for the six months ended December 31, 2022, compared to the same period last year[14]. - Revenue for the six months ended December 31, 2022, decreased by approximately 4.1% to approximately HK$344.3 million compared to HK$358.9 million for the same period in 2021[44]. - For the six months ended 31 December 2022, the company's revenue was approximately HK$344.3 million, a decrease of 4.0% from HK$358.9 million in the same period of 2021[96]. - Revenue contribution from packaging printing services was approximately 56.2%, with a slight decrease of approximately 1.0% to HK$113.7 million[24][25]. - Revenue from packaging printing services was approximately HK$113.7 million, a decrease of about 1.0% year-on-year due to conservative consumer spending[26]. - Revenue from paper gift set printing decreased by approximately 3.0% to approximately HK$195.6 million, attributed to customers tightening their marketing budgets[29]. - Revenue from card printing increased by approximately 26.0% to approximately HK$27.1 million, driven by special promotion campaigns from overseas customers[30]. - Revenue from smart package printing decreased by approximately 67.4% to approximately HK$5.6 million, reflecting reduced orders due to conservative customer spending[34]. - Revenue from other printing services decreased by approximately 36.1% to approximately HK$2.3 million, primarily due to a decline in orders for plastic products[35]. - Revenue from Europe was HK$139,651,000, down 2.4% from HK$143,701,000 in 2021; revenue from the USA increased by 11.4% to HK$88,012,000 from HK$78,864,000[127]. - Revenue from Hong Kong decreased significantly by 51.8% to HK$48,088,000 from HK$99,715,000[127]. Profitability Metrics - Gross profit increased by approximately 11.4% from approximately HK$133.0 million to approximately HK$148.1 million for the same period[15]. - Gross profit margin improved from approximately 37.1% to approximately 43.0% for the six months ended December 31, 2022[16]. - Net profit for the period increased by approximately HK$15.2 million to approximately HK$66.1 million, with a net profit margin rising from approximately 14.2% to approximately 19.2%[16]. - Basic earnings per share rose to HK13.77 cents, compared to HK10.60 cents for the corresponding period in 2021[17]. - Profit before tax increased to approximately HK$84.7 million, up 27.5% from HK$66.4 million in the prior year[96]. - The company reported a profit for the period of approximately HK$66.1 million, an increase of 30.0% compared to HK$50.9 million in the same period of 2021[96]. - Total comprehensive income attributable to owners of the company decreased to HK$48,868,000, down 5.7% from HK$51,814,000 in the previous year[100]. - Profit for the period increased to HK$66,074,000, up 30.0% from HK$50,868,000 in the same period last year[100]. Cost Management - The Group is focused on improving cost efficiency and reducing redundancy costs associated with worker relocation[15]. - Administrative expenses remained stable at approximately HK$61.3 million for the six months ended December 31, 2022[47]. - Selling and distribution expenses decreased to approximately HK$4.6 million, down from approximately HK$5.0 million in the previous year, due to lower sales and redundancy costs[48]. - Direct labor costs for the six months ended 31 December 2022 were approximately HK$37.7 million, slightly up from HK$37.6 million in the same period of 2021[77]. Financial Position - Net assets increased to approximately HK$483.6 million as of December 31, 2022, from HK$467.4 million as of June 30, 2022, primarily due to operational profits[64]. - Cash and bank balances amounted to approximately HK$263.9 million as of December 31, 2022, up from approximately HK$237.4 million as of June 30, 2022[66]. - The current ratio improved to approximately 3.3 times as of December 31, 2022, compared to 3.1 times as of June 30, 2022[66]. - Trade receivables decreased to HK$58,646,000 from HK$79,682,000 as of June 30, 2022[102]. - Current assets decreased to HK$388,138,000 from HK$395,055,000 as of June 30, 2022[102]. - Total assets less current liabilities increased to HK$595,583,000 from HK$590,053,000 as of June 30, 2022[102]. - Cash and cash equivalents increased to HK$263,907,000 from HK$237,159,000 as of June 30, 2022[102]. - Trade payables as of December 31, 2022, totaled HK$21,636,000, down 31.5% from HK$31,563,000 on June 30, 2022[177]. Investment and Capital Expenditure - The group recorded over HK$37.4 million in capital expenditure during the period, mainly for automation and equipment upgrades[68]. - The company utilized approximately HK$80.6 million for equipment upgrades, HK$31.0 million for relocating the Shenzhen factory, and HK$8.3 million for general working capital from the net proceeds of HK$124.0 million from the IPO[86][92]. - The Group acquired property, plant, and equipment at a cost of HK$37,361,000, significantly higher than HK$6,111,000 in the same period last year[159]. Taxation and Finance Costs - Income tax expenses increased by approximately HK$3.0 million to about HK$18.6 million for the six months ended December 31, 2022, with effective tax rates remaining stable at 22.0%[58]. - Total tax charge for the period increased to HK$18,636,000, representing a 19.9% rise from HK$15,559,000 in the previous year[148]. - Finance costs rose to approximately HK$4.3 million for the six months ended December 31, 2022, from HK$1.7 million in the same period of 2021, primarily due to new lease liabilities for a factory[57]. - Interest on lease liabilities increased to HK$4,262,000 from HK$1,684,000, reflecting a significant rise in financing costs[138]. Future Outlook - The outlook for the interim period is challenging due to ongoing global economic concerns, including high inflation and geopolitical tensions[40]. - The printing industry in Hong Kong continues to face challenges from the unfavorable economic climate and geopolitical tensions[10]. Corporate Governance and Compliance - The Company is committed to maintaining transparency in accordance with the Listing Rules and has disclosed relevant interests of directors[200]. - The management's assessment of fair value is crucial for accurate financial reporting and compliance with regulatory requirements[198].

Financial Performance - For the year ended June 30, 2022, the Company reported a revenue of HK$657.7 million, a 73% increase from HK$380.1 million in 2021[7]. - Profit for the year attributable to owners of the Company reached a historical high of HK$115.8 million, up 48.7% from HK$77.8 million in the previous year[11]. - Basic earnings per share increased to HK24.12 cents, compared to HK16.22 cents in 2021, reflecting a growth of 48.5%[11]. - The Company proposed a total dividend of HK8.6 cents for the year, an increase from HK5.5 cents in the previous year, indicating a commitment to stable returns for shareholders[11]. - Total assets as of June 30, 2022, were HK$719.2 million, up from HK$490.2 million in 2021, representing a 46.7% increase[8]. - Total liabilities increased to HK$251.9 million from HK$104.9 million in 2021, marking a 140% rise[8]. - The Group's revenue increased by approximately 73.0% to approximately HK$657.7 million for the year ended 30 June 2022 compared to the previous year[25]. - Gross profit rose by approximately 76.2% from approximately HK$151.5 million for the year ended 30 June 2021 to approximately HK$266.9 million for the year ended 30 June 2022[25]. - Net profit for the year increased by approximately HK$38.0 million from approximately HK$77.8 million for the year ended 30 June 2021 to approximately HK$115.8 million for the year ended 30 June 2022[25]. - Administrative expenses increased to approximately HK$108.4 million from approximately HK$61.3 million, primarily due to redundancy costs and salary increments[43]. - Selling and distribution expenses rose to approximately HK$10.2 million from approximately HK$5.3 million, attributed to increased sales and redundancy costs[43]. Market Conditions and Challenges - The ongoing geopolitical tensions and COVID-19 pandemic are expected to keep the global economy volatile, impacting future market conditions[11]. - The printing industry in Hong Kong continues to face intense competition and challenges from the ongoing impact of the COVID-19 pandemic and geopolitical tensions[22]. - The business faces challenges from COVID-19, geopolitical tensions, and material supply uncertainties, impacting future operations[35]. Strategic Initiatives - The Group plans to enhance internal operation effectiveness and explore opportunities in the environmentally friendly packaging market for sustainable growth[13]. - The Company is actively looking into the latest printing technologies and advanced machinery to provide value-added services and differentiate from competitors[13]. - The Group focused on promoting smart package and sustainable products, enhancing value-added services for customers[25]. - The company is exploring opportunities to promote smart package and sustainable products to differentiate from competitors[36]. ESG Commitment and Reporting - The Group is committed to sustainable development, focusing on environmental protection, emission reduction, and community engagement[156]. - The Group's ESG report covers the period from July 1, 2021, to June 30, 2022, aligning with its financial year[155]. - The report includes new Scope 3 emissions data from downstream transportation and distribution starting from the Reporting Year[157]. - The Group aims to minimize environmental burden and prioritize environmental and social issues[160]. - The Group calculates ESG performance intensities per hundred thousand Hong Kong dollars of revenue to facilitate year-on-year comparisons[162]. - A materiality assessment was conducted to identify key ESG issues, involving surveys with internal and external stakeholders[169]. - The Group's commitment to ESG issues is reflected in its ongoing review and adaptation of strategies to align with stakeholder expectations and sustainable development goals[176][179]. - The Group aims to develop ESG objectives and targets that better meet stakeholder expectations[188]. Corporate Governance - The company reported a commitment to high standards of corporate governance, emphasizing accountability and transparency[65]. - The Board of Directors consists of 7 members, including 4 Executive Directors and 3 Independent Non-executive Directors, ensuring a balanced composition for effective management[67]. - The company has complied with all applicable code provisions in the Corporate Governance Code since June 30, 2021[66]. - The Audit Committee reviews the effectiveness of the internal control system and assists the Board in its responsibilities[103]. - The Company has adopted the Model Code for Securities Transactions by Directors to ensure compliance with trading standards[97]. Environmental Management - The Group has established a unique environmental management system based on ISO 14001 to manage waste gases, sewage, noise, and solid wastes[190]. - The company achieved its environmental targets for air pollutants during production, meeting the secondary emission standards and reducing VOCs through the use of environmentally friendly soybean ink[195]. - The company successfully recycled 100% of hazardous solid wastes, ensuring safe disposal through qualified third-party recycling companies[197]. - The company maintained compliance with the "Emission Standard for Industrial Enterprises Noise at Boundary," providing protective equipment and conducting regular noise inspections[199]. - The company reported zero leakage of dangerous materials/chemicals, adhering to hazardous goods management regulations and conducting annual spill drills[197]. Employee and Stakeholder Engagement - The Group emphasizes the importance of employee rights, compensation, and workplace safety in its stakeholder engagement[167]. - Occupational health and safety, along with employee training and development, are considered cornerstones of the Group's success, highlighting the importance of workforce welfare[175][178]. - The Group actively engages with stakeholders through various communication channels, including meetings, reports, and official websites[166].

Financial Performance - The Group's revenue increased by approximately 119.2% to approximately HK$358.9 million for the six months ended 31 December 2021 compared to the same period last year[24]. - Gross profit rose approximately 113.3% from approximately HK$62.3 million for the six months ended 31 December 2020 to approximately HK$133.0 million for the six months ended 31 December 2021[24]. - Net profit for the period increased by approximately HK$23.4 million from approximately HK$27.5 million for the six months ended 31 December 2020 to approximately HK$50.9 million for the six months ended 31 December 2021[25]. - Basic earnings per share was HK10.60 cents, compared to HK5.74 cents for the corresponding period in 2020[26]. - Profit for the period reached HK$50.9 million, up 84.6% from HK$27.5 million in the previous year[105]. - Profit before tax for the six months ended December 31, 2021, was HK$66,427,000, compared to HK$33,641,000 for the same period in 2020, representing a 97.5% increase[115]. - Total comprehensive income for the period was HK$51,814,000, which includes profits and exchange differences[113]. Revenue Breakdown - Revenue from packaging printing increased by approximately 10.8% to approximately HK$114.9 million for the six months ended 31 December 2021, driven by global economic growth and recovery in retail markets[35]. - Revenue from paper gift set printing surged approximately 580.5% to approximately HK$201.7 million for the six months ended 31 December 2021, due to the resumption of delayed projects and foreign customers returning production to the PRC[38]. - Revenue from card printing increased by approximately 24.1% to approximately HK$21.5 million for the six months ended 31 December 2021, attributed to the launch of new board and card game projects[39]. - Revenue from smart package printing rose approximately 72.5% to approximately HK$17.2 million for the six months ended 31 December 2021, as retail customers organized promotional sales[41]. - Revenue from other printing services increased by approximately 15.4% to approximately HK$3.6 million for the six months ended 31 December 2021, due to higher demand for these services[42]. - Revenue from Europe reached HK$143,701,000, up from HK$41,990,000, indicating a growth of 242% year-over-year[128]. - Revenue from the People's Republic of China (PRC) surged to HK$78,864,000, compared to HK$6,332,000 in the previous year, marking an increase of 1,150%[128]. Cost and Expenses - Administrative expenses increased to approximately HK$60.1 million for the six months ended 31 December 2021 from approximately HK$29.4 million for the same period in 2020[52]. - Selling and distribution expenses rose to approximately HK$5.0 million for the six months ended 31 December 2021 from approximately HK$2.9 million for the same period in 2020[53]. - Direct labor costs increased to approximately HK$37.6 million for the six months ended December 31, 2021, compared to approximately HK$14.4 million for the same period in 2020, due to hiring more temporary workers[82]. - A provision for redundancy costs of approximately HK$16.2 million was recorded for the period ended December 31, 2021, while no such provision was made for the same period in 2020[82]. Assets and Liabilities - As of 31 December 2021, net assets amounted to approximately HK$417.9 million, an increase from approximately HK$385.3 million as of 30 June 2021[69]. - Cash and bank balances amounted to approximately HK$227.1 million as of 31 December 2021, up from approximately HK$204.4 million as of 30 June 2021[71]. - Total non-current assets increased to HK$290,039,000 as of December 31, 2021, compared to HK$131,788,000 on June 30, 2021, reflecting a significant growth[108]. - Current assets totaled HK$395,543,000, up from HK$358,420,000, indicating a rise of approximately 10.4%[108]. - Non-current liabilities increased to HK$132,107,000 from HK$88,000, indicating a rise of approximately 50.2%[108]. - Trade receivables increased to HK$106,060,000 as of 31 December 2021, up from HK$81,930,000 as of 30 June 2021, reflecting a 29.5% increase[167]. Challenges and Strategies - The Group's operations have been challenged by logistical delays, labor shortages, and supply chain disruptions due to the COVID-19 pandemic[20]. - The Group is focused on enhancing cost efficiency to improve profitability amidst ongoing market challenges[24]. - The interim period 2021/2022 is expected to be challenging due to COVID-19 impacts and trade tensions between the USA and China[45]. - The Group is accelerating machine automation and seeking advanced printing technologies to enhance competitiveness in an uncertain business environment[46]. - The Group is exploring opportunities to promote smart package and sustainable products to differentiate from competitors[46]. Dividends and Shareholder Information - The directors recommended an interim dividend of HK1.8 cents per share, up from HK1.5 cents in 2020, expected to be distributed on March 18, 2022[83]. - The Company declared a final dividend of HK$19,200,000 for the year 2021[113]. - The Company holds a long position of 360,000,000 shares, representing approximately 75% of the total issued share capital of its controlled corporation[197]. - The Company and its associated corporations are actively disclosing interests in accordance with listing rules, ensuring transparency in shareholdings[199].

Financial Performance - For the year ended 30 June 2021, the Group's revenue increased to HK$380.1 million, up 21.8% from HK$311.8 million in 2020[5] - Profit for the year attributable to owners of the Company reached a historical high of HK$77.8 million, representing a 73.5% increase from HK$44.9 million in the previous year[10] - Basic earnings per share rose to HK16.22 cents, compared to HK9.34 cents in 2020, marking an increase of 73.5%[10] - The Group's total assets as of 30 June 2021 amounted to HK$490.2 million, a 19.3% increase from HK$410.8 million in 2020[5] - Total liabilities increased to HK$104.9 million, up 19.6% from HK$87.7 million in the previous year[5] - The equity attributable to owners of the Company rose to HK$385.3 million, an increase of 19.3% from HK$323.1 million in 2020[5] - The Group's revenue increased by approximately 21.9% to approximately HK$380.1 million for the year ended 30 June 2021 compared to the previous year[21] - Gross profit rose by approximately 32.1% from approximately HK$114.7 million for the year ended 30 June 2020 to approximately HK$151.5 million for the year ended 30 June 2021[21] - Gross profit margin increased from approximately 36.8% during the year ended 30 June 2020 to approximately 39.9% during the year ended 30 June 2021[22] - Profit for the year increased by approximately HK$32.9 million from approximately HK$44.9 million for the year ended 30 June 2020 to approximately HK$77.8 million for the year ended 30 June 2021[22] - Net profit margin increased from approximately 14.4% for the year ended 30 June 2020 to approximately 20.5% for the year ended 30 June 2021[22] Revenue Breakdown - Revenue from packaging printing services increased by approximately 5.5% to approximately HK$199.8 million for the year ended 30 June 2021, compared to approximately HK$189.3 million for the year ended 30 June 2020[30] - Revenue from paper gift set printing increased by approximately 90.6% to approximately HK$119.6 million for the year ended 30 June 2021, compared to approximately HK$62.7 million for the year ended 30 June 2020[30] - Revenue from card printing increased by approximately 15.4% to approximately HK$39.2 million for the year ended 30 June 2021[30] - Revenue from smart package printing decreased by approximately 16.2% to approximately HK$12.0 million for the year ended 30 June 2021[30] - Revenue from other printing services decreased by approximately 17.0% to approximately HK$9.5 million for the year ended 30 June 2021[30] Cost Control and Efficiency - The Group will continue to maintain stringent cost control measures to enhance overall production efficiency and market competitiveness[10] - The Group adopted stringent cost control measures contributing to the increase in gross profit and net profit margins[22] - The Group has implemented stringent cost control measures to enhance market competitiveness[33] Dividends - The Company proposed a final dividend of HK4.0 cents, up from HK3.5 cents in the previous year, resulting in a total proposed dividend of HK5.5 cents for the year[10] - The proposed final dividend is HK4.0 cents per share, with a total dividend of HK5.5 cents per share for the current year, up from HK4.5 cents in 2020[50][50]. Corporate Governance - The company is committed to maintaining high standards of corporate governance practices and procedures, emphasizing accountability and transparency[70] - The Board of Directors consists of 7 members, including 4 Executive Directors and 3 Independent Non-executive Directors, ensuring a balanced composition for effective management[72] - The company has complied with all applicable code provisions in the Corporate Governance Code since June 30, 2020[71] - The Nomination Committee, primarily composed of Independent Non-executive Directors, is responsible for recommending candidates for directorship[80] - All Independent Non-executive Directors have confirmed their independence according to the guidelines set out in the Listing Rules[80] - The company has established a regular schedule for board meetings, which can be increased as necessary[80] - The company secretary is responsible for preparing the agenda for board meetings, ensuring all directors are properly briefed[80] - The company maintains a Director's & Officer's Liability Insurance as part of its best practices[80] - The company strives to continuously improve corporate governance practices and cultivate an ethical corporate culture[70] ESG Commitment - The Group emphasizes its commitment to sustainable development and outlines management policies related to environmental protection, emission reduction, and community engagement[164] - The Group's ESG report covers the period from July 1, 2020, to June 30, 2021, focusing on its major operations in the People's Republic of China[163] - The report complies with the "Environmental, Social and Governance Reporting Guide" of the Stock Exchange of Hong Kong Limited, summarizing the Group's ESG performance during the reporting year[164] - The Group aims to minimize environmental burden and prioritize environmental and social issues[169] - The Group has established an ESG management framework with clear responsibilities to ensure effective implementation of ESG governance policies[175] - The Group supports local communities through environmental protection and community contributions[174] - The Group achieved its environmental targets for 2021, including compliance with Guangdong Province's emission standards for air pollutants and sewage, with all targets met[197] - 100% of hazardous and non-hazardous solid wastes were safely recycled, with hazardous wastes managed by qualified third-party recycling companies[197] - The Group implemented measures to reduce VOC emissions by using environmentally friendly soybean ink and water-based oil, achieving the target for air pollutants during production[197] - The Group's wastewater from production is uniformly recycled and treated by a qualified third-party recycling company, meeting the discharge limits for water pollutants[197] - The Group adheres to a comprehensive internal environmental management system to monitor and manage pollutants generated from operations[189] - There were no material non-compliance issues with environmental laws and regulations during the reporting year[190] - The Group's sustainability efforts align with China's national goals for carbon neutrality by 2060 and peak carbon emissions by 2030[188] Future Plans and Challenges - The Group plans to enhance internal operation effectiveness and explore opportunities in new markets, particularly in environmentally friendly packaging[12] - The Group anticipates challenges due to COVID-19, trade tensions, and environmental regulations impacting future operations[32] - The Group is exploring opportunities to promote smart package and sustainable products to differentiate from competitors[33]

Financial Performance - The Group's revenue decreased by approximately 8.1% to approximately HK$163.7 million for the six months ended 31 December 2020 compared to the same period last year[12]. - Gross profit decreased by approximately 5.9% from approximately HK$66.3 million to approximately HK$62.3 million for the same period[12]. - Despite the decrease in sales, the gross profit margin increased from approximately 37.2% to approximately 38.1% for the six months ended 31 December 2020[13]. - Profit for the period decreased slightly by approximately HK$0.5 million from approximately HK$28.0 million to approximately HK$27.5 million[13]. - The net profit margin increased from approximately 15.7% to approximately 16.8% for the six months ended 31 December 2020[13]. - Basic earnings per share was HK5.74 cents, compared to HK5.84 cents for the corresponding period in 2019[14]. - Revenue for the six months ended December 31, 2020, was HK$163,739,000, a decrease of 8.1% from HK$178,190,000 in 2019[79]. - Gross profit for the same period was HK$62,348,000, down from HK$66,265,000, reflecting a gross margin of 38.1%[79]. - Profit before tax was HK$33,641,000, slightly down from HK$33,681,000, resulting in a profit margin of 20.5%[79]. - Profit for the period was HK$27,530,000, compared to HK$28,017,000 in 2019, indicating a decrease of 1.7%[81]. Revenue Breakdown - Revenue from packaging printing decreased by approximately 6.4% to approximately HK$103.6 million, primarily due to the impact of the COVID-19 pandemic on global retail markets[23]. - Revenue from paper gift set printing increased by approximately 12.1% to approximately HK$29.6 million, benefiting from product cycles and promotional sales[27]. - Revenue from card printing decreased by approximately 28.1% to approximately HK$17.4 million, mainly due to the ongoing effects of the COVID-19 pandemic and postponed product launches[28]. - Revenue from smart package printing decreased by approximately 24.2% to approximately HK$10.0 million, attributed to reduced customer orders during the pandemic[29]. - Revenue from other printing services decreased by approximately 16.2% to approximately HK$3.1 million, influenced by increased environmental awareness among retail customers[34]. - Revenue from Hong Kong decreased to HK$95,045,000, down 12.7% from HK$108,819,000 in 2019[140]. - Revenue from Europe increased significantly to HK$41,990,000, up 295.5% from HK$10,632,000 in 2019[140]. Economic Environment - The printing industry in Hong Kong is facing intense competition due to the unstable economic environment and the COVID-19 pandemic[11]. - Customers have frozen or reduced budgets for new projects until the pandemic is under control[12]. - The Sino-US trade tension continues to threaten customers' willingness to spend on printing and promotion[11]. - The interim period 2020/2021 is expected to be challenging due to the ongoing COVID-19 pandemic and trade tensions between the USA and China[35]. Expenses and Income - Administrative expenses remained stable at approximately HK$29.4 million and HK$30.8 million for the six months ended December 31, 2020, and 2019, respectively[47]. - Selling and distribution expenses decreased from approximately HK$3.1 million to approximately HK$2.9 million due to a drop in sales during the current period[48]. - Other operating expenses were approximately HK$0.1 million for the six months ended December 31, 2020, compared to other operating income of approximately HK$0.3 million for the same period in 2019[51]. - Other income decreased from approximately HK$1.8 million to approximately HK$1.6 million, mainly due to a drop in interest income from time deposits[51]. - Government grants increased to approximately HK$2.6 million for the six months ended December 31, 2020, while there were no such grants in the same period of 2019[51]. - Income tax expenses rose by approximately HK$0.4 million from approximately HK$5.7 million to approximately HK$6.1 million for the six months ended December 31, 2020[51]. Assets and Liquidity - As of December 31, 2020, the Group's net assets amounted to approximately HK$341.2 million, an increase from approximately HK$323.1 million as of June 30, 2020, representing a growth of about 5.4%[10]. - The Group's cash and cash equivalents were approximately HK$208.9 million as of December 31, 2020, compared to approximately HK$204.1 million as of June 30, 2020, indicating a slight increase of about 3.9%[10]. - The current ratio remained stable at approximately 3.9 times as of December 31, 2020, compared to 3.7 times as of June 30, 2020, reflecting strong liquidity management[10]. - The Group had approximately HK$179.7 million in fixed time deposits with maturities within 12 months, enhancing its short-term liquidity position[10]. - Cash and cash equivalents at the end of the period were HK$208,881,000, compared to HK$209,929,000 at the end of the previous year[124]. - The Group's cash and bank balances included time deposits of HK$179,673,000 as of December 31, 2020, down from HK$186,275,000 as of June 30, 2020[187]. Capital Expenditure and Investments - The Group recorded over HK$2.0 million in capital expenditure during the period, primarily allocated for automation and equipment upgrades[10]. - Up to the date of the report, the Group had utilized approximately HK$44.1 million for equipment upgrades, approximately HK$8.3 million for general working capital, and approximately HK$0.7 million for ERP system consultation[61]. - The Group has utilized approximately HK$44.1 million for the purchase of printing machines to enhance overall production efficiency, with full utilization expected by 31 December 2022[68]. - The upgrade of the ERP system has seen HK$0.5 million utilized so far, with full utilization expected by 31 December 2022[68]. - The total planned applications of proceeds amount to HK$124 million, with HK$53.1 million utilized up to the date of the report[68]. - The Group's unlisted fund investment was valued at HK$10,030,000 as of December 31, 2020, slightly down from HK$10,039,000 as of June 30, 2020[174]. Dividends - The Directors recommended an interim dividend of HK1.5 cents per share, an increase from HK1 cent per share in 2019, representing a 50% increase[57]. - The Group's final dividend proposed for the year ended June 30, 2020, was HK3.5 cents per share, an increase from HK2.5 cents in 2019, totaling HK$16,800,000 compared to HK$12,000,000 in the previous year[171]. - An interim dividend of HK1.5 cents per ordinary share was declared for the six months ended December 31, 2020, compared to HK1 cent for the same period in 2019[172]. Trade Receivables and Payables - Trade receivables as of December 31, 2020, amounted to HK$58,621,000, a decrease of 5.66% from HK$61,922,000 as of June 30, 2020[181]. - The ageing analysis of trade receivables showed that HK$26,977,000 was within one month, while HK$1,594,000 was overdue by more than three months as of December 31, 2020[183]. - Trade payables as of December 31, 2020, totaled HK$16,003,000, slightly up from HK$15,950,000 as of June 30, 2020[193]. - Within one month, trade payables were HK$9,513,000 as of December 31, 2020, down from HK$9,796,000 as of June 30, 2020[193]. - The Group's trade payables are non-interest-bearing and are typically settled within three months[193].