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 因本公告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。 芯 智 控 股 有 限 公 司 Smart-Core Holdings Limited （於開曼群島註冊成立的有限公司） （股份代號：2166） 截 至2022年12月31日 止 年 度 之 年 度 業 績 財務摘要 • 本集團截至2022年12月31日止年度的總收入為10,006.1百萬港元（2021 年：10,389.3百萬港元），較截至2021年12月31日止年度減少3.7%。 • 本集團截至2022年12月31日止年度的毛利為1,094.7百萬港元（2021年： 990.0百萬港元），較截至2021年12月31日止年度增加10.6%。 • 截 至2022年12月31日 止 年 度，本 公 司 擁 有 人 應 佔 淨 利 潤 為164.7百 萬 港 元（2021年：214.1百 萬 港 元），較 截 至2021年12月31日 止 年 度 減 少 23.1%。 • 截 至2022年12月31日 止 ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 209 中期報 | | | | | | | | | | 2 5 22 28 29 30 32 33 34 目 錄 公司资料 財務摘要 4 管理層討論及分析 其他資料 簡明綜合財務報表審閱報告 簡明綜合損益及其他全面收入表 簡明綜合財務狀況表 簡明綜合權益變動表 簡明綜合現金流量表 簡明綜合財務報表附註 公司資料 | --- | --- | |----------------------------------|---------------------------------------------| | | | | 董事會 | 公司秘書 ...

SMART-CORE HOLDINGS LIMITED 芯智控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 2166 O HIHHHHHHHH n minute 年度報告 目錄 2 公司資料 1 | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | 4 | 五年財務摘要 | | | | | | | | 6 | 主席報告書 | | | | | | | | | 10 管理層討論及分析 | | | | | | | | | 22 董事及高級管理層 | | | | | | | | | 25 董事會報告 | | | | | | | | | 41 環境、社會及管治報告 | | | | | | | | | 68 企業管治報告 | | | | | | | | | 78 獨立核數師報告 | | | | | | | | | 82 綜合損益及其他全面收入表 ...

Financial Performance - Revenue for the six months ended June 30, 2021, was HKD 4,911,942, representing a 130.95% increase compared to HKD 2,126,863 in the same period of 2020[8]. - Gross profit increased to HKD 415,899, a 245.72% rise from HKD 120,298 year-on-year[8]. - Profit before tax surged by 362.61% to HKD 195,345, up from HKD 42,227 in the previous year[8]. - Net profit attributable to shareholders reached HKD 94,576, marking a 217.20% increase from HKD 29,816 in 2020[8]. - Basic earnings per share rose to HKD 19.36, a 220.00% increase compared to HKD 6.05 in the same period last year[8]. - Profit for the six months ended June 30, 2021, was HKD 161.6 million, an increase of HKD 126.8 million (364.4%) compared to HKD 34.8 million for the same period in 2020[65]. - Net profit for the period was HKD 161,630 thousand, compared to HKD 34,840 thousand in 2020, indicating a growth of 364.5%[128]. - The company reported a significant increase in sales of smart devices, which rose to HKD 300,234 from HKD 154,546, marking a growth of 94.3%[171]. Assets and Liabilities - Total assets as of June 30, 2021, were HKD 3,296,272, reflecting a 50.12% increase from HKD 2,195,687 at the end of 2020[8]. - Total liabilities increased by 63.98% to HKD 2,460,254 from HKD 1,500,344 at the end of 2020[8]. - The net asset value grew by 20.23% to HKD 836,018 from HKD 695,343 at the end of 2020[8]. - The group’s total outstanding bank and other borrowings increased to HKD 1,348.1 million as of June 30, 2021, from HKD 727.1 million as of December 31, 2020[75]. - The company’s total liabilities increased to HKD 2,431,587 thousand from HKD 1,481,385 thousand, representing a rise of 64%[129]. Market and Business Segments - The semiconductor chip distribution business benefited significantly, with sales and profitability experiencing substantial growth due to increased demand[13]. - The company anticipates continued growth in the semiconductor sector, driven by the ongoing global demand and supply chain shifts[13]. - The television product segment generated sales of HKD 1,284.6 million, reflecting a year-on-year increase of 91.3%[18]. - The optoelectronic display segment saw sales of HKD 868.5 million, with a year-on-year growth of 118.4%[19]. - The image processing segment reported sales of HKD 513.1 million, which is a remarkable year-on-year increase of 402.8%[20]. - The smart devices segment achieved sales of HKD 300.2 million, representing a year-on-year growth of 94.3%[23]. - The communications products segment recorded sales of HKD 272.0 million, showing a significant year-on-year increase of 129.2%[25]. Future Outlook - The company is focused on enhancing its core competitiveness through digital transformation and internal innovation[14]. - The overall market demand for the company's products is expected to remain strong, driven by various industry trends and new customer acquisitions[14]. - The company anticipates a strong demand for display-related products in the second half of 2021, driven by the upcoming smartphone launches and traditional sales peak season[40]. - The company is optimistic about the growth opportunities in the second half of 2021 across various business directions, supported by a diversified business layout[35]. - The independent distribution business is projected to maintain high growth rates in the second half of 2021, driven by strong demand for semiconductor chips[55]. Operational Metrics - Current ratio as of June 30, 2021, was 1.3, down from 1.4 as of December 31, 2020[76]. - Inventory turnover period increased to 22 days for the six months ended June 30, 2021, compared to 17 days for the same period in 2020[77]. - The total employee count as of June 30, 2021, was 536, compared to 408 as of June 30, 2020, with total employee costs for the six months amounting to approximately HKD 119.5 million, up from HKD 46.8 million in the same period last year[88]. Governance and Compliance - The company has adopted the Corporate Governance Code and has complied with its applicable provisions during the six months ended June 30, 2021[99]. - The board believes that consolidating the roles of Chairman and CEO under the same individual ensures consistency in leadership and effective strategic planning[100]. - The audit committee has reviewed the interim financial results and discussed them with external auditors[117]. - Deloitte has conducted a review of the interim financial statements and found no issues that would lead to non-compliance with accounting standards[124]. Cash Flow and Investments - Operating cash flow before working capital changes for the six months ended June 30, 2021, was HKD 240,327,000, compared to HKD 51,519,000 for the same period last year[141]. - Net cash used in operating activities for the six months ended June 30, 2021, was HKD (497,526,000), significantly higher than HKD 115,504,000 in the previous year[141]. - The company raised new bank and other borrowings amounting to HKD 1,136,528,000 during the financing activities[141]. - The company has made investments in joint ventures and third-party loans, indicating ongoing strategic financial activities[141]. Shareholder Information - The board declared an interim dividend of HKD 0.04 per share for the six months ended June 30, 2021, compared to HKD 0.02 per share for the same period in 2020[95]. - The company repurchased a total of 1,960,000 shares at a total cost of HKD 2,421,660, with the highest and lowest prices per share being HKD 1.26 and HKD 1.20 respectively[92]. - As of June 30, 2021, the total number of issued shares was 488,681,030[113].

Financial Performance - Revenue for the year reached HKD 5,541.0 million, representing a year-on-year increase of 16.3%[9] - Gross profit increased by 14.6% to HKD 310.5 million[9] - Net profit attributable to owners of the company grew by 18.8% to HKD 71.0 million[11] - Total assets increased by 8.9% to HKD 2,195.7 million[12] - The company's net profit margin stood at 1.5%[11] - Basic earnings per share increased by 31.6% to 14.42 HK cents[17] - Dividend per share rose by 50.0% to 6 HK cents[17] - Return on equity improved by 25.6% to 12.3%[17] - Full-year sales reached HK$5,541 million, a year-on-year increase of 16.3%, with gross profit of HK$310.5 million, up 14.6%[22] - Revenue for the year ended December 31, 2020, increased by 16.3% to HKD 5,541.0 million compared to HKD 4,762.8 million in 2019[67] - Gross profit increased by HKD 39.6 million to HKD 310.5 million in 2020, with a slight decrease in gross margin to 5.6% from 5.7% in 2019[69] - Annual profit increased by 38.2% to HKD 85.4 million in 2020, with a net profit margin of 1.5% compared to 1.3% in 2019[73] - Net profit attributable to owners of the company increased by 28.9% to HKD 71.0 million in 2020[74] Business Segments and Product Performance - Authorized distribution business showed steady growth, with significant revenue increases in optoelectronics, security, communication products, and optical communication sectors[22] - The optoelectronics display business unit achieved sales of HKD 947.3 million in 2020, a significant year-on-year increase of 78.1%[41] - The storage products business unit achieved sales of HKD 492.2 million in 2020, a slight year-on-year decrease of 0.2%[42] - The smart terminal business unit achieved sales of HKD 396.2 million in 2020, a year-on-year decrease of 26.2%[45] - The TV business unit achieved sales of HKD 2,049.3 million in 2020, a slight year-on-year decrease of 1.8%[40] - The company's optical communication product line sales doubled in 2020 due to increased demand for optical modules, driven by global infrastructure investments in data centers and 5G networks[46] - The security product line saw a significant revenue growth of 98.4% in 2020 compared to 2019, driven by the rapid growth of China's domestic security market[46] - The communication product line, focusing on cellular IoT communication modules, achieved a 57.0% increase in sales revenue in 2020 compared to 2019[46] - The automotive electronics product line remained flat in 2020 due to pandemic impacts and supply shortages, despite some recovery in the second half of the year[47] - The independent distribution business experienced substantial growth in both revenue and profit in 2020, benefiting from market volatility and supply chain disruptions caused by COVID-19[48] Market Trends and Industry Outlook - The global semiconductor market grew by 5.4% to USD 442 billion in 2020[20] - The global semiconductor market grew by 5.4% in 2020, reaching USD 442 billion[38] - Global semiconductor market revenue is expected to grow by 7.7% to $476 billion in 2021, driven by 5G, IoT, big data, and AI industries[28] - The global storage chip market is expected to grow by 12.22% in 2020, reaching USD 119.4 billion[42] - The global semiconductor market is expected to grow by 7.7% in 2021, reaching a market size of $476 billion, driven by recovery and increased demand for 5G, AI, and big data technologies[51] - The company's TV product line is expected to benefit from delayed international sports events and advancements in 8K and Mini LED technologies, with global TV shipments projected to reach 223 million units in 2021, a 2.8% increase[52] - The optoelectronics display business unit is expected to see growth in 2021, with new product lines in the industrial control sector projected to achieve over $1.0 million in incremental sales[53] - The memory product line is expected to grow significantly in 2021, with DRAM sales projected to increase by 18% and NAND flash sales by 17%, driven by new data center investments and 5G smartphone shipments[56] - The domestic 5G optical module market is expected to reach USD 2.27 billion (approximately RMB 15.8 billion) in 2021, driven by 5G infrastructure construction[59] - The Chinese car DVR market size is expected to reach RMB 55.92 billion in 2020, with a year-on-year growth of 27.44%, and is projected to continue growing rapidly in 2021[62] Strategic Initiatives and Future Plans - The company plans to expand its authorized and independent distribution businesses, targeting breakthrough growth in product business units[29] - The company aims to leverage its overseas network to penetrate more international markets with spot distribution business[30] - The company plans to focus on software services and cloud service capabilities, collaborating with internet cloud service providers in IoT, cloud services, and SaaS[33] - The company will continue to provide customized storage solutions and expand its semiconductor chip business in 2021[34] - The company plans to focus on expanding its independent distribution business and exploring e-commerce opportunities in the semiconductor industry in 2021[64] - The company has restructured its memory business to focus on South China, East China, and overseas markets, with plans to expand into server storage, aiming for substantial growth in 2021[56] Overseas Expansion and Operations - Overseas business achieved million-dollar revenue growth in newly established branches, with a new Southeast Asia base set up in 2020[23] - The company's overseas business covers Japan, Singapore, India, and Southeast Asia, with localized services and cloud collaboration helping to mitigate the impact of the pandemic[35] Research and Development - R&D expenses increased by 7.1% to HKD 25.7 million in 2020, primarily due to higher employee costs[70] Expenses and Financial Management - Administrative, sales, and distribution expenses increased by HKD 15.0 million to HKD 168.5 million in 2020, accounting for 3.0% of revenue[71] - Financial expenses decreased by HKD 9.1 million to HKD 18.2 million in 2020 due to lower average interest rates[72] - The company's capital gearing ratio increased from 72.3% in 2019 to 108.5% in 2020 due to increased bank borrowings to meet working capital needs[83] - The company's trade receivables turnover period increased to 62 days in 2020 from 48 days in 2019, attributed to increased sales and delayed payments by SME clients[84] - The company's inventory turnover period increased to 21 days in 2020 from 18 days in 2019, remaining relatively stable[84] Employee and Human Resources - Global employee count grew by double digits in 2020, with increased investment in IT infrastructure and enterprise informatization[24] - The company's employee count increased to 444 by the end of 2020, with total employee costs (excluding directors' remuneration) amounting to HKD 108.3 million[93] - The company conducts strict and standardized internal training programs for new employees, focusing on company introduction and workflow skills[127] - The company provides competitive compensation and has established a self-assessment program to motivate employees and help them achieve their goals[127] Share Repurchases and Capital Management - The company repurchased a total of 2,564,000 shares on the Hong Kong Stock Exchange in 2020, with a total of 11,150,000 shares canceled during the year[98] - In 2021, the company repurchased an additional 1,960,000 shares and canceled 4,274,000 repurchased shares on March 5, 2021[98] - The highest price per share for repurchases in January 2020 was HKD 1.51, and the lowest was HKD 1.49, with a total price of HKD 376,580[98] - In December 2020, the company repurchased 814,000 shares at a price range of HKD 1.33 to HKD 1.30, totaling HKD 1,064,640[98] - The company believes share repurchases can enhance earnings per share and benefit shareholders[171] - The company repurchased a total of 2,564,000 shares during the year, with a total of 11,150,000 shares canceled by the end of 2020[170] - Post-year-end, the company repurchased an additional 1,960,000 shares and canceled 4,274,000 repurchased shares on March 5, 2021[170] - The highest repurchase price per share was HKD 1.51 in January, while the lowest was HKD 1.24 in July[171] - The total repurchase cost (after deducting commissions) was HKD 3,417,700 for the year[171] Joint Ventures and Investments - A joint venture was established on March 8, 2021, with a registered capital of $6,250,000, in which the company holds a 46% stake[100] - The joint venture focuses on designing and manufacturing electronic components for the optical communication market[100] - HKD 61.7 million was set aside for potential acquisitions or investments in the e-commerce or electronics industry, with HKD 28.6 million utilized and HKD 33.1 million remaining, expected to be fully utilized by December 31, 2022[79] Corporate Governance and Leadership - The company's Chairman and CEO, Mr. Tian Weidong, has over 20 years of experience in the semiconductor industry[103] - Mr. Huang Ziliang, the company's CFO, has over 20 years of experience in business management and financial operations[104] - Mr. Liu Hongbing, an executive director, has over 20 years of experience in the electronic engineering industry[108] - Mr. Tian Weidong holds a 53.25% stake in the company through Smart IC Limited, which he wholly owns[157][175] - Mr. Huang Ziliang holds an 18.26% stake in the company through Insight Limited, which he wholly owns[157][175] Compliance and Environmental Responsibility - The company emphasizes compliance with environmental regulations and reported no fines or penalties for non-compliance with health, safety, or environmental laws during the fiscal year 2020[124] - The company ensures compliance with relevant laws and regulations through internal controls, approval procedures, and training for various business departments[123] - The company's environmental policies are supported by employees and effectively implemented, aligning business development with environmental responsibilities[124] Supplier and Customer Relationships - The company's top five suppliers accounted for approximately 78.9% of total procurement, with the largest supplier contributing about 54.7%[147] - The company's top five customers accounted for approximately 51.1% of total revenue, with the largest customer contributing about 18.7%[148] - The company's credit terms with major suppliers range from 30 to 60 days, while credit terms with major customers range from 30 to 120 days[128] - Over 50% of the company's revenue in the year came from its top five customers, highlighting customer concentration risks[132] - The company's major suppliers are well-established integrated circuit and electronic component companies, with business relationships lasting 8 to 14 years[128] - The company's major customers include leading brand electronics manufacturers, ODMs, and OEMs in China, with business relationships lasting 5 to 14 years[128] Dividends and Shareholder Returns - The company proposed a final dividend of 4 HK cents per share for 2020, up from 2 HK cents in 2019, subject to shareholder approval[134] - The company's distributable reserves as of December 31, 2020, were HKD 230.0 million, compared to HKD 255.5 million in 2019[143] Corporate Social Responsibility - The company made charitable and other donations totaling approximately HKD 66,000 in 2020, compared to HKD 60,000 in 2019[145] Financial Risks and Challenges - The company relies on short-term financing, and any withdrawal or increase in interest rates on credit lines could adversely affect its operations and profitability[133] Connected Transactions - The company's wholly-owned subsidiary, Smart IC International, provided a revolving loan facility of $3.8 million to Mingguan Hong Kong at an annual interest rate of 7%, with the loan to be used for financing electronic component procurement orders[182] - The loan agreement between Smart IC International and Mingguan Hong Kong constitutes a connected transaction under the Listing Rules, as Mingguan Hong Kong is a jointly held entity with a 25% stake owned by Smart IC Cloud Holdings Limited[182] - The company's connected transactions with Smart IC Taiwan for goods sales amounted to HKD 101,000 in 2020, a significant decrease from HKD 2,823,000 in 2019[185] - The company's connected transactions with Quiksol International Components Pte Ltd for goods sales amounted to HKD 228,000 in 2020, a significant decrease from HKD 2,898,000 in 2019[185] - The company's connected transactions with Smart IC Taiwan for goods purchases amounted to HKD -1,408,000 in 2020, compared to no transactions in 2019[185] - The company's connected transactions with Quiksol International Components Pte Ltd for goods purchases amounted to HKD -13,000 in 2020, a significant decrease from HKD -690,000 in 2019[185] Share Incentive Plans - The company's share incentive plan and share option plan did not result in any new shares being subscribed or acquired during the year ended December 31, 2020[191] - The maximum number of shares that may be issued upon the exercise of all outstanding options under the company's share option plan is 50,000,000 shares, representing 10.23% of the company's issued share capital[196] - The maximum number of shares that can be granted to any eligible person under the share option plan is limited to 1% of the total issued shares on the date of the option grant[198] Miscellaneous - The company's 2020 annual report is available for review[199] - The document contains a reference to the number 33, which may be relevant to financial data or other metrics[200]

SMART-CORE HOLDINGS LIMITED 芯智控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 2166 中期報告 2020 目錄 公司資料 2 財務摘要 4 管理層討論及分析 5 其他資料 15 未經審核簡明綜合財務報表審閱報告 20 簡明綜合損益及其他全面收入表 21 簡明綜合財務狀況表 22 簡明綜合權益變動表 24 簡明綜合現金流量表 26 未經審核簡明綜合財務報表附註 27 黃梓良先生 公司資料 | --- | --- | |--------------------------------------------------------|---------------------------------------| | | | | 董事會 | 註冊辦事處 | | 執行董事 | Maples Corporate Services Limited | | 田衛東先生(董事會主席及行政總裁) | PQ Box 309 Ugland House | | | | | 黃梓良先生(首席財務官) 劉紅兵先生 | Grand Cayman, KY1-1104 Cayman Islands ...

SMART-CORE HOLDINGS LIMITED 芯智控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號 : 2166 2019 年度報告 00000 0000 0000 公司資料2 五年財務摘要4 主席報告書6 管理層討論及分析 10 董事及高級管理層 19 董事會報告 22 環境、社會及管治報告 37 企業管治報告 52 獨立核數師報告 62 綜合損益及其他全面收入表 67 綜合財務狀況表 68 綜合權益變動表 70 綜合現金流量表 72 綜合財務報表附註 74 公司資料 | --- | --- | |---------------------------------------------------------------------|-----------------------------------------| | 董事會 | 註冊辦事處 | | 執行董事 | Maples Corporate Services Limited | | 田衛東先生 （董事會主席及行政總裁） | PO Box 309 Ugland House | | 黃梓良先生 （首席財務官） | Grand Cay ...

SMART-CORE HOLDINGS LIMITED 芯智控股有限公司 （於開曼群島註冊成立的有限公司） 股份代號：2166 2019 芯智控股有限公司 2019 中期報告 0000 nna | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|----------------------------------|-------| | | | | | 目 錄 | | | | | | | | | | | | | | 公司資料 | 2 | | | | | | 財務摘要 | 4 | | | | | | 管理層討論及分析 | 6 | | | | | | | | | | | | | 其他資料 | 14 | | | | | | 未經審核簡明綜合財務報表審閱報告 | 19 | | | | | | 簡明綜合損益及其他全面收入表 | 20 | | | | | | 簡明綜合財務狀況表 | 21 | | | | | | 簡明綜合權益變動表 | 23 | | | | | | 簡明綜合現金流量表 | 24 | | | | | | 未經審核簡明綜合 ...

SMART-CORE HOLDINGS LIMITED 芯智控股有限公司 （於開曼群島註冊成立的有限公司） 股份代號：2166 2018 年度報告 BERBE 10800 UXHUMBEREER 0000 | --- | --- | --- | --- | --- | |-------|-------|-------|--------------------------|-------| | | | | 目 錄 | | | | | | | | | | | | 公司資料 | 2 | | | | | 大事紀要 | 4 | | | | | 五年財務摘要 | 5 | | | | | 主席報告書 | 7 | | | | | 管理層討論與分析 | 10 | | | | | 董事及高級管理層 | 19 | | | | | | | | | | | 董事會報告 | 22 | | | | | 環境、社會及管治報告 | 37 | | | | | 企業管治報告 | 48 | | | | | 獨立核數師報告 | 57 | | | | | 綜合損益及其他全面收入表 | 62 | | | | | 綜合財務狀況表 | 63 | | | | ...