Financial Performance - In the fiscal year 2023, the company's revenue was RMB 3.64 billion, an increase of 20.7% compared to RMB 3.02 billion in 2022, while net profit decreased by 39.3% due to trade tariffs between China and the US[45]. - The total sales cost for the fiscal year 2023 increased by 27.8% to approximately RMB 3.16 billion, up from RMB 2.47 billion in 2022, primarily due to increased sales[12]. - The cost of consumed materials rose by 37.3% to RMB 2.63 billion in 2023, compared to RMB 1.91 billion in 2022[12]. - Operating profit before changes in working capital was RMB 435.88 million in 2023, a decrease of 21.3% from 2022[76]. - The gross margin for panel furniture decreased to 13.2% in 2023 from 18.0% in 2022, attributed to price reductions amid the appreciation of the US dollar against the RMB[46]. - The company reported a net foreign exchange gain of RMB 32.07 million in 2023, down from RMB 80.62 million in 2022[13]. - In 2023, the company's revenue increased by 20.7%, while net profit decreased by 39.3% due to global economic downturns and the impact of trade tariffs between China and the US[53]. Customer and Market Insights - Revenue from the top five customers accounted for 77.1% of total sales in 2023, a decrease of 6.5 percentage points from 83.6% in 2022, with total sales to these customers increasing by 11.4% year-over-year[15]. - Revenue from the US accounted for 62.9% of total sales, up from 61% in 2022, while revenue from mainland China decreased from 7.2% in 2022 to 6.7% in 2023[32]. - The company has expanded its product sales to 46 countries in 2023, a decrease of 10 countries compared to 2022, while maintaining its market share in the US[32]. - The company is actively pursuing market expansion outside the US, including in African countries[32]. - The company anticipates a gradual recovery in furniture market demand in 2024 as developed economies, led by the US, ease interest rate hikes[33]. Investment and Use of Proceeds - The net proceeds from the global offering amounted to approximately HKD 1,280.69 million, with an additional HKD 121.06 million from the partial exercise of the over-allotment option[3]. - The company plans to utilize HKD 463 million (33.0%) of the proceeds for the second phase of its factory project in Ganzhou, Jiangxi Province, expected to be completed by June 30, 2024[4]. - The company has allocated HKD 140 million (10.0%) for general working capital and other corporate purposes[4]. - The company aims to enhance its product design and R&D capabilities with an investment of HKD 93 million (6.6%) from the proceeds[4]. Research and Development - The company has increased its research and development investment, with ODM product sales accounting for over 80% in the fiscal year 2023[44]. - The company plans to leverage its four R&D centers to enhance product innovation and market expansion in the smart home sector[53]. - The company aims to attract high-end R&D talent and deepen product innovation in panel and soft furniture[53]. Employee and Governance - The group employed a total of 3,075 employees as of December 31, 2023, with total employee costs approximately RMB 300.7 million, an increase from RMB 283.6 million in the previous year[181]. - The company is committed to providing competitive compensation and fostering a strong cultural value among employees, emphasizing loyalty and service[141]. - The board of directors maintained a 100% attendance rate at the annual general meeting, reflecting strong governance practices[129]. - The company has a continuous professional development program for its directors to ensure compliance with relevant training requirements[98]. Risk Management and Compliance - The company has implemented multiple risk management procedures and guidelines to identify potential risks affecting its operations and financial processes[91]. - The internal audit department reported risk issues to management, including strategic environment risks and operational risks[92]. - The company has adopted various risk management procedures to monitor and control risks effectively[90]. - The company has taken measures to prevent delays in performance announcements by enhancing early communication with banks and financial institutions during the audit process[94]. Shareholder Communication and Equity - The company has established a shareholder communication policy to ensure timely access to comprehensive information for shareholders[115]. - The financial reserves available for distribution to shareholders as of December 31, 2023, were detailed in the consolidated financial statements[143]. - The group has capital commitments of approximately RMB 681 million for the acquisition of intangible assets and property, plant, and equipment as of December 31, 2023, compared to RMB 114 million as of December 31, 2022[179]. - The group completed the acquisition of 100% equity in Jiangxi Bashen for RMB 191 million, with the payment made by December 31, 2023[182]. Future Outlook - The outlook for 2024 indicates a gradual recovery in consumer willingness to spend on furniture, supported by economic recovery and rising disposable income[187]. - The company plans to enhance product design and brand development to meet consumer demands for improved aesthetics and user experience[187]. - The company aims to strengthen management and expand international retail partnerships while continuing to innovate in research and development[187].

Financial Position and Borrowings - The company's short-term borrowings increased to RMB 734 million as of December 31, 2023, compared to RMB 294 million in the same period last year, while long-term borrowings decreased to RMB 90 million from RMB 100 million[3] - The company's current ratio decreased to 2.6 as of December 31, 2023, from 7.8 in the previous year, while the capital gearing ratio increased to 15.7% from 8.1%[10] - The company's total assets pledged as collateral increased to RMB 567.60 million as of December 31, 2023, from RMB 427.25 million in the previous year[18] - Trade receivables of RMB 221.285 million were pledged as collateral for bank financing as of December 31, 2023[108] Trade Receivables and Impairment - The company's trade receivables (net of impairment provisions) increased to RMB 1,526.53 million as of December 31, 2023, from RMB 773.16 million in the previous year, with impairment losses on trade receivables rising to RMB 59.79 million from RMB 16.82 million[17] - Trade receivables increased to RMB 1.527 billion in 2023 from RMB 773.158 million in 2022, with a credit period extended to 150 days for export and domestic sales customers[33] - Trade receivables increased to RMB 1,586,313,000 in 2023 from RMB 789,976,000 in 2022, with an impairment provision of RMB 59,788,000[77] Capital Commitments and Investments - The company's capital commitments for the acquisition of intangible assets and property, plant, and equipment amounted to RMB 681 million as of December 31, 2023, a significant increase from RMB 114 million in the previous year[19] - The company invested RMB 636 million in establishing new production workshops for panel and soft furniture, with 45.4% of the total funds allocated to this project[130] - The company's R&D and product design capabilities were enhanced with an investment of RMB 93 million, representing 6.6% of the total funds[130] - The company's factory in Longnan completed the main structure construction and is undergoing internal decoration and equipment procurement[132] - The company's factory in Ganzhou Nankang is in the land leveling phase, with progress in smart home R&D and patent applications[132] Share Issuance and Financing - The company successfully placed 306,910,000 new shares at HKD 0.13 per share, raising net proceeds of approximately HKD 39.3 million[14] - The company issued 306,908,000 new shares at HKD 0.135 per share, raising net proceeds of approximately HKD 40.8 million[15] - The company's global offering net proceeds amounted to approximately HKD 1,280.69 million after deducting underwriting commissions and other expenses[155] Employee Costs and Workforce - The company's total employee cost increased to RMB 300.7 million as of December 31, 2023, from RMB 283.6 million in the previous year, with a total of 3,028 employees[23] - Employee costs rose to RMB 300.697 million in 2023, compared to RMB 283.643 million in 2022[66] Inventory and Impairment - The company's inventory impairment provision decreased to RMB 0 million as of December 31, 2023, from RMB 28 million in the previous year[5] - Inventory decreased to RMB 877.757 million in 2023 from RMB 1.042 billion in 2022[39] - Total inventory decreased to RMB 877,757,000 in 2023 from RMB 1,070,210,000 in 2022, with no inventory impairment provision in 2023[76] Revenue and Profit - Revenue for the 2023 fiscal year was approximately RMB 3,641 million, an increase of 20.75% compared to RMB 3,015 million in 2022[52] - Net profit for the 2023 fiscal year was approximately RMB 203 million, a decrease of 39.30% compared to RMB 334 million in 2022, primarily due to the impact of trade tariffs between China and the US[52] - Gross profit for 2023 was RMB 483.313 million, down from RMB 544.774 million in 2022[53] - Revenue from the United States in 2023 was RMB 2,290.770 million, accounting for the largest share of external customer revenue[62] - Revenue increased by 20.7% to RMB 3.641 billion in 2023, while net profit decreased by 39.3% due to the impact of trade tariffs between China and the US[121] - Total revenue increased to RMB 3,640,712,000 in 2023 from RMB 3,015,191,000 in 2022, with panel furniture contributing RMB 3,434,603,000[80] - Revenue from major customers increased to RMB 2,791,097,000 in 2023 from RMB 2,520,923,000 in 2022, with Customer A contributing RMB 811,560,000[78] - Total sales revenue increased by 24.09% to RMB 3,607,946 thousand in 2023 compared to RMB 2,993,389 thousand in 2022[142] - Sales cost rose by 27.8% to RMB 3,157,399 thousand in 2023, primarily due to increased sales[153] - Material consumption costs increased by 37.3% to RMB 2,626,545 thousand in 2023[143] - Outsourcing processing fees surged by 77.7% to RMB 35,536 thousand in 2023[143] Cash Flow - Operating profit before working capital changes decreased by 21.3% to RMB 435.877 million in 2023 compared to RMB 553.745 million in 2022[30] - Net cash used in operating activities decreased by 39.4% to RMB 93.662 million in 2023 from RMB 154.536 million in 2022[30] - Net cash used in investing activities slightly decreased by 0.6% to RMB 1.345 billion in 2023 from RMB 1.353 billion in 2022[30] - Net cash from financing activities significantly increased by 421.6% to RMB 396.410 million in 2023 from a net cash used of RMB 123.244 million in 2022[30] - Cash and cash equivalents decreased to RMB 465.355 million as of December 31, 2023, from RMB 1.506 billion as of December 31, 2022[30] Acquisitions and Investments - The company completed the acquisition of 100% equity in Jiangxi Bashen for RMB 191 million, which primarily provides IT solutions to furniture manufacturers[24] - The company acquired Jiangxi Bashen Data Technology Co., Ltd. for RMB 191.737 million, contributing RMB 14.821 million in revenue and RMB 2.838 million in profit since the acquisition[117][114] - The company added assets worth approximately RMB 1,628,997,000 in 2023, a significant increase from RMB 453,210,000 in 2022[75] - The company's total assets increased to RMB 191.737 million in 2023, up from RMB 46.324 million in 2022[104] - The company's intangible assets increased to RMB 60.200 million in 2023[96] Tax and Earnings - Income tax expense decreased to RMB 46,338,000 in 2023 from RMB 55,523,000 in 2022, with current tax in China at RMB 36,695,000[83] - The company's two Chinese subsidiaries qualified as high-tech enterprises, enjoying a preferential corporate income tax rate of 15% for 2023[85] - Basic and diluted earnings per share decreased to RMB 0.0675 in 2023 from RMB 0.1091 in 2022, with net profit attributable to shareholders at RMB 207,103,000[88] - Basic and diluted earnings per share for 2023 were RMB 6.75 cents, down from RMB 10.91 cents in 2022[52] - The weighted average number of ordinary shares for calculating basic earnings per share was 3,069,090,000 for both 2023 and 2022[72] Market and Customer Trends - The company expects a recovery in furniture consumption in 2024 due to economic recovery and increased disposable income, with a positive impact on Chinese furniture exporters from the slowdown in interest rate hikes in developed economies[28] - The company's board furniture revenue increased by 21.7% in 2023, but gross margin declined due to price reductions in response to the appreciation of the US dollar against the RMB[122] - Soft furniture revenue decreased by 0.6% in FY2023, with a decline in gross margin due to product price reductions amid the appreciation of the USD against the RMB[123] - Sports and custom furniture revenue was RMB 96 million in FY2023, a decrease of 2.3% compared to FY2022, with gross margin also declining due to price reductions[123] - US sales accounted for 62.9% of total revenue in FY2023, increasing by 24.4% compared to FY2022, driven by higher order volumes[124] - Total revenue in FY2023 was RMB 3.64 billion, a 20.7% increase from FY2022, with significant improvements in performance due to increased product upgrades and R&D investments[124] - The company's ODM product sales accounted for over 80% of total sales in FY2023, maintaining a high proportion for multiple years[134] - Revenue from the top five customers increased by 11.4% in FY2023, accounting for 77.1% of total revenue, down from 83.6% in FY2022[141] - ODM product sales accounted for 83.5% of total furniture product revenue in 2023, maintaining a share above 80% for multiple years[151] Research and Development - Research and development costs increased significantly to RMB 152.602 million in 2023, up from RMB 57.318 million in 2022[66] - The company aims to expand international large retail chain customers and strengthen R&D innovation for long-term growth[158] Exchange Gains and Losses - Exchange gains decreased to RMB 32.071 million in 2023 from RMB 80.620 million in 2022[50] Dividends and Shareholder Returns - The company did not recommend paying a final dividend for the 2023 fiscal year[52] Asset Sales and Gains - The company sold assets with a net book value of RMB 19.563 million, resulting in a net gain of RMB 12.706 million[89] Trade Payables and Credit Terms - The company's trade payables increased to RMB 263.071 million in 2023, up from RMB 188.720 million in 2022[109] - The company's credit terms with customers generally range from 30 to 150 days, compared to 30 to 90 days in 2022[106] New Customers and Market Expansion - The company added two new customers, Baoyi International Trading Co., Ltd. and Hong Kong Ruichangli International Trading Co., Ltd., in 2023[120] Share Trading and Suspension - The company's shares were suspended from trading on the Hong Kong Stock Exchange starting April 2, 2024, and resumed trading on April 23, 2024[170] Corporate Structure and Tax Rates - The company's non-current assets are all located in China as of December 31, 2023[47] - The company's Chinese subsidiaries are subject to a corporate income tax rate of 25%, with a preferential rate of 15% for those located in the Western Development region[68][69] Product Design and Brand Building - The company plans to enhance product design and brand building to meet evolving consumer demands[146] Securities Transactions - The company did not purchase, redeem, or sell any of its listed securities during the 2023 fiscal year[159]

1月27日晚间，汇森家居发布公告，董事会建议对公司英文名称进行更改，由“Huisen Household International Group Limited”更改为“Huisen Shares Group Limited”。同时，中文双重外文名称也将由“汇森家居国际集团有限公司”更改为“汇森股份集团有限公司”。 这一提议的实施，需在即将召开的股东特别大会上通过特别决议案。并且，还需得到开曼群岛公司注册处处长的批准，通过发出更改名称注册证书才能正式生效。 ...

Financial Performance - The company's revenue for the six months ended June 30, 2023, was RMB 1.48 billion, a decrease of 24.5% compared to RMB 1.96 billion in the same period of 2022[2][9]. - Net profit for the same period was RMB 160 million, down 46.0% from the previous year's net profit[2]. - Revenue from panel furniture decreased from approximately RMB 1.85 billion to about RMB 1.41 billion, a decline of 24.2% due to reduced demand in overseas markets[3]. - The company's top five customers accounted for 84.7% of total revenue, with a total revenue of RMB 1.25 billion, down 25.5% year-on-year[5]. - Revenue from soft furniture, primarily sofas, decreased by approximately 29.6% due to reduced demand from the slowing real estate market in Europe and the United States[51]. - Revenue from sports furniture, including table tennis and billiard tables, was RMB 38.6 million, down 28.5% compared to the same period in 2022[52]. - Gross profit for the same period was RMB 195,906 thousand, down 52.0% from RMB 407,671 thousand in the previous year[154]. - Profit before tax was RMB 183,716 thousand, a decline of 47.5% from RMB 349,121 thousand in the prior year[154]. - The net profit attributable to the company's owners for the six months ended June 30, 2023, was RMB 161,328, down from RMB 298,008 in the same period last year[70]. - Basic and diluted earnings per share decreased to RMB 5.3 from RMB 9.7 year-on-year[70]. Cash Flow and Financial Position - The company's cash flow from operating activities showed a net outflow of RMB 218.9 million, a decrease of 133.3% compared to the previous year[19]. - The company's short-term borrowings were approximately RMB 316.3 million as of June 30, 2023, an increase from RMB 293.8 million at the end of 2022[20]. - The current ratio as of June 30, 2023, was 5.05, down from 7.8 as of December 31, 2022[59]. - The capital debt ratio was approximately 7.4% as of June 30, 2023, compared to 8.1% as of December 31, 2022[59]. - The company's cash and cash equivalents decreased to RMB 924,584 thousand from RMB 1,505,808 thousand, a decline of about 38.5%[177]. - The trade receivables rose significantly to RMB 1,310,628 thousand from RMB 773,158 thousand, an increase of approximately 69%[177]. - Current liabilities increased to RMB 680,178 thousand from RMB 549,262 thousand, reflecting a rise of approximately 24%[177]. - The net asset value decreased from RMB 3,707,665 thousand to RMB 2,755,906 thousand, a decline of about 26%[177]. - Cash used in operating activities was RMB 218,879 thousand, a significant decline compared to cash generated of RMB 657,734 thousand in the previous year[182]. - Cash flow from investing activities showed a net outflow of RMB 332,893 thousand, compared to RMB 917,863 thousand in the prior period, indicating increased investment activity[182]. Operational Highlights - Revenue from the ODM segment was RMB 1.22 billion, representing 83.2% of total revenue, while OEM revenue was RMB 248 million, accounting for 16.8%[12]. - The group's sales cost decreased by 17.3% from approximately RMB 1.56 billion in the first half of 2022 to approximately RMB 1.29 billion in the first half of 2023, primarily due to a reduction in furniture product sales[27]. - The company aims to continuously expand markets outside the United States and strengthen ODM capabilities to enhance core competitiveness and market share[67]. - The group expects a stable real estate market and a rebound in the furniture market in the second half of 2023, benefiting from the end of the interest rate hike cycle in developed countries[83]. - The group continues to strengthen its original design manufacturing capabilities amid a challenging market environment[44]. Investments and Acquisitions - The company is in the process of acquiring 100% equity of Jiangxi Bashen for RMB 160 million, with a payment of RMB 57.3 million made as of June 30, 2023[23]. - The group has agreed to acquire 100% equity of Jiangxi Bashen Data Technology Co., Ltd. for RMB 160 million[41]. - The company incurred capital expenditures of RMB 335,434,000 on property, plant, and equipment during the reporting period, compared to RMB 115,422,000 in the same period last year[79]. - The group has no significant investments or acquisitions planned that would constitute more than 5% of total assets[109]. Employee and Operational Costs - The group has a total of 3,001 employees as of June 30, 2023, with total employee costs approximately RMB 142.4 million, a slight decrease from RMB 145.4 million in the same period of 2022[107]. - The company reported a decrease in distribution and selling expenses to RMB 29,949 thousand from RMB 40,519 thousand, a reduction of 26.0%[154]. - Administrative expenses decreased to RMB 63,349 thousand from RMB 75,140 thousand, reflecting a 15.7% reduction[154]. Shareholder and Equity Information - As of June 30, 2023, the major shareholder, Chun Pak Limited, holds 2,045,750,000 shares, representing 66.65% of the issued shares[127]. - The total equity attributable to owners of the company increased to RMB 5,210,334 thousand from RMB 5,049,006 thousand, representing a growth of approximately 3.19%[178]. - The total number of share options granted under the company's plans during the reporting period was 85,163,700, representing 7% of the weighted average number of shares issued[158]. Legal and Regulatory Matters - The group is actively seeking legal measures to oppose a liquidation petition amounting to HKD 7.5 million filed against it[102]. - The company maintained a public float of at least 25% as required by listing rules[161].

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。 Huisen Household International Group Limited 匯森家居國際集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2127） 有關本公司截至2022年12月31日止年度年度報告的補充公告 茲提述匯森家居國際集團有限公司（「本公司」）於2023年4月27日刊發的截至2022 年12月31日止年度的年度報告（「2022年年報」）。除另有界定者外，本公告所用詞 彙與2022年年報所界定者具有相同涵義。 除2022年年報所載董事會報告「購股權計劃」一節及綜合財務報表附註41所披露 者外，本公司謹根據上市規則第17.07及17.09條向本公司股東及潛在投資者提供 以下有關本公司購股權計劃的額外資料。 董事會報告「購股權計劃」一節應列示如下： 購股權計劃 ...

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。 Huisen Household International Group Limited 匯 森 家 居 國 際 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2127） 截至2023年6月30日止六個月 的中期業績公告 財務摘要 • 本集團於截至2023年6月30日止六個月的收益為約人民幣14.8億元，較截至2022年 6月30日止六個月的約人民幣19.6億元減少約24.5%。 • 截至2023年6月30日止六個月的溢利約為人民幣161.0百萬元，較截至2022年6月30 日止六個月的約人民幣298.0百萬元減少約46.0%。 • 截至2023年6月30日止六個月本公司每股股份（「股份」）的基本及攤薄盈利為人民幣 0.05元，而截至2022年6月30日止六個月為人民幣0.10元。 ...

Employee and Management - As of December 31, 2022, the group had a total of 3,028 employees, with total employee costs approximately RMB 283.6 million, a decrease from RMB 298.6 million as of December 31, 2021[1]. - The company aims to enhance employee training and attract high-quality talent to support its growth strategy[59]. - The board composition includes both executive and independent non-executive directors, ensuring effective oversight and decision-making[32]. - The board has maintained a high standard of corporate governance and has conducted independent assessments of board members' independence[10][19]. - The company has not identified any non-compliance with its internal codes by employees during the fiscal year 2022[23]. Financial Performance - In 2022, the company's revenue decreased by 41.3% compared to 2021, while net profit fell by 62.4% due to reduced consumer purchasing power and increased costs[62]. - In the fiscal year 2022, the company's revenue was RMB 3.015 billion, a decrease of 41.3% compared to RMB 5.139 billion in 2021[86]. - The net profit for 2022 decreased by 62.3% due to a reduction in orders and price declines for some products[86]. - The revenue from the US market accounted for 61.1% of total sales, down from 67.3% in 2021, reflecting a 46.7% decrease in sales[94]. - The total revenue from the top five customers decreased by 43.5% to RMB 2,520,923 thousand, accounting for 83.6% of total sales, down from 86.8% in 2021[96][102]. Market and Sales - Revenue from mainland China increased from 4.8% in 2021 to 7.2% in 2022, while revenue from other regions rose from 16.0% to 20.6%[57]. - The company expanded its market presence, selling products in 56 countries in 2022, an increase of 9 countries from 2021, while reducing reliance on the US market[57]. - The company is actively exploring revenue opportunities outside the US, including in African countries[57]. Research and Development - The company plans to enhance investment in product design and brand development to meet evolving consumer demands for aesthetics and user experience[8]. - The company plans to continue increasing investment in research and development despite industry challenges[57]. - The company has established four R&D centers in the US, Ganzhou, Beijing, and Dongguan, focusing on product innovation and smart home market expansion[75]. - The company plans to leverage collaborations with universities and research institutions to attract high-end R&D talent and accelerate product innovation[75]. - The company aims to enhance R&D and innovation capabilities in 2023, anticipating a gradual recovery in furniture market demand[74]. Corporate Governance - The board of directors is responsible for guiding and monitoring the company's operations and financial performance[39]. - The company has established a board independence assessment mechanism to ensure strong independence and effective judgment in safeguarding shareholder interests[148]. - The company maintained compliance with corporate governance codes throughout the 2022 financial year, ensuring sustainable returns for shareholders[150]. Investments and Capital Expenditure - No significant investments were held by the company during the fiscal year 2022[4]. - The company allocated HKD 636 million (45.4%) for establishing a new production workshop for panel furniture and soft furniture[160]. - A total of HKD 463 million (33.0%) was designated for the second phase of the factory construction in Nankang, Jiangxi Province, China[160]. - HKD 70 million (5.0%) was spent on acquiring advanced and automated machinery for the Huishen Furniture Factory[160]. - The company invested HKD 93 million (6.6%) to enhance product design and R&D capabilities[160]. Financial Position and Cash Flow - Cash and cash equivalents as of December 31, 2022, were approximately RMB 1,505,808 thousand, down from RMB 3,137,071 thousand in 2021[113]. - The group’s short-term borrowings were approximately RMB 294 million as of December 31, 2022, down from RMB 366 million in the previous year[119]. - The group maintained a current ratio of approximately 7.8 as of December 31, 2022, compared to 5.5 in 2021[119]. - The group experienced a foreign exchange loss of RMB 80,620 thousand in 2022, compared to a gain of RMB 38,617 thousand in 2021[106]. - The company recorded a trade receivables impairment loss of RMB 16.82 million for the fiscal year 2022, indicating an increase in credit risk assessment[127]. Dividend and Shareholder Returns - The board of directors does not recommend the payment of a final dividend for the fiscal year 2022, consistent with no final dividend declared for the fiscal year 2021[6]. - The company's share premium for 2022 is RMB 656,736,000, unchanged from 2021[200]. - The statutory reserve increased to RMB 401,395,000 in 2022, up from RMB 381,574,000 in 2021, representing a growth of approximately 5.4%[200]. - Retained earnings rose to RMB 3,611,124,000 in 2022, an increase of 9.5% from RMB 3,296,045,000 in 2021[200]. - Total equity for the company reached RMB 4,669,255,000 in 2022, compared to RMB 4,334,355,000 in 2021, indicating a growth of about 7.7%[200].

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。 Huisen Household International Group Limited 匯 森 家 居 國 際 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：2127） 截至2022年12月31日止年度 的全年業績公告 財務摘要 • 匯森家居國際集團有限公司（「本公司」，連同其附屬公司「本集團」）於截至2022年 12月31日止年度（「2022年財政年度」）的收益為約人民幣3,015百萬元，較截至2021 年12月31日止年度（「2021年財政年度」）約人民幣5,139百萬元減少約41.3%。 • 2022年財政年度的溢利約為人民幣334百萬元，較2021年財政年度約人民幣888百 萬元減少約62.4%，主要由於2022年財政年度歐美國家持續加息導致房地產市場， 帶動家具需求減少，以及美元 人民幣持續升值背景下，集團部分產品降價。 兌 • 2022年財政年度本公司每股股份（「股 ...

Financial Performance - The company's revenue for the first half of 2022 was RMB 1.96 billion, a decrease of 18.3% compared to the same period in 2021, with net profit falling to RMB 300 million, down 29.2% year-on-year[11]. - Revenue for the first half of 2022 was RMB 1,963,224 thousand, a decrease of 18.3% compared to RMB 2,402,415 thousand in the same period of 2021[16]. - Gross profit for the same period was RMB 407,671 thousand, down 35.4% from RMB 630,489 thousand year-on-year[75]. - Profit before tax was RMB 349,121 thousand, a decline of 28.6% compared to RMB 488,585 thousand in the previous year[75]. - Net profit for the period was RMB 298,008 thousand, representing a decrease of 29.1% from RMB 420,772 thousand in the prior year[75]. - Basic and diluted earnings per share for the period were RMB 9.7, down from RMB 13.7 in the same period last year[75]. - Administrative expenses increased to RMB 75,140 thousand from RMB 49,399 thousand, reflecting a rise of 52.0% year-on-year[75]. - Other income for the period was RMB 16,470 thousand, down from RMB 20,512 thousand in the previous year, a decrease of 19.9%[75]. Revenue Breakdown - Revenue from panel furniture was RMB 1.85 billion, representing 94.5% of total revenue, with a gross margin of 20.3%, down from 25.8% in the previous year[12]. - Revenue from soft furniture decreased by approximately 28.1%, primarily due to reduced demand from the real estate market[14]. - Revenue from sports furniture was RMB 53.9 million, down 22.8% year-on-year, with a gross margin decline from 30.1% to 26.6%[15]. - Revenue from original design manufacturing (ODM) products accounted for 81.1% of total sales during the reporting period, maintaining above 80%[9]. - ODM sales accounted for 81.1% of total furniture sales, while OEM sales made up 18.9%[21]. - Sales in the US accounted for 64.8% of total revenue, down from 66.8% in the previous year, with a revenue decrease of 20.7%[16]. - Revenue from the United States was RMB 1,271,574 thousand, down 20.7% from RMB 1,603,946 thousand in 2021[108]. - Revenue from China decreased to RMB 115,597 thousand from RMB 126,855 thousand, representing a decline of 8.9%[108]. Market Conditions - The furniture demand weakened due to a slowdown in the real estate market in Europe and the United States, leading to a reduction in orders from major customers[8]. - The overall economic uncertainty and inflation have negatively impacted the furniture market, leading to a significant drop in property transaction volumes[7]. - The group anticipates that the global furniture consumption growth rate for 2022 may be around 4%, with European and Asian markets expected to perform better compared to others[42]. Strategic Initiatives - The company successfully expanded its business to small and medium-sized enterprises, increasing sales to various countries and regions despite the overall decline in revenue[8]. - The company entered into a strategic cooperation agreement with Yunxiang Technology Holdings to enhance marketing and develop cloud-based smart home projects[10]. - The company signed an agreement to acquire land for a new factory to produce particleboard, covering a total area of 33,539.30 square meters[9]. - The group plans to utilize approximately RMB 636 million (45.4%) of the net proceeds from the global offering to establish new production facilities for panel and soft furniture by June 30, 2023[46]. - The company acquired two plots of land in Nankang, Jiangxi Province, for RMB 7.88 million, adjacent to previously acquired land, totaling 99,096.10 square meters for new factory construction[43]. Financial Position - Cash and cash equivalents as of June 30, 2022, were approximately RMB 2,773.5 million[31]. - The current ratio improved to 8.0 from 5.5 in the previous year, indicating better liquidity[31]. - The group did not record any inventory impairment provisions as of June 30, 2022, indicating smooth inventory turnover and no signs of obsolescence[32]. - The group has no significant capital commitments or contingent liabilities as of June 30, 2022[35]. - The group has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[37]. - Total liabilities decreased to RMB 585,974 thousand from RMB 851,088 thousand, a decline of 31.2%[77]. - The company's net asset value increased to RMB 5,020,504 thousand as of June 30, 2022, up from RMB 4,713,392 thousand, representing a growth of 6.5%[78]. - The company's total assets reached RMB 5,721,510 thousand, an increase from RMB 5,686,243 thousand, reflecting a growth of 0.6%[77]. Accounting and Compliance - The financial statements for the six months ended June 30, 2022, were prepared in accordance with Hong Kong Accounting Standards and were authorized for publication on August 30, 2022[86]. - The financial statements are presented in Renminbi and include significant events and transactions affecting the group's financial position and performance[87]. - The group adopted new accounting standards effective from January 1, 2022, but these did not have a significant impact on the accounting policies[88]. - The financial statements do not include all the information required for a complete set of financial statements as per Hong Kong Financial Reporting Standards[87]. - The company is currently evaluating the impact of accounting policy revisions on its financial statements[103]. Employee and Management Information - The total employee cost for the group as of June 30, 2022, was approximately RMB 145.4 million, an increase from RMB 131.3 million as of June 30, 2021[41]. - The company’s management compensation for the six months ended June 30, 2022, totaled RMB 1,746,000, a decrease from RMB 2,041,000 in the same period of 2021[147]. - The company has adopted a share option scheme on December 2, 2020, aimed at rewarding selected participants contributing to the group's operational success[53]. - As of June 30, 2022, a total of 214,836,300 share options were granted under the share option scheme, with an exercise price of HKD 1.878 per share[56].

Financial Performance - For the fiscal year 2021, Huisen Group achieved revenue of RMB 5.14 billion, representing a growth of approximately 31.9% compared to the fiscal year 2020[15]. - The net profit for the fiscal year 2021 exceeded RMB 800 million, marking an increase of about 64.2% year-over-year[15]. - Sales from new products launched in the fiscal year 2021 reached approximately RMB 950 million, accounting for 18.5% of total revenue[15]. - Revenue from the United States accounted for approximately 67.3% of total sales, making it the largest market for the company[15]. - Revenue growth from Singapore, mainland China, Malaysia, Vietnam, and Canada was approximately 34.9%, 13.8%, 33.4%, 44.7%, and 74.2% respectively[16]. - The group's revenue for the fiscal year 2021 was approximately RMB 5,139 million, representing a year-on-year increase of about 31.9% from RMB 3,896 million in 2020[30]. - Net profit increased by approximately 64.2% compared to the fiscal year 2020, primarily due to rising average selling prices and overall sales growth, which improved the overall gross margin[30]. - The total revenue for the fiscal year 2021 was RMB 5,139,157 thousand, a 31.9% increase compared to RMB 3,895,548 thousand in the fiscal year 2020[34]. - Sales in the U.S. accounted for 67.3% of total revenue in fiscal year 2021, with a year-on-year growth of approximately 32.3%[37]. - The five largest customers contributed a total revenue of RMB 4,461,130 thousand in fiscal year 2021, which is about 86.8% of total revenue, reflecting a growth of approximately 33.4% compared to the previous year[40]. Product and Market Development - ODM product sales accounted for over 82% of the group's revenue in the fiscal year 2021, up from approximately 80% in the previous year, marking four consecutive years of growth in this segment[27]. - The revenue from panel furniture increased by approximately 33.9% in the fiscal year 2021, reaching RMB 4,829,553 thousand, driven by significant demand growth in the European and American markets[32]. - The revenue from upholstered furniture was approximately RMB 155,134 thousand, representing a growth of about 19.4% in the fiscal year 2021, primarily due to increased customer demand[33]. - The company anticipates continued growth in furniture consumption driven by rising vaccination rates and economic development in various countries, particularly in developed regions like Europe, the US, Japan, and South Korea[71]. - The company plans to strengthen management and expand its international retail customer base in the fiscal year 2022, focusing on its core competitive advantages[72]. Operational Efficiency and Investments - The group ceased production of outdoor leisure furniture in the fiscal year 2021, reallocating resources to increase the efficiency of production facilities for panel and soft furniture[23]. - The group plans to continue enhancing production efficiency by upgrading machinery and equipment in existing factories while accelerating the construction of the new Longnan factory[23]. - Huisen Group plans to enhance research and development and production capabilities as part of its investment projects[17]. - The group established a strategic cooperation agreement with Jiangxi University of Science and Technology to enhance research and development in smart furniture, including the establishment of a "Smart Furniture Research Institute"[28]. - The group acquired land use rights for approximately 233,736 square meters in Longnan City for the construction of a new manufacturing plant focused on panel and soft furniture production, at a cost of RMB 20,802,600[28]. Financial Management and Liquidity - The net cash generated from operating activities was RMB 875.613 million, representing a 34.5% increase from RMB 650.890 million in 2020[52]. - As of December 31, 2021, the bank balance and cash amounted to approximately RMB 3,137 million, up from RMB 2,648 million in 2020[52]. - The company's short-term borrowings were approximately RMB 366 million as of December 31, 2021, compared to RMB 323 million in 2020[54]. - The trade receivables (net of impairment) increased to approximately RMB 1,291.17 million as of December 31, 2021, from RMB 1,186.09 million in 2020[58]. - The company's liquidity ratio was approximately 5.5 as of December 31, 2021, compared to 5.1 in 2020[54]. - The capital debt ratio was approximately 10.5% as of December 31, 2021, down from 14.6% in 2020[54]. Corporate Governance - The board does not recommend a final dividend for the fiscal year 2021, compared to a final dividend of HKD 0.079 per share (approximately RMB 0.07) for the fiscal year 2020[67]. - The board has complied with listing rules by appointing at least three independent non-executive directors, constituting at least one-third of the board[95]. - The company emphasizes the importance of corporate governance and has established various committees to oversee different aspects of governance[123]. - The company has adopted a board diversity policy that emphasizes the importance of diverse perspectives in maintaining competitive advantage[127]. - The independent non-executive directors ensure high standards of regulatory reporting and balance board power for effective independent judgment[102]. Future Outlook and Strategic Plans - The company is preparing for the fiscal year 2022 with expectations of continued growth in consumer demand for furniture due to increased disposable income and vaccination rates[17]. - Future outlook includes potential market expansion and the introduction of new products and technologies to meet consumer demands[176]. - The management team is actively involved in monitoring market trends and adjusting strategies accordingly to maintain competitive advantage[176]. - The leadership team is dedicated to fostering innovation and improving product offerings to drive future growth[176]. Use of Proceeds from Global Offering - The net proceeds from the global offering amounted to approximately HKD 1,280.69 million after deducting underwriting commissions and other expenses[197]. - As of December 31, 2021, the actual amount utilized from the net proceeds was HKD 246 million, leaving HKD 1,156 million unutilized[197]. - 45.4% of the net proceeds (approximately HKD 636 million) is allocated for establishing a new production workshop for panel furniture and soft furniture[197]. - The company plans to enhance its product design and R&D capabilities with an allocation of HKD 93 million, which is 6.6% of the net proceeds[197]. - General working capital and other corporate purposes received an allocation of HKD 140 million, representing 10.0% of the net proceeds[197].