香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Best Pacific International Holdings Limited 截至二零二四年十二月三十一日止年度的 全年業績公告 摘 要 – 1 – • 本集團截至二零二四年十二月三十一日止年度的收入為約5,061.3百 萬 港 元，較 截 至 二 零 二 三 年 十 二 月 三 十 一 日 止 年 度 增 加 約20.5%。 • 截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度，本 集 團 錄 得 毛 利 率 約26.8%， 較截至二零二三年十二月三十一日止年度增加約2.9個 百 分 點。 • 截至二零二四年十二月三十一日止年度，本集團錄得淨利潤率約11.7%， 較截至二零二三年十二月三十一日止年度增加約3.4個 百 分 點。 • 本集團截至二零二四年十二月三十一日止年度的溢利為約594.1百萬港 元，較 截 至 二 ...

Investment Rating - The report does not explicitly mention an investment rating for the company [1][2][3] Core Viewpoints - The company announced the acquisition of a land use right in Vietnam's Nghe An province to expand production capacity by 10-15% in the first phase [4][5][6] - The total land area acquired is approximately 512,000 square meters, with a total payment of HKD 220 million (USD 28.66 million) to be paid in installments [7][8][9] - The company plans to invest HKD 500 million in factory construction over the next 15-21 months, with production expected to commence by March 2026 [11][12] - The expansion aligns with the growth trend in the international sportswear market, where the company has seen a 35.8% increase in sportswear and apparel revenue in H1 2024, accounting for 54.6% of total revenue [15][16][19] - The Vietnam facility is expected to enhance operational efficiency due to competitive labor costs and tariff advantages in the international supply chain [25][26][28] Industry Analysis - The international sportswear and leisurewear industry has maintained a growth trend, with the company benefiting from this trend as a core supplier of elastic fabrics [16][17] - From 2014 to 2023, the company's revenue CAGR was 9.5%, with sportswear business revenue CAGR at 31.6% [18] - The sportswear market continues to show potential for scale expansion and fabric upgrades, which aligns with the company's expansion plans [20][21][22] Operational Efficiency - The company's existing Vietnam production base has achieved double-digit profit margins, outperforming other facilities [27] - The new Vietnam expansion is expected to leverage local labor cost advantages and supply chain benefits to further improve operational efficiency and support long-term growth [28][30][31]

Best Pacific International Holdings Limited 超盈國際控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：2111 中期報告 INTERIM REPORT | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | CONTENTS | | | | | | 目錄 Best Pacific International Holdings Limited / Interim Report 2024 超盈國際控股有限公司 / 二零二四年中期報告 | | | | | | Corporate Information | 2 | | ...

Revenue Growth - Revenue for the six months ended June 30, 2024, increased by 25.1% to approximately HKD 2,385.4 million compared to the same period in 2023[1] - Sales revenue from sportswear and apparel fabric materials increased by 35.8% to approximately HKD 1,301.9 million for the six months ended June 30, 2024[1] - Total revenue for the six months ended June 30, 2024, was HK$2,385,408 thousand, with HK$1,917,247 thousand from the manufacturing and trading of elastic fabric and lace, and HK$468,161 thousand from elastic webbing[12] - Revenue from elastic fabric for sportswear and apparel increased to HK$1,301,906 thousand in 2024 from HK$958,585 thousand in 2023, a growth of 35.8%[12][13] - Revenue from elastic fabric for lingerie rose to HK$587,541 thousand in 2024 from HK$528,580 thousand in 2023, an increase of 11.2%[12][13] - Revenue from elastic webbing grew to HK$468,161 thousand in 2024 from HK$386,969 thousand in 2023, a 21.0% increase[12][13] - The company's total sales revenue for the first half of 2024 reached HKD 2,385.4 million, a 25.1% increase compared to the same period in 2023[30] - Revenue from elastic fabric materials accounted for 79.2% of total revenue, with sportswear and apparel contributing 54.6% and lingerie contributing 24.6%[36] - Revenue from elastic bands and lace accounted for 19.6% and 1.2% of total revenue, respectively, with elastic bands showing a 21.0% YoY increase[36] - The company's sportswear and apparel elastic fabric division achieved significant growth, with sales revenue increasing by 35.8% to HKD 1,301.9 million in the first half of 2024, compared to HKD 958.6 million in the same period of 2023[37] - The underwear business showed strong growth, with elastic fabric sales reaching HKD 587.5 million, an increase of 11.2% compared to the same period in 2023[37] - Elastic band sales increased by 21.0% to HKD 468.2 million in the first half of 2024, driven by market recovery and increased product visibility[37] - The company's sales revenue from elastic fabric for sportswear and apparel customers rebounded strongly in the first half of 2024, highlighting significant market potential[62] Profitability - Gross profit for the six months ended June 30, 2024, increased by 60.9% to approximately HKD 645.2 million, with a gross profit margin of 27.0% compared to 21.0% in the same period in 2023[1] - Net profit for the six months ended June 30, 2024, increased by 138.6% to approximately HKD 283.2 million, with a net profit margin of 11.9%, up 5.7 percentage points from the same period in 2023[1] - Basic earnings per share for the six months ended June 30, 2024, increased by 100.1% to HKD 26.67 cents compared to HKD 13.33 cents in the same period in 2023[1] - Total comprehensive income for the six months ended June 30, 2024, was HKD 209.9 million, compared to HKD 13.2 million in the same period in 2023[3] - Gross profit for the six months ended June 30, 2024, was HK$645,162 thousand, with HK$528,105 thousand from elastic fabric and lace, and HK$117,057 thousand from elastic webbing[15] - Operating profit for the six months ended June 30, 2024, was HK$364,752 thousand, with HK$304,419 thousand from elastic fabric and lace, and HK$60,333 thousand from elastic webbing[15] - Profit before tax for the six months ended June 30, 2024, was HK$324,220 thousand[15] - Gross profit for the period was HKD 400,976 thousand, with HKD 326,549 thousand from elastic fabric and lace manufacturing and HKD 74,427 thousand from elastic band manufacturing[16] - Profit before tax for the six months ended June 30, 2023, was HKD 137,982 thousand[16] - Gross profit for the first half of 2024 was HKD 645.2 million, a 60.9% YoY increase, with a gross margin of 27.0%, up 6.0 percentage points from the previous year[31] - Net profit attributable to shareholders for the first half of 2024 was HKD 277.4 million, a 100.1% YoY increase, with basic earnings per share rising to HKD 26.67 cents, also a 100.1% increase[31] - The company's overall gross profit increased from HKD 401.0 million in the first half of 2023 to HKD 645.2 million in the first half of 2024, with a gross margin improvement from 21.0% to 27.0%[39] - Net profit for the six months ended June 30, 2024, was approximately HKD 283.2 million, a 138.6% increase compared to HKD 118.7 million in the same period in 2023[48] - Net profit margin for the six months ended June 30, 2024, was 11.9%, up 5.7 percentage points from 6.2% in the same period in 2023[48] Financial Position - The company's net debt decreased to approximately HKD 394.0 million as of June 30, 2024, compared to HKD 498.8 million as of December 31, 2023[1] - The company's net asset-to-liability ratio decreased to 11.6% as of June 30, 2024, from 15.0% as of December 31, 2023[1] - The company's net asset value as of June 30, 2024, was HK$3,407,156 thousand, compared to HK$3,315,541 thousand as of December 31, 2023[5] - Non-current liabilities decreased to HK$783,097 thousand as of June 30, 2024, from HK$565,354 thousand as of December 31, 2023[5] - Total bank and other borrowings decreased to 1,225,467 thousand HKD in 2024 from 1,514,576 thousand HKD in 2023, showing a reduction in debt levels[28] - Unsecured bank borrowings decreased to 1,081,654 thousand HKD in 2024 from 1,370,763 thousand HKD in 2023, reflecting a reduction in unsecured debt[29] - Net debt-to-equity ratio as of June 30, 2024, was 11.6%, down from 15.0% as of December 31, 2023[51] - Trade receivables and bills receivable totaled 785,988 thousand HKD in 2024, compared to 737,674 thousand HKD in 2023, indicating an increase in sales-related receivables[24] - Trade receivables aged 0-90 days accounted for 731,163 thousand HKD in 2024, up from 681,265 thousand HKD in 2023, showing a rise in short-term receivables[25] - Trade payables aged 0-90 days decreased to 265,059 thousand HKD in 2024 from 300,030 thousand HKD in 2023, reflecting changes in payment terms[26] - Bills payable aged 0-90 days decreased to 163,849 thousand HKD in 2024 from 190,748 thousand HKD in 2023, indicating a reduction in short-term liabilities[27] - Operating working capital as of June 30, 2024, was approximately HKD 1,157.3 million, an increase of HKD 379.0 million compared to December 31, 2023[49] - Bank deposits pledged as collateral as of June 30, 2024, were approximately HKD 74.7 million, down from HKD 88.0 million as of December 31, 2023[54] Dividends - The company declared an interim dividend of HKD 13.33 cents per share for the six months ended June 30, 2024, compared to HKD 5.3 cents per share in the same period in 2023[1] - The company declared a final dividend of HKD 11.38 cents per share for the year ended December 31, 2023, totaling approximately HKD 118,330,000, compared to HKD 4.22 cents per share and HKD 43,880,000 for the previous year[21] - An interim dividend of HKD 13.33 cents per share was declared for the six months ended June 30, 2024, compared to HKD 5.3 cents per share for the same period in 2023[21] - The company declared an interim dividend of HK$0.1333 per ordinary share for the six months ended June 30, 2024, payable on October 4, 2024[67] - The company will suspend share transfer registration from September 12 to September 16, 2024, to determine eligibility for the interim dividend[68] Operational Efficiency - The company's Vietnam operations achieved over 30% sales growth in the first half of 2024, outperforming the market's 4.6% growth in textile and apparel exports[33] - Sri Lanka operations saw over 40% sales growth in the first half of 2024, driven by capacity expansion and increased orders from selected customers[34] - The company has improved operational efficiency at its overseas production bases in Vietnam and Sri Lanka, leading to significant financial improvements for its international subsidiaries[63] - The company expects the positive trend in sales orders and capacity utilization to continue in the second half of 2024, supported by a stabilizing economic recovery[63] - The company is actively evaluating the feasibility of expanding manufacturing capacity in Vietnam and other regions to meet potential growth in export demand[63] - The company's annual design capacity for elastic fabrics, elastic webbing, and lace as of June 30, 2024, is approximately 253.8 million meters, 1,950.2 million meters, and 45.0 million meters, respectively[63] Expenses and Costs - Sales cost increased by 15.6% to HKD 1,740.2 million in the first half of 2024, primarily due to higher overall sales revenue[38] - The company's other income remained stable at HKD 19.4 million in the first half of 2024, with a notable increase in scrap sales revenue due to business expansion[41] - Exchange gains decreased to HKD 20.4 million in the first half of 2024 from HKD 24.3 million in the same period of 2023, influenced by currency fluctuations[42] - Administrative expenses increased to 6.9% of total revenue in the first half of 2024, up from 6.5% in the same period of 2023, due to business expansion and higher employee benefits[44] - R&D expenses remained consistent at 2.1% of total revenue in both the first half of 2023 and 2024, reflecting the company's commitment to innovation[45] - The company's effective tax rate decreased to 12.7% in the first half of 2024 from 14.0% in the same period of 2023, benefiting from preferential tax treatments in Vietnam and Sri Lanka[47] - Depreciation of property, plant, and equipment for the six months ended June 30, 2024, was HKD 203,463 thousand, compared to HKD 163,372 thousand for the same period in 2023[17] - Inventory cost recognized as an expense for the six months ended June 30, 2024, was HKD 1,740,246 thousand, compared to HKD 1,505,736 thousand for the same period in 2023[17] - Hong Kong profits tax for the six months ended June 30, 2024, was HKD 19,048 thousand, compared to HKD 9,669 thousand for the same period in 2023[18] - Mainland China enterprise income tax for the six months ended June 30, 2024, was HKD 10,716 thousand, compared to HKD 8,927 thousand for the same period in 2023[18] - Capital expenditures for the six months ended June 30, 2024, totaled approximately HKD 164.4 million, up from HKD 128.5 million in the same period in 2023[53] Sustainability and Environmental Practices - The company is committed to sustainability, supporting the UN 2030 Agenda for Sustainable Development, and has adopted eco-friendly practices such as using green energy and biomass fuels to reduce greenhouse gas emissions[59][60] - The company has installed low-water-ratio dyeing machines and increased the reuse of discharge and reverse osmosis water to reduce fresh water usage in production[60] - The company has obtained the Bluesign® Standard certification, recognized as one of the most stringent environmental standards for textile products, and uses the Higg Facility Environmental Module (FEM) for standardized environmental assessments[60] Global Economic and Market Trends - Global economic growth in 2024 is projected at 3.2% by the IMF, with the US GDP growing 1.4% in Q1 and 2.8% in Q2, while China's GDP grew 5.0% in the first half of 2024[30] - China's textile product exports increased by 8.2% YoY in the first half of 2024, and Vietnam's textile and apparel exports grew by 4.6% during the same period[30] - Global GDP is expected to grow at 3.2% in 2024 and 3.3% in 2025, with world trade growth projected at 3.25% annually during 2024-2025, supported by declining global inflation[61] Corporate Governance and Leadership - The company's board of directors includes Mr. Lu Yukwong, Mr. Zhang Haitao, Mr. Ng Siu Lun, Ms. Cheng Ting Ting, Mr. Chan Yiu Sing, Mr. Lu Lap Bun, Mr. Zhang Yiming*, Mr. Kwok Tai Chi*, and Mr. Lam Yin Shing*[70] - The announcement was made on August 27, 2024, by Mr. Lu Yukwong, Chairman of Chaoying International Holdings Limited[70] - The board expresses gratitude to employees, shareholders, customers, banks, and business partners for their trust and support[70] - Independent non-executive directors are marked with an asterisk (*) in the board list[70] Foreign Exchange and Risk Management - The company's revenue is primarily denominated in USD and HKD, while a portion of procurement and expenses are in CNY, VND, and LKR. Significant exchange rate fluctuations could impact the company's financial performance[55] - The company manages foreign exchange risk by analyzing sales orders and expected payments in foreign currencies, and by holding cash and bank deposits in the respective currencies through its subsidiaries in Hong Kong, Vietnam, and Sri Lanka[55] Employee and Workforce - The company employs 10,683 full-time employees as of June 30, 2024, an increase from 9,604 on December 31, 2023, mainly due to overall capacity expansion[57]

Corporate Information 公司資料 | --- | |------------------------------| | | | 註冊辦事處 | | Cricket Square | | Hutchins Drive P.O. Box 2681 | | Grand Cayman | | KY1-1111 | Chairman's Statement 主席報告 本人謹代表超盈國際控股有限公司（「本公司」 或「超盈國際」，連同其附屬公司，統稱「本集 團」或「我們」）董事（「董事」）會（「董事會」）， 欣然提呈截至二零二三年十二月三十一日止 年度的全年業績。 Chairman's Statement 主席報告 過往數年，我們有條不紊地逐漸完成於越南 社會主義共和國（「越南」）及斯里蘭卡民主社 會主義共和國（「斯里蘭卡」）的擴張計劃，運 營效率不斷提高。我們欣然發現海外生產基 地的財務表現有所提高，尤其是在二零二三 年下半年。其中，我們的越南工廠於二零 二三年實現兩位數銷售增長，同時，我們於 斯里蘭卡的投資也開始為本集團帶來整體正 向的財務貢獻。我們的國際化業務版圖使我 們期待與對我們的海外產能越來 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 | --- | --- | |-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | 摘 要 | | | • | 本集團截至二零二三年十二月三十一日止年度的收入為約 4,200.7 百 萬 港 元，較 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 ...

Interim Report 2023 二零二三年中期報告 63 Trade payables 本集團債權人給予的信貸期介乎約30 至90日。以下為貿易應付款項於各報 告期間結束時按發票日期呈列的賬齡分 析： 於二零二三年六月三十日，計入本集 團貿易應付款項結餘的約24,852,000 港元（於二零二二年十二月三十一日： 約24,476,000港元）乃應付合營企業款 項。該等應付合營企業結餘為無抵押及 免息，信貸期為自出具該月份之購買月 結單發出日期起計30日。於報告期間 結束時，該結餘的賬齡在90日內。 Bills payables The following is an ageing analysis of bills payables presented based on the date of issuance of bills 11. 貿易應付款項及應付票據（續） percentage of Disclosure of Interests 權益披露 Disclosure of Interests 權益披露 | --- | --- | |-------------------------------- ...

– 4 – 資產淨值 3,107,788 3,138,447 – 5 – 香港會計準則第8號（修 訂 本） 會 計 估 計 的 定 義 香港會計準則第12號（修 訂 本） 與 單 一 交 易 產 生 之 資 產 及 負 債 有 關 的 遞 延 稅 項 2. 編製基準 除下文所披露應用香港財務報告準則（「香港財務報告準則」）（修 訂 本）所導致的新增會計 政 策 外，截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 簡 明 綜 合 財 務 報 表 所 用 之 會 計 政 策 及 計 算 方 法 與 呈 列 於 本 集 團 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 年 度 財 務 報 表 者 相 同。 – 6 – 3.2 應用香港會計準則第12號（修 訂 本）與單一交易產生之資產及負債有關的遞延稅項 的影響及會計政策變動 本 期 應 用 該 修 訂 本 對 綜 合 財 務 報 表 並 無 重 大 影 響。 貨品類別 來自客戶合約之收入細分 截至二零二二年六月三十日止六個月（未 經 審 核） 分部資料 • 製造及買賣彈性織物面料及蕾絲 分部收入及業績 製造及 買賣彈性 ...

| --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Best Pacific International Holdings Limited 超盈國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2111） 1 綜合損益及其他全面收益表 截至二零二二年十二月三十一日止年度 2 3 4 | --- | --- | --- | --- | |-----------------------------------|-------|---------------------|-------------------| | | 附註 | 二零二二年 千港元 | 二零二一年 千港元 | | 非流動負債 | | | | | 銀行及其他借款 | 11 | 105,515 | 648,789 | | 租賃負債 | | 93,369 | 128,972 | | 遞延收入 | | 14,294 | 15,390 | | 遞延稅項負債 | | 9,735 | 9,698 | | 退休福利責任 | | 8,191 | 9,789 | | 其他負債 | | 2,160 | 7,591 | | | | 233,264 | 820,229 | | 資產淨值 | | 3,138,44 ...