Financial Performance - For the six months ended June 30, 2022, the company reported revenue of HKD 125,612,000, an increase of 11.0% compared to HKD 113,116,000 for the same period in 2021[7]. - Gross profit for the same period was HKD 40,808,000, representing a 31.8% increase from HKD 30,956,000 in 2021, with a gross margin of 32.5%[7]. - The company achieved a profit attributable to equity shareholders of HKD 8,587,000, a significant turnaround from a loss of HKD 4,148,000 in the previous year, marking a 307.0% improvement[7]. - Revenue for the six months ended June 30, 2022, was HKD 125,612,000, an increase of 11.1% from HKD 113,116,000 in the same period of 2021[71]. - The company reported a profit before tax of HKD 10,770,000, compared to a loss of HKD 3,455,000 in the previous year[71]. - Net profit attributable to equity shareholders was HKD 8,587,000, a significant recovery from a loss of HKD 4,148,000 in the prior period[71]. - Basic and diluted earnings per share for the period were HKD 1.8, compared to a loss of HKD 0.9 per share in the same period last year[71]. - Reported segment profit for the six months ended June 30, 2022, was HKD 10,583,000, an increase of 33% from HKD 7,962,000 in the same period of 2021[104]. Revenue Breakdown - Revenue from zipper products accounted for 98.0% of total sales, with HKD 123,042,000 generated from zipper and slider sales[16]. - Domestic sales in mainland China represented 86.6% of total revenue, amounting to HKD 108,821,000, while overseas sales contributed 13.4% with HKD 16,791,000[16]. - The revenue from external customers for the mainland China segment was HKD 108,821,000, while the overseas segment generated HKD 16,791,000, contributing to a total of HKD 125,612,000 from external customers[100]. Expenses and Costs - Distribution costs decreased by approximately 18.2% from about HKD 7,670,000 for the six months ended June 30, 2021, to about HKD 6,270,000 for the same period in 2022, primarily due to the suspension of large events during the COVID-19 pandemic[20]. - Administrative expenses increased by approximately 23.8% from about HKD 24,180,000 for the six months ended June 30, 2021, to about HKD 29,950,000 for the same period in 2022, mainly due to rising R&D costs for product quality improvement and information technology development[20]. - Employee costs for the six months ended June 30, 2022, were approximately HKD 49,980,000, down from HKD 52,040,000 for the same period in 2021, primarily due to a reduction in workforce[43]. - The group incurred depreciation and amortization expenses totaling HKD 17,084,000, down from HKD 18,422,000 in the same period last year[112]. Cash Flow and Assets - Cash and cash equivalents decreased by 31.6% to HKD 40,923,000 from HKD 59,870,000 in the previous year[7]. - The net cash outflow from operating activities for the six months ended June 30, 2022, was approximately HKD 12,070,000, compared to HKD 1,350,000 for the same period in 2021, primarily due to an increase in trade receivables[34]. - The net cash outflow from investing activities for the six months ended June 30, 2022, was approximately HKD 4,310,000, a decrease from HKD 12,700,000 for the same period in 2021, mainly due to payments for the purchase of properties, plants, and equipment[34]. - As of June 30, 2022, cash and cash equivalents amounted to approximately HKD 40,920,000, a decrease of about HKD 18,950,000 compared to December 31, 2021, primarily due to increased payments for property, plant, and equipment, as well as rent[35]. - The total assets of the company as of June 30, 2022, were HKD 292,918,000, reflecting a 6.2% increase from HKD 275,779,000 at the end of 2021[7]. - The group's current assets amounted to approximately HKD 154,910,000, with major components including inventory of about HKD 33,920,000 and trade receivables of approximately HKD 80,070,000[38]. Shareholder Information - Major shareholders included China Sun with 28.77% and Central Eagle with 28.16% of the issued share capital as of June 30, 2022[58]. - The company completed a placement of 92,960,800 shares at HKD 0.75 per share on July 12, 2022[48]. - The company’s major shareholder, China Huarong Asset Management Co., Ltd., held approximately 46.48% of the issued share capital as of June 30, 2022[87]. Corporate Governance and Compliance - The company maintained strict corporate governance practices and complied with all relevant codes, except for some independent directors' absence due to COVID-19[67]. - The company’s interim financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, with no significant impact from the new or revised standards effective from January 1, 2022[92]. Future Outlook and Strategy - The company plans to enhance product competitiveness and customer satisfaction by increasing new product development efforts[13]. - The company aims to integrate and expand production capacity while improving production automation and product quality[13]. - The company maintains a conservative outlook on the consumer market and the apparel industry due to ongoing economic pressures and rising costs[11].

Financial Performance - For the year ended December 31, 2021, the company reported revenue of HKD 239.7 million, an increase of 40.9% from HKD 170.1 million in 2020[11] - The gross profit margin improved to 30.0% in 2021, up from 20.1% in 2020[8] - The company recorded a net loss attributable to equity shareholders of HKD 17.5 million for 2021, compared to a loss of HKD 46.9 million in 2020, representing a 62.7% reduction in losses[11] - The company's loss attributable to equity shareholders was approximately HKD 17.5 million in 2021, a reduction of about 62.7% from HKD 46.91 million in 2020[39] - The pre-tax loss for the year ended December 31, 2021, was approximately HKD 16.94 million, a decrease of about HKD 36.95 million compared to a loss of HKD 53.89 million in 2020[24] Assets and Liabilities - Total assets decreased to HKD 275.8 million in 2021 from HKD 290.7 million in 2020, a decline of 5.0%[8] - Current liabilities increased from HKD 71,247,000 in 2020 to HKD 76,026,000 in 2021, an increase of 6.9%[15] - The net asset value decreased from HKD 173,041,000 in 2020 to HKD 164,766,000 in 2021, a decrease of 4.7%[15] - Non-current assets decreased from HKD 152,018,000 in 2020 to HKD 133,109,000 in 2021, a reduction of 12.5%[13] - Total assets decreased from HKD 290,702,000 in 2020 to HKD 275,779,000 in 2021, a decline of 5.1%[13] Cash Flow and Liquidity - Cash and cash equivalents stood at HKD 59.9 million, slightly down from HKD 60.9 million in 2020[8] - The net cash inflow from operating activities for 2021 was approximately HKD 35.59 million, compared to HKD 18.67 million in 2020, representing an increase of 90.5%[52] - The current ratio remained stable at 1.9 in both 2021 and 2020, indicating consistent liquidity[8] - The adjusted net debt to equity ratio was maintained below 20%, with the ratio at approximately 1.9% as of December 31, 2020, and no calculation for 2021 due to total debt being lower than cash and cash equivalents[54] Operational Efficiency - The company aims to enhance its operational efficiency and reduce administrative expenses moving forward[11] - The inventory turnover days improved to 62 days in 2021 from 82 days in 2020, indicating better inventory management[8] - Administrative expenses increased to approximately HKD 64.14 million in 2021, accounting for about 26.8% of total revenue, down from 31.9% in 2020[37] - The company aims to integrate and expand production capacity, improve automation, and enhance product quality to control costs and shorten delivery times[77] Business Strategy and Growth - The company plans to focus on market expansion and new product development in the upcoming fiscal year[11] - The company is exploring new business and investment opportunities to enhance profitability and maximize shareholder value[19] - The management is optimistic about future growth and is focusing on diversifying the business portfolio[19] - The company plans to enhance product competitiveness and customer satisfaction by increasing new product development efforts in response to market demands[77] Environmental Responsibility - The company is committed to maintaining a sustainable development culture amidst economic, ecological, technological, and social challenges[145] - The company reported a total carbon emission of 15,977 tons, with a density of 66.66 tons per HKD 1 million revenue[154] - The company generated 190,782 tons of wastewater, resulting in a density of 795.92 tons per HKD 1 million revenue[154] - The company consumed 13,613,094 kWh of electricity in its factories, with a density of 56,792.22 kWh per HKD 1 million revenue[157] - The company has implemented various environmental management policies in accordance with ISO standards, aiming to reduce waste and energy consumption[147] Employee Management - The total number of full-time employees at the company is 676, with a turnover rate of approximately 34% in 2021, which is a decrease of 38% compared to the fiscal year 2020 and a decline of 114% compared to fiscal year 2019[170][172] - Employee costs for 2021 were approximately HKD 109.8 million, an increase from HKD 78.7 million in 2020, primarily due to the recovery of operations post-COVID-19 and increased performance bonuses[64] - The company has implemented a comprehensive health and safety policy, adhering to relevant laws such as the Labor Law and the Occupational Disease Prevention Law of the People's Republic of China[175] - The company has established a 5S management system in its factories to ensure a safe working environment, providing employees with necessary protective equipment and conducting regular safety inspections[176] Governance and Compliance - The company appointed Mr. Ye Zhaolin as Chairman and Executive Director on March 23, 2022, following the resignation of Mr. Zhuang Weidong on March 4, 2022[90] - The Audit Committee, consisting of three independent non-executive directors, held three meetings to review the financial performance and compliance procedures for the year ending December 31, 2021[105] - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of its affairs[101] - The company ensures that all directors receive appropriate training and continuous professional development to fulfill their responsibilities[100] Customer Satisfaction and Quality Control - The company has established a comprehensive quality management system, achieving certifications such as ISO 9001 and OEKO-TEX® STANDARD 100[193] - In 2021, the company received no customer complaints regarding product quality, a significant improvement from 49 complaints in 2020[194] - The company has established a customer complaint mechanism to address and resolve issues promptly, ensuring customer satisfaction[194]

China Apex Group Limited 中 國 恒 泰 集 團 有 限 公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 2011) China Apex Group Limited 中 國 恒 泰 集 團 有 限 公司 (於開曼群島註冊成立的有限公司) (股份代碼: 2011) 中期報告 目錄 2 公司資料 4 財務概要 5 管理層討論及分析 14 權益披露 19 企業管治及其他資料 20 簡明綜合損益表 21 簡明綜合損益及其他全面收益表 22 簡明綜合財務狀況表 24 簡明綜合權益變動表 26 簡明綜合現金流量表 27 未經審核中期財務報告附註 41 詞彙 公司資料 董事 執行董事 莊衛東先生（主席） 邱傳智先生（總裁） 吳航正先生（副主席） 麥融斌先生（副總裁） 非執行董事 林萍女士 獨立非執行董事 梁家鈿先生 鄭康棋先生 劉懷鏡先生 鄭康棋先生（委員會主席） 梁家鈿先生 劉懷鏡先生 審核委員會 薪酬委員會 鄭康棋先生（委員會主席） 梁家鈿先生 劉懷鏡先生 公司秘書 邱智超先生 註冊辦事處 ...

China Apex Group Limited 中 國 恒 泰 集 團 有 限 公司 (於開曼群島註冊成立的有限公司) (股份代碼: 2011) China Apex Group Limited 中 國 恒 泰 集 團 有 限 公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 2011) 年報 目錄 02 公司資料 03 財務概要 08 主席報告 22 企業管治報告 33 環境、社會及管治報告 44 董事及高級管理層履歷 47 董事會報告書 56 獨立核數師報告 61 綜合損益表 62 綜合損益及其他全面收益表 63 綜合財務狀況表 65 綜合權益變動表 66 綜合現金流量表 68 綜合財務報表附註 132 詞彙 09 管理層討論及分析 公司資料 董事 執行董事 莊衛東先生（主席） 邱傳智先生（總裁） 吳航正先生（副主席） 麥融斌先生（副總裁） 非執行董事 林萍女士 獨立非執行董事 梁家鈿先生 鄭康棋先生 劉懷鏡先生 審核委員會 鄭康棋先生（委員會主席） 梁家鈿先生 劉懷鏡先生 提名委員會 莊衛東先生（委員 ...

China Apex Group Limited 中 國 恒 泰 集 團 有 限 公司 (於開曼群島註冊成立的有限公司) (股份代碼: 2011) 2020 中期報告 綜合損益表 | --- | --- | --- | --- | --- | --- | --- | |-------|---------------------------|-----------------------------------------------------------------------------------|----------|----------|------------------------------------------------|---------------------------| | | | | | | | | | 截至 | | 12 月 31 日止年度 | | | | | | 2. | | 採納香港財務報告準則（「香港財務報告準則」）（續） | | | | | | | | | –2019 | 1 1 | | | | | 16 | 採納新訂╱經修訂香港財務報告準則 香港財務報告準則第 號－ ...

China Apex Group Limited 中 國 恒 泰 集 團 有 限 公司 (前稱開易控股有限公司) (於開曼群島註冊成立的有限公司) (股份代碼: 2011) 2019 年報 目錄 02 公司資料 03 財務概要 08 主席報告 21 企業管治報告 71 綜合財務報表附註 134 詞彙 09 管理層討論及分析 32 環境、社會及管治報告 44 董事及高級管理層履歷 47 董事會報告書 57 獨立核數師報告 64 綜合損益表 65 綜合損益及其他全面收益表 66 綜合財務狀況表 68 綜合權益變動表 69 綜合現金流量表 C019970 公司資料 董事 執行董事 莊衛東先生（主席）（於2019年11月19日獲委任） 邱傳智先生（總裁）（於2019年11月19日獲委任） 吳航正先生（副主席） （於2019年11月19日辭任行政總裁 及由主席調任為副主席） 麥融斌先生（副總裁）（於2019年11月19日獲委任） 邱智超先生（於2019年11月19日辭任） 非執行董事 林萍女士（於2019年11月19日獲委任） 獨立非執行董事 梁家鈿先生 鄭康棋先生（於2019年11月19日獲委任） 劉懷鏡先生（於20 ...

Financial Performance - For the six months ended June 30, 2019, the company's revenue was approximately HKD 117,469,000, representing a 5.3% increase compared to HKD 111,556,000 for the same period in 2018[8]. - The gross profit for the same period was HKD 38,957,000, a decrease of 5.5% from HKD 41,207,000 in 2018, resulting in a gross margin of 33.2%, down from 36.9%[8]. - The net profit attributable to equity shareholders for the six months was HKD 4,913,000, a significant decline of 62.6% from HKD 13,137,000 in the previous year[8]. - Total revenue for the first half of 2019 was approximately HKD 117,469,000, an increase from HKD 111,556,000 in 2018, representing a growth of 5.4%[19]. - Gross profit for the first half of 2019 was HKD 38,957,000, down from HKD 41,207,000 in 2018, indicating a decrease of 5.4%[21]. - The company's profit before tax decreased significantly to HKD 8,812,000, a decline of 55.7% compared to HKD 19,908,000 in the previous year[75]. - Net profit for the period was HKD 6,346,000, representing a decrease of 59.9% from HKD 15,819,000 in the prior year[75]. - Basic and diluted earnings per share for the company were HKD 1.1, down from HKD 2.8 in the same period last year[75]. - Total comprehensive income for the period was HKD 8,452,000, compared to HKD 12,610,000 in the previous year, reflecting a decrease of 32.5%[77]. Assets and Liabilities - The company's total assets increased by 24.5% to HKD 411,279,000 as of June 30, 2019, compared to HKD 330,454,000 at the end of 2018[8]. - Cash and cash equivalents decreased by 43.6% to HKD 44,287,000 from HKD 78,587,000 in the previous year[8]. - The company's total liabilities to total assets ratio was 27.9% as of June 30, 2019, compared to 12.9% on December 31, 2018, indicating a significant increase in leverage[42]. - The company recorded current assets of approximately HKD 262,280,000 as of June 30, 2019, with a current asset net value of about HKD 194,750,000[43]. - The company reported a net cash outflow from operating activities of approximately HKD 13,280,000 for the six months ending June 30, 2019, an increase from HKD 11,030,000 for the same period in 2018[39]. - The company’s inventory rose to HKD 30,710 thousand from HKD 24,549 thousand, representing a 24.5% increase[79]. - Trade receivables and notes receivable, net of impairment provisions, increased to HKD 75,521,000 as of June 30, 2019, compared to HKD 39,575,000 as of December 31, 2018, representing an increase of 90.5%[11]. Expenses and Costs - Distribution costs rose by 3.4% to approximately HKD 7,370,000 in the first half of 2019, up from HKD 7,130,000 in 2018, consistent with sales growth[22]. - Administrative expenses increased by 23.6% to approximately HKD 26,310,000 in the first half of 2019, compared to HKD 21,290,000 in 2018, primarily due to increased salaries and benefits related to the establishment of a new subsidiary[22]. - The company incurred employee costs of HKD 46,862,000 for the six months ended June 30, 2019, compared to HKD 42,260,000 in the same period of 2018, reflecting an increase of 10.5%[135]. - The company reported a depreciation and amortization expense of HKD 13,931,000 for the six months ended June 30, 2019, compared to HKD 4,681,000 in the same period of 2018, indicating a significant increase[138]. Strategic Initiatives - The company aims to enhance brand image and value, increase market development, and invest in product innovation to improve customer satisfaction[13]. - The company is actively seeking new investment and business opportunities to diversify its existing operations[12]. - The company plans to optimize resource allocation and improve operational efficiency to meet customer demands and increase market share[14]. - The company plans to expand its operations following the acquisition of 70.16% of its shares for a total consideration of HKD 546,852,259.20[50]. Ownership Structure - As of June 30, 2019, the major shareholder, Crocodile Trade Limited, holds 326,089,600 shares, representing approximately 70.16% of the company's equity[53]. - Beijing Zhonghong Hongyi Investment Limited also holds 326,089,600 shares, equivalent to 70.16% of the equity, indicating significant control by related companies[55]. - The ownership structure includes various controlled companies, highlighting a complex network of interests among shareholders[60]. - The significant percentage of shares held by a few entities may impact corporate governance and decision-making processes[60]. Compliance and Governance - The company has maintained compliance with all provisions of the corporate governance code, except for the dual role of the chairman and CEO[69]. - The report indicates no additional disclosures of interests or short positions by directors or key executives as of June 30, 2019[62].

Financial Performance - KEE Holdings reported a revenue of HKD 197.53 million for 2018, an increase from HKD 184.73 million in 2017, representing a growth of approximately 9.7%[10] - The gross profit margin improved to 32.4% in 2018, up from 31.2% in 2017, indicating better cost management and pricing strategies[10] - The net profit margin for 2018 was -16.8%, an improvement from -24.4% in 2017, reflecting a reduction in losses[10] - Total revenue for the year ended December 31, 2018, was HKD 197,532,000, an increase of 6.9% from HKD 184,732,000 in 2017[22] - Gross profit for 2018 was HKD 63,919,000, up 10.3% from HKD 57,704,000 in 2017[22] - The net loss from continuing operations for 2018 was HKD 29,946,000, compared to a loss of HKD 13,762,000 in 2017[22] - The loss for the year ended December 31, 2018, was approximately HKD 29.95 million, influenced by a profit of HKD 12.3 million from the zipper business and a loss of HKD 45 million from other receivables[36] - The loss attributable to equity shareholders for 2018 was approximately HKD 33,180,000, a 26.5% reduction compared to HKD 45,130,000 in 2017[54] Assets and Liabilities - Total assets decreased to HKD 330.45 million in 2018 from HKD 405.76 million in 2016, showing a decline of approximately 18.5% over two years[10] - The company's total equity attributable to shareholders was HKD 264.73 million in 2018, down from HKD 314.08 million in 2017, a decrease of about 15.7%[10] - Non-current assets decreased to HKD 83,397,000 in 2018 from HKD 168,051,000 in 2017, reflecting a significant reduction[27] - Current assets increased to HKD 247,057,000 in 2018, up from HKD 212,129,000 in 2017, indicating improved liquidity[27] - Total liabilities decreased to HKD 42,153,000 in 2018 from HKD 86,347,000 in 2017, indicating a reduction in financial obligations[28] Operational Efficiency - The current ratio improved to 6.0 in 2018, compared to 5.0 in 2017, indicating better short-term financial health[10] - The company reported a significant increase in inventory turnover days, which rose to 66 days in 2018 from 62 days in 2017, suggesting a slower inventory movement[10] - KEE Holdings' operating profit margin was -14.6% in 2018, worsening from -4.5% in 2017, indicating challenges in operational efficiency[10] - The average trade receivables turnover days improved from 77 days in 2017 to 74 days in 2018[62] - Trade payables decreased by approximately 31.8% from HKD 11,210,000 in 2017 to HKD 7,640,000 in 2018[69] Market Strategy and Future Plans - The company plans to focus on market expansion and new product development to drive future growth, although specific figures were not disclosed during the call[10] - The company began collaborating with 10 new brands in 2018, including 4 domestic and 6 overseas brands, to expand its market presence[42] - The company is optimistic about future opportunities and is actively seeking attractive investment and acquisition opportunities to enhance profitability[36] - The company plans to cautiously select high-growth potential projects for acquisition without jeopardizing financial stability[36] - The company anticipates stable economic growth in China for 2019, with the textile and apparel industry expected to maintain low-speed growth due to increasing consumer brand awareness[97] Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[101] - The company has established three committees: audit committee, remuneration committee, and nomination committee, to oversee specific aspects of its affairs[132] - The audit committee's main role includes reviewing financial information, internal control systems, and risk management processes[134] - The company emphasizes the importance of continuous professional development for its directors to ensure they remain informed about their responsibilities[116] - The board is responsible for strategic decision-making and monitoring the company's performance, ensuring that all decisions are made in the best interest of the company[114] Environmental Management - The company has established an environmental management policy in accordance with ISO14001 standards to minimize environmental impact[179] - There were no violations of environmental laws regarding emissions, wastewater treatment, or waste disposal during the year[180] - The company has implemented a wastewater recycling system, saving over 100 tons of water daily through improved processes and automation[186] - The company actively monitors wastewater discharge, ensuring compliance with the textile dyeing industry's pollution discharge standards[186] - The company has reduced landfill burden by dehydrating dyeing sludge, thereby decreasing its volume and water content[184]